Premium Essay

Cash Securities

In: Business and Management

Submitted By chep
Words 3302
Pages 14
KABARAK UNIVERSITY

BUSINESS LAW AND ETHICS

1. Kenya’s court system. a. the court of appeal this is the highest court in Kenya with the function of hearing appeals from the high court in certain matters. b. the high court this is the second in hierarchy. Hears both criminal & civil matters. it has specialized divisions:- - family divisions - criminal divisions - civil divisions - commercial division - constitutional& judicial review divisions.
Appeals from various administrative bodies & subordinate courts are heard and determined by the high court.

c. magistrate’s court handle civil & criminal matters depending on the rank of the magistrate. the hierarchy of magistrates is:- 1. chief magistrate 2. senior principal magistrate 3. principal magistrate 4. senior resident magistrate 5. resident magistrate 6. district magistrate

d. specialized courts children’s court – this deals with matters relating to children e.g. parental responsibility
, custody, guardianship, protection of children, foster care, child offenders.
Anticorruption courts which deal with the matters relating to corruption & integrity.

e. tribunal tribunals are made by the parliament to deal with disputes that arise in the course of the regulation & administration of certain matters. Common tribunals are:-
1. industrial courts Deals with labour disputes.
2. land disputes tribunals Deals with disputes relating to land i.e. division of land & tenants in residential houses.
3. rent restriction tribunals – hears and resolves disputes between landlord and tenants in residential houses.
4. business premises tribunals – hears and decides cases involving landlord & tenants in business premises.

f. kadhis courts this deals with matters relating to personal status, marriage, divorce, inheritance in…...

Similar Documents

Premium Essay

Cash Credit

...Cash Credit : Overviews Cash Credit is also known as Working Capital .Cash Credit is a facility to withdraw the amount from the business account even though the account may not have enough credit balance. The limit of the amount that can be withdrawn is sanctioned by the bank based on the business cycle of the client and the working capital gap and the drawing power of the client. This drawing power is determined, based on the stock and book debts statements submitted by the borrower at monthly intervals against the security by hypothecating of stock of commodities and/ or book debts. The excess withdrawal of cash is made generally on demand from the customer and the customer has to pay interest on the excess amount he/she has withdrawn. The Cash Credit facility is quite useful to those businesses where cash payment like wages, transportation,cash purchases are to be made and the receivables are not realized in time. Cash Credit : Process The following are the sequence of steps taken by the banks on receipt of completed application forms. 1. Application form is accepted and acknowledged. 2. Personal interview /discussions is held with the customers by the bank’s officials. 3. Bank's Field Investigation team visits the business place/work place of the applicant. (All the documents submitted are verified by the bank with the originals so as to ensure the authenticity of the same.) 4. Bank verifies the track record of the applicant with the common information sharing......

Words: 418 - Pages: 2

Premium Essay

Cash Flow

...CONCEPTS a. The statement of cash flows details the actual cash generated through a specific time period, usually for fiscal year ending 20XX, for example. The cash flow statement, specifically, identifies the actual cash flowing in and out of the company and reveals how a company spends its money. Conversely, the income statement is based on the accrual method of accounting and will contain revenue, for example, that has not been received or expenses that have not yet been paid. b. The two separate methods to prepare the statement of cash flows is the direct and indirect method. Weis Markets uses the indirect method of accounting due to the fact the company uses the accrual method of accounting and derives data from both the balance sheet and income statement. Most companies, public companies specifically, use the indirect method of accounting as most implement accrual accounting. Smaller companies on a cash basis would use the direct method for statement of cash flows. c. The three sections of the statement of cash flows is investing, operating, and financing activities. d. Operating activities pulls from items on the income statements. Investing activities reports the purchase and/or sale of investments and property, plant, and equipment on the balance sheet. Financing activities reports the issuance and repurchases of company stocks, bonds, and payments of dividends on the balance sheet. e. Cash equivalents are current, highly liquid assets......

Words: 532 - Pages: 3

Premium Essay

Cash Flow

...Wendy Manzur Ch 10 Homework 10.48 Investment Securities   a. objective for securities are to obtain evidence regarding     -Existence of the investment securities at the balance-sheet date.     -Ownership of the investment securities.                              -Accurate cost and market value of the investment securities.                               -Proper classification of the investment securities.                          -Proper presentation and disclosure of the investment securities in the financial statements.                                -Proper recognition of interest income.                                -Proper recognition of investment gains and losses.                                b. Audit Procedures that should be undertaken with respects to audit evidence;                                 -Inspect and count securities in the company’s safe deposit box.                                 -Examine documents in support of purchases and sales of investment securities.                                 -Obtain a client representation letter.                                  - Verify the calculation equity method income.  c. Audit Procedures that should be undertaken with respect to obtaining evidence against bass - Inspect and count securities in the company’s safe deposit box. - Examine documents in support of purchases and sales of investment securities. - Obtain a client representation letter. - Verify the calculation equity...

Words: 387 - Pages: 2

Premium Essay

Cash Management

...A PROJECT ON STUDY OF CASH MANAGEMENT AT STANDARD CHARTERED BANK SUBMITTED IN PARTIAL FULFILLMENT OF BACHELORS OF MANAGEMENT STUDIES L S RAHEJA COLLEGE OF ARTS AND COMMERCE UNIVERSITY OF MUMBAI ACADEMIC YEAR 2010-2011 SUBMITTED BY: BINAY ROY PROJECT GUIDE: PROF. NAVEEN ROHATGI DECLARATION This is to certify that the project report ‘Study of Cash management at Standard Chartered Bank’ is submitted by me in partial fulfillment of the requirement of Bachelors of Management Studies in the academic year 2010-2011. The information it comprises of is true and original as per my research and observation. ----------------------------- Signature of the Student (Name of the Student) CERTIFICATE This is to certify that Mr. Binay Roy has completed the project ‘Study of cash management at standered chartered bank’ under the guidance of Prof. Naveen Rohatgi in the academic year 2010-2011 and has submitted the same to the University of Mumbai in partial fulfillment of the requirement of the Bachelors of Management Studies courses. -------------------------------- ---------------------------------- Signature of the Principal Signature of the Project Guide (Dr. Ms. M.B.Madlani) (Prof. Naveen Rohatgi) ------------------------------------------ Signature of the External Examiner. ACKNOWLEDGEMENT I......

Words: 11265 - Pages: 46

Premium Essay

Cash Flow

...of Phoenix Cash Flow XACC/ 291 04/25/14 It is very important for companies to prepare statements of cash flow because it is very important for both internal and external use. External use means investors, lenders, creditors and banks. According to the chapter a “The statement of cash flows reports the cash receipts, cash payments, and net change in cash resulting from operating, investing, and financing activities during a period. The information in a statement of cash flows should help investors, creditors, and others assess” (Weygandt, J. J., Kimmel, P. D., & Keiso, D. E. 2010). There are three sections of cash flow and they are Operating Activities, Investment Activities and Financing Activities. Operating activities include the cash effects of transactions that create revenues and expenses. They thus enter into the determination of net income. Investment activities include (a) acquiring and disposing of investments and property, plant, and equipment, and (b) lending money and collecting the loans, and financing activities include (a) obtaining cash from issuing debt and repaying the amounts borrowed, and (b) obtaining cash from stockholders, repurchasing shares, and paying dividends. The statement of cash flow is divided into three parts because accountant wants to see where the money is going. Also because companies normally use cash from different places the cash of cash flow is divided into three sections. Each section of the statement of cash flow has......

Words: 441 - Pages: 2

Premium Essay

Cash

...ways a purchase can be made. Technology has advanced us to the point where physical cash is hardly ever necessary and the majority of people just use a card. These advances have increased the speed and efficiency in which a purchase can be made but also in contrast how easy it is to overspend. Cash is still the optimal way to purchase because it is inconvenient. Since the dawn of the credit card in the mid nineteen-eighties, modern society has been in a frenzy using them. The concept felt so exclusive and futuristic that everybody decided that they simply had to have one. The credit card made spending such a streamlined process it effectively eliminating the guilty feeling one gets when buying something. That guilty feeling is the key to spending responsibly without it is incredibly hard not to overspend. An emotional connection with your money is needed and using cash stimulates that connection. Now that the credit card has become so widely accepted debt has also been befriended by society at large. More and more debt has become a growing force in the world. Credit cards have made buying beyond your means the social norm. Now more than ever people will buy the better car or the bigger house all in the name of elevating their personal status. This philosophy on spending has lead the United States straight into a time of economic crisis. Spending with cash with small and large purchases helps one be more responsible with money.......

Words: 607 - Pages: 3

Free Essay

Cash Flow

...1. Explain why investors should use the statement of cash flows. Cash flow is one of the most important measurements used by investors in valuing a company. You will hear the term used in the context of understanding how much a company is really growing (or not) after accounting conventions are stripped out of the income statement. Cash flow measures the amount of cash that a company brings in and uses during the course of an accounting period (quarter or year) after all fixed expenses are eliminated. This number is frequently called earnings before interest, taxes, depreciation and amortization (EBITDA). The reason investors are interested in cash flow is that it gives them a clearer picture of what the company is truly doing. Deductions When you begin deducting interest, taxes, depreciation and amortization, you distort what positive or negative cash flows the company’s operations generated. The four items (interest, taxes, depreciation and amortization) have nothing to do with the company’s actual operations and are accounting conventions for reducing income for tax purposes. Here’s how each one distorts operating performance: * Interest – Companies can deduct interest expense from their income for tax purposes. This deduction will change from year-to-year as more or less debt is on the books. * Taxes – Taxes are subject to change as laws change and the company’s business and accounting practices may change. This deduction also reduces net income. ...

Words: 1718 - Pages: 7

Free Essay

Cash Control

...Internal Cash Control Axia College of University of Phoenix Scenario E4-5 Idaho Company The Idaho Company scenario presents few weaknesses in internal control over cash disbursements. The first weakness comes obvious when they do not have pre-numbered checks and the more than one person has access to them, in this case two employees, the treasures and the purchasing agent, both have access to unissued checks. Additionally checks are kept in an unsecured (unlocked) file cabinet. Another weakness is that the Idaho Company does not require two have both signees sign the checks and only one person able to issue checks; on the contrary they both can issue checks. When it comes to checks and balances on procedures, only the purchasing agent is verifying the accuracy of the invoices and the sole checking account is only reconciled by one person; this creates a conflict of interest, additionally all the paid invoices get stamped with the word "paid” on the paper copy before the invoice is filed away. The recommendations that I would submit to the following: Establishment of responsibility: I will require having only one person responsible, that person will be entrusted with the key to the file cabinet in which the unissued checks are stored. Physical, mechanical, and electronic methods: I recommend that Idaho Company should immediately order pre-numbered checks. If this does not happen, checks can be taken and not accounted for because there is no numbering sequence. A...

Words: 1405 - Pages: 6

Premium Essay

Cash Flow

... The Statement of Cash Flows Purpose of a statement of cash flows: To provide information about the cash inflows and outflows of an entity during a period. To summarize the operating, investing, and financing activities of the business. The cash flow statement helps users to assess a company’s liquidity, financial flexibility, operating capabilities, and risk. The statement of cash flows is useful because it provides answers to the following important questions: Where did cash come from? What was cash used for? What was the change in the cash balance? Specifically, the information in a statement of cash flows, if used with information in the other financial statements, helps external users to assess: 1. A company’s ability to generate positive future net cash flows, 2. A company’s ability to meet its obligations and pay dividends, 3. A company’s need for external financing, 4. The reasons for differences between a company’s net income and associated cash receipts and payments, and 5. Both the cash and noncash aspects of a company’s financing and investing transactions. What can we learn from SCF that is not already available in the other financial statements? It provides answers to important questions like: Where did cash come from? What was cash used for? What was the......

Words: 15863 - Pages: 64

Premium Essay

Security

...Security Students Name Institutions Name How to resolve a security issue in a situation where the need for security is great but the available funds are limited Community participation is a very important aspect in enhancing security. Through the community’s leaders individuals can be sensitized on the need to protect each other and also help them to create a ‘we’ feeling in the management of the important resources in a region. This will enable the community members to identify with the resources and wealth of a region and hence strive to protect it by all means. Governments and administrative officials should also involve the locals in making of decisions that are of utmost importance to the people’s welfare (Bakari, Magnusson, Tarimo, & Yngström, 2006). The benefits if personnel in security management develop skills as educators for their organization's security Having high skilled employees who are given the potential to grow their expertise is a great benefit to any organization. An organizations success can often be attributed to individual expertise and skills of its employees. The benefits are as follows: 1. Cuts on the costs of hiring external consultants; many organizations spend a lot of money in hiring third party consultants to cover essential tasks within the organization such as periodic network vulnerability scans and developing security programs. The cost of sending employees to the requisite training may be relatively cheaper (McCoy &......

Words: 1066 - Pages: 5

Premium Essay

Cash Flow

...Statement of Cash Flows (Indirect Method) AAA Company Limited Statement of Cash Flows for the year ended December 31, 20XX $ $ Cash flows from Operating activities Net Income / Profit xx Adjustment for Non-operating Expenses Add: Depreciation expenses xx Add: Loss on Disposal of assets ( Net Book Value > Sale Proceeds ) xx Less: Profit on Disposal of assets ( Net Book Value < Sale Proceeds ) (xx) Changes in Current Assets and Current Liabilities (Increase)/Decrease in Account Receivables (xx)/xx (Increase)/Decrease in Inventories (xx)/xx Increase/(Decrease) in Account Payables xx/(xx) Increase/(Decrease) in Accrued Expense xx/(xx) Net Cash flows from Operating activities xxx Cash flows from Investing activities Purchases of Marketable Securities (xx) Proceeds from Sale of Marketable Securities xx Loans made to borrowers ) Collection on loans (xx) xx Purchases of (Land/Plant/Motor Vehicles) assets (xx) Proceeds from sales of plant assets xx Net Cash flows from Investing activities xxx Cash flows from Financing activities Proceeds from short-term loan ) xx Payment to settle short-term loan (xx) Proceeds from issuing bonds payable xx Payment to retire bonds payable (xx) Proceed from issuing Capital Stocks (Capital Stock + Additional Paid in Capital) Dividend Paid xx (xx) Net Cash flows from Financing activities xxx Net Increase /...

Words: 287 - Pages: 2

Premium Essay

Cash Budget

...The importance of cash budget may be summarised as follow:-(1) Helpful in Planning. Cash budget helps planning for the most efficient use of cash. It points out cash surplus, or deficiency at selected point of time and enables the management to arrange for the deficiency before time or to plan for investing the surplus money as profitable as possible without any threat to the liquidity. (2) Forecasting the Future needs. Cash budget forecasts the future needs of funds, its time and the amount well in advance. It, thus, helps planning for raising the funds through the most profitable sources at reasonable terms and costs. (3) Maintenance of Ample cash Balance. Cash is the basis of liquidity of the enterprise. Cash budget helps in maintaining the liquidity. It suggests adequate cash balance for expected requirements and a fair margin for the contingencies. (4) Controlling Cash Expenditure. Cash budget acts as a controlling device. The expenses of various departments in the firm can best be controlled so as not to exceed the budgeted limit. (5) Evaluation of Performance. Cash budget acts as a standard for evaluating the financial performance. (6) Testing the Influence of proposed Expansion Programme. Cash budget forecasts the inflows from a proposed expansion or investment programme and testify its impact on cash position.(7) Sound Dividend Policy. Cash budget plans for cash dividend to shareholders, consistent with the liquid position of the firm. It helps in following a sound......

Words: 607 - Pages: 3

Premium Essay

Cash Flows

...“Financial Accounting, sixth edition”, cash flow “permits a company to expand operations, replace worn assets, take advantage of new investment opportunities, and pay dividends to its owners”. Analyzing cash flow enables one to understand what happened to cash and cash equivalents throughout a specific period – how to the beginning balance of cash become the ending balance. The statement classifies cash flow in three different categories; operating activities, investing activities, and financing activities. To better understand and prepare the statement manipulating the balance sheet equation is a must. Assets can be further broken down into cash/cash equivalents and noncash asset. It is important to note that any change in cash also results in a change of liabilities, stockholder’s equity or noncash assets. With all of this, the “new” equation follows, change in cash = change in liabilities + change in SE – change in noncash assets. Cash flows from operating activities relate directly to revenues and expenses on the income statement. Examples of cash inflow activities include cash received from customers, dividends and interest on investments. Examples of outflows would be salaries, wages and income taxes. There are two methods in which one can present operating activities on the statement. It is important to note that both methods will provide the same number. The first is the direct method. This method “reports components of cash flow as gross receipts and......

Words: 1340 - Pages: 6

Premium Essay

Cash Management

...An Assessment of Corporate Cash Management Practices Author(s): Lawrence J. Gitman, Edward A. Moses and I. Thomas White Source: Financial Management, Vol. 8, No. 1 (Spring, 1979), pp. 32-41 Published by: Wiley on behalf of the Financial Management Association International Stable URL: http://www.jstor.org/stable/3665408 Accessed: 26-04-2016 11:33 UTC Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://about.jstor.org/terms JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. Financial Management Association International, Wiley are collaborating with JSTOR to digitize, preserve and extend access to Financial Management This content downloaded from 202.79.21.43 on Tue, 26 Apr 2016 11:33:11 UTC All use subject to http://about.jstor.org/terms An Assessment of Corporate Cash Management Practices Lawrence J. Gitman, Edward A. Moses, and I. Thomas White Lawrence J. Gitman and Edward A. Moses are Associate Professors of Finance in the College of Business Administration at the University of Tulsa. I. Thomas White is a mechanical engineer with Mobil Pipeline Company in Dallas, Texas. The cost of preparation, distribution, and other......

Words: 6607 - Pages: 27

Premium Essay

Cash Management

...Cash Management Comparison Cash Management Comparison Many organizations make a financial goal to minimize the amount of cash on hand on a monthly basis. This goal is based on attempting to reduce the amount of non-earning assets for the company. Cash on hand that is not required to meet a specific need could be placed in an interest bearing account or used to pay down on a credit balance, also reducing the amount of interest a company would have to pay on a loan. “Minimizing cash balances as well as having accurate knowledge of when cash moves into and out of the company can improve overall corporate profitability.” (Block & Hirt, 2004, pg. 175). As companies find a need to supplement business financial goals, obtaining credit or loans on a short-term basis is very attractive. Several options exist that organizations can explore when seeking short-term financing and each has an advantage or disadvantage over the other, based on the objectives the funds will be used for and or the length the funds will be borrowed. Cash Management Techniques “Cash flow relies on the payment pattern of customers, the speed at which suppliers and creditors process checks, and the efficiency of the banking system. The primary consideration in managing the cash flow cycle is to ensure that inflows and outflows of cash are properly synchronized for transaction purposes.” (Block & Hirt, 2004, pg. 175) When a company has positive control of the flow cash on a monthly basis the ability to......

Words: 1099 - Pages: 5