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Accounting Manual
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Bangladesh Cricket Board Financial &
Accounting Manual
CHAPTER 1 INTRODUCTION
1.00 About Bangladesh Cricket Board 6
2.00 Preamble 6
3.00 Financial Accounting Objectives 7
4.00 Accounting and Auditing Requirements 8
5.00 Accounting Offices 8
6.00 Accounting Year 9
7.00 Books of Accounts 9
CHAPTER 6 MAINTENANCE OF
REGISTERS
58.0 Types of Registers 38
0
59.0 Fixed Assets Register 38
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60.0 Salary & Payroll Payment Register 38
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61.0 Cheque Issue Registers 38
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62.0 Cheque/DD/PO Receipt Registers 39
0
63.0 Income Tax Register 39
0
64.0 VAT Register 39
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65.0 Stock & Store Register 39
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66.0 Bill Register 40
0
67.0 Petty Cash Register 40
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68.0 Advance Slip / IOU Register 40
0
69.0 Budget Register 41
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70.0 Agreement Register 41
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71.0 Work Order Register 41
0
0
76.0 Purchase, Stock & Store Accounting Activities 43
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77.0 Budgeting, Tax and Internal & External 43
0 Reporting Activity
BANK TRANSACTION
88.0 General 48
0
89.0 Procedure of Opening Bank Account 48
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90.0 Title of Bank Account 48
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91.0 Unit Offices (Outside Dhaka) Bank Accounts 48
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92.0 Operation of Bank Accounts 48
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93.0 Signatories Details 48
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94.0 Cheque Counterfoil 49
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95.0 Cancellation of cheques 49
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96.0 Canceled Cheques 49
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97.0 Cheque Issue Register 49
0
98.0 Demand Draft, Cheque & Payorder Receipt 49
0 Register
99.0 Payment from Bank 49
0
100. Withdrawal of Cash from Bank 49
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101. Bank Statement and Bank Certificate 50
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FUND MANAGEMENT
109. Operational Bank Accounts 52
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110. Fund Management 52
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111. Investments 52
00
112. Loan 52
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113. Advance 52
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114. Sale of Commercial Rights and Sponsorship 53
00
115. Procedure of Receiving Money 53
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116. Payment Procedure 56
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116. Payment Procedure on Specific Payment 56
01
116. Responsibility of the Requisitioner 65
02
116. Responsibility Finance division 65
03
116. Cheque payments 66
04
116. Cash payment system 66
05
116. Matters to be considered at the time of payment 67
06
EXPENDITURE
117. Expenditure Management Policy 67
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118. Expenditure Process 70
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119. Procurement Procedure 70
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120. Requirements for Reimbursement of Expenditure 70
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121. Expenditure Report Approval and Submission 71
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136. Introduction 91
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137. Salary Payment 91
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138. Some Noteworthy Points with Regard to Payment 91
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139. Attendance Register & Statement 91
00
140. Leave Statement 92
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141. Procedures of Salary Payment 92
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142. Timing of Salary Payment 92
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143. Deduction from Salary 92
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144. Overtime Management 92
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145. Telephone 93
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PREPAYMENTS
146. Introduction 94
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147. Types of Advances to be allowed 94
00
148. Staff Advances against Traveling 94
00
149. Staff Advances against Purchase 95
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150. Staff Advances against program Expenses 96
00
151. Third Party Advance against House Rent 97
00
152. Third Party Advance against Material 97
00 Suppliers/Contractors
153. Third Party Advance against Service Providers 98
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154. Authorization of Advances 98
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155. Internal Control in Advance Management & 98
00 Accounting
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CHAPTER 1
INTRODUCTION
1.00 About Bangladesh Cricket Board:
Legal Form:
Bangladesh Cricket Board (BCB) was established back in 1972. The core
objective of the Board is to raise the overall cricket environment in Bangladesh.
Its jurisdiction covers the cricket game all over the country as well as
maintaining co-ordination with the international cricket Bodies. It makes efforts
for the arrangement of different cricket matches both at National and
International level.
With an eye to promoting the age-level cricket in the country, B.C.B has already
taken some realistic initiatives those include training-up the juvenile cricketers
under the guidance of some overseas coaches and local coaches for a stipulated
period of time and thereafter their inclusion in the National team which is also
looked after by a foreign coach along with an assistant round the year. These
steps have already begun to yield positive results. A number of juvenile
cricketers from various age-level coaching are now representing Bangladesh in
the international arena. Apart from this, B.C.B has well-thought-out plans
designed to develop the infrastructure that would facilitate cricket up gradation
in Bangladesh. Development work in this context has already started and is in
progress.
2.00 Preamble:
It is important indeed that Bangladesh Cricket Board may expect to prepare and
receive financial statements of the revenue so utilized. Therefore, to enable the
accounts personnel to prepare useful and accurate financial reports it has
developed a standardized financial recording system that will help to ensure the
correctly, timely and regular basis financial reporting. The purpose of
introducing the accounting manual is:
To ensure the over all coverage of the requirements of the NSC / ACC / ICC
(if they required);
To ensure the full coverage of taxation aspects of the Board as per the rules
& regulations of the Income Tax Ordinance 1984 and VAT Act 1991;
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f) Reliable information for report purposes, which will serve the requirement of
GOB, Bangladesh Cricket Board Internal Management, Donors, Internal Audit,
External Audit, Investigation, Assessment, Review and for any purposes.
A - Accounting Requirements:
B - Auditing Requirements:
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The broad aim of Bangladesh Cricket Boards audit is to safeguard the interest
of the GOB / Donor Agencies / other related bodies and Bangladesh Cricket
Board itself and promote transparency and accountability, along with sound
economic and financial management practices across the Bangladesh Cricket
Board. Towards that broad aim, the objectives of auditing are to give an
independent assessment of:
Whether the financial statements shows a true and fair view of the financial
position of the Bangladesh Cricket Board and its income and expenditures for
the year in question and have been properly prepared in accordance with
appropriate rules and regulations and following the international accounting
standards;
The adequacy of the Bangladesh Cricket Board's arrangements to secure
economy, efficiency and effectiveness in the use of the resources;
The adequacy of the Bangladesh Cricket Board's financial management
systems;
The adequacy of the Bangladesh Cricket Board's arrangements for
preventing and detecting fraud, corruption and the internal control
framework generally;
The adequacy of the Bangladesh Cricket Board's arrangements for ensuring
the legality of transactions that might have a financial consequence;
The adequacy of the Bangladesh Cricket Board's arrangements for collecting,
collating and recording accounting data and publishing financial statements
and reports pursuant to appropriate rules and regulations and as per
internationally accepted standards.
a. In Management Office
Chief Financial Officer will be in charge of the Finance & Accounts Department
of the Management Office who remains directly responsible to the Chief
Executive Officer for all financial and accounting functions & activities of
Management Office and Unit offices.
b. In Unit Offices
Unit Manager will be in charge of the Finance & Accounts functions who
remains directly responsible to the Chief Financial Officer for the financial and
accounting functions & activities of Unit offices.
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Bangladesh Cricket Board shall use July to June as their accounting year.
Bangladesh Cricket Board shall maintain all books of accounts based on the
following requirements, guidelines, instructions, rules and regulations as per
the:
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CHAPTER - 2
ACCOUNTING POLICIES
8.00- Basis of Accounting:
As such accrual basis of accounting is being pursued. The Board shall apply,
adopt, follow and implement the guidelines / instructions of the International
Accounting Standards (IASs) for all purposes of accounting.
The Finance & Accounts Department will ensure the authenticity & recording
for all payments and also responsible for recording of all receipts on time. It
supervises the effective implementation of the internal control devices & assist
the management in attaining financial management.
Any staff member of Bangladesh Cricket Board who signs or countersigns in any
primary documents, books of original entries, books of final entries and
reporting etc. is personally, officially and professionally responsible for their
completeness, correctness & for the facts as stated there-in so far as it is his /
her duty to know or to extent to which he / she may be responsible or expected
to be aware of them.
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Four considerations shall govern the selection and application of the appropriate
accounting policies and the preparation of the financial statements of
Bangladesh Cricket Board. These are:
I. Prudence -
III. Materiality -
Financial statements of B.C.B shall disclose all items which are material
enough to effect evaluation or decisions.
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IV. Neutrality -
All activities included in the accounts shall be continuing in nature that is the
financial statements prepared on going concern basis;
Financial transactions shall be accounted for and presented in accordance
with their substance and financial reality and not merely with their legal
form;
Fixed assets valuation bases used for determining the amounts at which
depreciable assets shall be stated in the financial statements;
The component of cost is purchase price plus all other costs of bringing the
asset to its present condition and location.
(a) Land: Land is recorded at the price paid for the land. The other expenses
for acquiring the land are added to the cost. The other expenses are: Stamp
fees, Registration fees, Government tax, Legal fees and other related
expenses.
(b) Building: Valued at cost plus all other relevant expenses up to the point
of bringing it to the usable condition. It is recorded at the amount of cash or
cash equivalents. The building is shown in the balance sheet at cost less
accumulated depreciation. The following costs are considered: (i) - The cost
of floating tender for selecting - Designer, Contractor, Personnel, Material
etc. (ii) - Material costs; (iii) - Labor cost; (iv) - Consultants fee; (v) - Design
fee; (vi) - Supervision; (vii) - Guard; (viii) - Utility cost; (ix) Other related
costs.
(d) Motor Vehicles: Shown in the balance sheet at cost less accumulated
depreciation. The other related expenses are added to the cost for making it
road worthly. Among the other costs that can be recognized over its purchase
price are the following: (i) - Registration cost; (ii) - First time checking and
inspecting expenses.
(e) Furniture and fixture: Are recorded at the amount of cash or cash
equivalents paid or the fair value of the consideration given to acquire them
at the time of their acquisition. These are shown at cost less accumulated
depreciation in the balance sheet.
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Depreciation for the period shall be charged to income statement for the
period;
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Gym. Equipment 20
Air Cooler 10
Equipment 20
Computer 15
Printer 15
Notice Board 10
Display Item 10
Television 15
Office Decoration 20
Office Building 10
Electric Installation 15
UPS 15
Scanner 15
Fan 10
Fridge 20
Photocopier 15
Wall Clock 30
Speaker 15
IPS 15
DVD 15
Telephone Set 20
FAX 15
Micro Oven 15
Vehicles 20
Movie Camera 20
Projector 20
Software 20
Mobile Phone Set 20
Bill Board 10
Gallery Chair 10
Other Assets Depreciation Rate
implements depend on
nature of Fixed Assets
Soft Assets (Mattress, Carpet, 30
Cushion etc.)
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viii) Taxation:
A. Income Tax:
At present, BCB has been entitled to tax exempted from Income Tax as per
SRO No. 298-Law/2000 as National Sports Federation.
BCB has been completed the assessment activities in favor of foreigners but
income tax shall be paid by the foreigners as per their agreement. If
foreigner income tax is paid by BCB then it shall be approved by Executive
Committee / Working Committee.
BCB should be deducted the Income tax at source and deposited in
Government Treasury in due time as per Income Tax Ordinance-1984.
BCB shall pay the VAT with maintaining a current account on their revenue
as Sports Organization Institute, SRO-047 as per VAT Act. 1991.
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BCB shall deduct the VAT at source and deposited in Government Treasury in
due time as per Value Added Tax (VAT) Act. 1991.
The origin of the capital fund is the receipts of Sale of television rights,
Sponsor ship rights, Sale of tickets, ICC/ACC Championship Money, Local
broadcasting revenue, Sale of wastage; National League participation money,
Investment income etc..
The accretion of capital fund shall be the transfer of each years' surplus of
income over expenditures of Bangladesh Cricket Board;
All expenses shall be accounted for on accrual basis. Under the accrual basis
of accounting, transactions and events shall be recognized when they occur
(and not as cash or its equivalent is paid) and shall be recorded in the
accounting records and reported in the financial statements of the periods to
which they relate. Expenses shall be recognized in the income statement on
the basis of a direct association between the costs incurred and the earning
of specific items of income (matching).
Materiality depends on the size and nature of the item judged in the
particular circumstances of its omission. In deciding whether an item or an
aggregate of items is material, the nature and the size of the item shall be
evaluated together. Depending on the circumstances, either the nature or the
size of the item could be the determining factor. For example, individual
assets with the same nature and function shall be aggregated even if the
individual amounts are large. Large items which in nature or function shall
be presented separately.
xii) Offsetting:
Bangladesh Cricket Board's assets and liabilities shall not be offset except
when offsetting is required or permitted by any International Accounting
Standard.
Items of income & expenditure shall be setoff when an International
Accounting Standard requires or permitted.
It is important that both assets and liabilities, and income and expenses,
when material are reported separately. Offsetting in either income statement
or balance sheet, except when offsetting reflects the substance of the
transaction or event detracts from the ability of users to understand the
transactions undertaken and to assess the future cash flows of the Board. The
reporting of assets net of valuation allowances for example doubtful debts
allowances on receivables is not offsetting.
11.00 - Currencies:
All Bangladesh Cricket Board's assets, liabilities, capital fund, income and
expenditure are denominated in terms of the Taka, the local currency;
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a) Going Concern:
b) Consistency:
BCB shall prepare its financial statements, except for cash flows information,
under the accrual basis of accounting.
1) Understandability;
2) Relevance;
3) Reliability;
4) Faithful presentation;
5) Substance over form;
6) Neutrality;
7) Prudence;
8) Completeness;
9) Comparability.
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Accounting office shall close the accounts at the last transaction day of the
month. This closing of the accounts includes:
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Activity Chart of the total financial accounting system of the Board has been
outlined as below:
ACTIVITY CHART
Activity Documentation
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Financial Transactions
Bank Journal
Subsidiary Ledger
Trial Balance
CHAPTER-3
BUDGET AND BUDGETARY CONTROL
21.00 - INTRODUCTION:
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Estimates of Revenue
Estimates of Recurrent Expenditure
Estimates of Capital Expenditure
Cadres
A Statement of projected Income and Expenditure
A Cash Flow Statement
A projected Balance Sheet
ICC calendar for the year of budget
Venues for ICC matches to be played in Bangladesh
Budget Review Committee / Finance Committee will review and finalize the
budget. After finalization, budget will be placed in the Executive Committee
Meeting for approval.
The Executive Committee will approve the budget by 30th June in a special
budget meeting and it will be placed in the Annual General Meeting for post
facto approval.
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The Annual budget is prepared for one year from July to June. Budget should be
submitted by the all Standing Committee, Sub-Committee and Departmental
Head (where applicable) within mid-April to CFO. CFO will submit the
consolidated budget with analysis and recommendation of CEO to the Budget
Review Committee / Finance Committee within 30th May. After scrutiny and
finalization of the budget, the Budget Review Committee / Finance Committee
will place the budget within 30th June in the Executive Committee Meeting for
approval. After Executive Committee approval the budget will be placed before
the AGM for post facto approval.
After finalization and approval of the budget the relevant portion of the budget
will be given to the respective committee / Department.
Format of budget:
From the functional point of view, a system of Budgetary Control will serve the
purpose of Planning, Coordination and Control. The objectives of the budgetary
control are detailed below:
Combining the ideas of all levels of management in the preparation of
different functional budget
Coordinating all the activities of a program and organization
Helping to centralize control and de-centralize responsibilities
Planning and controlling income and expenditure to determine organizational
needs
Acting as a guide for management decisions
Providing a yardstick against which actual results are compared
A tool helping to point out the areas where management action is required
BCB Finance Department shall closely control and monitor the budget with the
actual results on quarterly basis. At all levels of BCB, the persons concerned
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The Budget shall be closely monitored by the Finance Department of BCB, who
are responsible for preparation of monthly Financial Statement, Variance Report
showing Budget VS Actual amounts and reasons for major variances. The CFO
will oversee the budget monitoring/controlling process.
There will be a flexibility of 10% in any particular line item, for which no prior
approval will be required, provided that the actual total expenditure in all line
items does not exceed the total budget. However, such flexibility is not to be
considered as a budget revision, and the actual excess expenditure, of any, will
need to be shown as an adverse variance against the original budget.
Transfer of funds from one budget line to another shall in no case exceed 10% of
the amount actually budgeted.
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Before release of the fund as per agreed terms and conditions and time frame,
all Standing Committee, Sub-Committee and Departmental Head (where
applicable) shall submit their fund requisition with recommendation of the CEO
to the BCB finance committee on quarterly basis. On receipt of the fund
requisition, the finance committee shall release the funds based on the approved
work plan and estimated budget requirements for a period of 3 months. Before
submission of the next quarterly requisition an expenditure report along with
supporting documents of the previous requisitioned amount will have to be
submitted to the Finance Division. Either the Chairman of the respective
committee or any other person authorized by the committee will deal with all
financial matters.
CHAPTER 4
BOOKS OF ACCOUNTS
30.00 - Introduction:
In general, the following accounting forms and recording books could possibly
be kept and maintained by Bangladesh Cricket Board. These accounting forms
and recording books would be used for documentation of various records,
analysis and interpretation of daily financial transactions of Bangladesh Cricket
Board in terms of cash and accrual basis. Utilities and characteristics of
different forms and recording books are described here in details for smooth
functioning of processing the every day financial transactions of Bangladesh
Cricket Board Management Office and its Unit Offices in systematically.
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Cash debit journal will be recorded on the expenditure / payments side and cash
credit journal will be recorded on the receipt side of the cash journal register
strictly chronologically. Cash journal register must be balanced after daily
operations are being completed.
After balancing the cash journal, the balance amount will be physically verified
and there after both accounts officer and cashier will put their signatures
acknowledging the above balance as found correct. Thus, it is the primary and
main book of the Bangladesh Cricket Board that will give an accurate picture of
the cash item transactions in a particular time.
After balancing the Bank journal Register, the respective bank account will be
reconciled with Bank statement.
The control general ledger is the control book to summarize all financial
transactions (cash items and non-cash items transactions) of Bangladesh Cricket
Board in accounts head and accounts code wise for easy preparation of financial
statements. Recording of all the daily income and expenses transactions will be
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made in the control general ledger through computer. All transactions in cash
journal register and through journal vouchers will have to be recorded in control
general ledger under different accounting heads and codes.
Bank reconciliation statement should be prepared by the tenth (10) day of the
following month.
Appropriate reconciliation would also be required for bank charges, which are
generally accounted for only on receipt of bank statements.
The official designated for verification should review the completed bank
reconciliation statement very carefully on regular interval.
BCB will also use the following formats in the prescribed forms designed in
connection with recording, posting, documenting, as evidences, finalizing all
financial transactions and preparing & presenting financial statements of
Bangladesh Cricket Board:
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Erasure and overwriting of entries once made in the Cash journal register, Bank
journal register, ledgers and other registers are strictly prohibited. If a mistake
is discovered, drawing the pen through the incorrect entry and inserting the
correct one in between the lines should correct it. Every such correction should
be attested by the officer / cashier / AMF with his dated initials.
43.00 Conclusion:
Eraser, vanishing liquid / fluid should never be used to rectify a wrong entry.
Data transferred from certain column or space of original source will have to be
recorded in the respective column or page of the register.
The books of accounts / records shall be maintained strictly as per the Chart of
Accounts and other codes to facilitate generating any financial information on
demand with every detail. The designed system shall ensure the facility of
coding and de-coding financial data / information.
Documents include Bills / Invoice / Cash Memos / Money Receipts given by the
Vendors / Shop keepers / Suppliers / Contractors / Service Providers / the
Vendors / Shop keepers / Suppliers / Contractors / Service Providers /
Employees etc.
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Bangladesh Cricket Board Financial &
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All payment vouchers, receipt vouchers, journal vouchers, money receipts, debit
notes, credit notes and invoices must be printed and sequentially numbered. All
these printed vouchers / documents must be used chronologically in order to
keep track of any missing vouchers / documents.
Any printed voucher / documents becoming unusable for any reason shall be
crossed out and marked as VOIDED and shall be kept with the voucher file.
All unpaid vouchers / Bills / Invoices / Cash Memos should be kept in a separate
file.
Monthly Reports:
For every Fixed Deposit and other deposits (both short term and long term) at
the end of each month a report should be generated showing the principal,
accrued interest, etc. All refundable deposits, invoices should be kept
systematically in a separate file. All Fixed Deposits and other deposits (both
short term and long term) certificates must be kept under the safe custody of
the Finance Manager. A separate Register should be maintained for the Fixed
Deposits and other deposits (both short term and long term)
Journal Vouchers should be used for accounting for Receivable, Payable and
Accrued expenses. For all types of Receivable, payable and Accrued Expenses,
monthly statements showing all the transactions should be generated. At the
end of each year, direct confirmations should be sent for the Receivables and
payables. All invoices / bills received, irrespective of whether paid or not must
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be kept with the Journal Voucher and if not accounted for in separate files. BCB
must ensure that payments are made within the credit period.
Every after 6 (six) months balance confirmation letters should be sent to the
debtors / creditors for the receivable / payables as shown in the accounts. If
there are differences with the debtor / creditors the matter must be reconciled
immediately. Each advance, debtor and creditor account should be reconciled on
monthly basis to the ledger account. Break up of the each closing balance
should be readily available.
Taxes:
Tax should be deducted at source from all applicable payments as per the Tax
Rules as and when indirect taxes are paid it should be accounted for in the
books of account.
BCB should withhold tax from rental of moveable property paid to a non-
resident person with exemption of offshore banks or offshore companies
carrying out leasing business.
Stamp Duties:
BCB must ensure that Stamp Duties are paid as per government rules.
BCB CFO should regularly obtain exchange rate of US $ with the Local
Currency and preserve it. Only these exchange rates can be used for translation
purposes.
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CHAPTER 5
WRITING PROCEDURE OF FORMS, VOUCHERS &
RECORDING BOOKS
At first, mention project / fund name for which the concerned cash journal
will be prepared;
Accounts head and code from the chart of accounts has to be clearly specified
in the voucher format for both debit and credit sides. Other wise,
summarization of ledger is not accurately possible in computer software.
Finally, cash journal will be printed out in hardcopy, signed by the prepared
by, checked by and approved by.
At first, mention project / fund name for which the concerned Bank journal
will be prepared;
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Mode of payment will have to be mentioned. i.e. cheque or Bank debit advice
or T.T in payment voucher.
It is compulsory to write down the cheque number for better internal control
over bank payments and receipts;
Accounts head and code from the chart of accounts has to be clearly specified
in the voucher format for both debit and credit sides. Other wise,
summarization of ledger is not accurately possible in computer software.
Finally, Bank journal will be printed out in hardcopy, signed by the prepared
by, checked by and approved by.
The Bank Journal should be authorized through Expenditure Note Sheet, which
will be mentioned the description of the nature of expenditure, VAT at source
and TDS amount and shown the option of authorized personnel. Only duly
approved and authorized vouchers can be posted to the books of accounts.
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First point is that to note the fund name for which journal has been prepared;
Finally, journal voucher will be signed by who prepared it and checked it and
then placed to Chief of Finance / Accounts for final approval.
First point is that to note the fund particulars for which sale voucher has
been prepared;
Then, put the Revenue voucher number in the format;
Date of preparation of Revenue voucher is compulsory to write down;
Accounts head and accounts codes from chart of accounts to be accurately
mentioned in the Revenue voucher form with debit and credit amount. Then,
both the sides should be totaled.
For implementation of better internal check system it is compulsory to write
up the Taka amount in figure and in words correctly in the journal voucher
format.
In narration column, the causes of making the Revenue voucher will be
highlighted in details giving references.
Finally, Revenue voucher will be signed by who prepared it and checked it
and then placed to Chief Financial Officer (CFO) for final approval.
Posting of Revenue transactions in ledgers should be clearly earmarked by
putting the YES or NO with date of posting in Revenue voucher format.
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Cash Journal both debit and credit shall be posted in the Cash Journal
Register that is a computer software generated format.
Finally, cash journal register will be printed out in hardcopy & to check the
following by a responsible official:
At first, check the dates of the cash journal register. This will be the
date of debit and credit journals and sequence of writing up the date
should always be maintained accurately.
Then, voucher number from cash journal of debit and credit shall be
written so correctly to attain the goal of internal check and control.
Then, check the Taka amount separately for cash payment and receipt
in cash journal register.
Finally, accounts personnel will sign cash journal register after detail
checking and verification of vouchers posting & balancing with the close of
every day's recording.
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Computer generated Bank journal register has two sides for recording of
bank journals
Bank Journal both debit and credit shall be posted in the Bank Journal
Register that is a computer software generated format.
Finally, Bank journal register will be printed out in hardcopy & to check the
following by a responsible official:
At first, check the dates of the Bank journal register. This will be
the date of debit and credit journals and sequence of writing up
the date should always be maintained accurately.
Then, voucher number from bank journal of debit and credit shall
be written so correctly to attain the goal of internal check and
control.
Then, check the Taka amount separately for bank payment and
receipt in bank journal register.
After balancing the Bank journal Register, the respective bank account will be
reconciled with Bank statement.
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Finally, cash journal register & journal voucher register will be printed out in
hardcopy and to check the following by a designated B.C.B official:
Check the correct date from cash journal and journal vouchers.
Finally, marking of debit and credit balances accurately and signed the cash
journal register and journal voucher register that these have been checked.
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CHAPTER 6
MAINTENANCE OF REGISTERS
All fixed assets acquired / disposed off shall be recorded as per Fixed Assets
Register format. A separate folio or set of folios shall be opened for each asset
group. All fixed assets on hand shall be recorded in the fixed assets register
individually. The register shall be kept up to date at all times and balanced at
the end of each month by the Bangladesh Cricket Board Management Office and
its Unit Offices.
The fixed assets shall be physically verified at the end of each year and results
should be reconciled with the fixed assets register and short / excess, if any,
should be adjusted in the books of accounts and Fixed Assets Register with the
approval of the competent authority of Bangladesh Cricket Board. Sold,
disposed off and damaged asset must be recorded in the appropriate column of
the Register. Depreciation on fixed assets will be recorded in the fixed assets
register in appropriate column.
Bangladesh Cricket Board Management Office and its Unit Office shall maintain
a register for payment of monthly salaries to the staff members. All employees
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Stock & Store Register shall be maintained for all materials purchased -
whether for works or for store or for sale. A separate folio or set of folios shall
be opened for each stock & store group. All stock & store items placed in store
or issued out of stock & store should be recorded in the stock & store register
individually. Store register to be recorded systematically all detail information
(opening quantity, purchases/received quantity, issue quantity, returns quantity,
balance quantity, unit rate and value) to the need of management for all related
purposes. The register shall be duly checked on regular basis and signed by the
Admin Department responsible for this purpose. All stock & store items in store
shall be inventoried at June 30 each year positively. All types of stock & store
register shall be up-to-date at all times and balanced at the end of each month.
Store related documents (Challan, GRN, Issue Slip etc.) should be maintained in
a separate file.
There are two types of stock & store items are maintained in Bangladesh
Cricket Board. One type is Printing & Stationery items and another type is
Sports Goods (Cricket Balls, Bat, Caps, Trouser etc.). For maintaining Printing &
Stationery stock, a store register should be maintained in Management Office
and its unit offices. Stores register also to be maintained for Sports Goods in
Management Office. Goods should be delivered to the store department along
with challan by the supplier and the storekeeper should physically check goods
with challan and put his seal, sign and store register folio page number on the
challan. If store keeper does not find the goods according to Work Order or finds
low quality goods then he notices to respective department / committee about
this and the department / committee should take necessary action for this. The
store keeper should use the Goods Received Note (GRN) for receiving of the
goods. After this store keeper should send the challan to the respective
Department / Committee. Store keeper should use the Issue Slip for issuing
goods and take signature of the goods receiver on the Issue Slip.
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CHAPTER 7
FINANCE & ACCOUNTS ACTIVITIES
Bangladesh Cricket Board finance and accounts activities can be subdivided into
five main specialized ways for the sake of better handling of its entire operations
/ functions VIZ:
a) Handling of cash floats All receipts and payments by cash and bank
accounts;
b) Payment of various expense bills in cash or in cheque after proper
examination of these bills;
c) To exercise control over all banking transactions;
d) Withdrawal of necessary amount of cash from banks to carry out daily
cash transactions;
e) Preparation of cash requisition statement on need basis;
f) Proper, accurate and up dated writing of cash book (Cash Scroll Book) and
daily balancing;
g) Proper, accurate and up dated writing of Bank Book (Bank Journal
Register) and month end balancing;
h) Reconciliation of cash balance with physical balance of cash;
i) Preparation of IOU slip and file the duplicate for control and internal
cheek;
j) Preparation & checking of advance forms and their reporting;
k) Debit & credit vouchers preparation through cash journal only the
approved ones;
l) Debit & credit vouchers preparation through bank journal only the
approved ones;
m) Preparation of cash & bank payments and receipts summary as per
accounts heads and code on monthly basis;
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a) Preparation, checking and verification of Journal vouchers for all non cash
transactions;
b) Posting of approved journal vouchers (non-cash) in computer accounting
software daily;
c) Posting of all cash transactions through cash-journal in Cash Journal
Register daily;
d) Posting of all bank transactions through bank-journal in Cash Journal
Register daily;
e) Properly and accurate posting and balancing of all types of registers and
sub - subsidiary registers on a timely basis;
f) Maintenance of more than one fixed assets register for better control;
g) Posting and balancing of fixed assets register.
h) Depreciation calculations of all fixed and other assets which are
depreciable assets;
i) Preparation of fixed assets schedules showing their depreciation and
written down value;
j) Preparation of Trial Balance;
k) Preparation of Income Statements.
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a) Budget and budgeting functions preparation of budgets for new and all
existing offices;
b) Collection of information & data in connection with formulation of budget;
c) Processing, editing & reviewing the collecting information and data in
connection with formulation of budget;
d) Setting of standards in relation to the formulation of budget;
e) Formulation of budget;
f) Maintenance of budget registers in all offices as per requirements;
g) Preparation of budget monitoring statements;
h) Preparation of variance statements;
i) Analysis of variances;
j) Assessment of actual results with the budgeted ones and if any deviation
found, then to pinpoint the actual causes;
k) To take necessary steps to eradicate or minimize this deviation in future
through more realistic budget preparation and / or better performance;
l) To give necessary guidelines & advice in order to rectify those
anomalies/mistakes that have been pinpointed by the internal auditors in
their periodic audit reports;
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CHAPTER 8
CASH TRANSACTION
In order to complete writing of Cash Scroll Books and their posting in the Cash
Journal Register through computer, daily cash transactions shall be closed at
least two hours before the close of the office.
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Each day, all cash receipts & payments shall be entered into the Cash Journal
Register and it should be closed daily. Cash Officer (F&A) shall check and verify
the cash balance and Cash Journal Register at the end of each day and duly
signed. Manager (F&A) and CFO will verify the cash balance and verify the Cash
Journal Register at the end of each month and signed duly.
The management may prescribe money limits for cash in hand in the
Management Office. When such limits are prescribed, cash in hand must not
exceed that limit.
Only cash officer (F&A) and Assistant Manager Finance (AMF) jointly shall be
responsible to hold liquid cash. Cash shall be drawn from bank to meet the daily
cash expenses. Requirement of cash shall be intimated through Money
Requisition. When the requisition of cash approved then breakup of previous
expenditure shall be approved at that time by the CEO and CFO. Such
requisition shall be received by accounts at least five hours before the closing of
banking hour. Required cash may be drawn from the bank on requisition.
However, after disbursement & receipt the cash, cash officer (F&A) and
Assistant Manager Finance (AMF) jointly may hold liquid cash to the extent of
Taka Taka 150,000 (One hundred and fifty thousand).
Other than above, in no cases, the office liquid money will be in the hand of any
staff member of the Board unless other wise permitted by the management. The
adoption of the principle of transacting cash business through bank is to keep to
the minimum the actual cash handling in the cash section.
Office money should be kept in secured strong iron safe. The cash safe should
be double locked. One set of key shall be kept with the Cash Officer (F&A) and
the other set will remain with the Manager (F&A). Persons handing the cash
should be covered by insurance in addition to cash security to be provided by
them.
Cash Officer and Manager (F&A) who is responsible for the safe and security of
money must satisfy themselves that the iron safe is free from defects. If a defect
is detected or if there is even a doubt that the keys or their duplicates are
missing, immediately arrangement should be made for their replacement under
intimation to head of finance & accounts.
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Cash shall remain in the custody of finance and accounts department. At the end
of each day after making all transactions cashier, Cash Officer shall count the
cash physically and record on a cash count sheet and shall confirm the balance
with the Cash Journal Register balance. For cash scroll specific designed format
will be used.
While carrying office cash (liquid money) from the bank (for withdrawn
purposes) and to the bank (for deposition purposes), vehicles shall have to be
used and security guard shall have to be provided at its best level by the
management.
No money should be received from any person without issuing proper receipt /
cash memo which inter-alia will state the name of person from whom it has been
received, amount both in figure and words, purposes for which it has been
received etc.
The money receipt / cash memo should be in the prescribed form. These forms
shall be printed in number, bound book forms, kept in safe custody and properly
accounted-for.
Normally cashier shall receive the cash by giving money receipt duly signed by
Cash Officer (F&A). The receipt will be prepared in triplicate, the original will
be issued to the depositor, the duplicate copy will be kept with voucher &
triplicate copy will be retained for record and audit verification.
Petty cash will be maintained on imprest system with a limit of Taka 150,000
(One hundred and fifty thousand) only. Each IOU slip should be adjusted within
four seven (7) working days and any advances within fifteen (15) days after
completion of the events or assignment.
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At the time of adjustment of advance all backup documents like Bills I Invoices I
Cash Memos I Money Receipts given by the Vendors I Shop keepers I Suppliers
I Contractors I Service Providers I Employees should be received by the
concerned cashier.
The cashier & Cash Officer jointly shall maintain the imprest fund for
Bangladesh Cricket Board Management Office in Dhaka to take care of the petty
cash expenses. The limit of amount for each transaction will be Taka 10,000 (Ten
thousand) only with approval of CFO.
Under special circumstances the amount may be increased upto Taka 20,000
with approval from the Chief Executive Officer (CEO).
A Petty Cash book will be maintained for the Petty Cash management and the
Petty Cash Book must be kept updated.
At the end of each month Petty Cash must be physically verified by a responsible
officer.
The cashier, cash officer and Manager (F&A) will make sure of the deposition of
the cash collected daily into bank and record the transaction immediately in the
Cash Journal Register.
The Cash Officer will prepare the pay-in slip. The Manager (F&A) and Chief of
F&A will make best arrangement to send the money in the bank.
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BANK TRANSACTION
88.00 General:
All funds (received) shall be deposited into the Bangladesh Cricket Board's
accounts with the bankers of the Bangladesh Cricket Board and shall not be
withdrawn except by cheque signed by allowed personnel (as per Delegation of
Financial Authorities). All receipts of money through cheque / draft / pay
order / transfer advice, bank account shall be debited and relevant source /
liability / income account is credited. Cheque / Draft / Pay order shall be
deposited into bank through deposit slip of the bank. General financial policy of
Bangladesh Cricket Board is to encourage receipts and payments through bank.
The bank accounts of Bangladesh Cricket Board shall be opened with the
approval of Executive Committee.
All bank accounts will be in the name of the Bangladesh Cricket Board.
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Bangladesh Cricket Board shall open Unit Office bank accounts in any scheduled
bank in the Unit Office areas separately after taking resolution by the Executive
Committee of Bangladesh Cricket Board.
Fund transfer will be made by Management Office only after receiving the fund
requisition request and monthly expenditure from unit office statement and its
approval by the person as per the delegated authority of Bangladesh Cricket
Board Management Office. Bank account may be opened which shall be interest
bearing unless otherwise specified by Management Office.
President has the authority to make any changes, amendments in the bank
signatory powers with the consent of the Executive Committee of Bangladesh
Cricket Board.
Details of cheque signatories for operating the bank accounts will be kept
confidentially in Finance and Accounts Department under safe custody. It
includes name, designation, specimen signature and initials, validity date. When
signatories are included / deleted, list should be placed to substitute previous
one.
If any cheque is issued but not presented for collection by the payee within six
months from the date of issue, the cheque shall be automatically canceled.
Accordingly, the finance and accounts department shall give reversal entry in
the Bank Book and keep a note in the bank reconciliation statement. Any loss or
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theft of the cheque / cheque book must be informed to the concerned bank
management at earliest possible time.
The word "CANCELED" shall be written in the counterfoil as well as on the face
of the cheque when a cheque is required to be canceled.
Cheque Issue Register shall be maintained for each bank account separately in a
book in the prescribed manner and shall be updated always on daily basis and
counter signed by the competent authority of Bangladesh Cricket Board.
Any payment exceeding Taka 10,000 (Ten thousand) shall preferably be made
through an account payee cheque and payment less than Taka 10,000 (Ten
thousand) may be made by cash from the cash in hand in Management Office
level and unit office level.
For withdrawal of money (liquid cash) from the bank account for working cash
or for any operational expenses, a requisition for fund must be prepared for
approval in accordance with the delegated authority and withdrawal of cash
from bank shall be in accordance with the guidelines of "Delegation of Financial
Authority". When cash to be withdrawn, cash cheques should denote "Account
Payee Cancelled".
Accounts personnel shall always keep in mind that the maximum closing cash
balance in hand should not exceed Taka 150,000 (One hundred and fifty
thousand) after the day transaction in Bangladesh Cricket Board Management
Office and Taka 10,000 in Unit Offices.
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After receiving the monthly bank statement, the bank balance shown in that
statement as of last day of the month must be reconciled with the balance
shown in the Bank Journal Register on the same day by preparing a bank
reconciliation statement.
The bank charge or interest detected to be not incorporated earlier in the Bank
Journal Register should be entered in the Bank Journal Register by preparing a
voucher to this effect.
Any deposit / interest, payment or cheques not recorded in the bank accounts or
bank statement shall be reconciled by adding or deducting from the closing
balance as shown by the bank statement.
A reversal entry should be processed for canceling the cheque issue entry if the
cheque is found not presented within its validity period. Any difference should
be thoroughly checked and investigated with the bank.
Respective Cash Officer with the approval Chief Executive Officer (CEO) and Chief
Financial Officer (CFO) shall initiate for ordering new cheque book on reaching the
Cheque book order leaf.
While receiving new cheque book from bank respective Cash Officer (F&A) shall
count the cheque leaf and satisfy himself that the numbers of cheque leaves are
found in order.
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A certificate of receipt quoting the number and the date of cheque tendered or a
receipt with the following remarks may be given:
Delay in deposit involves question of safety and security and sometimes may
result in non-realization of the amount of the cheque.
In the event of cheques being dishonored by the bank on presentation, the fact
mentioning the causes of dishonor should be reported at once to the drawer of
the cheque with demand for immediate payment and mean while the entry in
the books of accounts should be reversed.
If a cheque is reported lost, contact should at once be made with the bank on
which the cheque was drawn. The bank should be informed / instructed to stop
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payment on that cheque. The fact should be reported to the respective Police
Station.
Fresh cheque may be issued only after obtaining non-payment certificate from
the bank.
FUND MANAGEMENT
BCB must issue a money receipt at the time of receipt of the money (cash /
cheque / pay order / demand draft) from whatever source. Every single
collection must be deposited with the finance department on the same day of
receipt. Finance department shall deposit all collection to the nominated bank
account on the following day. The finance department shall immediately update
the system for all such funds received and enter in the books of accounts on the
same day.
111.00 - INVESTMENTS:
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112.00 - LOAN:
BCB may take loans from different sources with prior approval of the Executive
Committee / Working Committee. No loan can be received in cash; all loans
must be received directly through the bank account. No loan can be created by
a book entry.
113.00 - ADVANCE:
Advances should be adjusted with in fifteen (15) working days after execution of
the event or assignment or travel etc.
At the time of adjustment of advance all backup documents like Bills I Invoices I
Cash Memos I Money Receipts given by the Vendors I Shop keepers I Suppliers
I Contractors I Service Providers I Employees should be received by the BCB.
All expenses should be charged against appropriate account heads as per the
Chart of Accounts.
For all sales of commercial rights ie TV rights and Sponsorship, competition will
be encouraged. Following will be the procedure of sale of commercial rights ie
TV rights and Sponsorship:
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Step-3: Chairman Tender & Purchase Committee and CFO will present
the quotations to the Finance Committee with competitive analysis.
Finance Committee will select the highest bidder and present to the
Executive Committee / Working Committee for approval.
Other income:
Income, which cannot be classified under any of the above groups, shall be
treated as other income & entered in the receipt side of the Cash Journal
Register or Bank Journal Register (depend on cash or bank transaction).
Interest on FDR is short term investment, which will be account for accrual
basis with applying interest rate and number of days invested out of matured
duration at that end of period. Bank interest earned on Savings account, sale of
waste & scraps materials are to be treated as other income.
Invoice Preparation:
B.C.B should prepare an invoice and send to the third parties in due time as per
agreement for collection of the Sale of television rights, Sponsor ship rights,
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Money Receipts / Cash Memo are to be prepared along with Invoice number and
issued to the concerned parties / customers on receipt of any fund and income
by the BCB. Money receipts / Cash memo must be pre-numbered.
Money Receipt shall be prepared in three (3) copies, original receipt goes to the
payer, the second copy will be attached with the credit voucher and third copy
will be in the file or reserve copy. Money receipt shall be checked and then place
it for recording the Cash Book and at the day end cash scroll is checked with
physical cash and duly signed by cashier/ cash officer, and then keep it in vault,
which is operated by joint custodian.
All receipts (cash, cheques, demand draft, pay order etc.) shall be deposited at
the earliest opportunity, in the bank by filling in the pay-in-slips, after due
verification and approval and then record it in the Cash Journal Register in the
computer through preparing cash journal - credit voucher.
All receipts, other than cash drawn from bank for payments, must be
deposited to bank intact preferably on the same day or positively on the
next morning;
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Credit voucher will be generated in the FMS that will be checked by the
Manager (F/A) and countersigned by Chief of F&A;
Credit Voucher is posted in the FMS in the computer at the day end;
Cash scroll will be checked with physical cash and signed by Cashier,
Officer (F&A) at the day end;
Mail will be opened at the reception by a responsible officer who will enter
the checks/drafts/pay order etc. and the Cheques/drafts/POs/DDs will be
handed over to Finance and Accounts Department;
He will check the reasons for dishonor and will put up the case in a file
that will go to the Chief of F&A via Manager (F&A);
Responsible accounts personnel will check the position daily and will follow
up the cases.
All procurement will be made as per BCBs procurement policy. Latest Trade
Licence, latest Tin Certificate and VAT Registration Certificate of each party
must be obtained with each quotation / News Paper Advertisement / Press
Conference Letter.
The respective department / committee prepare work order and send the
work order to the supplier and the supplier sends the goods to the store
according to work order. The store keeper shall count the goods physically
and checks with related challan. After confirming the goods, the store keeper
records the goods in the store register and puts his seal and signature on the
challan and puts store register page number behind the challan. The Store
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Keeper sends the challan along with goods to the respective department /
committee.
The supplier will submit the bill to the respective department / committee.
The respective department / committee shall check the bills quantity and
description with challan. After checking the bill, the respective department /
committee shall record the bill transaction in their Bill Register (Bill
Register, Ref. point 66) and prepare a department / committee Note
Sheet and attach the relevant documents (three spot quotations, work order,
approved budget copy, certified challan copy, approved bill copy ect.). The
department / committee Note Sheet should be approved by the departmental
head or Committee Chairman where applicable. The department / committee
shall forward the Note Sheet along with relevant documents to Accounts
Department for payment.
The Accounts Department shall check the bills accuracy and relevant
authenticated documents. The Accounts Department shall record the bill
transaction in their Control Bill Register (Bill Register, Ref. point 66)
and prepare an Expenditure Note Sheet for payment and send the same to
the Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chairman
Finance Committee and General Secretary for approval. The signature of
mentioned these persons must be obtained before payment. The VAT as per
VAT Act.-1991 and Tax deducted at source (TDS) as per Income Tax
Ordinance-1984 will be deducted at source from the bill at the time of
payment and is to be mentioned in the Expenditure Note Sheet. A suggested
Expenditure Note Sheet is given in Appendix D.
After approval, the Accounts Department will prepare the cheque. The
cheque will be signed as per Delegation of Financial Authorities.
These payments shall include daily allowances and traveling allowances for
inbound tours, tour fees for outbound tours and other tour expenses.
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Daily allowances and traveling allowances for inbound tours and the tour fees
for outbound tours shall be at the rates recommended by the Chief Executive
Officer and the Tour Organising Committee (TOC) and approved by the
Executive Committee.
On completion of the tour, the Venue Manager shall settle the advance
received with bills for expenses.
Invoices for BCB cricket expenses shall be received directly in the Tour
Organising Committee (TOC). TOC shall prepare a committee Note Sheet and
attach the relevant documents (three spot quotations, work order, approved
budget copy, certified challan copy, approved bill copy ect.). The committee
Note Sheet should be approved by the Committee Chairman. The committee
shall forward the Note Sheet along with relevant documents to Accounts
Department for payment. The accounts department shall prepare an
Expenditure Note Sheet and approved it by the competent authority. After
approval of the Expenditure Note, the Accounts Department shall pay direct
to the suppliers. TOC and accounts department should follow the procedures
of payments to suppliers and for services (mention in point 116.01
A).
The imprest given to the Team Manager for outbound tours shall depend on
the duration of the tournament and shall be decided by Chief Executive
Officer (CEO) and the Tour Organising Committee Chairman.
Team Manager shall prepare advance requisition form with comparing with
budget copy and approve by Chairman.
E. Payments to Umpires:
All expenses shall be comparing with budget and approve by Chairman.
When payment made for Match Fees, TA/DA and Accommodation of Match
Officials then related statement of Match Fees, TA/DA and Accommodation of
Match Officials shall be prepared by Umpires Manager according to
attendance as per Match Referee report and Match Score Card. A Committee
Note Sheet shall be prepared by Umpires Manager and approved by the
Chairman Umpires Committee. Umpires Manager shall forward the
Committee Note Sheet along with following documents to Accounts
Department for payment :
i. An approved list of Match Officials (category wise Umpire, Scorer, D/L
Manager, etc.). This list should be approved by the Executive
Committee.
ii. Approved Match Fees rate. Match Fees rate shall be approved by the
Executive Committee.
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iii. Approved TA/DA slab. TA/DA slab shall be approved by the Executive
Committee.
iv. Approved Accommodation rate. Accommodation rate shall be approved
by the Executive Committee.
v. Match Referee Report and Match Score Card;
vi. Approved Allotment letter. Allotment letter shall be approved by the
Chairman Umpires Committee. If any Match officials will replace then
amends the Allotment letter and payment should be made according to
amended allotment letter.
Where the payment made for Match Fees and TA/DA, Accounts Department
shall check the Payment Statement with related documents and prepare an
Expenditure Note Sheet and approved it by the competent authority. After
approval of the Expenditure Note, Accounts Department shall prepare
account payee cheque and sign it by the competent authority and pay to the
respective Umpire.
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The club participation fee shall be paid to all member clubs annually.
The Executive Committee shall decide rates for club participation fees each
year.
The club participation fee shall be comparing with budget.
Tour Organising Committee shall prepare a list of payable participation fees
and this list should be approved by Chairman Tour Organising Committee
and Chairman Cricket Committee of Dhaka Metropolice (CCDM).
Tour Organising Committee shall prepare a Committee Note Sheet and
forward to Accounts Department for payment.
Cricket Committee of Dhaka Metropolice (CCDM) and Tour Organising
Committee shall provide the Finance Department with a certified list of
participation fees payable to the clubs.
Players contracts shall for valid from March of one year to February of the
next year.
Cricket Operation Committee Manager shall prepare a players status report
according to players performance of various leagues and international
matches {Provision 162 (Gha) of BCB Constitution}. He shall prepare a
list of proposed contract players base on players status report and submit it
to Executive Committee for approval.
Executive Committee shall approve the list of proposed contract players and
also approve the rate of payment.
Rate of payment, other benefit and duration shall be stated in the contract.
Payments shall be made monthly and shall be at the end of the month or as
provided in the contract.
Cricket Operation Committee shall be responsible to prepare all types of
payment (Performance Bonus, Winning Bonus, Match Fees, TA/DA, Players
monthly salary, etc.) statement. Cricket Operation Committee Manager shall
prepared a Committee Note Sheet and forward to Accounts Department for
payment. Payment Statement and Committee Note Sheet must be approved
by the Chairman Cricket Operation Committee.
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J. Sponsorship Payment
Sponsorship payment shall be made to all players, the manager, coach and
the physiotherapist involved in a series during the period of sponsorship
agreement.
The payment shall be according to the rates specified in the contracts.
The Accounts Department shall ensure that these contracts are available in
the department and shall ensure that the certified payment is in accordance
with the contract.
The Chief Executive shall issue the certificate for payment.
At the end of a series for which the venue was Bangladesh, Accounts
Department shall receive instructions for payment from the Chief Executive
Officer.
Payments shall be made only when there are differences in the reciprocal
payments.
The Accounts Department shall then make arrangement with the bank at
which the FCBU account is held to effect a transfer.
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Accounting office shall issue transfer advise letter to the bank for total amount
of monthly salary payable to credit the individual account of each staff member
with the amount written against each individual.
The accounting offices shall maintain a salary register, which shall be prepared
every month.
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All the staff members working at different offices of Bangladesh Cricket Board
will be paid their salaries on or after the last working day of the month.
Before opening L/C with Scheduled Bank the department / committee shall
prepare a department / committee Note Sheet for payment of L/C value to the
Bank. The department / committee Note Sheet should be approved by the
departmental head or Committee Chairman where applicable. The
department / committee shall forward the Note Sheet along with relevant
documents to Accounts Department for payment.
BCB opens a L/C with Scheduled Bank. At the time of opening L/C all types of
documents should be filled up and submitted to the Bank. At the time of
submitting of the documents to the Bank, BCB to be deposited the prescribed
L/C Margin as per H.S Code. The Bank issues a Debit Advice for L/C Margin
amount to the BCB. Before opening L/C, BCB pays the Marine Insurance
premium.
After completion of the above work, the Scheduled Bank transmits the Letter
of Credit (L/C) to the supplier mentioned Bank. After transmission of the
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Letter of Credit (L/C), the Scheduled Bank sends a Letter of Credit (L/C) copy
to BCB. BCB directly communicates with the supplier for timely shipment
(time mentioned in the Letter of Credit -L/C copy).
At the time of Shipment, the supplier will inform BCB about the Shipment
Status (Name of Ship, Name of Ship Agent, Port of Loading, Port of
Destination, Target Date, ect.).
When the goods are shipped then the supplier will send a full set of
documents (Invoice Copy, Bill of Landing Copy, Weight and Packing List, Ship
Certificate, Foreign Chamber of Commerce Certificate, etc.) to the BCBs
Scheduled Bank and also sends soft copy by E-Mail or Fax copy by Fax to the
BCB. The original full sets of documents will be reached to the BCB within 15
days of the goods delivery. If the goods will be shipped by Air then goods will
be cleared from the Customs within 5 days. To avoid demurrage, certified the
full set of printed or Fax documents by the Scheduled Bank. If the goods will
be shipped by Vessel then the original full set of documents will be received
by the Buyer before goods reached. The Scheduled Bank will pay the balance
amount of the L/C to the Supplier mentioned Bank and give a Debit Advice to
the BCB. BCB will select Clearing & Forwarding Agent after collect three
spot quotations and send the above certified full set of documents (if goods
delivered by Air) / Original full set of documents to the C & F. The Clearing &
Forwarding Agent will release the goods after completion of the Customs
formalities. The Custom will assess goods value of the goods on the basis of
above set of documents and charge customs duty and recorded all in the Bill
of Entry.
The Goods will be delivered to BCB store department by the Clearing &
Forwarding Agent. The store keeper shall count the goods physically and
checks with related packing list. After confirming the goods, the store keeper
records the goods in the store register and puts his seal and signature on the
packing list and puts store register page number behind the it. The Store
Keeper sends the packing list along with goods to the respective
department / committee.
Clearing & Forwarding Agent will submit the bill of entry, invoice and any
other L/C related documents to the respective department / committee. The
C&F party will charge to BCB for his commission and settled custom amount.
After approval, the Accounts Department will prepare the cheque. The
cheque will be signed as per Delegation of Financial Authorities.
Checking
Coding
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CHEQUE PREPARATION
CHEQUE SIGNING
UNPRESENTED CHEQUES
Where the payee has not presented a BCB cheque for payment within 6
months from the date of issue, the following action should be taken.
Notify the bank in writing to stop payment of the particular cheque.
Issue a Dummy Receipt in order to clear the unpresented cheque in the Bank
book.
Approval of the Executive Committee shall be obtained writing back
expenses.
BATCHING:
Maximum up to Taka 10,000 can be paid from petty cash. All payments above
Taka 10,000 should preferably be made through cross cheque.
After the expenditure is incurred, the supporting are raised in the file;
The file is sent to the proper authority for payment approval;
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EXPENDITURE
I. Scope
This policy sets the mandatory "minimum" standards for travel and expenditure
management in the BCB, including all BCB staff and consultants and
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contractors.
a. General expenditure
Administrative expenditure
Development Program Activities expenditure
A. Revenue Expenditure:
a) Personnel
This comprises all expenditure relating to staff salary packages including salary,
allowances, motor vehicle expenditure, professional development and medical
insurance.
b) Office Expenditures
This comprises all items relating to office expenditure (location and day to day
running of the office) including rent, power and utilities, office maintenance and
cleaning, office insurance, repairs, telephone bill, computer accessories,
stationery and hospitality.
c) Tournaments
e. Meeting Expenditures
All costs relating to the staging of or attendance at meetings whether they are
regional meetings or national association meetings.
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All travel, accommodation and daily expenditures incurred when traveling for
Officials should include under this budget heading rather showing under other
headings.
g. Academy Visits
All costs associated with the placing the players in Academies should be
accounted under this heading.
i. Promotional Items
Merchandising and promotional items (memorabilia, gifts etc) that are produced
to assist with development, but not necessarily relating to any of the above
categories. Items in this category should be specific items that are plaimed in
advance.
j. Special Projects
Special Projects that are specifically planned and budgeted for in advance of the
financial year. These may be projects that do not exactly fit any of the above
categories or projects you wish to include here as they involve a large one time
expenditure. If any of these Special Projects is cancelled approval must be
sought to realign the budgeted funds to a new Special Project.
B. Capital Expenditure:
All expenditure that provides economic benefits for more than one year will be
treated as capital expenditure.
a. Cricket Equipment :
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All costs associated with purchase of cricket equipment including gear, balls,
score boards etc. All associated freight costs should also be included under this
head.
All costs involved in the purchase of artificial pitches, including freight. Also all
costs involved in upgrading pitches, outfields and pavilions.
The Expenditure process has been described in the Payment Procedure (Point
116).
A. Itemized Expenditures
Employees may group expenditures provided they are from the same
expenditure category and supplier (eg., car rental, phone bills, room charges for
multiple nights at the same hotel).
B. DOCUMENTATION
Air travel: Employees must book air travel through proper travel booking
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procedures.
Hotels: The hotel bill must always be attached for hotel stays regardless
of the expenditure.
C. SENIOR-RANKING EMPLOYEF/EXECUTIVES
The most senior ranking employee must handle shared expenditures. Attendees
are peers, then any of them may pay and request reimbursement.
D. TIMELY SUBMISSION
Late fees and interest charges: Late fees and interest charges on personal credit
cards will not be reimbursed.
I. Expenditure reports
Employees must use Approved Suppliers, where they are available, when
obtaining products and services. A list of approved suppliers should be
maintained at the BCB.
Departments may enter into separate contracts for products or services with a
supplier within the following guidelines.
The contract letter should describe the nature of the service, terms and
conditions, time limits and compensation (if default any party).
For contracts greater than one year in duration, the total value of the
contracts should be calculated over the lifetime of the contract, which should
not be greater than 3 years. No evergreen contracts without time limits are
allowed.
Unless otherwise stated in this manual, exceptions to any provision of this policy
require written approval from the Chief Executive Officer (CEO) as well as the
CFO of BCB.
A. TRAVEL RESERVATIONS
All Travel reservations and arrangements must be made through the approved
Travel Agency and the relevant staff members.
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B. AIR TRAVEL
All air travel will require documented approval from the immediate supervisor
(who must have the necessary delegated authority) prior to the trip. This
approval can be through e-mail. The staffs who handle the air travel requests,
should check the approval before confirming the bookings.
Travelers should book the lowest fare, which may include restricted fares and/
or non-refundable fares. Non-refundable tickets are normally reusable and can
be applied towards future travel with the same carrier within a certain period
from date of issue.
Class of Service
When business objectives and time allow, employees should be flexible in their
travel plans and book flights as early as possible to make use of advance
purchase airfares and other promotions
C. HOTEL ACCOMMODATION
BCB travel staff must be used for making hotel reservations where available.
When traveling, all staff should also check whether the host board can
organize accommodation as they can get local discounts and have knowledge
of appropriate places to stay etc.
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Non-Approved hotels may be used only when Approved Hotels are not
available in the particular city
Arrival should normally be the day before the meeting or the day of the
meeting where appropriate. BCB responsibility will normally cease on the
day the meeting concludes unless there is no suitable return flight in which
case the responsibility will cease the day after that.
Cancellations
D. RENTAL CARS
Travel Staff must be used for making car rental reservations where available.
Employees must rent cars from Approved Car Rental Companies only. Non-
Approved car rent companies may be used only where no cars are available
from Approved Car Rental Companies or if there are no Approved Car Rental
Companies at the location. The Executives /Staff hiring the car must ensure
that full insurance coverage is in effect.
Compact and intermediate cars are the approved car classes. A full size car
may be rented when four or more people will use the car or when business
needs require it.
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Cars may not be rented for a period of more than 2 weeks without the prior
approval of the Treasurer / CFO subject to Delegated Authority Limits.
E. PERSONAL VEHICLES
An employee who uses his/her vehicle for occasional business travel will be
reimbursed on a per-mile basis or one off payment with agreement of the
Finance Department.
F. TRAIN TRAVEL
All train travel will be in coach or second class. First-class travel, including Club
Class and Custom Class, is not permitted unless used by the Senior Executive
staff or overnight travel instead of a more expensive airline ticket.
No Laundry expenses are paid. This should be covered from the Service Rules.
Costs associated with passports that are maintained for business travel and
requisite visas will be reimbursed.
Meals with visiting executives / staffs from out of town will be reimbursed
provided there is an appropriate reason and these are approved by the
respective Department Head.
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INTERNAL
Internal conferences, meetings and training events for three or more people,
whether on BCB premises or offsite, where travel and/ or lodging expenditures
will be incurred by most participants must be pre-approved by the Delegation of
Authority attached to this Manual. As part of the pre-approval process, the
sponsoring department must provide an estimate for the total cost, including
airfare, hotel and group meal expenditure for all attendees.
EXTERNAL
M. MOBILE PHONES
Purchase, installation, monthly fee or loss of personal Mobile phones will not be
reimbursed.
All business mobile phones must be ordered through normal office procedures
and require the approval of the Delegation of Authority attached to this Manuel.
Employees must indicate on the expenditure report the business reason(s) for
using tl1e private mobile phone for business purposes.
Employees will not be reimbursed for the use of Mobile phone services such as
weather, sports, or stocks.
The use of Mobile phones from rent a cars, private cars, trains and airplanes is
prohibited except when the call is urgent and crucial to the business needs.
Any costs for mobile phones in an employee's personal car are not reimbursable.
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N. NON-REIMBURSABLE EXPENDITURE
O. CONSULTING CONTRACTS
To request prior approval for a new consultant, submit the terms of the
assignment/ contract, a description of the work to be performed, the name of
the responsible manager and the cost. All proposals must be submitted one
month before the work begins or the contract is signed.
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Managers must ensure that the use of consultants is warranted, that there
are measurable milestones in the contract and that the relationship is
monitored closely.
Employees should take every opportunity to send documents bye-mail, fax or the
intranet when security is not an issue or is provided by passwords. If hardcopy
documents must be sent, executives / employees should use approved mail or
courier services. Same-day messenger service and next-day or second day
express courier service should be restricted to documents that are of a
confidential nature and/or contain time-sensitive material. In general, when
determining which delivery method to use, employees should consider the
length of the document, its confidential nature and time sensitivity.
Mail services are for business purposes only. Personal shipments should be
avoided.
When express mail service is required, executives / employees must use the
Approved Supplier. To reduce expenditures, express mail should be shipped by
second-day air where possible. Express courier service should not be used for
employee expenditure reports or reimbursement requests or general
correspondence.
Once you have determined that you need to use a Messenger Service, you must
use a local Approved Supplier.
R. OFFICE SUPPLIES
T. INTERNAL COMMUNICATION
U. RECRUITING
The use of employment agencies, search fees and recruitment advertising
requires the approval of the Delegation of Authority attached to this Manuel.
BCB approved the authority limits.
All temporary staff should be aware of our code of ethics policy and BCB
policies relating to confidentiality. These staff will be required to sign a
declaration of secrecy.
All temporary staff in assignments for sixty (60) or more consecutive calendar
days, as well as all temps in sensitive positions, may be subject to additional
special checks or references.
Executives / Employees may not commit expenditures for the following goods or
services without expressly being delegated signing authority.
Advertising
All forms of advertising require the Delegation of Authority attached to this
Manuel/President of the Member Association.
Corporate Insurance
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Employee Relocation
All employee relocation expenditures require prior approval from the delegated
authorities.
Facilities-Related Purchases
Costs related to premises, moves, office relocations and furniture must be
approved by the Delegation of Authority attached to this Manuel/President of
BCB.
Legal Expenditure
No Executive / Employee may engage outside legal counsel without the prior
approval of the Delegation of Authority attached to this Manuel/President of
BCB. The in-house Lawyer is responsible for the retention and supervision of
outside counsels.
Outsource Arrangements
All salary and other staff compensation matters require the approval prior
approval from the delegated authorities.
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CHAPTER 9(A)
INTERNAL CONTROL
The internal control system is inevitable for the BCB to control its financial
matters as well as to maintain the continuity and accuracy in the arena of its
financial affairs. With a view to maintain an effective and efficient work flow in
all sphere of transaction procedures, it is essential to segregate a specific job in
different segments and make a meaningful division of labour to accomplish that
task. Some important elements of the internal control device are narrated
below:
There are broadly eight categories of internal controls. The acronym "SOAP
MAPS" can be used to categorize the controls as follows:
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ii - Board Controls: These are both detective and preventive in nature and
include well-defined responsibilities and the segregation of functions conveying
as transactions initiating, processing and recording.
v - Access Controls: These are detective in nature and includes control over
access to assets and accounting records through simple physical measures such
as locks and safes and procedural controls such as controls over petty cash
issue.
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The absolute and independent control of one person in the financial transaction
may create the opportunity of fund misappropriation. As such, to safeguard the
interest of the Board, adequate control over financial transaction, internal check
system is a must. The function of accounts department should be designed in
such a way that the job done by one person is automatically checked by another
and thus minimizing the possibility of fraud or irregularities. The job distribution
of the personnel of finance & accounts department of Bangladesh Cricket Board
Management Office shall be arranged in such a way that a person handling cash
and posting in the Cash Scroll Book shall not be given the responsibility of
preparing vouchers, writing of cheques and posting in the Cash Journal Register,
Bank Journal Register & Control Ledger.
Cashier & Cash Officer shall be engaged for receipts and payments of cash,
maintenance of physical cash and writing of Cash Scroll Book.
The Manager (F&A) shall be responsible for the preparation of monthly Trial
balance, income statements and balance sheet, cash flow statements, notes
to accounts.
The Chief Financial Officer (CFO) shall be responsible for the preparation of
reports to the Chief Executive Officer (CEO) and placed in Board Meeting.
Before making payment in connection to all bills / vouchers for expenses of the
Board, the bills shall be duly checked by finance & accounts department as per
rules and regulations of Bangladesh Cricket Board in this context and shall be
finally approved by the respective committee chairman and Finance Committee
Chairman as per the delegation of financial authority of the BCB. The Cheque
will be signed by the bank signatories as prescribed by the BCB's governing
body.
No payment shall be made without the prior approval of the above authority as
narrated. The bills and the invoice for payment shall be canceled by affixing the
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stamp "PAID AND CANCELED" and shall be dated. The payment voucher
should always have the supporting documents in original as its attachments. All
sums of money expended by the Board shall be recorded in books of accounts
and there should be systematic procedures of payment that can ensure:
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The cash payment and cash handling system will be maintained as per financial
guideline (covered in Chapter-8) of the BCB. The recording of cash transaction
will be done as per financial guideline.
Requisition / Indent;
Resolution of the Governing Body if needed;
Approval of Chief Executive Officer;
Agreement / Deed of contract;
Assignment letter which should include TOR;
Assignment completion certificate
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The cash receipt system will be maintained as per financial guideline of the BCB
(covered in Chapter-8). The recording of cash transaction will be done as per
financial guideline.
Approved advance requisition form shall be sent to the accounts which will be
checked the particulars therein and then payment voucher shall be prepared by
the accounts & shall disburse the amount of advance after obtaining the
signature of the recipient.
Any advance to staff members may be made on specific requirement with the
written approval of the competent authority as per delegation of authority.
Bangladesh Cricket Board shall follow the noted steps in verifying / checking the
validity of all the resources at its disposal.
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A committee comprising at least two (2) members shall be formed. The said
committee shall do a feasibility study / checking of all the resources once in
each year.
Committee shall examine all of the resources in light of the lists prepared by
Administration Department.
The committee shall submit the feasibility report as per stipulated date and
time.
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CHAPTER 9(B)
AUDIT & ANTI-CORRUPTION STRATEGY
The Auditors shall have access to all convenient times, during the agreed period
for annual audit, to all books, records, vouchers and other documentation which
are, in the opinion of the auditors, necessary in performance of the audit.
a. Check to ensure that the provisions of the BCB Finance Manual have been
complied with.
b. Check that proper, separate and up to date books and accounting records
have been maintained.
d. Check the accuracy of the quarterly and other returns that are submitted t
o BCB.
e. Check the documents and invoice etc. underlying the expenses and ensure
that these have been properly processed and approved.
f. Where lump sum expenses have been advanced (e.g.for tournaments) then
check that these have been properly accounted for in a timely manner and
with supporting documentation
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g. Check that any Sustenance Allowances (if any) paid to staff during their
travel are properly authorized and accounted for
h. Review that the expenses have been properly classified within the Chart of
Accounts
i. Review that the expenses incurred are correctly monitored against the
budget.
m. Review the internal approval process for expenses incurred and check for
evidence of authorization
p. Ensure funds/grants received form BCB have been properly accounted for
and recorded in the books of account.
The Auditors shall have access to all books, records, vouchers and other
documentation which are, in the opinion of the auditors, necessary in
performance of the audit.
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Management Letter:
The Auditor may issue a Management Letter if he finds any item which he thinks
should brings in to the notice of the management.
BCB will appoint a firm of Chartered Accountants to act as the Internal Auditor
of the BCB. Internal audit of BCB activities should be carried out monthly to
ensure compliance of policies and procedures.
The Internal Audit Report shall be submitted the to the CEO with detailed
findings and recommendations, if any.
The Internal Auditors shall have functional independence and unhindered access
to records and documents for undertaking all internal control activities and
duties.
Internal auditor shall review and appraise the soundness and effectiveness of
accounting and administrative controls and ascertain the extent of compliance
with established policies, plans and procedures.
a. Check to ensure that the provisions of the BCB Financial Manual have
been complied with.
(ii) making such tests and inquiries as consider necessary for the
purpose of audit, those tests will inter alia apply to :
(iii) keeping under review the Organizations adherence to all local legal
requirements.
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But their nature and extent will vary according to assessment of the
Organizations system of internal control and may cover all aspects of the
Organization.
Management report:
At the end of each month the auditor shall prepare a monthly report for
submission to the Management which will cover:
Within end of the following month a draft report will be sent to the Management
on material weaknesses, if any, which may come to notice and which the auditor
think should be brought to their attention.
The Auditor should be done the following activities at the time of audit:
Quarterly Report:
At the end of each quarter the management will provide a set of quarterly
financial statements. The auditor will carry out audit on this quarterly financial
statements and will submit this financial statements along with the quarter end
monthly report to the management within 6 (six) weeks of end of the quarter.
I. Definition of Corruption:
II. Confidentiality:
The Chief Executive Officer (CEO) of BCB is the point of contact to report
allegations of fraud and corruption among BCB activities or its staff.
Once the allegation and /or evidence have been turned over to CEO, CEO will
present it before the Board. Upon screening, Board will determine whether to
proceed with an investigation or not. At Boards discretion, it may conduct
preliminary inquiries of concerns that an executive / staff may have committed
any conduct perceived to be fraudulent or corrupt practices. If Board finds that
there is no basis to consider disciplinary action, Board will note the reasons for
that decision, and the case will be entered into the Board fraud and corruption
database.
Board will outline the proposed nature, scope, duration, investigating officer or
entity, and method for conducting the investigation.
Board may engage outside auditors, investigators or other experts for the
investigation.
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The investigating entity will conclude the investigation and submit its findings
and any relevant evidence to Board. On the basis of investigative findings, and
taking into consideration the submissions of the accused party, the Board will
assess whether the alleged violation took place, the case should be closed, or if
the investigating entity should conduct further investigation. If the Board
determines that the accused party has engaged in corrupt or fraudulent
practices in any BCB activity, it shall decide upon the appropriate measures or
remedial action to be taken.
Remedial action (sanctions) imposed by the Board may be appealed to the Board
if submitted by a concerned entity within 90 days from the date on which the
decision of the Board was sent to the entity. Any such appeal must be in writing,
and clearly and succinctly state the reason(s) for the requested review of the
decision of the Board. Board may constitute a Review Sub-committee (RS) for
the review. The Review Sub-Committee shall consider any new information to
the extent that:
Such information was not known, or could not reasonably have been known, to
the investigation entity at the time that explanations were sought by the Board,
and
The Review Sub-Committee will render its decision. The decision of the Review
Sub-Committee on any such appeal shall be final and binding and shall not be
subject to further appeal.
While acknowledging the need for fairness and consistency in its operations,
and strongly affirming the need for its operations to adhere to the highest levels
of probity and integrity, BCB notes that different types of corruption will require
different responses. There is a need for careful judgment based on accurate
information and the specifics of the situation. If Board investigation determines
that fraud or corruption has occurred, then- depending upon the nature of the
violation Board could pursue a range of options.
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CHAPTER - 10
PAYMENT OF SALARY & ALLOWANCE
136.00 - Introduction:
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The officer dealing with the leave register will record all particulars about leave
of a staff, so that, up to date information of the persons current leave position is
readily available by Finance & Accounts Department.
Bank advice has been prepared by the accounts department to transfer the
individual salary to the individual staff salary account in bank at the end of the
month whose salary became due after approval of Chief of F&A, General
Manager, Chief Executive Officer as per delegation of authority.
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All the staff members working at Management Office will be paid their salaries
on or after the last working day of a month.
Preparation of the salary bills should preferably be started from the fourth week
of the month so as to make sure that payment is made in time.
If the salary bills are not prepared in advance, last minute rush in trying to
complete the bills might result in occurrence of all sorts of mistakes in the
payment of salaries.
145.00 - Telephone:
Office telephone is only for official use. Personal call is entitled for meeting
emergency whose duration should be as short as possible. Personal trunk call /
overseas call shall be entitled only on payment and with prior approval. Budget
allocation for Management Office and unit office shall be monitored regularly.
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CHAPTER 11
ADVANCES, DEPOSITS AND PREPAYMENTS
146.00 Introduction:
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Must be adjusted within fifteen (15) days from the date of completion of the
work;
If a staff member to whom an advance has been made fails to submit bills /
accounts supported by vouchers for adjustment with in stipulated time, total
amount of advance will be deducted from his / her salary account till the
accounts of advance are finalized with out any intimation to concerned
person.
To carry out the routine duties and activities related to different projects /
programs of Bangladesh Cricket Board Management Office and Unit office, all
sorts of goods and materials need to be procured. Out of these materials, some
are purchased through the staff members while others directly through outside
parties / suppliers.
That the stores are immediately and urgently required. Requisition for goods
should be made throw the Requisition for goods Form (Appendix N);
That time at disposal does not permit purchase by open or selected tender;
That purchases should be completed and account rendered within three (3)
days of taking the advance and the balance, if any be refunded in cash
immediately after purchase;
If a staff member to whom an advance has been made, fails to submit bills /
accounts supported by vouchers for adjustment with in the stipulated time,
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the total amount of advance will be deducted from his salary account till the
accounts of advances are finalized with out given any intimation to concerned
staff member.
To carry out the program activities related to different Unit and programs of
Bangladesh Cricket Board, some expenses are needed to be paid out to the staff
members of Bangladesh Cricket Board in the form of liquid cash on the same
date as the expenses as incurred for smooth completion of the activities.
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This is called as prepaid rent. In case of rental of houses for official purposes by
Bangladesh Cricket Board Management Office and Unit Offices, the following
procedures are applicable:
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If the final bill amount of the supplier exceeds the taxable limit for
deduction of tax at source at the time of payment as per the Income Tax
Ordinance 1984, then it should be compulsory to deduct tax at the rates
applicable to this payment of the final bill.
Finally, the deducted (TAX & VAT) amount from the suppliers bill
should be deposited to the Government through treasury challan with
in the date as specified in the Income Tax Rules.
As per contractual agreement with the consultants / consulting firm & Board.
Cases, in which, in the interest of works, it is absolutely necessary to make
advance;
In all other cases, only with the sanction of the Chief Executive Officer, who
may, in exceptional circumstances, authorize such advances as may be
deemed necessary, taking the proper precautions against loss and for
preventing the system from becoming general or continuing longer than is
absolutely essential.
Accounting for advances & their adjustment against submission of bills will be
made on regular basis. Advance will be adjusted as per terms & conditions with
the service provider.
For payment of other part of the submitted final bills of consultant. Noted that:
If the final bill amount of consultant exceeds the taxable limit for deduction of
tax at source at the time of payment as per the Income Tax Ordinance 1984,
then it should be compulsory to deduct tax at the rates applicable to this
payment of the final bill.
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Prior approval from the Chief Executive Officer is compulsory for outside
advances in cases of "advance against third party for material supplies",
"advance against service providers", "advance against rent" and "advance
against traveling - outside the country".
Prior approval from the Chief Executive Officer is compulsory for staff
advances.
Prior approval from the concerned authority is compulsory for staff advances
in case of "advance against traveling - within the country".
Prior approval from the concerned committee chairman is compulsory for
committee advances.
Staff advances for traveling will be adjusted within fifteen (15) days after
return to office.
Maximum limit of advance shall be received by the staff members of
Bangladesh Cricket Board is not exceeding the limited as outlined by the
"Service Rules" of the Bangladesh Cricket Board in case of staff advance for
traveling cost.
Other advances will be adjusted as per Bangladesh Cricket Board Service
Rules and related Contract Agreement basis.
Expenses incurred will subsequently be approved as per policy and
guidelines.
On approval of the bills, accounts department will make the payment voucher
/ journal voucher / received voucher as the case may be.
Finance & Accounts Department will make entry in the computer and
updated the all ledgers.
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CHAPTER 12
FIXED ASSETS AND DEPRECIATION ACCOUNTING
156.00 Concept:
Fixed assets have the fundamental characteristic that they are held with the
object of earning revenue and not for the purpose of sale in the ordinary course
of business. Depreciable assets are assets which are expected to be used during
more than one accounting period. Note that land generally has an indefinite life
and is therefore not depreciable asset as defined above. The other assets do
have a definite life and are therefore depreciable assets. Thus, for accounting
purposes the value of land and building should be segregated. The land should
be maintained in the accounts with out depreciation. Building on other hand
should be depreciated.
157.00 Introduction:
Unit price of any asset is at least Taka 1,000 (One Thousand) only will be
regarded as fixed asset of Bangladesh Cricket Board. For all that any item is
below worth Taka 1,000 (One Thousand) only but durable for many years will
not be capitalized. This definition will hold good to all purchase items and items
received as donation.
For this reason, proper register and accounting books are to be maintained in
Management Office to fully account for fixed assets in their possession. Where
fixed assets are procured, it will be necessary to keep an accurate account of
such assets for physical control and inventory.
Every offices of Bangladesh Cricket Board shall designate a staff member for
maintaining the records of fixed assets and their movements and safe custody.
Assets issued to various offices of Bangladesh Cricket Board shall remain in the
safe custody of those offices and therefore they will be responsible for
management of those assets.
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the process, then the offices should have to collect that particulars advice
from Management Office by taking its own initiatives.
Legal registration of all the purchased fixed assets shall be in the name of
Bangladesh Cricket Board. Chief Executive Officer or authorized officer of
Bangladesh Cricket Board on behalf of Bangladesh Cricket Board will sign in
deed / document related to registration.
Assets valued at Taka 1,000 or more and lasting for more than one (1) year shall
be classified and entered in the assets register according to standard accounting
practices. A proper record shall be maintained for all fixed assets. The records
of assets shall be maintained using the accounting codes and heads as
illustrated in common chart of accounts.
Every asset has a certain life span that varies depending on the particular
characteristics of that asset. Dividing the purchase value of an asset by its
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expected economic life or duration period (in years) results in that assets yearly
depreciation. Depreciation for the accounting period is charged to income either
directly or indirectly. The depreciation method selected should be applied
consistently from the period to period unless altered circumstances justify a
change. Depreciation is to be charged on fixed assets on reducing balance
method. Special instructions are:
Through wear & tear, working lives of the fixed assets get shortened and
gradual loss of their workability takes place depending, of course, on the rate of
usage. To account for this loss / damage, depreciation as per schedule fixed by
management will have to be charged on fixed assets.
It is worth mentioning here that the fixed assets will always have to be shown in
the books of accounts at the original cost. At the time of preparing final
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As soon as the procurement of fixed assets take place, various data related to
that assets have to be recorded in the fixed assets register. The vouchers
prepared (both cash journals and journal vouchers) in this connection will
indicate where and how the particulars are to be recorded in the fixed assets
register.
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In column 14 find out the Taka amount of written down value of assets by
deducting the column 13 from the column of 12.
Every offices of Bangladesh Cricket Board shall make a provision for inspection
and physical verification of assets, by the person not related with the record of
assets, at least once in a year to find out the condition of moveable and
immovable assets.
All assets shall be inventoried at June closing each year compulsorily. Approved
inventory sheet shall be used for this purpose.
The stock on hand per fixed assets register shall be verified against the physical
counts and physical quality shall be recorded in the fixed assets register.
Each office of Bangladesh Cricket Board shall ensure that proper system is
installed to prevent assets from being damaged, lost or destroyed.
Every office also shall, when feasible, insure fixed assets against theft, pilferage
or possible loss due to accident, fire or natural calamities.
CHAPTER 13
FINANCE COMMITTEE AND DELEGATION OF AUTHORITIES
171.00 - Finance Committee
The Finance Committee will be composed as per constitution [section 15 (Ga) ]
of the BCB. The constitution allows maximum of 7 (seven) members to be
included in the Finance Committee.
Purpose
To consider the financial results and budget of the BCB on a regular basis.
Following are the broad functions of the committee:
Meetings
Meetings will be held at such time that the CEO, in consultation with the
Committee Chairman, shall determine.
The following matters are the specific responsibility of the Finance Committee
which acts as an advisory body to the Board.
PROPERTY
Note : When actual expenditure will exceed from the Global Budget then
a supplementary budget should be approved by the Working Committee
and it must be approved in the Executive Committee Meeting as per
requirement of the BCB Constitution (provision 16 -1 (Kha).
EXPENDITURE
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Note: When the payment upto Tk.300,000 will be made in emergency case, CEO
will approve the payment subject to post facto approval by the above personnel
as per Expenditure authorization procedure.
Accounting
System:
For General
Expenses:
1. For any amount : Joint signatures of any one from the following groups:
Group A:
In general Treasurer / Chairman Finance Committee will sign the cheque. In the
absence of Treasurer / Chairman Finance Committee, General Secretary or any other
person as assigned by Executive Committee will sign the cheque. If both of the above
are absent then President of the board will sign the cheque.
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Group B:
In general the CEO will sign the cheque. In the absence of CEO, the CFO will sign the
cheque. In absence of CFO, Head of Administration will sign the cheque. When the
above three persons are absent then Manager (Finance & Accounts) will sign the
cheque.
In addition to above the banking transactions may also be carried in following manner
subject to approval of the BCB Executive Committee:
2. For amount upto Taka 50,000: Two signatories may required to sign the cheque
which are as follows:
To be signed jointly by the CEO and CFO. In absence of CEO or CFO, Head of
Administration or Manager (Finance & Accounts) will sign the cheque.
The above persons will only be authorized to sign any cheque upto Tk.50,000 after the
expenditure note sheet relating to the specific payment has been duly approved by the
Treasurer / Chairman Finance Committee and General Secretary (provided the
payments are within Budget).
Note : When actual expenditure will exceed from the Global Budget then a
supplementary budget should be approved by the Working Committee and it
must be approved in the Executive Committee Meeting as per requirement of
the BCB Constitution (provision 16 -1 (Kha).
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CHAPTER-14
CORPORATE GOVERNANCE
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CHAPTER-15
FINANCIAL REPORTING
(a) assets;
(b) liabilities;
(c) equity;
(d) income and expenses, including gains and losses and
(e) cash flows.
The BCB CFO is primarily responsible for the preparation and presentation of its
financial statements.
By the 20th day after end of the quarter the CFO shall prepare a monthly
Financial Statement for submission to the Internal Auditor.
By 31st July the financial statements of preceding financial year should be ready
for audit. Audit should be completed within August and ready for distribution by
15th September in each year.
Balance Sheet;
Income Statement;
Statement of Changes in Funds;
Cash Flow Statement;
Development Fund Statement;
Accounting Policies and
Explanatory Notes.
Balance Sheet:
The Balance sheet of BCB will reflect the Financial Position of BCB. The
Statement will be presented in accordance with the Accounting Standard issued
by the International Accounting Standard (IAS) and Bangladesh Accounting
Standard (BAS).
Development Fund:
A separate Balance Sheet should be prepared for the Development Fund for
reporting purpose to the BCB.
Income Statement:
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a. Capital transactions,
The cash flow statement should report cash flows (inflows, outflows) during the
period classified under operating, investing and financing activities.
Investing activities are the acquisition and disposal of long-term assets and
other investments not included in cash equivalents.
Financing activities are activities that result in changes in the size and
composition of the equity capital and borrowings of the enterprise.
The Development fund statement should report all inflows and out flows of BCB
Development Fund. It should reflect all expenses incurred both by BCB.
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Appendix-A
BANGLADESH CRICKET BOARD
ANNUAL BUDGET
Current Financial Year Previous
Financial
Year
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Medical Insurance - -
(BUPA)
Other Expenses - -
(2004-05)
2 Cricket Activities: -
- - - - - -
Cricket Operation - -
(Tournament)
Cricket Operation - -
(Performance &
Winning Bonus)
Commercial - -
Cricket Committee of - -
Dhaka Metropolis
(CCDM)
Grounds & Facilities - -
Gift & Souvenir - -
Gate Law, Order & - -
Security
Game Development - -
Logistic and Protocol - -
Media & - -
Communication
Medical - -
Tournament - -
Committee
Ticket & Seating - -
Women Wings Cricket - -
Umpires
3 Capital - - -
Expenditures: - - -
G & F Management - -
Game Development - -
Information - -
Technology (IT)
Administration - -
Budget of Mirpur - -
Stadium construction
& Renovation cost
C Excess / (Deficit)- - - - - - -
(A-B)
Opening Balance - -
(In kind of Cash)
Opening Balance - -
(In kind of USD)
Investment in FDR - -
(USD)
Investment in FDR - -
(BDT)
D Total Fund - - - - - -
Available
Net Excess / - - - - - -
(Deficit) - (D+C)
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Appendix-B
BANGLADESH CRICKET BOARD
CHART OF ACCOUNTS
SL # A/c. Description A/c. Type
A. Accumulated Fund Capital
1 BCB Fund Capital
2 Control Account Capital
B. Fixed Assets Fixed Assets
1 Air cooler Fixed Assets
Accumulated Depreciation
2 Artificial Pitches Fixed Assets
Accumulated Depreciation
3 Bi Cycle Fixed Assets
Accumulated Depreciation
4 Bowling Machine Fixed Assets
Accumulated Depreciation
5 Carpet Fixed Assets
Accumulated Depreciation
6 Computer and Printers Fixed Assets
Accumulated Depreciation
7 Computer Software Fixed Assets
Accumulated Depreciation
8 Dish Movie Camera Fixed Assets
Accumulated Depreciation
9 Electric Equipment Fixed Assets
Accumulated Depreciation
10 Electronic Goods Fixed Assets
Accumulated Depreciation
11 Furniture and Fixture Fixed Assets
Accumulated Depreciation
12 Generator Fixed Assets
Accumulated Depreciation
13 Ground Super Sapper Machine Fixed Assets
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Accumulated Depreciation
14 Gymnasium Equipment Fixed Assets
Accumulated Depreciation
15 Ice Cuber Fixed Assets
Accumulated Depreciation
16 Indesit 4 Burners Fixed Assets
Accumulated Depreciation
17 Manual Score Board Fixed Assets
Accumulated Depreciation
18 Medical Equipment Fixed Assets
Accumulated Depreciation
19 Microphone Fixed Assets
Accumulated Depreciation
20 Mobile Practice Net Fixed Assets
Accumulated Depreciation
21 Mobile Set Fixed Assets
Accumulated Depreciation
22 Office Building Fixed Assets
Accumulated Depreciation
23 Office Equipment Fixed Assets
Accumulated Depreciation
24 PABX Set Fixed Assets
Accumulated Depreciation
25 Photocopy and Fax Machine Fixed Assets
Accumulated Depreciation
26 Pitch Covers Fixed Assets
Accumulated Depreciation
27 Pre-meter Board Fixed Assets
Accumulated Depreciation
28 Projector Fixed Assets
Accumulated Depreciation
29 Roller and Ground Machine Fixed Assets
Accumulated Depreciation
30 Side Screen Stand Fixed Assets
Accumulated Depreciation
31 Tarpaulin Fixed Assets
Accumulated Depreciation
32 Telephone Set Fixed Assets
Accumulated Depreciation
33 Television and VCR Fixed Assets
Accumulated Depreciation
34 Trophies Fixed Assets
Accumulated Depreciation
35 Type Writer Machine Fixed Assets
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Accumulated Depreciation
36 Video Camera Fixed Assets
Accumulated Depreciation
37 Vehicle Fixed Assets
Accumulated Depreciation
38 Vacuum Cleaners Fixed Assets
Accumulated Depreciation
39 Washing Machine Fixed Assets
Accumulated Depreciation
40 Wake Talkie Fixed Assets
Accumulated Depreciation
C. Current Assets:
1 Accounts Receivable: Current Assets
a. Grameen Phone Ltd. "
b. Green Delta Insurance Company "
c. Party related to International TV right "
d. M.M Ispahani Limited "
e. Receivable from ICC "
f. Standard Chartered Bank "
2 Advances: Current Assets
a. Advance to BCB Staff "
b. Advance to Cricket Board (Other) "
c. Advance to Other Person "
3 Deposit and Prepayment:
a. Investment in Fixed Deposit Current Assets
b. Security Deposit "
c. Loans "
d. Sundry Receivable "
e. Reimbursable Expenses "
4 Cash in hand and at Bank Current Assets
a. Cash at Bank "
b. Petty Cash "
D. Current Liabilities:
1 Accounts Payable Current
Liabilities
2 Outstanding Salary Current
Liabilities
3 AIT Deducted at Source Current
Liabilities
4 VAT Deducted at Source Current
Liabilities
5 Earnest Money Current
Liabilities
6 Employees' Contributory Provident Fund (CPF) Current
Liabilities
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Appendix-C
BANGLADESH CRICKET BOARD
BILL REGISTER
11
Appendix-D
Expenditure Note
Sheet: Date: ..
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Rahim
Payee: Enterprize
Amount: 141,150
Bank Standard
Name: Bank
Cheque
No. 0124505
Appendix-E
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Total
Amount In words:
Budget Reference:
IOU FORM
Date: To be adjusted on or before:.......................
.....................................................................
Amount : Purpose:.......................................................
..................................................................
Amount in word :
.....................................................
Name:
....................................................................
Designation :
.........................................................
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Appendix-F
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Appendix-G
Designation:
Date:
Amount in words :
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Appendix-H
BANGLADESH CRICKET BOARD
TOUR PROGRAM
Name: Date:
Designation:
Departure Arrival
Appendix-I
BANGLADESH CRICKET BOARD
TA/DA BILL
Name: Date:
Designation:
Departure Arrival
Expenditure Head:
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Appendix-J
BANGLADESH CRICKET BOARD
CHEQUE / ADVICE REGISTER
Bank:
Branch Name:
Account Number: Page No.
----------
Dat Cheque Payee's Amou Signature Signature Cheque Remar
e Numbe name nt of the with full prepare ks
r Taka account name of d by
operator receiver &
date
1 2 3 4 5 6 7 8
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Appendix-K
BANGLADESH CRICKET BOARD
INVOICE
Ref:
Date:
Invoice No.
To
Address
Particulars Amount
(BDT)
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Total Taka
E & OE
Appendix-L
BANGLADESH CRICKET BOARD
MISCELLANEOUS BILL
Name: Date:
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Designation:
Total
Less: Advance
Net Payable to
the payee
(Amount in
word :--------------------------------------------------------------------------------------)
Appendix-M
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Name:
Amount in words:
Description Amount
Total:
.......................
Received by Authorized Signature
Date:
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Appendix-N
Name:
Designation:
Date:
Total:
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Appendix-O
BANGLADESH CRICKET BOARD
WORK ORDER REGISTER
Sl. Issu Committ Part Purpo Work Work Bill Amou Remar
No e ee/ y se Order Com date nt ks
Dat Departm numb plete
e ent er d
date
1
2
3
4
5
6
7
8
9
10
11
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Here our observation is that the above has not been followed to easily payment
the bill in due time.
Recom:
The above provision should be followed for smooth payment.
The supplier will submit the bill to the respective department / committee.
The respective department / committee shall check the bills quantity and
description with challan. After checking the bill, the respective department /
committee shall record the bill transaction in their Bill Register (Bill
Register, Ref. point 66) and prepare a department / committee Note
Sheet and attach the relevant documents (three spot quotations, work order,
approved budget copy, certified challan copy, approved bill copy ect.). The
department / committee Note Sheet should be approved by the departmental
head or Committee Chairman where applicable. The department / committee
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shall forward the Note Sheet along with relevant documents to Accounts
Department for payment.
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