Lc ftu hcmc best finance award
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This document summarizes the finance policies and procedures of the LC FTU HCMC local committee of AIESEC. It evaluates their performance in five key areas: 1) finance policy and procedures, where they achieved an 11/12 score; 2) reporting, where they achieved a 10/18 score; 3) auditing, where they achieved an 8/18 score; 4) financial sustainability metrics; and 5) other initiatives including an online accounting project. The document provides links to additional financial documents and reports stored on Dropbox.
Lc ftu hcmc best finance award
- 1. LC FTU HCMC -BEST FINANCE AWARD Term 14 - 15
- 2. 1. FINANCE POLICY AND PROCEDURES
- 3. Criteria Score Achieve Note Ratified LC financial policy 4 4 - There has been 2 Legislative Meetings conducted on 20th Oct, 2013 and 11th May, 2014 - 2 updated emails were sent within 1 week later Clear and concise procedures 5 0 The documents were stored, however, they were not updated to myaiesec.net 100% LC member education 4 2 Each project is designed specific training materials during training campaign
- 6. Criteria Score Achieve Explain Monthly budget vs actual report Monthly Balance sheet 24 10 Number of report: 5 Quarterly balance sheet & income statements released to LC members/MCP/ BoA 12 1 Number of report: 1 HTTPS://WWW.DROPBOX.COM/HOME/LC%20FTU%20HCMC%20- %20BEST%20FINANCE%20AWARD/REPORTING%20-%206%20POINTS
- 7. 3. AUDITING
- 8. Criteria Score Achieve Explain Audit meetings 8 2 - There have been 1 auditing between VPF LC HCM and VPF LC FTU Improvement in internal process 5 1 1 meeting minutes recorded and put in Dropbox of MC Finance 13-14 Accuracy in accounting system 5 5 According to last audit, there was no error in auditing of LC FTU HCMC HTTPS://WWW.DROPBOX.COM/HOME/AIESEC%20IN%20VIETNAM%20FIN ANCE%2013-14/AUDITING/AUGUST%20AUDITING
- 10. DATA AFTER BENCHMARKING Criteria Explain DSO 79.5 TOTAL ASSEST TURNOVER 1.45 DEBT RATIO 0.44 PROFIT MARGIN ON SALES 0.24 RETURN ON TOTAL ASSET 0.47 RETURN ON INVESTED CAPITAL This ratio could be calculated because no capital is invested in LC HTTPS://WWW.DROPBOX.COM/HOME/LC%20FTU%20HCMC%20- %20BEST%20FINANCE%20AWARD/FINANCIAL%20SUSTANABILITY
- 11. 5. OTHERS
- 12. Criteria Score Achieve Explain Develop finance in SU (if any by coaching) 5/ each O N/A Innovative functional initiatives 5/ each 5 Online accounting project Contribute to National initiatives (framework, model, policy, procedures): Pricing research 10 Assessed by MC HTTPS://WWW.DROPBOX.COM/HOME/LC%20FTU%20HCMC%20- %20BEST%20FINANCE%20AWARD/OTHERS%20-