The Harmful Effects Of Smoking Cigarettes - 964 Words

Tobacco is widely used by people around the world. It’s so addicting that many people cannot prevent themselves from smoking. The reason is because of a toxin called nicotine. Nicotine can be found in all tobacco products. Prior to research, researchers have found that nicotine changes the way the brain works, also when a person smokes tobacco they not only consume nicotine, but also over 600 chemicals including tar, ammonia, acetone, lead, methanol, and more (What s In a Cigarette?). Many of those chemicals are poisonous and at least 69 of them can cause cancer (Pietrangelo). The nicotine as well as over 600 chemicals are very harmful for the body, however the fact it’s harmful doesn’t stop people from smoking. Many people will argue smoking is very beneficial. They would seek tobacco cigarettes because it relieves stress, makes them look attractive and cool, and reduces their hunger, and much more. The positive effects of smoking may seem beneficial, but the ne gative effects make a greater impact in your life and body. Tobacco smoking effects a person’s life in many ways; it can effect a person physically and mentally. Tobacco can damage inner organs including: the brain, heart, lungs, mouth, and throat, as well as the outer organs including the skin, hair, and nails. To begin with, let’s clear something about smoking. Many people will argue smoking relieves stress, but studies conducted at the London School of Medicine and Dentistry proven it was a myth (O’Conner). TheShow MoreRelatedEssay on Harmful Effects Of Smoking Cigarettes1247 Words   |  5 PagesHarmful Effects Of Smoking Cigarettes Mentioned Photos Not Included There are numerous effects of smoking Cigarettes that affect the individual. They can affect not only your health but also your social and family life. It can also affect the non-smoker around you. Non-smokers suffer from allergies, noise and eye irritations and headaches as a result of inhaling second hand smoke. Smoking while youre pregnant can result to the growth of the foetus and may even result in the death of the babyRead MoreSmoking Life Away: The Harmful Effects of Smoking Cigarettes1403 Words   |  6 PagesSmoking Life Away Smoke travels far. After the smoke is released, it diffuses and travels in the atmosphere reaching just about anything at a reasonable distance. When one smoker puffs out, it affects that person, somebody across from that person, and the clean air around that person. Ever wonder why warnings and disclaimers are always present with anything that concerns smoking? This is because it is dangerous, and it is harmful , and it should warn you about the lasting impact it leaves youRead MoreHarmful Effects of Smoking1418 Words   |  6 PagesHarmful effects of smoking Doan Thi Huong Thao BAIU08155 International University HCMC Academic English 2 Bien Thi Thanh Mai Instructor May 17, 2010 Abstract Smoking is known to be a primary cause of harmful effects on health, family, environment and society. However, scientist research in health and environment, that researches show that smoking cause many diseases, even lung cancer. An aim of my study has been to determine that smoking also effect on family and society. Results indicatedRead MoreEssay on Marijuana vs. Cigarettes1012 Words   |  5 PagesCigarettes are a mixture of the most dangerous substances for humans to consume and yet they are legal and mass produced so that everyone can smoke them. Marijuana on the other hand is nowhere nearly as harmful as cigarettes but is illegal and looked at as if it were far worse than cigarettes. It is long overdue that society recognizes the fact that marijuana is better for people than cigarettes by a mile. Cigarettes are extremely more addictive than marijuana, the usage patterns for marijuana cannotRead MoreImplementation Of The Tabaco Plain Packaging Act 20111585 Words   |  7 Pa gesUnion are also considering implementing similar legislation or directives. As the legislation has only been implemented in one jurisdiction there is no conclusive evidence on the effects of such legislation the case for such legislation is that it discourages smoking, particularly the initiation of smoking, by making smoking less attractive (Germain et al., 2010; Quit 2011). This research will aim to consolidate previous research to make an informed decision on the effectiveness of cessation followingRead MoreE Cigarettes, The Next Big Thing1612 Words   |  7 PagesE-Cigarettes, the Next Big Thing The Los Angeles Times states: â€Å"Electronic Cigarettes are either a potent weapon in war against tobacco, or they are insidious menace that threatens to get kids hooked on nicotine and make smoking socially acceptable again† (Morin). E-cigarettes are now becoming more widespread, especially among young people. The electronic cigarette industry is growing rapidly in the United States due to the rising demand, which is stirring up opinions and research among the massesRead MoreBans on Smoking in Public Areas1476 Words   |  6 Pagespeople that die because of smoking each year! Smoking is the leading preventable cause of death in the U.S. Each year more than 480,000 people die because of smoking. This is just one of the many reasons why I believe that cigarette smoking should be banned in public areas. I will argue this point in three ways. First, I will argue that the health effects of smoking are so harmful that cigarettes should not be allowed in public areas. Next, I wil l argue that the negative effects go beyond just healthRead MoreHarmful Effects of Smoking806 Words   |  4 PagesSmoking has become very common and fashionable, especially among young boys. This habit usually begins at school when boys try to experiment with every new thing that they can lay their hands on. Despite the warnings given by doctors about the ill-effects of smoking, people continue to smoke. Smokers are addicted to it, and even if they want to, they cannot refrain from picking up a cigar or cigarette and puffing away. Some youngsters smoke for the sake of society and some feel that would make themRead MoreShould Cigarette Smoking Be Banned?1365 Words   |  6 PagesShould Cigarette Smoking be banned? The United States Surgeon General’s report stated that cigarette smoking is the major single cause of cancer death in the United States. This statement is so true today. Smoking a cigarette is an acquired behavior and that makes it the most preventable cause of death in our society. Cigarettes contain nicotine, tar, and carbon monoxide, as well as formaldehyde, ammonia, hydrogen cyanide, arsenic, and DDT. The main ingredient in cigarettes is tobacco. The nicotineRead MoreShould Cigarette Smoking Be Banned?1376 Words   |  6 PagesSurgeon General’s report stated that cigarette smoking is the major single cause of cancer death in the United States. This statement is so true today. Smoking a cigarette is an acquired behavior and that makes it the most preventable cause of death in our society. Cigarettes contain nicotine, tar, and carbon monoxide, as well as formaldehyde, ammonia, hydrogen cyanide, arsenic, and DDT. The main ingredient in cigarettes is tobacco. The ni cotine in cigarettes is very addictive and when smoke containing

Toys City Inc. - 1208 Words

LGT 3105 Operation Management – Case Assignment 1 (Toys City Inc.) 1. I would have accommodated David Cheung’s vacation request. It is because based on the Critical Path Method (CPM), the network diagram of the work of different audit areas comes as Figure 1, and we can find that the critical path which is the series of activities using the longest time to complete is Activity 1-2-5-7-10-13-15. It means that if there is any delay on Activity 1, 2, 5, 7, 10, 13, 15, the whole project would be delayed also. However, David is only responsible on the auditing of liquid assets which is Activity 4 which is not in the critical path. The vacation or delay made by David would not affect the progress of the whole project.†¦show more content†¦Activity 7 requires $18.6667 to reduce 1 duration hour. Activity 9 requires $10 to reduce 1 duration hour. Activity 12 requires $50 to reduce 1 duration hour. Activity 13 requires $120 to reduce 1 duration hour. Activity 14 requires $50 to reduce 1 duration hour. [pic]Figure 2 In order to meet the accelerating deadline which is 60 hours earlier at minimum additional cost, we should first look at the network diagram and the critical path. From Figure 1, we know that the critical path is Activity 1-2-5-7-10-13-15. It is because if there is any change of time in the Activities on the critical path, the whole progress time of the project will change. Therefore, we choose to crash the activities on the critical path with the lowest crash cost in order to lower the time used with minimum additional cost. Activity 7 has the lowest crash cost within the Activities on the critical path. So, we choose to crash Activity 7 first. Although Activity 7 can crash for 45 hours, we cannot crash all the hours. It is because when Activity 7 crash to 50 hours, a new critical path is created. [pic]Figure 3 After crashing Activity 7 to reduce 43 hours by using $802.6681 ($18.6667*43), now another new critical path Activity 1-2-5-8-9-12-14-15 is created. It has just reduced 43 hours and there are still 17 hours to go. Now, there are 2 critical paths and we need to find the combinationShow MoreRelatedAmazon.Com Case Study1032 Words   |  5 Pagesjudge ruled that Amazon.com Inc. violated its agreement to give toy retailer ToysR Us Inc. the exclusive right to sell toys and baby products on Amazon s Web site. In the ruling,New Jersey Superior Court Judge Margaret Mary McVeigh said Toys R Us can sever theagreement it signed  with Amazon in August 2000, in which it agreed to sell toys on Amazon.com sWeb site, effectively putting Amazon in control of the Web address www.toysrus.com. The rulingpaves the way for Toys R Us to operate the WebRead MoreGalaxy Toys, Inc. Company Profile Essay1153 Words   |  5 PagesBMGT 364 Galaxy Toys, Inc. Company Profile Welcome to Galaxy Toys, Inc.! The assessment projects for this course will examine different facets of the management of Galaxy Toys and students will be exploring various scenarios and providing analysis and recommendations from the perspective of a management consultant. Each project has been carefully designed to provide students with opportunities to demonstrate mastery of various management concepts that students have been developing through variousRead MoreEssay about Business Sample Questions1644 Words   |  7 Pagesyard. What type of easement does this situation describe, an easement appurtenant or an easement in gross? What are the differences between the two types of easements? 15. The city of Richmond needs land owned by the Neelans to expand a middle school. The Neelans do not want to sell. Discuss what course of action the city can take and the basis for this action. 16. Briefly discuss a patent, copyright, and trademark. 17. Stuart is vying for a promotion, but faces competition from a co-workerRead MoreToy world case study955 Words   |  4 Pages TOYWORLD CASE STUDY Prepared By: ABDULLAH AL-SHAHRANI MOHAMMED AL-JUHANI Background: ToyWorld, Inc. was founded in 1973 by David Dunton. Before that, he had been employed as production manager by a large manufacturer of plastic toys. Mr. Dunton and his former assistant, Jack McClintock, established Toy World, Inc. with their savings in 1973. Originally a partnership, the firm was incorporated in1974, with Mr. Dunton taking 75% of the capital stock andRead MoreInformative Speech : The Pixar Theory1382 Words   |  6 Pagestimelines includes Toy Story (1995), A Bug’s Life (1998), Toy Story 2 (1998), Monsters Inc. (2001), Finding Nemo (2003), The Incredibles (2004), Cars (2006), Ratatouille (2007), WALL-E (2008), Up (2009), Toy Story 3 (2010), Cars 2 (2011), Brave (2012) ,and 2013 Monsters University (Negroni, 2015). Central Idea: The connection between all Pixar movies (before 2015) and made may include Inside Out and The Good Dinosaur. Also that humans are batteries. And that Boo from Monster Inc. is the being thatRead MoreCase Study : Dollar Tree Logistics902 Words   |  4 Pages SCHM 6211 Supply Chain Management-Transportation CASE STUDY 1: Dollar Tree Logistics Submitted by: Sharabh Kochar (NUID: 001630222) Company Background Dollar Tree Stores, Inc. is the largest retailer among low-price convenient variety stores in the United States. Selling all of their merchandise at the one dollar or less price range, the company’s stores offers a wide variety of general goods, including food, housewares, health and beauty products, hardware, cleaning supplies, andRead MoreToy World, Inc.1405 Words   |  6 PagesToy World, Inc. is a fairly healthy toy manufacturing business that is looking at a cross roads in it s main operating procedure. Jack McClintock is President and partial owner of Toy World. His new production manager, Dan Hoffman, has been on the job through one business cycle (about one year). This toy business is a seasonal business with most of the sales coming between August and December. Since its inception Toy World has followed a seasonal production schedule to match customer demandRead MoreCases Chapter 1 - Introduction to Electronic Commerce1479 Words   |  6 PagesCASES CHAPTER 1 - INTRODUCTION TO ELECTRONIC COMMERCE CASE 1: AMAZON.COM Required: 1. In 2004, Toys R Us sued Amazon.com for violating terms of the agreement between the companies (specifically, Toys R Us objected to Amazon.com’s permitting Amazon Marketplace retailers to sell toys) (Note: when the lawsuit was filed, Amazon Marketplace was called â€Å"zShops†). Amazon.com responded by filing a countersuit. After more than two years of litigation, a New Jersey Superior Court judge ruled that the agreementRead MoreThe Pixar Theory Of Pixar1342 Words   |  6 Pagesall to think back to time when you were a kid and anything seemed possible. A time when believed your toys came to life when you weren’t looking, that you dog could talk, and that monsters were hiding under your bed. This morning I would like to take you all on a journey back to that time and expand our imaginations a bit. Do you all remember when you were a kid and a movie like Monsters Inc. or Toy Story was your favorite movie and you watched the VHS tape over and over? And then Mo nsters UniversityRead MoreEssay about Toy World1102 Words   |  5 Pagesto level monthly production of toys will change the seasonal cycle of Toys Worlds working capital needs and necessitate new bank credit arrangements. It has to be analyzed the companys performance, forecast fund needs and make a recommendation. The case introduces the pattern of current assets and cash flows in a seasonal company and provide and elementary exercise in the construction of the pro forma financial statements and estimation of fund needs. Toy World has been facing two basic

Toys City Inc. - 1208 Words

LGT 3105 Operation Management – Case Assignment 1 (Toys City Inc.) 1. I would have accommodated David Cheung’s vacation request. It is because based on the Critical Path Method (CPM), the network diagram of the work of different audit areas comes as Figure 1, and we can find that the critical path which is the series of activities using the longest time to complete is Activity 1-2-5-7-10-13-15. It means that if there is any delay on Activity 1, 2, 5, 7, 10, 13, 15, the whole project would be delayed also. However, David is only responsible on the auditing of liquid assets which is Activity 4 which is not in the critical path. The vacation or delay made by David would not affect the progress of the whole project.†¦show more content†¦Activity 7 requires $18.6667 to reduce 1 duration hour. Activity 9 requires $10 to reduce 1 duration hour. Activity 12 requires $50 to reduce 1 duration hour. Activity 13 requires $120 to reduce 1 duration hour. Activity 14 requires $50 to reduce 1 duration hour. [pic]Figure 2 In order to meet the accelerating deadline which is 60 hours earlier at minimum additional cost, we should first look at the network diagram and the critical path. From Figure 1, we know that the critical path is Activity 1-2-5-7-10-13-15. It is because if there is any change of time in the Activities on the critical path, the whole progress time of the project will change. Therefore, we choose to crash the activities on the critical path with the lowest crash cost in order to lower the time used with minimum additional cost. Activity 7 has the lowest crash cost within the Activities on the critical path. So, we choose to crash Activity 7 first. Although Activity 7 can crash for 45 hours, we cannot crash all the hours. It is because when Activity 7 crash to 50 hours, a new critical path is created. [pic]Figure 3 After crashing Activity 7 to reduce 43 hours by using $802.6681 ($18.6667*43), now another new critical path Activity 1-2-5-8-9-12-14-15 is created. It has just reduced 43 hours and there are still 17 hours to go. Now, there are 2 critical paths and we need to find the combinationShow MoreRelatedAmazon.Com Case Study1032 Words   |  5 Pagesjudge ruled that Amazon.com Inc. violated its agreement to give toy retailer ToysR Us Inc. the exclusive right to sell toys and baby products on Amazon s Web site. In the ruling,New Jersey Superior Court Judge Margaret Mary McVeigh said Toys R Us can sever theagreement it signed  with Amazon in August 2000, in which it agreed to sell toys on Amazon.com sWeb site, effectively putting Amazon in control of the Web address www.toysrus.com. The rulingpaves the way for Toys R Us to operate the WebRead MoreGalaxy Toys, Inc. Company Profile Essay1153 Words   |  5 PagesBMGT 364 Galaxy Toys, Inc. Company Profile Welcome to Galaxy Toys, Inc.! The assessment projects for this course will examine different facets of the management of Galaxy Toys and students will be exploring various scenarios and providing analysis and recommendations from the perspective of a management consultant. Each project has been carefully designed to provide students with opportunities to demonstrate mastery of various management concepts that students have been developing through variousRead MoreEssay about Business Sample Questions1644 Words   |  7 Pagesyard. What type of easement does this situation describe, an easement appurtenant or an easement in gross? What are the differences between the two types of easements? 15. The city of Richmond needs land owned by the Neelans to expand a middle school. The Neelans do not want to sell. Discuss what course of action the city can take and the basis for this action. 16. Briefly discuss a patent, copyright, and trademark. 17. Stuart is vying for a promotion, but faces competition from a co-workerRead MoreToy world case study955 Words   |  4 Pages TOYWORLD CASE STUDY Prepared By: ABDULLAH AL-SHAHRANI MOHAMMED AL-JUHANI Background: ToyWorld, Inc. was founded in 1973 by David Dunton. Before that, he had been employed as production manager by a large manufacturer of plastic toys. Mr. Dunton and his former assistant, Jack McClintock, established Toy World, Inc. with their savings in 1973. Originally a partnership, the firm was incorporated in1974, with Mr. Dunton taking 75% of the capital stock andRead MoreInformative Speech : The Pixar Theory1382 Words   |  6 Pagestimelines includes Toy Story (1995), A Bug’s Life (1998), Toy Story 2 (1998), Monsters Inc. (2001), Finding Nemo (2003), The Incredibles (2004), Cars (2006), Ratatouille (2007), WALL-E (2008), Up (2009), Toy Story 3 (2010), Cars 2 (2011), Brave (2012) ,and 2013 Monsters University (Negroni, 2015). Central Idea: The connection between all Pixar movies (before 2015) and made may include Inside Out and The Good Dinosaur. Also that humans are batteries. And that Boo from Monster Inc. is the being thatRead MoreCase Study : Dollar Tree Logistics902 Words   |  4 Pages SCHM 6211 Supply Chain Management-Transportation CASE STUDY 1: Dollar Tree Logistics Submitted by: Sharabh Kochar (NUID: 001630222) Company Background Dollar Tree Stores, Inc. is the largest retailer among low-price convenient variety stores in the United States. Selling all of their merchandise at the one dollar or less price range, the company’s stores offers a wide variety of general goods, including food, housewares, health and beauty products, hardware, cleaning supplies, andRead MoreToy World, Inc.1405 Words   |  6 PagesToy World, Inc. is a fairly healthy toy manufacturing business that is looking at a cross roads in it s main operating procedure. Jack McClintock is President and partial owner of Toy World. His new production manager, Dan Hoffman, has been on the job through one business cycle (about one year). This toy business is a seasonal business with most of the sales coming between August and December. Since its inception Toy World has followed a seasonal production schedule to match customer demandRead MoreCases Chapter 1 - Introduction to Electronic Commerce1479 Words   |  6 PagesCASES CHAPTER 1 - INTRODUCTION TO ELECTRONIC COMMERCE CASE 1: AMAZON.COM Required: 1. In 2004, Toys R Us sued Amazon.com for violating terms of the agreement between the companies (specifically, Toys R Us objected to Amazon.com’s permitting Amazon Marketplace retailers to sell toys) (Note: when the lawsuit was filed, Amazon Marketplace was called â€Å"zShops†). Amazon.com responded by filing a countersuit. After more than two years of litigation, a New Jersey Superior Court judge ruled that the agreementRead MoreThe Pixar Theory Of Pixar1342 Words   |  6 Pagesall to think back to time when you were a kid and anything seemed possible. A time when believed your toys came to life when you weren’t looking, that you dog could talk, and that monsters were hiding under your bed. This morning I would like to take you all on a journey back to that time and expand our imaginations a bit. Do you all remember when you were a kid and a movie like Monsters Inc. or Toy Story was your favorite movie and you watched the VHS tape over and over? And then Mo nsters UniversityRead MoreEssay about Toy World1102 Words   |  5 Pagesto level monthly production of toys will change the seasonal cycle of Toys Worlds working capital needs and necessitate new bank credit arrangements. It has to be analyzed the companys performance, forecast fund needs and make a recommendation. The case introduces the pattern of current assets and cash flows in a seasonal company and provide and elementary exercise in the construction of the pro forma financial statements and estimation of fund needs. Toy World has been facing two basic

Toys City Inc. - 1208 Words

LGT 3105 Operation Management – Case Assignment 1 (Toys City Inc.) 1. I would have accommodated David Cheung’s vacation request. It is because based on the Critical Path Method (CPM), the network diagram of the work of different audit areas comes as Figure 1, and we can find that the critical path which is the series of activities using the longest time to complete is Activity 1-2-5-7-10-13-15. It means that if there is any delay on Activity 1, 2, 5, 7, 10, 13, 15, the whole project would be delayed also. However, David is only responsible on the auditing of liquid assets which is Activity 4 which is not in the critical path. The vacation or delay made by David would not affect the progress of the whole project.†¦show more content†¦Activity 7 requires $18.6667 to reduce 1 duration hour. Activity 9 requires $10 to reduce 1 duration hour. Activity 12 requires $50 to reduce 1 duration hour. Activity 13 requires $120 to reduce 1 duration hour. Activity 14 requires $50 to reduce 1 duration hour. [pic]Figure 2 In order to meet the accelerating deadline which is 60 hours earlier at minimum additional cost, we should first look at the network diagram and the critical path. From Figure 1, we know that the critical path is Activity 1-2-5-7-10-13-15. It is because if there is any change of time in the Activities on the critical path, the whole progress time of the project will change. Therefore, we choose to crash the activities on the critical path with the lowest crash cost in order to lower the time used with minimum additional cost. Activity 7 has the lowest crash cost within the Activities on the critical path. So, we choose to crash Activity 7 first. Although Activity 7 can crash for 45 hours, we cannot crash all the hours. It is because when Activity 7 crash to 50 hours, a new critical path is created. [pic]Figure 3 After crashing Activity 7 to reduce 43 hours by using $802.6681 ($18.6667*43), now another new critical path Activity 1-2-5-8-9-12-14-15 is created. It has just reduced 43 hours and there are still 17 hours to go. Now, there are 2 critical paths and we need to find the combinationShow MoreRelatedAmazon.Com Case Study1032 Words   |  5 Pagesjudge ruled that Amazon.com Inc. violated its agreement to give toy retailer ToysR Us Inc. the exclusive right to sell toys and baby products on Amazon s Web site. In the ruling,New Jersey Superior Court Judge Margaret Mary McVeigh said Toys R Us can sever theagreement it signed  with Amazon in August 2000, in which it agreed to sell toys on Amazon.com sWeb site, effectively putting Amazon in control of the Web address www.toysrus.com. The rulingpaves the way for Toys R Us to operate the WebRead MoreGalaxy Toys, Inc. Company Profile Essay1153 Words   |  5 PagesBMGT 364 Galaxy Toys, Inc. Company Profile Welcome to Galaxy Toys, Inc.! The assessment projects for this course will examine different facets of the management of Galaxy Toys and students will be exploring various scenarios and providing analysis and recommendations from the perspective of a management consultant. Each project has been carefully designed to provide students with opportunities to demonstrate mastery of various management concepts that students have been developing through variousRead MoreEssay about Business Sample Questions1644 Words   |  7 Pagesyard. What type of easement does this situation describe, an easement appurtenant or an easement in gross? What are the differences between the two types of easements? 15. The city of Richmond needs land owned by the Neelans to expand a middle school. The Neelans do not want to sell. Discuss what course of action the city can take and the basis for this action. 16. Briefly discuss a patent, copyright, and trademark. 17. Stuart is vying for a promotion, but faces competition from a co-workerRead MoreToy world case study955 Words   |  4 Pages TOYWORLD CASE STUDY Prepared By: ABDULLAH AL-SHAHRANI MOHAMMED AL-JUHANI Background: ToyWorld, Inc. was founded in 1973 by David Dunton. Before that, he had been employed as production manager by a large manufacturer of plastic toys. Mr. Dunton and his former assistant, Jack McClintock, established Toy World, Inc. with their savings in 1973. Originally a partnership, the firm was incorporated in1974, with Mr. Dunton taking 75% of the capital stock andRead MoreInformative Speech : The Pixar Theory1382 Words   |  6 Pagestimelines includes Toy Story (1995), A Bug’s Life (1998), Toy Story 2 (1998), Monsters Inc. (2001), Finding Nemo (2003), The Incredibles (2004), Cars (2006), Ratatouille (2007), WALL-E (2008), Up (2009), Toy Story 3 (2010), Cars 2 (2011), Brave (2012) ,and 2013 Monsters University (Negroni, 2015). Central Idea: The connection between all Pixar movies (before 2015) and made may include Inside Out and The Good Dinosaur. Also that humans are batteries. And that Boo from Monster Inc. is the being thatRead MoreCase Study : Dollar Tree Logistics902 Words   |  4 Pages SCHM 6211 Supply Chain Management-Transportation CASE STUDY 1: Dollar Tree Logistics Submitted by: Sharabh Kochar (NUID: 001630222) Company Background Dollar Tree Stores, Inc. is the largest retailer among low-price convenient variety stores in the United States. Selling all of their merchandise at the one dollar or less price range, the company’s stores offers a wide variety of general goods, including food, housewares, health and beauty products, hardware, cleaning supplies, andRead MoreToy World, Inc.1405 Words   |  6 PagesToy World, Inc. is a fairly healthy toy manufacturing business that is looking at a cross roads in it s main operating procedure. Jack McClintock is President and partial owner of Toy World. His new production manager, Dan Hoffman, has been on the job through one business cycle (about one year). This toy business is a seasonal business with most of the sales coming between August and December. Since its inception Toy World has followed a seasonal production schedule to match customer demandRead MoreCases Chapter 1 - Introduction to Electronic Commerce1479 Words   |  6 PagesCASES CHAPTER 1 - INTRODUCTION TO ELECTRONIC COMMERCE CASE 1: AMAZON.COM Required: 1. In 2004, Toys R Us sued Amazon.com for violating terms of the agreement between the companies (specifically, Toys R Us objected to Amazon.com’s permitting Amazon Marketplace retailers to sell toys) (Note: when the lawsuit was filed, Amazon Marketplace was called â€Å"zShops†). Amazon.com responded by filing a countersuit. After more than two years of litigation, a New Jersey Superior Court judge ruled that the agreementRead MoreThe Pixar Theory Of Pixar1342 Words   |  6 Pagesall to think back to time when you were a kid and anything seemed possible. A time when believed your toys came to life when you weren’t looking, that you dog could talk, and that monsters were hiding under your bed. This morning I would like to take you all on a journey back to that time and expand our imaginations a bit. Do you all remember when you were a kid and a movie like Monsters Inc. or Toy Story was your favorite movie and you watched the VHS tape over and over? And then Mo nsters UniversityRead MoreEssay about Toy World1102 Words   |  5 Pagesto level monthly production of toys will change the seasonal cycle of Toys Worlds working capital needs and necessitate new bank credit arrangements. It has to be analyzed the companys performance, forecast fund needs and make a recommendation. The case introduces the pattern of current assets and cash flows in a seasonal company and provide and elementary exercise in the construction of the pro forma financial statements and estimation of fund needs. Toy World has been facing two basic

IFIC Bank Ltd. Banking Activities and Asset Liabilities Free Essays

string(22) " record profit of Tk\." The topic of dissertation was selected upon consultation with course instructor of respective department. The main aim of this report is to find out the operational activities and the financial trend of IFIC bank Ltd. From this analysis we find out the financial situation and this analysis from the annual report issued by IFIC Bank Ltd. We will write a custom essay sample on IFIC Bank Ltd.: Banking Activities and Asset Liabilities or any similar topic only for you Order Now from the year 2005 to 2009, which was the main source of information. INTRODUCTION Motivation of the Report: We are the students of BBA program of Daffodil International University. As we are studying the Principle of Banking in this semester, we have to gather huge amount of knowledge about the Banking activities.To acquire practical knowledge about the banking activities our course instructor has motivated us to do this type of assignment. That’s why we have motivated to prepare this report. Objective of the Report: A study in banking activities and asset and liabilities of Prime Bank Limited to find out its activities and performance in terms of anticipated customer’s requirements and provide them with the service, which meet their market, quality and service need. †¢ To give a brief about the history and information of this bank. †¢ To inform about the bank mission and vision of IFIC Bank Limited. †¢ Setting a general idea about operation procedures and functions of AB Banking Limited.†¢ To explain about the services that the organization are offering to its customers. To have an idea about the different techniques of banking operation. Methodology The study is based on secondary data methodology of this final report is given below: Data regarding the organization profile collected in the following ways: †¢ From the organization’s Annual report. †¢ Online information. †¢ By interviewing the organization’s officials. †¢ Observational method will also be used in this study. Limitation of the study: Any assignment paper needs high degree of involvement regarding collection of information, creation of database, literature review and analysis of data. In this study, we have tried our level best to collect the related information within the time constraint. SOURCES AND USES OF FUNDBanks gets profit by investing their collected funds. Depositors provide major part of the bank fund, as such; banks must invest reasonable efforts to attract money of the depositors. Bank can also collect fund from different other sources. On the other hand, providing loan is the largest head to use funds of the commercial bank. Managing the flow of funds is the basic concern of banks. So, the management of bank always keeps closer look on the inflow’s and outflow’s of funds. BACKGROUND OF IFIC BANK Portrait of the Bank International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company incorporated in the People’s Republic of Bangladesh with limited liability.It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full fledged commercial bank. The Government of the People’s Republic of Bangladesh now holds 32. 75% of the share capital of the Bank. Directors and Sponsors having vast experience in the field of trade and commerce own 11. 42% of the share capital and the rest is held by the general public The Bank covers by its activities all the important trading and commercial centers of the country. As on November 22, 2010 it had 88 branches within Bangladesh. Bank’s Mission Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make our position unique in giving quality service to all institutions and individuals that we care for. ?We are committed to the welfare and economic prosperity of the people and the community, for we drive from them our inspiration and drive for onward progress to prosperity. ? We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in regional banking operating beyond the national boundary. ? In an intensely competitive and complex financial and business environment, we particularly focus on growth and profitability of all concer ned. Business Objectives †¢ Make sound investments. Customer satisfaction first †¢ Meet capital adequacy requirement at all the time. †¢ Ensure 95% recovery of all advances †¢ Ensure a satisfied work force. †¢ Focus on fee-based income. †¢ Adopt an appropriate management technology. †¢ Install a scientific MIS to monitor Bank’s activities 2. 5 Capital and Reserves The Bank started with an Authorized capital of Tk. 100 million in 1983. Paid up capital at that time stood at Tk. 71. 50 million only. Over the last 19 years, the authorized and paid-up capital has increased substantially. The paid capital stood at Tk. 406. 39 million as on December 31, 2001. The Bank has built up a strong reserve base over the years.In last 19 years its Reserves and Surplus have increased overly. As against Tk. 21. 20 million only in 1983 Reserve and surplus increased to Tk. 622. 53 million in 2001. This consistent policy of building up Reserves has enabled the Bank to maintain a better adequacy ratio as compared to others. With the active support and guidance from the Government, the bank has been showing a steady and improved performance. In its fifteen years operation, the bank has earned the status of leading in terms of both business and goodwill. Starting modest deposit of only Tk. 863. 40 million in 1983 the Bank has closed its business with Tk. 17616. 68 million of deposit as on December 31, 2001.The annual growth rate has mostly been higher compared to both banking sector growth and individual growth rates achieved by others. As against a profit of Tk. 21. 94 million in 1984, the Bank earned a record profit of Tk. You read "IFIC Bank Ltd.: Banking Activities and Asset Liabilities" in category "Papers" 248. 00 million for the year ended on December 2001. Operation Abroad: Joint Venture ? Bank of Maldives – In 1983, IFIC Bank set up a joint venture bank names Bank of Maldives Limited (BML). It is the first bank of Maldives. In 1992, as per contract, IFIC Bank handed over the management of BML to Maldives. ? b. Oman-Bangladesh Exchange – To facilitate remittance by Bangladeshi in Oman, IFIC bank set up a money exchange company as a joint venture, named Oman-Bangladesh Exchange. Branch abroad Pakistan Branch – IFIC Bank opened its first overseas branch in Karachi, Pakistan. It opened its second branch at Lahore in Pakistan. ? Nepal Bangladesh Limited – In December 1993, the Bank got permission to establish a joint venture bank with 50% equity capital in Nepal. The Bank known as, Nepal Bangladesh Ltd. came into operation in June 1994. Human Resource Development The Bank has a Human Resource Development ; Research Department to develop human resources internally. The Academy is equipped with professional library, modern training aids professional faculty and other facility. It is now under Personnel ; Human Resource Development ; Research Division.The Academy conducts regularly foundation courses, specialized courses and seminars on different areas of banking to take care of the professional needs. Total manpower stood at 2237 as on September, 2010 Product Service Information I. Finance/Loans: ? Cash Credit ? Secured Overdraft ? Bank Guarantee ? Long Term and Short Term Financing ? House Building Loan ? Car Loan II. Foreign Exchange ? Non Resident Foreign Currency Account (NFCD) ? Non Resident BDT Deposit Account (NRTA) ? Resident Foreign Currency Deposit Account (RFCD) ? Foreign Currency Deposit Account ? Money Gram ? UAE Exchange ? Placid Express III. Deposit Scheme ? Savings Bank Account (SB A/C) ? Current Deposit Account (CD A/C) NCC Bank Special Savings Scheme (SSS) ? Fixed Term Deposit (FDR) ? Short Term Deposit (STD) ? Money Double Deposit Programs ? Premium Term Deposit ? Interest Earning Term Deposit Retail Banking [pic] Retail Banking is mass-banking facility for individual customers to avail banking services directly from their wide branch net work all over the country. IFIC provide one stop financial services to all individual customers thorough their innovative pr oducts and services to cater their need. With a view to provide faster and more convenient centralized online banking services, most of IFIC branches have been brought under the real time online banking system.IFIC Bank offers a wide variety of deposit products, loan product and value added services to suit consumer banking requirements. Products and services for individual customer include. Consumer finance, deposit product, card, NRB account, student File, SMS banking. Deposit Product IFIC bank offers a wide variety of deposit products to meet consumer financial needs from current and savings account to fixed deposits and pension schemes each account is designed to give Consumers the best value for their money. Saving account [pic] IFIC are offering the most attractive interest rate of 5% on consumer savings account. [pic]Initial Deposit: Tk. 500. 00 at rural branches ; Tk. 000/- for urban branches which should be considered as minimum balance. [pic]Competitive Interest Rate [pic]No extra hidden charge [pic]Debit Card facility [pic]SMS Banking Facility [pic]ATM facility [pic]Online banking facility [pic]Utility payment service [pic]Transfer of fund from one branch to another [pic]Opportunity for availing locker facility Current Account: [pic] Minimum required balance Tk. 2000/-. Debit Card facility ATM facility Online Banking facility SMS Banking Facility Utility payment service Transfer of fund from one branch to another Opportunity for availing locker facility No extra hidden charge Fixed Deposit Receipt (FDR)Fixed deposit gives you higher interest than other forms of deposits. IFIC Bank is offering competitive interest rate in FDR: Fixed Deposits Rate FDR (3 Months ; above) [pic]Less than Tk. 1. 00 crore8. 25% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 50% [pic]Tk. 5. 00 crore and above9. 25% FDR (6 Months ; above) [pic]Less than Tk. 1. 00 crore8. 25% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 50% [pic]Tk. 5. 00 crore and above9. 25% FDR (1 Year) [pic]Less than Tk. 1. 00 crore8. 00% [pic]Tk. 1. 00 crore and above but less than Tk. 5. 00 crore. 8. 25% [pic]Tk. 5. 00 crore and above9. 50% Pension Savings Scheme (PSS) [pic]IFIC Bank is pleased to offer 3(three) / 5(five) Years Monthly Savings plan with higher return and monthly pension option at maturity. Monthly Installment option and Payment after maturity, now being offered under the scheme, are as under: |Monthly Instalment |3 years Terms |5 years Terms | | |Amount payable After maturity |Amount payable After maturity | |Tk. 500 |Tk. 20,781 |Tk. 38,134 | |Tk. 1,000 |Tk. 41,562 |Tk. 76,268 | |Tk. 2,000 |Tk. 83,125 |Tk. ,52,536 | |Tk. 3,000 |Tk. 1,24,687 |Tk. 2,28,804 | |Tk. 5,000 |Tk. 2,07,812 |Tk. 3,81,340 | |Tk. 10,000 |Tk. 4,15,624 |Tk. 7,62,680 | |Tk. 15,000 |Tk. 6,23,435 |Tk. 11,44,020 | |Tk. 20,000 |Tk. 8,31,247 |Tk. 15,25,360 | |Tk. 25,000 |Tk. 10,39,059 |Tk. 19,06,699 | |Tk. 0,000 |Tk. 20,78,118 |Tk. 38,13,399 | Consumer can receive full payment at maturity or option for a pension on monthly basis to meet their needs. The scheme entitles consumer to have Income Tax Rebate to make their savings even more valuable. Income Tax Rebate: Monthly installments of IFIC PSS will qualify as allowable investment in Yearly Income Tax Return. The account under this scheme will also be exempted from deduction of tax on interest payable at source. However, If any tax or other Govt. Levy is payable under this Scheme in future the same shall be deducted from the account. Credit Facility: The A/c holder can avail loan / Secured Overdraft (maximum 80% of the deposited principal amount but not less than Tk. 20, 000/-) against lien of the PSS account to meet the personal need, educational expenses of his/her children or for medical treatment. Double Return Deposit Scheme (DSS) Enjoy higher return on your valuable Investment IFIC Bank is pleased to offer 8 ? Years – Double Return Deposit Scheme (DRDS) with special feature: |Minimum Deposit |Term |Benefit | |Tk. 25,000 |8 ? Yrs. |Double return after 8 ? Years. | | | |(subject to deduction of Tax ; Excise duty) |Special Feature: If consumer require to have their money back after completion of 1(one) year, IFIC will not deprive consumer from interest for pre-encashment. For each completed years and subsequent completed years you will get interest @8. 50% p. a. Credit Facility: You can avail Credit facility up to max. 90% of the deposited amount against registering Lien on Instrument with the issuing Branch. Monthly Income scheme (MIS) Deposit once and Enjoy Higher Return on Monthly basis |Deposit |Term |Gross Monthly Income | |Tk. 50,000 or multiple |3 Yrs. |Tk. 350. 00 (i. e Tk. 700. 00 per lac) | pic]If consumer are 18 years of age or above , consumer are welcome to apply for keeping deposit under this Deposit scheme. If they are not yet 18 , become so and soon. [pic]Can be opened in Joint names or in the name of any Institutions. [pic]Consumers will require opening / having a CD/SB Account with the Branch. [pic]Consumers can open more than one account in your name in any branch Credit Facility: Consumers can avail loan/overdraft facility against registering lien on the MIS account as per the Bank’s prescribed rates and rules. Monthly Income will be paid after deduction of Tax/Excise duty or any other levy as may be decided by the Government of Bangladesh from time to time. Special notice deposit (SND) AccountSpecial Notice deposit (SND) Account is opened for any individual form financial institutions. Initial Deposit for opening account Tk. 25,000/- (Min. ) SND interest Rate [pic]Less than Tk. 1. 00 crore2. 00% [pic]Tk. 1. 00 crore and above but less than Tk. 25. 00 crore2. 50% [pic]Tk. 25. 00 crore and above but less than Tk. 50. 00 crore4. 00% [pic]Tk. 50. 00 crore and above but less than Tk. 100. 00 crore2. 00% [pic]Tk. 100. 00 crore and above 2. 00% Three Years Deposit Plus (3YDP) Enjoy higher return on your valuable Investment IFIC Bank is pleased to offer three years deposit plus (3YDP) scheme with special feature |Deposit Amount |Term |Amount payable after maturity | |Tk. 0,000 or its multiple |3Yrs. |Tk. 64,183/- or its multiple | | | |i. e. Tk 1,28,367/- per Lac | | | |(subject to deduction of Tax ; Excise duty) | Special Feature: If Consumers require to have your money back after completion of 6(six) months, IFIC will not deprive Consumers from interest for pre- encashment. For each completed 6(six) months and subsequent completion of 6(six) months Consumers will get interest @8. 50% p. a. compounded at half yearly rest. (Effective Rate 8. 68% p. a. )Eligibility: If Consumers are 18 years of age or above, he or she are welcome to apply for keeping deposit under this deposit scheme. if they are not yet 18. become so and soon Can be opened in joint names or in the name of any institution Can be opened in the name of Minor under the signature of the Guardian Credit Facility: Consumers can avail credit facility up to max 90% of the deposited amount against registering lien on instrument with the issuing branch. Loans and Advances: SME Banking [pic] The growth of Small and Medium enterprises (SMEs) in terms of size and number has multiple effects on the national economy, specifically on employment generation, GDP growth, and poverty alleviation in Bangladesh.At present, Small ; Medium Enterprise sector is playing a vital role in creation of new generation entrepreneurs and ‘Entrepreneurs Culture’ in the country. Experience shows that borrowers of small enterprise sector prefers collateral free loan since normally they cannot offer high value security to cover the exposure. To facilitate SME sector of the country, IFIC Bank provides collateral free credit facilities to the sma ll ; medium entrepreneurs across the country whose access to traditional credit facilities are very limited. IFIC are offering 15 different products for selected target groups, such as – Easy Commercial Loan, Retailers Loan, Muldhan Loan, Women Entrepreneur’s Loan (Protyasha), Transport Loan, Working Capital Loan, Project Loan, letter of Contractor’s Loan, Bidder’s Loan,Working Capital Loan, Project Loan, Letter of Guarantee, Letter of Credit Loan against Imported Merchandize (LIM), Loan against Trust Receipt etc. Working Capital Loan: Business Enterprises (other than public Limited company) engaged in manufacturing/trading business are eligible to avail working capital Loan to meet day to day expenses for processing of manufacturing and selling product. Interest Rate: 14. 00% p. a with quarterly rest or as revised from time to time Loan processing Fess: Tk. 2000 Service Charge: 0. 25% on loan amount Min; Tk 5000 Required documents 1. One copy passport size photograph of intending borrowers as well as guarantors 2. Valid trade license 3. TIN certificate 4.Bank statement for last six months 6. Financial statement 7. Original Title deed 8. Bia dessd 9. CS, SA, RS and Hal Parcha 10. Mutation with DCR 11. Up to date rent receipt 12. Site map tax receipt 13. CIB report of the borrower Women Entrepreneur’s Loan (Protyasha) Any business purpose loan for small and medium sized business, woned by women entrepreneurs. Eligibility: Woman Entrepreneurs having two years experience in the same line of business. Monthly cash flow to support proposed loan installment Nature of the Loan: Term Loan Loan size: Minimum Tk 50000 and Maximum tk 3 lac Repayment: Monthly repayment facility Security: No collateral securityLoan Period: Maximum 18 (Eighteen) months for loan amount of Tk. 50,000 Maximum 24 (Twenty four) months for loan upto Tk. 1. 00 lac. Maximum 36 (Thirty six) months for loan upto Tk. 3. 00 lac. Interest Rate: 15. 00% p. a. with quarterly rest or as revised from time to time. Loan Processing Fees: Tk. 500/- to be realized. Service charge:. 25% on Loan amount, Max Tk 500 Penal Interest: Additional 3% on the overdue over limit amount, if any Required Requirement 1. One copy passport size photograph of borrower/ Partners as well as guarantor(s). 2. Copy of National Identity Card. 3. Copy of valid Trade License. 4. Declaration of Net Worth of the borrower. 5.Duly signed and crossed post dated cheques in favour of Bank branch for each instalment and one undated cheque for full loan value including full interest supported by memorandum of deposit of cheques. 6. Financial statement. 7. Up to date clean CIB report. 8. NOC from Directorate of Environment, where required. Transport Loan To purchase of Road/Water transport for commercial use individual, business enterprises (other than public limited company) engaged in transport business at least two years experience are eligible for transport loan. Interest Rate: 14. 75% to 15. 50% p. a. with quarterly rest or as revised from time to time Loan processing fees: 1. 00% on loan amount maximum tk. 10000 Service Charge: . 0% on loan amount Penal Interest: Additional 2. 00% p. a. on the overdue amount, if any Required Requirement 1. One copy passport size photograph of intending borrower(s) as well as guarantor(s) 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months 5. Submission of Financial statement 6. Quotation of vehicle accepted by the intending borrower 7. Original Title Deed of the property 8. Bia Deed 9. CA, SA, RS ; Hal parcha 10. Mutation with DCR 11. Upto date rent receipt 12. Municipal Tax Receipt 13. Non-encumbrance certificate 14. No objection/permission from competent authority for mortgage of property(ies) where required 15.CIB report on the borrower 16. Partnership deed (in case of partnership firm) registered with RJSC ; Firm along with letter of partnership on Bank’s prescribed format 17. Memorandum Articles of Association along with certificate of incorporation duly certified by RJSC and resolution from the Board of Directors (in case of private limited company). 18. Copy of upto date list of directors (Form XII) certified by RJSC Retailers Loan To meet working capital finance for any small and retail entrepreneur with successful business record, having a valid trade license are eligible for retailer’s loan. Eligibility: Successful Business Record and Valid trade licenseNature of the loan: Term Loan Repayment: Monthly Repayment facility Security: No collateral security Loan size: Maximum Tk 2 Lac. Loan period: 12 To 36 Months Interest Rate: 16%p. a with quarterly rest or as revised from time to time Loan Processing Fees: Tk 500 up to Tk 1000 abouve 1 lac. Service Charge: 1% on Loan Amount Penal Interest: Additional 2% p. a on the overdue amount If any Required Requirement 1. One copy passport size photograph. 2. Copy of Trade License 3. Declaration Net worth 4. Duly signed crossed post dated cheque in favour of bank branch for each instalment one undated cheque for full loan value including full interest. Bidder’s Loan:Individuals, business enterprises (other than public limited company) engaged in construction and supply business can avail Bidder’s loan for issuing Payment Order/Demand Draft etc. to participating in tenders. Interest Rate: 15. 50% p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 2000 Service Charge: 0. 25% on loan amount minimum Tk 5000 Panal Interest: Additional 2. 00%p. a on the overdue amount. Required Documents Required Requirement 1. One copy passport size photograph of Proprietor/Partners/ Managing Director of the company as well as guarantors(s). 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months. 5. Financial statement. 6.An under taking from the borrower to the effect that all PO/SDR/DD (except the successful one) issued under the limit shall be deposited to the branch for credit to the relevant loan General Account 7. Original title deed 8. Bia deed 9. CS, SA, RS ; Hal Parcha 10. Mutation with DCR 11. Upto date rent receipt 12. Site Map/Municipal tax receipt 13. Non-encumbrance certificate 14. NOC from concerned authority for creation mortgage where applicable 15. CIB report of the borrower 16. Partnership deed along with Letter of Partnership on Ban’s prescribed format 17. Memorandum ; Articles of Association with certificate of incorporation duly certified by RJSC 18.Certified copy of upto date list of directors (Form XII). Commercial House Building Loan: Individual, business enterprises having commercial plot are eligible for construction of commercial building. Interest Rate: 13. 00%p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 5000 upto 25 lac Tk 10000 above 25 lac Service Charge: 0. 50% on loan amount Penal interest: Additional 2. 00%p. a the overdue amount. If any Required documents: 1. one copy passport size photograph of Proprietor/Partner/Managing Director as well as guarantor(s) 2. Valid Trade License 3. TIN certificate 4. Bank statement for last 6 (six) months 5. Financial statement 6.Original Deed 7. Bia deed 8. CS, SA, RS ; Hal parcha 9. Mutation with DCR 10. Upto date rent paid receipt 11. Site Map 12. Non-encumbrance certificate 13. Approved plan for construction from the competent authority 14NOC from he concerned authority for creation of mortgage, where applicable 15. Estimated cost of construction by a Civil Engineer 16CIB report of the borrower 17. Registered partnership deed along with letter of partnership on Bank’s prescribed format 18. Memorandum Articles of Association along with certificate of incorporation duly certified by RJSC 19. Certified copy of upto date list of directors (Form XII). Contractor Loan:Individual, business enterprises (other than public limited company) engaged in construction and supply business are eligible for secured over draft to execute work order awarded by Govt. /Semi Govt. Autonomous Bodies. Interest Rate: 15. 50%p. a with quarterly rest or as revised from time to time Loan processing fees: Tk 2000 Service Charge: 0. 25% on loan amount Penal interest: Additioanl 2. 00%p. a the overdue amount. If any Required documents: 1. Onecopy passport size photograph of intending borrower(s) as well as guarantors(s). 2. Valid Trade License 3. Copy of valid enlistment certificate 4. Bank statement for last 6 (six) months 5. Financial statement 6. TIN certificate 7. CIB report of the borrower 8.Partnership deed registered with RJSC Firm 9. Letter of partnership in Bank’s prescribed format 10. Memorandum ; Articles of Association with certificate of incorporation duly certified by RJSC 11. Copy of work order awarded with copy of terms of agreement 12Original title deed 13. Bia deed 14. CS, SA, RS ; Hal Parcha 15. Mutation with DCR 16. Upto date rent receipt 17. Site Map/Municipal tax receipt 18. Non-encumbrance certificate 19. NOC from concerned authority for creation mortgage where applicable Easy commercial Loan: To meet business requirement of individual business enterprises (other than public limited company) against pledge of financial instruments i. e.FDR, ICB Unit Certificate, WEDB, NFCD, PSS Account, MIS ; Share Certificates ; any other Govt. security eligible for credit facilities. |Interest Rate | |IFIC Bank FDR |2. 00% above the FDR Rate but not less than 10. 50% p. a. with | | |quarterly rest or as revised from time to time. | |Other Banks FDR |2. 00% above the Other FDR Rate but not less than 10. 50% p. a. | | |with quarterly rest or as revised from time to time. | |ICB Unit certificate, WEDB ; and other |13. 00% p. a. ith quarterly rest or as revised from time to time. | |Financial Instruments. | | |NFCD |13. 00% p. a. with quarterly rest or as revised from time to time. | |Pension Saving Scheme |13. 00% p. a. with quarterly rest or as revised from time to time. | |MIS |13. 00% p. a. with quarterly rest or as revised from time to time. | |Share |13. 00% p. a. with quarterly rest or as revised from time to time | Loan Processing Fees: Tk 500 Penal Interest: Additional 2. 00% p. a on the over due amount Required Documents: 1. Trade License 2. CIB report of the borrower 3. Memorandum and Articles of Association along with certificate of incorporation and resolution from Board of Directors of the company. 4. Deed of Partnership along with letter of partnership on Bank’s prescribed format (for partnership firm). Foreign Trade Financing: i. Export trade financing ii. Import trade financing Export Trade Financing: Export L/C operation is just reverse of the import L/C operation. For exporting goods by the local exporter, Bank may act as advising bank and negotiating for the exporter. As a negotiating Bank, it receives documents from the foreign importer and hand it over to the exporter.Sometimes it adds confirmation on the L/C on request from the opening Bank. By adding confirmation it assumes the responsibility to make payment to the exporter. As negotiating Bank, it negotiates the bills and other shipping documents in favor of the exporter. That is, it collects proceed of the export-bill from the drawer and credits the exporter’s account for the same. Sometimes the banks purchase the bills at discount from the local exporter and waits till maturity of the bill. When the bill matures, Bank presents it to the drawer to Ancash. In our country, export and import operations of Bank is very much related with one another because of use on Back to Back L/C.Most of the L/C opened is Back to Back L/C and maturity of payment for Back to Back L/C is set in such that it can be paid our of export proceeds. So export and import sections works as one unit. These two operations can hardly be separated from one another in the branch. Exporters need finance in the following manner: †¢ Pre-shipment Finance. †¢ Post-shipment Finance. 1. Pre-shipment Finance: The exporter may avail of facilities during pre-shipment stage in the following ways: i. Back-to-Back Credit. ii. Packing Credit. i. Back-to-Back Credit: Under this arrangement IFIC Bank finances an export by opening a letter of credit on behalf of the exporter who has received a letter of credit form the overseas buyer but is not the actual manufactures or producers of the exportable goods. The letter of credit is opened in favor of the actual producer or supplier within or outside the country. Since the second letter of credit is opened on the strength of, and backed by, another letter of credit it is called â€Å"Back- to-Back Credit†. The need for a back-to-back credit arises because the beneficiary or the original letter of credit may have to procure the goods from the actual producer who may not supply the goods unless its payment is guaranteed by IFIC Bank in the form of a letter of credit. The supplier is generally paid after negotiation of the documents. Since this type of financing is somewhat risky, IFIC Bank sometimes asks for collateral security before opening letter of credit.The back-toback letter of credit must confirm to the terms and conditions of the original letter of credit. Back-to-Back L/C condition: Security †¢ Lien and physical possession of export L/C in favor of the Bank (affixing lien mark on it). †¢ Imported items will be stored in a bonded warehouse under joint and effective control of bank and customs authority after clearing through the approval C; F agent. Other conditions †¢ Drawing to draft clause †¢ Import of raw materials in proportion to the working capacity and convenience of the factory †¢ Treatment of interest †¢ Undertaking must be given by the party in case of any failure to export the goods †¢ Time of opening L/C and negotiation within specific periodBack-to-Back L/C shall be opened only in the currency in which export L/C would be receive to avoid loss due to exchange fluctuation ii. Packing Credit: Packing Credit covers the credits extended by IFIC Banks to the exporters prior to the shipment of the goods. Such credit is granted to the exporter for procurement and processing of raw materials, manufacturing of finished products, packing and transporting goods meant for export to foreign countries. Such facility is allowed to an e xporter just at a time when he has the foreign buyers order by the way of confirmed export letter of credit or a firm contract. When the order is executed, the packing credit gets paid out of the proceeds of the bill drawn on the foreign buyer. Post Shipment Finance: Post shipment credit is given to the exporters by banks after the actual shipment of the goods. The necessity for post shipment credit arises because the exporters who have shipped goods have to wait for a long time for receiving payment from the overseas buyers; the period of waiting depends on the terms of payment. The exporters need funds to carry on his normal export activities. IFICBL are the natural source to seek the finance for these activities. IFICBL generally finance the exporters at post shipment stage on verification of the credit worthiness and financial soundness of both the buyers and the sellers. Import Finance Trade:International trade takes place between sellers and buyers located in different countries. The parties to a trade transaction are not always known to each other. Even if they are known to each other the seller may not have full confidence in the credit worthiness of the buyer or the buyer may not like to pay before he actually receives the goods. In Letter of Credit worthiness is substitute for the credit worthiness of the importer. Under a banker’s Letter of Credit, the issuing bank (IFICBL) gives a written undertaking on behalf of the buyer that the bank will honor the obligation of payment or acceptance as the case may be, on presentation of stipulated documents.Importer bank issue the Letter of Credit at a margin prescribed by the Government. This margin varies to commodities to commodities. According to the Govt. instruction bank does not generally issue the Letter of Credit less than at 50% margin. IFICBL follows this margin prescribed by Government strictly. These are: †¢ The L/C should irrecoverable, unrestricted valid and preferably confirmed. †¢ The credit worthiness of the importer and his import performance are to be invariably ascertained. Similarly, credit worthiness and solvency of the buyer and seller also be enquired through foreign correspondence. †¢ In case of pledge â€Å"Banks affective Control’ should maintained. The exporter documents should be carefully scrutinized at the time of negotiation to ensure with the terms of the L/C. Procedure for sanction of Post-shipment credit under document Negotiation: The usual method of providing finance at the post-shipment stage is negotiation under Letter of Credit. In this regard before scanting credit of undertaking IFICBL, carefully verified following points for negotiation documents: †¢ The documents should present for negotiation before expiry of the credit. In the period of negotiation before is specially mention in the documents should not be negotiated beyond that period. †¢ The amount of the bill should not exceed the amount authorized in the L/C. All the documents asked for in the L/C have been submitted and those are prima-facie in order. Operation Activities for Import Section: Officer in L/C opening desk process L/C application. Proposal for opining L/C (Cash) being prepared by the officers: For Internal Approval: It is made for those importers who are enjoying L/C limit facility for a period of 12 months approval by the Head Office. For Head Office Approval: Proposal made on case to case basis in a detail format for, those importers during their initial 3 to 6 months period. Satisfactory performance in the account during the period upgrade them to avail full fledge credit line on 12 months basis. Obtain charge documents: †¢ Negotiating with the importer margin fixation. Negotiate with the importer for fixation for made of retirement of bills/PAD. †¢ Obtain information about the market ability and gathering local price level of the Commodity to be imported. Next Steps are to open the letter of credit: †¢ An L/C number is provided. †¢ Opening charge or commission recovered. †¢ Charge and Liability vouchers are passed. †¢ Preparation and checking of L/C body in accordance with pro-forma invoice (PI) or indent. Sanctioning L/C by two authorized officers and giving go ahead for the transmission of the terms. Prepare credit line proposals for importers: †¢ Lodge the documents in P. A. D. †¢ Notify the importer to release the original documents. Arrange the retirement of the original documents after recovery of dues in cash against related P. A. D. †¢ Issue shipping guarantee against non-negotiable copy documents. Retirements of P. A. D are also made through LIM: †¢ If arrangement was made while opening L/C. †¢ When importers fail cash retirement commitment and bank considered his or their request. †¢ When situation compels so due to total non-cooperation of the importer. This situation usually doesn’t occur but at the same time can not be totally rules out when importer remain at total detachment with IFICBL. Some products of Import Section are: †¢ LTR (Loan Against Trust Receipt) †¢ Lim (Loan Against Imported Merchandise) †¢ L/C opening RemittanceRemittance is another important sector of the IFICBL from where it earns a lot of foreign exchange every year. Remittance means to send or transfer money or money worth from one place to another. In case the bank as the media to transfer or remit the money. Against the service it charges some commission from the client. Types of Remittance: Generally the process of remittance can be divided into major categories: †¢ Inward Remittance †¢ Outward Remittance Inward Remittance Inward Remittance deals with funds from overseas. The remittance can be performed in two ways: †¢ Cash remittance through TT (Telegraphic Transfer)/ DD (Demand Draft) †¢ Remittance due to export. Functions of Foreign Remittance Section Selling Selling of traveler’s cheques to Bangladesh travelers. †¢ Selling cash foreign currency in the form of draft and ties to Bangladeshi students for education abroad. †¢ Selling of foreign currency to Bangladeshi for medical expenses. †¢ Selling of foreign exchange to non resident stock investor. Buying †¢ Buying of International currency from foreigner and Bangladeshi. †¢ Buying cash foreign currency from foreigner and Bangladesh. †¢ Buying of draft from Bangladeshi. †¢ Buying of International currency from FC account of Bangladeshis individual as well as from exporters. †¢ Buying of International currency from non resident investing in shares and stocks of Bangladesh. OthersOther foreign exchange operation of IFICBL includes FC A/C Such as Non resident foreign currency Deposits (NFCD), Non Resident Bangladeshi’s in initial Public offer etc. These schemes are only for the non resident Bangladeshi. These are maintained by the foreign currency. These schemes are very much profitable both for IFICBL and non Resident Bangladeshi. Additional Services Foreign exchange for travel, medical treatment, education abroad When anyone travel abroad for business, holiday or any other purpose they can obtain their foreign currency and travelers cheques permissible under Government regulation without any hassle from any branches. Student File- Foreign Exchange Remittance for education abroadThe Bangladesh Government allows remittance of tuition fees and living expenses for Bangladeshi students undertaking studies abroad. Outgoing student intending to avail this facility require opening a file with the authorized dealers. Branches have dedicated personnel to assist students in this regard. For efficient handing of the periodic remittance under the schemes customer can fully rely. Money Gram Business of IFIC Bank Ltd Money Gram, one of the innovative products of IFIC bank, has been functioning satisfactory and rendering prompt and efficient services to the wage earners. Money Gram payment System Inc is a non back provider of electronic money transfer service. Money Gram is providing its customers a service of an unsurpassed quality and superior value. Money Gram has over 25000 Agent locations throughout the world. Persons anywhere require transferring cash quickly, reliably, conveniently and at attractive prices to more than 115 countries can depends Money Gram agents for the service. IFIC bank makers and inquiry on the Money Gram computer network to obtain authorization to pay recipient ; recipient receives the fund. At IFICBL they provided the recipients immediate attention and due care. They have made it a point to pay for the IFICBL branches at his convenience for payment recipient within minutes. The recipients need not require having a bank account. We do not levy extra charge. We give a better exchange rate to the recipient.Money Gram Policies ; Producers: †¢ Record keeping Requirements †¢ Money Transfer Send transaction †¢ Money Transfer Receive transaction †¢ Verification of customer’s identity †¢ Send ; Receive form Assets and Liabilities of IFIC Bank: Liabilities: claim on the assets of a Bank or individual-excluding ownership equity. Characteristics: (1) It represents a transfer of assets or services at a specified or determinable date. (2) The firm or individual has little or no discretion to avoid the transfer. (3) The event causing the obligation has already occurred. Paid up capital: The total amount of shareholder capital that has been paid in full by shareholders.Paid-up capital is essentially the portion of authorized stock that the company has issued and received payment for. Paid up capital is the actual amount of capital in money that bank and other directors have contributed towards the company as opposed to the authorized capital of the company. |Year |Amount in Taka | |2005 |406386000 | |2006 |406386000 | |2007 1670715700 | |2008 |1341431400 | |2009 |1743860800 | [pic] The Paid-up Capital is that the amount of money that going to be contributed to setup a new company. When Bank increases their paid up capital, capital asset also increase. in this graph we can see IFIC Bank increase their paid up capital in 2007,2008 and 2009. Reserve: Bank Companies Act, 1991 requires the bank to transfer from its current year’s profit before tax to reserve until such reserve together with share premium account equals to its paid up capital. IFIC Bank transferred 18% of its current year’s Profit before Tax (PBT) to this reserve. |Year |Amount In Tk. |2005 |656632529 | |2006 |798348147 | |2007 |1105105243 | |2008 |1294201621 | |2009 |1725316081 | [pic] Deposits Account increases day by day in IFIC Bank Ltd. so they need to reserve more fund against this type of deposits. In this graph we can see that their reserve constantly increases 2005 to 2009. in 2009 they need more Reserve fund compared other years. Borrowed Fund: Borrowed funds include call borrowing, term borrowings and re-finance from different commercial banks and central bank. Year |Amount In Tk | |2005 |1197380691 | |2006 |291294330 | |2007 |1105237195 | |2008 |203530016 | |2009 |1250000000 | [pic] In This Graph we can see that IFIC Bank Borrowed more in 2005, 2007 and 2009 that’s means IFIC Bank investment opportunities is high in this three years. In this three year also increase their Financial Leverage. Deposits and Other Account: Deposits are recognized when the Bank enters into contractual provisions of the arrangements with the counterparties, which is generally on trade date and initially measured at the consideration received. |Year |Amount in Tk. |2005 |22505172064 | |2006 |28620913537 | |2007 |29900052990 | |2008 |36092169540 | |2009 |50017960808 | pic] In this graph we can see that the IFIC Bank Deposits increase day by day. That’s means IFIC Bank increase their Interest rate, so the people Deposits more and more money. From the political view in our country investment opportunities is not enough. So the people don’t have more investment opportunities and they deposit their money which bank gives more interest. Other Liabilities: Exporters F. C account, accrued expenses provision for classified loans and advance dividend payable, provision for taxation, bonus payable, Loan pool , Oman international Exchange, Export development fund and many more liabilities for IFIC bank are include here. Year |Amount In Tk | |2005 |5137405111 | |2006 |5533186610 | |2007 |6295077124 | |2008 |6237046589 | |2009 |7436447934 | [pic] the amount of income taxes, interest on nondeposit liabilities and other expenses accrued through charges to expense during the current or prior periods, but not yet paid, Dividends declared but not yet payable — Include the amount of cash dividends declared on limited-life preferred, perpetual preferred, and common stock on or before the report date but not payable. We can see the IFIC Bank other liabilities are much, so they need this type of liabilities.Assets of IFIC Bank LTd: Most of the assets of banks can be grouped into 4 categories: cash, securities, loans, and other assets, which includes real p roperty, such as equipment, buildings, land, and repossessed collateral from borrowers who have defaulted. IFIC Bank assets are in the form of loans with a large portion in securities, since these are the main sources of income for IFIC bank. Cash: Cash is obviously an asset to a bank. A bank must maintain a certain level of cash compared to its liabilities to maintain solvency. A bank must hold some cash as reserves they have to keep some cash to conduct business which includes being able to meet withdrawal requests and to meet reserve requirements that are set by the Bangladesh Bank to help prevent insolvency. | Year |Amount in Tk. |2005 |2146612028 | |2006 |2646787635 | |2007 |3593513841 | |2008 |3340418678 | |2009 |4633980079 | [pic] Cash is an expensive asset in terms of opportunity cost because it earns no interest—therefore; banks try to minimize the amount of cash that they hold. In this graph we can see the IFIC Bank create opportunity cost in 2009 compare in other years, because they keep more cash in 2009. Balance with other bank and financial institution: Balance with other bank is another asset of a bank. IFIC Bank Ltd includes Balance with other bank in Bangladesh and balance with other banks outside Bangladesh. |Year |Amount in Tk. |2005 |1001052348 | |2006 |1943654935 | |2007 |2359077889 | |2008 |1919068652 | |2009 |8155648754 | [pic] In this graph we can see in 2009 Balance with other bank is more compared with other years. in 2009 85% Balance with other bank in Bangladesh and rest of the percentage in Balance with other bank outside Bangladesh. Money at call on short notice: One of the assets that appears in the balance sheet of a bank. It includes funds lent to discount houses, money brokers, the stock exchange, bullion brokers, corporate customers, and increasingly to other banks. ‘At call’ money is repayable on demand, whereas ‘short notice’ money implies that notice of repayment of up to 14 days will be given. After cash, Year |Amount in Tk | |2005 |990000000 | |2006 |1150000000 | |2007 |0 | |2008 |70000000 | |2009 |200000000 | [pic] Money at call and short notice are the banks’ most liquid assets.They are usually interest-earning secured loans IFIC Bank provided more in 2005 and 2006 but their importance lies in providing the banks with an opportunity to use their surplus funds and to adjust their cash and liquidity requirements IFIC not provided Money at call and short notice in 2007. in 2008 and 2009 they provided very small amount Money at call on short notice. Investment: Investments are initially recognized at cost, including acquisition charges associated with the investment. Premiums are amortized and discount accredited, using the effective or historical yield method. Accounting treatment of government treasury securities and bonds (categorized as HFT or/and HTM) is made following Bangladesh Bank DOS Circular Letter No. 05, dated 26 May 2008. Year |Amount in Tk | |2005 |2971466388 | |2006 |3545155700 | |2007 |3855691124 | |2008 |5229884252 | 2009 |9082951144 | [pic] Banks don’t like putting their assets into fixed-income securities, because the yield isn’t that great. IFIC Bank invests more in 2009 compare in other years. In 2009 IFIC Bank Ltd investment 86. 40% in Government securities which is more than compare in other years. However, investment-grade securities are liquid, and they have higher yields than cash, so it’s always prudent for a bank to keep securities on hand in case they need to free up some liquidity. Loans and Advances: Loans represent the majority of a bank’s assets. A bank can typically earn a higher interest rate on loans than on securities, roughly 6%-8%. Year |Amount | |2005 |21694895612 | |2006 |25490660668 | |2007 |28361456225 | |2008 |33018385382 | |2009 |37793886723 | IFIC Bank Ltd gives correspondingly more Loans and advances. So they earn more interest in constantly. This is very good for IFIC bank. Loans, however, come with risk. If the bank makes bad loans to consumers or businesses, the bank will take a hit when those loans aren’t repaid. Fixed Assets: A long-term, tangible asset held for business use and not expected to be converted to cash in the current or upcoming fiscal year, such as manufacturing equipment, real estate, and furniture. Also called plant. year |Amount | |2005 |192758868 | |2006 |317439052 | |2007 |383075972 | |2008 |511452828 | |2009 |616262074 | [pic] IFIC Bank fixed assets comparatively increase. In 2009 they buy more fixed assets compared in other years. Percentage change in fixed cost sometimes percentage change for EBIT.If useful lives of assets do not differ significantly as it was previously estimated, bank management does not consider revaluing its assets by the meantime. Other Assets: Other assets, including property and equipment, represent only a small fraction of assets. A bank can generate large revenues with very few hard assets. Compare this to some other companies, where plant, property, and equipment (PPE) is a major asset. | Year |Amount | |2005 |1194269731 | 2006 |986779144 | |2007 |1361334367 | |2008 |1640263398 | |2009 |2419136205 | [pic] Other assets include stationery and stamps, suspense account, Revaluation A/C FDBP, Revaluation A/C IDBP and Accounts receivable others. We can see that in this graph 2009 and 2008 other assets are very good for IFIC Bank Ltd. Recommendation The overall scene says that The IFIC bank has the strong efficient management in loan management. Although there a chance to default loan and some non performing loan the bank always prefer to utilize their deposit fund in the loan sector than in investment sector.The IFIC bank always takes necessary steps by analyzing the credit approaches thus the bank does not need to face the loan default problem. But the efficiency also affected by economic condition of the country beside the political situation. The IFIC Bank is always promising satisfied its customer. Conclusion Today’s business is very competitive and complex. To survive in the related sector the organization need competitive people and has to take some effective policy. Every country must given a plan for important role in economic activities Bangladesh is no exception of that. Commercial Bank’s financial development and economic development are closely related. That’s why the private commercial banks are playing significant role in this regard.The Bank should have to up a new standard in financing in the industrial, Trade and foreign exchange business. Its various deposit and credit products should have also attracted the clients- both corporate and individuals who feel comfort in doing business with the Bank. The bank should take initiative effort to accelerate the non interest income performance for avoiding negative non net interest income. Reference www. ificbankbd. com Annual Report 2006 Annual Report 2008 Annual Report 2009 ———————– Draft Export Proceed Mail Transfer Telegraphic Transfer Bills Travelers Cheque Inward Remittance Chart: -Modes of Inward Remittance [pic] How to cite IFIC Bank Ltd.: Banking Activities and Asset Liabilities, Papers