[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image001.gif[/IMG]Third Year
Commercial Technical Secondary Schools
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Contents :-
- Accounting cycle.
- Income statement.
- Key terms.
Financial position statement
Preface:
After prepared the trial balance we're making the inventory adjustments to pull out the result of activities and determine the financial position for the firm.
To show the result of activities and determine the financial position we can use:
1- Classic method :
It depends on making final accounts and balance sheet.
2- Modern method :
It depends on making financial statements.
v The final accounts are the accounts which are opened at the end of the financial period for:
· closing out expenses accounts and revenues accounts at the end of each financial period.
· Determining the gross result of operations of the business.
· Determining the net result of operations of the business.
The final accounts that are used by commercial firm are:
1- The trading account:
Is used in recording :-
- Stock at first, purchases, sales, purchases returns, sales returns, carriage in, any expenses on purchases ( discount, allowances ) and stock at end.
- The balancing of trading account bring about:
Gross profit or gross loss .
2- The profit and loss account: ( P. & L. a/c )
- Is used in closing out expenses accounts and revenues accounts.
- The balancing of profit and loss a/c bring about:
Net profit or net loss.
The balance sheet is a statement of the assets, liabilities and capital of a business firm at a specific moment and specific date.
The following are a forms of trading a/c – profit & loss account and balance sheet.
DR. for the year ending ---/---/201-- CR.
stock at first a/c
Purchases a/c
Sales returns a/c
Sales allowances a/c
Carriage inwards a/c
Discount allowed a/c
Profit & Loss a/c
( Gross Profit )
Sales a/c
Purchases returns a/c
Purchases allowances a/c
Discount received a/c
Stock at end a/c
Or profit & Loss a/c
( Gross Loss )
DR. for the year ending ---/---/201-- CR.
Or Trading a/c
( Gross loss )
Rent a/c
Wages a/c
Water & Lighting a/c
Carriage out a/c
Fire insurance a/c
Advertising a/c
General expenses a/c
Bad debts a/c
Debit interest a/c
Capital a/c
( Net profit )
Trading a/c
( Gross profit )
Rent received a/c
Credit interest a/c
Coupons a/c
Or capital a/c
( Net Loss )
N.B. : DR =Debitside الجانب المدين
CR = credit side الجانب الدائن
Liabilities as at ---/---/201- Assets
Capital
(Less) – Drawings
XX
XX
Fixed assets
Buildings
- Depreciation
XX
XX
Add + Net profit
XX
XX
Furniture
- Depreciation
XXX
XX
XX
Fixed Liabilities
Long-term loans
XX
XX
Machines
- Depreciation
XXX
XX
XX
Current liabilities
Creditors
Bills payable
XX
XX
Current Assets
Stock at end
Debtors
Bills receivable
Securities
XX
XX
XX
XX
XX
XX
XX
XX
Other credit balances
Income received in advance
Accrued expenses
Liquid Assets
Bank
Cash
Other debit balances
Expenses paid in advance
Accrued income
XX
XX
XX
XX
XX
XX
XX
XX
XX
XX
- ASSETS : all things and right including intangible assets ( good will – patents ) owned by the business firm.
- Liabilities : including all debts or obligations due to paid liquidation within one year or one operating cycle of the business, also all dabts due to paid in more than one year or one operating.
· Example ( 1 )
The following is the trial balance of Menat Allah stores as at 31st., December, 2009.
( Sums in L.E. )
Furniture
Cars
Stock at first
Cash
Capital
Purchases
Purchases allowances
Sales
Sales allowances
Rent
Creditors
Debtors
Commission received
Water & Lighting expenses
Wages
Returns inwards
Returns outwards
Carriage in
Carriage out
Discount received
Discount allowed
Drawings
Bank
Additional data:-
· Stock at end was valued at 4000 as the price cost.
Required :
1- Prepare the Trading a/c and P. & L. a/c. for the year ending 31st., December 2009.
2- Prepare the balance sheet as at 31st., December, 2009.
DR. for the year ending 31/12/2009 CR.
Stock at first a/c
Purchases a/c
Returns inwards a/c
Sales allowances a/c
Carriage inwards a/c
Discount allowed a/c
Gross profit (P.& L. a/c.)
Sales a/c
Purchases outwards a/c
Purchases allowances a/c
Discount received a/c
Stock at end a/c
DR. for the year ending 31/12/2009 CR.
Rent a/c
Water & Lighting a/c
Wages a/c
Carriage out a/c
Capital a/c. (Net profit)
Trading a/c
( Gross profit )
Commission received a/c
Liabilities as at 31/12/2009 Assets
Capital
- Drawings
Fixed assets
Furniture
Cars
(Add) + Net profit
32000
18300
Current Assets
Stock at end
Debtors
Current liabilities
Creditors
50300
2500
Liquid Assets
Bank
Cash
17800
11500
52800
52800
The main financial statements of a firm are:
1- The income statement, which declares the net profit/loss of the firm over a certain period of time, it is the summary of the final accounts
2- The financial position statement, which declares the Assets, Liabilities and Equity of the firm at the end of the financial year. It is similar to the balance sheet.
· Forms of these statements are shown at the following:
For the year ended 31/12/201—
· sales
Sales discount
Less ( - ) Sales allowances
Sales returns
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image003.gif[/IMG]Net sales
Less ( - ) Cost of goods sold:
Beginning inventory
Add ( + ) Net cost of purchases
· purchases
( + ) Carriage in ( Transportation – in )
Purchases returns
Less ( - ) Purchases allowances
Purchases discount
· Cost of goods available for sale
Less ( - ) Ending inventory
· [IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image004.gif[/IMG]Cost of goods sold
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image005.gif[/IMG]Gross profit
Less ( - ) Operating expenses:
Selling expenses
General expenses
Debit interest
Add ( + ) other revenues:
Credit interest
Coupons
Rent received
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image006.gif[/IMG] Net income
The financial position statement at 31/12/201—
- Fixed Assets ( Net )
· Buildings
· Machinery
· Furniture
- Current Assets :
· Inventory ( ending )
· Debtors
· Bills receivable
· Securities
· Cash at Bank
· Cash at Hand
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- Other Assets:
· Expenses paid in advance
· Accrued income
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image008.gif[/IMG] Total assets
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image009.gif[/IMG]XXX
- Liabilities & owner's equity
- Owner's Equity
· Beginning capital
( + ) Net profit
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image010.gif[/IMG]XXX
( - ) Drawings
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image011.gif[/IMG]Ending Capital
Fixed Liabilities
Long-term loans
Current Liabilities
Creditors
Bills payable
- Other liabilities
· Accrued expenses
· Income received in advance
- Total Liabilities & OE.
- Every financial statement has a heading which indicates the following information:
· The name of title business.
· The title of the statement.
· The date of statement, or the accounting period covered by the statement
Example No. 2 : ( service firm )
-----------------------------------------
The following balances are extracted from the books of Ahmed Ali for cars services as at 31/12/2008 ( Sums in L.E. )
Debit balances :
Cash 62500 – Bills receivable 7000 – Wages 26000 – rent 4000 – Gaz and Oil 5500 – Debtors 5000 – Equipment 14000 – Truck 80000.
Credit balances :
Capital 120000 – Bills payable 3000 – creditors 4000 – Service revenue 77000.
Required :
1- The income statement as at Dec., 31, 2008.
2- The financial position statement as at Dec., 31, 2008.
1- Ahmed Ali cars services
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image012.gif[/IMG]5500
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image013.gif[/IMG]35500
2- Ahmed Ali cars services
Financial position statement
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image014.gif[/IMG]Total assets
Liabilities and owner's equity
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image015.gif[/IMG]Total of liability
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[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image012.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image012.gif[/IMG]41500
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image017.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image018.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image019.gif[/IMG]Example ( 3 ) :
The following is the trial balance of Nasr stores as at 31/12/2008 : ( Sums in L.E. )
· Debit balances:
Buildings 29000 – equipment 7000 – furniture 40000 – Beginning inventory 83000 – cash at hand 60000 - cash at bank 97000 – debtors 45000 – bills receivable 22000 – securities 85000 – drawings 10000 – purchases 403000 – sales discount 3000 – sales returns & allowances 9000 – selling expenses 12000 – rent 5000 – general expenses 10000 – wages and salaries 20000 – carriage in 6000.
· Credit balances:
Capital 240000 – purchases discount 12000 – purchases returns and allowances 8000 – long term loans 90000 – creditors 280000 – bills payable 22000 – coupons 18000 – sales 600000
· Additional data:
Ending inventory was valued 70000
· Required:
a- Prepare the income statement as at 31/12/2008.
b- Prepare the financial position statement as at 31/12/2008.
N.B.:
Purchases + carriage in = 409000
Purchases discount + returns & allowances = 20000
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Cost of purchases 389000
1- Nasr stores
Income statement As at 31/12/2008
Less ( - ) sales discount
Sales returns & allowances
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image021.gif[/IMG]Net sales
Less ( - ) cost of goods sold
Add ( + ) cost of purchases
Less ( - ) purchases discount
Purchases return & allowances
Cost of goods available for sale
Less ( - ) Ending inventory
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image022.gif[/IMG]Gross profit
Less ( - ) operating expenses
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image023.gif[/IMG]Net income
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image024.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image025.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image026.gif[/IMG]6000
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image027.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image028.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image028.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image024.gif[/IMG](8000)
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image029.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image029.gif[/IMG]20000
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2- Nasr stores
Financial position statement As at 31/12/2008
Buildings
Equipment
Furniture
Debtors
Bills receivable
Securities
Cash at bank
Cash at hand
Liabilities & owner's equity
Ending capital {owner's equity }
Total of liabilities and OE.
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image031.gif[/IMG]40000
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image032.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image033.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image031.gif[/IMG]60000
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image032.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image034.gif[/IMG]22000
N.B. :
owner's Equity=
Beginning Capital{+}Net income{-}Drawings
240000{+}157000{-}10000=387000
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- Net sales = sales – ( sales discount + sales returns and allowances )
- Net cost of purchases = ( purchases at the invoice price + purchases expenses ) – ( purchases discount + purchases returns and allowances ).
- Cost of goods sold = Beginning inventory
+ Net cost of purchases
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image036.gif[/IMG]
Cost of goods available for sale
- Ending inventory
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image037.gif[/IMG]
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image038.gif[/IMG] Cost of goods sold
- Gross profit = Net sales – cost of goods sold
- Net profit = ( Gross profit – Current expenses ) + other revenue
Key terms of chapter (1 )
Inventory adjustments
Firm
Financial position
Final accounts
Trading account
Profit & loss account (P.& L. a/c)
Balance sheet ( B/ S )
Financial statements
Gross profit
Gross loss
Net profit
Net loss
Assets
Fixed assets
Current assets
Liabilities
Securities
Investments
Accrued income
Expenses paid in advance
Income received in advance
Accrued expanses
Commission
Income statement
Financial position statement
تسويات جردية
شركة ( منشأة )
المركز المالي
حسابات ختامية
حسابات متاجرة
حساب الأرباح والخسائر
ميزانية عمومية
قوائم مالية
مجمل الربح
مجمل الخسائر
صافي الربح
صافي الخسارة
أصول
أصول ثابته
أصول متداولة
خصوم
أوراق مالية
استثمارات
ايراد مستحق
مصروفات مدفوعة مقدما
ايراد مقدم
مصروفات مستحقة
عمولة
قائمة الدخل
قائمة المركز المالي
owner's equity statement
commercial firm
service firm
a partnership
a proprietorship
share holders
sources
Beginning inventory
Ending inventory
Cost of goods available for sale
Credit interest
Coupons
Net income
Sales returns
Purchases returns
Sales allowances
Purchases allowances
Sales discount =
Discount allowances
Purchases discount =
Discount received
Bills payable
Bills receivable
Debit side = Dr.
Credit side = Cr.
Carriage in
Carriage inwards
Carriage out
Carriage outside
Long-term loans
Bad debts
Creditors
Debtors
قائمة حقوق الملكية
منشأة تجارية
منشأة خدمية
شركة أشخاص
منشأة فردية
حملة الأسهم
مصادر
مخزون أول المدة
مخزون آخر المدة
تكلفة البضاعة المعدة للبيع
فائدة دائنة
كوبونات أوراق مالية
صافي الدخل
مردودات مبيعات
مردودات مشتريات
مسموحات مبيعات
مسموحات مشتريات
خصم على المبيعات ( مسموح به )
خصم مسموح به
خصم على المشتريات ( مكتسب )
خصم مكتسب
أوراق دفع
أوراق قبض
جانب مدين
جانب دائن
نقل للداخل
نقل للداخل
نقل للخارج
نقل للخارج
قروض طويلة الأجل
ديون معدومة
دائنون
مدينون
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Contents :-
- Definition of Banks or Banking.
- Kinds of banks.
- The main function of commercial banks.
- Kinds of accounts.
- Steps of opening a current account.
- Bank statement of account.
- Key terms
Definition :
Bank is a dealer in money, he is an intermediate party between the borrower and the lender, he borrows from one party and lends to another.
There are many types of banks which are serving different needs of society.
■ Commercial Banks:-
■ Central Bank :-
This bank is the bank of government which controls the money and credit being ultimate controller of other banking institutions.
Functions of central Bank:-
1- Bank of issue .
2- Banker to the government.
3-Banker's bank :-
The central bank controls and guids the commercial banks.
4-Lender of the last resort .
5-Custodian of Nation's Reserves of International Currencies.
6-Clearing functions.
7-The controller of credit .
· Industrial Banks :-
Functions of industrial banks:
- Accepting of long-term deposits.
- Permitting of long-term investments.
- Advising for the advancement of growth of industries.
· Agricultural Banks:-
These banks meet the financial requirements of agricultural.
These banks guarantee long-term loans to making improvements in agricultural land, buying the tractors and pumping sets .
· Saving Banks:-
These banks accept small savings from the people and invests their funds in the safest and government securities.
The commercial banks are financial institution that receives deposits from natural and legal persons and lends out loans and credit facilities to borrowers.
- The main functions of commercial banks :-
1- Accepting of deposits : such as
- Credit current account.
- Time deposits.
- Notice deposits.
- Saving accounts.
- Saving certificates.
2- Advancing of loans : such as
- Bank overdraft.
- Bank loan.
- Bank credit account.
- Debit current account.
3- Granting of credit facilities against the security of assets such as:
- Bills receivable, investments, cotton, export documents.
- Discounting of home and foreign bills receivable.
4- Transfer of cash at home and abroad:
- Issue of bank's draft.
- Issue of foreign banker's draft and traveler's cheques.
- Payment of outward money orders and inward money orders.
5- Providing of foreign currencies :
6- Safe custody :
Banks receive valuable things of their customers such as :
- Investments
- Owner ship deed
- Wills and jewelleries for safe custody
7- Facilitaing foreign trade operation :
- By opening documentary credit.
8- Receiving of cheques and bills under collection.
9- Purchase and sale of securities on behalf of their customers against commission.
10- Acting as agents and trustees.
Commercial banks offer many types of accounts kept by each department such as :
· Current account and saving account.
1- The current account:
It is an account in the name of the customer who may be a person.
· The customer can be withdraw any sum when he requires on demand from his balance.
· The customer can be withdraw by cheques, cash drawing receipt .
· The commercial banks do not pay interest on the credit balance of the current accounts.
2- The time deposit account:
· It is an account in the name of the customer who may be a person.
· The customer deposits a sum of money for a certain period.
· The customer can be withdrawn by cash drawing receipt.
· The commercial banks offers interest at a certain rate..
3-The notice deposit account:
· It is an account in the name of the customer who may be a person .
· The customer can not be withdraw the balance except after notice has been given to the bank ( one or two weeks )
· The customer can be withdrawn by cash drawing receipt.
· The commercial banks offers interest at a rate that varies with the length of the notice period
4-Saving accounts :
· It is an account in the name of the customer who may be a person.
· The customer can open an account with a little sum as L.E. 10.
· The balance can be withdraw at any time on demand.
· Deposit and withdraw are records of saving book, which the customer keep it with him.
· This accounts are insured by the government.
· The commercial banks offer interest at a certain rate.
The steps of opening a current account :
The steps of opening a current account with commercial bank differ from one bank to another, but there are basic steps that are common to all banks, these steps are as follows:
1- The customer must present the necessary documents that identify his personality or legal statue to the bank .
2- The current accounts department records the information of the customer on " application form'' .
3- The current accounts department checks it's customers index to make sure that there is no other current account in the name of the customer.
4- The current accounts department asks the customer ( who have the right to sign ) to make out specimen signature ( e.g. 3 signatures ) on a form called ( specimen signature form ).
5- The current accounts department gives a number to the newly opened current account and informs the customer of his account number.
6- The current accounts department prepars (a deposit slip) in an original and two copies including:
· The customer's name and his address.
· The customer's account number.
· The amount to be deposited and the date of deposit.
· The signature of the customer and the staff of current account department.
7- The customer pays into bank the amount of cash and receives the original of the deposit slip as a receipt after it is signed by the cashier.
8- The customer applies ( a cheque book ) for drawing money required.
· He can also withdraw cash from his current account by " banks payment slip " or using plastic card and credit card.
The Bank statement of Account
Most banks send a bank statement of account that shows additions to and subtractions from an account during a specific period according to the bank's records.
The bank statement of account shows the following information:
1- Name and address of account holder.
2- Account number.
3- Period covered by statement.
4- The balance of the beginning of the period.
5- The credits to the current account which are made in different ways:
a) Cash deposit with the bank.
b) Collections of cheques.
c) Collections of bills receivable.
d) Collections of investment coupons.
e) Sales of investments.
6- The debits to the current account which are made in different ways:
a) Withdrawals of cash by means of cheques.
b) Withdrawals of cash by means of payment slip.
c) Withdrawals of cash by means of plastic card into " ATM''.
d) Withdrawals of cash by means of credit cards.
e) Purchases of investments.
f) Payment of bills payable.
g) Payment of premiums to insurance companies, telephone bills, water and lighting expenses and other payments.
h) Bank commissions and charges.
7- The balance at the end of the period.
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image042.gif[/IMG]The following is a sample form of the bank statement of account :
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image043.gif[/IMG]Bank name
and his branch. Stamp
The statement of account No. :------
Customer's name: ----------------------- . Account No.: ------------------- .
and his address
For the period ------ / ----- / 20----- To -----/ ------/ 20-----
20--
B/L at Beginning
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image044.gif[/IMG]XX
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[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image046.gif[/IMG][IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image047.gif[/IMG]your balance as at ( end of period ) is L.E.---- =
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P.P. Current Account Dept P.P. General Accounts Dept.
( XX ) ( XX )
Signature Signature
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image050.gif[/IMG]Example : " 1 "
The following are transactions took place between Alex. bank, Benha – and his customer Ali Nour stores, 5 Nasser st., Benha, during the month of June, 2009 :
Balance as at 31st, May, 2009 L.E. 17000
June, 5, 2009 Cheque No. 511 drawn L.E. 5000
June, 6, 2009 cash deposit, deposit slip No. 30 L.E. 4500
June, 9, 2009 Withdrawals by plastic card L.E. 2200
June,12, 2009 purchased investments L.E. 3800
June,15, 2009 collection of Bills receivable 201 L.E. 9500
June,17, 2009 cash withdrawn, payment slip No. 200 L.E. 3000
June,20, 2009 investments coupons collected L.E. 6200
June,23, 2009 bank commission and charges L.E. 800
June,25, 2009 withdrawals by credit card L.E. 3000
June,27, 2009 cash deposits, deposit slip No. 77 L.E. 8700
June,28, 2009 sales of investments ( C/N No. 50 ) L.E. 5300
June,30, 2009 electricity bill No. 66 paid L.E. 400
Required :
Prepare the bank statement No.320 for the month of June, 2009, if you know that:
· The customer's account No. is 503
· The current accounts department responsible official is Mr. Said Sabbah.
· The general accounts department responsible official is Mr. Ahmed Gamal.
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ِِAlex. bank, Stamp
The statement of account No.: 320
Customer's name: Ali Nour Stores, Account No.: 503
For the period 1/6/2009 To 30/6/2009
Balance at beginning
Payments, Cheque No. 5,,
Deposits, deposit slip No. 30
Payments, plastic card
Purchased investments
Collections – Bills receivable 201
Payments, payment slip No. 200
Collection– investments coupons
Commission and charges
Payments – credit card
Deposits – deposit slip No. 77
Sales of investments
Payments – Electricity Bill No. 66
Your balance as at June, 30, 2009 is L.E. 33000
P.P. Current Account Dept. P.P. General Accounts Dept.
XX XX
Mr. Said Sabbah Mr. Ahmed Gama
Key Terms of Chapter ( 2 )
Banker
مصرفي
Institutions
مؤسسات
Financial
مالي
Function
وظيفة
Profit – Income
ربح – دخل
National Economic
إقتصاد قومي
Borrower
مقترض
Lender
مقرض
Owners
ملاك
Investors
مستثمرون
Investments
استثمارات
Project
مشروع
Development
تنمية
Granting
منح
Loans
قروض
Interest
فائدة
Credit
دائن
Debit
مدين
Rate
معدل
Advancing of Loans
تقديم قروض
Commercial Banks
بنوك تجارية
Central Bank
بنك مركزي
Industrial Banks
بنوك صناعية
Agricultrial Banks
بنوك زراعية
Saving Banks
بنوك إدخار
Cooperative Bank
بنك تعاوني
Accepting deposits
قبول ودائع
Transferring money
تحويل أموال
Trustees
أمناء
Broker
سمسار
Securities
أوراق مالية
Coupons
كوبونات أوراق مالية
Great Credit
خلق ائتمان
Issue
يصدر ( إصدار )
Withdraw
يسحب
Suggest
اقتراح
Funds
أموال
Growth
نمو
Advising
النصح
Tractors
جرارات
Pumping sets
مضخات ماء
Seeds
بزور
Manure
سماد
Individuals
أفراد
Partnership
شركة تضامن
Joint stock company
شركة مساهمة
Small saving
مدخرات صغيرة
Current accounts
حسابات جارية
Saving certificates
شهادات ادخار
Saving accounts
حسابات توفير
Time deposits
ودائع لأجل
Notice deposits
ودائع بإخطار سابق
Safe custody
حفظ الأمانات
Hiring
تأجير
Maintain
يحتفظ
Reserves
احتياطيات
Resort
ملجأ
Valuable ornaments
حليات قيمة
Jewels
مجوهرات
Owner ship deeds
وثائق الملكية
Wills
وصايا
Short – term
قصير لأجل
Long – term
طويل لأجل
Commissions
عمولات
On demand
عند الطلب
Deposit slips
قسائم الإيداع
Payment slips
قسائم أو إيصالات الدفع
Identity Card
بطاقة إثبات شخصية
Residence card
بطاقة الإقامة
Cashier
الصراف – أمين الخزينة
Natural person
شخص طبيعي
Legal person
شخص قانوني
Specimen signature form
نموذج توقيع
Delegate – delegation
يفوض – تفويض
Fiscal agent
وكيل مالي
Respective government
خاص بالحكومة
Credit card
بطاقة ائتمان
Plastic Card ( into ATM )
بطاقة بلاستيكية
Bank statement of account
كشف حساب البنك
Credit Facilities
تسهيلات ائتمانية
Safe custody
حفظ الأمانات
Bank of issue
بنك الإصدار
Banker of government
بنك الحكومة
banker's Bank
بنك البنوك
Lender to the last resort
الملجأ والمقرض الأخير للبنوك
Controller of credit
مراقبة الائتمان
Custodian of Nation's Reserves of international currencies
الحارس على الاحتياطي من العملات الأجنبية
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Contents :-
- Definition of meeting
- Duties of secretary:
Before, During and after the meeting.
- Preparing the : Notice, Agenda and Minute of meeting.
- Key terms
A meeting is a gathering of people for special purpose
for taking decisions to improve the organization.
- Duties of a secretary before the meeting:
The secretary must do the following duties before the meeting:-
1- Send a notice to the members informing them by the date, time and place of meeting.
2- Prepare the agenda of the meeting in consultation with the boss.
3- Book a suitable and well prepared place for the meeting .
4- Must obtain any necessary papers or documents from members who for any reason cannot be present.
5- Collect the following items required for the meeting.
- Duties of a secretary on the day and during the meeting:-
1- A secretary on the day of the meeting must go earlier to prepare and arrange the papers, documents and files needed during the meeting.
2- Arrange for direction signs which would lead the members to the room of the meeting.
3- Make sure that the seating arrangements are in order.
4- Record the names of present and absent members.
5- Ensure that the quorum of the members present is correct.
6- A secretary will read the minutes and decisions made or taken on the last meeting.
7- Record a brief and accurate minutes and decisions taken at the meeting.
- Duties of the secretary after the meeting:
1- Write up the minutes recorded in the meeting, minute should be written in the past tense.
- Minutes should be clear, accurate and brief.
2- Ensure that all documents are returned to the office.
1- The notice:
It is an invitation to attend the meeting and must be informed of the date, the time, purpose and place of the meeting.
2- The agenda:
It is a list of items of business issues which are to be discussed at the meeting.
3- The minute:
It is a record of business transacted and the resolution passed.
4- The quorum:
Is the minimum number of members needed to start a meeting.
This minimum number is determined by the rules of the organization which is different from one organization to another.
Example :
Mr. Said Behery the vice president for Exporting & Importing Co.,5 Adly st., Cairo., has asked his private secretary Mr.Ahmed Tarek to call for the regular monthly meeting of directors team which will be held on June, 25, 2010 at 10.30 am., in the conferences room to discuss the report offered by the director of purchases department ( Mr.Ali Hasan )
You are required to do:
1- A notice to Mr. Mohamed Gamal, director of sales department dated June, 12, 2010.
2- An Agenda for the meeting.
3- The minute of the meeting ( date of next meeting was fixed on Monday, Oct., 25, 2010 )
[IMG]file:///C:/DOCUME%7E1/AHMEDM%7E1/LOCALS%7E1/Temp/msohtml1/01/clip_image056.gif[/IMG]The answer
Cairo for Exporting & Importing Co., June, 12, 2010
5 Adly st.,
Cairo.
Mr. Mohamed Gamal
Director of sales department
A meeting of directors team will be held in conferences room on June, 25, 2010 at 10.30 am to discuss the report offered by the director of sales department.
Cairo for Exporting & Importing Co., June, 12, 2010
5 Adly St.,
Cairo.
MEETING June, 25, 2010 – Conference room.
1- The Approval for the prior minute.
2- Discussing unfinished business.
3- Discussing the report offered by the director of purchases department.
4- Any other business.
3-The Minute of the meeting
Cairo for Exporting & Importing Co.,
5 Adly st.,
Cairo.
Held in conferences room at June, 25, 2010
Present:
Mr. Said Behery Chairman
Mr. Mohamed Gamal
Mr. Ali Hasan
Mr. Amr Gamal
Mr. Ahmed Tarek Secretary
Mr. Abd El-Aziz Ali Treasurer
Absent:
Mr. Sayed Anwar
Minutes of the last meeting:
The minute of the last meeting has been read, adopted and signed by the Chairman.
Matters Arising:
Mr.Ali Hassan offered a plan for purchases policy and stocking within the next period.
Any other business:
The date of the next meeting:
The date of the next meeting was fixed on Monday, Oct., 25, 2010
Meeting and conferences
Gathering
Purpose
Concerning
Taking decisions
Improve
Organization
Held
To Book
Attend
Members
Notice
Agenda
In consultation
Chairman ( Boss )
Vice
Spare copies
Treasurer
Relevant
Direction signs
Present
Absent
Accurate
Invited
Lead to
Minute
Prior
Quorum
Resolution passed
Minimum
Ministry
Department
Adopted
الاجتماعات والمؤتمرات
جمع
غرض
يتعلق ب
اتخاذ القرارات
يحسن
منظمة ( مؤسسة )
يعقد
يحجز
يحضر
أعضاء
إخطار بالاجتماع ( دعوة للاجتماع )
جدول الأعمال
بالتشاور
رئيس
نائب ( وكيل )
نسخ إضافية
أمين الصندوق
وثيق الصلة بالموضوع
علامات توجيه ( علامات ارشادية )
حاضر
غائب
دقيق
يدعو
تؤدي إلى
محضر الاجتماع
السابق
العدد القانوني
القرارات التي اتخذت
الحد الأدنى
وزارة
إدارة
صدق على ( أقر )
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Contents :-
- Duties of the secretary before the boss leaves.
" Preparing the trip schedule "
- Duties of the secretary while the boss is a way.
- Duties of the secretary when the boss comes back.
- Key Terms.
If your boss has to make a business trip, you will have to take part in the preparation and the planning of this trip. There will be many duties for you to do either before he leaves , while he is absent and after he returns back from the trip.
Duties of the secretary before the boss leaves
1- The secretary must get the necessary information about the trip from his boss.
2- The secretary must get " a visa " on his boss passport and be sure that it is valid till he comes back .
3-The secretary must get a " Health certificate " to show that his boss has taken " the vaccines" that enable him to enter the foreign country.
4-The secretary must convert the local money required for the trip into foreign currency required .
5-The secretary must prepare a trip schedule for his boss containing appointements and meetings according to dates & times.
6-The secretary must be sure that his boss must carry with him a copy of the trip schedule,Important documents and papers needed , and Telephone numbers and addresses of persons needed on the trip.
Duties of the secretary while the boss is away
1- Follow his boss instructions carefully.
2- Treat with the mail of the office and personal letters & subject according to the instructions permitted by the boss.
3- Change or cancel the appointments agreed upon by the boss before he leaves .
4- Make a list of telephone calls and make a record for callers of the office as for .
Duties of the secretary when the boss Returns back
1- He must tell him of the new matters and things appeared with him during his absence.
2- The secretary must present to his boss a summary of the mail and e_mails that had been received during the time of the trip and also about his personal matters.
3- The secretary must also present him all the papers and documents that require his quick attention & signature.
4- Hand him a list of telephone callers and those visited the office during his absence in the trip (name and purpose).
5- Gives him his dairy note with appointments which had been re-arranged with new ones due to his absence in the trip.
· Preparation of trip schedule
A specimen of how to prepare a trip schedule :
Example :
As you are a secretary, your boss is wishing you to prepare for him a trip schedule in London from Sunday 2nd Jan, 2009 to Tuesday 4th Jan, 2009 to attend the international Exhibition there.
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From : Sunday 2nd Jan. To : Tuesday 4th Jan.
Sunday, 2nd Jan. , 2009
· Departure – Cairo Airport
Egypt air Flight No. : ………….
· Arrival – London Airport
· Cheek – in Hilton Hotel , …………
Monday, 3rd Jan, 2009
· Meeting for businessmen attending
The Exhibition at the center hall
· Dinner held by …. Co., at Sheraton Hotel
Tuesday 4th Jan. , 2009
· Leaving Hilton Hotel
· Departure ….. Airport
· Arrival …… Airport
Travel services
Trip schedule
Approval
Travel department
Arrangements
Reservations
Visa
Valid
A health certificate
Vaccines
Convert
Currency required
Treat
Permitted authority
Cancel
Before leaving
Record
خدمات السفر
جدول الرحلة
موافقة
إدارة السفريات
الترتيبات
الحجوزات
تأشيرة
ساري المفعول
شهادة صحية
التطعيم
تحويل
العملة المطلوبة
التعامل
السلطة الممنوحة
إلغاء
قبل السفر
سجل
purpose of visit
Results
New matters
Summary of the mail
Require
Lists
Dairy
Attend
International exhibition
Departure
Egypt air
Flight Number
CairoAirport
Arrival
Check – in
Lunch
Main resturant
Businessmen
Center hall
Dinner
الغرض من الزيارة
نتائج
الأمور الجديدة
ملخص البريد
يتطلب
قوائم
مفكرة يومية
يحضر
المعرض الدولي
مغادرة
مصر للطيران
رحلة رقم
مطار القاهرة
وصول
راجع
الغذاء
المطعم الرئيسي
رجال الأعمال
القاعة المركزية
عشاء
المفضلات