A Study of Accounting of Banking Companies
A STUDY OF ACCOUNTING OF BANKING COMPANIES
SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENTS FOR THE AWARD OF
MASTER OF BUSINESS ADMINISTRATION AND
MASTER OF BUSINESS LAWS
[pic]
UNDER THE ABLE GUIDANCE OF
PROFESSOR Dr. GAJENDRA MEHTA
FACULTY IN CHARGE, PRINCIPLES OF ACCOUNTING
BY
Iftekhar anees
M.B.A.,M.B.L SEMESTER I
NATIONAL LAW UNIVERSITY, JODHPUR.
August, 2006
BONA-FIDE CERTIFICATE
Certified that this study paper is the bona fide work
Dr. Gajendra Mehta,
Faculty in Charge and Project Guide,
National Law University, Jodhpur
: Preface:
From times immemorial, the banker has been an indispensable pillar of Economic Society all over the world. He may have been missing in the good old days when self-sufficiency was the law of land and there was no existence of money economy. The introduction of division of labour however brought in its wake the use of money without which there was a peculiar complexity and trouble in matter of exchange. Money Economy in turn, could not do without the institution of banking for any considerable time.
This study paper has been specifically prepared for looking into the accounting aspect of banking form of business. So, for the purpose of the paper, a bank is not merely a financial services provider, it is rather to be taken as some entity being run to carry out some business activity and thus to earn some profit.
In the Indian context, business of banking is largely governed by Banking Regulation Act, 1949 and some other statutes like Reserve bank of India Act, Companies Act, etc. These statutes also provide for accounting aspects of a banking company so an attempt to cover all such provisions to some possible extent has also been made.
:INTRODUCTION:
A developed banking system plays a crucial role in any economy. The banks play the role of financial intermediaries between the ultimate lenders and ultimate borrowers. Since banks mainly play with public money,
SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENTS FOR THE AWARD OF
MASTER OF BUSINESS ADMINISTRATION AND
MASTER OF BUSINESS LAWS
[pic]
UNDER THE ABLE GUIDANCE OF
PROFESSOR Dr. GAJENDRA MEHTA
FACULTY IN CHARGE, PRINCIPLES OF ACCOUNTING
BY
Iftekhar anees
M.B.A.,M.B.L SEMESTER I
NATIONAL LAW UNIVERSITY, JODHPUR.
August, 2006
BONA-FIDE CERTIFICATE
Certified that this study paper is the bona fide work
Dr. Gajendra Mehta,
Faculty in Charge and Project Guide,
National Law University, Jodhpur
: Preface:
From times immemorial, the banker has been an indispensable pillar of Economic Society all over the world. He may have been missing in the good old days when self-sufficiency was the law of land and there was no existence of money economy. The introduction of division of labour however brought in its wake the use of money without which there was a peculiar complexity and trouble in matter of exchange. Money Economy in turn, could not do without the institution of banking for any considerable time.
This study paper has been specifically prepared for looking into the accounting aspect of banking form of business. So, for the purpose of the paper, a bank is not merely a financial services provider, it is rather to be taken as some entity being run to carry out some business activity and thus to earn some profit.
In the Indian context, business of banking is largely governed by Banking Regulation Act, 1949 and some other statutes like Reserve bank of India Act, Companies Act, etc. These statutes also provide for accounting aspects of a banking company so an attempt to cover all such provisions to some possible extent has also been made.
:INTRODUCTION:
A developed banking system plays a crucial role in any economy. The banks play the role of financial intermediaries between the ultimate lenders and ultimate borrowers. Since banks mainly play with public money,
Bibliography: Following reference readings were highly value-additives to this study paper: 1. Banking Regulation Act, 1949 – Bare Act. 2. Reserve bank of India Act, 1934 – bare Act. 3. Bankers’ Book Evidence Act, 1891 – Bare Act. 4. TANNAN’S Banking law and Practise edition 2005. 5. Advanced Accounting II by Deepak Sehgal & Ashok Sehgal.