as a trustee is different from that of a debtor to the customer. When a bank receives a cheque from the customer for collection from another bank‚ the bank becomes a trustee till the amount of cheque is realised. Once‚ the amount is credited to the customer’s account‚ the banker assumes the position of a debtor. 5. Principal-Agent Relationship: Banks perform many agency functions such as collection of cheques or drafts or bills‚ collection of interest and dividends on securities‚
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BU227 – Financial Accounting Module 1 Provided by: Laurier SOS Things to Cover The Accounting Environment IFRS and GAAPs Accounting’s Conceptual Framework Financial Statements Overview Recording Transactions Accrual Accounting Account’s Receivable Amortization Inventory The Accounting System Financial Accounting System (preparation of four basic financial statements). Managerial Accounting System (preparation of detailed plans‚ forecasts and reports). External Decision Makers
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The Hero’s Journey: The Odyssey by Homer is the story of Odysseus‚ a very brave‚ strong and smart Greek mythic hero who embarks on an epic journey. His journey fulfills all the requisites of a Hero’s Journey. Odysseus’ Journey takes him through various mental stages which will be outlined in bold. Odysseus’ ordinary world is that of the island of Ithaca where he lives with his beloved wife. When he was looking for a bride‚ Odysseus visited Sparta where he met Menelaus who was to wed
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in gold‚ silver or paper money. There are cheques and bank notes‚ which are the examples of fiduciary money because both are some kind of token which are used as money and carry the same value. 4. Commercial Bank Money: Commercial Bank money or demand deposits are claims against financial institutions that can be used for the purchase of goods and services. A demand deposit account is an account from which funds can be withdrawn at any time by cheque or cash withdrawal without giving the bank
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INTERNSHIP REPORT ON “HABIB BANK LIMITED” SUBMITTED BY Sadia Siddiqui Reg#14365 Enrollment# 02-211082-11 SUBMISSION DATE MAY 15‚ 2012 Acknowledgements: All the praises are for the almighty‚ Allah who bestowed me with the ability and potential to complete this Internship. I also pay my gratitude to the Almighty for enabling me to complete this Internship Report within due course of time. Words are very few to express enormous humble obligations to my affectionate Parents for their prayers and strong
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phone with just an internet connection‚ anytime‚ anywhere and mostly anything they want to do with their banking account. With the mobile banking‚ now the customers can make payments‚ check balances‚ transfer money between accounts‚ stop payment on a cheque‚ view a monthly statement‚ without queue-ing up in the branch of the bank that will waste time of the customers. Mobile Banking Operation There are four fundamental approaches to mobile banking. The first two rely on technologies that are standard
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Information technology is one of the most important facilitators for the transformation of the Indian banking industry in terms of its transactions processing as well as for various other internal systems and processes. The various technological platforms used by banks for the conduct of their day to day operations‚ their manner of reporting and the way in which interbank transactions and clearing is affected has evolved substantially over the years. The technological evolution of the Indian
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An Investigation into the Accounting Operation of Cookridge Carpets 1. Methodology 1. After an overall look into the accounting system of Cookridge Carpets during the period from December 2009 to May 2010.It showed that there were a number of issues within the Accounts Department that needed to be reviewed. 2. A meeting was held with the owners and the accounts team to identify the current weaknesses‚ how to improve them and to find solutions to
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Final Report Corporate Internship Submitted To: DEDICATION I would like to dedicate this report to my most dear parents and respected teachers who guided us through our studying period and are still doing their best for us. To be here in this institution at this level‚ we are just because of our parents‚ especially their training‚ guidance love‚ affection and motivation. We pray that we can serve our parents as best as we can. “Parents’ and teacher’s’ Blessings are Our Most Valuable
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Introduction The economy can be divided in the entire spectrum of economic activity into the real and monetary sectors. The real sector is where production takes place while the monetary sector supports this production and in a way is the means to the end. We know and we accept the financial system is critical to the working of the rest of the economy. In fact‚ the Asian crisis of the nineties‚ or for that matter what happened in Latin America and Russia subsequently and also Dubai Crisis
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