Internship Report on Jamuna Bank Limited EXECUTIVE SUMMARY Jamuna Bank Limited is bank of new generation. It is committed to provide high quality financial services/products to contribute to the growth of GDP of the country through stimulating trade and commerce‚ accelerating the pace of industrialization‚boosting up export‚creating employment opportunity for the educated youth‚ poverty alleviation‚ raising standard of living of limited income group and overall sustainable socio-economic development
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Accounts Receivable: an amount due from another party two of the most common are: Accounts Receivable &Notes Receivable others are: interest receivable‚ rent receivable‚ tax refund receivable‚ and receivables from employees Accounts Receivable- are amounts due from customers for credit sales when a company does extend credit directly to customers it: 1. Maintains a separate account receivable for each customer 2. accounts for bad debts from credit sales Recognizing Accounts Receivable:
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balance of the bank statement. Bank reconciliation allows companies or individuals to compare their account records to the bank’s records of their account balance in order to uncover any possible discrepancies. Since there are timing differences between when data is entered in the banks systems and when data is entered in the individual’s system‚ there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine if the discrepancy is due to error rather than
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general ledger‚ and it holds accounts with similar attributes. The purpose is that is can contain things such as accounts receivable and accounts payable and it can show the sum total. The advantages of using subsidiary ledgers is that the sum of all the accounts is kept in the General Ledger and all of the details of the accounts are kept in the subsidiary ledger which is separate so you can keep them in different columns so to not get confused. A control account is an account that contains the total
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Chapter One : Background literature 1.1 – Account Receivable(AR) (AR and Management Policy: Theory and Evidence – Shehzad L. Mian & Clifford W. Smith‚ Jr) The basis of my subject “Bad debt expense estimation model” stems from account receivable. Account receivable is the term used by companies to describe money owed to them by clients or customers for goods and services provided. Bad debt expense is that portion of account receivables that will not be collected. Therefore‚ without any receivables
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HW 8 – 1 ACCOUNTS RECEIVABLE JOURNAL ENTRIES Prepare journal entries to record the following transactions: (1) On December 15‚ 2008‚ the company recorded $150‚000 sales on credit. (2) On December 31‚ 2008‚ the company estimated bad debt expenses of $15‚000. (3) On January 12‚ 2009‚ collect $100‚000 worth of accounts receivable. (4) After many collection attempts‚ the Company determined on June 15‚ 2009 that it would not collect $10‚000 in accounts receivables from Pendant Publishing
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the following activities‚ EXCEPT: A. recording of economic activities B. communicating to stakeholders C. identifying relevant economic activities D. guaranteeing profitability of business operation 2. A senior accountant working at the Account Department of Universiti Utara Malaysia is also known as: A. a public accountant B. a partner C. a private accountant D. an independent accountant 3. ________ is established as a trustee body and vested with the responsibility for the oversight
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XXX c. Purchased equipment on account. Equipment XXX Accounts Payable XXX d. Purchased equipment for cash. Equipment XXX Cash XXX e. Purchased supplies on account. Supplies XXX Accounts Payable XXX f. Purchased supplies for cash. Supplies XXX Cash XXX g. Rendered services on account. Accounts receivable XXX Service Income XXX h. Rendered services for cash. Cash XXX Service Income XXX i. Billed the Customer for service rendered. Accounts receivable XXX Service Income
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Information Systems areers in Accounting A Career in Information Systems Have you ever heard the sayings “knowledge is power” or “information is money”? When people talk about accounting‚ what they are really talking about is information. The information used by businesses‚ as well as the technology that supports that information‚ represents some of the most valuable assets for organizations around the world. Very often‚ the success of a business depends on effective creation‚ management‚ and
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The advantage to the cash payments journal is that every time a payment is made from the company bank account it gets recorded‚ so every time a company makes a payment from their account the cash payments journal is used. What is a subsidiary ledger and what purpose does it serve? An addition to‚ and an expansion of‚ the general ledger is known as a subsidiary ledger. When a group of accounts have common characteristics it is known to be a subsidiary ledger. A subsidiary ledger serves the purpose
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