{"id":449,"date":"2011-09-30T00:00:01","date_gmt":"2011-09-30T00:00:01","guid":{"rendered":"https:\/\/armla.am\/en\/?p=449"},"modified":"2016-06-29T11:45:24","modified_gmt":"2016-06-29T11:45:24","slug":"2010","status":"publish","type":"post","link":"https:\/\/armla.am\/en\/449.html","title":{"rendered":"2010"},"content":{"rendered":"

The external audit conclusion and financial reprots on the financial assets of the Armenian young lawyers association for 2010<\/strong><\/p>\n

\u00a0<\/span><\/h1>\n

A P P R O V E D<\/span><\/h1>\n

________________P. GEVORGYAN<\/strong><\/h3>\n

<\/h3>\n

MANAGING PARTNER<\/strong><\/h3>\n

BAKER TILLY ARMENIA\u00a0 CJSC<\/strong><\/h3>\n

\u00a0<\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 License for realization of Audit activities No \u00b2\u00cc 054,<\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 provided by the RA Ministry of Finance and Economy<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

INDEPENDENT AUDITOR\u2019S REPORT<\/strong><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/p>\n

To General Assembly and Executive Board of\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/p>\n

the \u201cArmenian Young Lawyers Association\u201d<\/strong><\/p>\n

Non-Governmental Organization<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

We have audited the accompanying financial statements of the \u201cArmenian Young Lawyers Association\u201d Non-Governmental Organization (hereinafter, the Organization) which comprise the Statement of Financial Position as at December 31, 2010, the Statement of Financial Results, and the Statement of Cash Flows for the year then ended, as well as the summary of the accounting policies and other explanatory notes.<\/p>\n

\u00a0<\/em><\/p>\n

Management\u2019s responsibility for the financial statements<\/em><\/p>\n

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the International Financial Reporting Standards. This responsibility includes development, implementation and maintenance of internal control relevant to the preparation and fair presentation of the financial statements free from material misstatement due to fraud or error, selection and implementation of appropriate accounting policies, as well as preparation of reasonable accounting estimates relevant to present circumstances.<\/p>\n

Auditor\u2019s responsibility<\/em><\/p>\n

\u00a0<\/em><\/p>\n

Our responsibility is to express an opinion of the given financial statements based on the conducted audit. We have carried out the audit according to the International Standards on Auditing. These standards require that we comply with the ethical requirements and plan and perform the audit to obtain reasonable assurance that the financial statements are free from material misstatements.<\/p>\n

Audit includes performing procedures to obtain audit evidence about the amounts and disclosures presented in the financial statements. The choice of the procedures depends on the auditor\u2019s judgment, including the assessment of the risks arising from the misstatements in the financial statements whether due to fraud or an error.\u00a0 In making those risk assessment, the auditor considers the internal control of the Organization over the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the present circumstances, but not for the purpose of expression of an opinion regarding the effectiveness of the Organization\u2019s internal control.\u00a0 The audit also includes evaluation of the appropriateness of accounting policies used and the reasonableness of accounting estimates carried out by the management, as well as evaluation of the overall presentation of financial statements.<\/p>\n

We believe that the audit evidence we have obtained is sufficient and appropriate enough to provide a basis for our audit opinion.<\/p>\n

THE AUDITOR\u2019S OPINION ON THE FINANCIAL STATEMENTS<\/p>\n

In our opinion, the financial statements give a true and fair view of the \u201cArmenian Young Lawyers Association\u201d NGO\u2019s financial position as at 31 December, 2010, and of its annual financial performance and cash flows for the year then ended. In the \u201cArmenian Young Lawyers Association\u201d NGO the accounting is conducted in accordance with the requirements of the Law \u201cOn Accounting\u201d and International Financial Reporting Standards (IFRS).<\/p>\n

Auditor<\/p>\n

M. Mkrtchyan\u00a0 ____________<\/p>\n

Balance Sheet<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

31 December 2010<\/strong><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 AMD ths.<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ASSETS<\/strong><\/td>\n\n

Notes<\/em><\/p>\n<\/td>\n

\n

2010<\/p>\n

(audited)<\/em><\/p>\n<\/td>\n

<\/td>\n\n

2009 (audited)<\/em><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0Non-Current Assets<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Capital Assets<\/td>\n\n

3<\/p>\n<\/td>\n

\n

42,194<\/p>\n<\/td>\n

<\/td>\n\n

41,805<\/p>\n<\/td>\n<\/tr>\n

Intangible Assets<\/td>\n\n

4<\/p>\n<\/td>\n

\n

59<\/p>\n<\/td>\n

<\/td>\n\n

71<\/p>\n<\/td>\n<\/tr>\n

Investments accounted for on the equity basis<\/td>\n\n

5<\/p>\n<\/td>\n

\n

13<\/p>\n<\/td>\n

<\/td>\n\n

13<\/p>\n<\/td>\n<\/tr>\n

Total Non Current Assets<\/em><\/strong><\/td>\n\n

\u00a0<\/em><\/strong><\/p>\n<\/td>\n

\n

42,266<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

41,889<\/strong><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current Assets<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current receivables and prepayments<\/td>\n\n

6<\/p>\n<\/td>\n

\n

271<\/p>\n<\/td>\n

<\/td>\n\n

630<\/p>\n<\/td>\n<\/tr>\n

Cash and cash equivalents<\/td>\n\n

7<\/p>\n<\/td>\n

\n

30,028<\/p>\n<\/td>\n

<\/td>\n\n

68,396<\/p>\n<\/td>\n<\/tr>\n

Total Current Assets<\/em><\/strong><\/td>\n<\/td>\n\n

30,299<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

69,026<\/strong><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n<\/tr>\n

BALANCE<\/strong><\/td>\n<\/td>\n\n

72,565<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

110,915<\/strong><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
LIABILITIES<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Non-current liabilities<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Grants related to Assets<\/td>\n\n

8<\/p>\n<\/td>\n

\n

42,251<\/p>\n<\/td>\n

<\/td>\n\n

41,874<\/p>\n<\/td>\n<\/tr>\n

Total Non-Current Liabilities<\/em><\/strong><\/td>\n<\/td>\n\n

42,251<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

41,874<\/strong><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current Liabilities<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\u00a0<\/em><\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Current accounts payable<\/td>\n\n

9<\/p>\n<\/td>\n

\n

2,243<\/p>\n<\/td>\n

<\/td>\n\n

1,197<\/p>\n<\/td>\n<\/tr>\n

Grants related to income<\/td>\n\n

10<\/p>\n<\/td>\n

\n

28,071<\/p>\n<\/td>\n

<\/td>\n\n

67,844<\/p>\n<\/td>\n<\/tr>\n

Total Current Liabilities<\/em><\/strong><\/td>\n<\/td>\n\n

30,314<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

69,041<\/strong><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n<\/tr>\n

BALANCE<\/strong><\/td>\n<\/td>\n\n

72,565<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

110,915<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n
Karen Zadoyan<\/td>\n<\/td>\nAlvard Hovhannisyan<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
President<\/td>\n<\/td>\nChief Accountant<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The presented Financial Statements were approved as of 15.04.2011<\/p>\n

\u00a0<\/strong><\/p>\n

Statement on Financial Results<\/strong><\/p>\n

01.01.2010-31.12.2010<\/strong><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 AMD ths.<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

Notes<\/em><\/strong><\/p>\n<\/td>\n

\n

2010<\/p>\n

(audited)<\/em><\/p>\n<\/td>\n

<\/td>\n\n

2009 (audited)<\/em><\/p>\n<\/td>\n<\/tr>\n

Other Operating Income, including<\/strong><\/td>\n<\/td>\n\n

153,278<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

126,942<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Grants<\/p>\n<\/td>\n

<\/td>\n\n

152,913<\/p>\n<\/td>\n

<\/td>\n\n

126,695<\/p>\n<\/td>\n<\/tr>\n

\n

Membership fees<\/p>\n<\/td>\n

<\/td>\n\n

365<\/p>\n<\/td>\n

<\/td>\n\n

247<\/p>\n<\/td>\n<\/tr>\n

Other Operating Expenses, including<\/strong><\/td>\n\n

11<\/p>\n<\/td>\n

\n

(152,963)<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

(127,143)<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Grants<\/p>\n<\/td>\n

<\/td>\n\n

(152,913)<\/p>\n<\/td>\n

<\/td>\n\n

(126,694)<\/p>\n<\/td>\n<\/tr>\n

\n

Membership fees<\/p>\n<\/td>\n

\n

11.1<\/p>\n<\/td>\n

\n

(50)<\/p>\n<\/td>\n

<\/td>\n\n

(449)<\/p>\n<\/td>\n<\/tr>\n

Operating Profit (Loss)<\/strong><\/td>\n<\/td>\n\n

315<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

(201)<\/strong><\/p>\n<\/td>\n<\/tr>\n

Profit (loss) as regards investments accounted for on an equity basis<\/strong><\/td>\n<\/td>\n\n

–<\/p>\n<\/td>\n

<\/td>\n\n

–<\/p>\n<\/td>\n<\/tr>\n

Other non-operating income (loss)<\/strong><\/td>\n\n

12<\/p>\n<\/td>\n

\n

(2,197)<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

4,927<\/strong><\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Income (loss) from ordinary activity<\/em><\/strong><\/td>\n<\/td>\n\n

(1,882)<\/strong><\/p>\n<\/td>\n

\n

\u00a0<\/strong><\/p>\n<\/td>\n

\n

4,726<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n
Karen Zadoyan<\/td>\n<\/td>\nAlvard Hovhannisyan<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
President<\/td>\n<\/td>\nChief Accountant<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The external audit conclusion and financial reprots on the financial assets of the Armenian young lawyers association for 2010 \u00a0 A P P R O V E D ________________P. GEVORGYAN MANAGING PARTNER BAKER TILLY ARMENIA\u00a0 CJSC \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 License for realization of Audit activities No \u00b2\u00cc 054, \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 provided by the RA Ministry of Finance …<\/p>\n","protected":false},"author":3,"featured_media":450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-reports"],"_links":{"self":[{"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/posts\/449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/comments?post=449"}],"version-history":[{"count":1,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/posts\/449\/revisions"}],"predecessor-version":[{"id":451,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/posts\/449\/revisions\/451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/media\/450"}],"wp:attachment":[{"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/media?parent=449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/categories?post=449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armla.am\/en\/wp-json\/wp\/v2\/tags?post=449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}