5:08 pm - Tuesday February 21, 3612

ICAB organizes training for NGOs-MFIs’ officials

The Institute of Chartered Accountants of Bangladesh (ICAB) has organized a two-day training on ‘Financial Management’ for the officials of Non Government Organizations (NGOs) and Micro finance Institutions(MFIs).The first phase of the aforesaid training program was started from Saturday at the Institute’s training room. A total of 800 officials will get the training gradually.

Training  PhotoMd. Abdul Karim, Managing Director, Palli Karma Sangsthan Foundation (PKSF) inaugurated the first batch training program as Chief Guest on Saturday. Mr.Showkat Hossain FCA, President-ICAB presided over the ceremony while and ICAB Vice President Dewan Nurul Islam FCA and Director of Microcredit Regulatory Authority Ms. Fawzia Zafreen were present. 40 officials participated in the first phase of training.

The resource persons of the training are Md.  Humayun Kabir FCA, Md. Syful Islam FCA, Md. Abdus Salam FCA, Masih Malik Chowdhur FCA,  Dr.Abu Sayed Khan FCA, Muhammad Farooq FCA, Gopal Chandra Ghosh FCA, Ajit Kumar Paul FCA, Eftekhar Ali FCA & Bibhuti Bushan Biswas FCA, says a press release.

The training will discuss on different topics related to accounting i.e. accounting cycle, accounting concepts, convention, assumptions, principles ad policies, cash vs accrual basis of accounting, income and expenditure recognition under accrual basis, cash book, bank book, general ledger, loan ledger, maintenance of books of accounts-subsidiary registers, special register, statements and reports for microfinance management, conceptualization of international/ Bangladesh Accounting Standards (BAS), Bangladesh Financial Reporting Standard(BFRS), application of MFIs. Of  BAS, BFRS, preparation of financial statements (balance sheet, income statement, cash flow statement, changes in equity statements and notes to the accounts),nature of errors and rectification of errors, preparation of debit voucher, credit and journal voucher, preparation of trial balance, preparation of receipts and payments accounts, bank reconciliation statement, accounting for depreciation/ loan loss provision and write off issues, fixed assets schedule (BAS-16),internal audit of MFIs, internal control system and verification of assets liabilities, external audit of MFIs, accounting for government grant (IAS-20),financial ratio analysis  and calculating effective rate of interest.

The last batch training will be end on 19 February.