Year-End - Salvation Army Canada

Year-End

Year End Process

The consolidation process is extensive and requires coordinated effort by numerous personnel within our organization. Annually, year-end guidelines are issued by the financial reporting team at Territorial Headquarters to ensure an efficient process.

The Finance department’s regional offices will complete year end tasks and closing procedures for those ministry units contracting their services. These units will receive direction from the regional office regarding their specific responsibilities (if any). Finance department clients that are externally audited must ensure that key staff is available during the audit period to answer questions. This means they must not schedule vacation time in the month of May.

Ministry units performing their own accounting must follow the guidelines and templates provided below to ensure a successful year end audit.

Ministry units requiring an external audit:

  1. Year end process and requirements. Click here
  2. Consolidation year end timeline – ministry unit responsibilities. Click here
  3. Standard chart of accounts. Click here
  4. Vacation Accrual Template. Click here
  5. Intercompany account explanations. Click here
  6. Year end checklist. Click here
  7. Specified audit procedures. Click here
  8. Financial Statement and notes template. Click here

Ministry units – not externally audited:

  1. Year end process and requirements. Click here
  2. Consolidation year end timeline – ministry unit responsibilities. Click here
  3. Standard chart of accounts. Click here
  4. Intercompany account explanations. Click here
  5. Year end checklist. Click here
  6. Specified audit procedures. Click here

Financial Reporting Team (THQ) and Contact Information:

Territorial Headquarters has a team which is dedicated to the successful completion of consolidated financial statements.

The team is responsible for:

  • establishing accounting policy and treatment to meet generally accepted accounting principles for not-for-profit organizations;
  • standardizing report format and presentation to achieve consolidation;
  • providing support to ministry units on reporting requirements, chart of account maintenance and structure, accounting related issues and policy and disclosure requirements;
  • compiling financial statements of all ministry units across the territory;
  • assessing the quality and consistency of presented financial statements;
  • assessing the accuracy and completeness of financial statements;
  • developing systems to facilitate the consolidation process;
  • managing the consolidation process, ensuring all information is summarized and presented for examination by external auditors.

The consolidation team can be consulted at any time on accounting treatment, disclosure issues or any other matter relating to the consolidation process. The team can be contacted by email at THQ_Consolidation@can.salvationarmy.org and will be pleased to work with ministry units to resolve any questions or issues they have.