...How to Manage Cash Account and Transactions in NGOs – NGO Financial Management Policy Cash payments need to be documented firmly by NGOs in their financial management policy. Since small sums of cash payments are common on a day-to-day basis, a certain procedure needs to be developed and mentioned in the policy manual. An example is given below: “3. Cash Handling 3.1 Cash Account and Transactions Cash transactions are to be resorted only for petty expenses and when /where banking facilities are not available. As per Income Tax Rules, no claim exceeding $______ should be settled through cash payments. These should invariably be by account payee checks only. As a matter of procedure and control, the attempt should be to minimize the number of cash transactions. 3.2 Daily Cash Balance The denomination of the closing balance of the cash should be entered below this and signed by the Accountant. This register has to be maintained from the beginning of the financial year. A fresh register has to be started at the beginning of every financial year. Maximum and minimum cash limits have been fixed as: maximum $______ and minimum $______. 3.3 Withdrawal of Cash from Bank a) The Cash Withdrawal Form/Money Indent to be filled up and signed by the staff handling cash. b) The cash balance available and the estimated expenses would need to be computed. c) The authorized persons must verify the requirement before signing the check for withdrawal of cash. d) The signature of the person presenting...
Words: 6559 - Pages: 27
...DOMESTIC TRAVEL AUTHORITY | | |Date Prepared: | | | |03/11/2015 | |Name (Last, First, MI): |SMC ID No.: |Tel. / Fax No.: | |SALVADOR, AIMIE |9908469 |(033) 338-4402 | |Position: |Department/Unit/Division: |Coordinator/Contact No.: | |FINANCE ANALYST |SMFI-AIC Finance | | | | |Purpose of the Trip: | |POULTRY AND MEATS AR REVIEW | | ...
Words: 1556 - Pages: 7
...review the global best practices in the banking sector and examines in the possibility of introducing these in the banking industry of Bangladesh. Four 'Focus Groups' were formed with participation from Nationalized Commercial Banks, Private Commercial Banks & Foreign Banks with representatives from the Bangladesh Bank as team coordinators to look into the practices of the best performing banks both at home and abroad. These focus groups identified and selected five core risk areas and produce a document that would be a basic risk management model for each of the five 'core' risk areas of banking. The five core risk areas are as follows- a) Credit Risks; b) Asset and Liability/Balance Sheet Risks; c) Foreign Exchange Risks; d) Internal Control and Compliance Risks; and e) Money Laundering Risks. Bangladesh Bank in one of it’s circular (BRPD Circular no.17) advised the commercial banks of Bangladesh to put in place an effective risk management system by December, 2003 based on the guidelines sent to them. I am working in the Credit Department of Dhaka Bank Limited, Islampur Branch. In this report, I will try to make a comparative analysis between Bangladesh Bank’s suggested best practices guideline for managing credit risk and...
Words: 19151 - Pages: 77
...CITY UNION BANK LIMITED, CENTRAL OFFICE, KUMBAKONAM This booklet contains the following statements/certificates/reports to be issued by Statutory Branch Auditors. Sl. No.|Particulars of documents|Remarks|Page No.| 01.|Letter of Acceptance|To be submitted to Central Office, Accounts Department before commencement of audit...
Words: 9109 - Pages: 37
... OBJECTIVES, AMBITIONS AND ASPIRATIONS ❖ To pass all the exams in November 2011 and May 2012 leading to qualification as a Chartered Management Accountant by December 2012 with the Chartered Institute of Management Accountants (CIMA). ❖ To be a Leader and drive positive change, enhance efficiency, effectiveness and productive use of organisational resources in the quest to increase profitability and return on investment to owners of organisations. ❖ To uphold ethics in execution of my professional duties and in my social affairs. EDUCATIONAL HISTORY Qualifications in progress, to complete in November & December 2011 examinations ❖ Advanced Diploma In Management Accounting - CIMA (to complete May 2012) ❖ Diploma in Management Accounting – CIMA (also to complete in May 2012) Completed Qualifications ❖ Certified Accounting Technician (NQF 5) - ACCA ❖ Certificate in Business Accounting (NQF 5) - CIMA EMPLOYMENT HISTORY Urban Genesis Management January 2012 to Current Revenue and Debtors Controller- CID Management Finance ❖ Supervise and Manage Revenue collection department(staff complement of 3 people) ❖ Run, analyse and interpret monthly debtors and revenue collection reports( Debtors and Management Accounts) ❖ Assist CID Managers with presentation of Management Accounts at the Quarterly Board Meetings ❖ Supervise the CID procument and payment processes, makes follow ups and verify that expenses are legitimate...
Words: 1138 - Pages: 5
...SW-200-0607 Manufacturers and Traders Trust Company AUTOMATED COMMERCIAL LOAN SWEEP AGREEMENT Client Legal Name: Address: Contact Name: Phone: Tax ID #: Title: Bank: Manufacturers and Traders Trust Company, Treasury Management Services, Lafayette Court, 5th Floor, 465 Main Street, Buffalo, New York 14203-1495 Phone: 800-724-2240 Designated Line of Credit # Designated Checking Account # This Automated Commercial Loan Sweep Agreement (the “Agreement”) is made as of the date set forth below by and between the Client and MANUFACTURERS AND TRADERS TRUST COMPANY (the “Bank”) and shall become effective as of the Effective Date described below. The Client has requested that the Bank debit eligible available balances from the Client’s checking account designated above (the “Account”) to pay down the outstanding principal balance on the note (as hereinafter defined) and credit the Account with advances under the Note in the amounts, at the time, and under the terms and conditions herein provided (the “Services”), and, in consideration of such Services, agrees to be bound by the following terms and conditions: 1. Treasury Management Services Agreement. This Agreement is incorporated as an Addendum to the Client’s Treasury Management Services Agreement or Cash Management Services Agreement with the Bank, as applicable, the terms and provisions of which shall apply to the Services provided to the Client hereunder, except to the extent such terms and provisions may be inconsistent with...
Words: 1989 - Pages: 8
...MANAGEMENT OF FINANCIAL SERVICES LESSON 13: FACTORING – THEORETICAL FRAMEWORK Lesson Objectives • • • • • • • Finance Maintenance of accounts Collection of debts Protection against credit risks”. To understand the Concept of Factoring. Methodology of Factoring and Forfeiting. Types of factoring. Introduction Receivables constitute a significant portion of current assets of a firm. But, for investment in receivables, a firm has to incur certain costs such as costs of financing receivables and costs of collection from receivables. Further, there is a risk of bad debts also. It is, therefore, very essential to have a proper control and management of receivables. In fact, maintaining of receivables poses two types of problems; (i) the problem of raising funds to finance the receivables, and (it) the problems relating to collection, delays and defaults of the receivables. A small firm’ may handle the problem of receivables management of its own, but it may not be possible for a large firm to do so efficiently as it may be exposed to the risk of more and more bad debts. In such a case, a firm may avail the services of specialised institutions engaged in receivables management, called factoring firms. At the instance of RBI a Committee headed by Shri C. S. Kalyan Sundaram went into the aspects of factoring services in India in 1988, which formed the basis for introduction of factoring services in India. SBI established, in 1991, a subsidiary-SBI Factors Limited with an...
Words: 5166 - Pages: 21
...INTERACTIVE SESSION OF FINANCE & ACCOUNTS DEPARTMENT, CORPORATE AFFAIRS COMMISSION Venue: KEFFI HEALTH CLUB, KEFFI. Date : 23rd January 2010 Climate setting for the program was tuned by the Deputy Director Final Accounts/Mrs.B.F.Ikhanoba. Samuel Archibong offered the opening prayers. The DD/FA introduced the Senior Executives present. The Acting DFA/Mr. M.U.Wambai delivered the opening remarks with a word that the aim of the forum is to develop human capacity. Declaring the interactive session open the DFA emphasized on participation by all present. • The first paper was presented by the Senior Manager, Final Accounts/ K.M.Jemaku. Titled: FIXED ASSET MANAGEMENT – OPERATION & CHALLENGES: It defined and classified fixed assets, their management, depreciation and disposal. The management of Fixed Assets was noted to be a huge challenge to Finance & Accounts Department because of the many lapses imminent. The Sun System Fixed Assets module captured most of the detail data identifying an asset, and provides information automatically. Each asset is then assigned a code to further give the required peculiarity in the database. The presenter identified the challenges as follows; - Time lag between coding and labeling of assets. - Difficulty in tracing assets to assigned locations. - Failure to code some assets making disposal difficult. - Inability to reconcile physical assets with the register. Other issues relating to management of Fixed Assets were mentioned...
Words: 2489 - Pages: 10
...Commercial Banks, Private Commercial Banks & Foreign Banks with representatives from the Bangladesh Bank as team coordinators to look into the practices of the best performing banks both at home and abroad. These focus groups identified and selected five core risk areas and produced a document that would be a basic risk management model for each of the five 'core' risk areas of banking. The five core risk areas are as follows- a) Credit Risks; b) Asset & Liability / Balance Sheet Risks; c) Foreign Exchange Risks; d) Internal Control & Compliance Risks; and e) Money Laundering Risks. Bangladesh Bank in one of it’s circular (BRPD Circular no.17) advised the commercial banks of Bangladesh to put in place an effective credit approval and monitoring system by December, 2003 based on the guidelines sent to them. In my study, I would try to put forward my findings about the “Credit Management Policy of Bangladesh Bank, and its implementation”. To illustrate my point, I am giving the example of Bank Asia Limited. 2. Objectives of the study. Broad objective: ❖ The broad objective is to know the Credit Management Policy of Bangladesh Bank. ❖ To analyze its implementation at Bank Asia Limited. Specific objective: In order to reach the broad objective, some specific objectives are identified.In this report, I have attempted to give an overview of foreign exchange operation of BAL. Following are the main objective: ...
Words: 20562 - Pages: 83
...Types of Bank Deposit Accounts a. Demand deposit/current deposit/Checking Account Funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution. Demand deposits can be "demanded" by an account holder at any time. Many checking and savings accounts today are demand deposits and are accessible by the account holder through a variety of banking options, including teller, ATM and online banking. there is no limit to the number of transactions a depositor can conduct with these accounts (although a bank may charge a fee for each transaction) A demand deposit is money that you deposit into a bank account from which you can withdraw 'on demand' - at any time without any advance notice to the bank. Common examples of accounts that are often demand deposit accounts include many checking and savings accounts. Keep in mind, however, that not all checking accounts and savings accounts are demand deposit accounts. b. Saving Deposits (local/foreign currency) An account at a bank in which the customer deposits money for any non-immediate use. For example, one may utilize a savings account to save funds for an expensive purchase, such as a house or a car. Because most customers keep money in a savings account for a longer period than a checking account, a savings account pays a slightly higher interest rate. However, the interest rate is not as high as a bond or another low-risk investment. Generally speaking...
Words: 1095 - Pages: 5
...Report on Muslim Commercial Bank Dedicated To My Parents PREFACE It is the requirement of the MBA course Al-Khair University, Multan that all students of MBA have to spent two months in any organization to get practical exposure and to get familiarized with the ways to live in the organizational environment which is dramatically different from the educational environment. That two months period called “Internship Period “, if spent properly and sincerely, enables the students to be more confident, more knowledgeable, more responsible and, above all, more committed to its work in the practical field. I have also been assigned to do internship of six weeks period in MCB Jhang City Branch. It has enabled me to understand the practical scenario and sharpen our decision making power and utilizing the resources in an effective manner, so that our resources generate maximum profit. In preparing this report, I have put all of my best efforts and tried my level best to give maximum knowledge. Despite of my all the coherent efforts, I do believe that there will always be a room for improvement in the efforts of learner like me. Farhan Raza Table of Contents DESCRIPTION PAGE # Executive Summary 05 History of MCB 08 Head Office ...
Words: 14460 - Pages: 58
...Internship Report ON GENERAL BANKING AND MANAGEMENT INFORMATION SYSTEM (A STUDY ON UNITED COMMERCIAL BANK LIMITED) Course Code: BAN- 400 Course Title: Internship & Viva Prepared To: Md. Abdul Hamid Lecturer Businesss administration department Shahjalal University of Science & Technology, Sylhet. Prepared by: Md. Hedaitul Kabir BBA (Marketing) 4th Batch Reg No-2001731012 Date of submission: 06/11/2007 Shahjalal University of Science & Technology, Sylhet-3114 LETTER OF AUTHORIZATION This is certify that, this internship report on General banking and management information system a study on United Commercial Bank Ltd .Has been prepared by Md Hedaitul Kabir, reg no- 2001731012, Business administration department , 4th batch, sincerely and under my close supervision. I wish his all progress and success. Md. Abdul Hamid Lecturer Business administration department Shahjalal University of Science and Technology ...
Words: 16376 - Pages: 66
...have interested to prepare my internship report on the credit department and also my supervisor Mr. Md. ShahanShah Molla allow me to prepare the report on my interested topic. 1.2. Objective of the Report: The study has been undertaken with the following objectives: To analysis the pros and cons of the conventional ideas about credit operation of a Bank. To have better orientation on credit management activities specially credit policy and practices, credit appraisal, credit-processing steps, credit management, financing in various sector and recovery, loan classification method of SEBL. To identify and suggest scopes of improvement in credit management of SEBL. To get an overall idea about the performance of Southeast Bank Ltd. To fulfill the requirement of the internship program under BBA program 1.3. Scope of the Report: The study focus on the following areas of Southeast Bank Limited: Credit recovery system of the SEBL Credit appraisal procedure of the Southeast Bank Ltd. Credit evaluation principles of the SEBL Credit management of the SEBL Procedure for...
Words: 9443 - Pages: 38
...develop their career as executives in the field of different business areas as well as teaching and research positions in different institutions. BGC Trust University Bangladesh offered an opportunity to do intern. For the competition of this internship program, the author of the study was placed in a bank namely, “National Credit & Commerce Bank Limited”. My paper topic is monitoring and evaluation of credit of NCC Bank. My internship was at NCC Bank Ltd., Anderkilla Branch, Chittagong. During my internship, I had to prepare a report under the supervision of Mrs . 1.2 Objective of the Report: Project Objective: Presenting and Emphasizing on credit operation, credit risk management and credit performance including the credit payment system. Secondary objective: Objectives assist the researcher to advance objectively. The followings objectives may be with this identified study as presented below: Knowing the credit policy and credit operation model. Knowing lending products of the NCC Bank. Knowing the interest rates and fees of loans. Knowing the process of selecting borrowers. Prepared By: Zillur Rahman, ID-0913175, BBA (Finance), FBA, BGCTUB Monitoring & Evaluation of Credit Where Credit & Commerce Integrates Knowing about the loan recovery System. Knowing about the loan classification....
Words: 13972 - Pages: 56
...Credit Risk Management Of AB Bank Limited 25. May, 2013 view with charts and images Executive Summary The ongoing development of contemporary management methods and the increased use of innovative financial products such as securitization and credit derivatives have brought about substantial changes in the business environment faced by credit institutions today. Especially in the field of lending, these changes and innovations are now forcing banks to adapt their in-house software systems and the relevant business processes to meet these new requirements. Credit Risk Management is intended to assist practitioners in redesigning a bank’s systems and processes in the course of implementing the Basel II framework. Throughout last five years securitization, rating and validation, credit approval processes and management, as well as credit risk mitigation techniques. Credit management is based on developments in the banking sectors is meant to provide readers with best practices AB bank would be well advised to implement regardless of the emergence of new regulatory capital requirements. AB Bank is to develop mutual understanding between regulatory authorities and banks with regard to the upcoming changes in banking. Credit risk Management provides interesting reading as well as a basis for efficient discussions of the current changes in AB Bank. The bank has been successful in holding its position as a progressive and dynamic financial institution in the country for a long...
Words: 26105 - Pages: 105
