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Basic Concept of FM

Where as there is a legitimate concern among the government, donors and the stakeholders about accountability and transparency of the NGO’s financial operation. Financial Management is the major area of SAS management system, which controls and guides our organization in a very effective and transparent way. Therefore, every organization requires a financial management system. Accounting or book keeping is the subset of financial management system. SAS's Financial management systems can be broken down into administrative systems and accounting systems:


  
 

Administrative systems assist our Managers in making administrative planning, communicating, controlling and deciding over financial management.

Our accounting is concerned with identifying financial information, expressing the information in numeric terms and communicating this information to interested parties. An accounting system provides the framework for this to happen. However, administrative and accounting systems may be required to change over time in relation to changes within the environment and changing information needs.

Banking Operation

SAS maintains 2 sorts of bank account such: i) Mother A/C and ii) Project A/C to accumulate the Fund, receiving from different sources. All Bank A/Cs are operated through joint signature. The Executive Director, the Chairman and Treasurer of Executive Committee of the organization are authorized for Mother Bank A/C and Executive Director, Coordinator (Finance and Admin.) and Coordinator (Program Implementation) or concerned project/ program head are authorized for Project Bank A/C operation. Financial management is maintained under the rule of existing Finance Manual of the organization. The Mother Bank Account of the Organization is at the following Bank-

 

A/C No. (STD): 87

Pubali Bank Ltd. - Rangamati Branch.

P.O.- Rangamati-4500, Chittagong Hill Tracts, Bangladesh.