The Journal of the Siam Society Vol. LXXI, Part 1-2, 1983 - Khamkoo

L PROPERTY AND EQUIPMENT
THE SIAM SOCIETY
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1982 AND 1981
The Society has adopted the practice of recording donated properties at
nominal values. . Because of the nature of the Society's activities, it has not put
emphasis on establishing the current values of these properties. In the past, the
Society had obtained a valuation for its land which was quoted at Baht 7.2 million.
Furniture, fixtures and office equipment are being depreciated by the. declining
balance method; whereby the depreciation rate of 10%-20% are being applied on the
net book value at the beginning of each year, while the transportation equipment is
depreciated by the straight-line method of five years. Depreciation expense amounted
to Baht 125,127 in 1982 and Baht 138,423 in 1981.
2. PROVIDENT FUND
The Society established a funded providen~ fund covering all full-time employees.
Contributions to.the fund by both members and the Society are based "on 5% of
the employees' basic salaries. Benefits as defined in the plan, are payable upon
retirement, death or separation from the Society.
The provident fund expenses .during the years are composed of:
Retroactive adjustment for
provident fund expenses for
periods prior to January 1, 1981
Current year's contribution
Amount reversed from staff welfare fund
In Baht
1982 1981
211,206
30,409
(44,435)
197,234
27,290
27,290