This Accounting Procedures Manual has been prepared by Christopher Mdolo-ACCA(CPAM) for Football Association of Malawi. The manual provides comprehensive accounting policies, systems and procedures to ensure that FAM’s activities are implemented in a transparent and accountable manner using appropriate financial pathways. The Manual will ensure that there is consistency, transparency and accountability on the part of those involved in undertaking the Associations transactions.
The broad objective of this Manual is to document, in simplified terms, accounting policies, controls, systems and procedures. The manual also ensures that the activities of the Association are accounted for in a transparent and accountable manner.
Purpose of the Manual
This Manual serves the following purposes:
◆ assist accounting personnel of FAM to be fully conversant with the accounting procedures, policies and controls.; ◆ assist in the training of staff;
◆ for use by Staff as a reference guide; and
◆ ensure that there is continuity of approaches even if staff change.
Users of the Manual
The primary users of the Manual are Accounting personnel. The Manual will also be used by personnel from other departments within the Association.
The Director of Finance has the overall responsibility of ensuring that the accounting systems, procedures and controls set out in this Manual are applied consistently, efficiently and effectively.
Structure of the Manual
This Manual covers the following major areas:
◆ Accounting policies;
◆ Accounting procedures and controls; and
◆ Reporting requirements.
Revisions to the Manual
The Manual shall be revised regularly in accordance with changes and developments in the Association’s operations and financial procedures. All proposed changes must be submitted to the Executive for approval.
1 OVERVIEW OF FOOTBALL ASSOCIATION OF MALAWI LIMITED
Football Association of Malawi was formed in 1966 as the governing body of football in Malawi and got affiliated to Fifa in 1967.FAm is established in accordance with the Malawi National council of sports Act: Chapter 30.10 of the Laws of Malawi.
FAM is also affiliated to the Confederation of African Football(CAF) and Council for Southern African Football Associations(COSAFA).Locally FAM is affiliated to OCGAM and MNCS.
The Core objectives of FAM are as follows:
Promoting,developing and exercising disciplinary control over the game of football in every way it deems fit in accordance with the Laws of the game as amended from time to time and published by Fifa.
Promoting the organization of the internal football matches at all levels and by all means which deems appropriate without regard to racial, religion, sex or political affiliation.
Enhancing friendly relations with other associations, confederations and their officials and players and promoting the organization of football matches at all levels.
Promoting all such activities as may be necessary incidental or conducive to the performance of the above objectives.
Fam is comprised of three main bodies: the Legislature which is the General Assembly that makes major decisions, amends the constitution and elects FAM Executive Committee amongst others.
The Executive committee which formulates policy for running the Association.
The Secratariate which impliments Policy formulated by the Executive committee and also undertaking day to day administrative functions.
The Chief Executive Officer heads FAM Secretariate and is responsible to the Executive members. He/she is supported by heads of departments for Administration, Finance, Marketing, Refereeing and Technical development. The Finance department has the role of ensuring that transactions or activities that have direct impact on financial accounting...
Please join StudyMode to read the full document