RMG Financial Management
ACCOUNTING SYSTEM 3
1.1 Basis of accounting 3
1.2 Method of accounting 3
1.3 Accounting period 3
1.4 Accounting policies 3
1.4 Financial statements 3
CHAPTER - 2 3
FINANCIAL MANAGEMENT & CONTROL 3
2.1 General 3
2.2 Custody of resources 3
2.3 Bank account 3
2.4 Opening and closing of bank account 3
2.5 Bank signatories 3
2.6 Main cash management 3
2.7 Petty cash management 3
2.8 Internal control 3
2.9 Advance adjustment request 3
2.10 Approval of expenditure 3
2.11 Verification of vouchers 3
2.12 Functions of verifying officer 3
2.13 Authorisation of vouchers 3
2.14 Responsibilities of approving and verifying officers 3
2.15 Payments 3
2.16 Receipt of money 3
2.17 Salary payments 3
2.18 Withholding tax 3
2.19 Deposit of Income tax 3
2.20 Inter Company transaction 3
2.21 Compliance with the Policy 3
CHAPTER - 3 3
VOUCHERS 3
3.1 Introduction 3
3.2 Receipt voucher 3
3.3 Payment voucher 3
3.4 Contra Voucher 3
3.5 Journal Voucher 3
CHAPTER-4 3
PAYMENT OF ADVANCE 3
4.1 Policy 3
4.2 General 3
4.3 Papers/Documents 3
4.4 Advance to staff 3
4.5 Advance for purchase 3
CHAPTER-5 3
BUGET AND BUDGETARY CONTROL 3
5.1 Introduction 3
5.2 Preparation of the budget 3
5.3 Review of budget 3
5.4 Budget approval 3
5.5 Monitoring of budget 3
CHAPTER - 6 3
MAINTAINING AND EFFECTIVE ACCOUNTING SYSTEM 3
6.1 Policy 3
6.2 General 3
6.3 Responsibility 3
6.4 Presentation of financial statements 3
6.5 Contents of financial statements 3
6.6 General Ledger setup and posting 3
6.7 General Ledger Activities 3
6.8 Vouchers 3
6.9 Numbering of vouchers 3
6.10 Documentation 3
CHAPTER-7 3
STORES ACCOUNTS 3
7.1 Organization 3
7.2 Function 3
7.3 Pricing of Materials against MRR related to foreign purchase 3
7.4 Pricing of Materials against MRR of Local Purchase 3
7.5 Pricing of Materials against MRR for Cash Purchase 3
7.6 Pricing of Materials against MRR issued for Materials Received on Loan 3
7.7 Pricing of Materials against SRM 3
7.8 Pricing of Stores Transfer Memo 3
7.9 Pricing of Materials against Stores Requisition (SR) 3
7.10 Store issued on loan to sister concerns 3
7.11 Physical Inventory Taking of Stores 3
7.12 Accounting of Logistic items 3
CHAPTER-8 3
FIXED ASSETS 3
8.1 General 3
8.2 Policy 3
8.3 Books/Records to be maintained 3
8.4 Transfer of Fixed Assets 3
8.5 Depreciation 3
8.6 Disposal of Fixed Assets 3
8.7 Disposal committee 3
8.8 Existence of fixed assets 3
CHAPTER-9 3
AUDIT 3
9.1 Introduction 3
9.2 Policy 3
9.3 Internal Audit 3
9.4 Responsibilities of Internal Auditor 3
9.5 External Audit 3
9.6 Special Audit 3
ANNEXURE-01: GENERAL GUIDELINES ON FINANCIAL POWERS 3
ANNEXURE-02: POWER TO SANCTION GENERAL OFFICE EXPENDITURE 3
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