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Title: | The preparation and presentation of financial statements amongst Maltese band clubs : a survey |
Authors: | Zammit, Frankie (2007) |
Keywords: | Financial statements -- Malta Band clubs -- Malta Nonprofit organizations -- Malta |
Issue Date: | 2007 |
Citation: | Zammit, F. (2007). The preparation and presentation of financial statements amongst Maltese band clubs : a survey (Bachelor’s dissertation). |
Abstract: | Band Clubs in Malta form part of our culture and these clubs have thousands of members and enthusiasts that form the particular club. Almost every village in Malta and Gozo has its own Band Club where in some villages there are also two competing clubs and sometimes three Band clubs. Those clubs as other non-profit making organizations collect and administer large amounts of money every year. Unfortunately, most clubs do not use any type of standards in order to prepare financial Statements, where information should be given about the real financial position and performance of the particular club. Moreover, up to now in Malta there exists no legal framework which obliges and sets the standards of how books should be prepared and presented. This dissertation, therefore, sets to study the systems used by various treasurers in order to prepare and present their report, and also to evaluate club members' trust and confidence in the systems operated. The key research objectives of this study were achieved through in-depth interviews with various treasurers. A qualitative approach was adopted in order to obtain the desired information from thirteen interviewees, one from every electoral district found in Malta. All Band Clubs seem to maintain accounting records, the extensiveness of their accounting systems differ in respect to particular band clubs. There is no real criteria by which these systems differ. All clubs operate a tailor made system and all treasurers are satisfied with their system. All clubs use a cash based system as opposed to an accrual based one. Their report is not presented to the public but only to the club members. All interviewees commented that they collect their funds not only from their members but still they do not think that they should be accountable to the general public. The only government help that clubs are presently receiving is that through the Lotto Receivers where most clubs have lotto receivers in their premises and still most treasurers commented that the privatization of the Lotto Department is creating uncertainty for the future. Most clubs argue that government should be more helpful with regard Maltese Band Clubs who are the main organizers of the Maltese traditional festas. The enactment of the Voluntary Organization Act is surely a step in the right direction in promoting voluntary organization to become more transparent for their members and towards the public but still Band Clubs should be considered differently from other associations. |
Description: | B.ACCTY.(HONS) |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/83327 |
Appears in Collections: | Dissertations - FacEma - 1959-2008 Dissertations - FacEMAAcc - 1983-2008 |
Files in This Item:
File | Description | Size | Format | |
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B.ACCTY.(HONS)_Zammit_Frankie_2007.pdf Restricted Access | 5.16 MB | Adobe PDF | View/Open Request a copy |
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