FM THE 1
a. Q1. If the titles of controller and treasurer become adopted below Indian framework? Would you like to change their features in view of the corporation practice in India? Warrant your thoughts and opinions? В В n. A firm buys a equipment for Rs. 8, 00, 000 by making a down payment of Rs. 1, 40, 000 and remainder in equal payments of Rs. 1, 50, 000 intended for six years. What is the pace of interest for the firm?
Response 1 (a)
Control & Treasurer are impartial & they have their own Perspectives & Drivers as comprehensive below:
Responsibilities incorporate, Double entry accounting, economical reporting, Scams measure, private eye controls, Monetary restatement, Compliance with statutory requirements like Rules, Accounting standards, GAAP, IFRS etc .,
Controller works & forecasts the events for a long term. Primary focus вЂ“ income statement
Ex: Money involved function
Controller looks from compliance angle (how to record, what GAAP provides and so forth, )
Responsible for Fluid management (very important function), Risk Management, More focus on monetary statements, uses leading techniques & in charge of the future functionality of organization (projects money flows)
Treasurer works/ forecasts the events on a regular basis (daily as well as weekly) вЂ“ focus вЂ“ Balance sheet & future capital structure, capital expenditure etc .,
Treasurer focuses more on cash availableness focus вЂ“ i. electronic. how to reel in the required funds etc,
Consequently , from the above it is clear that, controller & treasurer have different roles to learn. However , most of the American indian companies works together Financial Control who him self takes care of the treasury division / Profile.
Therefore , in terms of from Of india context, it could be concluded that, control is also responsible for treasury careers & there is absolutely no separate treasurer / treasury department exists
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