Bank

Executive Summary The Co-operative Bank Is New Sealant’s only bank that Is owned by its customers. Formerly simply a Building Society, the bank Is now looking to grow its customer base as a fully registered bank through a variety of avenues Including appealing to the tertiary student market. This report focuses on the Integrated marketing communications needed for accurately targeting the tertiary market. Firstly, It outlines a situation analysis including a PEST analysis, a competitor analysis, and the target market and the positioning of the Co-operative Bank with regards to its competitors.

The communication strategy looks closely into the banks current communications offerings. This analysis focuses on how the companies message combines with its with the imagery used in its advertising. The media strategy outlines how the company has used awareness, universal and emotion strategies in its communications to target the tertiary market. Objectives are then outlined to provide scope for the banks future MIMIC activities. Finally, the report provides recommendations (Including personal selling, promotion and public relations) and improvements to help the bank reach Its objectives In the next 12 months.

As technology is always changing it is important that banks are continuing to update and make changes to their digital platforms to continue to be competitive in the market. 1. 2. 4 Environment -Environmental factors do not have a massive impact over the Co-operative bank forever climate change have some effect on the success of New Zealand businesses abilities to save and service loans. Particularly as New Zealand is an agricultural based society and climate change disrupts farming processes. 2 Competitor Analysis In the tertiary banking sector there are 5 main players that the Bank must compete with.

Each has their own drawer however the reality is the base package each bank offers is very similar and in terms of costs, the banks offer students free or relatively free banking – See Appendix 1. On top of this each bank differentiates itself by offering extra services that are enticing to the student lifestyle. 2. 1 ASP ASP, as well as a relatively free base package, offers students free fries at McDonald’s every time they use their card. This “gimmick” is attractive to students as it means offer students a large overdraft and a txt when funds are running low. 2. ANZA Ann.’s tertiary package is perhaps the least “gimmicky’ of the big banks. They offer accessible branches and Tam’s on campus as they are aware a student is often time poor. 2. 3 BENZ Ban’s Younger is known to be extremely innovative and in tune with a tertiary audience’s preference for good, simple web design. Their point of difference is an industry leading web application that makes handling finances, something that student have great difficulty doing, every simple. 2. 4 Westward Wastepaper’s Student Pace, historically, has used gimmicks such as a free $25 upon sign up and a free pizza to engage the tertiary audience to bank with them.

In the long term they also offer a “save and win” scheme that entices students to bank with them to win money on the money they choose to save. 2. 5 Kickback Kickback has perhaps the most comprehensive banking package. Their extra services include software to help manage your money, no commission currency conversion, free use of ANZA Tams on campus and free txt banking. This shows they are very much in tune with the requirements of being a student in New Zealand which supports Kickbacks main draw card of the bank being a New Zealand owned bank. 2. Co-operative Bank The Co-operative Banks student package is by contrast the least comprehensive. They offer a top interest rate of 5% however their main drawer, even for students, is still the fact that they are not Just New Zealand owned like Kickback but owned by the New Slanderer that bank with them. Growth and Maturity of the Industry New Zealand banks have enjoyed strong growth in lending since the 2008 global downturn. Profits however, are down due to “increasing regulatory pressures and strong competition in the lending market” (KEMP, 2013). Operational Revenue and Profitability At the end of 2013 financial year, the bank recorded profits before rebate at $mm (The Co-operative Bank, 2013). $1 m of this was distributed to customers. As at 31st December 2013 operating revenue reached $4. Mm (The Co-operative Bank, 2013). 5 Strategic Goals The Co-operative Bank has an overall strategic focus on “achieving long-term refillable growth, based on co-operative principles (The Co-operative Bank, 2013). 6 Target Marketing The Co-operative Bank targets those in the tertiary segment who are motivated by “good values”.

These students, generally 18-25, will be those who are wary of the other big banks and the values they stand for. They will consist of students who are above the other banks “gimmicks” and would rather see their money buying some “goodness” rather than get free fries, for example, from a controversial multinational. They will have a solid “student” lifestyle with a low income, low outgoings and will nearly not have any dependents. 7 Market Positioning competitors try to outdo each other with clever marketing and competitive rates they are, compared to other industries, barely distinguishable from each other.

As shown in Figure 1, the Co-operative Bank occupies a position that is relatively separated from its competitors in terms of perceived cost and on a values based analysis. Figure 1 – Positioning of New Zealand Banks This position clearly demonstrates to their target audience that they are set apart from their competitors as an alternative to banking in system where banks are driven y profits for their (often overseas) investors rather than by the values of and profits for their New Zealand owners/customers.

Section 2 8 Communication Strategy Since the banks rebind in 2012 the bank has focused its communications on improving low awareness. It is spearheaded by the message “driven by your prosperity, not our profit”; this focus will help the bank achieve its goal to double its customers within 5 years (Stopper’s, 2014). The key message the bank wants to convey to its target audience is that it is a values-driven bank that plays fair in a banking landscape that is thought of as the opposite.

They use a brand image strategy to convey that although they are able to take calculated risks for the benefit of their customer-owners, they want their audience to know they want their activities to be transparent and “above the line”. The main symbol used by the bank is the infinity sign that consists of the 2 g’s in Co-operative Bank, known as the “prosperity loop”- See figure 2. The loop is conveniently extracted from the banks name and symbolizes its goal of creating prosperity, not profit, between the bank and its customer-owners with the benefits flowing between the two entities.

This symbol associates potential customers with the brand and its objectives of “being about mutual benefit and true sustainability. (The Co-operative Bank, 2014, p. 2) Figure 2- The Prosperity Loop The loop is replicated though all forms of media advertising further insisting to its customers an ongoing sense of mutuality and support. In print media, the loop headline type treatment overlays both the heads of customers or their children and links them to the banks message, connecting a potential customer’s emotion to the advertisement.

The loop could so be seen to symbolism a thought bubble, further personifying the banks message. See figure 3 Figure 3- Print Advertisement This advertisement takes queues from thought leadership marketing as it shows a young, seemingly wealthy man thinking positively about the banks differentiation strategy. As this man represents a lifestyle students aspire to participate in and the target market can now link him to the Co-operative bank. In theory, students will be more likely to think positively about, and possibly Join the bank.

This links back to the banks goal of doubling its customer base in five years and helps the bank on their way to achieve it. Another brand association used is the companies color palette. The palette is distinctively fresh and focuses on a bright green color – see figure 4. This associates the brand with being fresh and distinctive as well as with growth. Natural context. This is important to the brands image as it reflects on New Slanderer emotions as a “clean, green” nation and may help the target market to associate with the bank as an extension of their patriotism.

Also the mix of the color green as a symbol of natural growth and money is a reflection of the banks views on sustainable banking. Further, it associates this idea to the Co-operative Banks brand ND reinforces to tertiary students that their principles will bring “growth” to their “money’ in a sustainable way. This is particularly relevant to the target market who currently have low incomes but potential to growth their worth in the next few years. For them it means the bank is on their side and wants to work with them to grow their money in a sustainable way.

Figure 4- Color Palette 9 Media Strategy and Appropriation The company, carrying out its awareness strategy for growth, used a broad mix of media mediums including a focus on print but also consisting of a television spot, audio advertising, and limited social media (Backbone, Linked in and Youth) to target a wide range of possible customers (Stopper’s, 2014). The campaign is centered on presenting the banks differentiation from other banks as a New Zealand owned bank and the fact it is 100% owned by its customers.

Although there was no media directly targeting tertiary students, the Co-operative Banks mix of mediums will have some effect on this target market. Using a universal strategy, as in this case, the bank reaches a large amount of potential customers. It also provides the bank with economies of scale. As a small bank, although not ideal, this strategy is relatively appropriate as, there is limited budget for large scale advertising. The bank has opted to pull resources together rather than loose budget to smaller and perhaps less successful strategies.

This is at the cost of targeting specific demographics, such as the tertiary target market, with media strategies tailored to their particular motivations but allows the bank to target all New Slanderer who feel strongly about banking with a New Zealand bank that shares profits with its customers. The content of the advertising draws on emotional strategy and uses a lot of patriotic imagery ouch as beach scenes, trout fishing, and office and cafe culture.

These are scenes of New Zealand culture that rouse patriotism in most New Slanderer and this helps the bank not only reach people who will be interested in how the bank functions due to their patriotism but inform others of the benefits of Joining the bank. This is appropriate for the bank as it is harnessing current events (such as the class action against fees and the 2008 global downturn that have caused a cultural shift in New Zealand society in that people are more skeptical of banks) and building on the emotions they feel .

It is therefore prudent for the bank to target the majority of society as the majority of society will be motivated by this emotion to Join the bank. 10 Objectives 1. Increase top-of-mind awareness level of the Co-operative bank within the tertiary market by 50% within the next 12 months 2. Increase knowledge within the tertiary market about the benefit of “owning” the bank they are banking with by 50% within the Bank within the next 12 months. 1 Improvements The weakness of the Banks current MIMIC plan lies in the fact that it has not tailored the plan to target specific groups such as the tertiary market. This suggests that the relationship between The Co-operative Bank and its tertiary customers is not as connected as it could be. To improve this, the bank does not necessarily have to change its message because as outlined prior, the patriotic and anti-status quo message used by its current offering will appeal to this market and also make the most of the banks industry-relative limited budget.

The bank instead should work on making these messages more accessible to the tertiary market in order to improve the communication lines of the banks already strong message. Relationship Reach Include tertiary market specific imagery in print advertising There is a lack of tertiary specific imagery used by creative in the print media. There are a variety of children and young professionals and although some students may see these people as aspirations, they may also feel excluded and therefore disconnected from the banks message as the images are unrepeatable to them at their current age.

Create an active twitter account that backs up the banks brand image but also feels like it is maintained by a tertiary student. It will post breaking banking news and intelligently debate key players in the banking industry. Create a presence on campus by locating brochures at campus student finance offices Make brochures available that provides step by step financial planning for students that is branded with Co-operative bank. The brochures will also provide information about the Co- operatives services.

The content will be so effective that campus financial planners will recommend them to students. This will increase student’s knowledge about the bank. Change billboards near tertiary institutions to have very tertiary student age appropriate creative. Add a scene to the television spot that is directly relatable to by majority of tertiary students. The advert currently has scenes that will appeal to only a select part of the target market I. E office employees and trout fishers.

Adding a tertiary related scene with strong tertiary markers will strengthen the banks relationship with students as they will feel included in their advertising. Promote banks message at campus fairs. Sponsor tertiary events 12 Promotional Mix Recommendations 12. 1 Public Relations and its community based values. Tertiary students will be selected to spend a day in the life of community organizations with a particular emphasis on organizations that purport the interests of tertiary aged students such as canteen and be followed by a documentary team..

The outcome will be a documentary series posted on Community Loop’s Youth. These videos will expect to be picked up by local media and be interesting enough for students to want to share on Youth. 12. 2 Personal Selling At campus events, the bank would loan its employees to event to handle the financial aspect of the event and at the same time inform students of the banks offerings- supporting and promoting the banks message that it works within the community in a positive way.

For example, at the “Nun Games”, Co-operative Bank employees in “community loop” uniform will handle ticket processing at the gate and have the “community loop” marquee providing shelter for students. Employees will hold conversations with students about the banks offerings and message. Such a presence evokes brand awareness within in the student community and at the same time, shows off the banks tertiary product. 12. 3 Sales Promotion The bank stands out among other banks as it does not offer students “gimmicky’ promotions with its package – See appendix 1 .

There is an opportunity here for the Ann. To offer a promotion to students that does not seem as lightweight and also gain attention of the students who are likely to switch to the bank because of its message. The promotion will support the banks community centered message and feature a system wherein if you sign up you get a free stationary pack (bio-degradable and from sustainable sources) and a child from a low decide school in the local area also gets a pack.

The stationary will feature the banks “Community Loop” logo. 13 Budget 13. 1 Objective-and-Task Method The bank would use an objective and task method to specify the role advertising will lay for the Co-operative brand and, the budget has been set accordingly. This method has been chosen as it allows the bank to focus on the objectives based on the needs of the bank and therefore reinforce the banks strategy rather than the needs of other factors such as what competitors are doing or how much they can afford.

Literature Review

Lease Financing

Lease is a contract between the owner and the user of assets for a certain time period during which the second party uses an asset in exchange of making periodic rental payments to the first party without purchasing it. Under lease financing, the lessee regularly pays the fixed lease rent over a period of time at the beginning or at the end of a month, 3 months, 6 months or a year. At the end of the lease contract the asset reverts to the real owner. However, in case of long-term lease contracts, the lessee is generally given the option to buy the leased asset or renew the lease contract.

The three major types of leases are the operating lease, financial/capital lease and the direct financing lease. The operating lease is a short-term lease contract where the lessor bears all operating and repairing costs of the asset and the lessee pays periodic rental payments to the lessor, and where the lease is cancelable, and there is no bargain purchase option. Financial/capital lease is a long-term lease contract where the lessee bears all operating, repairing and maintenance costs, and makes periodic rental payments to the lessor.

The lease is not cancelable and the lessee has the option for bargain purchase or renewal of lease contract at the end of the original lease period. In a direct financing lease, the lessor leases the asset by manufacturing or by purchasing from the manufacturer to the lessee directly and the lessee makes regular rental payments to the lessor. The lessor holds the ownership of the asset until the end of the lease period and the lessee holds the possession of the asset. In addition to these major types, there are some other types of lease such as sale and lease and leveraged lease.

Legally, a leasing company is defined as one having the business of hiring plants or equipment or of financing their hire by others. The International Finance Corporation promotes leasing as a method of financing industrial development in the developing countries as a part of its capital market development strategies.

International Financial Reporting Standards

International Financial Reporting Standards (IFRS) are Standards, Interpretations and the Framework adopted by the International Accounting Standards Board (IASB).

Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new IASB took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and SICs. The IASB has continued to develop standards calling the new standards IFRS. Structure of IFRS:

• IFRS are considered a “principles based” set of standards in that they establish broad rules as well as dictating specific treatments. International Financial Reporting Standards comprise:
• International Financial Reporting Standards (IFRS) – standards issued after 2001
• International Accounting Standards (IAS) – standards issued before 2001
• Interpretations originated from the International Financial Reporting Interpretations Committee (IFRIC) – issued after 2001
• Standing Interpretations Committee (SIC) – issued before 2001
• Requirements of IFRS: IFRS financial statements consist of (IAS1. 8):

Statement of Financial Position

• a comprehensive income statement
• either a statement of changes in equity (SOCE) or a statement of recognised income or expense (“SORIE”)
• a cash flow statement or statement of cash flows
• notes, including a summary of the significant accounting policies
• Comparative information is provided for the previous reporting period (IAS 1. 36).

An entity preparing IFRS accounts for the first time must apply IFRS in full for the current and comparative period although there are transitional exemptions (IFRS1. 7). On 6 September 2007, the IASB issued a revised IAS 1 Presentation of Financial Statements. The main changes from the previous version are to require that an entity must:

• Present all non-owner changes in equity (that is, ‘comprehensive income’ ) either in one statement of comprehensive income or in two statements (a separate income statement and a statement of comprehensive income). Components of comprehensive income may not be presented in the statement of changes in equity.
• present a statement of financial position (balance sheet) as at the beginning of the earliest comparative period in a complete set of financial statements when the entity applies an accounting
• ‘balance sheet’ will become ‘statement of financial position’
• ‘income statement’ will become ‘statement of comprehensive income’
• ‘Cash flow statement’ will become ‘statement of cash flows’.

Rules applicable in Bangladesh

1. In Bangladesh, Financial institutions have to follow the rules and regulations issued by the Securities and Exchange Commission. According to the “Securities and Exchange Commission (Issue of Capital) Rules, 2001” following are the required documents and process of submission of financial reports for approval by the SEC:
2. The company to which consent to the issue of capital is accorded shall complete audit of its financial statements and, hold its annual general meeting within such period as may be specified by the Commission at the time of according the consent.
3. The said company shall submit a copy of such audited financial statements and a copy of its annual report and the minutes of its annual general meeting within fourteen days of the completion of the audit or, as the case may be, holding of the annual general meeting.
4. The Commission may, on application and on good cause shown, extend the time for auditing the financial statements or submission of the financial statements to the Commission, as the case may be.

The said company shall furnish the Commission the following information, along with the supporting documents and evidence, namely:

• change of registered address;
• change of directors;
• appointment of managing director;
• change of business or opening of new business;
• any material change that affects the affairs of the company.

Lease Financing in Bangladesh

Lease financing was first introduced in Bangladesh in the early 1980s. Industrial Development Leasing Company of Bangladesh Ltd. (IDLC), the first leasing company of the country, was established in 1986 under the regulatory framework of Bangladesh bank. It was a joint venture of the Industrial Promotion and Development Company of Bangladesh Ltd. (IPDC), International Finance Corporation, and Korea Development Leasing Corporation.

Another leasing firm, the united leasing company Ltd. started its operations in 1989. The number of leasing companies grew quickly after 1994 and by the year 2000, rose to 16. The leasing business became competitive with the increase in the number of companies and wider distribution of their market share. There are, however, 6 other companies conducting leasing business in the country, although they do not use the word leasing in their names. In terms of money value, the leasing business in Bangladesh increased from Tk 41. 44 million in 1988 to Tk 3. 16 billion in 2000.

The leasing companies now operating in the country are Industrial Development Leasing Company of Bangladesh, United Leasing Company, GSP Finance Company (Bangladesh), Uttara Finance and Investments, Bay Leasing and Investment, Phoenix Leasing Company, Prime Finance and Investment, International Leasing and Financial Services, Union Capital, Vanik Bangladesh, Peoples Leasing and Financial Services, Bangladesh Industrial Finance Company, UAE-Bangladesh Investment Company, Bangladesh Finance and Investment Company, and First Lease International. Lease financing, as organized in Bangladesh, operates with the following objectives:

1. to assist the development and promotion of productive enterprises by providing equipment lease financing and related services;
2. to assist in balancing, modernization, replacement and expansion of existing enterprises;
3. to extend financial support to small and medium scale enterprises;
4. to provide finance for various agriculture equipment;
5. To activate the capital market by operating as managers to the issue, underwriters, or portfolio managers.

The functions of a lease business include lease financing, short-term financing, house building financing, and merchant banking and corporate financing.

In this last group of functions, the leasing business in Bangladesh moved away from regular leasing activities and is now involved in stock-market related activities such as issue management, underwriting, trust management, private placement, portfolio management, and mutual fund operation. Broad capital market operations of the lease financing institutions include bridge financing, corporate counseling, mergers and acquisition, capital restructuring, financial engineering, and lease syndication.

Prominent among the sectors of the economy that now receive lease financing services are textiles, apparels and accessories, transport, construction and engineering, paper and printing, pharmaceuticals, food and beverage, chemicals, agro-based industries, telecommunications, and leather and leather products. Commercial banks and development finance institutions (DFIs) have been the traditional lending institutions in Bangladesh. In fact, the concept of lease financing is a relatively new one in the country. Initially, leasing companies had to adopt the role of educators to make Bangladeshi entrepreneurs aware of the benefits of leasing.

However, as DFIs demonstrated poor recovery and fund recycling performances, leasing got the opportunity to develop as an alternative source of funding. A few other factors also contributed to development of the leasing business in the country. For example, the commercial banks have been keener in providing trade financing and foreign exchange dealings rather than long-term loans because of the risks involved and their longer gestation period. The selection of lease proposals is relatively free from extraneous pressure and is subject to a quality level appraisal.

Under lease agreements in the private sector, projects are sanctioned and implemented expeditiously, resulting in benefits in time and cost savings. Private leasing companies also attract clients by providing relatively better services. The down payments in leasing are not high and the gestation period is low. Also, in case of lease financing, incidental costs incurred in the process of import clearing, installation, and commercial production are capitalized, which substantially reduce the initial investment. Leasing companies, however, face some problems in conducting their business in the country.

The relatively slow growth of the demand side compared to the fast growth of the lease business is one such problem. This leads many leasing companies to operate in partial capacity. The culture of loan default that prevails in the country is also a deterrent. Leasing companies often find it difficult to raise funds through short- or long-term borrowing from money and capital markets. They are hard pressed to deal with the financial assets because of the present laws of the country, which are also not fully enforceable.

Leasing business is gaining increased importance in the economy of Bangladesh with its gradual transformation from an agrarian to industrial one. The government periodically revises the trade and industrial policy to create a liberal business environment both for domestic and foreign investment. Increased investment in the energy sector as well as in power, transport, telecommunications, water and sanitation, and safe disposal of wastes is expected to bring further opportunities for leasing industries.

Overview of the Organizations

Industrial Development Leasing Company of Bangladesh

IDLC has a significant contribution to capital asset financing to private sector industries in Bangladesh. Its business focus in the early years was in the area of 3-5 years term financial leasing with particular emphasis on balancing, modernization, replacement and expansion of existing units. Driven by the demand for funds from different classes of people and the competition with other similar institutions, IDLC diversified its functional areas into other financial services including short-term finance, corporate finance and merchant banking activities.

The leasing unit of the company provides finance for capital machinery including construction equipment, marine equipment, energy generation equipment, office and office automation equipment and transport. Through this unit, the company provides micro finance under hire purchase scheme and working capital finance to the enterprises, as well as to individuals of different . profession through the this unit. The merchant banking unit is engaged in capital/stock market operations, which includes both fee and fund based services.

Specific capital market oriented activities of the company are issue management, underwriting of public issue of shares and debentures, direct trading in the securities market, bridge financing, portfolio management, and venture capital finance, etc. Up to 31 December 2000, the company acted as issue manager for 9 companies whose share value totaled at Tk 858 million, while it underwrote shares of 13 companies of a total value of Tk 156 million. The company started investment portfolio activities in November 1999 and up to 30 June 2001, it opened 49 investment accounts.

The number of lease contracts approved and executed by the company up to December 2000 was 112 with monetary value of Tk 252 million. Most lease financing activities were in large, medium, and small industrial units and a very few were in real estate, transport, and trade and commerce. Up to 31 December 2000, it provided a net amount of Tk 156. 60 million as financing to a total of 131 projects. Sources of funds of the company are shareholders’ equity and long-term liabilities, which totaled Tk 168. 49 million in 2000.

Shareholders’ equity (Tk 53. 08 million) included share capital Tk 50 million, reserves and surpluses Tk 1. 5 million and profit for the year Tk 1. 93 million. The long-term liabilities (Tk 115. 41 million) were bank loan Tk 50 million, lease/security deposits Tk 30. 38 million, term deposits Tk 12. 60 million and portfolio investment deposit Tk 22. 42 million. Major components of the company’s total assets in 2000 were its investments and advances that amounted to Tk 156. 60 million consisting of lease assets Tk 138. 09 million, advance for lease assets Tk 5. 14 million, hire purchase investment Tk 6. 70 million, and investment in shares and securities Tk 9. 34 million. The company has a board of directors with the managing director as its chief executive and in 2001, it had a total of 21 of employees.

Lanka Bangla Finance Limited

LankaBangla Finance Limited (here in after referred to as LankaBangla or the Company), a joint venture nonbanking financial institution, was incorporated in Bangladesh on 05 November 1996 as a Public Limited Company under the Companies Act, 1994 and in the name ‘Vanik Bangladesh Limited’. It started commercial operation in the year 1997 obtaining license from Bangladesh Bank under the Financial Institutions Act, 1993.

LankaBangla also obtained license from Securities and Exchange Commission vide No. MB-1. 064/98-05 to operate in the Capital Market as Merchant Banker. Subsequently it was renamed as LankaBangla Finance Limited on 27 April 2005. The Company went for public issue in 2006 and its shares are listed in Dhaka Stock Exchange and Chittagong Stock Exchange on 17 October 2006 and 31 October 2006 respectively. The Company has a subsidiary company named “LankaBangla Securities Ltd” (formerly Vanik Bangladesh Securities Limited) with an equity interest of 99. 998% (15,299,694 shares of Tk. 0 each totaling Tk. 152,996,940) in the subsidiary company. The subsidiary is a private limited company incorporated under the Companies Act, 1994. The principal activity of the subsidiary is to deal with the securities as broker in the capital market having membership no. 132 with Dhaka Stock Exchange and 91 with Chittagong Stock Exchange. The Company has another subsidiary company named “LankaBangla Asset management Company Limited” with an equity interest of 99. 998% (2,499,950 shares of Tk. 100 each totaling Tk. 24,999,500) in the subsidiary company.

With institutional shareholding structure, educated & motivated human resources, friendly working environment & dynamic corporate culture has enabled LBFL to be a diversified financial services providing institution of the country. Technical support provided by Sampath Bank Limited, Sri Lanka has been working as a catalyst to emerge LBFL as most innovative financial solution provider strictly in compliance with the rules & regulations of Bangladesh Bank. The shareholding structure of LBFL consists of Commercial Banks, Investment Bank, Corporate & prominent Industrialists from home & abroad.

Provided that the Commission may extend the said period up to such time as it may deem fit. Notwithstanding anything contained in this rule, a member shall also have his accounts audited by an auditor who is a chartered accountant appointed by the Commission, whenever such audit is required by the Commission in the public interest, and the auditor so appointed shall furnish his report to the Commission in such form and within such time as the Commission may specify: Provided that the fee for such audit and all other expenses in relation thereto shall be borne by the member concerned. 6. Maintenance of books of account and other documents by stock exchange.

Every stock exchange shall prepare and maintain, as required by sub-section (1) of section 6, such books of account and other documents as will accurately disclose a true and fair picture of the state of affairs of the stock exchange at any point of time.

The books of account and other documents referred to in sub-rule shall include

• journals (or other comparable record), cash book and any other records of original entry forming the basis of entries into any ledger;
• ledgers (or other comparable record) reflecting assets, liability, reserve capital, income and expense;
• ledgers (or other comparable record) showing the position in respect of each member as on the settlement day of the securities which the member had bought or sold since the last preceding settlement day and which had been transferred through a clearing house maintained by the stock exchange;
• daily record of quotations and transactions of the stock exchange showing the time at which each transaction took place;
• record of transactions with banks;
• record of security deposits;
• register of members;
• register of authorized clerks;
• Minute books of the meetings of members, governing body and any committee of the general body of members or of the governing body.

The books of accounts and documents specified in this rule shall be preserved for a period not less than five years.

• record of all balance of all ledger accounts in the form of trial balances to be prepared at least once at the end of the six months of every year of account;
• record of transaction with the banks;
• contract books showing details of all contracts entered into by a member with other members of the exchange or counterfoils or duplicates or memos of confirmation issued to such other members;
• duplicates or counterfoils of memos of confirmation issued to customers.

The books of accounts and other documents referred to in sub-rule (1) shall be preserved for a period of not less than five years.

All persons authorized to deal in securities on own account in any stock exchange shall furnish a report of any personal transactions in securities on settlement of each accounting period in Form “D” to the head of monitoring and surveillance department of the stock exchange.

Submission of annual report by stock exchange

The annual report relating to the affairs of a stock exchange, as required by sub-section (2) of section 6 shall be submitted to the [Commission] not less than fourteen days before the meeting of the shareholders of the stock exchange before which it is to be laid.

Every such report shall be accompanied by a copy of the balance sheet and profit and loss account of such year audited by an auditor who is a chartered accountant.

Submission of annual report by issuers

The annual report required by section 11 to be furnished by an issuer of a listed security shall include a balance sheet, profit and loss account and cash flows statement, and notes to the accounts, collectively herein after referred to as the financial statements.

The financial statements of an issuer of a listed security shall be prepared in accordance with the requirements laid down in the Schedule and the International Accounting Standards (IAS) as adopted by the Institute of Chartered Accountants of Bangladesh (ICAB) Explanation-In this sub-rule, International Accounting Standard refers to the accounting standards issued by the International Accounting Standards Committee.

The financial statements of an issuer of a listed security shall be audited by a partnership firm of chartered accountants within the meaning of Bangladesh Chartered Accountants Order (P. O. 2 of 1973) consisting of not less than two partners in practice for a minimum of seven years none of whom were associated in any way with the issuer during the auditing period (which includes holding of securities by themselves or hrough spouse or any other relatives and their employees), in accordance with the International Standards of Auditing applicable in Bangladesh and the report of the Auditors shall be in Form “B” annexed to the schedule. Provided that, notwithstanding anything contained in this sub-rule, such financial statements may also be audited by an auditor appointed by the Commission, whenever such audit is deemed by the Commission necessary in the public interest and the auditor so appointed shall furnish his report to the Commission in such form and within such time as the Commission may specify: Provided further that the fee for such audit and all other expenses in relation thereto shall be borne by the issuer concerned.

Every issuer shall furnish the annual report, together with the balance sheet and the profit and loss account referred to in sub-rule (1) to the shareholders at least fourteen days before the general meeting of the shareholders of the issuer at which the report is to be laid before them and shall simultaneously furnish a copy of such report to the stock exchange or exchanges on which its securities are listed and to the [Commission].

An annual report referred to in sub-rule (1) shall, in addition to the matters required to be meluded therein by the Ordinance, these rules or any other law for the time being in force include such other statements, reports, documents, information or explanations relating to its affairs as the Commission may, by order in writing, require from time to time. Submission of periodical report by issuer. Every issuer shall, within one month of close of the first half-year, transmit to the stock exchange in which its securities are listed, to the security holders and to the Commission half-yearly financial statements which shall be prepared in the same manner and form as the annual financial statements.

Investments, loans and advances

There shall be shown under separate sub-heads the aggregate amounts respectively of the company’s

• Investments in and loans and advances to subsidiary companies controlled firms and other associated undertakings,
• Investments in listed companies other than investments in subsidiary companies and other associated undertakings,
• Investments in un-listed companies other than investments in subsidiary companies, and other associated undertakings,
• Investments in debentures and bonds issued by a Government, Municipal Committee or other local authority,
• Investments in immovable properties
• Other investments, loans and advances.

There shall be stated under sub-head 4(A) (i) the names of the subsidiary companies, controlled firms and other associated undertaking and the nature and extent of the investment made and loans and advances given in each case, showing separately, in the case of each subsidiary company and other associated undertaking, shares of different classes and of different paid-up values, debentures, loans and advances and, in the case of each controlled firm, the amount invested as capital and the amounts of loans and advances. In the case of loans and advances, the nature of collateral security shall be stated.

A company whose principal business is lending of money may give such information in consolidated form in the balance sheet and the details about the names and the extent of investments etc. in an annexure to the balance sheet.

There shall be stated under sub-head the names of the bodies corporate (in every case with the name of the managing agent, if any) in whose shares or debentures or bonds, investments have been made and the nature and extent of the investment made in each case, showing separately, shares of different classes and of different paid-up values, nature of the debentures, e. g. whether straight, convertible or redeemable and the rate of interest etc.

A company whose principal business in lending of money may give such information in consolidated form in the balance sheet and the details about the names and the extent of investments etc. in an annexure to the balance sheet.

There shall be stated under sub-head the names of the unlisted companies (in every case with the name of the managing agent, if any) in whose shares or debentures or bonds investments have been made and the nature and extent of the investment made in each case, showing separately, shares of different classes and of different paid-up values, nature of debentures, e. g. whether straight convertible or redeemable and the rate of interest etc.

The aggregate amount of any guarantees given by the company on behalf of the directors (including managing director), managing agents, managers or other officers of the company or any of them severally or jointly with any other person shall be stated separately, and where practicable, the general nature and amount of each such contingent liability, if material, shall also be specified; and Where determinable, the capacity of the industrial until, actual production and the reasons for shortfall, if any , except in a case where the Authority upon an application agrees that such information need not be disclosed in the public interest. 13. Where there has been any change in the basis of accounting, e. g. change in the mode of valuation of the stock-in-trade, change in the method of changing depreciation, such changes, together with the effects thereof, shall be stated by way of a note.

There shall be stated, by way of a note or otherwise

1. the basis on which foreign currencies have been converted into taka;
2. the general nature of any credit facilities available to the company under any contact, other than trade credit available in the ordinary course of business, and not availed of at the date of the balance sheet.

If in the opinion of directors, any of the current assets and investments, loans and advances do not have, on realization in the ordinary course of business, a value at least equal to the amounts at which they are stated, the fact the directors are of that opinion shall be stated by way of a note. 16. Except for the balance sheet for the year ending after the date of commencement of these rules, every balance sheet shall also give the corresponding amounts at the end of the immediately preceding accounting year for all items shown in the balance sheet.

This requirement shall, in the case of companies preparing quarterly or half-yearly accounts relating to the balance sheet as on the last day of the period which ended on the corresponding date of the immediately preceding year. Where any items shown in the balance sheet or included in amounts shown therein cannot be determined with substantial accuracy, an estimated amount described as such shall be included in respect of that item together with the description of the item.

No provision with respect to the information to be given in the balance sheet shall be deemed to require the amount of any items that is of no material significance to be given separately.

Any information required to be given in respect of any of the items in the balance sheet, if it cannot be included in the balance sheet itself, be furnished in a separate schedule or schedules to be attached to, and to form part of, the balance sheet.

Requirement as to cash flows statement

The cash flows statement shall be so made out as to disclose clearly the cash flows of the company from its operating, investing and financial activities, disclosing every material feature and in particular, the following:

• the major classes of gross cash receipts and gross cash payments from operating activities, using the direct method.
• interest paid on short term borrowing;
• taxes on income paid and/or deducted at sources.
• cash payments for acquisition of fixed assets, long-term payment and referred costs, investments, loans and advances;
• cash receipts from sales of fixed assets, intangibles and other long-term assets;
• cash receipts from repayments of long-term loans and advance;
• acquisitions and disposals of subsidiaries and other business units;
• interest and dividend received.
• cash proceeds from issuing shares at par, premium and discount;
• cash proceeds from issuing debentures, loans and other short or long term borrowings;
• cash repayments of amounts borrowed;
• Interest paid on long-term borrowings;
• dividend paid.

Investing and financing transactions that do not require the use of cash or cash equivalents should be excluded from the cash flows statements. Such transactions should be disclosed elsewhere in the financial statements in a way that provides all the relevant information about these investing and financing activities.

The amount of significant cash and cash equivalents held by the Company that are not available for its use should be disclosed.

The components of cash and cash equivalents at the balance sheet date together with a reconciliation of opening and closing balances thereof should be presented.

It seems that there are no such options. If you try entering the words at the site of Bank of America direct deposit advance, you won’t find any matches. However, everything changes very quickly. Contact the support service to find out the newest info

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The most visible step towards modernizing payment system is the establishment of the Bangladesh Automated Clearing House (BACH). Bangladesh Automated Cheque Processing System (BACPS) is one of two components of BACH.

The other component of BACH is the Bangladesh Electronic Funds Transfer Network (BEFTN), which will be implemented immediately after implementing first phase of BACPS. Selected vendor has already started procuring necessary hardware and software for the BACPS solution. Detailed system specifications and operational configurations are being defined and calculated with a target of going live operation at expanded Dhaka Clearing Region with more than 1050 bank branches of 49 banks in and around the capital city during the second half of 2009.

The basic features of BACPS are the adoption of new cheque design standard with a Magnetic Ink Character Recognition (MICR) code line and the exchange of cheque-image and data instead of paper cheques for clearing and settlement purpose. Retention of the original paper cheque will become the responsibility of the presenting bank rather than the paying bank. Banks are required to make arrangement and develop infrastructures to meet the requirements of the new system. Bangladesh Bank will adopt necessary Regulation(s) and issue Operating Rules and Procedures in this regard.

Standards of cheques for BACPS have already been circulated and banks have meanwhile been advised to take steps to print uniform standardized cheques with MICR line. Appropriate information to the banks about requirements they must meet to participate in and interface with BACPS are provided below:

Point of Truncation

All scheduled banks who are members of the Dhaka Clearing House will be required to submit their list of selected branches and to finalize their “point of truncation” for submission of their outward cheque images and data to BACPS and be prepared to handle cheque image and data as part of their inward clearing operations.

Banks can choose to truncate and process their cheques at individual branch level or at a consolidation point in line with their business needs. However, it must be noted that each bank will have only one Point of Truncation for BACPS. However, those banks who will not be able to equip themselves for processing out clearing items electronically within the stipulated time, will be allowed to process their ‘out-clearings’ by using the Bangladesh Bank’s own facility at Motijheel for a limited time.

However, banks availing of ‘out-clearing’ facilities will have to acquire the capability to receive their ‘In-clearing’ items electronically. Once in-clearing data and images are delivered to a bank by BACPS, the subsequent verification and Contd… P/2 -2- processing of that information becomes the responsibility of the respective paying bank. Bangladesh Bank will supply a gateway software module, known as the Participating Bank Module (PBM) which will act as a gateway, amongst other functions, enabling the receipt or transmission of images and transaction data from and to the BACPS.

Communication Links

All scheduled banks are required to put in place two secure communication links, one with BACH Headquarter at Motijheel and another with the BACH Disaster Recovery Site (DRS) at Mirpur. The size and scalability of these links will depend on each bank’s mode of operation and daily volumes. It is preferred that banks acquire fibre optic link and another redundant communication link with BACH at Motijheel and DRS at Mirpur, Dhaka.

Participating banks are required to accomplish the following tasks within the time stipulated below : Activity Issuing MICR standard cheques and phasing out non-standard cheques used by customers

Classical architects developed their approach to design, considering its form and function for both private and civic buildings throughout the 17th century. The Examination Hall In Trinity College, Dublin, stands in Parliament Square. Designed by the architect Sir William Chambers, but realized by Christopher Myers, and completed In 1785. Entering the college through the classical portico of the West Front of Trinity College, one emerges into a beautiful, elegant and enormous space consisting of two squares, Parliament Square, a cobblestones quadrangle, and Library square, which is set with lawns and trees.

Facing across the main quadrangle towards the Chapel, these two buildings mirror each other. Both are large single vaulted chambers with an apse, and a temple front portico in the tetra style, the columns being of the Corinthian order, supporting a pediment with unadorned tympanum, this mirroring was a device used in classical architecture to try to achieve balance, majesty, space and calm. The roof of the portico is of groin vaults springing from the imposts of Corinthian pilasters on the inside and the front columns.

There are three principle registers, the ground floor, the piano mobile and the upper or attic level. There are five bays on the front elevation. The fenestration is typical, neoclassical, symmetrical distribution; the windows on the ground floor are round headed in keeping with the three arches in the portico, and the three arched windows above the entrance. On the piano mobile the windows are large, rectangular, with a pediment above, and console brackets and festoons below, the sills united with continuous molding.

The attic windows are smaller, and square with a lintel above them. The walls of the building are made from ashlars granite, with channeled rustication on the ground floor, giving the building a fortified and secure effect. The portico and three central bays are made from Portland stone, a sign of the illustrious economic climate during the last half of the 18th century (Portland stone was expensive and had to be imported from Dorset at some considerable cost). The longitude elevation of the exam hall consists of seven bays; the central window on the piano Mobile has a pediment.

Again the fenestration is symmetrical, with square windows on the attic floor, above each window is a lintel, on the ground floor the ashlars granite is channel rusticated, and the rectangular windows again have lintels above them. An undecorated transfigures ps the building between the ground floor and the piano mobile. Central to the ground floor is a door with block rustication surrounding the entrance. A balustrade runs along the parapet on the roof. Behind the balustrade on the roof, semi-circular windows run the length of the building including the three semi-circular windows on the south facing elevation, which is where the apse is.

The apse has three bays, the attic level contains the aforementioned semi-circular windows, the piano mobile contains three large rectangular, round headed windows which are framed with a keystone surrounded y five vigorous either side of it. Inside is an ‘aphasia hall with a three-bay arcaded vestibule and gallery above’2, the hall is lit naturally by the semi-circular windows on the clerestory, the round headed windows in the gallery and by the large round headed windows in the hemispherical semi-dome apse.

INTRODUCTION: Pressure is part and parcel of all work and helps to keep one motivated. But excessive pressure can lead to stress, which undermines performance, is costly to employers and can make people ill. Stress is ubiquitous and has become an integral part of everyday living, an unavoidable consequence of modern living. Stress is a condition of strain that has a direct bearing on emotions, thought process and physical conditions of a person.

During the past decade, the banking sector had under gone rapid and striking changes like policy changes, increased competition due to the entrance of more private sector banks, introduction of new technologies, etc. Due to these changes, the employees in the banking sector are experiencing a high level of stress. Bank employees admit that stress is affecting their jobs, family life and health. Unpredictable economy, pressure to maintain profitability and increased responsibilities are main causes of stress. OBJECTIVES • To analyze the origin and growth level of banking sector in Tirupur region To analyze the level of job stress among bank employees in Tirupur region. • To analyze the contribution of over load, authority, conflict and Lack of Support from colic’s to the job stress among bank employees in Tirupur region. • To analyze the importance of interventional strategies at organizational level to manage stress among bank employees. • To analyze the role of stress in interpersonal relationship • To evaluate the progress, goals and success of stress management programme organized by the banks • To give suitable suggestions to the banking sector to develop tressless working condition among the bank employees (1. 1) CONCEPT OF STRESS (1. 1. 1) INTRODUCTION TO STRESS A lot of research has been conducted into stress over the last hundred years. Some of the theories behind it are now settled and accepted; others are still being researched and debated. During this time, there seems to have been something approaching open warfare between competing theories and definitions: Views have been passionately held and aggressively defended. What complicates this is that intuitively we all feel that we know what stress is, as it is something we have all experienced.

A definition should therefore be obvious…except that it is not. Definition: Hans Selye was one of the founding fathers of stress research. His view in 1956 was that “stress is not necessarily something bad – it all depends on how you take it. The stress of exhilarating, creative successful work is beneficial, while that of failure, humiliation or infection is detrimental. ” Selye believed that the biochemical effects of stress would be experienced irrespective of whether the situation was positive or negative.

Since then, a great deal of further research has been conducted, and ideas have moved on. Stress is now viewed as a “bad thing”, with a range of harmful biochemical and long-term effects. These effects have rarely been observed in positive situations. The most commonly accepted definition of stress (mainly attributed to Richard S Lazarus) is that, Stress is a condition or feeling experienced when a person perceives that “demands exceed the personal and social resources the individual is able to mobilize. ” In short, it’s what we feel when we think we’ve lost control of events.

This is the main definition used by this section of Mind Tools, although we also recognize that there is an intertwined instinctive stress response to unexpected events. The stress response inside us is therefore part instinct and part to do with the way we think. The types of stress are as follows Mechanical •Stress (physics), the average amount of force exerted per unit area. •Yield stress, the stress at which a material begins to deform plastically. •Compressive stress, the stress applied to materials resulting in their compaction. Biological Stress (biological), physiological or psychological stress; some types include: a) Chronic stress, persistent stress which can lead to illness and mental disorder b) Eustress, positive stress that can lead to improved long-term functioning c) Workplace stress, stress caused by employment Music •Accent (music). •Stress (band), an early ’80s melodic rock band from San Diego. •Stress (punk band), an early ’80s punk rock band from Athens. •Stress (Neo-Psychedelic band), from the late 1980’s. •Stress, a song by the French band Justice on their debut album Other Stress (game), card game •Stress (linguistics), phonological use of prominence in language Chronic stress Chronic stress is stress that lasts a long time or occurs frequently. Chronic stress is potentially damaging. Symptoms of chronic stress can be: •Upset stomach •Headache •Backache •Insomnia •Anxiety •Depression •Anger is the most severe cases it can lead to panic attacks or a panic disorder. There are a variety of methods to control chronic stress, including exercise, healthy diet, stress management, relaxation techniques, adequate rest, and relaxing hobbies. 1. 1. 2) what is Stress? Stress refers to the strain from the conflict between our external environment ands, leading to emotional and physical pressure. In our fast paced world, it is impossible to live without stress, whether you are a student or a working adult. There is both positive and negative stress, depending on each individual’s unique perception of the tension between the two forces. Not all stress is bad. For example, positive stress, also known as eustress, can help an individual to function at optimal effectiveness and efficiency.

Hence, it is evident that some form of positive stress can add more color and vibrancy to our lives. The presence of a deadline, for example, can push us to make the most of our time and produce greater efficiency. It is important to keep this in mind, as stress management refers to using stress to our advantage, and not on eradicating the presence of stress in our lives. On the other hand, negative stress can result in mental and physical strain. The individual will experience symptoms such as tensions, headaches, irritability and in extreme cases, heart palpitations.

Hence, whilst some stress may be seen as a motivating force, it is important to manage stress levels so that it does not have an adverse impact on your health and relationships. Part of managing your stress levels include learning about how stress can affect you emotionally and physically, as well as how to identify if you are performing at your optimal stress level (OSL) or if you are experiencing negative stress. This knowledge will help you to identify when you need to take a break, or perhaps seek professional help.

It is also your first step towards developing techniques to managing your stress levels. Modern day stresses can take the form of monetary needs, or emotional frictions. Competition at work and an increased workload can also cause greater levels of stress. How do you identify if you are suffering from excessive stress? Psychological symptoms commonly experienced include insomnia, headaches and an inability to focus. Physical symptoms take the form of heart palpitations, breathlessness, excessive sweating and stomachaches. What causes stress?

There are many different causes of stress, and that which causes stress is also known as a stressor. Common lifestyle stressors include performance, threat, and bereavement stressors, to name a few. Performance stressors are triggered when an individual is placed in a situation where he feels a need to excel. This could be during performance appraisals, lunch with the boss, or giving a speech. Threat stressors are usually when the current situation poses a dangerous threat, such as an economic downturn, or from an accident.

Lastly, bereavement stressors occur when there is a sense of loss such as the death of a loved one, or a prized possession. Thus, there are various stressors, and even more varied methods and techniques of dealing with stress and turning it to our advantages. In order to do so, we must learn to tell when we have crossed the line from positive to negative stress. Good stress v/s Bad stress: Stress has often been misunderstood to be negative, with few people acknowledging the importance and usefulness of positive stress. In our everyday lives, stress is everywhere and definitely unavoidable; hence our mphasis should be on differentiating between what is good stress, and what is bad. This will help us to learn to cope with negative stress, and harness the power of positive stress to help us achieve more. There are 4 main categories of stress, namely eustress, distress, hyper stress and hypo stress. Negative stress can cause many physical and psychological problems, whilst positive stress can be very helpful for us. Here’s how we differentiate between them. Eustress: This is a positive form of stress, which prepares your mind and body for the imminent challenges that it has perceived.

Eustress is a natural physical reaction by your body which increases blood flow to your muscles, resulting in a higher heart rate. Athletes before a competition or perhaps a manager before a major presentation would do well with eustress, allowing them to derive the inspiration and strength that is needed. Distress: We are familiar with this word, and know that it is a negative form of stress. This occurs when the mind and body is unable to cope with changes, and usually occurs when there are deviations from the norm. They can be categorized into acute stress and chronic stress.

Acute stress is intense, but does not last for long. On the other hand, chronic stress persists over a long period of time. Trigger events for distress can be a change in job scope or routine that the person is unable to handle or cope with. Hyper stress: This is another form of negative stress that occurs when the individual is unable to cope with the workload. Examples include highly stressful jobs, which require longer working hours than the individual can handle. If you suspect that you are suffering from hyper stress, you are likely to have sudden emotional breakdowns over insignificant issues, the proverbial straws hat broke the camel’s back. It is important for you to recognize that your body needs a break, or you may end up with severe and chronic physical and psychological reactions. Hypo stress: Lastly, hypo stress occurs when a person has nothing to do with his time and feels constantly bored and unmotivated. This is due to an insufficient amount of stress; hence some stress is inevitable and helpful to us. Companies should avoid having workers who experience hypo stress as this will cause productivity and mindfulness to fall.

If the job scope is boring and repetitive, it would be a good idea to implement some form of job rotation so that there is always something new to learn. The types of stress are named as eustress and distress. Distress is the most commonly-referred to type of stress, having negative implications; whereas eustress is a positive form of stress, usually related to desirable events in person’s life. Both can be equally taxing on the body, and are cumulative in nature, depending on a person’s way of adapting to a change that has caused it. (1. 1. ) Coping with Stress at Work place With the rapid advancement of technology, the stresses faced at work have also increased. Many people dread going to work, hence the term “Monday Blues”. What is the reason for this? There is partly the fear from being retrenched in bedtimes, leading to greater job insecurity on the part of those who remain. Undoubtedly, occupational stress is one of the most commonly cited stressors faced by people all over the world. Stress refers to the pressure and reactions to our environment which results in psychological and physical reactions.

Whilst some stress is good for motivation and increasing efficiency, too much stress can result in negative impacts such as reduced effectiveness and efficiency. More and more people are feeling isolated and disrespected at work, and this has led to greater occupational stress. Many companies have taken to consulting experts and professionals on ways to increase connectedness and motivation of their employees. Some companies organize parties and make their employees feel valued at work. These are measures to motivate employees and help them to feel secure at their jobs, translating into greater productivity.

However, not all companies have such measures in place, and some have not gotten it quite right. Hence, it is up to you to make sure that you can cope with stress at your workplace, and use it to help you work better. Here are 3 simple steps to help you with coping with stress in the workplace. Step 1: Raising Awareness Help yourself to identify when you are facing rising levels of stress, tipping the scales from positive to negative. This is important, as being able to identify signs of being stressed can help you to take steps to ensure that your overall quality of life does not drop.

If left unacknowledged, the problem will only snowball, leading to disastrous consequences to your health and overall wellbeing. You can identify if you are feeling stressed by checking if you have any physical or psychological reactions, such as excessive sweating or heart palpitations, or the onset of headaches, irritability or the need to escape. If you experience any of these reactions, identify if you are feeling any overwhelming negative emotions, and if you are constantly worried. Step 2: Identify the Cause

You need to be able to analyze the situation and identify what is causing the rise in stress. These stressors can be external and internal. External stressors refer to things beyond your control, such as the environment or your colleagues at work. Internal stressors refer to your own thinking and attitude. Often, we only start reacting to stress when a combination of stressors working together exceeds our ability to cope. Keep a diary or a list of events that have caused you to feel strong negative emotions, or that are likely stressors. This will help you to identify the causes of your stress.

Whilst it is not always possible to eradicate them, we can change the way that we cope with it. Step 3: Coping with Stress In order to deal with the situation that is causing you stress, you need to calm your mind and body so as to stave off the reactions and cope with it in a positive way. This can be through different methods, such as taking time off. If a situation is triggering your stress and you are unable to calm down, remove yourself from it. Go outside and take a walk to calm down. Alternatively, you can try implementing relaxation techniques such as deep breathing.

If it is an internal stressor, stop your thought process until you are able to deal with it logically. The key to making these 3 steps work for you is to practice them. These are not instantaneous solutions, and you need to condition your mind and practice them so that you can implement it when you are feeling stressed. (1. 1. 4) Stress Management Stress management is the need of the hour. However hard we try to go beyond a stress situation, life seems to find new ways of stressing us out and plaguing us with anxiety attacks.

Moreover, be it our anxiety, mind-body exhaustion or our erring attitudes, we tend to overlook causes of stress and the conditions triggered by those. In such unsettling moments we often forget that stressors, if not escapable, are fairly manageable and treatable. Stress, either quick or constant, can induce risky body-mind disorders. Immediate disorders such as dizzy spells, anxiety attacks, tension, sleeplessness, nervousness and muscle cramps can all result in chronic health problems. They may also affect our immune, cardiovascular and nervous systems and lead individuals to habitual addictions, which are inter-linked ith stress. Like “stress reactions”, “relaxation responses” and stress management techniques are some of the body’s important built-in response systems. As relaxation response the body tries to get back balance in its homeostasis. Some hormones released during the ‘fight or flight’ situation prompt the body to replace the lost carbohydrates and fats, and restore the energy level. The knotted nerves, tightened muscles and an exhausted mind crave for looseness. Unfortunately, today, we don’t get relaxing and soothing situations without asking.

To be relaxed we have to strive to create such situations. Recognizing a stressor: It is important to recognize whether you are under stress or out of it. Many times, even if we are under the influence of a stressful condition and our body reacts to it internally as well as externally, we fail to realize that we are reacting under stress. This also happens when the causes of stress are there long enough for us to get habituated to them. The body constantly tries to tell us through symptoms such as rapid palpitation, dizzy spells, tight muscles or various body aches that something is wrong.

It is important to remain attentive to such symptoms and to learn to cope with the situations. We cope better with stressful situation, when we encounter them voluntarily. In case of relocation, promotion or layoff, adventurous sports or having a baby, we tend to respond positively under stress. But, when we are compelled into such situations against our will or knowledge, more often than not, we wilt at the face of unknown and imagined threats. For instance, stress may mount when one is coerced into undertaking some work against one’s will.

It is really important that the organization to keep accurate and up to date accounting records. Business accounting help the owners of organization to manage their affairs properly and enable outside stakeholders to assess how well the business is performing. There are some reasons to keep good accounting. Enables you to manage your business and make it grow, because no one knows your business better than you do, but reliable information can only be extracted from the records you keep. If you don’t have good records, it’s much harder to make good decisions.  Make it easy to prepare management accounts.

Management account helps you to know how your business is performing, with management accounts you can compare one period with another, his year with previous year. Keep good accounting makes you easier to get a bank loan or overdraft. Banks like it when you seek an overdraft for the right reason and at the right time. In a business, the accounting department provides accounting service and financial support to the business. Accounting consists in reporting every financial information regarding to this business performance, how much the funds is flowing in and out of a company.

Businesses should recording of financial transactions because it will help the owners to make decisions related to the management of the business. The management of the business is really important, the business needs to set targets and in order to reach them everything needs to be well planned, organized and monitored all the details. Managing the business appropriately will lead the business to make profits and success, once the business succeed everyone will be more motivated to work harder and that will help the business to expand and achieve all their targets.

It is really important to have the ability to control the business’s accounts, because if accurate records of transactions are maintained and activity closely monitored, then actions can be taken to control he balance between money flowing in and out of the business. For example, if it appeared that expenses were creeping up but sales staying the same, then the owner could look for ways to control or cut costs. Monitor activity consists in keeping up to date every information about the business performance and helps to find if there is any problem in the business.

The aim of monitor activity is to ensure that all the goals set by the business such as profit and customers satisfaction are met. Organizations must record all their transactions, documents such as bills, bank statements and receipts must be kept as evidence. One of the benefits of keeping accurate record of every transaction made in an organization is that it helps the business to maintain financial control in order to increase their profit.

Measurement of financial performance is when a company makes a full balance of how much profit the business is making and how much the business is losing. Overall a financial measurement is the full evaluation of the business. Gross profit it’s one way of measuring the business profitability because it indicates if the business management is being done efficiently. Net profit it’s what companies use to find out if whether or not the business is being success or not, net profit is the balance of all the money remaining after paying all the expenses.

It is very important for a business to account know how much is it’s the value owed to and by the business so that they can balance the profit of the company. Value owed by the company are those assets that the business has not yet paid for such as goods that have been delivered to the company or unpaid bills, in the other hand the value owed to the business are those who the company has not received the money for them yet such as amounts due to be received from customers for services supplied.