MAF Europe Finance and Related Matters Reference Book - FRM.01 Amendment 0

Sep 4, 2026

Uploaded by Rizky

MAF Europe Finance and Related Matters Reference Book provides a structured reference for finance governance and related operational controls. It defines key financial concepts and lays out financial principles, operating practices, procedures, and periodic routines. Coverage includes financial reporting responsibilities, accounts and transactions such as stocks, debtors, prepayments, bank and cash, creditors and accruals, inter-programme balances, currencies, income and expenditure, overhaul funds, and period-end procedures. It also addresses internal control basics, audit, and board policy statements supporting chief executive empowerment, plus aviation insurance.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages111

Reading Time4 h 40 min

AccessFree to download

Section-0 Introduction

0.1 Introduction

0.2 Abbreviations

Section-1 Finance

1.1 Introduction

1.2 Definitions

1.3 Financial Principles

1.4 Practices and Procedures

1.5 Periodic Routines

Section-2 Internal Control

2.1 Introduction

2.2 “Basics” of Financial Internal Control

2.3 Annual Report to the Board

2.4 Audit

Section-3 Board Policy Statements – Chief Executive Empowerment Policies

3.1 Introduction

3.2 MAF Board Policy Statements-Chief Executive Empowerment

3.3 Chief Executive Empowerment Monitoring Timetable

Section-4 Aviation Insurance

4.1 Introduction

MAF Europe Finance and Related Matters Reference Book FRM.01 Amendment 0 MAF Europe Operations Centre, Henwood, Ashford, Kent TN24 8DH UK TABLE OF CONTENTS Section-0 Introduction....................................................................................... 1 0.1. Introduction ............................................................................................... 0-1 0.2. Abbreviations ............................................................................................ 0-2 Section-1 Finance ........................................................................................... 1-1 1.1. Introduction ............................................................................................... 1-1 1.2. Definitions ................................................................................................. 1-2 1.3. Financial Principles ................................................................................... 1-4 1.4. Practices and Procedures ........................................................................ 1-5 1.4.1. Financial Reports and Lines of Responsibility .......................................... 1-5 1.4.2. Financial Reports ...................................................................................... 1-7 1.4.3. Stocks ....................................................................................................... 1-8 1.4.4. Debtors and Prepayments ...................................................................... 1-13 1.4.5. Bank and Cash ....................................................................................... 1-16 1.4.6. Creditors and Accruals ........................................................................... 1-20 1.4.7. Inter-Programme/Company Transactions and Balances........................ 1-22 1.4.8. Currencies and Exchange Rates ............................................................ 1-24 1.4.9. Income Transactions .............................................................................. 1-25 1.4.10. Expenditure Transactions ....................................................................... 1-26 1.4.11. Overhaul Funds ...................................................................................... 1-28 1.4.12. Period End Procedures .......................................................................... 1-30 1.4.13. Other Matters .......................................................................................... 1-34 1.5. Periodic Routines ................................................................................... 1-38 1.5.1. Programme Knowledge .......................................................................... 1-38 1.5.2. Funds Management Procedures ............................................................ 1-40 1.5.3. Checklist ................................................................................................. 1-41 Section-2 Internal Control .............................................................................. 2-1 2.1. Introduction ............................................................................................... 2-1 2.2. “Basics” of Financial Internal Control ........................................................ 2-2 2.2.1. Minimum Internal Control Processes ........................................................ 2-2 2.3. Annual Report to the Board ...................................................................... 2-5 2.4. Audit ......................................................................................................... 2-6 2.4.1. External audit ............................................................................................ 2-6 2.4.2. Internal audit ............................................................................................. 2-6 Section-3 Board Policy Statements – Chief Executive Empowerment Policies ...........

FAQs

What is included in the board policy statements for chief executive empowerment?

It lists multiple board policy statements, including policies for finance, operational and financial planning, asset protection, fares, capital expenditure, investment and treasury, restricted funds, emergency reserve, internal financial control, operation of bank accounts, internal borrowing, and risk management and control.

Sep 4, 2026

Uploaded by Rizky