lc ftu hcmc best finance award
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TRANSCRIPT
LC FTU HCMC -BEST FINANCE AWARD
Term 14 -15
1. FINANCE POLICY AND PROCEDURES
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
https://www.dropbox.com/home/lc%20ftu%20hcmc%20-%20best%20finance%20award/Finance%20Policy%20and%20Procedure%2011%20points/Finance%20procedure
https://www.dropbox.com/home/LC%20FTU%20HCMC%20-%20BEST%20FINANCE%20AWARD/Finance%20Policy%20and%20Procedure%2011%20points
https://www.dropbox.com/home/lc%20ftu%20hcmc%20-%20best%20finance%20award/Finance%20Policy%20and%20Procedure%2011%20points/Externa%20training
2. REPORTTING
Criteria Score Achieve Explain
Monthly budget vs actual reportMonthly 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
3. AUDITING
- There was 1 auditing meeting conducted between VPF LC FTU HCMC and VPF LC HCMC, the output of meeting was updated in MC Finance Dropbox
- After auditing meeting, nearly 10 different internal processes were improved
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%20FINANCE%2013-14/AUDITING/AUGUST%20AUDITING
4. FINANCIAL SUSTANABILITY
DATA AFTER BENCHMARKINGCriteria 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
5. OTHERS
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-