...fully describe these words (finance and accounting) as both have very wide meanings and applications in the business world. Most business has an aim to make profit and to remain solvent and the above two concepts play an important role in achieving this objective. This paper aims to answer the above questions and further goes on to say why both should and are considered a vital part of business and their importance in the whole business set up. Literature Review Accounting has been defined as the soul of the business (Collin P, 2004). Accounting is described as the means by which information is communicated in a firm, and is thus known as the language of business. Accounting is described as a vital function in preventing fraud and corporate corruptions in organisations (Glautier, M.W.E. and B. Underdown, Accounting theory and practice). Accounting is important as it provides information to external parties (stakeholders) by providing a true picture on the business financial position. Finance is described as an administrative function aimed at raising funds for the business (B.B Howard. Introduction to Business Finance). Finance is aimed to maximise the value of the firm and attain the main objectives of the firm; I. Shareholders wealth maximisation II. Profit maximisation This is achieved by determining the optimum capital structure and the efficient utilisation of resources by analysing risk and return (B. B Howard. Introduction to Business Finance). Findings and analysis ...
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...INTRODUCTION The 1980s is known as the deregulation period for the banking industry and subsequently the increased competition of the 1980s and continuing in the 1990s. The themes of the 1980s and 1990s include total quality management, customer satisfaction, cost, quality and time, technology, market globalization, availability of capital and markets, and finally activity based costing. The purpose of this study is to summarize and analyze the implementation of ABC in the banking industry. Total quality management (TQM) is a process of continuous improvement that focuses on increasing customer satisfaction. TQM is founded on the principle that every customer (internal or external) has a set of spoken or latent needs or requirements. The ultimate objective of TQM is to improve the horizontal linkage of operations to produce a product or service. ABC is a fundamental factor in implementing TQM. The implementation of TQM is greatly facilitated by analyzing organizational activities, linking activities to business processes, evaluating cost of quality (prevention, appraisal, and failure), and determining customer perception of value (valueadded activities). A value-added activity is required to meet customer requirements, modifies or enhances raw materials, is a critical step in getting the product or service to the customer, and adds value that customer might be willing to pay for. If the activity is determined to be a non-valueadded activity, one of four things should happen:...
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...About Microsoft Word 2010 | Use this guide to learn about some of the new and improved features which are available in Microsoft® Word 2010. To learn more about other new features in Microsoft Word 2010, go to http://office.microsoft.com/en-us/. Topics in this guide include:Understand Co-AuthoringUse the Navigation PaneUse Polished FindWork with Translation ToolsUnderstand Paste Live PreviewUse Improved Text EffectsIncorporate ScreenshotsWork with Additional Microsoft SmartArt® Graphics | Customization note: This document contains guidance and/or step-by-step installation instructions that can be reused, customized, or deleted entirely if they do not apply to your organization’s environment or installation scenarios. The text marked in red indicates either customization guidance or organization-specific variables. All of the red text in this document should either be deleted or replaced prior to distribution Understand Co-Authoring In Word 2010, multiple authors can now edit a document at the same time, while seeing who is working on other sections. If changes are made by others, new additions and authors are highlighted so you know what change was made where and by whom. Notes * Co-authoring features require Microsoft SharePoint® Server 2010 or Microsoft Windows Live™ Skydrive®. * Content synchronization is controlled by the user. Your changes are available to others when you save your changes. Others get your changes when they save their file. You must...
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...Table of Contents Capital Account Transactions Pages 03 to 08 FEMA Regulations – Capital Account Types of Capital A/c Transactions Foreign Institutional Investors Pages 09 to 11 Foreign Direct Investment Pages 12 to 15 American Depository Receipts Pages 16 to 17 Global Depository Receipts Pages 18 to 19 External Commercial Borrowings Pages 20 to 21 Foreign Currency Convertible Bonds Pages 22 to 25 Capital Account Convertibility Pages 26 to 28 Tarapore Committee and Current Status Pages 29 to 35 What is Capital Account Transaction? Capital account transaction is defined as a transaction which:- ➢ Alters the assets or liabilities, including contingent liabilities, outside India of persons resident in India. In other words, it includes those transactions which are undertaken by a resident of India such that his/her assets or liabilities outside India are altered (either increased or decreased). For example:- (i) a resident of India acquires an immovable property outside India or acquires shares of a foreign company. This way his/her overseas assets are increased; or (ii) a resident of India borrows from a non-resident through External commercial Borrowings (ECBs). This way he/she has created a liability outside India. ➢ Alters the assets or liabilities in India of person resident...
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...Managing Personal Finances with Demand Deposit Accounts Summary: Demand deposit accounts offer individuals many different options and benefits when managing their personal finances. Deposit accounts can be used to manage everyday expenses, keep track of personal cash flow and save for the future while earning a return. There are many different types of deposit accounts, each offering a means to achieve specific goals. In the following pages, I will break down some different types of accounts, discuss their purpose and show how each one can make achieving personal financial goals a simpler, more attainable task. Demand Deposit Accounts, or DDAs, are accounts offered by financial institutions such as banks and credit unions that allow account holders to deposit and withdraw funds and perform many other types of transactions. These accounts are called demand accounts because they give the client access to funds upon demand, either limited or unlimited depending on the type of account. The main purpose of these accounts are to offer clients, personal or business, a secure means of storing, transferring, spending, or saving money. The first and most common type of DDA is a checking account. A checking account offers the convenience of being able to deposit and withdraw funds and issue checks, or drafts, to transfer money to any individual or business. This is a much safer way to keep money that is used for everyday expenses because it is insured by the federal government...
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...Account Based COPA - Simplification with Simple Finance A typical pain point for most projects has been the underlying differences in Costing Based COPA and the P&L in Financial Accounting. Most of the customers used costing based COPA with one of the reasons being getting a break up of Cost of Goods Sold. Typically in Costing based COPA, the values for key figures like Revenue, cost of goods sold, variances, overheads etc get stored in value field in CE1* tables. This essentially used to map the accounts such as revenue and sales deductions to value fields in costing based COPA. Additionally there were restrictions on the no of value fields in costing based copa with around 200 fields (SAP OSS Note 1029391). The account based COPA on the other hand uses cost elements to store the same values for various attributes like revenue, cost of goods sold, and so on. However, the posting logic in traditional account based COPA was such that cost of goods sold and variances could only be mapped to a single GL Account/Cost element. This was one of the basic reasons why most SAP customers preferred using Costing based COPA over Account based COPA. Another major challenge with using Costing based COPA was the frequent reconciliation issues between COPA and GL. For eg, typically, the COGS was booked in the GL at the time of Outbound delivery and the same value flowed into Costing Based COPA at the time of billing. So if the PGI and Billing were far apart in two different posting...
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... Difference between Accounting & Finance Accounting is an art of recording, classifying and summarizing the transaction in a significant manner, whereas finance is the management of money and other valuables, which can easily be converted into cash. Functions of Finance Department of an Organization * Preparation of Budget Plans It is duty of finance department of company to make the budget before actual providing money to any department. It helps to fulfill each department with minimum cost. * Financial Management In this function finance department gets money from capital market at very low risk and cost. Finance department analyzes all the resources of funds and create a good financial structure of company. In this structure, finance department analyze whether it will decrease the overall cost of capital on Average basis or not. * Management of Investments of Company After making financial structure, finance department invests debenture holders and shareholders money in best projects for getting highest return on investment. For this finance department takes investment decision. These investment decisions can be taken with the help of capital budgeting and investment analysis techniques. * Management of Financial Risks Financial department takes many measures for managing the financial risks of company, for reducing loss of funds due to happening liquidity, solvency or financial disaster. Finance department makes a good plan and also...
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...Acknowledgement First of all, I am expressing my sincere great fullness to almighty to prepare this term paper, no noble achievement can be achieve by an individual term paper depends on the contribution of number of people specially their thoughtful guidance and suggestions to complete this term paper. I am indented for their kind recommendation, submission, direction, cooperative and their collaboration. I want to give my special thanks to the Academic Supervisor Professor Md. Didarul Islam, Department of Accounting for his support and enormous help, especially his guidelines throughout the period of preparing this term paper. Declaration I do hereby Solemnly declare that the work submitted in the term paper titled “Sources of Short-Term Financing in Bangladesh” has been carried out by me and has not been previously submitted to any other university, college, organization for an academic purpose or certificate or diploma degree. This work that I have submitted does not break any existing copyright and no portion of this report is copied from any work done earlier for a degree or otherwise. I further undertake to indemnify the department against any loss or damage arising from breach of the forgoing obligations. Md. Golam Kibria BBA(hon’s) Final Year Reg. No. 09101626055 Major: Accounting Supervisor’s Certificate This is to certify that the term paper on “Sources of Short-Term Financing in Bangladesh” submitted for the award of the Degree of Bachelor of Business Administration...
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...I and the related credit card accounts. Some of the terms used herein are used as defined in the Glossary of Terms at the end of this Report. Loss and Delinquency Experience The following table sets forth the loss experience for cardholder payments on the credit card accounts for each of the period s shown on a cash basis. The Net Loss percentage calculated for each period below is obtained by dividing Net Losses by the Average Principal Receivables Outstanding multiplied by a fraction, th e numerator of which is the total number of days in the applicable calendar year and the denominator of which is the total number of days in the trust monthly reporting periods for the applica ble period (365/273 for the nine months ended September 27, 2011, 365/365 for the year ended December 28, 2010, 365/367 for the year ended December 28, 2009 and 366/366 for the year ended December 26, 2008). If accrued finance charge receivables that have been written off were included in losses, Net Losses would be higher as an ab solute number and as a percentage of the average of principal and finance charge receivables outstanding during the periods indicated. Average Principal Receivables Outstanding is the average of principal receivables outstanding during the periods indicated. There can be no assurance that the loss experience for the receivables in the future will be similar to the historical experience set forth below. Loss Experience for the Accounts (Dollars in Thousands) Nine...
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...AREAS OF EXPERTISE Office management Profit & Loss Cash management Balansheet &cash flow statements Data protection Reconciliation PROFESSIONAL MBA(FINANCE-MARKETING) PERSONAL SKILLS Time management Versatility Data entry Neumerical skills PERSONAL DETAILS Sajesh Sankaran Dayyar building.Flat no:102vUAE Mob: 0559613374 Email:rijushankar@gmail.com DOB: 09/12/1990 Driving license: yes Nationality: Indian Sajesh Sankaran Accounts Executive & Accounts Assistant PERSONAL SUMMARY A highly efficient and competent finance officer with drive determinationand Exeperience of working in a busy finance department providing support tomanagment accounts.Possessing excellent numerical & data entry skills along with a comprehensive understanding of commercial, administrative and accounting procedures. Having a proven ability to ensure that day to day work is carried out in line the agreed policies and procedures and qualityatandards. Keen to find a challenging finance officer position with a successful and ambitious Company where Iwill be able to continue to increase my work experience and develop my ability. WORK EXPERIENCE Charted Accounts Institution(CA,Auding firm)/Algebra bookeeping, Dubai,India Accounts executive /ACCOUNTS ASSISTANT March 2013 - Present Responsible for developing weekly monthly financial reports showing analysis Of the financial accounts.Identifying and...
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...and budget management, decisionmaking, and reporting processes. The diagnostic questionnaires that were used in this assessment collected information on the current arrangements and the apparent gaps in Maldives for accounting laws and regulations; education and training of public sector accountants; application of a code of conduct; and numbers and characteristics of public sector accountants. (1) Accounting Laws and Regulations 6. The Public Finance Act and the Financial Regulations are prescriptive about the maintenance and compilation of accounts but make no mention of International Accounting Standards. The Public Finance Act (see Annex C) should require conformance with International Public Sector Accounting Standards (IPSAS). However, under the Public Finance Act, there are proposed rules that would promulgate the allowance of IPSAS to be followed. The future accounts should be based on Cash Basis IPSAS with notes providing other information on assets, liabilities, and contingent liabilities as required by the Public Finance Act. Progression to accrual-based statements would occur as adequate computerized accounting systems are rolled out. 7. A modern financial reporting framework is required for better accountability. The accounting function has been located in the Treasury. However, this has not provided a good separation of duties among departments. As new computerized public accounting systems are implemented, more suitable accounting units must be established, preferably...
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...Loan (Res. & Comm.) Loan Agst. Accepted Bill Industrial Term Loan Agricultural Term Loan Lease Finance Other Term Loan FMO Local currency Loan for SME FMO Foreign currency Loan Cash Credit (Hypothecation) Small Shop Financing Scheme Overdraft Dutch-Bangla Bank offers a wide range of corporate banking services. They include: Project finance The Bank encourages accepting purpose/project specific development funds on competitive terms towards economic upliftment and well being of the people/country by way of setting up a new stand alone, capital intensive project or for BMRE of an existing project. Working Capital finance The bank considers lending short –term working capital finance to entities engaged in manufacturing, assembling, processing, re-packaging of goods and commodities for domestic consumption or export market. However, unsecured loans (not collateralized) for working capital without justification or purpose is not considered. Syndications & Structured finance The Bank, on case to case basis, arranges loan syndications or approves disclosed participations in syndications provided such transactions meet the parameters separately established.oThe bank will at all times maintain at the minimum a pari-passu status to other banks in all lending relationships. Second mortgages or lower are not be accepted as primary collateral. Trade finance DBBL prefers Trade Financing in the form of short-term (up to 12 months), self liquidating or cash flow...
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...Summary of account activity Account no. Previous balance Payments Other credits Purchases Other debits Fees charged Interest charged 2117-2000-0270-7455 $468.90 -20.00 -245.79 315.46 0.00 0.00 10.07 Payment information New balance Minimum payment due Payment due date PAGE 1 OF 2 $528.64 $16.07 12/12/2012 Late payment warning: If we do not receive your minimum payment by 12/12/2012 you may have to pay up to a $35.00 late fee and your APR may be increased up to the Penalty APR of 29.99%. New balance $528.64 0.00 $500.00 $0.00 11/16/2012 30 Minimum payment warning: Even if you make no more charges Past due amount Credit limit Available credit Statement closing date Days in billing cycle using this card, if you make only the minimum payment each month we estimate you will never pay off the balance shown on this statement because your payment will be less than the interest charged each month. If you make more than the minimum payment each period, you will pay less in interest and pay off your balance sooner. For example if you instead paid $21 per month, you would pay off the balance shown on this statement in around 3 years. For information regarding credit counseling services, call 1-800-284-1706. Your Rewards Program $1 = 1 point Earn 1 point for every dollar you spend on your Elder-Beerman Your Rewards card when you shop in store and online. Your Rewards Totals *Previous points earned: 457 Plus points earned: 67 Plus bonus points earned:...
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...Functional Area Plan: Accounting and Finance Member of Team D: Havacup Part 1: Accounting and Finance Manager Composition The Accounting and Finance Functional Area’s goal is to provide Havacup’s Executive Leadership and supporting Functional Area’s with timely and accurate financial information, strategic advice, and advocating the high level of integrity and ethics that is at the core of Havacup’s values. Having accurate and up-to-date financial information is critical to making smart decisions. Accounting and Finance will focus on Havacup’s revenues, expenses and budgets. A comprehensive plan will be created, supporting Havacup’s business model and ensuring finances are available for future expansion. Accurate records for accounts payable, receivable, collections, inventory, fixed assess and payroll will be maintained. Timely reports distributed will provide Executive Leadership and supporting Functional Areas financial data used to validate the company’s financial position and to identify areas where changes must occur in order to run the business more efficiently and cost effectively. Accounting and Finance Partnering The Accounting and Finance Functional Area will partner with Operations and Production to create a reasonable production budget aligned with projected sales, production and staffing numbers. More inventory will be purchased and on-hand; accounts payable will increase and will need to be paid timely. Inventory management will be critical...
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...Finance Companies: An introduction Finance companies are referred to as corporations or partnerships which are formed to offer credit facilities for household consumers and/or industries through commercial papers, mortgages, leasing of properties, etc. The primary function of finance companies is to make loans to individuals and corporations. . Financial companies do not offer deposit services; rather they source their funds through borrowing from banks and other money market sources by issuing commercial papers and bonds. Due to its dependence on borrowed money for sourcing, finance companies hold more equity than banks for the purpose of signaling solvency to potential creditors. Finance companies offer loans of small denomination to consumers and since they have quite high credit rating, they are able to borrow at a low interest rate from other lending institutions and therefore are able to offer their loans at reasonable rates. They are different from banks in that they provide loans and credit facilities to consumers and firms who otherwise have a non-sufficient credit record to secure loans from banks; however the interest rate they charge is higher than banks. The emergence of finance companies was mainly due to bank’s refusal to lend out small loans to firms and consumers. Finance companies has since then evolved to provide both sales-finance and consumer loan services. Sales-finance companies mainly operate by purchasing unpaid customer accounts at a discount...
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