...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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...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...
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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. 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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...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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...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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... Sustainability Report Case Executive summary This short paper discusses relevant stakeholders that the multinational conglomerate company BHP Billiton encloses in their 2013 Sustainability Report. The components that are briefly touched upon is related to the various stakeholder influences, report and not reported costs (referring to the triple bottom line), but the majority of the paper primarily focuses on the environmental and social factors that BHP Billiton discloses in relation to their sustainability program, because the indicators seem to have the biggest impact on the outward-looking legitimacy of the company. We found that NGOs, local communities and unions highly affect how BHP chooses to report their operations, as these organizations/interest groups have a very close relationship to the firm; both negatively and positively. Furthermore, the paper tries to account for costs not included in BHP’s sustainability report, and it appear that some of these are cost-reporting on corruption, specific environmental issues, anticompetitive behaviour, and transportation. The paper do recognize that BHP is in fact a very active proponent of sustainability reporting, but on the other hand do question to what extent the reporting actually reflect the company’s inner workings, as BHP has been publicly criticised for this before. Question A: Influence of all possible stakeholders of BHP Billiton in terms of environmental and social factors. BHP Billiton is a multinational...
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...Journal of International Development J. Int. Dev. 22, 890–905 (2010) Published online 12 November 2009 in Wiley Online Library (wileyonlinelibrary.com) DOI: 10.1002/jid.1639 MANAGEMENT OF MICROFINANCE INSTITUTIONS: DO SUBSIDIES MATTER? MAREK HUDON* ´ libre de Bruxelles, Belgium and Burgundy School of Business, France CERMi, Universite Abstract: It is estimated that donors commit between US$ 800 million and US$ 1 billion to microfinance per year. This paper analyses the management of microfinance institutions (MFIs) and its relationship with donors’ subsidies. The results show that the level of subsidies granted per year is related to the management quality but not the subsidies divided by the gross loan portfolio or the total equity. Well-managed MFIs are larger and regulated organisations but not significantly older. The organisational structure or the experience of the MFI however does not play a role in determining its financial effectiveness, except for cooperatives. Copyright # 2009 John Wiley & Sons, Ltd. Keywords: microfinance; subsidies; management; governance; nonprofit JEL Classification: L31; M54; O16; Q14 1 INTRODUCTION Formal financial institutions have neglected a large part of developing country populations. Considered as high-risk clients, the poor have been denied access to financial services. Microfinance has been praised during the last twenty years as a new development policy tool serving people who have been excluded from the formal banking system. The...
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...Reflection Organisational legitimacy, capacity and capacity development Mobilising against hunger and for life: An analysis of Derick W. Brinkerhoff capacity and change in a Brazilian network John Saxby Pretoria, South Africa Discussion paper No 58A June 2005 European Centre for Development Policy Management Centre européen de gestion des politiques de développement Study of Capacity, Change and Performance Notes on the methodology The lack of capacity in low-income countries is one of the main constraints to achieving the Millennium Development Goals. Even practitioners confess to having only a limited understanding of how capacity actually develops. In 2002, the chair of Govnet, the Network on Governance and Capacity Development of the OECD, asked the European Centre for Development Policy Management (ECDPM) in Maastricht, the Netherlands to undertake a study of how organisations and systems, mainly in developing countries, have succeeded in building their capacity and improving performance. The resulting study focuses on the endogenous process of capacity development - the process of change from the perspective of those undergoing the change. The study examines the factors that encourage it, how it differs from one context to another, and why efforts to develop capacity have been more successful in some contexts than in others. The study consists of about 20 field cases carried out according to a methodological framework with seven components, as follows:...
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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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...Setting the pace and getting started in NGO Corporate governance. An Assessment of corporate governance for Non Governmental Organizations in Zimbabwe By Lasford Flackson lasyflackson@gmail.com .Tel:+263773931949 Table of contents Introduction Chapter one An overview of corporate governance The evolution of governance Development of corporate governance Approaches to corporate governance Chapter two Adaptation and adoption of corporate governance Ngo sector in Zimbabwe Requirements for NGO operation in Zimbabwe Guiding principles for good corporate governance Chapter three Conclusion and Recommendations 2 Introduction The collective problem of business today is increasingly attributed to the failure of corporate governance. This means that far too many boards are failing to execute their duties responsibly, both collectively and individually. Despite increasing awareness, there is a general lack of understanding of the principles of effective corporate governance in most quarters. The study sought to assess corporate governance issues and challenges for non governmental organisations. The study takes a point of departure in explaining how non governmental organisations can adapt and adopt effective corporate governance practices viz- a- viz, how NGOs can adapt and adopt to corporate governance. Several non governmental organisations do not observe good corporate governance and this to the collapse of many. There are no set rules ...
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...THE EFFECT OF BUDGETARY CONTROL ON EFFCTIVENESS OF NON GOVERNMENTAL ORGANISATIONS IN KENYA REBECCAH NYAMBURA KIMANI A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF SCIENCE FINANCE, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI OCTOBER 2014 DECLARATION I declare that this project is my original work and has not been submitted for examination in any other university. Signed………………………………………Date…………………………………… REBECCAH NYAMBURA D63/71147/2014 This project has been submitted for examination with my approval as the university supervisor Signed………………………………………Date…………………………………… MR. MIRIE MWANGI Lecturer, Department of Finance and Accounting School of Business University of Nairobi ACKNOWLEDGEMENT I am deeply indebted to all those who in their own way contributed to successful completion of this study. First and foremost I thank the almighty God, to whom all knowledge, wisdom and power belong for sustaining me in good health, sound judgment and strength to move on and complete my master’s studies. Special appreciation goes to my supervisor for his dedication, guidance, valuable suggestion and ideas throughout the course of this project. Without his enormous support this study would not have been successful. Thanks to my family who always inspired me in every step to accomplish this study. I am eternally grateful for your love, encouragement and support in all my endeavors. DEDICATION I dedicate this project to my...
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...57 Occasional Paper - 57 meeceef³ekeÀ efveyevOe - Yeejle ceW ûeeceerCe GÐeefcelee efJekeÀeme keÀe³e&¬eÀce – ÒeYeeJe DeO³e³eve Entrepr epreneurship Rural Entrepr eneurship Development P rogramme in India – An Impact Assessment [e@. peer. [er. ye@vepeea Dr. G. D. Banerjee DeeefLe&keÀ efJeMues50% 71 Chapter - VIII Impact of REDP The present chapter makes an attempt to assess the impact of REDP training. The impact of REDPs is measured in terms of (i) the number of new enterprises created by REDP trainees, (ii) the creation of new enterprises with and without wage employment, (iii) annual employment generation, (iv) annual incremental income and (iv) attainment of success rate. Thus, the impact of REDP is ascertained on the basis of changes in income and employment as a result of creation of new enterprises. The economics of REDPs is assessed with particular reference to costs and benefits of REDP. Cost includes expenditure incurred per trainee by agencies imparting REDPs, while benefits are taken into account as addition to value of produce and net surplus generated annually. The emphasis of the analysis was on major activities and agencies of the selected districts. Attempts were also made to estimate the Financial Rate of Return (FRR) of the Entrepreneurship Development Programme keeping in view NABARD’s financial contribution on the expenditure side and average net incremental income on income side. Impact of REDP 1. Enterprises set up with and without Wage...
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...Faculty of Forestry, Universiti Putra Malaysia, Serdang 43400, Selangor, Malaysia Tel: 60-3-8946-7176 E-mail: kjusoff@yahoo.com Abstract Generally, accountability is often associated with a concept of answerability, responsibility, blameworthiness, liability etc. Commonly, the concept of accountability from the perspective of governance is the means to control the public administration in democratic countries. The classification of public accountability is normally seen in terms of external and internal mechanisms. Hence, this paper shall discuss both mechanisms with special reference to Malaysia. The discussion also focuses on the limitation of each mechanism which rendered some problems to the concept of accountability in Malaysia. Keywords: Accountability, Governance, Public administration, 1. Introduction Accountability is often associated with such concepts as answerability, responsibility, blameworthiness, liability and other terms associated with the expectation of accounting (Note 1). An individual who is accountable will be on his own commit to do or implement something if he feels that an occurrence or the result of the occurrence is important. It also involves effective reporting or program impact done to see the results and changes experienced from the aspect of knowledge and behaviour. In politics,...
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...Table of Contents List of Acronyms 1 SDPI Management Structure 2 SDPI Board of Governors 3 SDPI Mandate 4 About SDPI 5 1996-97: An Overview 6 Research Programme 8 Collaborative Research Projects 13 Reaching Out 15 Advocacy and Networking 20 Capacity Building 24 Management and Support Services 28 Annexures: I. SDPI Seminar Series 30 II. SDPI Staff 32 III. List of Project/Research Partners 33 IV. SDPI Members 34 V. Linkages and Networks 35 VI. Auditor’s Report 36 |List of Acronyms | | | | | | | |ASDCs Annual Sustainable Development Conferences | |CBO Community Based Organisation | |CBR Central Board of Revenue...
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...What is carbon accounting? Carbon accounting is measuring, monitoring, benchmarking and reporting an organizations green house gas emission in a given accounting period. Carbon Accounting is not is a greener form of financial accounting. How do you perform Carbon Accounting? First the type and amount of emissions for which the business is responsible is identified and calculated for tCO²-e (tonnes of CO² or equivalent) using internationally recognised methods. The result is a detailed account or inventory of a Businesses Emissions for a defined period in time. This inventory is then used in reporting emissions internally and recommending possible solutions for reduction of the business exposure to the cost of emissions. We simplify what can be a complex and involved process. * We Collect and Measure your Carbon Footprint using internationally recognised data collection and emissions data calculation standards from the Greenhouse Gas Protocol (GHG), the latest version of the National Greenhouse Accounts (NGA) Factors released by the Department of Climate Change and other reputable Australian and International sources. The Carbon and Carbon Equivalent Emissions are then reported with relevant business indicators which can be easily understood. * We Monitor and Report Carbon Emissions across an entire enterprise or supply chain and report those emissions for compliance, analysis and business forecasting. * We recommend Mitigation Strategies to Reduce Carbon Emissions...
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