...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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...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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...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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...http://www.universalresearchjournals.org/ujmbr Copyright © 2013 Transnational Research Journals Full Length Research Paper Accounting and reporting practices of NGOs- A case study Sanjib Kumar Pakira 1 and Amalendu Bhunia 2 1 Assistant Professor, Department of Commerce , Maharaja Manindra Chandra College 2 Associate Professor, Department of Commerce , Kalyani University Accepted 26 June , 2013 The present study explores the accounting and reporting practices of NGOs in West Bengal, one of the important states of India in the eye of socio-economically deprived background for the period from 2000-01 and ending on 2009-10. NGOs in West Bengal played a major role in bringing a change in the lives of average poor rural society. Though, the vicinity wherever NGOs are not satisfactorily plasticized in terms of adoption of standard accounting practices, transparency and communication of their financial and social performance in the course of appropriate standardized reporting practices. Their failure on this front has bred a feeling of suspicion amongst the general public regarding utilization of funds and grants by NGOs. The results illustrate that meager number of the selected NGOs in West Bengal follow written in terms of automated, manual etc. accounting and reporting practices stringently. Keywords: NGOs, India, West Bengal, Accounting, Reporting, GAAP, Funds and Grants BACKGROUND AND ISSUES A Non-Government Organization is an organization that is not part of...
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...Essay based on the issue of sweatshop labour conditions in the global supply factory system. It is no secret that millions, if not billions of people around the world suffer dangerous and abusive work conditions in the global supply factory system. Since the emergence of the global economy, multi national corporations have been able to reap in large profits while keeping their prices low for consumers, in part, by taking advantage of cheap outsourced labour. The dark side of the global market is the severe exploitation of sweatshop labour conditions such as, child labour, poor health and safety standards, indentured servitude, sexual harassment and abuse, excessive overtime and under compensation. National and International labour standards do exist, the problem is that many countries where global supplier factories are located are either unable or unwilling to enforce labour laws for one reason or another. Thus, because governments in certain countries around the world do not enforce decent labour standards, multi nationals have been able to take advantage of cheap labour without many repercussions. Corporate citizenship or social responsibility has become a very important business practice for many companies. Civil society groups and consumers are now becoming much more adamant on the issue of corporate social responsibility and global fair labour. Multi national corporations, in the past, have been focused only on one objective, profit. With the increased pressure from...
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...Journal of Politics and Law Vol. 2, No. 3 Accountability from the Perspective of Malaysian Governance Ahmad Faiz Yaakob Faculty of Administrative Science and Policy Studies Universiti Teknologi MARA Terengganu, 23000 Dungun, Terengganu Tel: 60-12-222-7659 E-mail: faiziiu@yahoo.com Nadhrah A. Kadir Faculty of Administrative Science and Policy Studies Universiti Teknologi MARA Terengganu, 23000 Dungun, Terengganu Tel: 60-12-250-4302 E-mail: nadhr292@tganu.uitm.edu.my Kamaruzaman Jusoff (Corresponding author) TropAIR, 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 ...
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...MONITORING PLAN (“PMP”) Strategic Objective (“SO”) 1: Management Strengthening of NGOs USAID/Pakistan June March 2004 USAID/Pakistan has determined that this document is appropriate for public distribution on the Internet USAID/Pakistan has determined that this document is NOT appropriate for public distribution on the Internet TABLE OF CONTENTS ACRONYMS AND ABBREVIATIONS SECTION I. INTRODUCTION A. BACKGROUND B. USAID/Pakistan PRE-EXISTING SO 1 RESULTS FRAMEWORK USAID/PAKISTAN IMCP RESULTS FRAMEWORK B. LOGICAL CONSISTENCY OF THE RESULTS FRAMEWORK C. CRITICAL ASSUMPTIONS SECTION III. PERFORMANCE INDICATOR REFERENCE SHEETS Component One: Management Standards Component Two: NPO Certification Component Three: Dissemination and Outreach ACRONYMS AND ABBREVIATIONS iii SECTION I. INTRODUCTION 1 A. BACKGROUND 1 B. USAID/Pakistan PRE-EXISTING SO 1 RESULTS FRAMEWORK 1 USAID/PAKISTAN IMCP RESULTS FRAMEWORK 3 B. LOGICAL CONSISTENCY OF THE RESULTS FRAMEWORK 5 C. CRITICAL ASSUMPTIONS 6 SECTION III. PERFORMANCE INDICATOR REFERENCE SHEETS 7 Component One: Management Standards 7 Objective 1: To strengthen and increase the competitive base of Pakistani non-profit non-governmental organizations (NGOs) that meet the management standards required for a USAID award. 7 Component TWO: NPO CERTIFICATION 127 Objective 2: To orient NGOs in meeting the requirements necessary for certification as a non-profit (NPO) by...
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...Social Audit: A Toolkit A Guide for Performance Improvement and Outcome Measurement CENTRE FOR GOOD GOVERNANCE Knowledge Technology People Social Audit: A Toolkit No part of this book may be reproduced in any form without permission in writing from the publisher, except by a reviewer or a research scholar who may quote brief passages in a review in a magazine or a newspaper or for research purposes as the case may be. Copyright CGG 2005 Printed and published by the Director General & Executive Director, Centre for Good Governance Dr MCR HRD IAP Campus, Road No. 25, Jubilee Hills, Hyderabad 500 033. 2 |||Social Audit: A Toolkit| |||||| |||||| |||||| ||Contents|||| |Preface|||| |List of abbreviations|||| SECTION – I. SOCIAL AUDIT EXPLAINED|7|| 1.|Introduction to Social Audit|9| 2.|Accountability Mechanisms: Cases from India|10|| 3.|Social Audit Vs Other Audits|13|| 4.|History of Social Audit|14|| 5.|Stakeholders and Social Audit|15|| 6.|Principles of Social Audit|17|| 7.|Uses and Functions of Social Audit|18|| 8.|Benefits of Social Auditing for Government Departments|19|| 9.|The Design and Methodology|20|| 10.|Social Audit for Government of Andhra Pradesh|21|| 11.|Good Governance and Social Audit|22|| 12.|Social Auditing and Performance Evaluation|24|| 13.|How does Social Audit work?|25|| 14.|Who can use Social Audit?|26|| 15.|Social Audit and Social Capital|27|| 16.|Designing...
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...Reserve Fund Mesopotamia Luca Pacioli Provident Fund Depreciati Income & Expenditure Credit TM 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...
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...66/4.00, Semester Honors and Dean’s List EXPERIENCE Emerson InSinkErator Appliance Co., Ltd., Racine, United States May 2015- July 2015 Finance Intern * Rotated in general accounting, accounts receivable and accounts payable groups * Analyzed accounts payable data to strengthen liquidity and increase net profit * Performed internal audits on 2 projects in 4 weeks improving efficiency according to the Audit Board * Coordinated with Finance department to create a budget plan for capital and expense by using Microsoft Office Excel Patras Mental Health Association SOPSI, Patras, Greece May 2014 – June 2014 Marketing Intern * Developed a marketing plan which increased Facebook page followers by 400% to expand the awareness of the NGO to the European public * Conducted research to create fundraising events and as a result increased monthly profit by 5% * Proposed potential improvements and implemented changes in the NGO’s daily procedures in order to improve service quality and help the NGO achieve its goals Boiler Gold Rush International, Purdue University April 2014-Aug 2014 Student Leader * Guided a team of 7 new international students with a domestic student by assisting them to participate in the Purdue New Student Orientation events which supported their transition to college life...
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...Introduction to Outsourcing Outsourcing is a practice used by different companies to reduce costs of business operation and enhancing profit by transferring portions of work to outside suppliers rather than completing it internally. This process is generally used in capital intensive manufacturing and technology companies to achieve higher returns on business by reducing cost significantly. Benefits of outsourcing include having skilled personnel, improved quality of products, augmenting production and mitigating risk in business process. The process works best between two organizations belonging to different types of economy. For example: an organization in USA (developed economy) gains substantially by outsourcing its production process to another company in China (developing economy). Outsourcing failure can be experienced in case of certain events. Setting unrealistic goals, inadequate contract details, inflexible contracts, outsourcing products critical to their competitive position, inadequate management review and having limited knowledge and understanding of the supplier’s process. One of the most important reasons behind the failures is the outsourcing company’s inability to comprehend existing scope of work and have a clear vision of the task to be achieved which leaves them unprepared for future contingency problems. Samsung Outsourcing Model Samsung Electronics Company - headquartered in Suwon, South Korea is a South Korean multinational electronics and information...
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...ACCOUNTING PROCEDURES IN NGO Broad topics to be covered Financial Management Accounting & Book Keeping Tally.ERP9 useful for NGO TDS and IT FCRA Auditing Funders Requirement Role of Finance Team in NGO September 8 to 10, 2015 Venue- Samarthan Training Centre, 36, Green Avenue, Behind Sagar Campus, Kolar Road, Chuna Bhatti, Bhopal MP 462016 WORKSHOP ON FINANCIAL MANAGEMENT AND ACCOUNTING PROCEDURES IN NGOS Venue: Samarthan Training Centre, Bhopal 8th-10th September 2015 We are pleased to announce a detailed workshop on Financial Management, Accounting procedures and legal compliances applicable to an NGO. Design & content: The workshop is conducted for providing detailed training of NGOs finance staff on the financial management aspects. It shall cover accounting processes, consolidation of books and training on accounting software-Tally ERP9.Pratical assignment based learning shall be taken up in the area of legal compliances – TDS, Income Tax etc. Topics covered: Session Conducted by Day 1 Introduction and Objective of training Financial Management for NGOs- needs Process and records Planning, Budgeting, Monitoring, Procurement, Auditing Day 2 Accounting & Book Keeping Functions of Tally.ERP9 useful for NGO accounting Group work Day 3 Interface between NGO and auditor TDS- rules, payments, filing of challan & return Interaction with the panel of experts on audit compliances, FCRA...
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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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...CURRICULUM VITAE Personal Details Name: Moses Bockarie Beckhio Contact Address: 41A Ascension Town, Road Freetown, Sierra Leone E-mail: mosesbeckhio@yahoo.com Cell Phone: 076-404126/033404404 Nationality: Sierra Leonean Marital Status: Married with two children Language spoken: English, Krio, Mende and Kissi Personal Profile: • Results orientated. • Leadership and influencing skills. • Attention to detail. • Handling critical issues. • Capable of making important and strategic decisions. • Problem solving. • Communication and interpersonal relations. . Skills & Attributes Supply chain management Budget management Strong negotiating skills Change management Process management Business acumen PROFESSIONAL EXPERIENCE Competencies: • Establishing effective operating policies, lean initiatives and processes. • Comprehensive understanding & experience of purchasing strategies and also inventory management. • Regularly achieving cost saving targets. • Resourceful and well organized. • Extensive knowledge of purchase order systems and related software. • Deep understanding of the principles of vendor management. • Ability to manage multiple priorities. • Excellent analytical, critical thinking and strategic skills. Education/Qualifications ...
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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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