Page 11 - DCB 2019 Annual Report

DIVER CERTIFICATION BOARD OF CANADA

2019 Annual Report
2018 A
2018 Annual Report nnual Report

STATEMENT OF FINANCIAL POSITION
2018 Annual Report

DECEMBER 31 2017 2016
Table of Contents able of Contents
T Table of Contents
DIVER CERTIFICATION BOARD OF CANADA
Table of Contents
Who We Are We Are
ASSETS Who We Are 3
Who
3 3
DIVER CERTIFICATION BOARD OF CANADA
NOTES TO FINANCIAL STATEMENTS
Who We Are
International Recognition 3 3
3 3
CURRENT ASSETS STATEMENT OF FINANCIAL POSITION
DECEMBER 31, 2019
International Recognition
Cash Our Vision $ 279,833 $ 320,506 3 3
3 3
Our
Our Vision Vision
41,949
Accounts receivable 66,664 2018 3 3 2017
Our Vision
DECEMBER 31
Our Mission
Our Mission Mission
Our
3 3
HST receivable 1. MISSION AND VISION OF ORGANIZATION 12,398 6,963
Our Mission
Prepaid expenses Our Board of Directors 11,320 28,460 3 3
Our Board of Directors Board of Directors
3 3
Our
20,780
Inventory The Board is a not-for-profit organization under section 149 (1) of the Income Tax Act, and, as such,
7,875
Our Board of Directors
3
ASSETS
What We Do 4
What
What We Do We Do
4 4
is exempt from income taxes. Accordingly, no provision has been made in the accounts for income
What We Do
taxes.
Message from the Chairman $ 390,995 $ 405,753 5 4
5 5
M
Message from the Chairman essage from the Chairman
CURRENT ASSETS
Message from the Chairman
M Cash
LIABILITIES Message from the CEO $ 217,067 6 6 $ 6 5 279,833
Message from the CEO essage from the CEO
a) Vision
Accounts receivable
Message from the CEO
Auditor’s Report 77,756 7 6 66,664
Auditor’s Report ditor’s Report
7 7
Au
HST receivable
12,398
11,760
CURRENT LIABILITIES Diver Certification Board of Canada’s vision is of an internationally recognized national
The
Auditor’s Report
7
Fi Prepaid expenses
2,165
11,320
8
Financial Statements
Financial Statements nancial Statements for
$
certification scheme
10,488
$
10,058
Accounts payable and accrued liabilitiesthe occupational diving and ROV industry, guided by various stakeholders
8 8
20,780
8,841
Deferred revenue Inventory dedicated to the development and enhancement of the Canadian underwater industry
who are
25,714
19,896
8
Financial Statements
11
N Notes to Financial Statements
11
Notes to Financial Statements otes to Financial Statements
without personal gain or profit
Payroll source deductions 5,409 $ 317,589 11 390,995
4,624
$
Notes to Financial Statements
11
2021 Canadian Underwater Conference and Exhibition 41,181 35,008 15
15
15
b) Mission statement
2020 Canadian Underwater Conference and Exhibition
LIABILITIES 15
The mission of the Diver Certification Board of Canada is to provide a national Canadian certification
Cover Photos: Left - CDI Barge Right - DIT Chamber
CURRENT LIABILITIES
scheme for occupational diving and ROV personnel, based on a single national standard of
COMMITMENTS (Note 6)
$rsonal competency.
Accounts payable and accrued liabilities
competencies, in order to enhance industry safety by demonstrating pe 6,211 $ 10,059
NET ASSETS Deferred revenue - 25,714
Payroll source deductions 4,488 5,409
2. SIGNIFICANT ACCOUNTING POLICIES
370,745
UNRESTRICTED 349,814 10,699 41,182
The financial statements were prepared in accordance with Canadian accounting standards for not-
profit-organizations (ASNPO). The financial statements include the following significant accounting
policies:
COMMITMENTS (Note 6)
$ 390,995 $ 405,753
a) Fund accounting
NET ASSETS
Revenues and expenses related to program delivery and administrative activities are reported in the
Unrestricted Fund. This is the only fund in use for the period covered by these statements. 349,813
UNRESTRICTED
306,890
Approved by the Directors:
b) Cash and cash equivalents
Director $ 317,589 $ 390,995
The entity's policy is to disclose bank balances under cash and cash equivalents, including bank
balances and term deposits with a maturity period of three months or less.
Director
c) Capital assets
Approved by the Directors:
Capital assets additions are expensed in the year of acquisition. Capital assets of $10,994 (2018 -
$73) were expensed during the year
Director
Director
d) Revenue recognition
Director
Director
The Board recognizes grants and conference income in the period to which they relate and when
collection is reasonably assured. Certificate and accreditation fees are recognized when the
certificate is issued or accreditation granted and when collection is reasonably assured. Other
revenue is recognized when the risk and rewards have transferred and when collection is reasonably
assured.
Photo courtesy of CDA-Technical Institute
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