Documente Academic
Documente Profesional
Documente Cultură
And
Accounting System
Presented by:
PRANESH DEBNATH
28/03/201
5
Finance
Finance is defined as the provision of money at the time when it is required. It performs all the activity
relating to procurement and proper allocation of resources to produce a better intended results.
Step 2:
Deciding the
capital structure
Step 1:
Estimating the
financial
requirement
Step 7:
Implementation
of financial
control
Step 3:
Selection of
source of
finance
Function
of
Finance
Step 6:
Proper use of
surplus
Step 4: Pattern
of investment
Step 5:
Proper cash
manageme
nt
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Classification of Finance
Finance
Public Finance
Central Government
State Government
Local authority
Private Finance
Personal Finance
Business Finance
Finance of academic
intuition, &
Other Non profit
making
organization
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Financial
System of
University
Application
s
Sources
Internal
Admission Fee
Central Govt.
Registration Fee
Tuition Fee
Sale of Prospectus
Staff Payments
Furniture
State Govt.
Examination Fee
Non-planned
Expenditure
Planned
Expenditure
External
Equipment.
Donations
Administrative Exp.
Academic Exp.
Vehicles
Transportation Exp.
Finance Cost
Other Exp.
Depreciation
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Accounting
Accounting may be defined as the process of recording, classifying, summarizing, analyzing and interpreting the
financial transaction and communicating the result thereof to the person interested in such information.
1.Recording,
2.Classifying,
3.Summarizing,
4.Analysis and Interpretation and
5.Communicating the information to interested parties.
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(W.J.Vatter in 1947)
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Information
Cash
Basis
Accrual
Basis
NO
YES
NO
Yes
NO
Yes
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2. Purchase of stocks
Sponsored Project
expenditure) unutilized.
3. Purchase of computer
4. Retirement benefits
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Role of Audit
When the accounting work is completed, an Auditor is invited to check the accounts
prepared by the accountants. That means Auditing begins where accounting ends.
After completion of his (Auditors) work he has to submit a report stating the fact
whether or not the financial statements exhibits a true and fair position of the
Efficiency
financial affairs of an organization.Transparenc
Good
Internal Audit
Audit
Statutory Audit
y
Accountabili
ty
Governanc
e
Economy
Effectiven
ess
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Conclusion
Accounting and Finance are distinct from each other but these two terms are not
mutually exclusive rather complementary in nature because in present business
scenario large volume of financial activity is hardy possible without proper record
keeping and accounting without financial activity has no use.
Accounting is a knowledge and this knowledge helps in finance function. In a
nutshell Finance is the life blood which helps to keep the organisation alive and
Accounting is the record keeper and reporter of information regarding financial
activity i.e. both of them take equal part in forming the financial system of an
organisation.
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Thank You
University Finance and Accounting
System
28/03/2015