...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. 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...
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...AccountAble Handbook Budget & Balance Report vFkZ'kkL= Corpus Voucher NGO Fixed Assets Register Grants Accounting Standards Narration Receipts and Revenue Stamps Benedetto Cotrugli Ledgers Regulation Cash Box Revolving Funds Accounting Multiple Cash Books Trial Balance Auditors Computerized Accounts Deficit Endowments Investments Journal Honorarium Form IIIA Bank Reconciliation Account Payee, Not Negotiable ction 10(23C)(iv) Blank Cheque Tax Exemption vkpk;Z dkSfVY; Key Persons ACCOUNTABILITY Contribution in Kind INCOME Transparency Public Disclosure Auditors’ Certificate Debit Stock Register Receipts & Payments Societies Registration Act, 1860 Public Trust TM AccountAid India Section 25 Non-profit Company Section 80G New Delhi Donation Ear-marked Funds Salary Register izfrxzkgdSÜpk;a Gratuity Conflict of Interest About this book (front inside cover) The AccountAble Handbook is a compilation of the individual issues of ‘AccountAble’, released by AccountAid India since 1994. These issues have been designed and circulated on a monthly basis primarily for the partners of our client Agencies. ‘AccountAble’ is circulated to about 1,200 persons, including Chartered Accountants. It is also available through e-mail, on a complimentary basis. The present compilation brings all issues of AccountAble related to accounting and regulation of non-profit organisations together at one place. Issues related...
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...Higher Education Crisis Dr Kumud Ch. Goswami Professor &Head, Deptt. of Commerce Dibrugarh University Email ID:goswamikumudchan@yahoo.co.in Mobile No:09435390988 University education in India is having a very rich heritage. Starting from Nalanda and Takshashila to the universities established during the British rule and the universities as of today we have a very strong institutional arrangement to carry on the process of higher education not only for our citizens but also for foreign nationals. For maintaining standard of higher education in our country there have been some national level bodies like the UGC, NAAC, AICTE and over and above we have a separate ministry for it called Ministry of Human Resource Development (MHRD). As per the UGC guidelines the Indian universities are to follow democratic principle to govern a university. As such the universities are created by passing a statute in the concerned state legislative assembly in case of a state university and in case of a central university the same is done in the parliament. This statute is called respective University Act. Before passing a university act the concerned people’s representatives are supposed to examine each...
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...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 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...
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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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...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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...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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...Case study Bangladesh: Financial Linkages in Bangladesh Abdul Awal, Director, CDF Abstract: Microfinance in Bangladesh has almost reached the stage of a matured market. However, there are still substantial segments of potential clientele who are not serviced by any microfinance organization (MFI). Inadequate finance is one of the most important reasons MFIs have not reach these clients. Fund shortage is more prevalent among the smaller MFIs. Moreover, due to the scaling up of microenterprises of the existing clients, they are requiring larger loan amounts. On the other hand, though the formal financial organizations are burdened with significant amounts of excess liquidity, they are not in a position to directly provide services to microcredit clients - it is not viable. Even funding operations of smaller MFIs directly, are out of their reach. In such a situation, an effective linkage between the MFIs with financial constraint and banks with excess liquidity is a simple but highly effective solution. Introduction Poverty has always been on the development agenda in Bangladesh. In the history of this country, poverty has been rampant and presently Bangladesh is third in terms of number of poor following India and China. It is a densely populated country of only 150,000 square kilometers and a population of around 140 million. The country consists mainly of a flat delta plain. In addition to its very high population density, the country has a limited natural resource base and is...
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...Introduce Value Based Management in NGOs of Bangladesh Munima Siddika1 Abstract: Presently the rapid growth and diversification of the gigantic NGO sector of Bangladesh has given rise to questions and concerns, about their trade-offs between sustainability and pro-poor orientation; the impact and quality of services; corporate governance; management and accountability. The paper is based on a proposal to introduce a modern management system viz. value based management (VBM) in the NGOs of Bangladesh. Value-based management can be defined as an integrated management control system that measures, encourages and supports the creation of net worth. The report of Transparency International Bangladesh ‘Problems of Governance in the NGO Sector: The Way Out’ (TIB) 2007 is used here as an information source of finding out the flaws of existing management techniques. Finally the paper recommended implementation techniques of VBM in order to regain the image of the NGOs as a pioneer of social welfare in Bangladesh. Keywords: NGO, Transparency, Governance, Management, Strategies, Value Addition, Value Based Management etc. 1. Introduction Bangladesh has largely failed to assist the poor or reduce poverty because of limited resources and faulty planning, while Non Government Organizations (NGOs) have grown dramatically and ostensibly to fill up this gap. There are more and bigger NGOs here than in any other country of equivalent size. Bangladesh’s NGO sector is remarkable for the speed with...
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...Page |1 ABOUT US Bdjobs Training has been the biggest professional training house in the country. The tracks of its training programs include Marketing/Sales, IT , Commercial, Finance, Quality & Process, Industrial Engineering, RMG, Banking, HR, Development/NGO, Management Development and so forth. Since its inception, Bdjobs Training has been mentoring the professionals by providing latest industry focused education. BT, in this expedition, engages hundreds of industry experts to ensure quality education to the young entrepreneurs and professionals of the country. BT offers both short (1 or 2 days) and long courses in the form of workshop and certificate training. Also BT offers customized in-house training programs exclusively designed for a group of employees. Customized courses can be provided either at our training facilities or on-site at clients’ location. Our training programs are lively, interactive, and include role-playing and demonstrations of real-life workplace issues and solutions. bdjobstraining.com Page |2 bdjobstraining.com Page |3 TRAINING TRACKS Marketing/ Sales Track • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • 1111 Selling Techniques for Excellence 13 Lessons to turn every Company into Fantastic Brands Advance Selling Techniques Art of Pharmaceutical Sales Brand Management–Walking the Talk Branding for Bangladeshi Business Constructive & Modern Leadership Approach in Selling through Team...
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...ASA NGO: An overview of ASA The Beginnings & Expansion ASA has emerged as one of the largest and most efficient Microfinance Institution (MFI) in the world and has been working relentlessly to assist the poor since its inception in 1978. The major drive behind ASA is to gradually remove poverty from society. During its early years, ASA undertook various development programs like awareness building for social action, training local birth attendants, capacity building of journalists, etc. In the mid-80's it introduced new programs working in the sector of health and nutrition, education, sanitation, etc. It was at this stage that ASA introduced microcredit as a pilot project. From its hands on experience in the field, and by evaluating the impact of development assistance, ASA realized that financial solvency, to a great extent, is what the poor need to bringing positive changes in their lives. In 1992, this paradigm shift led ASA to focus solely on microfinance as its tool in fighting poverty. ASA wanted to evolve its operations to become self-reliant and move away from depending on donor funding and grants - ASA's Microfinance Model gradually transformed itself to become the globally renowned "ASA Cost–effective and Sustainable Microfinance Model." Following this model, ASA became self-sustainable within a short span of time and the organization declared itself a "donor free MFI" in 2001. This model, that has been practiced and perfected in the field by...
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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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...Rabeya feels secured about her future Ms. Rabeya Boshri a beneficiary of the "Jonaki Samiti" of Coast Trust, Cox's Bazar is a successful borrower of microcredit loan operations. She lives with her husband, Mr. Abdus Salam, a daughter and two sons. At present all her children go to school and she is able to bear both the educational and family expenses. Along with that she is now able to make some personal savings additional to general savings of "Jonaki samiti". But things were not the same even few years earlier. Her husband was a day labourer and it was very hard to bear family expenses with his single income. Their life was becoming tougher day by day and Rabeya wanted to do a bit by herself to help her husband from this growing desolation. One day she came to know that a samiti named "Jonaki" operated by Coast Trust, provides loan wih nominal conditions for a number of Income Generating Activities (IGAs). Sooner she spoke to the Chairperson of the "Jonaki Samiti" and became a memeber of that samity. After accomplishing all the regulations together with general savings she got her first loan installment of Taka 7000. She invested the money in vegetable cultivation. Subsequently she was able to sell some amount of vegetable per week after meeting her own family demand which helped her husband with additional income. In the intervening time she was able to save Taka 3000 along with the ragular savings of samiti and gradually she repaid the loan. After the repayment of...
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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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...Green Banking Initiative: Opportunities for Bangladesh Dr. S M Ahsan Habib Professor and Director (Training & Research), BIBM The paper was presented at a seminar on Green Banking at BIBM on October 14, 2010 Green Banking Initiative: Opportunities for Bangladesh I. Introduction Banks that were once seen only as profit motive institutions have been adjusting to a more demanding market and to a more conscious society over last two decades. An increasing number of banks around the world are going green by providing innovative green products that cover financial services to support the activities that are not hazardous to environment and help conserve environment. A green bank is also called an ethical bank, a socially responsible bank, or a sustainable bank. The exact meaning of all these titles may not be same however they cover a lot of common activities and perceptions. At least, all these banks- in various ways and at different times- have engaged themselves in making a better future (Merzio 2007). The approach to green banking (GB) varies from bank to bank, however, broad objectives of green banks are to use their resources with responsibility avoiding waste and giving priority to environment and society. The public concern of the state of environment has been growing significantly in the last few years, mostly due to apparently unusual weather patterns, rising greenhouse gases, declining...
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