Assignment #2 Cash The information that follows is grouped into two categories: 1) Internal Control and 2) Substantive Audit Procedures. This information is to be used to complete the exercises for this assignment. Relevant Information Internal Control Peach Blossom Cologne Company’s general disbursement checking account (account number 101) is with the Big City National Bank, Main at Michigan Avenue, Chicago, Illinois. It is used for all cash receipts and disbursements transactions
Words: 1339 - Pages: 6
BHARATIYA MAHILA BANK (BMB) India's first women's bank, Bharatiya Mahila Bank was inaugurated in Mumbai by Prime Minister Dr. Manmohan Singh on the birth anniversary of Shrimati Indira Gandhi. One of the key objectives of the bank is to focus on the banking needs of women and promote economic empowerment. It is being looked upon as the beginning of a unique new institution that will provide financial services predominantly to women and women self-help groups to the small businesswomen and from the working
Words: 751 - Pages: 4
As an aftermath of the 2007-12 global financial crisis the International community unanimously opted to protect the global financial system through preventing the failures of SIFIs. The Basel Committee on Banking Supervision introduced new regulations (known as Basel III) that also specifically target SIFIs. The main focus of the regulations is to increase bank capital requirements and to introduce capital surcharges for systemically important banks. However, some economists have warned that the
Words: 2698 - Pages: 11
Act) and even there only casually; he is neither defined nor explained. A customer of a banker need not necessarily be a person. A firm, joint stock Company, a society or any separate legal entity may be a customer. According to section 45-Z of the Banking Regulation Act, 1949, “Customer” includes a government department and a corporation incorporated by or under any law.2 Special types of customer means are those who are distinguished from other types of ordinary customers by some special features
Words: 2877 - Pages: 12
State Bank of India : State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2013, it had assets of US$388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets. SBI provides a range of banking products through its network of branches in India and overseas, including products
Words: 705 - Pages: 3
4.1 General Banking of Sonali Bank Limited: Financial institution/ intermediary that mediates or stands between ultimate borrowers and ultimate lenders is knows as banking financial institution. Banks perform this function in two ways- taking deposits from various areas in different forms and lending that accumulated amount of money to the potential investors in other different forms. General Banking is the starting point of all the banking operating. General Banking department aids in taking deposits
Words: 4313 - Pages: 18
1. Introduction Internship is a compulsory requirement for everybody pursuing a BBA degree at North South University. The Internship program includes organizational attachment and report writing within a period of 12 weeks. I have completed my internship at the Rokeya Sarani branch of Rupali Bank Ltd. from March 2014. An internship helps us to sample real life work settings, and use them as laboratory opportunities to apply our knowledge gained throughout the program. It also helps us to learn
Words: 6582 - Pages: 27
TOOL 4 W An Introduction to Liquidity and Asset-liability Management Monnie M. Biety hen a formerly credit-only microfinance institution (MFI) starts raising voluntary savings and using those deposits to finance the loan portfolio, the liquidity and asset-liability management of the institution becomes more complex. The institution not only has to deal with the fluctuating demand and varying interest rates and terms on loans, but also with erratic deposit demands and withdrawals and changing
Words: 2254 - Pages: 10
support and prayers in every steps. Summary: This internship report grasps the achievement of my particular understanding of banking Environment along with achievement of banking rules. I had begun this internship of mine. From soneri bank private limited Okara Branch. The duration of my internship was six weeks. I was introduced to the basic working of banking along with real life Practice. Soneri bank is the one of the Pakistani private and supportive commercial bank having 234 branches
Words: 6097 - Pages: 25
Risks in Banks, and for the Allocation of Capital to cover those risks, published by the Basel Committee of G10 Central Banks. • What Does Basel Committee Do? - Acts as Think-Tank for banking regulators - Issues guidance on best practice for banks - Standards accepted worldwide - Generally incorporated in national banking regulations Basel I • Basel I was the round of deliberations by central banks from around the world, and in 1988, the Basel Committee (BCBS) in Basel, Switzerland, published a
Words: 3834 - Pages: 16
