...as the system by which companies are directed and controlled. Corporate governance is the direction and control of an organization for the benefit of its stakeholders. While ‘corporate governance’ primarily refers to organizations with commercial and business operations, in particular limited companies, we use the term in its widest sense and apply it to all types of organization in the private and public sectors. The underlying principle for corporate governance is preclusion or palliation of the conflict of interests of stakeholders.[5] This is attained through the processes, policies, customs, laws and institutions which affect the manner in which the corporation is governed.[6] Simply put, corporate governance tries to foster accountability and transparency of people in corporate business so as to reduce the chances of conflict of interest. Good corporate governance...
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...TATA Capital Ltd. - Company overview History Tata Capital Limited is a subsidiary of Tata Sons Limited. The Company is registered with the Reserve Bank of India as a Systemically Important Non Deposit Accepting Core Investment Company and offers through itself and its subsidiaries fund and fee-based financial services to its customers. Headquartered in Mumbai, it has registered offices of its subsidiaries in Singapore and London. It is a trusted and customer-centric, one-stop financial solutions partner. It caters to the diverse needs of retail, corporate and institutional customers directly or through its subsidiaries. Core Value: ‘We only do what’s right for you’ (“Karein Wahi Jo Aapke Liye Sahi”) The Tatas are amongst the most respected business houses in the world. Tata Capital aims to bring the trust and expertise of the Tatas to an economically and socially relevant sector like financial services. The essence of brand Tata Capital is encapsulated in our brand proposition – ‘We only do what’s right for you'. The proposition reflects our strong resolve to deliver financial solutions that are ‘right’ for our customers and the society at large. Tata Capital seeks to build strong relationships with its customers and deliver superior and consistent customer experience across all products and touch-points. Vision The most admired financial solutions partner. Mission We will only do what’s right for all our stakeholders, including our employees, customers...
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...edits documentaries, sports, and various events. However, during the trial the employees of Quick Takes Video, along with management, claim the product did not function properly under the agreed leasing arrangement. Nonetheless, Non-Linear Pro has taken legal action against Quick Takes Video stating they are liable for $5,000 for the use of its editing system. Quick Takes Video may countersue Non-Linear Pro under section 2A-201 of the Uniform Commercial Code (UCC) that is the basic Statute of Frauds provision for contracts for the leasing of goods (Cheeseman, 2010). In this paper the authors will identify the potential tort risk of Product Liability that has escalated between the two companies. The authors will also discuss how the proper design and execution of an Enterprise Risk Management (ERM) system would help Non-Linear Pro avoid accusations that its sales team is misrepresenting the product and using fraudulent tactics to influence customers to purchase its equipment. Management Commitment to ERM The ability to manage risk is essential to the health and viability of business. It is impossible to eliminate risk; however, development of ERM systems will help mitigate risks inherent to most organizations. ERM has to begin at the top of the organization. The board of directors and corporate executives must communicate the vision and set the proper culture for the company (Rodriguez & Edwards, 2012). In...
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...FINAL DRAFT INTERNSHIP REPORT ON “Financial performance analysis of IDLC Finance Limited in compare with Langkabangla Finance Limited” An Internship Report Presented to the Faculty of Business Administration in Partial Fulfillment of the Requirements for the Degree of Bachelor of Business Administration Supervised By: Abdus Shahed Faculty, School of Business Administration Department of Finance Submitted By: Islam Md. Zahidul ID # 07-08909-2 Major: Finance & Accounting Date of Submission: 27/December/2009 FINAL DRAFT INTERNSHIP REPORT ON “Financial performance analysis of IDLC Finance Limited in compare with Langkabangla Finance Limited” Letter of Transmittal 27 December, 2009 Mr. R. Tareq moudud, FCMA Director, Office of Placement & Alumni (OPA), American International University-Bangladesh Banani, Dhaka. Subject: - Submission of the report on “financial performance analysis of IDLC finance ltd in compare with lankabangla finance ltd.” Dear Sir, With due respect, I tried to give my honest and maximum effort in this report. As far as I believe that the information of this is genuine and true. Despite of that, there might be some mistakes which were not noticed by me because of my inexperience. By collecting information for this report I also learn something very extra in practical. I would like to know you thanks from me for giving me such a great job and opportunity like this to prove my ability in making a quality report. If any...
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...Chapter One Introduction 1.1 Origin of the Report Non-Banking Financial Institutions represent one of the most important segments of the financial system of Bangladesh and play a very important role in mobilizing and channeling resources In the present day socio-economic scenario, the leasing companies have been continuously playing an increased role in financing industry, trade and commerce and housing, thereby contributing significantly to the economic development of the country. The leasing sector has contributed significantly over the years, despite several constraints. With the challenges of time, the overall growth of the leasing business achieved through diversification of products and services and aggressive marketing with special focus on the SME sector, is indicative of the industry’s contribution to our national economy. It is worth mentioning that, within two decades; the leasing companies have emerged as an alternative source of finance and well sought after arm for credit for SMEs. In order to catch up with the demands of time, most leasing companies have diversified their products and services into other areas like small loans, housing loans, start-up working capital and domestic factoring of accounts receivable. Further to reducing dependence on traditional borrowings from banks for meeting their working capital requirements, some of them have already introduced new financial instruments like Bonds, Securitization of Assets, Syndication...
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...From Processes to Promise: Ivanka Visnjic Business Models Research Lead, Cambridge Service Alliance Assistant Professor, ESADE Business School How complex service providers use business model innovation to deliver sustainable growth Andy Neely Director, Cambridge Service Alliance Founder members: Judge Business School The Cambridge Service Alliance The Cambridge Service Alliance is a unique global partnership between businesses and universities. It brings together the world’s leading firms and academics, all of whom are devoted to delivering today the tools, education and insights needed for the complex service solutions of tomorrow. About the Cambridge Service Alliance Founded in 2010 by BAE Systems, IBM and the University of Cambridge’s Institute for Manufacturing and Judge Business School, the Cambridge Service Alliance brings together world-leading organisations with an interest in complex service systems to: • Conduct insightful, yet practical research to improve the design and deployment of high-performance complex service systems. • Create and develop industrially applicable tools and techniques that deliver competitive advantage. • Provide an unparalleled network of academics and industrialists that share experience, knowledge and insight in how better to design and deploy high performance complex service systems. • Develop and deliver public and member-only education programmes to raise the skill levels of organisations. Joining the Cambridge...
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...discrepancies, eliminating unnecessary premium costs and reducing shipment overages. Plus, Penske implemented accountability procedures and advanced logistics management technologies to gain more visibility of its overall supply network. Six Sigma initiatives streamline operations Penske Logistics began its relationship with Ford as lead logistics provider (LLP) for Ford’s assembly plant in Norfolk, Va. At the time, each of Ford’s 20 North American assembly plants managed its own logistics operations. A decentralized approach provided total control of logistics at the plant level, but presented costly redundancies in materials handling and transportation. Ford conducted studies to determine the benefits of transitioning the company’s decentralized logistic operations to a centralized approach. The decision was quickly apparent – centralization of the company’s logistics operations would increase both velocity and visibility throughout the network, as well as reduce supply chain costs. Shortly thereafter, Ford selected Penske as its North American LLP. Under the contract, Penske would centralize and manage all inbound materials handling for 19 assembly plants and seven stamping plants. Challenges • To develop, implement and operate a centralized logistics network for Ford • To streamline supplier and carrier operations for improved performance and accountability • To provide Ford...
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...discrepancies, eliminating unnecessary premium costs and reducing shipment overages. Plus, Penske implemented accountability procedures and advanced logistics management technologies to gain more visibility of its overall supply network. Six Sigma initiatives streamline operations Penske Logistics began its relationship with Ford as lead logistics provider (LLP) for Ford’s assembly plant in Norfolk, Va. At the time, each of Ford’s 20 North American assembly plants managed its own logistics operations. A decentralized approach provided total control of logistics at the plant level, but presented costly redundancies in materials handling and transportation. Ford conducted studies to determine the benefits of transitioning the company’s decentralized logistic operations to a centralized approach. The decision was quickly apparent – centralization of the company’s logistics operations would increase both velocity and visibility throughout the network, as well as reduce supply chain costs. Shortly thereafter, Ford selected Penske as its North American LLP. Under the contract, Penske would centralize and manage all inbound materials handling for 19 assembly plants and seven stamping plants. Challenges • To develop, implement and operate a centralized logistics network for Ford • To streamline supplier and carrier operations for improved performance and accountability • To provide Ford...
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...I. INTRODUCTION An important function of a public housing agency is to track and manage its inventory to include materials, supplies, tools, equipment, vehicles, appliance, etc., while maintaining a strict system of accountability and internal control. It is essential. To any effective public housing operation to have a system in place that ensures that the necessary supplies, parts, tools, and equipment are on hand to perform needed maintenance repairs to the units, buildings, grounds, and other PHA property. Housing Agencies between 250-400 public housing units are required to operate using Project Based Budgeting and Accounting unless they have opted out of asset management (an option under current rules as of the date of this writing). All PHAs are required to manage their inventory regardless of the number of projects and whether or not they are operating under asset management. If they are operating under asset management, they should maintain inventory by project unless utilizing a centralized warehouse for inventory, further discussed below. A. PURPOSE The purpose of this manual is to familiarize you with effective management, tracking, and accountability procedures for both non-expendable and expendable items in accordance with Project Based Budgeting and Accounting requirements. Objectives: Develop an understanding of inventory management requirements under Project Based Budgeting and Accounting. * Use the basic principles of maintaining and...
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...Development of Non Bank Financial Institutions to Strengthen the Financial System of Bangladesh - MONZUR HOSSAIN∗ -MD. SHAHIDUZZAMAN∗ Abstract Non-bank financial institutions (NBFIs) represent one of the most important parts of a financial system. In Bangladesh, NBFIs are new in the financial system as compared to banking financial institutions (BFIs). Starting from the IPDC in 1981, a total of 25 NBFIs are now working in the country. As on June 30, 2001 the total amount of paid up capital and reserve of 24 NBFIs stood Tk.6901.8 million (BB, 2002). The NBFIs sector in Bangladesh consisting primarily of the development financial institutions, leasing enterprises, investment companies, merchant bankers etc. The financing modes of the NBFIs are long term in nature. Traditionally our banking financial institutions are involved in term lending activities, which are mostly unfamiliar products for them. Inefficiency of BFIs in long-term loan management has already leaded an enormous volume of outstanding loan in our country. At this backdrop, in order to ensure flow of term loans and to meet the credit gap, NBFIs have immense importance in the economy. In addition, non-bank financial sector is important to increase the mobilization of term savings and for the sake of providing support services to the capital market. The focus of this paper is to highlight the necessity and importance of NBFIs to strengthen the financial system for rapid economic development of the country. 1. Introduction...
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...Problems facing the U.S. Banking sectors There are still a number of problems that face the U.S banking sector. The banking industry is slowly emerging from the financial crises of 2008 that left its reputation battered and tarnished. This has created a much tougher and a more competitive market. There are around 7,200 commercial banks in the United States. I will identify some of the problems as well as suggest some policy recommendations to resolve these issues in order to overcome and help strengthen and growth this sector. Regulatory issues, emerging technology demands and customer service focus are three main areas I have identified as well as will provide suggestions and recommendations for in the paper. The U.S. banking sector continues to face a great deal of uncertainty in regards to regulations. Bank regulations in the United States are highly fragmented when compared to other countries. Most countries only have one bank regulator as opposed to the United States that is regulated at both the federal and state level. Within those federal and state levels there are a number of regulations that were delayed and or are still being defined. This causes a great deal of uncertainty in regards to the costs associated with complying with these new proposed standards and regulations. In addition, it makes in tough for these institutions to predict or implement a long term strategic plan when there is so much uncertainty with policy in the upcoming years. ...
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...Internship Report on Functions oF credit risk management in non Banking Financial institutions (nBFi) in Bangladesh A study on IDLC Finance Limited Internship Report on Functions oF credit risk management in non Banking Financial institutions (nBFi) in Bangladesh A study on IDLC Finance Limited Submitted to: Sharmin Shabnam Rahman Dewan Mostafizur Rahman Internship supervisor of the submitter BRAC Business School (BBS) BRAC University Submitted By: Chowdhury Tasmiah Jabeen ID-06104024 BRAC Business School (BBS) BRAC University Date of Submission: 23rd December 2009 Letter of Transmittal_______________________ 23rd December 2009 Sharmin Shabnam Rahman BRAC Business School (BBS) BRAC University Subject: Submission of Internship Report of BBA Programme Dear Madam, It is my great pleasure to submit the internship report on "Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd " which is a part of BBA Programme to you for your consideration. I made sincere efforts to study related materials, documents, observe operations performed in IDLC Finance Limited and examine relevant records for preparation of the report. Within the time limit, I have tried my best to compile the pertinent information as comprehensively as possible and if you need any further information, I will be glad to assist you. Thanking you, Chowdhury Tasmiah Jabeen ID-06104024 BRAC...
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...institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include labor(employees), customers, creditors (e.g., banks, bond holders), suppliers, regulators, and the community at large. These are some definitions given under the Corporate governance; The simple meaning of the Corporate governance is the relationship between corporate managers, directors and the providers of equity, people and institutions who save and invest their capital to earn a return. It ensures that the board of directors is accountable for the pursuit of corporate objectives and that the corporation itself conforms to the law and regulations. - International Chamber of Commerce "Corporate Governance is concerned with holding the balance between economic and social goals and between individual and communal goals. The corporate governance framework is there to encourage the efficient use of resources and equally to require accountability for the stewardship of those resources. The aim is to align as nearly as possible the interests of individuals, corporations and society “ "-(Sir Adrian Cadbury in 'Global Corporate Governance Forum', World Bank, 2000) Company’s financial statement is very important for the external users especially...
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... Sampath Bank PLC, Sri Lanka | 09.47% | 2. | Local Sponsors: | a) | One Bank Limited, Bangladesh | 04.86% | 29.09% | b) | SSC Holdings Limited, Bangladesh | 01.07% | | c) | Shanta Apparels Limited, Bangladesh | 01.74% | | d) | Others - Bangladeshi Individuals | 21.42% | | 3. | General Shareholders: | 61.44% | Shareholding Structure | 100.00% | | LankaBangla Finance went for public issue in 2006 and its shares are listed in both Dhaka Stock Exchange and Chittagong Stock Exchange since 17-October-2006 and 31-October-2006 respectively. LEASE FINANCE Leasing is a medium- term funding facility in the form of an agreement by contract between a “lessor” and a “lessee” upon which the latter is entitled to use the lessor’s asset in return for regular payment of rental for a fixed period of time. At the end of the leasing period, the lessee has the option to buy the...
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...Table of Contents Introduction……………………………………………………………………………………..1-2 Issues………………………………………………………………………………………………2 The Discovery of Fraud……………………………………………………………………..…..3-4 Corporate Governance of FCB……………………………………………………………………5 Auditor Dilemma……………………………………………………………………….……….5-7 Using the Fraud Triangle Model to analyze the situation in Flat Cargo Berhad……………..…8-9 Who is responsible in the fraud of Flat Cargo Berhad ……………………………………..…10-11 Prevention Measures for Fraud ……………………………………………………………….12-13 Detection Measures for Fraud…………………………………………………………...……14-15 Recommendation…………………………………………………………………….……….16-17 Conclusion…………………………………………………………………………...……….18-19 References………………………………………………………………………………………..19 Introduction The case is related to one company known as Flat Cargo Berhad (FCB), FCB was one of the largest air freight companies in Malaysia which servicing several government linked companies including Freight Malaysia Berhad. FCB is a listed company and was registered as an investment holding company with several subsidiaries. Among its subsidiaries are FC Spare Sdn Bhd, Cargo Management Sdn Bhd, FCB (SPV) Ltd, Cargo Air Services Sdn Bhd and FC Air Ltd. FCB started its operations in 1997 with two aircrafts: a Boeing 737-200F and a Cessna Grand Caravan. FCB’s major shareholder in 1997 had been Bangor Berhad, which was part of a diversified international family owned conglomerate, the Miri Group. On September 2001 the company was listed in Bursa Malaysia. The...
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