lc ftu hcmc best finance award

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

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