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Friday, June 17, 2016

Dena Bank Recruitment 2016

dena bank recruitment 2016

Are you looking for job in Public Sector bank? Here is opportunity for you. Dena bank has issued job notification for posts like CA, ICWA and other professionals. If you are interested then go through following detail job description and apply for the same.

Job description

Following are the postwise vacancy details.


Sr. No.
Discipline
Scale
No.
Age as on




of
01.06.2016




Post
Min. 20 years





Max. as under

1
Chief Manager(IT-CISO)
SMG Sc- IV
1
45

2
Chief Manager (Operation Risk )
SMG Sc-IV
1
45

3
Chief Manager (Credit Risk)
SMG Sc-IV
1
45

4
Manager (Model Development
MMG Sc- II
2
35

& Validation under Basel)









5
Manager (Operation Risk Management)
MMG Sc-II
1
35

6
Manager (Market Risk Management)
MMG Sc-II
1
35

7
Manager(CA/ICWA)
MMG Sc-II
17
35

8
Manager( Security)
MMG Sc-II
23
35

9
Company Secretary
MMG Sc-II
1
35


Total

48




Important: Eligible Candidates are required to apply on-line through Bank’s web site www.denabank.com. No other means/modes of 
application will be accepted.
The Tentative schedule of events is as follows :
Tentative Dates
Online Registration
10.06.2016 to 24.06.2016
Payment of Application Fees-Online*
10.06.2016 to 24.06.2016
Download of Call letter for Examination
After  14.07.2016
Online Examination ( Tentative dates)
23.07.2016
(For Post Codes 4,5,6 & 7)



Please Note: -

  1. Candidate can apply for only one Post. Multiple applications will be summarily rejected.

  1. The Process of Registration of application shall be treated as completed on deposit of requisite fees to the bank through On-Line mode on or before the last date of fee payment:
  1. Before applying, candidates are requested to ensure that they fulfill the eligibility criteria for the post as on date of eligibility.
  1. Candidates need not send the Print out of the Computer Generated Online Application submitted by them. However, they are advised to take a Print-Out of the same and retain it with them for future reference and for produce by the same at the time of Interview.

  1. Candidates are advised to check Bank’s website  www.denabank.com for full advertisement and other updates, which will be uploaded from time to time.



1.1.  ELIGIBILITY CRITERIA:

All eligibility criteria as to qualification, Age etc. shall be computed as on 01.06.2016
I.       Nationality / Citizenship:

A candidate must be either -

(i)    a Citizen of India or

(ii)   a subject of Nepal or
(iii)  a subject of Bhutan or

(iv)   a Tibetan Refugee who came over to India before 1st January 1962 with the intention of permanently settling in India or

a person of Indian origin who has migrated from Pakistan, Burma, Sri Lanka, East African countries of Kenya, Uganda, the United Republic of Tanzania (formerly Tanganyika and Zanzibar), Zambia, Malawi, Zaire, Ethiopia and Vietnam with the intention of permanently settling in India, provided that a candidate belonging to categories (ii), (iii), (iv) & (v) above shall be a person in whose favour a certificate of eligibility has been issued by the Government of India.

Wednesday, June 8, 2016

AS-4 Contingencies and Event Occurring After the Balance Sheet Date

accounting standards


Introduction

In preparation of books of accounts is take place throughout the accounting year but preparation of financial statements like Profit & Loss A/c take place the end of the year which is called finalisation. Preparation of these financial statement take place at the end of the year but approval of the same will be by board of directors in board meeting. There is time period between these two event of accounting system and any contingencies or even occurs after balance sheet date but before approval of statements by BOD (Board of Directors) need to be dealt according to requirement or provisions of AS – 4 that is Contingencies and Event Occurring After the Balance Sheet Date. According to this Accounting Standard any event or contingencies occurs after balance sheet date should be disclosed accordingly in the general purpose financial statements.

Applicability

Whenever it is specifically mentioned by Institute it will not applicable. These are the special case where this Accounting Standard is not going to applicable.



  • Liabilities of life insurance and general insurance.




  • Obligations under retirement benefit plans.



  • Commitments arising from long term lease contract – If any liability on account of commitments arising from long-term contracts.



  • Contingency

    According to this Accounting Standard contingency is define as, contingency refers to –



  • If any contingency is arise after balance sheet date the conditions or situation for the same should be existed on balance sheet date.




  • Result of this contingency is not known on the balance sheet date.



  • Result of which would be known only happening or non-happening certain events in future.




  • Result may be either a gain or loss.



  • For example



  • Company should make the provision for bad & doubtful debts, as situation of non-recovery from the debtors is existing on balance sheet date, result whatever is not known on that date & whatever result would come will be either gain or loss.



  • Litigation, claims and assessments all are cover under this Accounting Standard.


  • Estimation

    As the contingency or situation or condition for such event is available on the date of preparation of financial statements, for the purpose of making provision of such event estimation is required. The estimation of outcome and financial effects of contingencies are determined by the management. The management makes decision on the basis of information available up to the date of approval of accounts. Here one thing also should be noted that contingencies covered under AS-29 should not be considered here.

    Events

    Events occurring after balance sheet date are those which occur between the balance sheet date and date on which financial statements are approved by the competent authority. These events are significant event and it may favourable and unfavourable.
    For example – Balance sheet date is 31st March, 2012 and Board of directors approved the accounts on 30th August, 2012. Any significant event occurs between 31st March, 2012 and 30th August, 2012 is termed as event occurring after balance sheet date. Let say there was fire in the company plant on 27th July, 2012 which destroyed plant worth Rs.10 crores.
    For the further understanding and recording or disclosure purpose these events are further classified in to two categories that is adjusting event and non-adjusting event. Explanation of the same is as under.

    Adjusting event

    If the events related to circumstances existing on the date of balance sheet is called adjusting event and accounting treatment of such event is required to make. But one more thing which we cannot ignore is according to the accounting concept we cannot record future gain in the books of accounts so that here adjustment of event will be done only if there is expected loss on result of the event.
    Example
    Insolvency of a customer – Insolvency of a customer which occurs after the balance sheet date usually provides additional information on the condition that existed at the balance sheet date. Therefore, the carrying amount receivable should be adjusted for the event; assumption are made as follows.




  • The condition of insolvency existed at the balance sheet date.





  • The entity could not collect the complete information about the collectability of the receivable because of the unreasonable effort and cost required to collect information.





  • Therefore, it could not estimate the insolvency of the customer.





  • However insolvency caused by a major fire in the factory premises of debtor will not be covered as adjusting event and accordingly the carrying amount of the receivables should not be adjusted fort the event.


  • Non-adjusting event

    If the event not related to circumstances existing on balance sheet date will be considered as non-adjusting event. For such non-adjusting event no accounting treatment is required but only disclosure by way of notes to accounts is required.
    Example
    Decline in the market value of investment – Decline in the market value of investment between the balance sheet date and the date of approval of financial statements by the appropriate authority does not normally relates to conditions that existed at the balance sheet date. Therefore, the event not result in adjustment of the carrying amount of the investment in the balance sheet. The assumption is that the conditions which resulted in decline in the market value of investment, occurred after the balance sheet date.

    Event occurring after approval of accounts

    Any event occurring after books of accounts are approved by the competent authority (Shareholders) and also after approval of board of directors of the company, it should be disclosed in the director only if it is material.

    Disclosure

    According to this Accounting Standard, whenever it is adjusting event and accounting treatment is required the same should be given in the books of accounts but if material contingent loss is not provided for its nature and estimation, financial effect of such contingency should be disclosed by way of note. If estimate of financial effect cannot be made the fact should be disclosed.