Financial Management

Banking details of SHED

Name of A/C	A/C No.	A/C type	Name of Bank	Branch with Address
SHED-General Fund	12953	CA	Islami Bank Bangladesh Ltd.	Teknaf Branch, Bus station, Teknaf, Cox’s Bazar.
Cash transfer to WFP Assistant Activities	4128-428069-000	CA	AB Bank Ltd.	Teknaf Branch, Abu Hanif Market, Teknaf, Cox’s Bazar.
Cash transfer to WFP Assistant Activities	4128-428069-000	CA	AB Bank Ltd.	Teknaf Branch, Abu Hanif Market, Teknaf, Cox’s Bazar.
SHED-IPFACMP	4128-427805-000	CA	AB Bank Ltd.	Teknaf Branch, Abu Hanif Market, Teknaf, Cox’s Bazar.
SHED-SHOUHARDO II	4128-354077-430	STD	AB Bank Ltd.	Teknaf Branch, Abu Hanif Market, Teknaf, Cox’s Bazar.
SHED-IMCN	4128-399898-430	SA	AB Bank Ltd.	Teknaf Branch, Abu Hanif Market, Teknaf, Cox’s Bazar.

 

Financial Management of SHED

The organization has its own financial policy that was initially developed with initiative of BPHC,

a project of DFID in 1996 aided by national experts. Since than the policy has been under continuous up gradation as advised by different auditors as well as donors’ expert contributions. Through this process our financial policy has become up-graded to modern/ international financial system.

Some key points of the financial system have been described bellow that is followed to maintain financial matters;

• Maintained separate bank account for individual project and checks signed by President/treasurer and Executive Director as mandatory.
• Books of accounts maintained are, cash/bank book, ledger book, general ledger etc.
• Cash and accrual basis of financial transaction
• Segregation of responsibilities:-

 

1. Preparation of vouchers by accounts section
2. Checked by project head/ respective supervisor
3. Approved by Executive Director

 

• Submission of monthly/quarterly and annual financial report prepared as per donors prescribed format
• Internal monitoring system are exercised
• Internal and external audit by donor
• Maintain standard procurement system acceptable to donors.
• Budgetary control is maintained by reviewing budget variance monthly an quarterly basis
• Internal control

 

Accounting system,

• identify and record all valid transactions
• accurately record transactions in the proper time/period
• properly classify transactions in accounts
• properly present financial statements and related disclosures