...Accounting for Ngo's in Bangladesh 1. INTRODUCTION As globalization and international trade impact societies, non-government organizations have become increasingly influential in world affairs. Now, there are about twelve thousand NGOs in all over the world operating in most countries. These organizations are not directly affiliated with any national government, but often have a significant Impact on the social, economy and political activity of the country or region involved. So, we can say that NGOs have become major players in the field of international and national development. But Bangladesh has largely failed to assist the poor or reduce poverty because of limited resources and planning, while NGOs have grown dramatically, but it ostensibly fails to fill this gap. There are more and bigger NGOs here than in any other country of equivalent size. Here, NGOs have mainly functioned to service the needs of the landless, usually assisted by foreign donor funding as a counterpoint to the state's efforts. Besides all these, in the field of NGO, Financial Reporting process and application of accounting is disgraceful. NGOs in Bangladesh have increasingly become subject to question and criticism from the government, political parties, intellectuals and the public in genus for misuse of funds, gender discrimination, and nepotism. Absence of proper guidelines in preparing financial statements and reports makes it more complex. The government of Bangladesh doesn’t...
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...political activity of the country or region involved. So, we can say that NGOs have become major players in the field of international and national development. Bangladesh has largely failed to assist the poor or reduce poverty because of limited resources and planning, while NGOs have grown dramatically, but it ostensibly fails to fill this gap. There are more and bigger NGOs here than in any other country of equivalent size. Here, NGOs have mainly functioned to service the needs of the landless, usually assisted by foreign donor funding as a counterpoint to the state's efforts. Besides all these, in the field of NGO, Financial Reporting process and application of accounting is disgraceful. NGOs in Bangladesh have increasingly become subject to question and criticism from the government, political parties, intellectuals and the public in genus for misuse of funds, gender discrimination, and nepotism. Absence of proper guidelines in preparing financial statements and reports makes it more complex. The government of Bangladesh doesn’t have any unique rules for preparing the financial reports. In this report we will discuss about the financial reporting and Accounting system of NGOs and hopefully, the analysis and discussion of reporting systems will give guidance and support to the NGOs about the generation of accounting systems and reporting procedure, and to maintain a transparent system of utilizing grants. 1.2 Statement...
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...Internship Report On NGO Accounting Practices in Bangladesh-A Case Study on BRAC Submitted to: Dr. Mahfuzul Hoque Professor Department of Accounting & Information Systems Faculty of Business Studies University of Dhaka Submitted by: Syeda Marzana Farha Roll No-11097 M.B.A. 11th batch Department of Accounting & Information Systems [pic] University of Dhaka CHAPTER 1 Introduction 1.1 Background The internship program is a pre-requisite for the MBA degree from the Faculty of Business Administration, University of Dhaka. In today’s world, education is the imperative tool for understand the real world and apply knowledge for betterment of the society as well as in Business Sector. From the education session the theoretical knowledge is obtained from various courses throughout the programs, which is only the half way of the subject matter. Practical knowledge has no alternative. The perfect coordination between theory and practice is of paramount importance in the context of modern business Graduates to get 12 weeks practical experience, that is Internship Program. Internship program brings student closer to the real life situation and thereby helps to launch a career with some prior experience. Internship is a step towards fulfilling this commitment by giving students an opportunity to get ready for the real world before they enter their practical...
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...the ever-changing global economic demands dominated by WTO regime, the ICAB is fast becoming a body of professionals whose have ability. The main research objective is to determine "the development of financial accounting and the role of ICAB". Their literature review describes the main viewpoints in the literature, strategies of various viewpoints and so on. The development of accounting not very easy project or analysis subject in accounting policy. So many companies are trying to do their best to develop their accounting in finance. Which prompt us to formulate some hypotheses; this methodology helps us to see the development of financial accounting as a spot shoot. This methodology also enables us to explain the academic value of our research on this topic; and enable us to define the method and technique of financial accounting. The Institute of Chartered Accountants of Bangladesh (ICAB) has been constantly pursuing that noble duty in the CA professionals. ICAB is the sole apex body responsible for regulating the profession of accountants and the matters connected therewith in Bangladesh established under the Presidential Order No. 2 of 1973. ICAB has two regional Offices and two regional committees in Dhaka and Chittagong. Introduction: A field of accounting that treats money as a means of measuring economic performance instead of as a factor of production. It encompasses the entire system of monitoring and control of money as it...
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...1. Name & Number of banking & other financial institutions. (Category wise updated data) Bangladesh Bank Bangladesh Bank has been working as the central bank since the country’s independence. Its prime jobs include issuing of currency, maintaining foreign exchange reserve and providing transaction facilities of all public monetary matters. Bangladesh Bank regulates and supervises the activities of all banks. Bangladesh Bank is also responsible for planning the government’s monetary policy and implementing it thereby. The Bangladesh Bank has a governing body comprising of nine members with the Governor as its chief. Apart from the head office in Dhaka, it has nine more branches, of which two in Dhaka and one each in Chittagong, Rajshahi, khulna, Bogra, Sylhet, Rangpur and Barisal. Category of Bank in Bangladesh |Category |Number of banks | |Nationalized Commercial Banks |4 | |Local Private commercial banks |30 | |Foreign Private Banks |9 | |Specialized Banks of Bangladesh |5 | |Renowned Financial Institutions...
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...Accounting System and Financial Reporting of NGOs: Case Study of a BRAC’s Project Munima Siddika1, Mohammad Sarwar Jahan Rekabder2 and A.K.M. Delwar Hossain3 tawheedfj@yahoo.com Abstract: In the absence of specific accounting and financial reporting standards and diverse interpretation of certain terms under the laws of the land, it has become a very difficult task to follow a standardized procedure in generation and presentation of accounting and financial information of NGOs. The practices followed by NGOs in Bangladesh are varied and diverse and there by preparation of financial statements are incomparable and difficult for uses to understand. The paper tries to demonstrate financial reporting and accounting system of a BRAC’s project and provide a guideline for constituting suitable financial reporting and accounting systems for NGOs. The article elaborates on basis of preparation of financial statements and reporting procedure and then followed by accounting systems of regional office and head office of that project. The final part of the article discuses issues relating to financial report and financial transparency of the project. Munima Siddika, Lecturer, Faculty of Business and Economics, Daffodil International University, 102 Sukrabad, Mirpur Road, Dhaka-1207, Bangladesh. Mohammad Sarwar Jahan Rekabder, Lecturer, Faculty of Business and Social Studies...
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...faced stronger competition from other sectors also seeking financial government support. In the budget for fiscal year 2011-2012 the government has proposed Tk 19,873 crore for education sector with Tk 10,850 crore for the Education ministry The proposed volume is Tk 1725 crore more than that of the allocation of Tk 18,148 crore in the fiscal year 2010-2011. In 2010-2011 fiscal year the allocation for the technical and vocational education was 233.64 crore which was 14.98% of total education development program, where the total spending on education development program was 1624.69 crore. 1.2 Objectives of the Study The main objectives of the study are – a. To find out the allocated amount from the national budget of Bangladesh for the technical and vocational education is enough or not b. To find out the means by which the technical and vocational education can be...
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...Financial support for MSME in Bangladesh The SMEs worldwide are recognized as the most effective vehicle for sustainable economic growth. In Bangladesh , a sustainable level of development of small and medium enterprises (SMEs ) is highly needed to reach the targets set by The United Nations (UN) in the millennium Development Goals (MDGs) to alleviate poverty . This urgency is reflected in the Government’s pro-poor policies, especially in the poverty reduction strategy paper (PRSP) . Small and Medium Enterprises in Bangladesh have recently been considered as an important vehicles of poverty reduction strategy. For the first time, the comprehensive Industrial Policy 2005 highlighted SME development as a flagship policy area for balanced and sustainable industrial development in Bangladesh. Availability of finance is thought to be a major constraint to formation and growth of SMEs in Bangladesh. Banks are reluctant to expand their SME credit portfolio because they do not consider SME lending an attractive and profitable undertaking. This is so because SMEs are regarded as high risk borrowers because of their low capitalization, insufficient assets and their inability to comply with collateral requirements of the banks. Administrative costs are also higher because close monitoring and supervision the SME operation becomes necessary. Despite all these facts banks and financial institutions have been providing finance to the SME sector and the volume of finance is showing...
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...Micro-Finance in India Micro-Finance in India Submitted by: S.GINMUANSANG NGAIHTE This project work is submitted as fulfillment of the requirement of B.COM(hons) Part III of Delhi University Submitted to: Prof. Shuchi Pahuja PGDAV college, Delhi University. Submitted by: S.GINMUANSANG NGAIHTE This project work is submitted as fulfillment of the requirement of B.COM(hons) Part III of Delhi University Submitted to: Prof. Shuchi Pahuja PGDAV college, Delhi University. Shri Ram College of Commerce B.Com(h) Part-III Roll no.13/10 #9650430713 [Type the fax number] [Pick the date] Shri Ram College of Commerce B.Com(h) Part-III Roll no.13/10 #9650430713 [Type the fax number] [Pick the date] DECLARATION I S.Ginmuansang Ngaihte hereby declare that the Project entitled Micro-finance in India submitted to University of Delhi in fulfillment for the degree of Bachelor in Commerce (honors). Whatever is written in this project is a bonafide work of mine and to the best of my knowledge. Place: Signature Date: ACKNOWLEGDMENT The satisfaction and euphoria that accompanied the successful completion of any task would be incomplete without the mention of the people who made it possible, whose constant guidance and support led to ultimate success. I would like to take this opportunity to express my profound gratitude and respect to my mentor Dr. Shuchi Pahuja, Associate Prof...
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...Internship Report on “An Analysis of Financial Performance of BRAC Bank Ltd” Supervised By: Sk. Habibur Rahaman Senior Lecturer Manarat International University Prepared by: Al Sukran ID-1413MBA50346 Manarat International University Department of Business Administration Manarat International University Date of Submission: January 30, 2015 Internship Report on “An Analysis of Financial Performance of BRAC Bank Ltd” Supervised By: Sk. Habibur Rahaman Senior Lecturer Manarat International University Signature of Supervisor Prepared by: Al Sukran ID-1413MBA50346 Manarat International University Department of Business Administration Manarat International University Date of Submission: January 30, 2015 LETTER OF TRANSMITTAL January 30, 2015 To Sk. Habibur Rahaman Senior Lecturer Department of Business Administration Manarat International University Subject: Submission of Internship Report on “An Analysis of Financial Performance of BRAC Bank Ltd” Dear Sir, With due respect to state that I am AL SUKRAN, ID-1413MBA50346 is a student of Masters of Business Administration of Manarat International University. I am delighting to submit here with a copy of internship report for your kind evaluation and appreciation. I have given my best effort to prepare the report with relevant information that I have collected from BRAC BANK LTD and from other sources during my internship program...
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...INTRODUCTION Normally Bangladesh is country where most people suffer from malnutrition. There are lots of people who suffer from this problem, to eradicate every government take many steps. But not always every step bears fruits. In most cases these steps wont work. Because of lack of monitoring and awareness efforts. The government efforts are given; The public health nutrition program under the Ministry of Health and Family Welfare of Bangladesh is operated through Institute of Public Health Nutrition (IPHN) and two major programs under the Health, Nutrition and Population Sector Program (HNPSP). These two programs are Micronutrient Supplementation (MS) and National Nutrition Program (NNP). The IPHN and MS work under the Directorate General of Health Services (DGHS) and the NNP works directly under the ministry. Conventionally the director of IPHN works as the line director of MS, and nutrition programs of both IPHN and MS are carried out under one platform. The programs include: (a) Control of micro-nutrient deficiencies focusing nutritional blindness of vitamin A; (b) Control of Protein Energy Malnutrition (PEM); (c) Control and prevention of iron deficiency and other nutritional anemia; (d) Control of iodine deficiency disorders and other micronutrient problems; (e) School health nutrition education program targeting school children; and (f) Revitalization of existing baby friendly hospitals. The programs of IPHN and MS cover the entire country. The coverage of NNP,...
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...August 5, 2010 Fatema-Tuz-Zohra Instructor Department of BBS BRAC University Subject: Submission of term paper Dear Madam, Here is the report on Grameenphone as you asked to prepare at our class. We are very grateful to you for encouraging us to do this term paper. With great pleasure we are submitting this report as an integral part of our course by surveying by a hypothetical questionnaire regarding this issue for completing the term paper. Working for this report has definitely enriched our knowledge and experience. We are really thankful to you for giving us such a splendid opportunity to give you the report by conducting a survey, which is authentically based on team efforts. We appreciate this kind of report by our heart. And should you need any assistance in interpreting our report, please call us; we are at your service. Sincerely yours, MD. Navid Hossain Chowdhury ID: 10304078 Adnan Khalil Fahim ID: 10304092 Tahsin Hafiz ID: 10103024 Acknowledgement There are many distinguished persons who have contributed their valuable time and information in the preparation of this paper. We have to show respect to those person for their contribution in this...
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...INTRODUCTION Normally Bangladesh is country where most people suffer from malnutrition. There are lots of people who suffer from this problem, to eradicate every government take many steps. But not always every step bears fruits. In most cases these steps wont work. Because of lack of monitoring and awareness efforts. The government efforts are given; The public health nutrition program under the Ministry of Health and Family Welfare of Bangladesh is operated through Institute of Public Health Nutrition (IPHN) and two major programs under the Health, Nutrition and Population Sector Program (HNPSP). These two programs are Micronutrient Supplementation (MS) and National Nutrition Program (NNP). The IPHN and MS work under the Directorate General of Health Services (DGHS) and the NNP works directly under the ministry. Conventionally the director of IPHN works as the line director of MS, and nutrition programs of both IPHN and MS are carried out under one platform. The programs include: (a) Control of micro-nutrient deficiencies focusing nutritional blindness of vitamin A; (b) Control of Protein Energy Malnutrition (PEM); (c) Control and prevention of iron deficiency and other nutritional anemia; (d) Control of iodine deficiency disorders and other micronutrient problems; (e) School health nutrition education program targeting school children; and (f) Revitalization of existing baby friendly hospitals. The programs of IPHN and MS cover the entire country. The coverage of NNP,...
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...Abstract The objective of this study is to have practical knowledge on the Retail Banking services provided by the Private Conventional Banks and the Islamic banks in Bangladesh. Today, banks realize the importance of Retail Banking and its potential to help them acquire new customers, retain existing ones and maximize their lifetime value. this report provides an overall view of Retail Banking services in Bangladesh. the services provided by Private Conventional Banks and the Islamic banks are mentioned. Followed by are the products that are being used to provide these services. A trend of the retail banking services is done in the analysis part of this report. The Islamic banking concept is being adopted by some of the Private Commercial Banks to generate better understanding of the customer for product development, segmentation, appropriate targeting, campaign management and maintenance of long term profitable and mutually beneficial relationships with customers. The concept of Islamic Banking has been implemented on a vast scale. To meet the objective of the report a trend analysis of the retail deposit indicators,retail deposits and loans and advances is done in the fifth part of the report. there growth is also shown with line graphs. A comparison is also made between the PCB's retail banking services and that of IB's. In part six findings are listed and some recommendations are also made accordingly. Table of Contents Sl No | Topic | Page No. | 1.0 | Introduction1...
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...Free Trade Agreement (FTA) FTA & Trade Blocs are the same thing but Trade Bloc is the wider picture. FTA * An agreement between two or more countries to create a free trade area; that us an area in which all barriers to trade among them are removed or modified, although sometimes only for certain specified goods and services. * All barriers -> often not all the barriers are removed * Trading blocs may create FTA with other countries Trade Bloc * It is formed by an agreement among countries to establish links through the movement of goods, services, capital and labor across borders. * A large free trade area or free trade area formed by one or more tax, tariff and trade agreements. * It is the outcome of an agreement between countries to facilitate the movement of goods, services, labor and capital across borders. * Trade blocs can lead to: * Lower financial transaction costs * Lead to economies of scale…via larger markets * Result in cheap cross border transaction costs * Provide greater transparency…via new accountabilities and uniformity of regulations and procedures * Benefits of trade bloc * Trade facilitation via assisting Foreign Direct Investment * An increase in foreign direct investment results from trade blocs and benefits the economies of participating nations. * Lager markets are created, resulting in lower costs to manufacture products locally. * Enabling...
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