Common Financial Statement definition

Common Financial Statement means the style and format for income and expenditure categories under that title (and, where relevant, related spread sheets, budget sheets, trigger figures, guidance materials and notes) published by the Money Advice Trust(4);

Examples of Common Financial Statement in a sentence

• The Income and Expenditure Account is based on the summary page of the Common Financial Statement used by many debt advisors.

• It is anticipated that in most cases, although not in all, the intermediary will already have completed a version of the Common Financial Statement (or similar document) following initial consultation with the debtor regarding their financial affairs.

• The Common Financial Statement (CFS) is a budgeting tool that can be used by advice agencies and other third party organisation to make debt repayment offers to creditors on behalf of clients.

• In order to bridge the gap between on-line technology and the reality of certain jurisdictions, specialized agencies/government bodies could provide physical copies of the templates 148 A number of associations of the banking and financial services industry of the UK have developed an interesting model called the Common Financial Statement (CFA), which provides standardised, simplified accounting and budg- eting models.

• Common Financial Statement Advice NI wish to highlight that the Common Financial Statements (CFS) best practice checklists were recently published by the Money Advice Trust (Mat) and are a result of partnership working.

• Class goers are encouraged to set up a free Prezi account online before the class at https://prezi.com/signup/public/.Session 2: Common Financial Statement ErrorsThis session will provide tips on identifying and avoiding common financial statement errors in GAAP financial statements.Session 3: The Fed's New Tools (CPIM) (CLE)As we enter the first cycle of rising interest rates in more than a decade, this presentation will examine the new tools available to the Fed.

• Following assessment of income and expenditure by the Common Financial Statement, if the level of contributions set would allow the debt to be paid in full within 48 months then the trust deed is not eligible to be protected.

• This standardised budget format, which we called the Common Financial Statement (CFS) could then be used by creditors to ensure repayment offers were fair and could be sustained in the long term.

• The Common Financial Statement represents a commitment from its sponsors in the credit and advice sectors to create a uniform approach to how individual and household budgets are prepared, in order to encourage consistent responses from creditors to offers of debt repayment.

• Some of these tools are general, such as writing letters to creditors and others are specifically designed and used by certain debt advice providers and these will be discussed in more detail as examples: ■ The Common Financial Statement (CFS) is a budgeting tool that can be used by advice agencies and other third party organisations to make debt repayment offers to creditors on behalf of clients.