Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
Sr No. Term Meaning
29 Controlling Officer The authority made responsible for the control of expenditure and receipt
30 Creditor A person or firm to whom money is due (payable)
31 Debtor A person or firm from whom money is due (receivable)
32 Depreciation
Mathematical formula measure of a tangible asset‘s loss of value over time to properly match revenues against the appropriated
asset‘s lost value (estimated expense). This is done for office equipment, furniture, and vehicles etc
33 Drawing and Disbursing Officer
Drawing and disbursing officer works on behalf of state government and is responsible for all money received or disbursed in his
office and the maintenance of accounts thereof. The DDO is personally responsible for the correct maintenance and timely
rendition of accounts or returns in respect of government funds or stores handled in his office.
34 Finance Controller
Officer of the Finance and Accounts Service posted under controlling officer or any other officer entrusted to supervise the work of
Budget & Account in absence of Finance & Accounts Service officer to release the budget and detailed duties are given in
Financial Handbook Vol V Chapter 18A and subsequent GO‘s
35 Freight
Charges paid for carriage or transportation of goods (cargo) by air, land, or sea. Goods may be transported (shipped) on freight
prepaid or freight collect basis: (1) If the freight is paid by the consignor (as under C&F and CIF terms) the goods remain the
consignor's property until their delivery is taken by the consignee upon their arrival at the destination, and payment of the
consignor's invoice. (2) If freight is paid by the consignee (as under FOB terms) the goods become the consignee's property when
handed over to the carrier against a bill of lading. Also called freightage, it may be charged on the weight or volume of the
shipment (depending upon its nature or density) and also varies according to the mode of shipment, such as bulk, break bulk,
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