Governance , Accounting and Integrated Reporting

Organization and Significant Accounting Policies Organization-Indian Association of Blood Cancer & Allied Diseases (the “Association”) is a non–profit health care agency dedicated to seeking the cause and cure of leukaemia, thalassaemia haematological disorders and myeloma and improving the quality of life of patients and their families. The association’s principal activities include: medical care to patients suffering from blood cancer and blood diseases; facilitating psychosocial support to patients and their families; providing blood banking and blood transfusion services, running awareness and information resource centre; conducting research and disseminating educational information about blood cancers in the form of publications, internet sites, conferences and symposia for both the medical community and the general public.
Principles of Consolidation-The accompanying consolidated financial statements include the accounts of all medical service units, publications, awareness, treatment unit and resource mobilization programmes.
Tax-Exempt Status-The association qualifies as a charitable organization as defined by Income Tax Act, 1961 under section 12 A and exempt from income tax under section 80G IT Act.
Fund Utilization-Funds/ grants/ contributions/ donations are utilized for programme implementation, supporting services and purchasing assets to render services. Utilization of funds are based upon donor imposed guidelines and existing provisions of Income Tax rules.

Fixed Assets and Depreciation
Fixed assets, which consist principally of equipments, furniture, vehicles, premises are recorded at cost, if purchased, or at fair value at date of donation, if contributed, and are depreciated or amortized using the straight-line method over the estimated useful lives of the assets ( depreciation method is guided by appropriate authority of IT Department.

Audit- Accounts are audited on a regular basis by qualified Chartered Accountant and Audit Report is being prepared as per provisions of under section 12 A( b) of IT Act and reported through Form 10 B and duly submitted to the Prescribed Authority .
Summarized Financial Information, Governance and Responsibility-The yearly financial statements are presented in the form Income and Expenditure Statement and Balance Sheet ( Sources of Fund, Application of Fund, Investment , Assets and Liabilities). The Board of Directors is responsible for proper transparency and accountability for all financial transactions adopting all best practices, complying all legal and stakeholder requirements. The board is also responsible to present and submit all reports, financial statements, utilization of funds and services in a fair manner adopting ethical practices in governance. The Board of Directors is an active and responsible governing body whose members serve without compensation and have no material conflict of interest.