Premium Essay

Finance Director Presenting for Finance Committee

In: Business and Management

Submitted By Saralp
Words 727
Pages 3
While making the agenda for the annual finance committee meeting there are some standard routine items to be included. According to Bergner (2014) these routine matters include, a review of the financial statement, accounts receivable updates, and approval of minutes. The agenda for the upcoming meeting in two months would also include the strategic financial plan. The accounts receivable, or the money owed, should include a discussion on how long accounts have been open, and the accounts receivable ratio (Bergner, 2014, p. 24). Bergner (2014) explains that a review of the financial statement would include points on the following five financial statements; balance sheet, statement of operations, statement of changes in unrestricted assets, cash flows, and notes. He explains some key points to discuss from the balance sheet would be a comparison between this year and the previous year’s current assets, total current liabilities, and net assets. In short the balance sheet provides a quick overview of where the organization stand financially. The next financial statement would be the statement of operations, or profit loss statement. Bergner (2014) explains this statement would include information on revenues and expenses resulting in the net profit of the hospital. Key points to discuss during this time would be salaries, bad debts, and investment revenue. The following financial statement would be the statement of changes in unrestricted net assets (Bergner, 2014, p. 49). This financial statement would only require a quick discussion if any changes where seen that effected the net assets, or equity. The final financial statement to be included in the meeting other than the notes would be the cash flow. According to Bergner (2014) there are three key items on this statement; “capital expenditures, proceeds from the issuance of long-term debt,…...

Similar Documents

Premium Essay

Finance

...company and Scrushy of inflating earnings to the tune of $1.4 billion since 1999. In November 2003, a federal grand jury indicted Scrushy on 85 counts including conspiracy, securities fraud, money laundering and charges related to overstating HealthSouth’s earnings by nearly $3.0 billion. According to federal investigators, the company overstated earnings to meet analysts’ earning estimates, while hiding the accounting fraud from the auditors. However, questions were raised whether the auditors failed to find or simply overlooked the fraud at HealthSouth. Central to the investigation was the issue of what role Scrushy played in “cooking the books.” However, as the case unfolded, it highlighted many other issues such as: The role of Board of Directors in corporate governance; the role of the auditors; the effect of conflict of interest between an accounting firm and its consulting arm on auditing; whether the relationship between an investment bank and a company affects the quality of the bank’s research reports on the company; whether the executive compensation that overly relies on company’s earnings provides an incentive for committing such fraud; whether a strong leader can silence all voices of reason in an organization. Background Scrushy, once a high school dropout, worked as a gas station attendant and a bricklayer before retuning to school and earning his diploma. He studied at University of Alabama, Birmingham and graduated with a degree in respiration therapy in......

Words: 3975 - Pages: 16

Premium Essay

Finance

...668 1,262,058 143,022 347,041 9,009,895 50,000 356,395 9,906,353 Bills payable Borrowings Deposits and other accounts Sub-ordinated loans Liabilities against assets subject to finance lease Deferred tax liability Other liabilities 13 14 15 16 17 18,878,652 192,108,597 1,141,164,975 4,857,485 38,221,804 1,395,231,513 122,608,652 13,894,502 33,714,904 875,308,597 4,497,285 34,983,770 962,399,058 101,454,590 5 6 7 8 9 10 11 12 152,324,425 23,907,534 24,828,255 777,185,323 460,070,634 21,185,101 5,743,464 52,595,429 1,517,840,165 103,080,076 34,985,809 41,581,029 399,939,469 416,261,389 17,107,263 6,957,290 43,941,323 1,063,853,648 Note 2012 2011 (Rupees in '000) 1,044,311 NET ASSETS REPRESENTED BY: 124,784 374,036 639,514 1,138,334 123,724 1,262,058 Shareholders' equity 113,440 Share capital 310,898 Reserves 537,610 Unappropriated profit 961,948 82,363 Surplus on revaluation of assets - net of deferred tax 1,044,311 CONTINGENCIES AND COMMITMENTS 18 12,122,748 36,337,497 62,128,562 110,588,807 11,020,680 30,203,696 52,228,646 93,453,022 8,001,568 101,454,590 19 12,019,845 122,608,652 20 & 21 The annexed notes 1 to 49 and annexures I to V form an integral part of these unconsolidated financial statements. President and Chief Executive Officer Director Director Director HABIB BANK LIMITED UNCONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 31, 2012 2012 2011 (US $ in '000) 1,177,562 600,354 577,208 57,834 72 (4,094)......

Words: 33093 - Pages: 133

Premium Essay

Lease Finance of Uttara Finance

...emerged as an alternative source of finance and well sought after arm for credit for SMEs. In order to catch up with the demands of time, most leasing companies have diversified their products and services into other areas like small loans, housing loans, start-up working capital and domestic factoring of accounts receivable. Further to reducing dependence on traditional borrowings from banks for meeting their working capital requirements, some of them have already introduced new financial instruments like Bonds, Securitization of Assets, Syndication Services, Merchant Banking, Stock Brokerage Services, etc which have set new trends for others to follow. 1.2 Objective of the Report There had been some objectives set forward in doing this report so that it can be determined what tasks to perform in the organization. These objectives were not influenced by thought or feeling. These objectives are described in the following: 1.2.1 Broad Objectives ▪ To make an introduction of the ground of NBFI in Bangladesh and specifically UFIL. ▪ To introduce the functional departments of UFIL. ▪ To understand the functions of the departments. ▪ To articulate the financial position of UFIL ▪ To bring out the position of UFIL in the industry. ▪ To get idea about various products of UFIL other than lease financing ▪ To get idea about challenging issues for the leasing industries as well as Uttara Finance and Investments......

Words: 8961 - Pages: 36

Premium Essay

Finance

...ARTICLE IN PRESS Journal of Financial Economics 73 (2004) 497–524 Who is in whose pocket? Director compensation, board independence, and barriers to effective monitoring$ Harley E. Ryan Jr.a,*, Roy A. Wiggins IIIb a Department of Finance, E. J. Ourso College of Business Administration, Louisiana State University, Baton Rouge, LA 70803, USA b Department of Finance, Bentley College, Waltham, MA 02452, USA Received 8 October 2003; accepted 18 November 2003 Available online 9 June 2004 Abstract We use a bargaining framework to examine empirically the relations between director compensation and board-of-director independence. Our evidence suggests that independent directors have a bargaining advantage over the CEO that results in compensation more closely aligned with shareholders’ objectives. Firms with more outsiders on their boards award directors more equity-based compensation. When the CEO’s power over the board increases, compensation provides weaker incentives to monitor. Firms with more inside directors and with entrenched CEOs use less equity-based pay. Furthermore, firms with entrenched CEOs and CEOs who also chair the board are less likely to replace cash pay with equity. r 2004 Elsevier B.V. All rights reserved. JEL classification: G30; G34; G38 Keywords: Board of Directors; Compensation; Bargaining power; Agency theory; Regulation $ We thank Tom Arnold, George Baker, Lucian Bebchuk, Alex Butler, Sudip Datta, Mai IskandarDatta, Melissa Frye, Stuart......

Words: 14393 - Pages: 58

Free Essay

Finance

...letters on the relevant subject(s), which are available on SBP’s website (www.sbp.org.pk). THE TEAM NAME DESIGNATION Inayat Hussain Executive Director (BPRG) Syed Irfan Ali Director (BPRD) Muhammad Saleem Additional Director (BPRD) Kazi Sarfraz Joint Director (BPRD) Amjad Ali Joint Director (BPRD) Ishrat Hussain Deputy Director (BPRD) Rao Ahmed Mukhtar Deputy Director (BPRD) Mahvish Naeem Assistant Director (BPRD) Nazia Tahir Bodla Assistant Director (BPRD) Website Address: www.sbp.org.pk CONTENTS PART-A PART-B Definitions. Regulations. RISK MANAGEMENT (R) Regulation R-1 Regulation R-2 Regulation R-3 Regulation R-4 Limit on exposure to a single person. Limit on exposure against contingent liabilities. Minimum conditions for taking exposure. Limit on exposure against unsecured financing facilities. Linkage between financial indicators of the borrower and total exposure from financial institutions. Exposure against shares/TFCs and acquisition of shares. Guarantees. Classification and provisioning for assets. Assuming obligations on behalf of NBFCs. Facilities to private limited company. Payment of dividend. Monitoring. Margin requirements. CORPORATE GOVERNANCE (G) Regulation G-1 Corporate governance/board of Directors & management. Dealing with directors, major shareholders & employees of the banks/DFIs. Contributions and donations for charitable, social, educational and public welfare purposes. Credit......

Words: 25889 - Pages: 104

Premium Essay

Importance of a Finance Director

...Name Institution Instructor Date 4.1. The role of the financial director: In any company, the financial director contributes to fulfilling the company objectives through the financial guidance he gives to the business. The director also helps to develop the policies and procedures needed to make sure that the company finances are well managed. He/she is in charge of preparing the financial statements ensuring that they are presented on time and in the correct order. They are in charge of all financial transactions both within and outside the company including the legal duties and responsibilities of the business. The financial director does financial planning for the business. The financial plan reveals the short term and long term goals of the business. With a plan, the business can make wise financial decisions and are able to look at the position they are in and where they want to go. With the financial plan, one is able to analyze the financial statements and plan for the future. This is because the statements will show the company’s performance and value. From the financial statements, the director is able to: * Plan for the components of the statement. Whether it is the assets or the capital needed for the day to day running of the business, the director will be able to plan for the source of funding. * Spot areas of weakness and correct them before further damage is done to the business. The areas of financial shortfalls such as the working capital are worked......

Words: 310 - Pages: 2

Free Essay

Finance

...the Basel Committee on Banking Supervision (BCBS), established by the central bank of the G-10 countries in 1974. This came into being under the patronage of Bank for International Settlements (BIS), Basel, Switzerland. The Committee formulates guidelines and provides recommendations on banking regulation based on capital risk, market risk and operational risk. The Committee was formed in response to the chaotic liquidation of Herstatt Bank, based in Cologne, Germany in 1974. The incident illustrated the presence of settlement risk in international finance. Historically, in 1973, the sudden failure of the Bretton Woods System resulted in the occurrence of casualties in 1974 such as withdrawal of banking license of Bankhaus Herstatt in Germany, and shut down of Franklin National Bank in New York. In 1975, three months after the closing of Franklin National Bank and other similar disruptions, the central bank governors of the G-10 countries took the initiative to establish a committee on Banking Regulations and Supervisory Practices in order to address such issues. This committee was later renamed as Basel Committee on Banking Supervision. The Committee acts as a forum where regular cooperation between the member countries takes place regarding banking regulations and supervisory practices. The Committee aims at improving supervisory knowhow and the quality of banking supervision quality worldwide. Currently there are 27 member countries in the Committee since......

Words: 13616 - Pages: 55

Premium Essay

Finance

...sincere regret for the impact of the commercial income issue on this company, and would like to assure you that we have moved swiftly and decisively to address this serious matter. An explanation of this issue is set out on page 33. With my colleagues on the Board, I am determined that Tesco will be known for the highest standards of corporate governance and ethical leadership. I would like to thank my predecessor Sir Richard Broadbent, who has been resolute in addressing the numerous challenges and handled the scrutiny which the company has been under with great dignity. I would also like to thank Patrick Cescau, Jacqueline Tammenoms Bakker, Liv Garfield and Gareth Bullock who have recently retired as Non-executive Directors and also Ken Hanna and Stuart Chambers who have decided not to seek re-election to the Board at the AGM. I’m delighted to welcome Richard Cousins, Mikael Olsson and Byron Grote to the Board. Tesco is lucky to have an outstanding new management team led by our CEO, Dave Lewis, and our CFO, Alan Stewart. They are supported by a first-class team of people who have begun the hard work of putting this great business back on its feet. As I have visited stores and other sites I have been struck by the commitment, enthusiasm and capability of Tesco’s people. I am very confident that with their support Tesco will be successful in refocusing on customers, rebuilding trust and over time delivering progressively better......

Words: 97179 - Pages: 389

Premium Essay

Finance

...Response to the Finance Questions Name University Response to the Finance Questions Response to Question 1 Liquidity premium theory states that the yield obtained from the bonds that are long term are greater than the return that is expected from short-term bonds that roll over so as to compensate long-term bonds investors for bearing the risks of interest rate. Bonds that have different maturity can, therefore, have different yields regardless of the possibility of future short rates being equivalent to the present short rate. This results in a yield curve that bends upwards even if the short rates are expected to fall if liquidity premiums are sufficiently high. However if the curve slopes downwards and an assumption is made that the liquidity premiums is positive, then we can presume that future short rates would be lower than the present short rate (Lim & Ogaki, 2013). Liquidity premium theory agrees with expectations theory since it gives the same significance to the expected future spot rates though it puts more weight on the impacts of the risk preferences that exist in the market. The main concept of this theory is to compensate an investor for the additional risk of having his capital tied up for a more extended period. It, therefore, aims at enticing investors to engage in long-term investments. Due to the uncertainty associated with long-term rates which have less marketability and greater price variability, investors, therefore, need to be given higher...

Words: 1288 - Pages: 6

Premium Essay

Finance

...Accounting Standards Board (IASB) The International Accounting Standards (IAS) The International Financial Reporting Standards (IFRS) SS10 Recognition R33: Financial Reporting Quality R34: Financial Statement Analysis: Applications Measurement IFRS Disclosure Financial analysis 3-375 4-375 Framework Financial reporting & analysis 1. The role of financial reporting and financial statement analysis The role of financial reporting The International Accounting Standards Board (IASB) definition: 2. The resources used for financial statement analysis Financial reporting refers to the way companies show their financial performance to investors, creditors, and other interested parties by preparing and presenting financial statements. Key financial statements Other relevant information The objective of financial statements is to provide information about the 3. Auditing 4. Financial statement analysis framework Financial position Financial performance Changes in financial position of an entity that is useful to a wide range of users in making economic decisions. The role of financial reporting analysis is to use the information in a company’s financial statements, along with other relevant information, to make economic decisions. 5-375 6-375 Financial statements Balance sheet Key financial statements: Financial position Financial performance The balance sheet The income statement Balance......

Words: 25054 - Pages: 101

Free Essay

Finance

...Investment of Reserves Foreign Exchange Reserves Management: The RBI’s Approach Payment and Settlement System: Evolution and Initiatives Institutions to meet Needs of the Evolving Economy Page No. 8 8 15 24 28 36 41 53 54 64 73 Improving Banking Services in Comparatively Backward States 74 6 1 Overview The origins of the Reserve Bank of India can be traced to 1926, when the Royal Commission on Indian Currency and Finance – also known as the Hilton-Young Commission – recommended the creation of a central bank for India to separate the control of currency and credit from the Government and to augment banking facilities throughout the country. The Reserve Bank of India Act of 1934 established the Reserve Bank and set in motion a series of actions culminating in the start of operations in 1935. Since then, the Reserve Bank’s role and functions have undergone numerous changes, as the nature of the Indian economy and financial sector changed. 7 Origins of the Reserve Bank of India  1926: The Royal Commission on Indian Currency and Finance recommended creation of a central bank for India.  1927: A bill to give effect to the above recommendation was introduced in the Legislative Assembly, but was later withdrawn due to lack of agreement among various sections of people.  1933: The White Paper on Indian Constitutional Reforms recommended the creation of a Reserve Bank. A fresh bill was introduced in the Legislative Assembly.  1934: The Bill was passed and......

Words: 31973 - Pages: 128

Premium Essay

Finance

...Southeast Asia and Middle East. Etisalat is based in Abu Dhabi, UAE and was established in January 1976. Company Establish Date01 January 1976 Emirates Telecommunications Corporation | Consolidated statement of profit or loss for the year ended 31 December 2014 | | 2013 (AED’000) | 2014 (AED’000) | Continuing operations | | | Revenue | 48,766,875 | 38,564,181 | Operating expenses | -31,832,583 | -24,397,205 | Impairment and other losses | -931,963 | -1,374,176 | Share of results of associates and joint ventures | -461,065 | 1,754,341 | Operating profit before federal royalty | 15,541,264 | 14,547,141 | Federal royalty | -5,333,084 | -6,115,016 | Operating profit | 10,208,180 | 8,432,125 | Finance and other income | 2,653,494 | 468,558 | Finance and other costs | -1,736,511 | -437,572 | Profit before tax | 11,125,163 | 8,463,111 | Taxation | -1,153,576 | -648,647 | Profit for the year from continuing operations | 9,971,587 | 781,446 | Loss from discontinued operations | -118,108 | -63,516 | Profit for the year | 9,853,479 | 7,750,948 | Profit attributable to: | | | The equity holders of the Corporation | 8,892,019 | 7,078,388 | Non-controlling interests | 961,460 | 672,560 | Earnings per share | 9,853,479 | 7,750,948 | Basic and diluted | AED 1.12 | AED 0.90 | | Direct cost of sales | 8,613,096 | 10,453,322 | inventory | 125,305 | 191,419 | Emirates Telecommunications Corporation | Consolidated statement of......

Words: 1836 - Pages: 8

Premium Essay

Finance

...Finance Course: Corporate Finance MBA−10 California College for Health Sciences MBA Program McGraw-Hill/Irwin abc McGraw−Hill Primis ISBN: 0−390−55204−6 Text: Harvard Business School Entrepreneurship Cases Corporate Finance, Seventh Edition Ross−Westerfield−Jaffe Harvard Business School Finance Cases This book was printed on recycled paper. Finance http://www.mhhe.com/primis/online/ Copyright ©2005 by The McGraw−Hill Companies, Inc. All rights reserved. Printed in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher. This McGraw−Hill Primis text may include materials submitted to McGraw−Hill for publication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 FINAGEN ISBN: 0−390−55204−6 Finance Contents Ross−Westerfield−Jaffe • Corporate Finance, Seventh Edition I. Overview 1 1 20 34 34 35 70 98 130 152 152 193 219 219 241 241 275 1. Introduction to Corporate Finance 2. Accounting Statements and Cash Flow II. Value and Capital Budgeting Introduction 4. Net Present Value 5. How to Value Bonds and Stocks 7. Net Present Value and Capital Budgeting 8. Risk Analysis, Real Options, and Capital Budgeting III: Risk 10. Return and Risk: The......

Words: 179333 - Pages: 718

Premium Essay

Charter of the Finance and Audit Committee of the Oracle Corporation Board of Directors

...CHARTER OF THE FINANCE AND AUDIT COMMITTEE OF THE ORACLE CORPORATION BOARD OF DIRECTORS (As last amended by the Board of Directors on July 13, 2008) I. PURPOSE The primary function of the Finance and Audit Committee (the “Committee”) is to provide advice with respect to the Corporation’s financial matters, to oversee the accounting and financial reporting processes of the Corporation and the audits of the financial statements of the Corporation, to assist the Board of Directors in fulfilling its oversight responsibilities regarding finance, accounting, tax and legal compliance, and to evaluate merger and acquisition transactions and investment transactions proposed by the Corporation’s management. Consistent with this function, the Committee endeavors to encourage continuous improvement of, and foster adherence to, the Corporation’s policies, procedures and practices at all levels. The Committee’s primary duties and responsibilities are to: • • • • • • Serve as an independent and objective party to monitor the Corporation’s financial reporting process and internal control system. Review and appraise the audit efforts of the Corporation’s independent accountants and internal audit department. Evaluate the Corporation's quarterly financial performance as well as its compliance with laws and regulations. Oversee management's establishment and enforcement of financial policies and business practices that are designed to manage business and financial risk and to comply with......

Words: 2675 - Pages: 11

Premium Essay

Finance

...(Asst. Professor, NRIBM) Submitted By: Subm Sandip A. Makwa (08056) akwana Luv D. Palk (08064) . Palkar Prof. Viral Pandya (Asst. Professor, NRIBM) (Batch: 2008-10) N. R. Institu of Business Management nstitute ent CERTIFICATE This is to certify that Mr. Sa ndip A. Makwa wana (08056) and Mr. Luv D. Palk alkar (08064 ) students of N.R.Institute of Business Management has successf te essfully completed their grand project on “Credit Risk Management at State Bank of Mysore” “Credit Mysore” Ba in partial fulfillment o two years Master of Business Administration of s A Programme of Gujarat University. This is their original wor and has not t U work been submitted elsewhere ere. _________________________ Dr. Hitesh Ruparel Director In-charge, NRIBM _____________________________ Prof. Dharmesh Shah Asst. Professor, NRIBM & Internal Project Guide ______________ _______________________ Prof. Vir Pandya of. Viral Asst. Professor, NRIBM & st. Profess Internal Pr nternal Project Guide Date: / / 2010 Place: Ahmedabad Preface Banks are regarded as the blood of the nation’s economy without them one cannot imagine economy moving. Therefore banks should be operated very efficiently. Advance is heart and recovery is oxygen for the bank and to survive it is necessary to give advances and recover the amount at the appropriate time. Through credit risk management we have tried to learn the various aspects related to credit appraisal and credit policy of......

Words: 16592 - Pages: 67