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EKONID
ANNUAL REPORT
2011
The financial position of EKONID was audited as of December 31
st
, 2011 by the independent, registered
public accountant Drs. Bayudi Watu & Rekan in accordance with the accounting principles generally
accepted in the Republic of Indonesia.
Reflecting its character as a non-for-profit organization, EKONID’s balance sheet is dominated by cash
and cash equivalents.
As income EKONID receives contributions from its members, fund for development projects, income
from business promotion and trade fair activities. The subsidies from the German government and other
government or institutional funded projects are displayed.
The large increase in grant funded projects – mostly the EU funded Clean Batik Initiative (CBI) –
influenced the financial position of EKONID significantly in 2011.
Overall EKONID was able to fulfill its obligations towards the authorities, its staff as well as suppliers
and is at the end of the year 2011 in a financially sound position.
FINANCIAL REPORT 2011
