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Bangladesh Cricket Board Financial &

Accounting Manual

BANGLADESH CRICKET BOARD

FINANCIAL & ACCOUNTING MANUAL

Prepared by:

HUSSAIN FARHAD & CO.


Chartered Accountants
House # 15, Road # 12, Block-F, Niketon,
Gulshan-1, Dhaka-1212

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Bangladesh Cricket Board Financial &
Accounting Manual

BANGLADESH CRICKET BOARD


FINANCIAL & ACCOUNTING MANUAL
TABLE OF CONTENTS

SL CHAPTER PAGE NO.


#

CHAPTER 1 INTRODUCTION
1.00 About Bangladesh Cricket Board 6
2.00 Preamble 6
3.00 Financial Accounting Objectives 7
4.00 Accounting and Auditing Requirements 8
5.00 Accounting Offices 8
6.00 Accounting Year 9
7.00 Books of Accounts 9

CHAPTER 2 ACCOUNTING POLICIES

8.00 Basis of Accounting 10


9.00 Accounting Responsibility 10
10.0 Accounting Policies of Bangladesh Cricket Board 10
0
11.0 Currencies 17
0
12.0 Accounting Assumptions of Bangladesh Cricket 18
0 Board
13.0 Characteristics of Financial Transactions & 18
0 Statements
14.0 Procedure for Recording Transactions 18
0
15.0 Preparation of Daily Cash & Bank Balance 19
0 Statement
16.0 Passing Adjusting Journal & Closing Entries 19
0
17.0 Preparation of Trial Balance 19
0
18.0 Reporting of Accounting Offices 19
0
19.0 Activity Chart of Transactions and its 20
0 documentation
20.0 Financial Accounting Flow Chart 22
0

CHAPTER 3 BUDGET AND BUDGETARY


CONTROL
21.0 Introduction 23
0
22.0 Process of Budget Preparation 23
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23.0 Budget Period and Format 23


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24.0 Budgetary Control 24
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25.0 Budget Monitoring 24
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26.0 Budget Variance Analysis 25
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27.0 Line Item Flexibility 25
0
28.0 Transfer of funds among budget lines 25
0
29.0 Submission of fund requisition 25
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CHAPTER 4 BOOKS OF ACCOUNTS


30.0 Introduction 26
0
31.0 Cash Journal Debit / Payment Voucher 26
0
32.0 Cash Journal Credit / Receipts 26
0
33.0 Bank Journal Debit / Payment Voucher 26
0
34.0 Bank Journal Credit / Receipts 27
0
35.0 Journal Voucher For Adjustments/Non Cash 27
0 Transactions
36.0 Cash Journal Register 28
0
37.0 Bank Journal Register 28
0
38.0 Control General Ledger 28
0
39.0 Subsidiary Ledger 29
0
40.0 Bank Reconciliation Statement 29
0
41.0 Formats to be Used 29
0
42.0 Erasing & Overwriting Prohibition 30
0
43.0 Conclusion 30
0
44.0 List of Books of Accounts 30
0
45.0 Chart of Accounts 31
0
46.0 Backup Documents 31
0
47.0 Numbering of Documents 31
0
48.0 Records Keeping 31
0
49.0 Exchange Rate 32
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CHAPTER 5 WRITING PROCEDURE OF


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FORMS, VOUCHERS & RECORDING BOOKS


50.0 Instructions to write up Cash Journal 33
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51.0 Instructions to write up Bank Journal 33
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52.0 Instructions to write up Journal Voucher 34
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53.0 Instructions to write up Revenue Voucher 35
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54.0 Instructions to write up Cash Journal Register 35
0
55.0 Instructions to write up Bank Journal Register 36
0
56.0 Instructions to write up Control General Ledger 37
0
57.0 Instructions to write up Bank Reconciliation 37
0 Statement

CHAPTER 6 MAINTENANCE OF
REGISTERS
58.0 Types of Registers 38
0
59.0 Fixed Assets Register 38
0
60.0 Salary & Payroll Payment Register 38
0
61.0 Cheque Issue Registers 38
0
62.0 Cheque/DD/PO Receipt Registers 39
0
63.0 Income Tax Register 39
0
64.0 VAT Register 39
0
65.0 Stock & Store Register 39
0
66.0 Bill Register 40
0
67.0 Petty Cash Register 40
0
68.0 Advance Slip / IOU Register 40
0
69.0 Budget Register 41
0
70.0 Agreement Register 41
0
71.0 Work Order Register 41
0

CHAPTER 7 FINANCE & ACCOUNTS


ACTIVITIES
72.0 Finance & Accounts Activities 42
0
73.0 Treasury, Bills & Salary Activities 42
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74.0 General Accounting, Ledger and Final Accounts 43
0 Activities
75.0 Revenue Accounting Activities 43
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76.0 Purchase, Stock & Store Accounting Activities 43
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77.0 Budgeting, Tax and Internal & External 43
0 Reporting Activity

CHAPTER 8 CASH TRANSACTION


78.0 Duration of Cash Transaction 45
0
79.0 Closing of Accounts 45
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80.0 Daily Cash Holding Limit 45
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81.0 Handling of Cash 45
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82.0 Cash Scroll 46
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83.0 Cash Security 46
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84.0 Receipt in Cash Section 46
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85.0 Petty Cash and Payment limit 46
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86.0 Cash Deposited into Bank 47
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87.0 Custody & Safeguarding of cash 47
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BANK TRANSACTION
88.0 General 48
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89.0 Procedure of Opening Bank Account 48
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90.0 Title of Bank Account 48
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91.0 Unit Offices (Outside Dhaka) Bank Accounts 48
0
92.0 Operation of Bank Accounts 48
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93.0 Signatories Details 48
0
94.0 Cheque Counterfoil 49
0
95.0 Cancellation of cheques 49
0
96.0 Canceled Cheques 49
0
97.0 Cheque Issue Register 49
0
98.0 Demand Draft, Cheque & Payorder Receipt 49
0 Register
99.0 Payment from Bank 49
0
100. Withdrawal of Cash from Bank 49
00
101. Bank Statement and Bank Certificate 50
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102. Bank Reconciliation Statement 50


00
103. Ordering of New Cheque book 50
00
104. Safety of Cheque Books 50
00
105. Receipts of Cheque / Demand Drafts PayOrder 51
00
106. Dishonour of Cheques 51
00
107. Payment for Lost Cheques 51
00
108. Closure of Bank Account 51
00

FUND MANAGEMENT
109. Operational Bank Accounts 52
00
110. Fund Management 52
00
111. Investments 52
00
112. Loan 52
00
113. Advance 52
00
114. Sale of Commercial Rights and Sponsorship 53
00
115. Procedure of Receiving Money 53
00
116. Payment Procedure 56
00
116. Payment Procedure on Specific Payment 56
01
116. Responsibility of the Requisitioner 65
02
116. Responsibility Finance division 65
03
116. Cheque payments 66
04
116. Cash payment system 66
05
116. Matters to be considered at the time of payment 67
06

EXPENDITURE
117. Expenditure Management Policy 67
00
118. Expenditure Process 70
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119. Procurement Procedure 70
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120. Requirements for Reimbursement of Expenditure 70
00
121. Expenditure Report Approval and Submission 71
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CHAPTER 9(A) INTERNAL CONTROL


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122. Introduction and Concept 80


00
123. Internal Control Categories 80
00
124. Classification of Control Procedures 81
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125. Internal Check System 81
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126. Payment Management 82
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127. Payment for Services 83
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128. Payment of Salaries 83
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129. Management of Receipts 84
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130. Staff Advance and its Liquidation 84
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131. Physical Inventory Counting & Checking 84
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132. Preservation of Accounting Records 85
00

CHAPTER 9(B) AUDIT AND ANTI


CORRUPTION STRATEGY
133. External Audit 86
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134. Internal Audit 87
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135. Anticorruption Strategy 89
00

CHAPTER 10 PAYMENT OF SALARY &


ALLOWANCE

136. Introduction 91
00
137. Salary Payment 91
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138. Some Noteworthy Points with Regard to Payment 91
00
139. Attendance Register & Statement 91
00
140. Leave Statement 92
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141. Procedures of Salary Payment 92
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142. Timing of Salary Payment 92
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143. Deduction from Salary 92
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144. Overtime Management 92
00
145. Telephone 93
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CHAPTER 11 ADVANCES, DEPOSITS &


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PREPAYMENTS

146. Introduction 94
00
147. Types of Advances to be allowed 94
00
148. Staff Advances against Traveling 94
00
149. Staff Advances against Purchase 95
00
150. Staff Advances against program Expenses 96
00
151. Third Party Advance against House Rent 97
00
152. Third Party Advance against Material 97
00 Suppliers/Contractors
153. Third Party Advance against Service Providers 98
00
154. Authorization of Advances 98
00
155. Internal Control in Advance Management & 98
00 Accounting

CHAPTER 12 FIXED ASSETS &


DEPRECIATION ACCOUNTING
156. Concept 100
00
157. Introduction 100
00
158. Safe Custody of Fixed assets 100
00
159. Procurement of Fixed Assets 100
00
160. Fixed Assets Registration 101
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161. Classification of Fixed Assets 101
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162. Identification of Fixed Assets 102
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163. Depreciation & Its Accounting 102
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164. Sale of Fixed Assets 102
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165. Accounting for Fixed Assets 103
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166. Fixed Assets Register 104
00
167. Instruction to Write up of Fixed Assets Register 104
00
168. Physical Counting of Fixed Assets & Reporting 105
00
169. Damage, Loss & Destruction and Insurance 105
00
170. Use of Fixed Assets on Payment 105
00

CHAPTER 13 FINANCE COMMITTE AND


DELEGATION OF AUTHORITIES
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171. Finance Committee 106


00

CHAPTER 14 CORPORATE GOVERNANCE 110

CHAPTER 15 FINANCIAL REPORTING

172. Annual Financial Statements 111


00
173. Responsibility for Financial Statements 111
00
174. Components of Financial Statements 111
00

Appendix Annual Budget 114


A

Appendix Chart of Accounts 116


B

Appendix Bill Register 121


C

Appendix Expenditure Note Sheet 122


D

Appendix Advance Requisition Form and IOU Form 123


E

Appendix Agreement Register 124


F

Appendix Conveyance Bill 125


G

Appendix Tour Program 126


H

Appendix TA / DA Bill 127


I

Appendix Cheque / Advice Register 128


J

Appendix Invoice 129


K

Appendix Miscellaneous Bill 130


L

Appendix Money Receipt 131


M

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Appendix Requisition for Goods 132


N

Appendix Work Order Register 133


O

CHAPTER 1
INTRODUCTION
1.00 About Bangladesh Cricket Board:

Legal Form:

Bangladesh Cricket Board (BCB) was established back in 1972. The core
objective of the Board is to raise the overall cricket environment in Bangladesh.
Its jurisdiction covers the cricket game all over the country as well as
maintaining co-ordination with the international cricket Bodies. It makes efforts
for the arrangement of different cricket matches both at National and
International level.

With an eye to promoting the age-level cricket in the country, B.C.B has already
taken some realistic initiatives those include training-up the juvenile cricketers
under the guidance of some overseas coaches and local coaches for a stipulated
period of time and thereafter their inclusion in the National team which is also
looked after by a foreign coach along with an assistant round the year. These
steps have already begun to yield positive results. A number of juvenile
cricketers from various age-level coaching are now representing Bangladesh in
the international arena. Apart from this, B.C.B has well-thought-out plans
designed to develop the infrastructure that would facilitate cricket up gradation
in Bangladesh. Development work in this context has already started and is in
progress.

2.00 Preamble:

This manual is the essence of a sound financial management and effective


accounting administration of the organization. The intent of this manual is to
provide written guidelines to all concerned with a view to facilitate proper
financial control on overall operational activities of the Board. It is endeavored
that this manual will be of great assistance in fulfilling the requirements of the
financial discipline and bringing uniformity and cohesion at different areas of
the B.C.Bs financial management.

A smooth, sound and sophisticated accounting system is a pre-condition for an


effective and meaningful financial management. The basic requirement for
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Bangladesh Cricket Board Financial &
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ensuring a good and beneficial financial management is to establish a system


with a well defined procedure so that the accounting records are maintained
accurately and the financial statements are prepared on time. It is obvious that
a foolproof accounting system is needed first for attaining the benefits of the
financial management.

It is important indeed that Bangladesh Cricket Board may expect to prepare and
receive financial statements of the revenue so utilized. Therefore, to enable the
accounts personnel to prepare useful and accurate financial reports it has
developed a standardized financial recording system that will help to ensure the
correctly, timely and regular basis financial reporting. The purpose of
introducing the accounting manual is:

To implement an appropriate accounting system as per the Generally


Accepted Accounting Principles (GAAP) in all sphere of the financial
transactions & activities of the Board;
To ensure the application of International Accounting Standards (IAS);

To ensure the over all coverage of the requirements of the NSC / ACC / ICC
(if they required);

To ensure the full coverage of taxation aspects of the Board as per the rules
& regulations of the Income Tax Ordinance 1984 and VAT Act 1991;

And in turn to help the management not only in establishing an effective


control over the financial transactions & activities and

Also to avail a positive support in administering the overall activities of


Bangladesh Cricket Board.

3.00 Financial Accounting Objectives:

The objectives of maintaining accounts of Bangladesh Cricket Board are:

a) To maintain an utmost sound financial regularity & discipline at all level of


financial management of Bangladesh Cricket Board activities;

b) Transparency and accountability should be achieved through better


implementation of effective financial management control system and
accordingly better preparation & presentation of the Board's financial
statements following the international standards.

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c) Full disclosure of the operating cost / expenses of the Board.

d) Accounting records that can serve as the basis of ascertaining the


implementation of plan and budget, preparing future plan of operation and
budgets, and for evaluating plan and budget demands and proposals.

e) Financial information needed for monitoring expenditure and for exercising


effective management control of operations of the Board.

f) Reliable information for report purposes, which will serve the requirement of
GOB, Bangladesh Cricket Board Internal Management, Donors, Internal Audit,
External Audit, Investigation, Assessment, Review and for any purposes.

g) Periodical statement and report to Bangladesh Cricket Board management


and other related offices as required by the management.

h) To strengthen internal control techniques & polices, internal check, better


mechanism to improve financial accountability, ensure the accuracy of the
financial reports and maintain a methodical recording of financial transactions.

4.00 Accounting and Auditing Requirements:

Sound financial management is vital to Bangladesh Cricket Boards success.


Sound financial management will help Bangladesh Cricket Board to perform
efficiently by reducing in-progress delays or bottlenecks, speeding
disbursements and facilitate monitoring.

The accounting and auditing requirements while are required to be complied


with are outlined below:

A - Accounting Requirements:

Bangladesh Cricket Boards accounts must be maintained in accordance with


accounting practices that are generally recognized by the international
accounting community. Such practice, once adopted should be consistently
followed. The accounting records should be maintained in a manner that is
transparent and auditable and financial statements produced must reflect a
clear link to the books of accounts.

B - Auditing Requirements:
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The broad aim of Bangladesh Cricket Boards audit is to safeguard the interest
of the GOB / Donor Agencies / other related bodies and Bangladesh Cricket
Board itself and promote transparency and accountability, along with sound
economic and financial management practices across the Bangladesh Cricket
Board. Towards that broad aim, the objectives of auditing are to give an
independent assessment of:

Whether the financial statements shows a true and fair view of the financial
position of the Bangladesh Cricket Board and its income and expenditures for
the year in question and have been properly prepared in accordance with
appropriate rules and regulations and following the international accounting
standards;
The adequacy of the Bangladesh Cricket Board's arrangements to secure
economy, efficiency and effectiveness in the use of the resources;
The adequacy of the Bangladesh Cricket Board's financial management
systems;
The adequacy of the Bangladesh Cricket Board's arrangements for
preventing and detecting fraud, corruption and the internal control
framework generally;
The adequacy of the Bangladesh Cricket Board's arrangements for ensuring
the legality of transactions that might have a financial consequence;
The adequacy of the Bangladesh Cricket Board's arrangements for collecting,
collating and recording accounting data and publishing financial statements
and reports pursuant to appropriate rules and regulations and as per
internationally accepted standards.

5.00 - Accounting Offices:

a. In Management Office

Chief Financial Officer will be in charge of the Finance & Accounts Department
of the Management Office who remains directly responsible to the Chief
Executive Officer for all financial and accounting functions & activities of
Management Office and Unit offices.

b. In Unit Offices

Unit Manager will be in charge of the Finance & Accounts functions who
remains directly responsible to the Chief Financial Officer for the financial and
accounting functions & activities of Unit offices.

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6.00 Accounting Year:

Bangladesh Cricket Board shall use July to June as their accounting year.

7.00 Books of Accounts:

Bangladesh Cricket Board shall maintain all books of accounts based on the
following requirements, guidelines, instructions, rules and regulations as per
the:

(a) Financial and Accounting Manual of Bangladesh Cricket Board;

(b)Rules of the Bangladesh Cricket Board Accounting Code;

(c) Requirements of the International Accounting Standards (IAS) and


Bangladesh Accounting Standard (BAS);

(d)Contents of the ICC/ACC/NSC (If they required);

(e) Requirements of the Income Tax Ordinance 1984;

(f) Guidelines of the Value Added Tax Act 1991;

(g)Bangladesh Cricket Board's different policies approved by the Executive


Committee of Bangladesh Cricket Board;

(h)And such other books of accounts as required, circulated and instructed by


the Management of Bangladesh Cricket Board from time to time.

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CHAPTER - 2
ACCOUNTING POLICIES
8.00- Basis of Accounting:

Accounts of Bangladesh Cricket Board should be maintained on acceptable


basis, that is, all income actually received are to be considered as income and all
expenditure / payments, actually made are to be taken as expenditure, with a
few book adjustments for stock & stores, advances, prepayments, outstanding
expenses, depreciation, deferred income, accrued income, receivables, etc.

As such accrual basis of accounting is being pursued. The Board shall apply,
adopt, follow and implement the guidelines / instructions of the International
Accounting Standards (IASs) for all purposes of accounting.

9.00- Accounting Responsibility:

Finance & Accounts Department is entrusted with the responsibility to ensure


the proper maintenance of the books of accounts of the Board. Timely and
accurate presentation of the financial reports is the prime job of the accounts
personnel in Bangladesh Cricket Board Management office.

The Finance & Accounts Department will ensure the authenticity & recording
for all payments and also responsible for recording of all receipts on time. It
supervises the effective implementation of the internal control devices & assist
the management in attaining financial management.

Chief Financial Officer is responsible to preserve all books of accounts &


supporting accounting records in a systematic and dynamic manner.
Management will make job / duty allocations to the staff members of finance /
accounts Department & ensure smooth function of his department.

As a measure of management safe-guard, the required coverage and appropriate


precautions must be exercised for handling of cash, handling of store materials,
carrying of cash from and to bank and preservation of cheque books and over all
financial discipline of Bangladesh Cricket Board.

Any staff member of Bangladesh Cricket Board who signs or countersigns in any
primary documents, books of original entries, books of final entries and
reporting etc. is personally, officially and professionally responsible for their
completeness, correctness & for the facts as stated there-in so far as it is his /
her duty to know or to extent to which he / she may be responsible or expected
to be aware of them.
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10.00 - Accounting Policies of Bangladesh Cricket Board:

Accounting system, selection and application of accounting policies and


presentation of financial statements of Bangladesh Cricket Board shall be in
conformity with the international accounting standards. Accounting policies of
Bangladesh Cricket Board encompass the principles, bases, conventions, rules
and procedures adapted by Bangladesh Cricket Board management in preparing
and presenting financial statements by using best management judgment in the
circumstances. Bangladesh Cricket Board shall use its judgment in selecting and
applying its accounting policies keeping in view the following:

The requirements and guidelines in International Financial Reporting


Standard (IFRS) and Bangladesh Accounting Standard (BAS) dealing with
similar and related issues;

The definitions, recognitions and measurement criteria for assets, liabilities,


incomes and expenses set out in the International Accounting Standards
Committee (IASC) framework; and

Pronouncements of other standards setting bodies and accepted policies, but


only to the extent, that these are consistent with the above.

Four considerations shall govern the selection and application of the appropriate
accounting policies and the preparation of the financial statements of
Bangladesh Cricket Board. These are:

I. Prudence -

Uncertainties inevitably surrounded many transactions in B.C.B. This shall


be recognized by prudence in preparing financial statements.

II. Substance Over Form -

Financial transactions and other events of B.C.B shall be accounted and


for and presented in accordance with their substance and financial reality
and not merely with their legal form.

III. Materiality -

Financial statements of B.C.B shall disclose all items which are material
enough to effect evaluation or decisions.
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IV. Neutrality -

Financial transactions of B.C.B shall be neutral and shall be free from


bias.

Accounting policies of Bangladesh Cricket Board are listed below:

i) Accounting Convention - Basis of Preparation:

Financial statements shall be prepared under historical cost convention and


in accordance with the International Accounting Standards as adapted in
Bangladesh.

All activities included in the accounts shall be continuing in nature that is the
financial statements prepared on going concern basis;
Financial transactions shall be accounted for and presented in accordance
with their substance and financial reality and not merely with their legal
form;

Comparative figures shall be stated in the financial statements;

The disclosures in the financial statements, in all material respects, are in


accordance with International Accounting Standards.

ii) Fixed Assets:

Fixed assets shall be stated at cost less accumulated depreciation;

Fixed assets valuation bases used for determining the amounts at which
depreciable assets shall be stated in the financial statements;

Maintenance and repairs are charged to the statement of income when


expenditures are incurred but any improvements need to be capitalized. Land
is not to be depreciated;

The gross amount of depreciable assets and the related accumulated


depreciation shall be disclosed in the financial statements;

An item shall be recognized as an asset when it is probable that future


economic benefits associated with the asset shall flow to the Board. The cost
of the asset to the Board can be measured reliably.
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An item of property, plant and equipment that qualify for recognition as an


asset should initially be measured at its' cost.

The component of cost is purchase price plus all other costs of bringing the
asset to its present condition and location.

The policies in recognition, valuation & revaluation of property, plant and


equipment should be in line with the International Accounting Standard.

The assets are accounted for in the following classes:

(a) Land: Land is recorded at the price paid for the land. The other expenses
for acquiring the land are added to the cost. The other expenses are: Stamp
fees, Registration fees, Government tax, Legal fees and other related
expenses.

(b) Building: Valued at cost plus all other relevant expenses up to the point
of bringing it to the usable condition. It is recorded at the amount of cash or
cash equivalents. The building is shown in the balance sheet at cost less
accumulated depreciation. The following costs are considered: (i) - The cost
of floating tender for selecting - Designer, Contractor, Personnel, Material
etc. (ii) - Material costs; (iii) - Labor cost; (iv) - Consultants fee; (v) - Design
fee; (vi) - Supervision; (vii) - Guard; (viii) - Utility cost; (ix) Other related
costs.

(c) Machinery: Machinery is acquired at cost that can be measured reliably.


All other expenses to bring the machinery to the working condition are
considered.

(d) Motor Vehicles: Shown in the balance sheet at cost less accumulated
depreciation. The other related expenses are added to the cost for making it
road worthly. Among the other costs that can be recognized over its purchase
price are the following: (i) - Registration cost; (ii) - First time checking and
inspecting expenses.

(e) Furniture and fixture: Are recorded at the amount of cash or cash
equivalents paid or the fair value of the consideration given to acquire them
at the time of their acquisition. These are shown at cost less accumulated
depreciation in the balance sheet.
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(f) Office equipment: Are recorded at the amount of cash or cash


equivalents paid or the fair value of the consideration given to acquire them
at the time of their acquisition. These are shown at cost less accumulated
depreciation in the balance sheet.

(g) Others: On the basis of the chart of accounts.

iii) Depreciation on Fixed Assets:

Depreciation shall be charged on fixed assets on reducing balance


method;

Depreciation on fixed assets additions shall be charged from the date of


the acquisition under reducing balance method;

Depreciation for the period shall be charged to income statement for the
period;

Depreciation method selected shall be applied consistently from period to


period;

The selection of allocation and estimation of the useful life of a


depreciable assets shall be the matter of Judgment of Bangladesh Cricket
Board management considering the expected physical wear and tear

Accumulated depreciation shall be disclosed in the financial statement;

A reconciliation of additions, disposals, amount of depreciation and other


movements shall be included as part of the financial statements;

The rate of depreciation on each class of asset shall be follows:

Category of Assets Rate of Depreciation


(%)
Machinery 10
Sight Screen Stand 10
Manual Score Board 20
Furniture & Fixture 10
Stabilizer 15

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Gym. Equipment 20
Air Cooler 10
Equipment 20
Computer 15
Printer 15
Notice Board 10
Display Item 10
Television 15
Office Decoration 20
Office Building 10
Electric Installation 15
UPS 15
Scanner 15
Fan 10
Fridge 20
Photocopier 15
Wall Clock 30
Speaker 15
IPS 15
DVD 15
Telephone Set 20
FAX 15
Micro Oven 15
Vehicles 20
Movie Camera 20
Projector 20
Software 20
Mobile Phone Set 20
Bill Board 10
Gallery Chair 10
Other Assets Depreciation Rate
implements depend on
nature of Fixed Assets
Soft Assets (Mattress, Carpet, 30
Cushion etc.)

iv) Revenue Recognition:

Sale of television rights, Sponsor ship rights, Sale of tickets, ICC/ACC


Championship Money, Local broadcasting revenue, Sale of wastage; National
League participation money, Investment income etc. shall be calculated in
accordance with the agreement between B.C.B & the parties.

Sale of television rights, Sponsor ship rights, Sale of tickets, ICC/ACC


Championship Money, Local broadcasting revenue, etc. shall be accounted
for on accrual basis;
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Sales of International TV Right, Sponsorship Money, ICC/ACC Championship


Money, National League participation money, etc. received in advance for
subsequent years shall not be recognized as income for the current year. It
shall be deferred for subsequent years;
Sale of television rights, Sponsor ship rights, Sale of tickets, ICC/ACC
Championship Money, Local broadcasting revenue, Sale of wastage; National
League participation money, Investment income etc. for the current year and
any deferred revenues shall be disclosed separately in the financial
statements in order to give a better understanding of the composition;
Interest income from short-term investment / deposits shall be accounted for
on accrual basis;
Grants for expenses to the extent of the amount for the year shall be
recognized as an income during the year;
All other incomes shall be accounted for on accrual basis;
Any other / miscellaneous income shall be accounted for on realized basis /
actual basis that shall be disclosed in the financial statements;
All items of income recognized in a period by Bangladesh Cricket Board shall
be included in the determination of the net surplus or deficit for that period;
The nature and amount of each extraordinary item shall be separately
accounted-for and disclosed in the financial statements;
Revenue is recognized by Bangladesh Cricket Board when it is probable that
future economic benefits shall flow to the Board and these benefits can be
measured reliably.

v) Recognition of Grants & Accounting for Government Assistance:

Grants for expenses shall be recognized as deferred income to the extent of


the amount of subsequent years;
Amount equal to current years depreciation under grant for assets shall be
recognized as income. Rest / carrying amount of the relevant assets shall be
accounted for as grant for assets;
Government grant shall not be recognized until there shall be reasonable
assurance that Bangladesh Cricket Board shall comply with the conditions
attaching to it, and that the grant shall be received;
The nature and extent of government grants recognized shall be disclosed
adequately in financial statements;

vi) Borrowing Cost:

Borrowing costs shall be interest and other costs incurred by Bangladesh


Cricket Board in connection with the borrowing of funds;

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Borrowing costs shall be recognized as expenses in the period in which they


are incurred;
Borrowing costs shall be accounted for on accrual basis;
The nature & extent of borrowing costs recognized shall be disclosed
adequately in the financial statements;

vii) Employees Retirement Benefit Plans:

Employees retirement benefit plans shall be adequately disclosed in the


financial statements of B.C.B in respect to plans and to the following:

Description of plans, Number of participants received benefits, Employers'


contribution, Employees contribution, Investment incomes and administrative
expenses.
Provision for the employers' contribution to the Contributory Provident Fund
shall be made as per rules of the Contributory Provident Fund Scheme;
Required amount against provision for gratuity shall be invested in the bank
with a view to timely payment of gratuity to the staff members of B.C.B;
Premium for Group Insurance Coverage for its employees, players and
coaches shall be accounted for annually;
Cost of providing retirement benefit shall be recognized as an expense in the
period during which the services are rendered;

viii) Taxation:

A. Income Tax:

At present, BCB has been entitled to tax exempted from Income Tax as per
SRO No. 298-Law/2000 as National Sports Federation.
BCB has been completed the assessment activities in favor of foreigners but
income tax shall be paid by the foreigners as per their agreement. If
foreigner income tax is paid by BCB then it shall be approved by Executive
Committee / Working Committee.
BCB should be deducted the Income tax at source and deposited in
Government Treasury in due time as per Income Tax Ordinance-1984.

B. Value added tax (VAT):

BCB shall pay the VAT with maintaining a current account on their revenue
as Sports Organization Institute, SRO-047 as per VAT Act. 1991.

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BCB shall deduct the VAT at source and deposited in Government Treasury in
due time as per Value Added Tax (VAT) Act. 1991.

ix) Capital Fund:

The origin of the capital fund is the receipts of Sale of television rights,
Sponsor ship rights, Sale of tickets, ICC/ACC Championship Money, Local
broadcasting revenue, Sale of wastage; National League participation money,
Investment income etc..

The accretion of capital fund shall be the transfer of each years' surplus of
income over expenditures of Bangladesh Cricket Board;

Capital fund is restricted to be exclusively used for the purpose of


Bangladesh Cricket Board only.

x) Accounting for Expenses:

All expenses shall be accounted for on accrual basis. Under the accrual basis
of accounting, transactions and events shall be recognized when they occur
(and not as cash or its equivalent is paid) and shall be recorded in the
accounting records and reported in the financial statements of the periods to
which they relate. Expenses shall be recognized in the income statement on
the basis of a direct association between the costs incurred and the earning
of specific items of income (matching).

xi) Materiality and Aggregation:

Each material item that is enough to effect evaluation or decision shall be


presented separately in Bangladesh Cricket Boards financial statements.
Immaterial amounts are aggregated with the amounts of similar nature or
function and need not be presented separately.

Financial statements result from processing large quantities of transactions,


which are structured by being aggregated into groups according to their
nature or function. The final stage in the process of aggregation and
classification is the presentation of condensed and classified data, which form
line items either on the face of the financial statements or in the notes. If a
line item is not individually material, it shall be aggregated with other items
either on the face of the balance sheet or in notes. An item that is not
sufficiently material to warrant separate presentation on the face of financial
statements may nevertheless be sufficiently material that it should be
presented separately in the notes.
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Materiality depends on the size and nature of the item judged in the
particular circumstances of its omission. In deciding whether an item or an
aggregate of items is material, the nature and the size of the item shall be
evaluated together. Depending on the circumstances, either the nature or the
size of the item could be the determining factor. For example, individual
assets with the same nature and function shall be aggregated even if the
individual amounts are large. Large items which in nature or function shall
be presented separately.

xii) Offsetting:

Bangladesh Cricket Board's assets and liabilities shall not be offset except
when offsetting is required or permitted by any International Accounting
Standard.
Items of income & expenditure shall be setoff when an International
Accounting Standard requires or permitted.
It is important that both assets and liabilities, and income and expenses,
when material are reported separately. Offsetting in either income statement
or balance sheet, except when offsetting reflects the substance of the
transaction or event detracts from the ability of users to understand the
transactions undertaken and to assess the future cash flows of the Board. The
reporting of assets net of valuation allowances for example doubtful debts
allowances on receivables is not offsetting.

11.00 - Currencies:

All Bangladesh Cricket Board's assets, liabilities, capital fund, income and
expenditure are denominated in terms of the Taka, the local currency;

Hence, any receipt by Bangladesh Cricket Board for ICC/ACC, International


TV right etc. or receipt for any other sources and payments to foreign
employees and foreign currencies from any scheduled Bank USD Account is
required to be converted in Taka currency for accounting purpose. Foreign
currencies fluctuation gains / loss shall be calculated at the end of year at
that present rate as per IAS 21 (The effects of changes in foreign exchange
rates).

12.00 - Accounting Assumptions of Bangladesh Cricket Board:

Following are the accounting assumptions of Bangladesh Cricket Board:

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a) Going Concern:

When preparing the financial statements, B.C.B shall make an assessment of an


enterprise's ability to continue as a going concern.

b) Consistency:

The presentation and classification of financial items in the financial statements


shall be retained from one period to next period unless;

i) - A significant change in the Board.

ii) - A change in presentation is required by an IAS.


c) Accrual:

BCB shall prepare its financial statements, except for cash flows information,
under the accrual basis of accounting.

13.00 - Characteristics of Financial Transactions & Statements:

The financial transactions and the financial statements of Bangladesh Cricket


Board shall have the following characteristics:

1) Understandability;
2) Relevance;
3) Reliability;
4) Faithful presentation;
5) Substance over form;
6) Neutrality;
7) Prudence;
8) Completeness;
9) Comparability.

14.00 - Procedure for Recording Transactions:

Procedure for recording transactions is described in Point 115 & 116.

15.00 - Preparation of Daily Cash & Bank Balance Statement:


Daily cash & bank balance statement usually contains the following data &
information:
A - Bank account balance of different banks;
B - Cash in hand;

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C - Advance slip (IOU-Temporary Loan) balance (If any);


Prepared by cashier and will be checked by accounts personnel & authenticated
by Chief Financial Officer through signing this statement at the end of the day
as per format.

16.00 - Passing Adjusting Journal and Closing Entries:

Adjustment entries for stores, advances, prepayments, outstanding expenses,


deferred service charges, accrued income, receivables and depreciation shall
be made at the end of each month / quarter / half year (as and when
required) through journal vouchers.
All rectifications, transfers and adjustments and non-cash transactions are to
be processed through journal voucher.
The adjusting journals will be prepared by the Assistant Manager Finance
(AMF), duly checked by Finance Manger (FM), certified by the Chief
Financial Officer and approved by the competent authority.
The journal vouchers will be filled in a chronological order.

17.00 - Preparation of Trial Balance:

The ledger accounts shall be balanced on transaction basis to prepare trial


balance. Consolidated Accounts, Unit Accounts and Fund Accounts to be
drawn to ensure the arithmetical accuracy of the entries made in the Cash
Journal Register and Ledgers Accounts.
Trial balance will be the base document to prepare the Income &
Expenditure Account, Balance Sheet, Cash Flow Statements and all other
financial statements as required the management.

18.00 - Reporting of Accounting Offices:

Accounting office shall close the accounts at the last transaction day of the
month. This closing of the accounts includes:

A - Closing of Books and Accounts:

Closing of Cash Journal Register - Cash and Bank balance;


Balancing of General Control Ledger;
Balancing of all Subsidiary & Sub-subsidiary Ledgers.
Balancing of all Loan Ledgers
Balancing and updating of all kinds of registers (advance register, Accounts
payable register, accounts receivable register etc.).
Cash and bank balance confirmation;
Bank reconciliation statements preparation;

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B - Preparation of Financial Statements:

Preparation of Trial Balance;


Preparation of monthly Income & Expenditure Account;
Preparation of monthly Balance Sheet;
Preparation of all necessary schedules and break up of figure;
Preparation of Cash flow statement as per International Accounting
Standard-7.
Notes to Accounts with full disclosure requirements of adequate & correct
presentation of Financial Statements as per International Accounting
Standards;
Interpretation of Financial Statements;
Budget Monitoring & Budget Variance Analysis;
Accounting office shall prepare the complete set of accounts financial
statements by the 10th of the next month at the latest and submitted to the
Internal Auditor for internal audit.

19.00 - Activity Chart of Transactions & Its Documentation:

Activity Chart of the total financial accounting system of the Board has been
outlined as below:

ACTIVITY CHART

Activity Documentation

1-Transactions cash or non-cash As and when it takes place

2-Adequcy of documents of transactions For each transaction

3-Approval of transactions along with Budget


and Financial Minuet For each transaction

4-Payment vouchers Cash Journal For each transaction

5-Payees acknowledgement For each transaction

6-Receipt vouchers - Cash Journal For each transaction

7-Revenue vouchers - Cash Journal For each transaction


8- Sales of International TV Right,
Sponsorship Money, ICC/ACC
Championship Money, National League
participation money - Cash Journal For each transaction
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9-Deferred Revenue(mentioned above-8)-Journal Voucher For each transaction

10-Posting to cash journal register Daily basis

11-Balancing of cash journal voucher Daily basis

12-Posting & balancing to bank accounts ledger Daily basis

13-Preparation of daily cash & bank balance statements Daily basis

14-Preparation of bank reconciliation statements Monthly basis

15-Journal vouchers Daily, as & when takes


place

16-Adequacy of documents of journal voucher For each transaction

17-Posting to control general ledger Daily basis

18-Posting to fund ledger Daily

19-Posting to budget register Daily

20-Balancing of all ledgers Daily

21-Posting to fixed assets register As & when it takes place

22-Posting to stock register As & when it takes place

23-Balancing of stock register Daily basis

24-Posting & balancing of advance register As & when it takes


place

25-Posting & adjustment of advance register As & when it takes


place

26-Posting and balancing of loan register As & when it takes


place

27-Posting & balancing of all payable registers As & when it takes


place

28-Posting & balancing of all subsidiary ledgers As & when it takes


place
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29-Posting & balancing of all sub subsidiary ledgers &


registers As & when it takes place

30-Preparation of trial balance Monthly basis

31-Preparation of income/expenditure statements of


all projects Monthly basis

32-Preparation of income statements of BCB Quarterly and Yearly


basis

33-Preparation of balance sheets of BCB Quarterly /Yearly basis

34-Preparation of cash flow statements of BCB Quarterly /Monthly basis

35-Preparation of notes to accounts of BCB


Monthly/Quarterly/Annual

36-Preparation of cash custody certificates of BCB Monthly basis

37-Obtain bank balance confirmation certificates Monthly basis

20.00 - Financial Accounting Flow Chart:

Bangladesh Cricket Boards (BCB) financial accounting system flow chart is


given below:

Flow Chart of Financial Accounting

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Financial Transactions

Cash/Bank transactions Non-Cash transactions

Receipt Payment Depreciation & Accrual Prior Year


transactions transactions Adjustment of Assets transactions Adjustment

Cash Journal Journal Voucher

Bank Journal

Control General Ledger

Subsidiary Ledger

Trial Balance

Income Statement Balance Sheet

Cash Flow Statement

Notes to the Accounts

CHAPTER-3
BUDGET AND BUDGETARY CONTROL

21.00 - INTRODUCTION:

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Budget is a pre-determined statement of income and expenditure of an


organization for a specific period, which includes projection of resources and
estimated expenditure, required to achieve organizational goals in numeric
terms. The purpose of preparing a budget is to ensure proper utilization of
limited resources to their maximum potential, for which adequate planning,
organizing and controlling are essential. The following should be incorporated in
the preparation of the budget.

Estimates of Revenue
Estimates of Recurrent Expenditure
Estimates of Capital Expenditure
Cadres
A Statement of projected Income and Expenditure
A Cash Flow Statement
A projected Balance Sheet
ICC calendar for the year of budget
Venues for ICC matches to be played in Bangladesh

22.00 - PROCESS OF BUDGET PREPARATION:

All Standing Committee, Sub-Committee and Departmental Head (where


applicable) will prepare the Budget in accordance with their activities and
this will be submitted to the Chief Financial Officer (CFO)

Chief Financial Officer (CFO) will prepare a consolidated budget with


analysis and it will be placed to the Budget Review Committee / Finance
Committee with recommendation of Chief Executive Officer (CEO)

Budget Review Committee / Finance Committee will review and finalize the
budget. After finalization, budget will be placed in the Executive Committee
Meeting for approval.

The Executive Committee will approve the budget by 30th June in a special
budget meeting and it will be placed in the Annual General Meeting for post
facto approval.

The budget will be treated as operational immediately, after approval by the


Executive Committee.

23.00 - BUDGET PERIOD AND FORMAT:

Timing of Budget Preparation:

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The Annual budget is prepared for one year from July to June. Budget should be
submitted by the all Standing Committee, Sub-Committee and Departmental
Head (where applicable) within mid-April to CFO. CFO will submit the
consolidated budget with analysis and recommendation of CEO to the Budget
Review Committee / Finance Committee within 30th May. After scrutiny and
finalization of the budget, the Budget Review Committee / Finance Committee
will place the budget within 30th June in the Executive Committee Meeting for
approval. After Executive Committee approval the budget will be placed before
the AGM for post facto approval.

After finalization and approval of the budget the relevant portion of the budget
will be given to the respective committee / Department.

Format of budget:

The Annual budget should be prepared as per Appendix A.

24.00 - BUDGETARY CONTROL:

Budgetary Control is a system of planning and controlling cost, which starts


with the establishment of budget relating to activities to be carried out in order
to achieve the organizational goals and regular comparison between budget and
actual results / costs; analysis of variances and taking corrective measures.

Objectives of the Budgetary Control System

From the functional point of view, a system of Budgetary Control will serve the
purpose of Planning, Coordination and Control. The objectives of the budgetary
control are detailed below:
Combining the ideas of all levels of management in the preparation of
different functional budget
Coordinating all the activities of a program and organization
Helping to centralize control and de-centralize responsibilities
Planning and controlling income and expenditure to determine organizational
needs
Acting as a guide for management decisions
Providing a yardstick against which actual results are compared
A tool helping to point out the areas where management action is required

25.00 - BUDGET MONITORING:

BCB Finance Department shall closely control and monitor the budget with the
actual results on quarterly basis. At all levels of BCB, the persons concerned
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with the Expenditure Process (requisition / authorization / disbursement /


approval) will be responsible for ensuring that the expenses are incurred with in
the budgetary provisions. Before making any commitment for any expenditure,
the concerned person(s) shall ensure that disbursement and unpaid obligations
do not exceed the budget limit.

The Budget shall be closely monitored by the Finance Department of BCB, who
are responsible for preparation of monthly Financial Statement, Variance Report
showing Budget VS Actual amounts and reasons for major variances. The CFO
will oversee the budget monitoring/controlling process.

Monitoring of development budget shall be overseen by the program managers


in collaboration with the financial staff members.

Monitoring of Specific Tournament budget shall be overseen by the Concerned


Chairman in collaboration with the financial staff members.

26.00 - BUDGET VARIANCE ANALYSIS:

BCB Finance Department shall prepare line wise comparative statement of


income and expenditure showing Budget VS Actual (income and expenditure)
and variance thereon on a quarterly basis, along with explanations for
variations.

27.00 - LINE ITEM FLEXIBILITY:

There will be a flexibility of 10% in any particular line item, for which no prior
approval will be required, provided that the actual total expenditure in all line
items does not exceed the total budget. However, such flexibility is not to be
considered as a budget revision, and the actual excess expenditure, of any, will
need to be shown as an adverse variance against the original budget.

28.00 - TRANSFER OF FUNDS AMONG BUDGET LINES:

Transfer of funds among the budget lines may be allowed on submission of


request with valid justification by the Committee Chairman through the Finance
Department, as appropriate, to the CEO and General Secretary for prior
approval. Transfers of budget allocation from one head to another head would
not involve additional financial obligation. The CEO or his designate shall
confirm such transfer in writing to effect the change in budget.

Transfer of funds from one budget line to another shall in no case exceed 10% of
the amount actually budgeted.
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29.00 - SUBMISSION OF FUND REQUISITION:

Before release of the fund as per agreed terms and conditions and time frame,
all Standing Committee, Sub-Committee and Departmental Head (where
applicable) shall submit their fund requisition with recommendation of the CEO
to the BCB finance committee on quarterly basis. On receipt of the fund
requisition, the finance committee shall release the funds based on the approved
work plan and estimated budget requirements for a period of 3 months. Before
submission of the next quarterly requisition an expenditure report along with
supporting documents of the previous requisitioned amount will have to be
submitted to the Finance Division. Either the Chairman of the respective
committee or any other person authorized by the committee will deal with all
financial matters.

CHAPTER 4
BOOKS OF ACCOUNTS

30.00 - Introduction:

In general, the following accounting forms and recording books could possibly
be kept and maintained by Bangladesh Cricket Board. These accounting forms
and recording books would be used for documentation of various records,
analysis and interpretation of daily financial transactions of Bangladesh Cricket
Board in terms of cash and accrual basis. Utilities and characteristics of
different forms and recording books are described here in details for smooth
functioning of processing the every day financial transactions of Bangladesh
Cricket Board Management Office and its Unit Offices in systematically.

31.00 Cash Journal Debit / Payment Voucher:

Voucher is the primary source of information to the accounting process.


Vouchers are prepared on the basis of invoice or memorandum that serves as
evidence and appropriateness of a financial transaction. As soon as cash
payment transaction is completed, it has to be documented with valid, authentic
and authorized payment evidences as proof of appropriateness of expenditure
and then, to be recorded in Cash Journal Debit / Payment Voucher. To record

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the cash transactions, it is the primary and main evidence of processing


transactions of Bangladesh Cricket Board Management Office and its Unit
Offices.

Debit Cash Journal:

In case of cash expenses or payments or discharging of liabilities, it has to be


recorded through Debit Cash Journal. Debit / Payment vouchers shall be
submitted for approval to the competent authority together with all supporting
documents. Only duly approved and authorized vouchers can be posted to the
books of accounts.

32.00 Cash Journal Credit / Receipts:

As soon as cash receipt or income transaction is completed, it has to be


recorded in Cash Journal Credit / Receipt Voucher. To record the cash receipt
transactions, it is the primary and main evidence of processing transactions of
Bangladesh Cricket Board Management Office and its Unit Offices.

Credit Cash Journal:

In case of cash receipts or incomes, it has to be recorded through Credit Cash


Journal. Credit / Receipts vouchers shall be submitted for approval together with
all supporting documents. Only duly approved vouchers can be posted to the
books of accounts.

33.00 Bank Journal Debit / Payment Voucher:

Voucher is the primary source of information to the accounting process.


Vouchers are prepared on the basis of invoice or memorandum that serves as
evidence and appropriateness of a financial transaction. As soon as bank
payment transaction is completed, it has to be documented with valid, authentic
and authorized payment evidences as proof of appropriateness of expenditure
and then, to be recorded in Bank Journal Debit / Payment Voucher. To record
the bank transactions, it is the primary and main evidence of processing
transactions of Bangladesh Cricket Board Management Office and its Unit
Offices.

Debit Bank Journal:

In case of bank expenses or payments or discharging of liabilities, it has to be


recorded through Debit Bank Journal. Debit / Payment vouchers shall be
submitted for approval to the competent authority together with all supporting
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documents. The voucher should be authorized through Expenditure Note Sheet,


which will be mentioned the description of the nature of expenditure, VAT at
source and TDS amount and shown the option of authorized personnel. Only
duly approved and authorized vouchers can be posted to the books of accounts.

34.00 Bank Journal Credit / Receipts:

As soon as bank receipt or income transaction is completed, it has to be


recorded in Bank Journal Credit / Receipt Voucher. To record the bank receipt
transactions, it is the primary and main evidence of processing transactions of
Bangladesh Cricket Board Management Office and its Unit Offices.

Credit Bank Journal:

In case of bank receipts or incomes, it has to be recorded through Credit Bank


Journal. Credit / Receipts vouchers shall be submitted for approval together with
all supporting documents. Only duly approved vouchers can be posted to the
books of accounts.

35.00 Journal Voucher For Adjustments / Non Cash Transactions:

Journal vouchers need to be prepared in order to reconcile different


combinations of inter related accounts. Besides, transactions of some non-cash
items will also be made through the preparation of Journal Voucher.

Preparation of journal voucher is generally necessary to record the posting of all


financial transactions that are generally categorized as below:

Depreciation of all fixed assets;


Provision created for the capital expenditures;
Provision created for the revenue expenditures;
All sorts of adjustment in inventory accounting;
All sorts of adjustment of advances;
All sorts of income receivables;
Deferred service charges
Provision created for the bad debts;
To accounts for all sorts of accrued liabilities;
Accounting of deduction of security deposit, Income Tax, &
VAT
All sorts of rectification entries for appropriate corrections;
Other transactions not covered by any other vouchers.

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Journal vouchers shall be submitted for verification to the Manager Finance


(FM) and then for approval to the CFO, together with all supporting documents.
Only duly approved and authorized journal vouchers can be posted to the books
of accounts.

36.00 Cash Journal Register:

Bangladesh Cricket Board account Department shall maintain Cash Journal


Register. All cash transactions will be recorded in the cash journal register
strictly on daily basis in computer.

Cash debit journal will be recorded on the expenditure / payments side and cash
credit journal will be recorded on the receipt side of the cash journal register
strictly chronologically. Cash journal register must be balanced after daily
operations are being completed.

After balancing the cash journal, the balance amount will be physically verified
and there after both accounts officer and cashier will put their signatures
acknowledging the above balance as found correct. Thus, it is the primary and
main book of the Bangladesh Cricket Board that will give an accurate picture of
the cash item transactions in a particular time.

37.00 Bank Journal Register:

Bangladesh Cricket Board account Department shall maintain Bank Journal


Register. All Bank transactions will be recorded in the bank journal register
strictly on daily basis in respective Bank name wise in separate page in the Bank
Journal Register in computer.

Bank debit / Payment journal will be recorded on the expenditure / payments


side and Bank credit journal will be recorded on the receipt side of the Bank
journal register strictly chronologically. Bank journal register must be balanced
in respective bank name wise at the end of the month.

After balancing the Bank journal Register, the respective bank account will be
reconciled with Bank statement.

38.00 Control General Ledger:

The control general ledger is the control book to summarize all financial
transactions (cash items and non-cash items transactions) of Bangladesh Cricket
Board in accounts head and accounts code wise for easy preparation of financial
statements. Recording of all the daily income and expenses transactions will be

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made in the control general ledger through computer. All transactions in cash
journal register and through journal vouchers will have to be recorded in control
general ledger under different accounting heads and codes.

39.00 Subsidiary Ledger:

Subsidiary ledger is the secondary control book to summarize all financial


transactions (cash items and non-cash items transactions) of Bangladesh Cricket
Board in accounts head & code wise for detailed presentation of the control
general ledger. Detail recording of the daily income and expenses transactions
will be made in this ledger as it requires. All transactions in cash journal
register and through journal vouchers will have to be recorded in this ledger
under different accounting sub-heads and sub-codes.

40.00 Bank Reconciliation Statement:

Bank statement providing all details of bank transactions should be obtained


from the bank by the fifth (5) day of the following month and scrutinize all the
transactions recorded in bank statement and reconcile with the Bank Journal
Register compulsorily on monthly basis.

Bank reconciliation statement should be prepared by the tenth (10) day of the
following month.

Appropriate reconciliation would also be required for bank charges, which are
generally accounted for only on receipt of bank statements.

The official designated for verification should review the completed bank
reconciliation statement very carefully on regular interval.

41.00 Formats to be Used:

BCB will also use the following formats in the prescribed forms designed in
connection with recording, posting, documenting, as evidences, finalizing all
financial transactions and preparing & presenting financial statements of
Bangladesh Cricket Board:

Advance Requisition Form and IOU Form;


Requisition of fund / indent form;
Store materials requisition form;
Purchase requisition form;

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Schedule of comparative statement form;


Purchase order form;
Goods receipt & inspection note form;
Conveyance Bill;
Log book sheet;
Travel request from;
Overtime request form;
Annual accounts statements form;
Accounts schedules form;
Staff advances statements form;
Accounts payable statements form;
Accrued liabilities statements form;
Physical inventory statements form;
Cash certificates form;
Bank confirmation certificates form;
Cash Scroll Book form
Bill Register
Expenditure Note Sheet
Agreement Register
Tour Program
TA / DA Bill
Cheque / Advice Register
Invoice
Miscellaneous Bill
Money Receipt
Requisition for Goods

42.00 Erasing & Overwriting Prohibition:

Erasure and overwriting of entries once made in the Cash journal register, Bank
journal register, ledgers and other registers are strictly prohibited. If a mistake
is discovered, drawing the pen through the incorrect entry and inserting the
correct one in between the lines should correct it. Every such correction should
be attested by the officer / cashier / AMF with his dated initials.

43.00 Conclusion:

The above mentioned forms and registers are important documents in


connection with true and fair view presentation of the financial statements of
Bangladesh Cricket Board. So, due care must be taken of these ledgers &
registers and be updated regularly with correct information. Special attention
should also be taken so that the entries to the forms and registers are made as
carefully as possible and deletion.
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Over writing or tearing of page with wrong entries should be avoided. If an


entry in the form / register is found to be erroneous, then initials should be
given after inserting correct data deleting the previous one.

Eraser, vanishing liquid / fluid should never be used to rectify a wrong entry.
Data transferred from certain column or space of original source will have to be
recorded in the respective column or page of the register.

44.00 - List of Books of Accounts:

Following is a suggested list of books of accounts can be maintained in a


Computerized Accounting Software with following options by BCB:

I. Cash Journal Register


II. Bank Journal Register
III. Control Ledger
IV. Subsidiary ledger books
V. Advance Register
VI. Accounts Receivable Register
VII. Accounts Payable Register
VIII. Stock & Store Register
IX. Cheque Register
X. Assets register

45.00 - Chart of Accounts:

The books of accounts / records shall be maintained strictly as per the Chart of
Accounts and other codes to facilitate generating any financial information on
demand with every detail. The designed system shall ensure the facility of
coding and de-coding financial data / information.

Appendix B shows the Chart of Accounts of BCB.

46.00 - Backup Documents:

Backup Documents mean documents that support the genuineness / approval /


authorization of the receipts / income and payments / expenditures.

Documents include Bills / Invoice / Cash Memos / Money Receipts given by the
Vendors / Shop keepers / Suppliers / Contractors / Service Providers / the
Vendors / Shop keepers / Suppliers / Contractors / Service Providers /
Employees etc.

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All backup documents must be cancelled by using a "PAID AND CANCELED"


seal.

47.00 - Numbering of Documents:

All payment vouchers, receipt vouchers, journal vouchers, money receipts, debit
notes, credit notes and invoices must be printed and sequentially numbered. All
these printed vouchers / documents must be used chronologically in order to
keep track of any missing vouchers / documents.

Any printed voucher / documents becoming unusable for any reason shall be
crossed out and marked as VOIDED and shall be kept with the voucher file.

48.00 - Record Keeping:

All vouchers shall be kept chronologically according to its number in a file.


Separate file for different series of vouchers / documents shall be maintained.
All voucher / documents files shall be kept under safe custody and only
authorized person shall be given access to those vouchers / documents.

All unpaid vouchers / Bills / Invoices / Cash Memos should be kept in a separate
file.

Monthly Reports:

For every Fixed Deposit and other deposits (both short term and long term) at
the end of each month a report should be generated showing the principal,
accrued interest, etc. All refundable deposits, invoices should be kept
systematically in a separate file. All Fixed Deposits and other deposits (both
short term and long term) certificates must be kept under the safe custody of
the Finance Manager. A separate Register should be maintained for the Fixed
Deposits and other deposits (both short term and long term)

Receivable, Payable and Accrued Expenses:

Journal Vouchers should be used for accounting for Receivable, Payable and
Accrued expenses. For all types of Receivable, payable and Accrued Expenses,
monthly statements showing all the transactions should be generated. At the
end of each year, direct confirmations should be sent for the Receivables and
payables. All invoices / bills received, irrespective of whether paid or not must

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be kept with the Journal Voucher and if not accounted for in separate files. BCB
must ensure that payments are made within the credit period.

Every after 6 (six) months balance confirmation letters should be sent to the
debtors / creditors for the receivable / payables as shown in the accounts. If
there are differences with the debtor / creditors the matter must be reconciled
immediately. Each advance, debtor and creditor account should be reconciled on
monthly basis to the ledger account. Break up of the each closing balance
should be readily available.

Taxes:

Tax should be deducted at source from all applicable payments as per the Tax
Rules as and when indirect taxes are paid it should be accounted for in the
books of account.

BCB should withhold tax from rental of moveable property paid to a non-
resident person with exemption of offshore banks or offshore companies
carrying out leasing business.

Stamp Duties:

BCB must ensure that Stamp Duties are paid as per government rules.

49.00 - Exchange Rate:

BCB CFO should regularly obtain exchange rate of US $ with the Local
Currency and preserve it. Only these exchange rates can be used for translation
purposes.

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CHAPTER 5
WRITING PROCEDURE OF FORMS, VOUCHERS &
RECORDING BOOKS

50.00 Instructions to write up Cash Journal:

At first, mention project / fund name for which the concerned cash journal
will be prepared;

And then, voucher number will be set-forth chronologically relating to the


date of incurring the financial transactions.

Put the date of preparation of cash journal.

Exchange rate of the date of happening the transactions to be mentioned for


foreign currency conversion purpose;

Accounts head and code from the chart of accounts has to be clearly specified
in the voucher format for both debit and credit sides. Other wise,
summarization of ledger is not accurately possible in computer software.

For better internal check system, it is compulsory to write up the Taka


amount in words in cash journal format correctly.

Narration of the occurring of the financial transaction shall be written in


legible way that shall be easily understood by all concern.

Before posting, the cash journal shall be checked compulsorily. Posting of


cash journal in the cash journal register through computer software will be
clearly earmarked with the words YES or NO along with the signature and
also mention the date of posting. Control general ledger, subsidiary and sub-
subsidiary ledger positing automatically generated in the computer software.

Finally, cash journal will be printed out in hardcopy, signed by the prepared
by, checked by and approved by.

51.00 Instructions to write up Bank Journal:

At first, mention project / fund name for which the concerned Bank journal
will be prepared;

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And then, voucher number will be set-forth chronologically relating to the


date of incurring the financial transactions.

Put the date of preparation of bank journal.


Name the bank account from which payment is to be made and receipt will
accumulate.

Mode of payment will have to be mentioned. i.e. cheque or Bank debit advice
or T.T in payment voucher.

Mode of receipt will be mentioned cheque or T.T in case of receipt voucher.

It is compulsory to write down the cheque number for better internal control
over bank payments and receipts;

Exchange rate of the date of happening the transactions to be mentioned for


foreign currency conversion purpose;

Accounts head and code from the chart of accounts has to be clearly specified
in the voucher format for both debit and credit sides. Other wise,
summarization of ledger is not accurately possible in computer software.

For better internal check system, it is compulsory to write up the Taka


amount in words in cash journal format correctly.

Narration of the occurring of the financial transaction shall be written in


legible way that shall be easily understood by all concern.

Before posting, the Bank journal shall be checked compulsorily. Posting of


Bank journal in the Bank journal register through computer software will be
clearly earmarked with the words YES or NO along with the signature and
also mention the date of posting. Control general ledger, subsidiary and sub-
subsidiary ledger positing automatically generated in the computer software.

Finally, Bank journal will be printed out in hardcopy, signed by the prepared
by, checked by and approved by.

The Bank Journal should be authorized through Expenditure Note Sheet, which
will be mentioned the description of the nature of expenditure, VAT at source
and TDS amount and shown the option of authorized personnel. Only duly
approved and authorized vouchers can be posted to the books of accounts.

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52.00 Instructions to write up Journal Voucher:

First point is that to note the fund name for which journal has been prepared;

Then, put the journal voucher number in the format;

Date of preparation of journal voucher is compulsory to write down;

Accounts head and accounts codes from chart of accounts to be accurately


mentioned in the journal voucher form with debit and credit amount. Then,
totaled both the sides.

Being implementation of internal check system it is compulsory to write up


the Taka amount in figure and in words correctly in the journal voucher
format.

In narration column, the causes of making the journal voucher will be


highlighted in details with putting references.

Finally, journal voucher will be signed by who prepared it and checked it and
then placed to Chief of Finance / Accounts for final approval.

Posting of non-cash transactions in ledgers should be clearly earmarked by


putting the YES or NO with date of posting in journal voucher format.

53.00 Instructions to write up Revenue Voucher:

First point is that to note the fund particulars for which sale voucher has
been prepared;
Then, put the Revenue voucher number in the format;
Date of preparation of Revenue voucher is compulsory to write down;
Accounts head and accounts codes from chart of accounts to be accurately
mentioned in the Revenue voucher form with debit and credit amount. Then,
both the sides should be totaled.
For implementation of better internal check system it is compulsory to write
up the Taka amount in figure and in words correctly in the journal voucher
format.
In narration column, the causes of making the Revenue voucher will be
highlighted in details giving references.
Finally, Revenue voucher will be signed by who prepared it and checked it
and then placed to Chief Financial Officer (CFO) for final approval.
Posting of Revenue transactions in ledgers should be clearly earmarked by
putting the YES or NO with date of posting in Revenue voucher format.
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54.00 Instructions to write up Cash Journal Register:

Cash Journal Register is a computer software generated format.


Computer generated cash journal register has two sides for recording of cash
journals

o Credit journals will be recorded in Receipts side and

o Debit journals will be recorded in Payment side.

Format is same for recording in both sides (credit and debit).

Cash Journal both debit and credit shall be posted in the Cash Journal
Register that is a computer software generated format.

Finally, cash journal register will be printed out in hardcopy & to check the
following by a responsible official:

At first, check the dates of the cash journal register. This will be the
date of debit and credit journals and sequence of writing up the date
should always be maintained accurately.

Then, voucher number from cash journal of debit and credit shall be
written so correctly to attain the goal of internal check and control.

To check the columns whether transactions are recorded as the details


of nature of expense. Whether accounts head and codes column are in
line with the accounts head and codes that are written in cash journal.

Then, check the Taka amount separately for cash payment and receipt
in cash journal register.

Check balancing amount after deducting total payments from total


receipt.

Finally, accounts personnel will sign cash journal register after detail
checking and verification of vouchers posting & balancing with the close of
every day's recording.

55.00 Instructions to write up Bank Journal Register:

Bank Journal Register is a computer software generated format.

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Computer generated Bank journal register has two sides for recording of
bank journals

o Credit journals will be recorded in Receipts side and

o Debit journals will be recorded in Payment side.

Format is same for recording in both sides (credit and debit).

Bank Journal both debit and credit shall be posted in the Bank Journal
Register that is a computer software generated format.
Finally, Bank journal register will be printed out in hardcopy & to check the
following by a responsible official:

At first, check the dates of the Bank journal register. This will be
the date of debit and credit journals and sequence of writing up
the date should always be maintained accurately.

Then, voucher number from bank journal of debit and credit shall
be written so correctly to attain the goal of internal check and
control.

To check the columns whether transactions are recorded as the


details of nature of expense. Whether accounts head and codes
column are in line with the accounts head and codes that are
written in bank journal.

Then, check the Taka amount separately for bank payment and
receipt in bank journal register.

Check balancing amount after deducting total payments from


total receipt in respective bank name wise at the end of the
month.

After balancing the Bank journal Register, the respective bank account will be
reconciled with Bank statement.

56.00 Instructions to write up Control General Ledger:

Control General ledger is also a computer software generated format.


The Debit and Credit of Control General Ledger will be automatically posted
through computer software simultaneously at the time of inputting the
posting of debit and credit of Cash Journals and Journal Vouchers in the
computer.

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Finally, cash journal register & journal voucher register will be printed out in
hardcopy and to check the following by a designated B.C.B official:

Firstly, to check the accounts head and accounts code very


carefully and accurately.

Check the correct date from cash journal and journal vouchers.

Check the debit and credit column Taka amount whether


recorded as per accounts head and code debit & credit basis from
cash and journal voucher.

Then, check the balance amount by balancing debit & credit


figure in line by line.

Finally, marking of debit and credit balances accurately and signed the cash
journal register and journal voucher register that these have been checked.

57.00 Instruction to write up Bank Reconciliation Statement:

First the balance as per bank statement for reconciliation purpose in


reconciliation statement.
Then, add all cheques cashed by bank but not entered into Bank Journal
Register.
Then, add all cheques deposited in bank but not collected by bank.
Then, add all cheques entered in to Bank Journal Register but not credited by
bank.
Then, account for the Bank interest credited in statement but not entered in
to Bank Journal Register.
Then, deduct all cheques issued but not presented in bank for payment.
Then, add all bank charges & commission debited in bank statement but not
entered in to Bank Journal Register.
The official designated for verification should review the completed bank
reconciliation statement very carefully.

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CHAPTER 6
MAINTENANCE OF REGISTERS

58.00 - Types of Registers:

Accounting offices of Bangladesh Cricket Board shall maintain the following


registers to record the financial transactions and its related information:

Fixed Assets Register


Salary and Payroll Payment Register
Cheque Issuing Register
Cheque/DD/PO Receipt Register
Income Tax Register
VAT Register
Stock & Store Register
Bill Register
Petty Cash Register
Advance Slip / IOU Register
Budget Register
Agreement Register
Work Order Register

59.00 - Fixed Assets Register:

All fixed assets acquired / disposed off shall be recorded as per Fixed Assets
Register format. A separate folio or set of folios shall be opened for each asset
group. All fixed assets on hand shall be recorded in the fixed assets register
individually. The register shall be kept up to date at all times and balanced at
the end of each month by the Bangladesh Cricket Board Management Office and
its Unit Offices.

The fixed assets shall be physically verified at the end of each year and results
should be reconciled with the fixed assets register and short / excess, if any,
should be adjusted in the books of accounts and Fixed Assets Register with the
approval of the competent authority of Bangladesh Cricket Board. Sold,
disposed off and damaged asset must be recorded in the appropriate column of
the Register. Depreciation on fixed assets will be recorded in the fixed assets
register in appropriate column.

60.00 - Salary and Payroll Payment Register:

Bangladesh Cricket Board Management Office and its Unit Office shall maintain
a register for payment of monthly salaries to the staff members. All employees
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should be encouraged to receive their salary through their individual bank


account or through cheques. This will reduce the risk of handling cash.

61.00- Cheque Issue Register:


To establish an effective internal control mechanism, cheque issue register shall
be effectively maintained by the Bangladesh Cricket Board Management Office
and its Unit Offices. Register to be maintained for recording cheques for
persons to whom cheques are issued, date, amount, indicating payment date,
cheque nos., purposes of payment, bank branch upon which cheques are drawn.
Separate cheque issue register shall be opened for individual bank account.
Cheque signatories shall compulsorily sign the register. Register shall
always be signed by a senior level officer of accounts Department & shall be
checked by another personnel.

Cheque Issue Register format is given in Appendix-J.

62.00 - Cheque/DD/PO Receipt Register:


To establish an effective internal control mechanism a cheque & demand draft
receipt register shall be effectively maintained by the Bangladesh Cricket Board
Management Office and its Unit Offices. This register is to be maintained for
recording cheques for persons from whom cheques & demand drafts are
received, date and amount, indicating receipt date, cheque nos., purposes of
receipt, bank branch upon which cheques and demand drafts are received. This
register shall always be signed by a senior level officer of accounts department
and shall be checked by another personnel.

63.00 - Income Tax Register:


Income Tax register shall always be maintained by Bangladesh Cricket Board to
control over the income tax deductions from the suppliers & consultants and
deducted amount are duly deposited to the Government fund through treasury
challan as per rules and regulations made for this purpose by the Income Tax
Ordinance 1984.

64.00 - VAT Register:

VAT register shall always be maintained by Bangladesh Cricket Board to control


over the VAT collections from suppliers / consultants & are duly deposited to the
Government fund through treasury challan as per rules & regulations as made
for this purpose by the VAT Act 1991.

65.00 - Stock & Store Register:

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Stock & Store Register shall be maintained for all materials purchased -
whether for works or for store or for sale. A separate folio or set of folios shall
be opened for each stock & store group. All stock & store items placed in store
or issued out of stock & store should be recorded in the stock & store register
individually. Store register to be recorded systematically all detail information
(opening quantity, purchases/received quantity, issue quantity, returns quantity,
balance quantity, unit rate and value) to the need of management for all related
purposes. The register shall be duly checked on regular basis and signed by the
Admin Department responsible for this purpose. All stock & store items in store
shall be inventoried at June 30 each year positively. All types of stock & store
register shall be up-to-date at all times and balanced at the end of each month.
Store related documents (Challan, GRN, Issue Slip etc.) should be maintained in
a separate file.

A suggested store system is described as below:

There are two types of stock & store items are maintained in Bangladesh
Cricket Board. One type is Printing & Stationery items and another type is
Sports Goods (Cricket Balls, Bat, Caps, Trouser etc.). For maintaining Printing &
Stationery stock, a store register should be maintained in Management Office
and its unit offices. Stores register also to be maintained for Sports Goods in
Management Office. Goods should be delivered to the store department along
with challan by the supplier and the storekeeper should physically check goods
with challan and put his seal, sign and store register folio page number on the
challan. If store keeper does not find the goods according to Work Order or finds
low quality goods then he notices to respective department / committee about
this and the department / committee should take necessary action for this. The
store keeper should use the Goods Received Note (GRN) for receiving of the
goods. After this store keeper should send the challan to the respective
Department / Committee. Store keeper should use the Issue Slip for issuing
goods and take signature of the goods receiver on the Issue Slip.

For sports related goods, another register should be maintained by committee


member for received goods and its proper utilization in the event/grounds. This
register will be checked and signed at the end of month or end of event by
respective committee chairman and Admin Manager.

66.00 Bill Register:

Party bill is received by respective department / committee, prepares committee


note sheet and forwards to accounts department for payment. A Bill Register
should be maintained by the respective department / committee and record the
transactions after receiving the bill. A control Bill register should also be
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maintained by Accounts department and record the transactions at the time of


receiving the bill along with related documents from the respective department /
committee. When the payment will be made to the party then record the
payment transaction in the both Bill Register. Reconciliation should be made at
month end between the department / committee Bill Register and Accounts
department control Bill Register and find out the non-presented bill (the bill
received by the department / committee but not forward to the accounts
department) and unpaid bill.
A bill register format is shown in Appendix C.

67.00- Petty Cash Register:

Petty Cash register to be maintained by the Bangladesh Cricket Board


Management Office and its Unit Offices to record systematically all detail
information (Petty cash fund received, payments, reimbursement amount and
balance outstanding) to the need of management for petty expenses made for
emergency purposes. The register shall be duly checked regularly and signed by
the accounts personnel responsible for this purpose.

68.00 - Advance Slip / IOU Register:

IOU / Advance Slip register shall be maintained by the Bangladesh Cricket


Board Management Office and its Unit Offices to record the Taka amount given
as IOU /Advance and to record the Taka amount adjusted / refunded by the staff
members of the Board only for emergency purposes or making expenses of very
small amount. The adjustment of advance will be made with respective bills
within four working days from the advance receipt date. But advance for away
tour or tournament will be adjusted within one weeks after completion of the
away tour or tournament.

69.00 - Budget Register:

A budget register shall be maintained by the Bangladesh Cricket Board


Management Office in an updated manner by the accounts personnel to control
the expenditure in any particular head. Before confirming the payment, budget
should be checked and verified and this is why the budget register should be
maintained regularly and correctly.

70.00 - Agreement Register:

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An Agreement Register shall be maintained by the Bangladesh Cricket Board


Management Office in an updated manner by the Accounts Department to
control and monitoring the Accounts Receivable and Accounts & Payable in any
particular party. The register shall be duly checked regularly and signed by the
accounts personnel and Admin personnel responsible for this purpose.

An Agreement Register format is shown in Appendix F.

71.00 Work Order Register:

A Work Order Register shall be maintained by the Bangladesh Cricket Board


Management Office in an updated manner by the Accounts Department to check
the timely completion of services according to its described nature. The register
shall be duly checked regularly and signed by the accounts personnel
responsible for this purpose. A Sub-Work Order Register should be maintained
in respective committee or department in the same form. The both register
should be updated timely and reconciled at month end.

A Work Order Register format is shown in Appendix O.

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CHAPTER 7
FINANCE & ACCOUNTS ACTIVITIES

72.00 - Finance & Accounts Activities:

Bangladesh Cricket Board finance and accounts activities can be subdivided into
five main specialized ways for the sake of better handling of its entire operations
/ functions VIZ:

i. Treasury, bills and salary activities;


ii. General accounting, ledger & final accounts activities;
iii. Revenue Accounting Activities;
iv. Purchase, Stock & Store Accounting Activities;
v. Budgeting, tax and internal & external reporting activities.

The details of the above activities are highlighted as follows:

73.00 Treasury, Bills and Salary Activities:

a) Handling of cash floats All receipts and payments by cash and bank
accounts;
b) Payment of various expense bills in cash or in cheque after proper
examination of these bills;
c) To exercise control over all banking transactions;
d) Withdrawal of necessary amount of cash from banks to carry out daily
cash transactions;
e) Preparation of cash requisition statement on need basis;
f) Proper, accurate and up dated writing of cash book (Cash Scroll Book) and
daily balancing;
g) Proper, accurate and up dated writing of Bank Book (Bank Journal
Register) and month end balancing;
h) Reconciliation of cash balance with physical balance of cash;
i) Preparation of IOU slip and file the duplicate for control and internal
cheek;
j) Preparation & checking of advance forms and their reporting;
k) Debit & credit vouchers preparation through cash journal only the
approved ones;
l) Debit & credit vouchers preparation through bank journal only the
approved ones;
m) Preparation of cash & bank payments and receipts summary as per
accounts heads and code on monthly basis;
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n) Preparation of journal vouchers for adjustments, rectification and for


other transactions as and when needed;
o) All types of correspondences with the banks;
p) Collections of bank statements accounts wise;
q) Collections of bank confirmation statements from all banks on monthly
basis;
r) Maintaining of bank accounts register / ledgers;
s) Preparation of bank reconciliation statement for all bank accounts on
monthly basis;
t) Preparation of daily cash and bank balance statements;
u) TA / DA bills checking with rules;
v) Budget provisions verifications;
w) Process of salary and bonus payments to staff members;
x) Preparation of bank advice for salary payments with detailed list of
individuals net salary payable;
y) Documentation of recording the various kinds of deductions from salary;
z) Processing all sorts of internal bills, their documentation, authentication,
approval, payments & recording accordingly;
aa) Processing all sorts of external bills (bills of contractors, suppliers
and other third parties), their documentation, relevancy, authentication,
approval, payments and recording accordingly;

74.00 General Accounting, Ledger & Final Accounts Activities:

a) Preparation, checking and verification of Journal vouchers for all non cash
transactions;
b) Posting of approved journal vouchers (non-cash) in computer accounting
software daily;
c) Posting of all cash transactions through cash-journal in Cash Journal
Register daily;
d) Posting of all bank transactions through bank-journal in Cash Journal
Register daily;
e) Properly and accurate posting and balancing of all types of registers and
sub - subsidiary registers on a timely basis;
f) Maintenance of more than one fixed assets register for better control;
g) Posting and balancing of fixed assets register.
h) Depreciation calculations of all fixed and other assets which are
depreciable assets;
i) Preparation of fixed assets schedules showing their depreciation and
written down value;
j) Preparation of Trial Balance;
k) Preparation of Income Statements.
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l) Preparation of Balance Sheet;


m) Preparation of all accounts schedules and statements;
n) Preparation of Notes to the Accounts / Financial Statements;
o) Finally, to confirm that the financial statements / accounts of B.C.B are
prepared as per the requirements and disclosure requirements of the
International Accounting Standards (IASs) as adopted in Bangladesh;

75.00 Revenue Accounting Activities:

a) Preparation of all revenue related activities for preparation of income


statements in presenting the financial statements;
b) Preparation of revenue related cash journal and their documentation &
recording properly;
c) Preparation of revenue related journal vouchers and their documents &
recording properly;

76.00 Purchase, Stock & Store Accounting Activities:

a) Maintenance of all related documents, papers, agreement, deeds with the


Purchase Orders;
b) Maintenance of disbursement records, their recording in the loan register
and update the documentation.

77.00 Budgeting, Tax and Internal & External Reporting Activity:

a) Budget and budgeting functions preparation of budgets for new and all
existing offices;
b) Collection of information & data in connection with formulation of budget;
c) Processing, editing & reviewing the collecting information and data in
connection with formulation of budget;
d) Setting of standards in relation to the formulation of budget;
e) Formulation of budget;
f) Maintenance of budget registers in all offices as per requirements;
g) Preparation of budget monitoring statements;
h) Preparation of variance statements;
i) Analysis of variances;
j) Assessment of actual results with the budgeted ones and if any deviation
found, then to pinpoint the actual causes;
k) To take necessary steps to eradicate or minimize this deviation in future
through more realistic budget preparation and / or better performance;
l) To give necessary guidelines & advice in order to rectify those
anomalies/mistakes that have been pinpointed by the internal auditors in
their periodic audit reports;
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m) All correspondences to the Tax authority;


n) All correspondences to the VAT authority;
o) Filling of tax returns of the staff members of the Board whose income are
taxable;
p) Processing of tax assessments;
q) Maintenance of tax deductions register for the staff members, suppliers
and for others who are related;
r) Deposit of money to Bangladesh Bank / Sonali Bank through Challan of the
deducted amount as advance tax from staff members and outsides parties;
s) Internal reporting to the management for decision making relating to the
information of accounts and finance as and when needed;
t) External reporting of financial accounting on the basis of B.C.B
requirements i.e scope of audit;
u) All types of correspondences to the Government where relevant;

CHAPTER 8
CASH TRANSACTION

78.00 - Duration of Cash Transaction:

In order to complete writing of Cash Scroll Books and their posting in the Cash
Journal Register through computer, daily cash transactions shall be closed at
least two hours before the close of the office.

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79.00 - Closing of Accounts:

Each day, all cash receipts & payments shall be entered into the Cash Journal
Register and it should be closed daily. Cash Officer (F&A) shall check and verify
the cash balance and Cash Journal Register at the end of each day and duly
signed. Manager (F&A) and CFO will verify the cash balance and verify the Cash
Journal Register at the end of each month and signed duly.

80.00 - Daily Cash Holding Limit:

The management may prescribe money limits for cash in hand in the
Management Office. When such limits are prescribed, cash in hand must not
exceed that limit.

Only cash officer (F&A) and Assistant Manager Finance (AMF) jointly shall be
responsible to hold liquid cash. Cash shall be drawn from bank to meet the daily
cash expenses. Requirement of cash shall be intimated through Money
Requisition. When the requisition of cash approved then breakup of previous
expenditure shall be approved at that time by the CEO and CFO. Such
requisition shall be received by accounts at least five hours before the closing of
banking hour. Required cash may be drawn from the bank on requisition.

However, after disbursement & receipt the cash, cash officer (F&A) and
Assistant Manager Finance (AMF) jointly may hold liquid cash to the extent of
Taka Taka 150,000 (One hundred and fifty thousand).

Other than above, in no cases, the office liquid money will be in the hand of any
staff member of the Board unless other wise permitted by the management. The
adoption of the principle of transacting cash business through bank is to keep to
the minimum the actual cash handling in the cash section.

81.00 Handling of Cash:

Office money should be kept in secured strong iron safe. The cash safe should
be double locked. One set of key shall be kept with the Cash Officer (F&A) and
the other set will remain with the Manager (F&A). Persons handing the cash
should be covered by insurance in addition to cash security to be provided by
them.
Cash Officer and Manager (F&A) who is responsible for the safe and security of
money must satisfy themselves that the iron safe is free from defects. If a defect
is detected or if there is even a doubt that the keys or their duplicates are
missing, immediately arrangement should be made for their replacement under
intimation to head of finance & accounts.

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82.00 - Cash Scroll:

Cash shall remain in the custody of finance and accounts department. At the end
of each day after making all transactions cashier, Cash Officer shall count the
cash physically and record on a cash count sheet and shall confirm the balance
with the Cash Journal Register balance. For cash scroll specific designed format
will be used.

83.00 - Cash Security:

While carrying office cash (liquid money) from the bank (for withdrawn
purposes) and to the bank (for deposition purposes), vehicles shall have to be
used and security guard shall have to be provided at its best level by the
management.

Bangladesh Cricket Board management should arrange for insurance to cover


the risk of carrying and deposition of liquid cash.

84.00 - Receipt in Cash Section:

No money should be received from any person without issuing proper receipt /
cash memo which inter-alia will state the name of person from whom it has been
received, amount both in figure and words, purposes for which it has been
received etc.

The money receipt / cash memo should be in the prescribed form. These forms
shall be printed in number, bound book forms, kept in safe custody and properly
accounted-for.

Normally cashier shall receive the cash by giving money receipt duly signed by
Cash Officer (F&A). The receipt will be prepared in triplicate, the original will
be issued to the depositor, the duplicate copy will be kept with voucher &
triplicate copy will be retained for record and audit verification.

Signature of the depositor must be obtained on counterfoil of the money receipt.


Over writing & erasing is strictly prohibited.

85.00 - Petty Cash and Payment Limit:

Petty cash will be maintained on imprest system with a limit of Taka 150,000
(One hundred and fifty thousand) only. Each IOU slip should be adjusted within
four seven (7) working days and any advances within fifteen (15) days after
completion of the events or assignment.

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At the time of adjustment of advance all backup documents like Bills I Invoices I
Cash Memos I Money Receipts given by the Vendors I Shop keepers I Suppliers
I Contractors I Service Providers I Employees should be received by the
concerned cashier.

The cashier & Cash Officer jointly shall maintain the imprest fund for
Bangladesh Cricket Board Management Office in Dhaka to take care of the petty
cash expenses. The limit of amount for each transaction will be Taka 10,000 (Ten
thousand) only with approval of CFO.

Under special circumstances the amount may be increased upto Taka 20,000
with approval from the Chief Executive Officer (CEO).

A Petty Cash book will be maintained for the Petty Cash management and the
Petty Cash Book must be kept updated.

At the end of each month Petty Cash must be physically verified by a responsible
officer.

86.00 - Cash deposited into Bank:

The cashier, cash officer and Manager (F&A) will make sure of the deposition of
the cash collected daily into bank and record the transaction immediately in the
Cash Journal Register.

The Cash Officer will prepare the pay-in slip. The Manager (F&A) and Chief of
F&A will make best arrangement to send the money in the bank.

87.00 Custody & Safeguarding of cash:

Cash scroll is balanced by cashier;


Physical cash is counted by Cash Officer and Manager (F&A) at day end;
Cash scroll is signed by both Cash Officer and Manager (F&A);
Kept at safe-custodian by two designated officers of Finance & Accounts.
Cash Officer and Manager (F&A) who is responsible for the safe and
security of money must satisfy themselves that the iron safe is free from
defects.
BCB management should arrange for insurance to cover the risk of
carrying and deposition of liquid cash.

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BANK TRANSACTION

88.00 General:

All funds (received) shall be deposited into the Bangladesh Cricket Board's
accounts with the bankers of the Bangladesh Cricket Board and shall not be
withdrawn except by cheque signed by allowed personnel (as per Delegation of
Financial Authorities). All receipts of money through cheque / draft / pay
order / transfer advice, bank account shall be debited and relevant source /
liability / income account is credited. Cheque / Draft / Pay order shall be
deposited into bank through deposit slip of the bank. General financial policy of
Bangladesh Cricket Board is to encourage receipts and payments through bank.

89.00 - Procedure of Opening Bank Account:

The bank accounts of Bangladesh Cricket Board shall be opened with the
approval of Executive Committee.

90.00 - Title of Bank Account:

All bank accounts will be in the name of the Bangladesh Cricket Board.

91.00 - Unit Offices (Outside Dhaka) Bank Accounts:

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Bangladesh Cricket Board shall open Unit Office bank accounts in any scheduled
bank in the Unit Office areas separately after taking resolution by the Executive
Committee of Bangladesh Cricket Board.

Fund transfer will be made by Management Office only after receiving the fund
requisition request and monthly expenditure from unit office statement and its
approval by the person as per the delegated authority of Bangladesh Cricket
Board Management Office. Bank account may be opened which shall be interest
bearing unless otherwise specified by Management Office.

92.00 - Operation of Bank Accounts:

The Constitution of BCB describes in provision 19 (4) that the bank


transactions will be operated with joint signature of any two persons
among the President, General Secretary and Treasurer or as per decision
of the Executive Committee. BCB has decided that the Bank account will be
operated as per decision of the Executive Committee. A suggested bank
signatories has been given in Delegation of Financial Authorities.

President has the authority to make any changes, amendments in the bank
signatory powers with the consent of the Executive Committee of Bangladesh
Cricket Board.

93.00 Signatories Details:

Details of cheque signatories for operating the bank accounts will be kept
confidentially in Finance and Accounts Department under safe custody. It
includes name, designation, specimen signature and initials, validity date. When
signatories are included / deleted, list should be placed to substitute previous
one.

94.00 - Cheque Counterfoil:

While issuing cheques, it is to be remembered that counterfoil of cheques shall


also be filled in & put the date of issue, name of payees, initials of the cheque
signatories, amount in Taka and words in brief.

95.00 - Cancellation of cheques:

If any cheque is issued but not presented for collection by the payee within six
months from the date of issue, the cheque shall be automatically canceled.
Accordingly, the finance and accounts department shall give reversal entry in
the Bank Book and keep a note in the bank reconciliation statement. Any loss or
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theft of the cheque / cheque book must be informed to the concerned bank
management at earliest possible time.

96.00 - Canceled Cheques:

The word "CANCELED" shall be written in the counterfoil as well as on the face
of the cheque when a cheque is required to be canceled.

97.00 - Cheque Issue Register:

Cheque Issue Register shall be maintained for each bank account separately in a
book in the prescribed manner and shall be updated always on daily basis and
counter signed by the competent authority of Bangladesh Cricket Board.

Cheque Issue Register format is given in Appendix-J.

98.00 - Demand Draft, Cheque & Pay-order Receipt Register:


Demand Draft (DD), Cheque & Pay-Order Receipt Register shall be maintained
for each bank account separately in a book in the prescribed manner and shall
be updated always on daily basis and counter signed by the competent authority
of Bangladesh Cricket Board.

99.00 - Payment from Bank:

Any payment exceeding Taka 10,000 (Ten thousand) shall preferably be made
through an account payee cheque and payment less than Taka 10,000 (Ten
thousand) may be made by cash from the cash in hand in Management Office
level and unit office level.

100.00 - Withdrawal of Cash from Bank:

For withdrawal of money (liquid cash) from the bank account for working cash
or for any operational expenses, a requisition for fund must be prepared for
approval in accordance with the delegated authority and withdrawal of cash
from bank shall be in accordance with the guidelines of "Delegation of Financial
Authority". When cash to be withdrawn, cash cheques should denote "Account
Payee Cancelled".

Accounts personnel shall always keep in mind that the maximum closing cash
balance in hand should not exceed Taka 150,000 (One hundred and fifty
thousand) after the day transaction in Bangladesh Cricket Board Management
Office and Taka 10,000 in Unit Offices.

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101.00 - Bank Statement and Bank Certificate:

Collection of monthly bank statements along with Bank Certificates confirming


bank balances on monthly basis and relevant advice from bank shall be the
responsibility of Finance and Accounts Department.

102.00 - Bank Reconciliation Statement:

After receiving the monthly bank statement, the bank balance shown in that
statement as of last day of the month must be reconciled with the balance
shown in the Bank Journal Register on the same day by preparing a bank
reconciliation statement.

Bank reconciliation statements shall be prepared by Assistant Manager (F/A)


duly checked by Manager Accounts & Finance and he shall be submitted for
approval of the Chief Financial Officer (CFO).

The bank charge or interest detected to be not incorporated earlier in the Bank
Journal Register should be entered in the Bank Journal Register by preparing a
voucher to this effect.

Any deposit / interest, payment or cheques not recorded in the bank accounts or
bank statement shall be reconciled by adding or deducting from the closing
balance as shown by the bank statement.

A reversal entry should be processed for canceling the cheque issue entry if the
cheque is found not presented within its validity period. Any difference should
be thoroughly checked and investigated with the bank.

103.00 - Ordering of New Cheque book:

Respective Cash Officer with the approval Chief Executive Officer (CEO) and Chief
Financial Officer (CFO) shall initiate for ordering new cheque book on reaching the
Cheque book order leaf.

While receiving new cheque book from bank respective Cash Officer (F&A) shall
count the cheque leaf and satisfy himself that the numbers of cheque leaves are
found in order.

104.00 - Safety of Cheque Books:

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Finance and Accounts Department shall be the custodian of chequebook and


shall ensure that chequebooks are preserved safety. To be kept under lock (safe
volt) and key by the Cash Officer and Managers (F&A) designated for this.

Fraud, defalcation and misappropriation of public moneys are largely attributed


to inadequate measures taken by the authorized officers for the safety and
security of the bank cheque books and bank pass books etc. The officers
authorized to sign and / or entrusted with the custody of the cheques / pass
books will be he held personally liable for losses due to laxity or their parts for
the safe-keeping and security of these books.

105.00 Receipts of Cheque / Demand Drafts / Pay-Order:

Cheques / demand drafts / pay-orders received payment of dues cannot,


however be admitted till they are cleared from the bank. Final money receipt /
cash memo in printed forms shall not be granted till the cheques are en-cashed
and proceeds credited to account.

A certificate of receipt quoting the number and the date of cheque tendered or a
receipt with the following remarks may be given:

Issued subject to collection of proceeds

Cheques / drafts received in the Accounts department must be deposited in to


the bank without any delay, preferably on the same day, when these are
received.

Delay in deposit involves question of safety and security and sometimes may
result in non-realization of the amount of the cheque.

106.00 Dishonor of Cheques:

In the event of cheques being dishonored by the bank on presentation, the fact
mentioning the causes of dishonor should be reported at once to the drawer of
the cheque with demand for immediate payment and mean while the entry in
the books of accounts should be reversed.

107.00 Payment for Lost Cheques:

If a cheque is reported lost, contact should at once be made with the bank on
which the cheque was drawn. The bank should be informed / instructed to stop

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payment on that cheque. The fact should be reported to the respective Police
Station.

Fresh cheque may be issued only after obtaining non-payment certificate from
the bank.

108.00 Closure of Bank Account::

Bank account will be closed after the written approval of the


Executive Committee.

FUND MANAGEMENT

109.00 - OPERATIONAL BANK ACCOUNTS:

Separate operational bank accounts should be maintained by BCB for different


purposes. The authorized signatories for these accounts should be nominated by
the Board:

BCB Bank Accounts:


BCB shall maintain two bank accounts one in Taka and other one in foreign
currency to carry out BCB normal business activities.

110.00 - FUND MANAGEMENT:

BCB must issue a money receipt at the time of receipt of the money (cash /
cheque / pay order / demand draft) from whatever source. Every single
collection must be deposited with the finance department on the same day of
receipt. Finance department shall deposit all collection to the nominated bank
account on the following day. The finance department shall immediately update
the system for all such funds received and enter in the books of accounts on the
same day.

111.00 - INVESTMENTS:

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Excess funds or otherwise as per decision of the Executive Committee / Working


Committee can be placed in short-term deposits, fixed deposits and other
savings instruments. The title of the investments must belong to BCB. These
deposits should only be placed in a reputable bank.

In no circumstances these investments can be pledged as security or guarantee


without the approval of the Executive Committee / Working Committee.
Record of each investment should be maintained separately with information
like Principal Amount of the Investment, Interest Accrued, Principal En-cashed,
Interest En-cashed, and Closing Balance etc. At the end of each month balance
confirmation for the investment should be obtained and differences (if any) must
be reconciled immediately.

112.00 - LOAN:
BCB may take loans from different sources with prior approval of the Executive
Committee / Working Committee. No loan can be received in cash; all loans
must be received directly through the bank account. No loan can be created by
a book entry.

113.00 - ADVANCE:

Advances can be given on the basis of "Requisition Forms". Before making an


advance the " Advance Form (Appendix - F)" must be filled in. All advances
should be recorded in the Advance Register.

Advances should be adjusted with in fifteen (15) working days after execution of
the event or assignment or travel etc.

At the time of adjustment of advance all backup documents like Bills I Invoices I
Cash Memos I Money Receipts given by the Vendors I Shop keepers I Suppliers
I Contractors I Service Providers I Employees should be received by the BCB.

All expenses should be charged against appropriate account heads as per the
Chart of Accounts.

114.00 - SALE OF COMMERCIAL RIGHTS AND SPONSORSHIP:

For all sales of commercial rights ie TV rights and Sponsorship, competition will
be encouraged. Following will be the procedure of sale of commercial rights ie
TV rights and Sponsorship:

Step-1: Marketing & Commercial Committee shall give advertisement in

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the media as per Provision 16 (11) of BCB Constitution.

Step-2: Sealed Quotations will be submitted by the bidders.

Step-3: Chairman Tender & Purchase Committee and CFO will present
the quotations to the Finance Committee with competitive analysis.
Finance Committee will select the highest bidder and present to the
Executive Committee / Working Committee for approval.

Step-4: Executive Committee / Working Committee will approve the


highest bidder. After approval the highest bidder, the Accounts
Department shall record the transaction relating to highest bidder in the
Agreement Register (Appendix F).

115.00 - PROCEDURE OF RECEIVING MONEY:

Source of receipts of the BCB may be as follows:

Sale of television rights


Sponsor ship rights
Sale of tickets
ICC/ACC Championship Money,
Local broadcasting revenue ,
National League participation money,
Investment income and
Other Income.

Other income:

Income, which cannot be classified under any of the above groups, shall be
treated as other income & entered in the receipt side of the Cash Journal
Register or Bank Journal Register (depend on cash or bank transaction).

Interest on FDR is short term investment, which will be account for accrual
basis with applying interest rate and number of days invested out of matured
duration at that end of period. Bank interest earned on Savings account, sale of
waste & scraps materials are to be treated as other income.

The procedures for receiving the money are as follows:

Invoice Preparation:

B.C.B should prepare an invoice and send to the third parties in due time as per
agreement for collection of the Sale of television rights, Sponsor ship rights,
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ICC/ACC Championship Money, Local broadcasting revenue and National


League participation money. B.C.B shall also monitor the invoice after a certain
period for early realization. Invoice must be numbered in sequence.

Format of Invoice is given in Appendix-K.

Money Receipts / Cash Memo & its recording:

Money Receipts / Cash Memo are to be prepared along with Invoice number and
issued to the concerned parties / customers on receipt of any fund and income
by the BCB. Money receipts / Cash memo must be pre-numbered.

Format of Money Receipt is given in Appendix-M.

Money Receipt shall be prepared in three (3) copies, original receipt goes to the
payer, the second copy will be attached with the credit voucher and third copy
will be in the file or reserve copy. Money receipt shall be checked and then place
it for recording the Cash Book and at the day end cash scroll is checked with
physical cash and duly signed by cashier/ cash officer, and then keep it in vault,
which is operated by joint custodian.

A Cheque / Demand Draft / Pay-order Receipt Register shall be opened and be


recorded chronologically with detail information on daily basis and
authenticated by competent personnel of B.C.B.

All receipts (cash, cheques, demand draft, pay order etc.) shall be deposited at
the earliest opportunity, in the bank by filling in the pay-in-slips, after due
verification and approval and then record it in the Cash Journal Register in the
computer through preparing cash journal - credit voucher.

A - Cash Receipts System:

Every employee of Bangladesh Cricket Board shall be personally


responsible for the money (liquid cash) that passes through his hand and
for the prompt record of receipts in the manner prescribed below. All
money, not banked, shall be kept in a strong safe;

All receipts, other than cash drawn from bank for payments, must be
deposited to bank intact preferably on the same day or positively on the
next morning;

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Cash shall be received by cashier or by any other person deputed by the


management in his / her absence;

Money Receipt (MR) / cash memo must be issued immediately on receipt


of cash. The cashier will enter the receipt in Financial Management
System (FMS) in the computer from where Money Receipt will be
generated in the printer;

Money Receipt / Cash Memo is to be checked and signed by an officer


(F&A) and be issued to the payer;

The receipt is recorded in cash scroll;

Credit voucher will be generated in the FMS that will be checked by the
Manager (F/A) and countersigned by Chief of F&A;

Credit Voucher is posted in the FMS in the computer at the day end;

Cash scroll will be checked with physical cash and signed by Cashier,
Officer (F&A) at the day end;

The joint custodian as designated will keep cash in vault.

B - Cheque Receipts System:

Mail will be opened at the reception by a responsible officer who will enter
the checks/drafts/pay order etc. and the Cheques/drafts/POs/DDs will be
handed over to Finance and Accounts Department;

Concern designated person will enter the instruments


(Cheques/draft/PO/DD) in the appropriate receipt register. He will check
the entries made by the reception desk and will correct the mistake if any.
The system will accept the transaction on accepting by concern staff
member;

He will sort out the instruments (Cheques/draft/PO/DD) and will arrange


to deposit those instruments in respective bank accounts;

He will then prepare pay-in-slips which is checked by Assistant Accountant


and will send the instruments to banks on the same day. Assistant
Accountant will check the pay-in-slips again after depositing whether the
banks properly received those.
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Dishonored / returned cheques:

Dishonored / returned instruments will receive by Assistant Accountant


from bank;

He will check the reasons for dishonor and will put up the case in a file
that will go to the Chief of F&A via Manager (F&A);

The dishonored instruments will then be sent to the respective sender


with a forwarding letter stating the reasons of dishonor and asking them
to send the instrument back after correction or to send a fresh instrument
with in three days;

Responsible accounts personnel will check the position daily and will follow
up the cases.

116.00 PAYMENT PROCEDURE:

116.01 PAYMENT PROCEDURE ON SPECIFIC PAYMENT:

A. Payments to suppliers and for services:

Requisition from the respective department / committee for expenditure is


raised and sent for approval of proper and competent authority as per
Delegation of Financial Authorities;

Expenditure shall be approved after comparing with related approved


budgeted amount after being recommended by the appropriate Tender &
Purchase committee;

All procurement will be made as per BCBs procurement policy. Latest Trade
Licence, latest Tin Certificate and VAT Registration Certificate of each party
must be obtained with each quotation / News Paper Advertisement / Press
Conference Letter.

The respective department / committee prepare work order and send the
work order to the supplier and the supplier sends the goods to the store
according to work order. The store keeper shall count the goods physically
and checks with related challan. After confirming the goods, the store keeper
records the goods in the store register and puts his seal and signature on the
challan and puts store register page number behind the challan. The Store
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Keeper sends the challan along with goods to the respective department /
committee.

The supplier will submit the bill to the respective department / committee.
The respective department / committee shall check the bills quantity and
description with challan. After checking the bill, the respective department /
committee shall record the bill transaction in their Bill Register (Bill
Register, Ref. point 66) and prepare a department / committee Note
Sheet and attach the relevant documents (three spot quotations, work order,
approved budget copy, certified challan copy, approved bill copy ect.). The
department / committee Note Sheet should be approved by the departmental
head or Committee Chairman where applicable. The department / committee
shall forward the Note Sheet along with relevant documents to Accounts
Department for payment.

The Accounts Department shall check the bills accuracy and relevant
authenticated documents. The Accounts Department shall record the bill
transaction in their Control Bill Register (Bill Register, Ref. point 66)
and prepare an Expenditure Note Sheet for payment and send the same to
the Chief Financial Officer (CFO), Chief Executive Officer (CEO), Chairman
Finance Committee and General Secretary for approval. The signature of
mentioned these persons must be obtained before payment. The VAT as per
VAT Act.-1991 and Tax deducted at source (TDS) as per Income Tax
Ordinance-1984 will be deducted at source from the bill at the time of
payment and is to be mentioned in the Expenditure Note Sheet. A suggested
Expenditure Note Sheet is given in Appendix D.

After approval, the Accounts Department will prepare the cheque. The
cheque will be signed as per Delegation of Financial Authorities.

When approving a payment, all supporting vouchers or documents must be


canceled (by affixing a rubber stamp worded "PAID AND CANCELED") to
minimize the risk of a double payment subsequently being made by mistake
or manipulation.

B. Payments to Tour Organising Committee (Advances and Settlements):

All tour expenses shall be included in the budget.

These payments shall include daily allowances and traveling allowances for
inbound tours, tour fees for outbound tours and other tour expenses.

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Daily allowances and traveling allowances for inbound tours and the tour fees
for outbound tours shall be at the rates recommended by the Chief Executive
Officer and the Tour Organising Committee (TOC) and approved by the
Executive Committee.

Where the tournament with foreign team then a Matter of understanding


(MOU) should be maintained. Accommodation facility, TA/DA rate, number of
players and Match Officials, date of arrival and date of departure should be
mentioned in the Matter of understanding (MOU).

On production of an itinerary, Tour Organising Committee (TOC) and the


Management team shall meet the venue Manager and agree on the advance
requirement.

Tour Organising Committee (TOC) shall prepare a Tour Program as per


(Appendix- H) and shall describe the expenses as categorised of venue
expenses.

On production of an itinerary, Tour Organising Committee (TOC) and the


Management Committee shall meet the Venue Manager and agree on the
advance requirement. TOC shall prepare Advance Requisition form
(Appendix- E) with comparing with budget copy and approve by Chairman.
TOC forwards the approved requisition copy with related documents
(itinerary, Tour Program, budget copy, approved TA / DA rate, etc.) to
accounts department for payment. The Accounts Department shall prepare
an Expenditure Note Sheet and send the same to the Chief Financial Officer
(CFO), Chief Executive Officer (CEO), Chairman Finance Committee and
General Secretary for approval. After approval of the Expenditure Note
Sheet, the accounts department shall give the advance.

On completion of the tour, the Venue Manager shall settle the advance
received with bills for expenses.

Invoices for BCB cricket expenses shall be received directly in the Tour
Organising Committee (TOC). TOC shall prepare a committee Note Sheet and
attach the relevant documents (three spot quotations, work order, approved
budget copy, certified challan copy, approved bill copy ect.). The committee
Note Sheet should be approved by the Committee Chairman. The committee
shall forward the Note Sheet along with relevant documents to Accounts
Department for payment. The accounts department shall prepare an
Expenditure Note Sheet and approved it by the competent authority. After
approval of the Expenditure Note, the Accounts Department shall pay direct
to the suppliers. TOC and accounts department should follow the procedures
of payments to suppliers and for services (mention in point 116.01
A).

Necessary Tax deducted at source (TDS) as per Income Tax Ordinance-1984


and VAT at source as per VAT Act.-1991 will be deducted at source.

C. Imprest to Team manager:


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The imprest given to the Team Manager for outbound tours shall depend on
the duration of the tournament and shall be decided by Chief Executive
Officer (CEO) and the Tour Organising Committee Chairman.

Team Manager shall prepare advance requisition form with comparing with
budget copy and approve by Chairman.

On completion of the tour the Manager shall within 15 days on return to


Bangladesh, settle the advance received with documents as proof of
expenditure.

D. Grants to Divisional / Sports / Club / District Cricket Associations

Divisional / Sports / Club / District Cricket Associations shall receive annual


grants.

The quantum of the grant shall be approved by the Executive Committee.

Grants should be provided for in the annual budget or as supplements


approved by the Executive Committee.
Cricket Committee of Dhaka Metropolice (CCDM) should certify that the
grant given in the previous year has been accounted for in an audited
statement of accounts prior to the release of the next grant. The grant should
be spent for Cricket Development activities only.
After spent of the grant, Divisional / Sports / Club / District Cricket
Associations should submit all of expenditures documents to Accounts
Department of BCB. All of documents be should certified by CCDM
Chairman. Divisional / Sports / Club / District Cricket Associations should
follow the procurement policy of the BCB.

E. Payments to Umpires:
All expenses shall be comparing with budget and approve by Chairman.

When payment made for Match Fees, TA/DA and Accommodation of Match
Officials then related statement of Match Fees, TA/DA and Accommodation of
Match Officials shall be prepared by Umpires Manager according to
attendance as per Match Referee report and Match Score Card. A Committee
Note Sheet shall be prepared by Umpires Manager and approved by the
Chairman Umpires Committee. Umpires Manager shall forward the
Committee Note Sheet along with following documents to Accounts
Department for payment :
i. An approved list of Match Officials (category wise Umpire, Scorer, D/L
Manager, etc.). This list should be approved by the Executive
Committee.
ii. Approved Match Fees rate. Match Fees rate shall be approved by the
Executive Committee.

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iii. Approved TA/DA slab. TA/DA slab shall be approved by the Executive
Committee.
iv. Approved Accommodation rate. Accommodation rate shall be approved
by the Executive Committee.
v. Match Referee Report and Match Score Card;
vi. Approved Allotment letter. Allotment letter shall be approved by the
Chairman Umpires Committee. If any Match officials will replace then
amends the Allotment letter and payment should be made according to
amended allotment letter.
Where the payment made for Match Fees and TA/DA, Accounts Department
shall check the Payment Statement with related documents and prepare an
Expenditure Note Sheet and approved it by the competent authority. After
approval of the Expenditure Note, Accounts Department shall prepare
account payee cheque and sign it by the competent authority and pay to the
respective Umpire.

Invoices for Umpires expenses shall be received directly in the Umpires


Committee. Umpires Committee Manger shall prepare a committee Note
Sheet and attach the relevant documents (three spot quotations, work order,
approved budget copy, certified challan copy, approved bill copy etc.). The
committee Note Sheet should be approved by the Committee Chairman. The
committee shall forward the Note Sheet along with relevant documents to
Accounts Department for payment. The accounts department shall prepare
an Expenditure Note Sheet and approved it by the competent authority. After
approval of the Expenditure Note, the Accounts Department shall pay direct
to the suppliers. Umpires Committee and accounts department should follow
the procedures of payments to suppliers and for services (mention in
point 116.01 A).
Necessary Tax deducted at source (TDS) as per Income Tax Ordinance-1984
and VAT at source as per VAT Act.-1991 will be deducted at source.

F. Expenses relating to match fees, Prize money and Ground hiring:

The Tournament Committee shall recommend on the rates payable as match


fees from time to time to the Executive Committee. The rates payable as
match fees shall be approved by Executive Committee Meeting.
This recommendation shall be within the budgetary allocation of Leagues /
Tournaments.
Match fees shall be paid only at the conclusion of the match.
On the conclusion of the match, Chairman Tournament Committee shall
certify the amounts payable to each player and the match fees.
Ground hire shall be paid direct to the club/owners of the ground.
Prize money to teams other than prize money of individual players shall be
paid to the club.
Individual players prize money shall be paid direct to them.
The payment should be made by Account Payee Cheque.

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G. Club Participation Fees:

The club participation fee shall be paid to all member clubs annually.
The Executive Committee shall decide rates for club participation fees each
year.
The club participation fee shall be comparing with budget.
Tour Organising Committee shall prepare a list of payable participation fees
and this list should be approved by Chairman Tour Organising Committee
and Chairman Cricket Committee of Dhaka Metropolice (CCDM).
Tour Organising Committee shall prepare a Committee Note Sheet and
forward to Accounts Department for payment.
Cricket Committee of Dhaka Metropolice (CCDM) and Tour Organising
Committee shall provide the Finance Department with a certified list of
participation fees payable to the clubs.

H. Contract Payments to Players

Players contracts shall for valid from March of one year to February of the
next year.
Cricket Operation Committee Manager shall prepare a players status report
according to players performance of various leagues and international
matches {Provision 162 (Gha) of BCB Constitution}. He shall prepare a
list of proposed contract players base on players status report and submit it
to Executive Committee for approval.
Executive Committee shall approve the list of proposed contract players and
also approve the rate of payment.
Rate of payment, other benefit and duration shall be stated in the contract.
Payments shall be made monthly and shall be at the end of the month or as
provided in the contract.
Cricket Operation Committee shall be responsible to prepare all types of
payment (Performance Bonus, Winning Bonus, Match Fees, TA/DA, Players
monthly salary, etc.) statement. Cricket Operation Committee Manager shall
prepared a Committee Note Sheet and forward to Accounts Department for
payment. Payment Statement and Committee Note Sheet must be approved
by the Chairman Cricket Operation Committee.

Payment of performance bonus, winning bonus and match fees shall be


made according to approved Score Card (approve by Computer
Analyst) and considering the following matters:

Approved allocation of Match Fees and winning bonus for 12 th,


13th and 14th man.
Approved participating player list (approved by the Executive
Committee / Working Committee).
Approved Performance Bonus Mechanism Sheet
Match Fixture

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Players Gradation sheet should be up to dated regularly by Cricket


Operation Committee Manager according to international played
matches and players salary statement should be made according to
Players Gradation sheet and contract paper.

Accounts Department shall check the Payment Statement with related


documents and prepare an Expenditure Note Sheet and approved it by the
competent authority. After approval of the Expenditure Note, Accounts
Department shall prepare account payee cheque and sign it by the competent
authority and pay to the respective player.
Payment shall be approved after comparing with related approved budgeted
amount.
Necessary Tax deducted at source (TDS) as per Income Tax Ordinance-1984
will be deducted at source (where the TDS is applicable as per Income Tax
Ordinance-1984).
Adjustment for over/ under shall be made on the last payment for the year to
ensure that the total payment is that specified in the contract.

I. Payments relating to Game Development:


With an eye to promoting the age-level cricket in the country, BCB has taken
some realistic initiatives that include training-up the juvenile crickets under the
guidance of some overseas coaches for a stipulated period of time and
thereafter their inclusion in the national team which is also looked after by a
foreign coach along with an assistant round the year. Payment procedures
relating to game development are as follows:

i. Payment against Game Education and Training:

Training Program activities should be included in the budget.


A monthly or quarterly training program should be approved by the
Executive Committee / Working Committee.
Payment shall be approved after comparing with related approved budgeted
amount.
Attendance statement should be maintained at the time of training program
and this statement should be certified by Game Development Committee
Manager and Chairman.
Payment shall be made according to certified attendance statement data.
Game Development Committee shall prepare the payment statement and
Committee Note Sheet and also forward to Accounts Department for
payment. Payment Statement and Committee Note Sheet must be approved
by the Chairman Game Development Committee.

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Accounts Department shall check the Payment Statement with related


documents and prepare an Expenditure Note Sheet and approved it by the
competent authority. After approval of the Expenditure Note, Accounts
Department shall prepare account payee cheque and sign it by the competent
authority and pay to the respective trainer and trainee.
Invoices for Training program expenses shall be received directly in the
Game Development Committee. Game Development Committee Manger shall
prepare a committee Note Sheet and attach the relevant documents (three
spot quotations, work order, approved budget copy, certified challan copy,
approved bill copy ect.). The committee Note Sheet should be approved by
the Committee Chairman. The committee shall forward the Note Sheet along
with relevant documents to Accounts Department for payment. The accounts
department shall prepare an Expenditure Note Sheet and approved it by the
competent authority. After approval of the Expenditure Note, the Accounts
Department shall pay direct to the suppliers. Game Development Committee
and accounts department should follow the procedures of payments to
suppliers and for services (mention in point 116.01 A).
Necessary Tax deducted at source (TDS) as per Income Tax Ordinance-1984
and VAT at source as per VAT Act.-1991 will be deducted at source.

ii. Payment to Under-14, 15, 17 and 19 players:

Game Development Committee Manager shall prepare a players list after


recommending of the Game Development coach and place to Executive
Committee / Working Committee for approval.
Executive Committee shall approve the list of proposed players, rate of
payment and other benefit.
Game Development Committee shall be responsible to prepare all types of
payment (Performance Bonus, Winning Bonus, Match Fees, TA/DA, etc.)
statement. Game Development Committee Manager shall prepared a
Committee Note Sheet and forward to Accounts Department for payment.
Payment Statement and Committee Note Sheet must be approved by the
Chairman Game Development Committee.

Payment of performance bonus, winning bonus and match fees shall be


made according to approved Score Card (approve by Computer
Analyst) and considering the following matters:

Approved allocation of Match Fees and winning bonus for 12 th,


13th and 14th man.
Approved participating player list (approved by the Executive
Committee / Working Committee).
Approved Performance Bonus Mechanism Sheet
Match Fixture

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Accounts Department shall check the Payment Statement with related


documents and prepare an Expenditure Note Sheet and approved it by the
competent authority. After approval of the Expenditure Note, Accounts
Department shall prepare account payee cheque and sign it by the competent
authority and pay to the respective player.
Payment shall be approved after comparing with related approved budgeted
amount.
Necessary Tax deducted at source (TDS) as per Income Tax Ordinance-1984
will be deducted at source (where the TDS is applicable as per Income Tax
Ordinance-1984).

J. Sponsorship Payment

Sponsorship payment shall be made to all players, the manager, coach and
the physiotherapist involved in a series during the period of sponsorship
agreement.
The payment shall be according to the rates specified in the contracts.
The Accounts Department shall ensure that these contracts are available in
the department and shall ensure that the certified payment is in accordance
with the contract.
The Chief Executive shall issue the certificate for payment.

K. Payments to Team Management

Payments in this category shall be according to contracts signed with BCB.

The payment shall be made as per the terms in the contract.

L. Payments of Guarantee fees

Guarantee fees shall be paid to Cricket Boards of visiting teams.

The amounts to be paid shall be those specified by the International Cricket


Council

At the end of a series for which the venue was Bangladesh, Accounts
Department shall receive instructions for payment from the Chief Executive
Officer.

The reciprocal payments shall be accounted for by journal entries.

Payments shall be made only when there are differences in the reciprocal
payments.

The Accounts Department shall then make arrangement with the bank at
which the FCBU account is held to effect a transfer.

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M. Payment for infra-structure Development


Payment for infrastructure may be made for own and leased assets shall be
recommended by National Sports Council (NSC) and shall be approved by the
Executive Committee.
Payments for improvements for international and club venues shall be within
the budgetary allocation for grants.

The Executive Committee shall approve development work.

When development work is contracted the procedure for civil construction


work should be followed.
If the contract specifies a performance bond and/or a mobilisation advance
bank guarantees to the required value shall be forwarded by the contractor
before commencement of work/ release of mobilisation advance.
All contract documents for infrastructure development shall be made
available to the Accounts Department.
The Completion work and payment for completion work must be certified by
Contract Manager, National Sports Council (NSC) Co-ordinator and Assistant
Accountant.
The Accounts Department shall ensure that the payments are according to
the terms of the contract.

N. Payment of Salaries & Allowances:

A monthly attendance statement shall be prepared by Human Resource


Department and shall be certified it by the HR Manager. Payroll statement shall
be prepared by Accounts Department with considering of the attendance
statement and other Human Resource rules. Payment of salaries of Bangladesh
Cricket Board staff members shall be made through bank transfer advice or
cheque. Each employee shall open a bank account in his own name with the
same bank where Bangladesh Cricket Board maintains its account and accounts
number shall be intimated to the Finance & Accounts Department.

Accounting office shall issue transfer advise letter to the bank for total amount
of monthly salary payable to credit the individual account of each staff member
with the amount written against each individual.

The accounting offices shall maintain a salary register, which shall be prepared
every month.

Salary register shall be prepared considering the following points:

a) Name and designation;


b) Number of working days - as per attendance register;
c) Increment, Promotion, Suspension, Transfer order / instruction;

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d) Leave without pay - as per leave register;


e) Other deductions like Advance, Tax, etc.;

All the staff members working at different offices of Bangladesh Cricket Board
will be paid their salaries on or after the last working day of the month.

O. Procedure of Letter of Credit:

Letter of Credit relating to Imported Goods:

The procedure of Letter Credit regarding of imported goods are as follows:

Requisition from the respective department / committee for expenditure is


raised and sent for approval of proper and competent authority as per
Delegation of Financial Authorities;

Expenditure shall be approved after comparing with related approved


budgeted amount after being recommended by the appropriate Tender &
Purchase committee;

All procurement will be made as per BCBs procurement policy.

BCB should collect Pro-forma Invoice (mentioned with Goods description,


Quantity, Rate and Delivery Date) from various parties and select the party as
per procurement policy and sends the Purchase Order to supplier.

Before opening L/C with Scheduled Bank the department / committee shall
prepare a department / committee Note Sheet for payment of L/C value to the
Bank. The department / committee Note Sheet should be approved by the
departmental head or Committee Chairman where applicable. The
department / committee shall forward the Note Sheet along with relevant
documents to Accounts Department for payment.

BCB opens a L/C with Scheduled Bank. At the time of opening L/C all types of
documents should be filled up and submitted to the Bank. At the time of
submitting of the documents to the Bank, BCB to be deposited the prescribed
L/C Margin as per H.S Code. The Bank issues a Debit Advice for L/C Margin
amount to the BCB. Before opening L/C, BCB pays the Marine Insurance
premium.

After completion of the above work, the Scheduled Bank transmits the Letter
of Credit (L/C) to the supplier mentioned Bank. After transmission of the
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Letter of Credit (L/C), the Scheduled Bank sends a Letter of Credit (L/C) copy
to BCB. BCB directly communicates with the supplier for timely shipment
(time mentioned in the Letter of Credit -L/C copy).

At the time of Shipment, the supplier will inform BCB about the Shipment
Status (Name of Ship, Name of Ship Agent, Port of Loading, Port of
Destination, Target Date, ect.).

When the goods are shipped then the supplier will send a full set of
documents (Invoice Copy, Bill of Landing Copy, Weight and Packing List, Ship
Certificate, Foreign Chamber of Commerce Certificate, etc.) to the BCBs
Scheduled Bank and also sends soft copy by E-Mail or Fax copy by Fax to the
BCB. The original full sets of documents will be reached to the BCB within 15
days of the goods delivery. If the goods will be shipped by Air then goods will
be cleared from the Customs within 5 days. To avoid demurrage, certified the
full set of printed or Fax documents by the Scheduled Bank. If the goods will
be shipped by Vessel then the original full set of documents will be received
by the Buyer before goods reached. The Scheduled Bank will pay the balance
amount of the L/C to the Supplier mentioned Bank and give a Debit Advice to
the BCB. BCB will select Clearing & Forwarding Agent after collect three
spot quotations and send the above certified full set of documents (if goods
delivered by Air) / Original full set of documents to the C & F. The Clearing &
Forwarding Agent will release the goods after completion of the Customs
formalities. The Custom will assess goods value of the goods on the basis of
above set of documents and charge customs duty and recorded all in the Bill
of Entry.

The Goods will be delivered to BCB store department by the Clearing &
Forwarding Agent. The store keeper shall count the goods physically and
checks with related packing list. After confirming the goods, the store keeper
records the goods in the store register and puts his seal and signature on the
packing list and puts store register page number behind the it. The Store
Keeper sends the packing list along with goods to the respective
department / committee.

Clearing & Forwarding Agent will submit the bill of entry, invoice and any
other L/C related documents to the respective department / committee. The
C&F party will charge to BCB for his commission and settled custom amount.

The respective department / committee shall check the quantity, foreign


currency amount and goods description in L/C related documents. After
checking the L/C documents, the respective department / committee shall
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prepare a department / committee Note Sheet for payment of C & F payable


amount along with attaching the relevant documents (three spot quotations
of C & F, work order to C & F, approved budget copy, bill of entry, invoice,
packing list and any other L/C related documents ect.). The department /
committee Note Sheet should be approved by the departmental head or
Committee Chairman where applicable. The department / committee shall
forward the Note Sheet along with relevant documents to Accounts
Department for payment.

After approval, the Accounts Department will prepare the cheque. The
cheque will be signed as per Delegation of Financial Authorities.

The above mentioned documents to be kept in respective L/C file. A separate


Letter of Credit (L/C) register mentioning with details information to be
maintained in the BCB for proper recording the L/C transaction and its
adjustment. It helps to calculate accurate valuation of the goods.

116.02 - Responsibility of the Requisitioner:

Work Order is matched with the quotation.


Invoice is matched with the Work Order and /or contract.
Ensure that goods have been received in good condition or services rendered
have been properly performed.
Quantities, prices and calculations have been properly checked.
Duly approved invoices shall be received expeditiously in Accounts
Department for payment and accounting.

116.03 - Responsibility Finance Division:

Checking

In the case of a payment to a supplier, quantity, price and calculation on


invoice and supporting documents should be checked against the Work
Order/Quotation and the Goods Received Note.
For all payments the supporting documents are certified for payment by
the requisitioner and he shall ensure their arithmetical accuracy.
The payments shall be made with budget limit. The Accounts head and
budget head must be similar with each other.
All payment vouchers shall be checked by the Accountant and
authorised by the Head of Finance before they are submitted for
cheque writing

Coding

verify the correctness of the allocation of accounts code

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116.04 - CHEQUE PAYMENTS:

CHEQUE PREPARATION

After payment vouchers are certified a cheque is prepared in accordance


with the regulations governing the bank accounts.
Every cheque payment shall be supported by a payment voucher and all
relevant documents
Issue the cheque in the name of the Payee and cross it NOT
NEGOTIABLE /ACCOUNT PAYEE ONLY except in cases where requests
for open cheque have been made and approved by the Chief Executive.
Stamp the word "PAID AND CANCELED" on all supporting documents.
Indicate the payment voucher number and the date on all supporting
documents.
Certified payment vouchers carrying the cheque number should be submitted
together with the cheque to the authorised signatories for signature.
Cheques must not be signed prior to the approval of the payment voucher.
At payment, the payment vouchers shall be posted daily and individually to
the bank book.
The counterfoil of cancelled cheques should carry the cheque number.
A dummy receipt shall be raised to cancel the cheque.

CHEQUE SIGNING

Cheque signing shall be according to Delegation of Financial Authorities.

UNPRESENTED CHEQUES

Where the payee has not presented a BCB cheque for payment within 6
months from the date of issue, the following action should be taken.
Notify the bank in writing to stop payment of the particular cheque.
Issue a Dummy Receipt in order to clear the unpresented cheque in the Bank
book.
Approval of the Executive Committee shall be obtained writing back
expenses.

BATCHING:

Payment vouchers in respect of each bank are to be batched month-wise.

116.05 - Cash Payment System:

Maximum up to Taka 10,000 can be paid from petty cash. All payments above
Taka 10,000 should preferably be made through cross cheque.
After the expenditure is incurred, the supporting are raised in the file;
The file is sent to the proper authority for payment approval;

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Payment is made on producing the proper authorization and supporting


documents to the cashier who makes the payment keeping recipients
signature on the voucher;
The payment is entered in the cash scroll.
No other person has access to cash other than the authorised persons
conducting a surprise check of the float in the custodians presence.

116.06 - Matters to be considered at the time of payment:

In respect of point 116.01 and 116.05 the following matters should be


considered before cash and cheque payment:

The expenditure must be compared with approved Budget limit.


All payments shall be prior approved by the Chairman or any other person
designated by the committee / department, General Secretary, Chairman
Finance Committee, CEO and CFO.
All BCB committees expenditure budget must be approved by Executive
Committee as per provision-19(5) of constitution.
When approving a payment, all supporting vouchers or documents must be
canceled (by affixing a rubber stamp worded "PAID AND CANCELED") to
minimize the risk of a double payment subsequently being made by mistake
or manipulation.
Payment should be made with following the Delegation of Financial
Authorities.
Necessary VAT as per VAT Act.-1991 and Tax deducted at source (TDS) as per
Income Tax Ordinance-1984 will be deducted at source.
The management should check any other laws and rules of Bangladesh
(money laundering act, import policy act, contract act, insurance act etc.)
relating to expenditure before payment.

EXPENDITURE

117.00 - EXPENDITURE MANAGEMENT POLICY:

I. Scope

This policy sets the mandatory "minimum" standards for travel and expenditure
management in the BCB, including all BCB staff and consultants and

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contractors.

Proper approvals must be taken at every step of the expenditure process


regardless of whether an expenditure item has been approved in the BCB
budgeting process.

This policy should be applied in conjunction with the Procurement Policy.

II. General Policy

Expenditures must be incurred, approved, and reimbursed in a manner


consistent with the policy outlined in this document. Any circumstances not
addressed in this document should be dealt with in the spirit expressed
throughout the policy, i.e incurred and reimbursed expenditures would be:

Reasonable (defined as neither lavish nor extravagant), and necessary to


accomplish the intended purpose;

Properly documented and reported in a timely manner;

Approved by the proper authority and

Wholly, exclusively and necessarily for the purpose of BCB.

Employees at every level are responsible for expenditure management.


Supervisors are responsible for ensuring that expenditure is correct and adhere
to the policies and common business sense. Any misrepresentation of
expenditure will result in disciplinary action up to and including termination of
employment.

III. CATEGORIES OF EXPENDITURE:

Expenditure can be divided into following two Categories:

a. General expenditure

Revenue expenditure: The expenditure that are immediately charged


against revenue.

Capital expenditure: The expenditure that increase BCB investment in


productive facilities.

b. Development Fund Expenditure


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Administrative expenditure
Development Program Activities expenditure

IV. CLASSIFICATION OF EXPENDITURE

Expenditure will be categorized and classified as per the Chart of Accounts

V. REPRESENTATIVE LIST OF EXPENDITURE

Some examples of Revenue and Capital Expenditure are given below:

A. Revenue Expenditure:

a) Personnel

This comprises all expenditure relating to staff salary packages including salary,
allowances, motor vehicle expenditure, professional development and medical
insurance.

b) Office Expenditures

This comprises all items relating to office expenditure (location and day to day
running of the office) including rent, power and utilities, office maintenance and
cleaning, office insurance, repairs, telephone bill, computer accessories,
stationery and hospitality.

c) Tournaments

All expenditure relating to tournaments including air travel, accommodation and


ground costs (does not include personal travel costs, they should be placed in
travel and accommodation). Records should be kept in such a way so that the
final total cost for each tournament can be calculated. In case funds are
received from countries for participation or any other tournament receipts (e.g.
gate receipts or sponsorship monies) then these amounts should be CREDITED
to the tournament expenditure line as these receipts lower the cost of the
tournament. However, for documentation and future reference purposes,
records of both gross receipts and gross expenditure should be retained.

e. Meeting Expenditures

All costs relating to the staging of or attendance at meetings whether they are
regional meetings or national association meetings.

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f. Travel & Accommodation

All travel, accommodation and daily expenditures incurred when traveling for
Officials should include under this budget heading rather showing under other
headings.

g. Academy Visits

All costs associated with the placing the players in Academies should be
accounted under this heading.

h. Resources and Materials

Materials (written, video, audio, clothing etc) produced to assist the


development activities but not necessarily relating to any of the above
categories should be accounted under this heading. Items in this category
should be specific items that are planned in advance.

i. Promotional Items

Merchandising and promotional items (memorabilia, gifts etc) that are produced
to assist with development, but not necessarily relating to any of the above
categories. Items in this category should be specific items that are plaimed in
advance.

j. Special Projects

Special Projects that are specifically planned and budgeted for in advance of the
financial year. These may be projects that do not exactly fit any of the above
categories or projects you wish to include here as they involve a large one time
expenditure. If any of these Special Projects is cancelled approval must be
sought to realign the budgeted funds to a new Special Project.

There may be other expenditure categories according to the annual


development program.

B. Capital Expenditure:

All expenditure that provides economic benefits for more than one year will be
treated as capital expenditure.

a. Cricket Equipment :

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All costs associated with purchase of cricket equipment including gear, balls,
score boards etc. All associated freight costs should also be included under this
head.

b. Pitches and Grounds:

All costs involved in the purchase of artificial pitches, including freight. Also all
costs involved in upgrading pitches, outfields and pavilions.

118.00 - EXPENDITURE PROCESS:

The Expenditure process has been described in the Payment Procedure (Point
116).

119.00 PROCUREMENT PROCEDURE:

The Procurement procedure is to be done as per organizations Procurement


Policy.

120.00 - REQUIREMENTS FOR REIMBURSEMENT OF EXPENDITURE:

A. Itemized Expenditures

Employees requesting reimbursement must fully itemize their expenditures on


the standard expenditure report. Itemization includes:

The business purpose of the expenditure


The amount and description of each expenditure
Place and date of the expenditure
The names and business relationships of the persons involved where
applicable (eg. meals and conferences)

Employees may group expenditures provided they are from the same
expenditure category and supplier (eg., car rental, phone bills, room charges for
multiple nights at the same hotel).

B. DOCUMENTATION

Original receipts must be submitted by all employees for all individual


expenditures.

Air travel: Employees must book air travel through proper travel booking

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procedures.

Hotels: The hotel bill must always be attached for hotel stays regardless
of the expenditure.

C. SENIOR-RANKING EMPLOYEF/EXECUTIVES

The most senior ranking employee must handle shared expenditures. Attendees
are peers, then any of them may pay and request reimbursement.

D. TIMELY SUBMISSION

Expenditures must be reported in a timely manner. It is recommended that


travelers returning from an international business trip wait for a charge to
appear on their Credit Card statement before submitting the item on an
expenditure report. This enables a traveler to obtain a true picture of
expenditures, including the conversion rate used.

Late fees and interest charges: Late fees and interest charges on personal credit
cards will not be reimbursed.

Expenditure Reports: Executives / Employees must submit expenditure reports


within 6 days of the expenditure being incurred. Any expenditure reports
submitted after this date will be subject to the approval of the Chief Executive
Officer/President, BCB.

121.00 - EXPENDITURE REPORT APPROVAL AND SUBMISSION:

I. Expenditure reports

Expenditure reports or reimbursement requests may be submitted manually


Employees / Executives of BCB must have their expenditure reports reviewed
and approved by the CFO. Both parties are responsible for the accuracy of
transactions appearing in the expenditure report. CFO is responsible for
ensuring that expenditures are correct and adhere to policy and common
business sense.

Employees / Executives of BCB must have their expenditure reports reviewed


and approved by the President/ Secretary or Treasurer. Both parties are
responsible for the propriety of transactions appearing on an expenditure
report. President, Secretary or Treasurer is responsible for ensuring that
expenditures are correct and adhere to policy and common business sense.
Both incurrer and approver must sign expenditure reports when they are
manually submitted.
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Changes should be avoided on expenditure reports.

II. Approval Limits (Signing Authority)

Signing authority for Expenditures is based on the Delegated Authority


Limits that are currently in force will apply.

III. Approved Suppliers where Available

Employees must use Approved Suppliers, where they are available, when
obtaining products and services. A list of approved suppliers should be
maintained at the BCB.

IV. Supplier Contracts

Departments may enter into separate contracts for products or services with a
supplier within the following guidelines.

Supplier contracts require the approval of an employee with the appropriate


level of delegated authority. Please refer to the delegated authority list that is
currently in force.

The contract letter should describe the nature of the service, terms and
conditions, time limits and compensation (if default any party).

For contracts greater than one year in duration, the total value of the
contracts should be calculated over the lifetime of the contract, which should
not be greater than 3 years. No evergreen contracts without time limits are
allowed.

V. Deviations from Policy

Unless otherwise stated in this manual, exceptions to any provision of this policy
require written approval from the Chief Executive Officer (CEO) as well as the
CFO of BCB.

VI. Guidelines on some selected item of expenditure:

A. TRAVEL RESERVATIONS

All Travel reservations and arrangements must be made through the approved
Travel Agency and the relevant staff members.

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B. AIR TRAVEL

All air travel will require documented approval from the immediate supervisor
(who must have the necessary delegated authority) prior to the trip. This
approval can be through e-mail. The staffs who handle the air travel requests,
should check the approval before confirming the bookings.

The approved travel agencies will be instructed to process requests only


through individuals designated for this purpose with documented confirmations
to follow.

Travelers should book the lowest fare, which may include restricted fares and/
or non-refundable fares. Non-refundable tickets are normally reusable and can
be applied towards future travel with the same carrier within a certain period
from date of issue.

Class of Service

Business class air travel is permitted to BCB Senior Executives including


Managers, all other employees should travel on economy class. However
Development Officers' business class travel is permitted when travel time (one -
way) exceeds four hours. Travel time is defined as time elapsed between
scheduled flight departure time and scheduled flight arrival time including
ground time on connecting flights. All air travel of less than four hours duration
(one way) will be by economy class.

Guidelines for Low-Full Opportunities

When business objectives and time allow, employees should be flexible in their
travel plans and book flights as early as possible to make use of advance
purchase airfares and other promotions

C. HOTEL ACCOMMODATION

BCB travel staff must be used for making hotel reservations where available.

If BCB travel staff is not available, all business-related hotel reservations


must be made through an BCB Group Approved Travel Agency.

When traveling, all staff should also check whether the host board can
organize accommodation as they can get local discounts and have knowledge
of appropriate places to stay etc.
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Executives / Employees must use approved or recommended Hotels.

Non-Approved hotels may be used only when Approved Hotels are not
available in the particular city

Arrival should normally be the day before the meeting or the day of the
meeting where appropriate. BCB responsibility will normally cease on the
day the meeting concludes unless there is no suitable return flight in which
case the responsibility will cease the day after that.

Accommodation will be on bed and breakfast basis.

Cancellations

Executives / Employees should cancel the bookings as soon as they found


changes in their travel. Executives / Employees must obtain a cancellation
number. Failure to cancel can result in a hotel no-show charge. No-show charges
are reimbursable only if circumstances prevent an employee from checking in to
the hotel. Employees must explain such circumstances on their expenditure
report

D. RENTAL CARS

Travel Staff must be used for making car rental reservations where available.

All business related car rental reservations must be made through an


Approved Travel Agency.

Employees must rent cars from Approved Car Rental Companies only. Non-
Approved car rent companies may be used only where no cars are available
from Approved Car Rental Companies or if there are no Approved Car Rental
Companies at the location. The Executives /Staff hiring the car must ensure
that full insurance coverage is in effect.

Compact and intermediate cars are the approved car classes. A full size car
may be rented when four or more people will use the car or when business
needs require it.

Employees must (wherever possible) charge car rentals to their Corporate


Credit Cads.

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Cars may not be rented for a period of more than 2 weeks without the prior
approval of the Treasurer / CFO subject to Delegated Authority Limits.

E. PERSONAL VEHICLES

An employee who uses his/her vehicle for occasional business travel will be
reimbursed on a per-mile basis or one off payment with agreement of the
Finance Department.

Fines for traffic violations are not reimbursable.

Expenditures associated with theft or damage of an employee's vehicle while


on company business is not reimbursable.

Insurance deductible payments are not reimbursable.

F. TRAIN TRAVEL

All train travel will be in coach or second class. First-class travel, including Club
Class and Custom Class, is not permitted unless used by the Senior Executive
staff or overnight travel instead of a more expensive airline ticket.

G. LAUNDRY/DRY CLEANING EXPENDITURE

No Laundry expenses are paid. This should be covered from the Service Rules.

H. PASSPORTS AND VISAS

Costs associated with passports that are maintained for business travel and
requisite visas will be reimbursed.

I. MEALS DURING BUSINESS TRAVEL

Not reimbursable. This type of expenses must be covered from SA.

J. MEALS WITH VISITING EXECUTIVES / STAFF

Meals with visiting executives / staffs from out of town will be reimbursed
provided there is an appropriate reason and these are approved by the
respective Department Head.

K. LATE NIGHT AND WEEKEND MEALS

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Employees are entitled to reasonable meal reimbursement when they work


three hours beyond the normal workday or on a non-scheduled workday in the
office. Receipts are required for all late night and weekend meals, regardless of
the expenditure amount.

L. GROUP EVENTS, MEETINGS AND SEMINARS

INTERNAL

Internal conferences, meetings and training events for three or more people,
whether on BCB premises or offsite, where travel and/ or lodging expenditures
will be incurred by most participants must be pre-approved by the Delegation of
Authority attached to this Manual. As part of the pre-approval process, the
sponsoring department must provide an estimate for the total cost, including
airfare, hotel and group meal expenditure for all attendees.

EXTERNAL

Attendance at external conferences/meetings/training/ events where air travel is


required must be pre- approved on a case-by-case basis by the Delegation of
Authority attached to this Manuel.

M. MOBILE PHONES

Purchase, installation, monthly fee or loss of personal Mobile phones will not be
reimbursed.

All business mobile phones must be ordered through normal office procedures
and require the approval of the Delegation of Authority attached to this Manuel.
Employees must indicate on the expenditure report the business reason(s) for
using tl1e private mobile phone for business purposes.

Employees will not be reimbursed for the use of Mobile phone services such as
weather, sports, or stocks.

The use of Mobile phones from rent a cars, private cars, trains and airplanes is
prohibited except when the call is urgent and crucial to the business needs.

Any costs for mobile phones in an employee's personal car are not reimbursable.

Executives / employees should not discuss restricted or confidential information


when using a Mobile phone. A Mobile phone is not a secure way to

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communicate, and conversations transmitted through these phones are capable


of being infiltrated.

N. NON-REIMBURSABLE EXPENDITURE

Although various types of expenditure incurred while doing business are


covered, many are not. In addition to those mentioned elsewhere in this
document, the following items are examples of non-reimbursable expenditures.
This list serves as a guide and is not meant to be all-inclusive.

Annual fees for personal charge cards


Baby sitters
Barber shop/beauty salon/shoe shines
Class-of-service upgrades
Clothing purchases
Drugstore items
Expenditures related to home entertainment
Health Club and Sports Facilities
Holiday cards, decorations or gifts
House sitters
Kennel costs
Lost airline ticket application fee
Movies and videos on trips
Social newspapers and magazines
Personal Digital Assistant (PDA) (eg. Palm Pilots)
Premiums for additional travel insurance
Pro-shop and gift shop items
Spa services (facials, massages, etc.)

O. CONSULTING CONTRACTS

All consulting projects irrespective of the amount must be pre-approved by


Delegation of Authority attached to this Manuel/President and/ or Secretary of
the Association.

To request prior approval for a new consultant, submit the terms of the
assignment/ contract, a description of the work to be performed, the name of
the responsible manager and the cost. All proposals must be submitted one
month before the work begins or the contract is signed.

No consulting work can be initiated without an approved contract.

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Managers must ensure that the use of consultants is warranted, that there
are measurable milestones in the contract and that the relationship is
monitored closely.

Independent contractors and consultants should be aware of our code of


ethics policy and policies relating to confidentiality

P. EXPRESS COURIER AND MESSENGER SERVICES

Employees should take every opportunity to send documents bye-mail, fax or the
intranet when security is not an issue or is provided by passwords. If hardcopy
documents must be sent, executives / employees should use approved mail or
courier services. Same-day messenger service and next-day or second day
express courier service should be restricted to documents that are of a
confidential nature and/or contain time-sensitive material. In general, when
determining which delivery method to use, employees should consider the
length of the document, its confidential nature and time sensitivity.

Mail services are for business purposes only. Personal shipments should be
avoided.

Express Courier Service

When express mail service is required, executives / employees must use the
Approved Supplier. To reduce expenditures, express mail should be shipped by
second-day air where possible. Express courier service should not be used for
employee expenditure reports or reimbursement requests or general
correspondence.

Local Messenger Service

Messenger service should only be used when business information must be


received the same day and cannot be sent electronically.

Once you have determined that you need to use a Messenger Service, you must
use a local Approved Supplier.

R. OFFICE SUPPLIES

Purchases must be approved by an employee with the appropriate level of


delegated signing authority.
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Office supplies must be purchased from the approved supplier.

S. PCS, TECHNOLOGY, FAX MACHINES, COPIERS AND SOFTWARE

All purchases (including leases) of office equipment, computer equipment and


software packages must be approved by the Delegation of Authority attached
to this Manuel. BCB approved the authority limits.
Orders for office equipment and technology items, including PCs, laptops,
peripherals and software, must be placed through the appropriate
department. Such purchases should not be put on an expenditure report.

T. INTERNAL COMMUNICATION

Expenditure associated with internal employee communication, including


printed material (staff newsletters etc) requires the approval of the Delegation
of Authority attached to this Manuel. BCB approved the authority limits.

U. RECRUITING
The use of employment agencies, search fees and recruitment advertising
requires the approval of the Delegation of Authority attached to this Manuel.
BCB approved the authority limits.

Retainer contracts of any amount must be pre-approved by the Delegation of


Authority attached to this Manuel. BCB approved the authority limits.

V. STATIONERY AND BUSINESS CARDS

The purchase of personalized stationery is not authorized.

Executives / Employees requiring business cards should obtain the approval of


the Delegation of Authority attached to this Manuel. Orders should be placed
through relevant staff of BCB and should be purchased from an authorized
supplier. BCB approved the authority limits.

W. TEMPORARY AGENCY WORKERS

Executives / Employees must contact an approved agency, where available,


when requesting the use of an agency temporary worker. This should be pre-
approved by the Delegation of Authority attached to this Manuel. BCB approved
the authority limits.
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Executives / Employees must comply with any departmental policies and


guidelines regarding allowable length of assignment or business
confidentiality requirements.

Temporary agency workers should not be treated as employees. For instance,


supervisors and managers should not give raises, bonuses or other forms of
compensation increases, but instead should refer to his or her agency for any
such discussions.

All temporary staff should be aware of our code of ethics policy and BCB
policies relating to confidentiality. These staff will be required to sign a
declaration of secrecy.

All temporary staff in assignments for sixty (60) or more consecutive calendar
days, as well as all temps in sensitive positions, may be subject to additional
special checks or references.

X. SPECIALIZED SPENDING AUTHORITIES


This section provides guideline on some specialized expenditures and should be
read in conjunction with the "Delegation of Authority attached to this Manuel"

Executives / Employees may not commit expenditures for the following goods or
services without expressly being delegated signing authority.

Advertising
All forms of advertising require the Delegation of Authority attached to this
Manuel/President of the Member Association.

Audit, Tax and Consultancy Fees


All audit, tax and consultancy contracts and fees must be approved by the
Delegation of Authority attached to this Manuel/Treasurer of BCB.

Charitable and Political Contributions and Fundraisers

Contributions and participation in charitable and political fundraisers or


charitable and political donations require the approval of the delegated
authorities.

Corporate Insurance

Requires the approval of the Delegation of Authority attached to this Manuel /


Treasurer of BCB.

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Employee Relocation
All employee relocation expenditures require prior approval from the delegated
authorities.

Facilities-Related Purchases
Costs related to premises, moves, office relocations and furniture must be
approved by the Delegation of Authority attached to this Manuel/President of
BCB.

Local and Corporation Taxes (Except Salary Related)

Require the approval of the Delegation of Authority attached to this Manuel /


Treasurer of BCB.

Legal Expenditure

No Executive / Employee may engage outside legal counsel without the prior
approval of the Delegation of Authority attached to this Manuel/President of
BCB. The in-house Lawyer is responsible for the retention and supervision of
outside counsels.

Outsource Arrangements

Outsource arrangements that are not technology-related require prior approval


of the Delegation of Authority attached to this Manuel/President of BCB.

Salary, Severance and Other Compensation Matters

All salary and other staff compensation matters require the approval prior
approval from the delegated authorities.

Hiring of Staff and Companies

No staff may be employed on a contract or permanent basis without the written


consent of the Delegation of Authority attached to this Manuel/President of BCB.

No individual or Company may be employed to carry out work without the


written consent form the Delegation of Authority attached to this Manuel /
President of BCB.

Consultants and Contractors

Consultants and Contractors (including Umpires, Referees, Security Managers


etc) are also expected to adhere to policies of the BCB in substance and in spirit.

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CHAPTER 9(A)
INTERNAL CONTROL

122.00 Introduction and Concept:

The internal control system is inevitable for the BCB to control its financial
matters as well as to maintain the continuity and accuracy in the arena of its
financial affairs. With a view to maintain an effective and efficient work flow in
all sphere of transaction procedures, it is essential to segregate a specific job in
different segments and make a meaningful division of labour to accomplish that
task. Some important elements of the internal control device are narrated
below:

The BCB plan with particular reference to the allocation of staff


function;
Authorization, recording and custody procedures including internal
check;
Managerial supervision and reviews including audit.

An internal control system is defined as the whole network of systems


established to provide reasonable assurance that Bangladesh Cricket Board
objectives will be achieved, with particular reference to:

The effectiveness of operations;


The economical and efficient use of resources;
Compliance with applicable policies, procedures, laws and
regulations;
The safeguarding of assets and interests from losses of all kinds;
The integrity and reliability of information, accounts and date;

These embraces the concepts of effectiveness, value for money, compliance,


irregularity, inconsistency and financial controls. The manual highlights the role
of management in ensuring adequate systems of internal control are in place at
strategic and operational levels.

123.00 Internal Control Categories:

There are broadly eight categories of internal controls. The acronym "SOAP
MAPS" can be used to categorize the controls as follows:

i - Segregation of duties - Roles and responsibilities should be clearly defined.

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ii - Board structures - Appropriate Board structures should exist.

iii - Authorization & Approval - Appropriate authorization & approval


procedures should be introduced.

iv - Physical Safeguard - Appropriate physical safeguard should be


established.

v - Management review & Monitoring - Financial and other performance


should be monitored regularly.

vi - Accounting & Arithmetical - Appropriate accounting and arithmetical


procedures should be operated.

vii - Personnel arrangements - Appropriate personnel arrangement should be


established.

vii - Supervision - Appropriate supervision procedures should be established.

124.00 - Classification of Control Procedures:

i. - Management Controls: These are detective in nature and encompass the


high-level supervision and review. For example - Management review of
exception reports, performance against budgets etc.

ii - Board Controls: These are both detective and preventive in nature and
include well-defined responsibilities and the segregation of functions conveying
as transactions initiating, processing and recording.

iii - Authorization Controls: These are preventive in nature. Good


authorization controls will be specific about who can approve what, the extent of
checking required before approval and how the check should be evidenced.
iv - Operational Controls: These are either detective or preventive in nature.
It includes sequence checking to provide assurance on the completeness of
numbered documents, comparison of one set of documents to another (e.g.
purchase order to invoice).

v - Access Controls: These are detective in nature and includes control over
access to assets and accounting records through simple physical measures such
as locks and safes and procedural controls such as controls over petty cash
issue.

125.00 - Internal Check System:

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The absolute and independent control of one person in the financial transaction
may create the opportunity of fund misappropriation. As such, to safeguard the
interest of the Board, adequate control over financial transaction, internal check
system is a must. The function of accounts department should be designed in
such a way that the job done by one person is automatically checked by another
and thus minimizing the possibility of fraud or irregularities. The job distribution
of the personnel of finance & accounts department of Bangladesh Cricket Board
Management Office shall be arranged in such a way that a person handling cash
and posting in the Cash Scroll Book shall not be given the responsibility of
preparing vouchers, writing of cheques and posting in the Cash Journal Register,
Bank Journal Register & Control Ledger.

It is therefore, recommended that:

Cashier & Cash Officer shall be engaged for receipts and payments of cash,
maintenance of physical cash and writing of Cash Scroll Book.

Writing of various vouchers, like transfer vouchers, cash payment voucher,


cheque payment voucher, money receipts, writing of cheque should be done
by other person in finance and accounts department.

The person who has no connection of maintaining cash and voucher


preparation shall do posting in computer and other registers.

The Manager (F&A) shall be responsible for the preparation of monthly Trial
balance, income statements and balance sheet, cash flow statements, notes
to accounts.

The Chief Financial Officer (CFO) shall be responsible for the preparation of
reports to the Chief Executive Officer (CEO) and placed in Board Meeting.

126.00 - Payment Management:

Before making payment in connection to all bills / vouchers for expenses of the
Board, the bills shall be duly checked by finance & accounts department as per
rules and regulations of Bangladesh Cricket Board in this context and shall be
finally approved by the respective committee chairman and Finance Committee
Chairman as per the delegation of financial authority of the BCB. The Cheque
will be signed by the bank signatories as prescribed by the BCB's governing
body.

No payment shall be made without the prior approval of the above authority as
narrated. The bills and the invoice for payment shall be canceled by affixing the
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stamp "PAID AND CANCELED" and shall be dated. The payment voucher
should always have the supporting documents in original as its attachments. All
sums of money expended by the Board shall be recorded in books of accounts
and there should be systematic procedures of payment that can ensure:

a) Payment is made within the budget amount;


b) Payment is made for Board;
c) Payment is made properly to the right person;
d) Vouchers are prepared correctly to record transaction in Cash
Journal Register;
e) Expenditures have genuine supporting documents;
f) Documents are duly valid, authenticated & appropriate for the
purposes;
g) Payment shall be authorized and approved by competent authority.

Before making payment either in cash or cheque, person responsible to make


the payment is to be ensured that payment vouchers have been prepared,
checked and approved. Accounts shall prepare payment vouchers and shall be
supported by documents like:

Expenditure Note Sheet,


Budget Copy,
Financial Minuets,
Cash Memo / Bill,
Challan,
Indent,
Quotations / News Paper Advertisement,
Purchase order,
Money receipts,
Comparative statement,
Purchase committee resolution,
Job completion certificate,
Telephone bill, electric bill, rent bill etc.,
And any other document that are required,
Approval of tour program along with tour plan,
Air / Bus / Train / Launch tickets where required,
Entitlement of class, Per-diem & DA according to grade as
specified in the service rules.
Accounting department shall keep the payment vouchers in chronological order.
Each financial year shall maintain a serial number beginning from 01.
Accounting office shall file the voucher along with all supporting documents.

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A - Cash Payment System:

The cash payment and cash handling system will be maintained as per financial
guideline (covered in Chapter-8) of the BCB. The recording of cash transaction
will be done as per financial guideline.

B - Cheque Payment Procedure:

The Cheque payment procedure will be maintained as per financial guideline


(covered in Chapter-8) of the BCB. The signatories of the cheque should be
followed each bank transaction. The recording of bank transaction will be as per
financial guideline.

127.00 - Payment for Services:

Payment for services shall require the following B.C.B:

Requisition / Indent;
Resolution of the Governing Body if needed;
Approval of Chief Executive Officer;
Agreement / Deed of contract;
Assignment letter which should include TOR;
Assignment completion certificate

128.00 - Payment of Salaries:

Payment of salaries of Bangladesh Cricket Board staff members shall be made


through bank transfer advice or cheque. Each employee shall open a bank
account in his own name with the same bank where Bangladesh Cricket Board
maintains its account and account number shall be intimated to the Finance &
Accounts Department.

129.00 - Management of Receipts:

Maintaining of documentation and accounting treatment will be recorded of


each receipts as per financial guideline (covered in Chapter-8) of the BCB.

A - Cash Receipts System:

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The cash receipt system will be maintained as per financial guideline of the BCB
(covered in Chapter-8). The recording of cash transaction will be done as per
financial guideline.

B - Cheque Receipts System:

The cheque receipt system will be maintained as per financial guideline


(covered in Chapter-8) of the BCB. The cheque will be kept in the safe custody
until deposit in the bank. The dishonored instruments will then be sent to the
respective sender with a forwarding letter stating the reasons of dishonor and
asking them to send the instrument back after correction or to send a fresh
instrument within three days. Responsible accounts personnel will check the
position daily and will follow up the cases.

130.00 Staff Advance and its Liquidation:

Advance against any operational cost shall be initiated on Money Requisition


and the delegated authority will approve such advance.

Approved advance requisition form shall be sent to the accounts which will be
checked the particulars therein and then payment voucher shall be prepared by
the accounts & shall disburse the amount of advance after obtaining the
signature of the recipient.

Any advance to staff members may be made on specific requirement with the
written approval of the competent authority as per delegation of authority.

Any payment to staff as advance should be adjusted and replenished at regular


interval on submission of bills / vouchers to the account department and must be
adjusted within fifteen (15) of completion of the requirement.

131.00 - Physical Inventory Counting and Checking:

It is one of the prime responsibilities of the BCB to protect / safeguard resources


/ property. Bangladesh Cricket Board has been implementing various programs
throughout the country by its own offices and resources.

Bangladesh Cricket Board shall follow the noted steps in verifying / checking the
validity of all the resources at its disposal.

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A committee comprising at least two (2) members shall be formed. The said
committee shall do a feasibility study / checking of all the resources once in
each year.

Committee shall examine all of the resources in light of the lists prepared by
Administration Department.

The committee shall submit the feasibility report as per stipulated date and
time.

Required adjustment of any inconsistency shall be made having approval


from the management as per delegated authority.

132.00 - Preservation of Accounting Records:

All of the documents / records related to financial transaction shall be


preserved for a period of twelve years.

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CHAPTER 9(B)
AUDIT & ANTI-CORRUPTION STRATEGY

133.00 - EXTERNAL AUDIT:

The auditor shall be appointed after recommended by the board. Any


subsequent changes have to be approved by the Members of the BCB.

The Auditors shall have access to all convenient times, during the agreed period
for annual audit, to all books, records, vouchers and other documentation which
are, in the opinion of the auditors, necessary in performance of the audit.

Terms of Reference (ToR):

Terms of Reference (ToR) for the Auditor will be as follows:

Audit will be conducted as per International Standards on Auditing (ISA) /


Bangladesh Standard on Auditing (BSA). In addition the auditors will:

a. Check to ensure that the provisions of the BCB Finance Manual have been
complied with.

b. Check that proper, separate and up to date books and accounting records
have been maintained.

c. Conduct physical verification of the assets purchased form BCB funds.

d. Check the accuracy of the quarterly and other returns that are submitted t
o BCB.

e. Check the documents and invoice etc. underlying the expenses and ensure
that these have been properly processed and approved.

f. Where lump sum expenses have been advanced (e.g.for tournaments) then
check that these have been properly accounted for in a timely manner and
with supporting documentation

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g. Check that any Sustenance Allowances (if any) paid to staff during their
travel are properly authorized and accounted for

h. Review that the expenses have been properly classified within the Chart of
Accounts

i. Review that the expenses incurred are correctly monitored against the
budget.

j. Review office administration expenses, salaries, travel costs and other


administration costs that are charged and check to ensure that adequate
documentation and proper approvals are in place to support these

k. Review tournament accounts and ensure that adequate documentation is


maintained to support tournament expenses. Ensure that each tournament
has a properly prepared Income and Expense account

l. Review the system of internal controls (control over bank accounts,


authorization of expenses, control over purchases, levels of financial
authority etc.

m. Review the internal approval process for expenses incurred and check for
evidence of authorization

n. Confirm bank balances that are maintained.

o. Review tax computation of the Board and compliance to tax authorities


laws and regulations.

p. Ensure funds/grants received form BCB have been properly accounted for
and recorded in the books of account.

q. Review the Coaches Register, Ground Equipment Register, Cricket


Equipment Register, Fitness Equipment Register and Ground Development
Register to ensure they are maintained in a timely manner.

r. Follow up the prior year audit findings.

The Auditors shall have access to all books, records, vouchers and other
documentation which are, in the opinion of the auditors, necessary in
performance of the audit.

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Management Letter:

The Auditor may issue a Management Letter if he finds any item which he thinks
should brings in to the notice of the management.

134.00 - INTERNAL AUDIT:

BCB will appoint a firm of Chartered Accountants to act as the Internal Auditor
of the BCB. Internal audit of BCB activities should be carried out monthly to
ensure compliance of policies and procedures.

The Internal Audit Report shall be submitted the to the CEO with detailed
findings and recommendations, if any.

The Internal Auditors shall have functional independence and unhindered access
to records and documents for undertaking all internal control activities and
duties.

Internal auditor shall review and appraise the soundness and effectiveness of
accounting and administrative controls and ascertain the extent of compliance
with established policies, plans and procedures.

Terms of Reference (TOR) for the Internal Auditors will be as follows:

a. Check to ensure that the provisions of the BCB Financial Manual have
been complied with.

b. To report on the accounts and include :

(i) keeping under review the Organizations system of book keeping,


accounting and internal control.

(ii) making such tests and inquiries as consider necessary for the
purpose of audit, those tests will inter alia apply to :

(1)day to day operations of the Organization,


(2)the verification of assets and liabilities.

(iii) keeping under review the Organizations adherence to all local legal
requirements.
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(iv) keeping under review the Organizations adherence to all internal


rules and regulations as laid out in the constitution and other decisions of
the management.

But their nature and extent will vary according to assessment of the
Organizations system of internal control and may cover all aspects of the
Organization.

Management report:
At the end of each month the auditor shall prepare a monthly report for
submission to the Management which will cover:

(i) regularity of day to day transactions.


(ii) compliance with the local laws, rules and regulations.
(iii) adherence to the constitution including internal rules regarding budget
limit, transaction procedures, authority etc.
(iv) verification of month end stock, cash and bank balance etc.
(v) examination of bank reconciliation statement.
(vi) any other matter as may be required by the Management.

Within end of the following month a draft report will be sent to the Management
on material weaknesses, if any, which may come to notice and which the auditor
think should be brought to their attention.

The Auditor should be done the following activities at the time of audit:

a. Follow up the prior year audit findings.


b. Follow up the prior audit findings.

Quarterly Report:

At the end of each quarter the management will provide a set of quarterly
financial statements. The auditor will carry out audit on this quarterly financial
statements and will submit this financial statements along with the quarter end
monthly report to the management within 6 (six) weeks of end of the quarter.

135.00 - ANTI-CORRUPTION STRATEGY:


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I. Definition of Corruption:

Corruption is the abuse of public or private office for personal gain.

II. Confidentiality:

In all cases, it is essential that allegations, evidence and investigations of


fraudulent or corrupt practices be treated with the utmost confidentiality and
disruption. Circulation of all materials involved in cases should be limited to a
strictly need to know basis, and proper safeguards should be there to protect
both the accused and the firm or individual (entity) whose allegation or evidence
led to the investigation.

III. Procedures for Addressing Allegations of Fraud and Corruption

The Chief Executive Officer (CEO) of BCB is the point of contact to report
allegations of fraud and corruption among BCB activities or its staff.

BCB staff/stakeholders /others are required to report to CEO any allegations or


evidence of corruption that they receive or encounter. In the context of this
policy, evidence is information, facts or circumstances which would lead a
neutral, unbiased observer to the reasonable belief that corrupt or fraudulent
practice (s) may have occurred in any aspect of BCB activities. While CEO may
require providing additional background information to facilitate the
investigation, staff involvement will typically end with their submission of the
matter to CEO.

Once the allegation and /or evidence have been turned over to CEO, CEO will
present it before the Board. Upon screening, Board will determine whether to
proceed with an investigation or not. At Boards discretion, it may conduct
preliminary inquiries of concerns that an executive / staff may have committed
any conduct perceived to be fraudulent or corrupt practices. If Board finds that
there is no basis to consider disciplinary action, Board will note the reasons for
that decision, and the case will be entered into the Board fraud and corruption
database.
Board will outline the proposed nature, scope, duration, investigating officer or
entity, and method for conducting the investigation.

Board may engage outside auditors, investigators or other experts for the
investigation.

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The investigating entity will conclude the investigation and submit its findings
and any relevant evidence to Board. On the basis of investigative findings, and
taking into consideration the submissions of the accused party, the Board will
assess whether the alleged violation took place, the case should be closed, or if
the investigating entity should conduct further investigation. If the Board
determines that the accused party has engaged in corrupt or fraudulent
practices in any BCB activity, it shall decide upon the appropriate measures or
remedial action to be taken.

Remedial action (sanctions) imposed by the Board may be appealed to the Board
if submitted by a concerned entity within 90 days from the date on which the
decision of the Board was sent to the entity. Any such appeal must be in writing,
and clearly and succinctly state the reason(s) for the requested review of the
decision of the Board. Board may constitute a Review Sub-committee (RS) for
the review. The Review Sub-Committee shall consider any new information to
the extent that:

Such information was not known, or could not reasonably have been known, to
the investigation entity at the time that explanations were sought by the Board,
and

Such information is relevant to the decision of the Board.

The Review Sub-Committee will render its decision. The decision of the Review
Sub-Committee on any such appeal shall be final and binding and shall not be
subject to further appeal.

While acknowledging the need for fairness and consistency in its operations,
and strongly affirming the need for its operations to adhere to the highest levels
of probity and integrity, BCB notes that different types of corruption will require
different responses. There is a need for careful judgment based on accurate
information and the specifics of the situation. If Board investigation determines
that fraud or corruption has occurred, then- depending upon the nature of the
violation Board could pursue a range of options.

Board could request the reassignment, demotion, dismissal or possible


prosecution of personnel associated with the fraud or corruption or blocking of
funds.

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CHAPTER - 10
PAYMENT OF SALARY & ALLOWANCE
136.00 - Introduction:

Policy instructions, payment and documentation in connection to the


compensation packages of staff members of Bangladesh Cricket Board shall be
conducted, controlled and constituted as per the existing "Service Rules" of the
Bangladesh Cricket Board that are in force and act.

Expenditure on account of salary and allowances forms a major portion of the


recurring or revenue expenditure of any large Board. This very fact, calls for the
need of proper recording system as well as controlling mechanism to account
for this expenditure. Various staff related activities VIZ, recruitment, salary,
increment, transfer, promotion, termination, penalty imposition, salary
deductions etc. are usually carried out by Personnel Department /
Administration Department.

137.00 Salary Payment:

In general, staffs are recruited by Bangladesh Cricket Board at certain salary


level / scales. All particulars of staff members are notified to the Management
Office finance & accounts department. Other staff related information such as
staff salary increment, salary withholding, loan recovery through installments
etc. are also provided by the personnel department. Payment of salary and the
preservation of all the data related to staff salaries are done by the finance and
accounts.

In case of Unit offices, salary related matters, however, would be controlled by


Management Office. Other wise incidents like presenting information about
some bogus staff and then drawing his or her salary might take place or at least,
possibilities of similar incident to happen cannot be totally written off.

138.00 Some Noteworthy Points with Regard to Payment:


The following matters need to be dealt with prior to salary payment:

Up to date information regarding appointment or transfer of any staff


member;
Proper maintenance of salary register;

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Correct recording of all necessary data with regard to salaries and


allowances to staff members;
Collection & preservation of particulars in respect of deduction made or to be
made from salaries on different accounts;
Attendance register being properly maintained;
Information of those employees who have resigned or were terminated or
whose transfer orders have been issued are to be recorded in the salary
register and that salary to be withheld accordingly;
Calculation of net salary after making all necessary additions or deductions
correctly and appropriately.

139.00 Attendance Register & Statement:


The attendance register serves as the supporting document in the
preparation of salary bills. Administration department shall provide the monthly
attendance statement to the Finance and Accounts Department.
This register will also help towards annual budget preparation of Bangladesh
Cricket Board. Apart from this, it creates effective pressure on the staff
members to arrive at the office within stipulated time limit.
From Boards point of view, the prime objective of this register, however, is to
help the staff to attend office in time. So, attendance registers have to be
maintained at all level offices of Bangladesh Cricket Board.

140.00 Leave Statement:


It is essential to record particulars of leave in order to prepare salary bills by
accounts department easily and correctly. If any staff member of Bangladesh
Cricket Board wants to go on leave, he / she should apply in a prescribed form
and get that leave application approved before actually leaving the workstation.

The officer dealing with the leave register will record all particulars about leave
of a staff, so that, up to date information of the persons current leave position is
readily available by Finance & Accounts Department.

141.00 Procedures of Salary Payment:


All staff members have been advised to open a bank account and given the bank
account number to accounts department at the time of joining in the Bangladesh
Cricket Board.

Bank advice has been prepared by the accounts department to transfer the
individual salary to the individual staff salary account in bank at the end of the
month whose salary became due after approval of Chief of F&A, General
Manager, Chief Executive Officer as per delegation of authority.
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142.00 Timing of Salary Payment:

All the staff members working at Management Office will be paid their salaries
on or after the last working day of a month.
Preparation of the salary bills should preferably be started from the fourth week
of the month so as to make sure that payment is made in time.

If the salary bills are not prepared in advance, last minute rush in trying to
complete the bills might result in occurrence of all sorts of mistakes in the
payment of salaries.

143.00 Deduction from Salary:


Some staff members may well be taken advances either to carry out official
duties. Out of these advance payments, some are adjusted against bills
submitted and the rest will have to be adjusted against salaries of the respective
staff.

Contribution to provident fund, advances and other deductible items shall be


deducted from salaries and allowances.

144.00 - Overtime Management:


Payment of overtime should be discouraged in all respects. But in special
circumstances the management may give overtime to employees who have
worked beyond office hours. In such case a prior approval for overtime must be
taken from the appropriate authority. The overtime of a staff will be guided by
following overtime policy of Bangladesh Cricket Board.

Overtime for which payment is to be made must be authorized in advance. On


the form indicate the reasons for the overtime work and the estimated number
of hours overtime as well as the period of days will be needed before it is
completed. The form is dated and signed by the chief of the department / section
and sent for approval to chief of personnel.

145.00 - Telephone:
Office telephone is only for official use. Personal call is entitled for meeting
emergency whose duration should be as short as possible. Personal trunk call /
overseas call shall be entitled only on payment and with prior approval. Budget
allocation for Management Office and unit office shall be monitored regularly.

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CHAPTER 11
ADVANCES, DEPOSITS AND PREPAYMENTS

146.00 Introduction:

To fulfill different projects / programs and normal activities of Bangladesh


Cricket Board it becomes essential to procure goods and services from different
persons or Boards at different points in time and in doing so, advance payments
need to be made from time to time. Depending on the particular situation, these
advance payments at times are made directly to some outside person or Boards
as well as Bangladesh Cricket Board's own staff members in some cases.

147.00 Types of Advances to be Allowed:


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Mainly categorized in two:

a. Advance to staff members these are commonly known as temporary


advances and long term loans to the Staff and Members for personal and BCB
official purpose:

Advance against traveling expenses;


Advance against purchase of goods;
Advance against program expenses;
Advance against house building loan;
Advance against Overseas Tournament;
Advance against Home Match and
Advance against Grounds.

b. Advance to third parties:

Advance against house rent;


Advance to materials suppliers / contractors;
Advance to service providers;

148.00 Staff Advances - Against Traveling:

Bangladesh Cricket Board staff members frequently travel to different areas of


the country and also outside the country for official purposes. The staff members
are entitled to take advances to bear the transportation and traveling expenses.
Allowances for traveling inside and outside the country will be entitled by staff
member as per the rules and regulations of the "Service Rules" of Bangladesh
Cricket Board and other relevant rules that are in force.

The employee should fill up the Advance Requisition Form (Appendix-E) at


the time of advance taken and should fill up the TA/DA Bill Form (Appendix-I)
along with necessary documents at the time of adjustment.

General conditions are as follows:

Following conditions govern the sanction of temporary cash advances against


traveling:

Advance should preferably given to permanent staff members;


To be paid only against approved tour;

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Must be adjusted within fifteen (15) days from the date of completion of the
work;
If a staff member to whom an advance has been made fails to submit bills /
accounts supported by vouchers for adjustment with in stipulated time, total
amount of advance will be deducted from his / her salary account till the
accounts of advance are finalized with out any intimation to concerned
person.

The accounting of the advances, their adjustment against submission of bills,


payment of extra amount and deduction of salary for non submission of bills
against advance will be made in due care and timely manner.

149.00 Staff Advances - Against Purchase:

To carry out the routine duties and activities related to different projects /
programs of Bangladesh Cricket Board Management Office and Unit office, all
sorts of goods and materials need to be procured. Out of these materials, some
are purchased through the staff members while others directly through outside
parties / suppliers.

General conditions are as follows: Following conditions govern the sanction of


cash advances against purchases of goods:

That the stores are immediately and urgently required. Requisition for goods
should be made throw the Requisition for goods Form (Appendix N);

That time at disposal does not permit purchase by open or selected tender;

That delay in procurement would involve loss;

The employee should fill up the Advance Requisition Form (Appendix-E)


at the time of advance taken.

That purchases should be completed and account rendered within three (3)
days of taking the advance and the balance, if any be refunded in cash
immediately after purchase;

In making the purchase basic principles of purchase policy shall be always


kept in consideration and view;

If a staff member to whom an advance has been made, fails to submit bills /
accounts supported by vouchers for adjustment with in the stipulated time,
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the total amount of advance will be deducted from his salary account till the
accounts of advances are finalized with out given any intimation to concerned
staff member.

Accounting of advances, their adjustment against submission of bills, payment of


extra amount and deduction for non-submission of bills against advance will be
made in due care and timely manner.

150.00 Staff Advances - Against Program Expenses:

To carry out the program activities related to different Unit and programs of
Bangladesh Cricket Board, some expenses are needed to be paid out to the staff
members of Bangladesh Cricket Board in the form of liquid cash on the same
date as the expenses as incurred for smooth completion of the activities.

General conditions are as follows: Following conditions govern the sanction of


temporary cash advances against program expenses:

Approval is needed before advance;


Those time at disposal does not permit purchase by open or selected tender;
Those delay in procurement would involve loss;
Those the payments from advance amount involves larges quantity but in a
small form on each quantity;
The employee should fill up the Advance Requisition Form (Appendix-E)
at the time of advance taken.
Those advances should be compulsorily adjusted / settled within fifteen (15)
days of taking the advance and the balances, if any should be refunded
accordingly. In no circumstances the office liquid cash will be lying in the
hands of the staff members of Bangladesh Cricket Board. Thus, after making
the payment of the related program expenses by the person whom advance
has been taken, the remaining balance of liquid cash amount should
compulsorily refunded / deposited to the cash section of finance and
accounts.
In making the payment basic principles of payment policy shall be always
kept in consideration and view;
If a staff member to whom an advance has been made, fails to submit bills /
accounts supported by vouchers for adjustment with in stipulated time, the
total amount of advance will be deducted from his salary account till the
accounts of advance are finalized with out given any intimation to concerned
staff member.

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Accounting of advances, their adjustment against submission of bills, payment of


extra amount and deduction for non-submission of bills against advance will be
made in due care and timely manner.

151.00 Third Party Advance Against House Rent:

This is called as prepaid rent. In case of rental of houses for official purposes by
Bangladesh Cricket Board Management Office and Unit Offices, the following
procedures are applicable:

Rental of a house is initiated upon contractual agreement between


Bangladesh Cricket Board and the owner of the house;
Any authorized officer on behalf of Bangladesh Cricket Board can carry out
the initial formalities prior to rental of house and then signed the agreement
on behalf of Bangladesh Cricket Board;
After Agreement is done, the house owner may be given advance against
office rent as per terms and conditions of that agreement;
Adjustment of advances shall be clearly stated in the agreement and Account
Department should have a copy of that agreement and accordingly adjusted
the advance amount.

Accounting of advances & their adjustment against submission of bills will be


made monthly rent. This advance will have to be adjusted as per terms &
conditions.

152 Third Party Advance Against Material Suppliers / Contractors:

Advances to suppliers against material supplies / contractors are generally


discouraged. System should be such that no payments are made except for
works actually done.

Following are the cases where advances can be given:

If the contractual agreement permits, advances shall be made as per clause


of the agreement;
Approval is needed before advance;
In all other cases, only with the sanction of the Chief Executive Officer, which
may, in exceptional circumstances, authorize such advances as may be
deemed necessary, taking the proper precautions against loss and for

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preventing the system from becoming general or continuing longer than is


absolutely essential.
Accounting of advances & their adjustment against submission of bills will be
made on regular basis. This advance will have to be adjusted as per terms &
conditions of the agreement;
For payment of the submitted final bill of the supplier / contractor: Noted
that;

If the final bill amount of the supplier exceeds the taxable limit for
deduction of tax at source at the time of payment as per the Income Tax
Ordinance 1984, then it should be compulsory to deduct tax at the rates
applicable to this payment of the final bill.

If the bill amount of supplier is subject to VAT deducted at source at the


time of payment as per VAT Act 1991, then it should be compulsory to
deduct VAT at the rates applicable to this payment of the final bill.

Finally, the deducted (TAX & VAT) amount from the suppliers bill
should be deposited to the Government through treasury challan with
in the date as specified in the Income Tax Rules.

153.00 Third Party Advance Against Service Providers:

Advances to consultant for providing services are, however, permitted in the


following cases:

As per contractual agreement with the consultants / consulting firm & Board.
Cases, in which, in the interest of works, it is absolutely necessary to make
advance;
In all other cases, only with the sanction of the Chief Executive Officer, who
may, in exceptional circumstances, authorize such advances as may be
deemed necessary, taking the proper precautions against loss and for
preventing the system from becoming general or continuing longer than is
absolutely essential.

Accounting for advances & their adjustment against submission of bills will be
made on regular basis. Advance will be adjusted as per terms & conditions with
the service provider.

For payment of other part of the submitted final bills of consultant. Noted that:

If the final bill amount of consultant exceeds the taxable limit for deduction of
tax at source at the time of payment as per the Income Tax Ordinance 1984,
then it should be compulsory to deduct tax at the rates applicable to this
payment of the final bill.

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If the bill amount of the consultant is subject to VAT deducted at source at


the time of payment as per the VAT Act 1991, then it should be compulsory to
deduct VAT at the rates applicable to this payment of the final bill.
Finally, the deducted (TAX & VAT) amount from the consultants bill should
be deposited to the Government through treasury challan with in the date as
specified in the Income Tax Rules.

154.00 - Authorization of Advances:

The authorization of advances shall be made in the following ways;

Prior approval from the Chief Executive Officer is compulsory for outside
advances in cases of "advance against third party for material supplies",
"advance against service providers", "advance against rent" and "advance
against traveling - outside the country".
Prior approval from the Chief Executive Officer is compulsory for staff
advances.
Prior approval from the concerned authority is compulsory for staff advances
in case of "advance against traveling - within the country".
Prior approval from the concerned committee chairman is compulsory for
committee advances.

155.00 - Internal Control in Advance Management & Accounting:

Bangladesh Cricket Board management should establish a proper internal


control system in such a manner that:

One transaction of advance is never complete without passing through the


hands of at least three officials (preparation, authentication and financial
clearance);
Before authorization of adjustment of advances, proper documentation,
evidences and finally authenticity should be proved appropriately and
accurately with due care;
The authorities and responsibilities of various officials have to be arranged in
such a way that different persons are authenticating the advances,
documenting & recording the advances and ensure that the person who
receives the advances is always a different person.

Internal control in connection to operational steps of advances:

Advances will be initiated on advance requisition form.


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The advance will be approved as per delegated authority.


The advances requisition form will then be handed over to the
Finance and Accounts Department to check the particulars therein.
Accounts Department will prepare payment voucher and checked
the same.
Cash Section will then make payment after obtaining receiver's
signature.
Accounts Department will make the cash entry in the Cash Scroll.

Staff advances for traveling will be adjusted within fifteen (15) days after
return to office.
Maximum limit of advance shall be received by the staff members of
Bangladesh Cricket Board is not exceeding the limited as outlined by the
"Service Rules" of the Bangladesh Cricket Board in case of staff advance for
traveling cost.
Other advances will be adjusted as per Bangladesh Cricket Board Service
Rules and related Contract Agreement basis.
Expenses incurred will subsequently be approved as per policy and
guidelines.
On approval of the bills, accounts department will make the payment voucher
/ journal voucher / received voucher as the case may be.
Finance & Accounts Department will make entry in the computer and
updated the all ledgers.

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CHAPTER 12
FIXED ASSETS AND DEPRECIATION ACCOUNTING

156.00 Concept:

Fixed assets have the fundamental characteristic that they are held with the
object of earning revenue and not for the purpose of sale in the ordinary course
of business. Depreciable assets are assets which are expected to be used during
more than one accounting period. Note that land generally has an indefinite life
and is therefore not depreciable asset as defined above. The other assets do
have a definite life and are therefore depreciable assets. Thus, for accounting
purposes the value of land and building should be segregated. The land should
be maintained in the accounts with out depreciation. Building on other hand
should be depreciated.

157.00 Introduction:

The assets purchased / procured by Bangladesh Cricket Board could be termed


as fixed assets, the expected life or duration of which are relatively longer
period. The importance of proper accounting, maintenance and evaluation of
current conditions and or expected remaining life of fixed assets cannot be over
emphasized.

Unit price of any asset is at least Taka 1,000 (One Thousand) only will be
regarded as fixed asset of Bangladesh Cricket Board. For all that any item is
below worth Taka 1,000 (One Thousand) only but durable for many years will
not be capitalized. This definition will hold good to all purchase items and items
received as donation.

For this reason, proper register and accounting books are to be maintained in
Management Office to fully account for fixed assets in their possession. Where
fixed assets are procured, it will be necessary to keep an accurate account of
such assets for physical control and inventory.

158.00 Safe Custody of Fixed Assets:

Every offices of Bangladesh Cricket Board shall designate a staff member for
maintaining the records of fixed assets and their movements and safe custody.
Assets issued to various offices of Bangladesh Cricket Board shall remain in the
safe custody of those offices and therefore they will be responsible for
management of those assets.

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159.00 Procurement of Fixed Assets:

Fixed assets can only be procured by Bangladesh Cricket Board Management


Office centrally for its own use and for its unit offices. Unit Offices may procure
assets with the approval of Management Office. In any case, purchase or
procurement should always follow the rules & regulations of "Purchase Policy"
made and constituted in this regard. To procure and purchase of fixed asset it
should at least follows the under mentioned guidelines:

Prior approval is compulsorily needed of the respective authority;


Should follow the all rules and instructions of the purchase procedures as
laid down in this context;
Budgetary provision must be made and confirm for a fixed assets item before
its procurement can takes place;
Purchase of an assets will need the approval of Chief Executive Officer;
Requisition from the user and need of use should be clearly identified and
properly evaluated before placing the requisition of the concern asset
purchased;
Approval should be obtained for requisition of an assets in accordance with
the authorization of the Board;
Purchase requisition shall be raised by the person requiring the assets in a
purchase requisition form;
Approval of Chief Executive Officer is a must in case of decision of purchase
committee;
General Manager shall approve the purchase of assets up to Taka 2,000;
Chief Executive Officer shall directly approve the purchase of assets more
than Taka 2,000 up to Taka 50,000;
Purchase Committee will recommend purchase of assets valued above Taka
50,000 and final approval is given by Chief Executive Officer;
For sole agent lone quotation is sufficient;
Procurement procedure to be followed as per Procurement Policy;
Pro-forma invoice is required in case of sole distributor;
Spot quotation / price collection by two officers or employees from at least
three seller is required for purchase assets below Taka 300,000 for spot
purchase;
Comparative price statement shall be prepared for quotations received;
Goods Received & Inspection Note should be prepared;
Fixed Assets Register to be up dated.
In case of fixed assets being supplied by Management Office to unit offices,
corresponding challan advice must be sent as soon as goods are being sent. If
there is delay of getting those challans advice or challan advice gets lost in

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the process, then the offices should have to collect that particulars advice
from Management Office by taking its own initiatives.

160.00 Fixed Assets Registration:

Legal registration of all the purchased fixed assets shall be in the name of
Bangladesh Cricket Board. Chief Executive Officer or authorized officer of
Bangladesh Cricket Board on behalf of Bangladesh Cricket Board will sign in
deed / document related to registration.

161.00 Classification of Fixed Assets:

Assets valued at Taka 1,000 or more and lasting for more than one (1) year shall
be classified and entered in the assets register according to standard accounting
practices. A proper record shall be maintained for all fixed assets. The records
of assets shall be maintained using the accounting codes and heads as
illustrated in common chart of accounts.

162.00 Identification of Fixed Assets:

Identification number of fixed assets is a compulsory item in the management of


fixed assets and its control mechanism. An identification number for each
category of fixed assets items should be assigned for easy identification of the
assets. These identification numbers should be written on each item and the
numbers should be indicated on the fixed assets register also for each fixed
assets. In doing so the following continuity shall have to be maintained:

Name of Bangladesh Cricket Board;


One or two letters introducing the group viz., FR for furniture;
Two letters identifying the item viz., CH for chair;
Two letters identifying location of the assets for example, HO for
Management Office;
Three figures indicating serial number of same item such as
001,002,003 etc;
Last figures indicating the year of purchase used in the purchased item,
for example, for Management Office: B.C.B/FR/CH/HO/001/05.

163.00 Depreciation & its Accounting:

Every asset has a certain life span that varies depending on the particular
characteristics of that asset. Dividing the purchase value of an asset by its
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expected economic life or duration period (in years) results in that assets yearly
depreciation. Depreciation for the accounting period is charged to income either
directly or indirectly. The depreciation method selected should be applied
consistently from the period to period unless altered circumstances justify a
change. Depreciation is to be charged on fixed assets on reducing balance
method. Special instructions are:

The rate of depreciation will be instructed / circulated from


Management Office;
Depreciation of a fixed asset will have to be charged from the date of
purchase;

164.00 Sale of Fixed Assets:

If an item of fixed asset gets unusable, broken, obsolete, or no longer necessary,


then this item could be eligible for sale subject to the approval from the Chief
Executive Officer.

To sale or disposal it should at least follows the under mentioned guidelines:

Administration Department (Logistics section) in Management Office will


prepare a statement containing all unusable fixed assets & submit it to the
Chief Executive Officer through Chief of F&A & GM. He will then place it to
purchase committee to assess the need of disposal;
Purchase Committee will then assess the need of sale of assets, repurchase of
same assets, feasibility of fund etc, and final recommendation will then be
place to Chief Executive Officer in the matter of sale;
Fixed assets could be sold by inviting press tender (If the approximate price
of disposable asset is above Taka 100,000) or taking comparative quotation
rates (If the approximate price of disposable asset is below Taka 100,000).
This sale however, could be made also through mutual negotiation by taking
at least three (3) quotations to avoid undue complications. In all cases the
asset will be have to be sold to the highest bidder;
Fixed assets are usually sold through the Bangladesh Cricket Board
Management Office; Unit office may only on special circumstances with the
permission of Chief Executive Officer;
Only approved and authenticated Revenue / disposal of fixed assets
compulsorily shall be recorded and documented by doing accounting in books
of accounts and concern fixed assets register accordingly.

165.00 Accounting for Fixed Assets:


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This has been considered in four ways such as;

At the time of purchase / procurement;


At the time of sale / disposal;
At the time of write off and
At the time of charging depreciation.

A) - At the time of purchase / procurement:

1) If a fixed asset (photocopier) is purchased or procured by the


Management Office through making payment on cash / bank, then the
journal entry in the books of accounts will be made through cash
journal.

2) If a fixed asset (photocopier) is purchased or procured by the


Management Office on credit, then the journal entry in the books of
accounts will be made through journal voucher.

3) If a fixed asset (photocopier) is purchased or procured by the


Management Office on credit and make payment to the supplier later
on, then the journal entry in the books of accounts will be made
through cash journal.

B) - At the time of sale / disposal:

Journal entries to record the sale / disposal of fixed assets should


be entered in the accounts and fixed assets register.

C) - At the time of write-off:

Journal entries to record the write-off of fixed assets should be


entered in the accounts and fixed assets register.

D) - At the time of charging depreciation.

Through wear & tear, working lives of the fixed assets get shortened and
gradual loss of their workability takes place depending, of course, on the rate of
usage. To account for this loss / damage, depreciation as per schedule fixed by
management will have to be charged on fixed assets.

It is worth mentioning here that the fixed assets will always have to be shown in
the books of accounts at the original cost. At the time of preparing final
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accounts, the total accumulated depreciation is to be deducted from the cost


price of the fixed assets in question and the result is to be shown as the net book
value.

166.00 Fixed Assets Register:

Obviously, fixed assets play an extremely important role in every Board. As a


result, there is an ever-growing need to maintain and update various data and
information with regard to these assets i.e, the maintenance system, total
numbers, total value, present conditions and location of all the fixed assets.

Considering this requirement, it is necessary to keep a separate register for


fixed assets.

As soon as the procurement of fixed assets take place, various data related to
that assets have to be recorded in the fixed assets register. The vouchers
prepared (both cash journals and journal vouchers) in this connection will
indicate where and how the particulars are to be recorded in the fixed assets
register.

167.00 Instruction to Write up of Fixed Assets Register:

A - First stage - Particulars and references of assets:

In column 1 put the date of acquisition of fixed assets purchased;


In column 2 insert the references of cash journals or journal vouchers for
the concern procurement / sale / adjustment;
In column 3 put the quantity of assets;
In column 4 put the unit price of the asset;
In column 5 insert the cost price of the concern asset;

B - Second stage Value of assets:

In column 6 insert opening balance value at cost price of the asset of


particular year;
In column 7 insert the Taka amount for additional purchase during the
period;
In column 8 put the Taka amount cost price of sale / disposal / adjustment
of asset for the period;
In column 9 find out the Taka amount of total balance by adding the
column 6&7 and then deducting the column 8 from the results of adding;

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C Third stage Depreciation of assets:

In column 10 insert opening accumulated depreciation of assets of


particular period;
In column 11 insert the Taka amount of depreciation charges during the
period; Depreciation = [(Column 9 less column 10) multiply by rate of
depreciation]
In column 12 insert the Taka amount of any adjustment of depreciation;
In column 13 find out the Taka amount of total balance of depreciation by
adding the column 10 & 11 and then deducting the column 12 from the
results of adding;

D Fourth stage Written Down Value of assets:

In column 14 find out the Taka amount of written down value of assets by
deducting the column 13 from the column of 12.

168.00 Physical Counting of Fixed Assets & Reporting:

Every offices of Bangladesh Cricket Board shall make a provision for inspection
and physical verification of assets, by the person not related with the record of
assets, at least once in a year to find out the condition of moveable and
immovable assets.

All assets shall be inventoried at June closing each year compulsorily. Approved
inventory sheet shall be used for this purpose.

The stock on hand per fixed assets register shall be verified against the physical
counts and physical quality shall be recorded in the fixed assets register.

169.00 Damage, Loss & Destruction, and Insurance of Fixed Assets:

Each office of Bangladesh Cricket Board shall ensure that proper system is
installed to prevent assets from being damaged, lost or destroyed.

Every office also shall, when feasible, insure fixed assets against theft, pilferage
or possible loss due to accident, fire or natural calamities.

170.00 - Use of fixed assets on payment

On approval of management of Bangladesh Cricket Board any staff member of


Bangladesh Cricket Board can use asset (particularly vehicles) of Bangladesh
Cricket Board on payment through submitting a written application.
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CHAPTER 13
FINANCE COMMITTEE AND DELEGATION OF AUTHORITIES
171.00 - Finance Committee
The Finance Committee will be composed as per constitution [section 15 (Ga) ]
of the BCB. The constitution allows maximum of 7 (seven) members to be
included in the Finance Committee.

Purpose
To consider the financial results and budget of the BCB on a regular basis.
Following are the broad functions of the committee:

To consider the financial results and budgets on a regular basis.


To review and monitor internal controls procedure and systems of BCB on
a regular basis.
Recommend to the Board on finance, sponsorship and other commercial
matters.
Recommend Good Corporate Governance practices.

Meetings

The Committee should meet and consider reports on a quarterly basis.

Meetings will be held at such time that the CEO, in consultation with the
Committee Chairman, shall determine.

As the Committee is a working committee they will:

Consult with the Chief Executive Officer (CEO)


Report and recommend to the Board
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Roles and Responsibilities

The following matters are the specific responsibility of the Finance Committee
which acts as an advisory body to the Board.

The principle matters are:


Financial Planning Financial Aspects of BCB
Events
Preparation of budgets. Review financial processes
Receive reports on Financial Budgets. Distribution of revenues
Monitoring of financial performance on a BCB Costs
regular basis.
Review of the Development Program Prize Money
Budget

Financial Policy Consideration of Sponsorship and Promotion


Proposals
Financial Controls and Assist and advice any member on financial
compliance matters when required.
Investments
Management of funds
Review of Bank Accounts Any other matter deemed relevant raised by BCB
Review of Auditors Management
BCB Tax Position

DELEGATION OF FINANCIAL AUTHORITIES:

PROPERTY

Matter Approval Authority Conditions

New Leases Chief Executive Officer Within approved budget


limit

Renewal Leases and Chief Executive Officer Within approved budget


Rent reviews limit

Repair & Maintenance

- Upto Tk.50,000 Head of Administration Within approved budget


and CFO limit

- Above Tk.50,000 to Chief Executive Officer & Within approved budget


Tk.300,000 CFO limit

-Over Tk.300,000 Tender & Purchase Within approved budget


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Committee Chairman limit


and CFO

Insurance Chief Executive Officer & Within approved budget


CFO limit

Office Security Head of Administration Within approved budget


and CFO limit

Asset Written off Chief Executive Officer Within approved budget


(CEO) and CFO limit
concurrence with
Working Committee

Note : When actual expenditure will exceed from the Global Budget then
a supplementary budget should be approved by the Working Committee
and it must be approved in the Executive Committee Meeting as per
requirement of the BCB Constitution (provision 16 -1 (Kha).

EXPENDITURE

Matter Approval Authority Conditions


Expenditure
authorization
procedure:

- Under Tk.5,000 Head of Department Within approved


budget limit

- Over Tk.5,000 and Head of Admin and Head of Within approved


under Tk.15,000 Department budget limit

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- Over Tk.15,000 and Head of Department and CFO Within approved


under Tk.50,000 budget limit

- Over Tk.50,000 and CEO and CFO Within approved


under Tk.100,000 budget limit

- Over Tk.100,000 CEO and Concerned Committee Within approved


and under Chairman budget limit
Tk.300,000

- Over Tk.300,000 CEO, Concerned Committee Chairman Within approved


and Purchase Committee Chairman budget limit

Note: When the payment upto Tk.300,000 will be made in emergency case, CEO
will approve the payment subject to post facto approval by the above personnel
as per Expenditure authorization procedure.

Accounting
System:

For Petty Expenses:

- Under Tk.500 Assistant Manager Accounts Within approved


budget limit

- Over Tk..500 and Manager Finance & Accounts Within approved


under Tk.1,000 budget limit

- Over Tk.1,000 Chief Financial Officer (CFO) Within approved


budget limit

For General
Expenses:

- Under Tk.10,000 Manager Finance & Accounts Authorized by CFO

- Over Tk.10,000 Chief Financial Officer Within approved


budget limit

CHEQUE SIGNING LIMITS:

1. For any amount : Joint signatures of any one from the following groups:

Group A:
In general Treasurer / Chairman Finance Committee will sign the cheque. In the
absence of Treasurer / Chairman Finance Committee, General Secretary or any other
person as assigned by Executive Committee will sign the cheque. If both of the above
are absent then President of the board will sign the cheque.

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Group B:
In general the CEO will sign the cheque. In the absence of CEO, the CFO will sign the
cheque. In absence of CFO, Head of Administration will sign the cheque. When the
above three persons are absent then Manager (Finance & Accounts) will sign the
cheque.

In addition to above the banking transactions may also be carried in following manner
subject to approval of the BCB Executive Committee:

2. For amount upto Taka 50,000: Two signatories may required to sign the cheque
which are as follows:

To be signed jointly by the CEO and CFO. In absence of CEO or CFO, Head of
Administration or Manager (Finance & Accounts) will sign the cheque.

The above persons will only be authorized to sign any cheque upto Tk.50,000 after the
expenditure note sheet relating to the specific payment has been duly approved by the
Treasurer / Chairman Finance Committee and General Secretary (provided the
payments are within Budget).

Note : When actual expenditure will exceed from the Global Budget then a
supplementary budget should be approved by the Working Committee and it
must be approved in the Executive Committee Meeting as per requirement of
the BCB Constitution (provision 16 -1 (Kha).

BUDGET AND PLANNING

Matter Approval Authority Conditions


Annual Budget Executive Committee / Recommendation from
Working Committee Treasurer / Chairman Finance
Committee, respective Committee
Chairman, CEO and CFO.

Addition / Supplementary Executive Committee / Recommendation from


Budget Working Committee Treasurer / Chairman Finance
Committee and CEO.

- Amendments Executive Committee / Recommendation from


Working Committee Treasurer / Chairman Finance
Committee and CEO.

Budget Head Change Treasurer / Chairman Recommendation from CEO and


Finance Committee CFO.

Strategic Plan Executive Committee / Recommendation from CEO


Working Committee

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CHAPTER-14
CORPORATE GOVERNANCE

The Corporate Governance structure of BCB will be based on the Constitution of


the BCB. The Constitution of BCB will be followed in heart and sprit to ensure
strict accountability, transparency and good governance.

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CHAPTER-15
FINANCIAL REPORTING

172.00 -ANNUAL FINANCIAL STATEMENTS

Financial statements are a structured financial representation of the financial


position of and the transactions undertaken by the BCB. The objective of general
purpose financial statements is to provide information about the financial
position, performance and cash flows of the BCBs. Financial statements also
show the results of management's stewardship of the resources entrusted to it.
To meet this objective, financial statements provide information about an
enterprise's:

(a) assets;
(b) liabilities;
(c) equity;
(d) income and expenses, including gains and losses and
(e) cash flows.

This information, along with other information in the notes to financial


statements, assists users in predicting the enterprise's future cash flows and in
particular the timing and certainty of the generation of cash and cash
equivalents.

173.00 -RESPONSIBILITY FOR FINANCIAL STATEMENTS

The BCB CFO is primarily responsible for the preparation and presentation of its
financial statements.

Quarterly Financial Statements:


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By the 20th day after end of the quarter the CFO shall prepare a monthly
Financial Statement for submission to the Internal Auditor.

Annual Financial Statements:

By 31st July the financial statements of preceding financial year should be ready
for audit. Audit should be completed within August and ready for distribution by
15th September in each year.

174.00 -COMPONENTS OF FINANCIAL STATEMENTS

Annual and Quarterly financial statements of BCB should include following


components:

Balance Sheet;
Income Statement;
Statement of Changes in Funds;
Cash Flow Statement;
Development Fund Statement;
Accounting Policies and
Explanatory Notes.

Balance Sheet:

The Balance sheet of BCB will reflect the Financial Position of BCB. The
Statement will be presented in accordance with the Accounting Standard issued
by the International Accounting Standard (IAS) and Bangladesh Accounting
Standard (BAS).

Development Fund:

A separate Balance Sheet should be prepared for the Development Fund for
reporting purpose to the BCB.

Income Statement:

The Income Statement will be presented in accordance with the Standards


issued by the International Accounting Standard (IAS) and Bangladesh
Accounting Standard (BAS).

Statement of Changes in Funds

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BCB should present, as a separate component of its financial statements, a


statement showing:

a. The net income or expenditure for the period;


b. Each item of income and expense, gain or loss which, as required by
Standards, is recognized directly in equity, and the total of these items and
c. The cumulative effect of changes in accounting policy and the correction
of fundamental errors.

In addition, an enterprise should present, either within this statement or in the


notes:

a. Capital transactions,

b. The balance of accumulated profit or loss at the beginning of the period


and at the balance sheet date and the movements for the period.

Cash Flow Statement

The cash flow statement should report cash flows (inflows, outflows) during the
period classified under operating, investing and financing activities.

Operating activities are the principal revenue-producing activities of BCB


and other activities that are not investing or financing activities.

Investing activities are the acquisition and disposal of long-term assets and
other investments not included in cash equivalents.

Financing activities are activities that result in changes in the size and
composition of the equity capital and borrowings of the enterprise.

Development Fund Statement:

The Development fund statement should report all inflows and out flows of BCB
Development Fund. It should reflect all expenses incurred both by BCB.

Accounting Policies and Explanatory Notes:

The notes to the financial statements of BCB should:

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a. Present information about the basis of preparation of the financial


statements and the specific accounting policies selected and applied for
significant transactions and events;

b. Disclose the information required by the International Accounting


Standard (IAS) and Bangladesh Accounting Standard (BAS) that is not
presented elsewhere in the financial statements; and

c. Provide additional information which is not presented on the face of the


financial statements but that is necessary for a fair presentation.

Appendix-A
BANGLADESH CRICKET BOARD
ANNUAL BUDGET
Current Financial Year Previous
Financial
Year
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SL # Head Of Accounts 1st 2nd 3rd 4th Total Total Varian


Quarte Quarter Quarte Quart (BDT (BDT) ce
r r er )
July to Septemb Januar April
Septem er to y to to
ber Decembe March June
r
A Revenue Budget - -
(Cash in flow):
1. Direct Income: - -
Sales of TV - -
Broadcasting right
Sponsorship Money - -
Tournament Income - -
ACC/ICC - -
Development
Program
2. Indirect Income: - -
Interest and Other - -
Financial Income
Miscellaneous Income - -
Total Inflow: - - - - - - -
B Expenditures
Budget Out Flow:
1 General and - -
Administrative
Expenses:
Administration & HR - -
Cricket Operation - -
(Staff Salary &
Others)
Commercial - -
Chittagong Office - -
Expenses
Finance - -
Game Development - -
(Local Staff)
Game Development - -
(Foreign Staff)
Game Development - -
(Training, Workshop
and Strength &
Conditioning
Coaching)
Game Development - -
(General &
Administration)
G & F Management - -
Gift & Souvenir - -
Gate Law, Order & - -
Security
Information - -
Technology (IT)
Media & - -
Communication
Medical - -
Umpires - -
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Medical Insurance - -
(BUPA)
Other Expenses - -
(2004-05)
2 Cricket Activities: -
- - - - - -
Cricket Operation - -
(Tournament)
Cricket Operation - -
(Performance &
Winning Bonus)
Commercial - -
Cricket Committee of - -
Dhaka Metropolis
(CCDM)
Grounds & Facilities - -
Gift & Souvenir - -
Gate Law, Order & - -
Security
Game Development - -
Logistic and Protocol - -
Media & - -
Communication
Medical - -
Tournament - -
Committee
Ticket & Seating - -
Women Wings Cricket - -
Umpires
3 Capital - - -
Expenditures: - - -
G & F Management - -
Game Development - -
Information - -
Technology (IT)
Administration - -
Budget of Mirpur - -
Stadium construction
& Renovation cost
C Excess / (Deficit)- - - - - - -
(A-B)
Opening Balance - -
(In kind of Cash)
Opening Balance - -
(In kind of USD)
Investment in FDR - -
(USD)
Investment in FDR - -
(BDT)
D Total Fund - - - - - -
Available
Net Excess / - - - - - -
(Deficit) - (D+C)

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Appendix-B
BANGLADESH CRICKET BOARD
CHART OF ACCOUNTS
SL # A/c. Description A/c. Type
A. Accumulated Fund Capital
1 BCB Fund Capital
2 Control Account Capital
B. Fixed Assets Fixed Assets
1 Air cooler Fixed Assets
Accumulated Depreciation
2 Artificial Pitches Fixed Assets
Accumulated Depreciation
3 Bi Cycle Fixed Assets
Accumulated Depreciation
4 Bowling Machine Fixed Assets
Accumulated Depreciation
5 Carpet Fixed Assets
Accumulated Depreciation
6 Computer and Printers Fixed Assets
Accumulated Depreciation
7 Computer Software Fixed Assets
Accumulated Depreciation
8 Dish Movie Camera Fixed Assets
Accumulated Depreciation
9 Electric Equipment Fixed Assets
Accumulated Depreciation
10 Electronic Goods Fixed Assets
Accumulated Depreciation
11 Furniture and Fixture Fixed Assets
Accumulated Depreciation
12 Generator Fixed Assets
Accumulated Depreciation
13 Ground Super Sapper Machine Fixed Assets

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Accumulated Depreciation
14 Gymnasium Equipment Fixed Assets
Accumulated Depreciation
15 Ice Cuber Fixed Assets
Accumulated Depreciation
16 Indesit 4 Burners Fixed Assets
Accumulated Depreciation
17 Manual Score Board Fixed Assets
Accumulated Depreciation
18 Medical Equipment Fixed Assets
Accumulated Depreciation
19 Microphone Fixed Assets
Accumulated Depreciation
20 Mobile Practice Net Fixed Assets
Accumulated Depreciation
21 Mobile Set Fixed Assets
Accumulated Depreciation
22 Office Building Fixed Assets
Accumulated Depreciation
23 Office Equipment Fixed Assets
Accumulated Depreciation
24 PABX Set Fixed Assets
Accumulated Depreciation
25 Photocopy and Fax Machine Fixed Assets
Accumulated Depreciation
26 Pitch Covers Fixed Assets
Accumulated Depreciation
27 Pre-meter Board Fixed Assets
Accumulated Depreciation
28 Projector Fixed Assets
Accumulated Depreciation
29 Roller and Ground Machine Fixed Assets
Accumulated Depreciation
30 Side Screen Stand Fixed Assets
Accumulated Depreciation
31 Tarpaulin Fixed Assets
Accumulated Depreciation
32 Telephone Set Fixed Assets
Accumulated Depreciation
33 Television and VCR Fixed Assets
Accumulated Depreciation
34 Trophies Fixed Assets
Accumulated Depreciation
35 Type Writer Machine Fixed Assets
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Accumulated Depreciation
36 Video Camera Fixed Assets
Accumulated Depreciation
37 Vehicle Fixed Assets
Accumulated Depreciation
38 Vacuum Cleaners Fixed Assets
Accumulated Depreciation
39 Washing Machine Fixed Assets
Accumulated Depreciation
40 Wake Talkie Fixed Assets
Accumulated Depreciation
C. Current Assets:
1 Accounts Receivable: Current Assets
a. Grameen Phone Ltd. "
b. Green Delta Insurance Company "
c. Party related to International TV right "
d. M.M Ispahani Limited "
e. Receivable from ICC "
f. Standard Chartered Bank "
2 Advances: Current Assets
a. Advance to BCB Staff "
b. Advance to Cricket Board (Other) "
c. Advance to Other Person "
3 Deposit and Prepayment:
a. Investment in Fixed Deposit Current Assets
b. Security Deposit "
c. Loans "
d. Sundry Receivable "
e. Reimbursable Expenses "
4 Cash in hand and at Bank Current Assets
a. Cash at Bank "
b. Petty Cash "
D. Current Liabilities:
1 Accounts Payable Current
Liabilities
2 Outstanding Salary Current
Liabilities
3 AIT Deducted at Source Current
Liabilities
4 VAT Deducted at Source Current
Liabilities
5 Earnest Money Current
Liabilities
6 Employees' Contributory Provident Fund (CPF) Current
Liabilities

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7 Payable to ACC Current


Liabilities
8 Provision for Gratuity Current
Liabilities
9 Provision for Audit Fees Current
Liabilities
10 Deduction for fine from Players Current
Liabilities
11 House rent payable Current
Liabilities
12 Revenue stamp payable Current
Liabilities
E. Revenue:
1 Direct Income: Income
a. Sale of International TV Right "
b. Sponsorship Money "
c. Tournament Income "
d. Income From ACC/ICC Assistance "
e. National Sports Council "
2 Indirect Income: Income
a. Interest and Other Financial Income "
b. Income from Autograph Bat-2005 "
c. Gain / (Loss) from disposal of Fixed Assets "
d. Miscellaneous Income "
F. Expenditure:
1 Tournament Expenses: Expenditure
a. International Cricket "
b. Domestic Cricket "
c. Youth Cricket (Standard Chartered School "
Tournament Exp.)
d. Exhibition Cricket (Victory Day Cricket Tournament "
Exp.)
2 Coaching and Training: Expenditure
a. Club Cricket Participate Exp. "
b. MCC Young Cricket 2005 "
c. Overseas Players Exchange "
d. ACC Curator Training Expenses "
e. Level 1 Coaching Course "
f. National A Team Coaching "
g. National Team Coaching "
h. Specialist Coaches Clinic "
i. Umpires Refresher Course "
j. Under 19 Coaching Expenses "
k. Umpire Coaching "
l. Any Other Coaching Expenses "
3 Salaries, Allowances and Other Benefits Expenditure
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4 Accommodation and Food Expenditure


5 Overseas Tour Expenses: Expenditure
a. Asia Cup 200... Expenses "
b. Bangladesh "A" Team Tour Expenses "
c. Bangladesh A Team Tour Expenses "
d. Bangladesh National Team Tour Expenses "
e. ICC Championship Trophy Expenses "
f. Under15 Team Tour Expenses "
g. Under 16 Team Tour Expenses "
h. Under 17 Team Tour Expenses "
i. Under 19 Team Tour Expenses "
j. Compensation Expenses
k. Other Overseas Tour Expenses "
6 Donation and Charity Expenditure
7 Repairs, Maintenance and Operation Expenditure
8 Traveling and Transportation Expenditure
9 Rent , Taxes , Insurance and Advertisement Expenditure
10 Cricket Development Expenses: Expenditure
a. Age Level Cricket Development Program "
b. Expenses for Coaches of Cricket Development "
c. Expenses for Physician of Cricket Development "
d. Salary & Allowances of Age Level Coaches "
e. Ground Development Expenses "
f. High Performance Expenses "
g. National Players Salary "
h. Coaching Allowance "
i. Development Squad Tour to Australia "
j. Medical Expenses for Players "
k. Level I Cricket Coaching "
l. Salary & Allowances for Curators "
m. Salary for Development Division "
n. Salary for Local Coach "
o. Salary for Manager National Team "
p. Salary for Selector "
q. Sports Goods "
r. National Team Physio Salary & Allowances "
s. Administrative and General Expenses "
12 Professional & Other Fees Expenditure
13 Miscellaneous Expenditure
14 Expenditure for ACC/ICC Expenditure
15 Development and Reconstruction of Local Stadium Expenditure
and Grounds
16 Bad and Doubtful Debts against Accounts Receivable Expenditure
17 Financial Expenses Expenditure

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18 Public Relation Program Expenditure

Appendix-C
BANGLADESH CRICKET BOARD
BILL REGISTER

Sl. Receivi Committ Party Purpo Bill Bill Amou Remar


No ng ee/ se numb date nt ks
Date Deptt. er
1
2
3
4
5
6
7
8
9
10
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11

Appendix-D

BANGLADESH CRICKET BOARD


EXPENDITURE NOTE SHEET
Example: BCB has purchased goods from Rahim Enterprise amount of
Tk.141,150. The preparation of Expenditure Note Sheet of the purpose is as
follows:

Expenditure Note
Sheet: Date: ..

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Description of Expenditure: Rahim Enterprise has submitted a bill for


Tk.141,150 due to supply of goods in connection with the various exchange.
This amount is paid through cross cheque after deduction of the VAT and Tax at
source.

Rahim
Payee: Enterprize
Amount: 141,150
Bank Standard
Name: Bank
Cheque
No. 0124505

Particulars Foreign Rate Amount in


Currency Tk.

Value against Bill - - 141,150


Less:
VAT 2.25% - - 3,176
Income
Tax 1% - - 1,412
Net pay amount after Tax & VAT - - 136,563

Less: Advance - - 100,000


Net pay amount after Tax & VAT and
Advance - - 36,563

Authorize Personnel: Signature

Chief Executive Officer (CEO)


Chief Financial Officer (CFO)
Respective Department / Committee
Manager
Manager, Finance & Accounts
Assistant Manager, Finance &
Accounts

Appendix-E

BANGLADESH CRICKET BOARD

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ADVANCE REQUISITION FORM


Name:
Designation:
Date:

Sl. No. Purpose of Advance Amount Amount Amount


(FYC) (USD) (BDT)

Total
Amount In words:
Budget Reference:

.................... .................... .................... ....................


Certified by Approved by Signature of Received By
Payee

N. B : Advance should be adjusted along with supporting documents


within fifteen days after completion of the work/Tournament.

BANGLADESH CRICKET BOARD


IOU FORM

Bangladesh Cricket Board


Address...

IOU FORM
Date: To be adjusted on or before:.......................
.....................................................................
Amount : Purpose:.......................................................
..................................................................
Amount in word :
.....................................................
Name:
....................................................................
Designation :
.........................................................

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Received by Paid by Approved by

Appendix-F

BANGLADESH CRICKET BOARD


AGREEMENT REGISTER

S Dat Agreement Party Purpose Consideratio Allowable Net Re Signature


l. e of Period n deduction Receivable mar
N Agr Start End FY BDT FYC BD FYC BD ks BC Witne
o. ee C T T B ss
me
nt
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
1 21- 1/11/ 31-3- NIMBUS Sale of $ 3,981 $ 1,4 $ 2,5 Pre Mr. X
11- 2006 2012 Sport Internatio 56, ,600, 20,01 00, 36,86 80, sid & Mr.
200 Internatio nal TV 880 000 4,000 980 6,000 620 ent Y
6 nal Pte Rights ,00 ,00 ,00
Ltd. 0 0 0

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Appendix-G

BANGLADESH CRICKET BOARD


CONVEYANCE BILL
Name:

Designation:

Date:

Date of Purpose From To Mode of Amount in


Journey Transport Taka

Amount in words :

.................... .................... .................... ....................


Certified by Approved by Signature of Received By
Payee

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Appendix-H
BANGLADESH CRICKET BOARD
TOUR PROGRAM
Name: Date:

Designation:

Departure Arrival

Place Date Time Place Date Time

Tour Dairy/Tour Details:

....................... ....................... ....................... .......................


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Certified by Approved by Signature of Received By


Payee

Appendix-I
BANGLADESH CRICKET BOARD
TA/DA BILL

Name: Date:
Designation:

Departure Arrival

Place Date Time Place Date Time

Tour Dairy/Tour Details:

Expenditure Head:

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Name of Amount In Amount In Amount In


Expenditure (FYC) (USD) (BDT)
Travel Allowance
( TA)
Daily Allowance
(DA)
Accommodation
Others
Total
Less Advance
Net Payment

(Amount in word :--------------------------------------------------------------------------------------)

....................... ....................... ....................... ...................


....
Certified by Approved by Signature of Received
Payee By

Appendix-J
BANGLADESH CRICKET BOARD
CHEQUE / ADVICE REGISTER

Bank:
Branch Name:
Account Number: Page No.
----------
Dat Cheque Payee's Amou Signature Signature Cheque Remar
e Numbe name nt of the with full prepare ks
r Taka account name of d by
operator receiver &
date
1 2 3 4 5 6 7 8

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Appendix-K
BANGLADESH CRICKET BOARD
INVOICE

Ref:
Date:
Invoice No.

To
Address

Particulars Amount
(BDT)

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Total Taka

Amount in Words: --------------------------------------------------------------------------------------------

Details for mode of payment ------------------------------------------------------------------------------

E & OE

Chief Financial Officer


Bangladesh Cricket Board

Appendix-L
BANGLADESH CRICKET BOARD
MISCELLANEOUS BILL

Name: Date:

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Designation:

Sl. Description Amoun Amount Amou


No t (FYC) (USD) nt
. (BDT)

Total
Less: Advance
Net Payable to
the payee

(Amount in
word :--------------------------------------------------------------------------------------)

....................... ....................... ....................... .......................


Certified by Approved by Signature of Received By
Payee

Appendix-M

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BANGLADESH CRICKET BOARD


MONEY RECEIPT
R. No.

Name:

Amount in words:

Receive with thanks from as following purpose:

Description Amount

Sponsor Ship Money -----------------------------------------


Advance Adjust ( AwMg mg^q )------------------------------
Donation ( mvnvh eve`)----------------------------------------
Authorized Fees ( Abygv`b Puv`v)------------------------------
Annual Subscription ( evrmwiK Puv`v)--------------------------
Entry Fees ( cek Puv`v)-------------------------
Registration Fees ( iwRkb Puv`v)-----------------------------
Team Transfer Fees ( `j cwieZb Puv`v)---------------
Protest Fees ( cwZev` Puv`v)---------------------------------------
ID Card ( AvB wW KvW)---------------------------
Duplicating Card ( WywcKwUs KvW)-------------------
Misc.( wewea)----------------------------------

Total:

.......................
Received by Authorized Signature
Date:

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Appendix-N

BANGLADESH CRICKET BOARD


REQUISITION FOR GOODS

Name:

Designation:

Date:

Sl Description of Goods Value of Remark


. goods/Stock Requisition goods s
N Quantity
o
Issue Received
d

Total:

....................... ................... ....................... .......................


....
Store keeper seal & Certified by Approve Goods Received
Singe d by by

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Appendix-O
BANGLADESH CRICKET BOARD
WORK ORDER REGISTER

Sl. Issu Committ Part Purpo Work Work Bill Amou Remar
No e ee/ y se Order Com date nt ks
Dat Departm numb plete
e ent er d
date
1
2
3
4
5
6
7
8
9
10
11

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66.00 Bill Register:

No bill register maintained in each department to record the bill


particulars and controlling on easily payment in due time: Party bill is
received by respective department / committee, prepares committee note sheet
and forwards to accounts department for payment. A Bill Register should be
maintained by the respective department / committee and record the
transactions after receiving the bill. A control Bill register should also be
maintained by Accounts department and record the transactions at the time of
receiving the bill along with related documents from the respective department /
committee. When the payment will be made to the party then record the
payment transaction in the both Bill Register. Reconciliation should be made at
month end between the department / committee Bill Register and Accounts
department control Bill Register and find out the non-presented bill (the bill
received by the department / committee but not forward to the accounts
department) and unpaid bill.

Here our observation is that the above has not been followed to easily payment
the bill in due time.

Recom:
The above provision should be followed for smooth payment.

A bill register format is shown in Appendix C.

The supplier will submit the bill to the respective department / committee.
The respective department / committee shall check the bills quantity and
description with challan. After checking the bill, the respective department /
committee shall record the bill transaction in their Bill Register (Bill
Register, Ref. point 66) and prepare a department / committee Note
Sheet and attach the relevant documents (three spot quotations, work order,
approved budget copy, certified challan copy, approved bill copy ect.). The
department / committee Note Sheet should be approved by the departmental
head or Committee Chairman where applicable. The department / committee

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shall forward the Note Sheet along with relevant documents to Accounts
Department for payment.

164

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