Banking Service Process of Opening Account

The process of opening current and saving account:

            A bank should be very careful in entertainment a new customer. For this purpose, the bank may follow the procedure given below:

-         Presenting of application : the application should fill in the prescribed from the opening of account available in the concern bank. Bank keep different form the individuals, as partnership firm, companies. The application should be fill in the relevant form and mention his name, occupation, full address, specimen signature and other particular require by the bank. The application has also to declare the he will be bound by the bank  rule for the time being in force for the conduct of the concern account.

-         Specimen signature: the application is required to give his specimen signature on a card meant for this purpose. This will help to protect the bank against forgery.

-         Deposit cash: when the above formalities are completed, the bank will agree to open an account in the name of the application. Before the opening the account, the customer must deposit the maximum initial deposit in cash. In cash of saving account, the maximum deposit of $500, if no check book is quire.

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Service of Transaction Deposit

Service of Transaction Deposit

Commercial bank is a profit seeking the business firm, dealing in the money and credit . it is financial institution dealing in money in the sense that it accept deposit of the money from the public to keep them in its custody for safety. Bank create credit by making advance out of the fund receive as deposits to need people. It thus, function as a mobile of saving in the economic. And can help the poor people to growth up with new job and invest. The bank is very important for the trader and investor especially area people. For the bank there are many service in the bank but now I will show the special service and function that microfinance and banking usually use it for operation and invest the money. 

            There are 4 type of Deposit:

1.      Current Deposits: these deposit can be withdraw at any time. Generally, no interest is allowed on current deposits. These deposit are kept by businessmen and industrialist who receive and make the large payment through bank. And show the  benefit from these service of current account:

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The purpose of Life

In the world have a lot of existence that growing up, like plane and human too. All the existence have to the value of life the same values are choice who people make in the life. The value of the person decided the way here behaves. They do so because of their value. Everyone has value, your friend have value, your parent have value. You learn value from your parent, friend and from other people you meet. You form your own value from hearing what they say and from watching how they behave so value of life is very important for human existence to live in live that has the real meaning or purpose.

      Life or human existence has no meaning or purpose because human existence occurred out of the random chance in nature and anything that exist by chance has no intend purpose.

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Banker and customer Relationship

Banker and customer Relationship

The relationship between the banker and the customer arise out of the contract entered in between them. The relationship between the banker and customer is vital. The relationship start right from the moment an account is opened and it come to an end immediately on closure of the account. This the relationship two of type:

• General relationship 
•     Special relationship.

A.    General Relationship

       The General relationship between the banker and customer can be classified into two type :

•  Primary relationship

•  Secondary relationship, show the below:

It will be inform of

       a.       Banker agent : a bank act as an agent of his customer and perform the number of agent 

function for the convenience of his customer. These are below:

1.      Purchase and sell securities.

2.      Collection of income and profit.

3.      Making periodical payment instruction by his customers.

4.      Collecting interest and dividend on securities lodge by his customer.

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Auditing Process

The auditor’s transaction-relate audit adjective follow and are close relate to management assertion. This is not surprising because the auditor primary responsibility is to determine whether management assertion about financial statement are justified. 

This transaction relate audit objective are intent to provide the framework to help the auditor accumulate sufficient appropriate evidence require by the third standard of field work and decide the proper evidence to accumulate for the class of transaction given the circumstance of the management. The objective remain the same from audit to audit, but the evidence varies, depending on the circumstances.
There are the different between general transaction relate audit adjective and specific transaction audit adjective for the each class of transaction. The six general transaction audit adjective discuss there are applicable to very class of transaction and are stat in the broad term. Specific transaction relate audit adjective are also applies to each class of transaction but are state in the term tailors to a specific transaction relate audit objective. There are be used to develop specific transaction relate audit objective for each class of transaction being audited.

- Occurrence report transaction exist this objective deal with the whether record transaction actually occurred. Inclusion of the sale journal when no sale occurred violate the occurrence objective. This objective is the auditor counterpart to management assertion of occurrence for class of transaction. The occurrence and completeness objective emphasize opposite audit.Occurrence deal with potential overstatement, completeness with unrecorded action.

- Accuracy-Record transaction are state at the correct amount the objective address accuracy of information accounting transaction and is one part of the accuracy assertion for class transaction, for sale transaction and objective violate if the quantity of the goods ship was different from the based quantity and wrong sell price was use for billing, extension or adding error occurred and wrong amount was include in the sale journal. It is important to distinguish between accuracy and occurrence or completeness, for example, if the record sale transaction should not have been recorded because the shipment was on consignment, the occurrence objective has been violate.

- Posting and Summarization: Record transaction are property include in the master file and are correctly summarization this objective deal with occurrence of the transfer of information from recode transaction in journal to subsidiary record and the general ledger. It is part of accuracy assertion for class of transaction.

- Classification: transaction include in the client journal are property classified this objective address whether transaction are include in the appropriate account, and is the auditor’s counterpart to management classified assertion of class of transaction.

- Timing: transaction are record on the correct date. The timing objective for transaction is the auditor’s counterpart to management cutoff assertion. A time error occurs if the transaction is not record on the day it took place. A sale transaction. After the general transaction relate audit objective are determine specific transaction relate audit objective for each material class of transaction can be develop.

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Special Audit Finding

Sources of Finding

•  Microfinance has received signification from the donor community. Based upon is potential as a powerful tool for property alleviation. As such, many million of dollar has been spent on promoting microfinance program around the world. For most MFI is very important for the people and enterprise. It can help all them for invest and being a new company or run the business to other country. So that we can say the Microfinance can take easy for our. And we can use the banking system for transfer and Exchange rate. For any function we can take easy to use it. so like that, Deposit service, transfer service, Loan service, Exchange rate service, Trade service, securities service…etc.

For bank there are many major and position function.  It can process good and success depending on part of it. In the bank there are a lot of part that have duty for process bank. There are many type of major so like that: Cleaner, Customer service, Teller, Acceptant, Phone service, International Technology, Operational, Credit officer, specialize credit officer, Bad debt, banker, Auditor(Internal Auditor and External Auditor), …etc. Now I want show about small part say about auditor and it’s duty:

- Completeness this assertion deal with the whether all require disclosure have been included in financial statement. As a example: management assertion that all material transaction with relate parties have been disclosed in the financial statement. 

- Accuracy and Valuation: the accuracy and valuation and allocation assertion deal with the whether financial information is disclosed fairly and at appropriate amount. Management disclosed the amount of unfunded pension obligation and assumption underlying this amount this is an example of this assertion.

- Classification and Understandabilities this assertion relate to the whether amount are appropriately classified in the financial statement and footnote. And whether the balance description and relate disclosure are understandable. For Example, management assertion that the classified the inventories as finished good, work-in-process, and raw material is appropriate, and the disclosure of the method use to value inventories are understandable.

Auditor my use different term to express the management assertion as long as all the aspects are address. The auditor should consider the relevance of each assertion for each significant class of transaction , account balance and presentation and disclosure. Relevant assertion have he meaningful bearing on whether of account is fairly stat and are use to access the risk of material misstatement and the design and performance of audit procedure, For example. Valuation is very large to be a relevant assertion for account receivablec but not for cash. After relevant assertion is like to bed  have been identified, the auditor can be then development.

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CAMELS rating

Background of the Study

Bank is very old institution that is contributing toward the development of any economy and its treated an important service industry in modern world. .Recently a well-judged technique named CAMELS rating is widely used for evaluating performance of financial institutions, especially to banks. Central bank, which is regulatory body has been calculating this rating till now.

Capital Adequacy

Focuses on the total position of bank capital and protects the depositors for the potential shock so flosses that a bank incur.

Asset Quality

The composition of all commercial banks shows the concentration of loan sand advances in total assets. The high concentration of loan sand advances in dicates vulnerability of assets to credit risk, especially since the portion of non-performing assets is significant

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Banker and Customer

Introduction 

• Banking industry occupies an important place in nation’s economy. One cannot think of the                  development of any nation without the active assistant rendered by financial institution. 

• Right from small businessman, up to the biggest business tycoon, they invariably depend upon            finance of different type given by the bank. Therefore, one has to accept that the banking                    industry play vital role in every field and every juncture of the business.

• This chapter deal with the relationship that the exists between the banker and the customer. The            relationship start right from a movement on account is opened and it come the end immediately          on course of the account.

1. Meaning of Banker and Customer 

Meaning of the banker: the banker are the term “banker “refer to the person or company carrying on the business of receiving the money and collection drafts, for the customer subject to obligation of honoring check draw upon them from time to time by the customer to the extent of the amount available on their current accounts.

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Overview of Banks (Continue)

Function of Bank

Bank have to perform a variety of the function which are common both to develop and developing country. These are known as “General Banking” function of the banking institution. The modern bank performs to variety of function. These can be broadly divided into two categories: (a) Primary function and (b) Second Functions.

A.      Primary Functions

Primary function of the banking institution includes:

1.       Acceptance of deposit: Accepting deposit is the primary function of a bank mobile savings of the household sector. Banks generally accept three type of deposit: (a) Current deposits, (b) Saving deposit and (c) Fixed deposit.

(a)    Current deposit: These deposits are known as demand deposit. These deposit can be withdraw at any time. Generally, no interest is allowing on current deposit and in case the costumer is require to leave a minimum balance undrawn with the bank. Cheek are sued to withdrawn the amount. These deposits are keeping by the businessman and industrialist who receive and make large payment through the bank.

(b)   Saving deposits: the is the meant mainly for professional men and middle class people to help them deposit their small savings. Money can be deposited at any time. Interest is allowed on the credit balance of his account.

(c)    Fixed Deposits: These deposits are also known as time deposit. This depositcannot be withdrawn before expired of the period. They are attracting by the payment of interest which is usually higher for the longer period. Fixed deposit are like by depositor both for their safety and as well as for their interest.

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Bank of Operation

• Overview of Banks

1.      Introduction

·         Definition of Bank ; Bank is financial institution which deal with debts and credits. It is accept deposit, lend money and also create the money. It bridges gap between the saver and borrower. The bank is not merely trader in money but also it an important sense manufacture of the money.

·         Bank occupies one of the important positions in the modern economic world. It is necessary for trade in industry.

·         It is one of the great agencies of commerce.

·         Its presence is very helpful to the economic activity of the country.

2.      Meaning of Bank

·         The bank is profit-seeking business firm, dealing in money and credit.

·         It is a financial institution dealing in money the sense that it acceptdeposit of money from the public to keep them in it custody for safety.

·         It is also deal the credit. It the credit creates by making advance out of the fund receive as deposit to the needy people.

·         It is like a reservoir into with flow the saving, the idle surplus money of household and from which loan are given on the interest to the businessman and other who need them for investment or productive use.

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The Movie I like the Best one

The Movie I like the Best one

            Many a lot of friends do not agree with me when I say “The Movie like the Best”. They many call this an of fashion movie but I am not worries about their judgment. 

            I like this movie for various reasons. Firstly, it is so full the magical thrill and second. The laughter it produces is much. From the very beginning the end part I. not only enjoys the magical thrill but also laugh heartily.

            Out of the nothing their appear a city and transformation of various person including the top star so the man can fly and have the full magic see look like amazing.

 All this the really wonderful stories. The protect produce by the magic lamp is great and I was t can pass anything on the world from place to other place it looking so easy from them and very possible. The whole show was thrill for me.

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