Auditing in the CBS Environment was never this easy. Anand Jangid gives an insight to the Indian Chartered Accountants regarding the correct approach and methodological concepts that is to be remembered while auditing any CBS Environment.
This presentation would be helpful if you are seeking information regarding Statutory Bank Branch Audit under Banking Regulations Act, India.
This presentation was delivered by me at Institute of Chartered Accountants of India's program in our town during April 2014.
Auditing in the CBS Environment was never this easy. Anand Jangid gives an insight to the Indian Chartered Accountants regarding the correct approach and methodological concepts that is to be remembered while auditing any CBS Environment.
This presentation would be helpful if you are seeking information regarding Statutory Bank Branch Audit under Banking Regulations Act, India.
This presentation was delivered by me at Institute of Chartered Accountants of India's program in our town during April 2014.
AP launched India's first / Asia pacific Region's first dedicated Medical Products Manufacturing Park called AMTZ - Andhra Med tech Zone , in Vizag on 19th August 2016.
Note is prepared for the benefit of the chamber members to know more about the emerging business opportunities in Medical Manufacturing space..
on Medical Manufacturing Park
Not-For-Profit Organizations: The Accounting Updates You Need to KnowMcKonly & Asbury, LLP
This presentation provided attendees with an overview of significant accounting, tax, and compliance developments that are impacting the not-for-profit community. Information shared during the webinar will be beneficial to not-for-profit employees, service providers, and board members.
Supersize that IDA: How enhancing your programs with credit building can achi...NeighborhoodPartnerships
Credit building accelerates asset building. Participants in this session will learn the value of credit building as an asset building strategy and an opportunity for strengthening your clients’ financial capabilities. Participants will learn about what credit building is and basic considerations for integrating credit building into your programs. We will explore credit building innovations including a pilot program here in Oregon that helps clients automatically build credit while fulfilling their IDA savings plan.
Sarah Chenven, Credit Builders Alliance
Nancy Yuill, Innovative Changes
Financial institutions face implementation of a new accounting requirement that was issued in June of 216 by the Financial Accounting Standards Board (FASB), Financial Instruments – Credit Losses (Topic 326) commonly referred to as “CECL.” This new standard will become effective in 2020 for SEC filers and 2021 for all other entities – but compliance requires significant review and potential change in many aspects of governance, risk management, credit models and other aspects of operations, so banks must prepare well before the implementation date to be ready by then. CECL, or current expected credit losses, represents a major change in how banks will be expected to estimate losses in the allowance for loan and lease losses (ALLL). This presentation, provided at a Kansas Bankers Association meeting in November 2016, gives an overview of CECL and how to prepare for compliance with it.
A table to show the Impact of Budget 2021 on prices of all goods either cheap or hike.
Every Budget comes with its own pros and cones.
A detail analysis is also available on www.karmitra.com
by CA Gopal Rathi
A new section is proposed in finance Bill 2021 budget 2021 related to TDS u/s 194Q. Let's see its impact , applicability and comparison with section 206C(1H) for TCS
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
6. Bank Branch Audit
Before you go to the
branch
Ensure you have the
following
• A letter introducing you
• Copy of Appointment letter
• Letter addressed to Branch
Head from HO
7. Bank Branch Audit
•RBI Inspection Report
•HO Inspection Report
•Circle Audit Report
•Internal Audit Report
•Concurrent Audit Report
•Stock Audit Report
•Statutory Audit Report
Ask for
following
Reports
8. Bank Branch Audit
Very Important
Obtain following folders
• 31st March 2015
• 30th November 2015
• 31st December 2015
• 29th February 2016
• 31st March 2016
9. Bank Branch Audit
These all folders are in ZIP folder
Extract all
Now the files are in Text formate
Convert them into Excel formate
Short out Data
Analyse them
17. Bank Branch Audit
• Signature of Customer
• Bank Official Signature
• Photo ID
• Address Proof
• PAN / 60
18. Bank Branch Audit
• Cash Book double verification
• Strong Room Double key operation
• Strong Room open for all
• Cash Verification
• ATM Cash Verification
• Net Banking PIN
19. Bank Branch Audit
• Bank duplicate key
• Premises Insurance
• Lease Rent Agreement
• Fire Alarm
• Emergency Switch
• Gard
20. Bank Branch Audit
• Payment to Contractors TDS
• Rent / Car /etc.
• Locker Operation
21. Bank Branch Audit
• Interest Subvention Certificate
• Compare to MOC if any
• Attendance Certificate
• Unearned Income
• Inoperative Account transaction
• ATM excess withdrawn
• Excess Cash or deficiency
22. Bank Branch Audit
• Exception Reports
• March 31 Folder
• Excel conversion
• Analysis
• Web Page
• Social Engineering
23. Bank Branch Audit
• Check whether payment made to
directly third party in case of Term
Loan
• Transactions with other Banks
26. Bank Branch Audit
All documents relating to
the selected advances
must be verified
Documents are usually
filed as
• General/Correspondence File
• Stock /Receivables Statements
• Loan Documents
• Title Deeds to EM property
29. Bank Branch Audit
Verification of Advances
LFAR divides Advances
verification
• Credit Appraisal
• Sanction and Disbursement
• Documentation
• Review Monitoring and
Disbursement
30. Income Recognition and Asset Classification Norms
Steps Involved
Identification of NPA
De-recognition of Income not realised
Classification of NPA’s according to age
Calculation of provision to be made - account wise
36. Suppose monthly interest is charged in an Account on 30th
October,2015, it becomes overdue on 1st November,2015
and if it is not realised fully within 90 days from the end of the
quarter. Therefore, in the given example, if the interest due
on 30th October, 2015 is not realized by
30th March, 2016, then the account will become NPA on 31st
March, 2016.
Term Loan
Verification of Advances
37. Verification of Advances
Working Capital Finances
(Over draft and Cash Credit)
If accounts remain out of order for
more than 90 days
38. Verification of Advances
Working Capital Finances
(Over draft and Cash Credit)
Particulars Amount (Rs.)
Value of stock 15,00,000
Less: Creditors 3,00,000
Value of paid stock 12,00,000
Less: Margin @ 25% 3,00,000
Drawing power 9,00,000
Stock Statement
Stock Statement shows DP
No Stock St. =>
No Stock =>
DP = 0
40. Short duration crops :
The instalment of principal or interest thereon
remains overdue for two crop seasons.
Verification of Advances
Agricultural Advances
41. Rabi
season
(planted october-
november and harvested
in march-april).
Kharif
season
(planted may- june
and harvested in
october- november).
Verification of Advances
Agricultural Advances
42. Long duration crops :
The instalment of principal or interest thereon remains
overdue for one crop season.
Verification of Advances
Agricultural Advances
43. Period of disbursement -- October, 13
Due date of repayment -- December, 14
Next crop season ended in -- December, 15
NPA on -- 1st January, 16.
Verification of Advances
Agricultural Advances
44. Verification of Advances
Banks should classify an account as NPA only
if the interest due and charged during any
quarter is not serviced fully within 90 days from
the end of the quarter
47. Classification of Advances
Doubtful Assets
NPA’s beyond 12 months
D1
Doubtful Stage 1
NPA between
12 Months and 24 Months
( 1 yr in Doubtful)
D2
Doubtful Stage 2
NPA between
24 months and 48 months
(1 to 3 yrs in Doubtful)
D3
Doubtful Stage 3
NPA more than 48 months
(More than 3 yrs in Doubtful)
53. Advances
Asset Classification needs to be done borrower
wise and not facility wise
even if one small
facility is NPA
All facility of such borrower’s becomes NPA
58. Provisioning Norms
Standard Assets
Direct advances to agricultural and SME sectors at 0.25%
Advances to commercial real estate (CRE) sector at 1.00 %;
Advances to commercial real estate–residential housing sector (CRE-RH) at 0.75%;
All other loans and advances not included in (a) and (b) above at 0.40 %
Housing loan at teaser rate, it will be @ 2%
On newly restructured advances after 1.6.2015 @ 3.5% for March 2016, 4.25%
for March 2015 and @ 5% for March 2016.
On old restructured advances @ 2.75%.
59. Provisioning Norms
SubStandard Assets
Secured exposure: 15% on outstanding balance
Unsecured exposures for escrow accounts available in
respect of
infrastructure lending, infrastructure
loan accounts: 20% on outstanding balance
Other unsecured exposures: 25% on outstanding balance
60. Provisioning Norms
SubStandard Assets
Secured exposure: 15% on outstanding balance
Unsecured exposures for escrow accounts available in
respect of
infrastructure lending, infrastructure
loan accounts: 20% on outstanding balance
Other unsecured exposures: 25% on outstanding balance
61. Provisioning Norms
Doubtful Assets
Unsecured
Portion: 100%
Secured Portion:
Period for which
the advance has
remained in
‘doubtful’
category
Provision Requirement (%)
• Up to one year–D1 25
• One to three years-D2 40
• More than three years–D3 100
63. Dealing with NPA
Accounts regularized near about the balance sheet date
few credits on or near the closing date
The amount of credit may just keep the account floating as
standard
The above can be considered only if the account does not show
inherent weakness
Bank to provide satisfactory evidence of account strength
64. Upgrading of NPA
Full Arrears of
Interest and
Instalments must be
paid
Benefit of 90 days
will not be available
for to consider
upgrading.