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The Islamia University of ahawalpur

THE Islamia university Bahawalpur

On CCOUNT BR NCH OF ISL MI UNIVERSITY

Submitted to:

Sir Farrukh Naveed

Submitted by:

Parsa Naqvi

Roll No. 47

MSc Accounting & Finance

Session 2012-2014

DEP RTMENT OF COMMERC





TABLE OF CONTENTSAcknowledgment………………………………………………………..………… ...7Objectives…………………………………………………………………..……..….8 Introduction………………………………………………………………..……… ....9

History……………………………………………………………………… ...10Faculties……………………………………………………………………….11 Sub campuses…………………………………………………………………11 University act…………………………………………………………………12 Incorporation………………………………………………………………… 12Powers of uni versity………………………………………………………….13

Officers of univer sity………………………………………………………………..14 Vice-chan cellor………………………………………………………………14 Authorities of univ ersity…………………………..…………………...……15

Senate…………………………………………………………………………16 Power & Duties of senat ………………………………..……………………16 Syndic ate………………………………………………………………………17

Organogram …………………………………………………………………….…….18 Treasure…………………………………………………………………………....…19

Functions of tr easure……………………………………………………….….19 Financial powers of treasurer……………………………………………….…20

Structure of account branch……………………………………………………….….22 Accounting system ………………………………………………………………...…..23 Bill section…………………………………………………………………………..…23

Functions of bill s ection…………………………………………………...……24

Persons of bill sec tion………………………………………….…...…….……24 Bill payment form…………………………………………………….…………25 Cheque Secti on…………………………………………………………………………26

Function of cheque section……………………………………………………...27 Persons Involved………………………………………..……………………….28

Fees & Dues Section……………………………………………… ...………………….29 Funtions of Section………………………………………………………………29

Computer Section……………………………………………………………………….30 Person involved………………………………………………………………….31 Software Interface………………………………………….……………………..32 Functions of Computer Section…………………………….……….………...…33

Receipt/Received CD1…………………………………….………….. .33

How to record in software………………………………….……..……34 Expenditure(freedom)……………………………………………..…. ..35

Recording of Expenses…………………………………………… ..….36 Problem faced by Computer section……………………………………………… ...…37 Store & Purchas e Section……………………………………………………………… .38

Procedure of Purchase……………………………………………………………39 Quotation form………………………………………………………….39

Procedure of Issue………………………………………………………………..40

Recording of New Assets……………………………………………………..…41





Supply Order Form…………………………………………………….. 42

Budget Section……………………………………………………………………….44 Functions of Bud get Section…………………………………………………46 Source of Expenditure……………………………………………… ..……….48

Budget at Glance………………………………………………………… .….………50 Budget estimation……………………………………………………………..51 Source of Income……………………………………………………………...52 Income from other sources……………………………………………………53

Source of expenditure…………………………………………………………54 General Record Section………………………………………………… .….……….56 Salary Section………………………………………………………………… ..……57

Procedure of Salary Calculation…………………………… .………… ..……57 Basic Pay Scale…………………………………………… .………… .…… ...58Allowances Chart……………………………………… .…………… .…… ...59

Conclusion…………………………………………………………………………..60 s





ACKNOWLEDGEMENTAll praise and gratitude due to ALLAH ALMIGHTY who created man in His own

image and enjoyed upon him to travel on the earth and enter into a profound and analytical

study of Universe for spiritual appreciation of ALLAH’S unity and His attribute as well as for

harnessing the material manifestation of t he world to the mankind’s profitable utilization. In the

first place, therefore we express our utmost thanks to ALLAH.

At the next stage I offer our gratitude to our Apostle and prospector Prophet Muhammad(P.B.U.H) for his gold en saying “Gain knowledge e ven if you have to go to China”.

After that I would like to thank all my teachers whose continued efforts helped me to study

business education and provided me with the opportunity to complete my internship.

In the end I would like to thank all the staff members of ACCOUNT BRANCH OF IUB who

cooperated with me and provided me with valuable information which helped me a lot in

completion of this report.

I am specially obliged to the followings because without their help, I would not be able to

achieve this practical knowledge:

Mr. Khalid Aali (Supervisor)

Contact # : 0300-6846694

Qualification : M.A Library Science

Designation : Assistant –BSP14

Mr. Ramzan

Mr. M IQbal

Mr. M Shakeel

Mr. M Adeel





Objectives Of internship in IUB Account BranchThe pre-requisite of internship program is to make the students of Commerce, aware of

the practical expertise and to acquaint them with the real process of working.

With an intention of grooming the best executives of the future, Department of commerce has

organized a comprehensive internship-training program. All of us were placed in leading

organizations of business arena to gain firsthand knowledge and insight into their management

and working. So, when I was given the chance of selecting an organization, I opted for

internship in account branch in IUB.

I went through 6 weeks internship training in order to perceive the true art and the practical

picture of working and to go through the process by which the organization is making very well

out of its limited resources.

I worked as an internee in IUB Account Branch Bahawalpur. The main objectives were:

I. To gain knowledge about the professional environment.

II. Deal and manage in the stressful working environment of account branch of IUB.

III. Convert the knowledge learnt from books into practical experiences.

IV. Compulsory for the completion of degree.

V. To get experience in working with well reputed organization.

VI. Discover where further competence is needed.

VII. To improve my interpersonal skills with the senior members.

VIII. And to improve my communication skills.

ParsaNaqvi

Roll No. 47

MSc A/F (2012-14)





INTRODUCTION

The Islamia University of Bahawalpur conversationally reputed to be IslamiaUniversity, is placed in Bahawalpur, Punjab, Pakistan.IUB is an open part school .Bahawalpur

has dependably been a seat of higher studying.

The Islamia university bwp has design its matrix to become Enterprise University for

developing the partnership with indigenous labor market and local community to improve the

economic growth regeneration of social wealth.

The university has set itself to offer innovative programs of applied nature that willsatisfy the need of students and employers in relation to the word of work. The university has

premeditated that by the year 2015 it would play leading role in the world knowledge will

produce a sufficient number of professionals and social scientist for improve the quality of life.

Its mission is

“ Produce a variety of scientists and researchers, responsive to national needs with

priorities focusing on issues relating to socio-economic and self-reliance. ”

The University has a long tradition of producing scholars in various fields of

knowledge. It has established a Modern Center of Excellence in Islamic Learning that will

produce enlightened thinkers equipped with religious as well as scientific vision to help

promoting peace and harmony among different civilizations. The University is determined to

keep on playing a vital role in the world of knowledge and will remain producing professionals

and social scientists for improving the quality of life across the board.





History

The Islamia University of Bahawalpur (abbreviated as IUB) ( ی م ل س ه ع م colloquially ,( ج

known as Islamia University , is located in Bahawalpur, Punjab, Pakistan.IUB is a public sector

university . Bahawalpur has always been a seat of higher learning. Uch Sharif (a nearby ancient

town) had one of the largest universities in the world where scholars from all over the world

used to come for studies. As a continuation of this tradition a religious University

(JamiaAbbasia) was established in Bahawalpur in 1925, following the academic pursuits of

Jamia Al-Azhar, Egypt. In view of the changing scenario, JamiaAbbasia was declared as a

general University in 1975, and was renamed as The Islamia University of Bahawalpur.

Initially, it started functioning at Abbasia and KhawajaFareed Campuses with ten

Departments. In order to construct a modern and self-contained campus, 1250 acres of land

was allotted to the University on Hasilpur Road about eight kilometers away from the city

centre. The sand dunes have been converted into faculties, green lawns, hostels, residential

colony, farms and orchards. It is known as Baghdad-ul-Jadeed Campus.

The University was started with ten departments and now this number has increased

to 45 offering 74 disciplines. Apart from conventional disciplines of Religious Affairs,

Languages, Social and Basic Sciences; education is being imparted in the areas of Business

Administration, Engineering, Agriculture, Veterinary Sciences, Computer, Law, Education, Fine

Arts, Pharmacy, Life Sciences and Sports Sciences. In order to provide opportunities of higher

education to the youth at their door step, two campuses were establishe.

Major achievement is thatThe university is currently Ranked at No# 08 in General

category of HEC universities ranking of 2013d at Rahim Yar Khan and Bahawalnagar in 2005.





Faculties

Islamia university has following deparments/faculties

i. Arabic

ii. Commerce

iii. Management sciences

iv. Chemistry

v. Education

vi. English

vii. Biochemistry and biotechnology

viii. History

ix. Law

x. Life sciences

xi. Social work

xii. Other departments

Sub campuses

In order to provide the education all over the country and bwp city its campuses are

also working in other cities. Main campuses are in

Rahim yar khan

Bahawalnuger

Institution of distance education

Weekend

Aunique addition to the university is its ranger campus in the heart of city.





University CT

The islamia University Bahawalpur is established Bill, 1975 having been passed by theprovincial assemble of the punjab on the nineteenth day of February 1975 and assented to the

governer of punjab on the 4 th day of march 1975, is hereby published as an act of provincial

legislature of Punjab.

The act may called the islamia university of bahawalpur act 1975.

It shall come into force at once

The university is competent to acquire and hold property both moveable

and immovable and lease.

Incorporation

The Islamia University, Bahawalpur shall beestablished at Bahawalpur in accordance

with the provisions of this Act.

The University shall consist of the Chancellor, the Pro-Chancellor, the

Vice-Chancellor and members of the Senate, the Syndicate and the Academic

Council.

The University shall be a body corporate by the name of the IslamiaUniversity,

Bahawalpur and shall have perpetual succession and a common seal andmay sue and be

sued by the said name.

The University shall be competent to acquire and hold property bothmovable and

immovable and lease, sell or otherwise transfer any movable andimmovable property

which vests in or has been acquired by it.

All properties, rights and interests or whatever kind, use, enjoyed,possessed, owned or

vested in, or held in trust by, or for the Jamia Islamia, Bahawalpuras constituted under

the West Pakistan Jamia Islamia (Bahawalpur) Ordinance and allliabilities legally

subsisting against the said Jamia shall stand transferred to theUniversity as established

under this Act





Powers of the university

The university shall have the following powers

To affiliate and disaffiliate educational institutions underprescribed conditions.

To admit educational institutions to its privileges and towithdraw such privileges under

prescribed conditions

To inspect colleges and other educational institutionsassociated or seeking association

with it;

To accept the examinations passed and the periods ofstudy spent by students of theUniversity at other Universities and placesof learning as equivalent to such examinations

and periods of study in theUniversity, as it may determine and to withdraw such

acceptance;

To co-operate with other Universities and public authoritiesin such manner and for such

purposes as it may determineto institute Professorships, Associate Professorships,

Assistant Professorships and Lectureships, and any other posts and toappoint persons

thereto;

To create posts for research, publication, extensions,administration and other related

purposes and to appoint persons thereto;

To recognize selected members of the teaching staff ofaffiliated colleges and or

educational institutions admitted to the privilegesof the University or such other persons

as it may deem fit, as UniversityTeachers;

To institute and award fellowships, scholarships, exhibitionbursaries, medals and prizes,

under prescribed conditions;

To control the residence of the students of the University and the Colleges, to institute

and maintain halls of residence and toapprove or license hostels and lodgings;

To supervise and control the discipline of the students ofthe University and the Colleges,

to promote the extra curricular andrecreational activities of such students, and to make

arrangements forpromoting their health and general welfare.





Officers of university

Following are the officers of university

i. the Chancellor;

ii. the Pro-Chancellor;

iii. the Vice-Chancellor;

iv. the Deans;

v. the Director;

vi. the Principals of the constituent colleges;

vii. the Chairmen of the Teaching Departments;

viii. the Registrar;

ix. the Treasurer;

x. the Controller of Examinations;

xi. the Librarian; and

xii. such other persons

Vice chancellor

The vice chancellor shall be appointed by the chancellor on such terms and conditions as the

chancellor may determine and shall hold the office for a term not exceeding the 4 years. At any

time the office of VC is vacant due to illness r some other reasons ,Chancellor shall make the

arrangments for the performance of duties of VC as he may deem fit.

a) To sanction all expenditure provided for in the approved budget, andto re appropriate

funds within the same major Head of expenditure.

b) To sanction by re-appropriation an amount not exceeding Rs. 5000for an unforeseen

item not provided for in the budget, and report it to theSyndicate at the next meeting.

c) To appoint paper setters and examiners for all examinations of theUniversity after

receiving panels of names from the relevant authorities.

d) To make such arrangements for the scrutiny of papers, marks andresults as he may

consider necessary.





e) To direct teachers, officers and other employees of the University totake up such

assignments in connection with teaching, research,examinations, administration and such

other activities in the University ashe may consider necessary for the purpose of the

University.

f) To delegate, subject to such conditions, if any as may beprescribed, any of his powers

under this Act to an officer or officers of theUniversity.

g) To appoint employees below the initial monthly pay of Rs. 500

h) To exercise and perform such other powers and functions as maybe prescribed.

Authorities of university

Following are the authorities of university

a) the Senate;

b) the Syndicate;

c) the Academic Council;

d) the Board of Faculties;

e) the Board of Studies;

f) the Advanced studies and Research Board;

g) the Selection Board;

h) the Finance and Planning Committee;

i) the Affiliation Committee;

j) the Discipline Committee;

k) such other Authorities as may be prescribed by Statutes





Senate

The senate shall consist of following

i. the Chancellor;

ii. the Pro-Chancellor;

iii. the Vice-Chancellor;

iv. the Members of the Syndicate;

v. the Deans;

vi. the Directors of Institutes;

vii. the Principals of the Constituent Colleges

viii. the University Professors and Professors Emeritus

ix. the Chairmen of the Teaching Departments

x. the Officer or Teacher Incharge of Students Affairs (by whateverdesignation called)

xi. the Registrar;xii. the Treasurer

xiii. the Controller of Examinations;xiv. the Librarian

Powers and duties of the Senate

Subject to theprovisions of this Act, the Senate shall have the powers:-

i. To consider the drafts of Statutes proposed bythe Syndicate and deal with them in the

manner indicated in sub-Section (2) of section 30.

ii. To consider and pass resolutions on the annualreport, the annual statement of accounts

and the annual and revisedbudget estimates.

iii. To appoint members to the Syndicate and otherAuthorities in accordance with the

provisions of this Act.

iv. To delegate any of its powers to an Authority orofficer of a Committee or Sub-

Committee; and

v. To perform such other functions as may beprescribed by Statutes.





Syndicate

The Syndicate shall be the Executive Body of the University and shall subject to the provisions of this Act, and the Statutes, take effective measures to raise the standards of

teaching,research and publication and other academic pursuits and exercise general

supervision over the affairs and management of the property of the University.

The Syndicate shall consist of:-

i. The Vice-Chancellor, who shall be its Chairman.

ii. The Pro-Vice-Chancellor, if any.

iii. One member of the Provincial Assembly of the Punjab to be nominated by the Speaker

of the Assembly.

iv. Two members 27[including at least one female member] of the Senate to be elected by

the Senate.

v. the Chief Justice of the Lahore High Court, Lahore or his nominee fromamongst the

Judges of the Lahore High Court.

vi. Secretary to Government of the Punjab, Education Department or hisnominee not below

the rank of Additional Secretary.





Treasurer

TreasurerThe Treasurer shall be a whole time officer of the University and shall be appointed by the

Chancellor on such terms and conditions as the Chancellor may determine:

FUNCTIONS OF THE TREASUER

Manage the property, the finances, and the investments of the University.

Prepare the annual and revised budget estimates of the University and present them to the

Finance and Planning Committee, the Syndicate and the Senate.

Ensure that the funds of the University are expended on the purposes for which they are

provided.

Perform such other duties as may be prescribed.

Financial Power of Treasure





1. I. Sanction Recurring and Non-recurring

expendituresII. Sanctions works bills

Up to Rs.50,000

Up to Rs.50,000

2. I. Sanctions re-imbursement of medical

charges(outdoor)

II. Passed bills already Sanctioned for

reimbursement

Full power

Full power

3. T.A Bills Full power

4. Sign Payment orders in respect of the expenditures

already sanctioned by the competent Authority

Full power

5. Sign Authorities and cheques Up to Rs.200000





IUB ACCOUNT BRANCH

DeputyTreasure DeputyTreasureProgramming

P.Ato Treasure

Assistant

Treasure-2

AssistantTrea

sure-1

Assistant

Treasure-3

Assistant

Treasure-4

Assistant

Clerk-1

Juniorclerk

Naib Qasid-1

Assistant-7

Juniorclerk-3

NaibQasid-1

A.OBudget

Assistant-3

SeniorClerk-3

Juniorclerk-6

Naib Qasid

Assistant-3

SeniorClerk-2

Naib Qasid

Treasure





Account Branch

IUB Account Branch has the following Structure

ccounting system

AccountDepartment

BillSection

Chequesection

Fees andDues

section

ComputrSection

Store andPurchaseSection

BudgetSection

GeneralRecordSection





b) Deduction and allocation provision on demand

c) Allocation of input tax

d) Maintenance of provision register

e) Revision and re-appropriation of respective budget headsf) Any other function accepted by Treasure

g) Audit of all bills

Person Involved in bill section

Treasure

Deputy treasure

Assistant treasure

Admin officer

Assistant

clerk

Naib qasid(peon)





Cheque Section:

All the types of cheque are audit and approval by these department issuance of cheque to

employees or the payment of bill all these are first audited and then distributed by this

department. If employee account is given than cheque is transferred into account otherwise send

to the relevant department for distribution.

Approval authorities

10,000 to up to200,000

Deputy Treasure hasthe authority

Above to 200,000 Two signs are requiredTreasure and VC

Up to 10,000 Admin officer canapprove the cheque





Functions of cheque Section

i. Drafting the cheque for the payment of all the expenditures.

ii. Distribution of cheque.

iii. Co-ordination with the other sections of the department.

iv. Ensuring payment at right time.

v. Facilitation of students and employees regarding cheques.

vi. Cheques regarding the students security refunding.

vii.

And all others as direct by treasure or university authorities.





Persons involved in cheque Section

Treasure

Assistant Treasure

Assistant

Admin Officer

Senior clerk

Junior Clerk

Naib Qasid or peon





Fees & Dues Section:There are three departments working in this section:

Fees and dues department

Verification department

Recording department

The working of fees and dues department is done by assistant and all document related to thisdepartment is verify by assistant. The verification of fees and dues and related Challan is done

by senior clerk and recording related of challan and fees is done by peon

FUNCTION OF THE SECTION:

Following are the function of Cheque Section

Recording of fees and dues in manual & computerized programs.

Verification of challan forms regarding CD1.

Co-ordination with other departments.

ASSISTANT-14

ASSISTANT-14

SENIOR CLERK-9

NAIB QASID





Person involved in computer section:

Data base administer

Computer operator

Account Assistant

Computer Technician

Senior Clerk

Junior Clerk

Laboratory Assistant

Lab Attendent

Naib Qasid





The software that is used for recording of expenditure and income its interface is like as follow:





Functions of Computer section:

There are two types of accounts are prepared by computer section which are:

Receipt/Revenue CD-1 Accounting is maintained through a software named as INCOME CASH

BOOKSOFTWARE.

This software is developed by the EXPERT SYSTEM.

The university is purchased this software for RS.2,00,000/year.

The accounting record keeper only feeds data or he can check the mistake in recording or

solve the student problems in case of loss of vouchers/Challan forms.

The software automatically reconciles the cash book with the bank statement which is

provided by the bank in the soft copy.

Book keeper is not allowed to update the software.

All types of university receipt are recorded in this software.

A soft ware connected through the server where the data is backed up and the databases

administer supervises the working of the staff.

Each user provided with a password and a separate account and his access to the

software is limited.

If the error is made in recording the transaction, only the data base administration can

edit the transaction





How to record in the software:





Expenditure (Freedom Account)

All the disbursement or payments made by the university are recorded in the expenditurefreedom account.

Expenditure are recorded in the software made as EXPENDITURE

MANAGEMENT SYSTEM SOFTWARE

The heads change as the nature of the expenditure changed. For example

Bill section

Salary section

Pay and allowances

Contingencies

Payment as pension, fund etc

Other petty expenses of the university





Problems faced by the computer system:

i. Only two persons maintain the books of accounts of all incomes of the whole university

which represent the huge burden on them.

ii. There is no formal or special training given to the user of this software.

iii. When the software was purchased there was no special training given to the software

drivers only the training session was attended by the V.C, Treasure, Deputy treasure, and

two IT department members.

iv.

The university doesn’t have the software developer at the spot. v. If there is a problem in the software they have to wait for software developer which is a

loss of time.

vi. The software is not updated at proper intervals.

vii. The employees have to work overtime to complete the work due to less human

resources.





Procedure of purchasing:

Purchase shall be made in the most economical manners there are three heads in which

any department purchase the goods

Petty purchase

Quotation

Tender

A provision is set in budget every year for every department for meet their needs. Every

department sends a demand in written letter to this section with new component report.

Authorized committee to make the purchase after ascertaining the rates from the local market.

the competent committee shall have to record a certificate on the bill that the goods is purchasedon the lowest rate before purchasing the item the approval/permission to purchase will be

granted by the deans of faculties and head of the purchase section.

For the purchase of items valuing 10,001/- but below from 400,000/- sealed quotations

shall be invited in writing through registered letter from the local market and purchase be made

at the lowest quoted rates. Invitation quotation period is minimum 7 days. After 7 days

purchased committee will be called and all quotations opened. All member of the purchased

committee signed on the quotations.

If there a big projects valuing more then 400,000/- then open tender shall be published

by a authorized committee giving at least seven clear days notices. The comparative statement

shall be made and the committee shall certify that the rates are the lowest as per rates prevailing

in the market. Then the purchase shall be made at the lowest tender according to the required

specification.





Procedure of issue:

After purchasing the demand goods then items is issue to department who sent a written

letter for items purchased if the letter is in limit that is passed in budget then goods is issued

after a specific procedure if the demand of faculty is beyond the provision that is authorized in

budget then a permission is required from the vice chancellor after approval from V.C then the

goods purchased and issue to department.

Store & Spare Department:

Store and spare is important in accounting department. In this Section recording is made

both manually and computerized. For the computerized recording. Following menus are

included in it

Supply Order

Store issue voucher

Store receipt voucher

Store and spare issued all petty purchase. If anything is not available in the store and

spare then they allowed for purchase.

When the purchasing department supply order to supplier then one copy sent to the store

and spare. When the supply received then inspection committee inspect the goods. The store

department Stores the purchase and provide to the concerned department within 7 days.

Recording of New assets:

Computer software this method is used for recording the assets :

Main code

Sub code

Item code

For example: 03-07-0007.





Budget Section:

Process of budget approval

Draft budget

Budgetcommitteevaluation

Universityauthority

V.C approval

Finance andPlaning

Syndicate

Senate

Final Approval





Preparation:

Budget is prepared keeping in view that no expenditure can be made without having the provision in budget documents. In this prospective the S.N.E are called from all the teaching

and non-teaching departments and is prepared by

Admin officer Budget

M.A Library science

Budget Recommendation authority

The finance and planning committee

The syndicate

Budget Approval Authority

The senate

If authority recommends any change in the budget documents than it is responsibility

of the treasure to make the changes according to directions.

Functions of budget Section

Invitation from departments from SNE’s.

Receiving and maintenance of SNE’s.

Presentation of SNE’S before the budget committee

Allocation and distribution of budget committee

Receiving grants from HEC

Sending demand for additional grants to HEC

Preparation of revised budget

Any special function assigned by the treasure

Supporting other departments





Budget

What is Budget :

A budget is a financial document used to project future income and expenses. The

budgeting process may be carried out by individuals or by companies to estimate whether the

person/company can continue to operate with its projected income and expenses.

A budget may be prepared simply using paper and pencil, or on computer using a

spreadsheet program like Excel, or with a financial application. The process for preparing a

budget includes:

Listing of all sources of income, including sales and interest

Listing of all required, fixed expenses, like rent/mortgage, utilities, phone

Listing of other possible and variable expenses.

Types of budget

Following are the two types of budget

1. Recurr ing Budget.

Recurring budget is also called non development budget. In this budget there are two

types of expenditures

Posting expenditures

In posting expenditures only salaries are included.

Contingent Expenditures

All other expenditure other than salaries is included in contingent expenditures





2. Non recurring budget.

This budget is also called development of all types of constructions or development

includes in this budget for example building, roads etc.All funding for this budget is provided by

the government.

Budget preparation philosophy

There are two major types of philosophy in the preparation of budget which are

Incremental budgeting

Zero budgeting

Incremental budgeting

A philosophy in which budget committee decides fixed percentage increased in each

year for income and expenditure.

Zero budgeting

In this philosophy budget is allocated on the basis of importance of each expenditure

every year.

Source of revenue

Main sources of university income are as follows

I. HEC grant

II. University own sources

However Additional grants is another source of incomefor the university. The demand

for additional grant is raised when expenditures increase from the income due to change in

thepay scale or announcement of any adhoc relief from government or due to opening of new

department during the financial year or to wipe out the deficit which occurred due to rareness

of funds and expenditure made by loaning from other accounts.





Income derived from Own sources

Main sources of income derived from own sources are given below.

a) Admission/tuition fee

b) Examination fee

c) Hostel charges

d) Lease of cultivated land

e) Auction of canteens and mess

f) Income through investment

Budget is prepared in view of these sources

Expenditures

University expenditures are classified into following groups

A. General Administration.

a. Vice chancellor

b. Vice-chancellor office

c. Public relation office

d. Directorate of IT

e. Registrar officer

f. Establishment branch

g. University printing press

h. Academic branch

i. Meeting and registration branch

j. Planning and development branch

k. Treasurer’s office

l.

Account branch





m. Audit branch

B. Common services.

a. Medical and health section

b. Engineering branchc. Estate care section

d. University guest house

e. Security system

f. Transport

g. Farm management

h. Paid staff/daily wages

C. Examination Branch.

a. Controller office

b. Examination branch

D. University teaching

E. General Contingencies

F. University publication

G. Loans and advances

H. Maintenance and repair

I. University managed school

J. V.C’s reserve fund

K. University resident colony





General Record Section:

Function of Section

Storage of all records which are manually prepared

Maintenance of the prepared record

Handling and availability of previous recordsss

Assistant

Senior ClerkJunior clerk

Daftri

Naib Qasid





CONCLUSION:

Account branch of IUB manage all the accounts relating to the university and all other

matters like budget, Expenses etc. It has different sections for different work and different

officers run these section. Treasurer manage the whole department , after this deputy treasure,

assistant treasure, assistant and than clerk all these persons control the different work of

different section.

These sections are Bill section, Cheque section, fees and dues section, budget section.

General record section, computer section, purchase & sale section and Salary section.

Bill section manage all the tasks related to bills which are issued for purchase or sale of

different assets of university and for petty purchases. Bill received from the suppliers are first

audited and than approved from different authorities according to their range. Cheque section

manage the cheques for the pay of employees and for the payment of bill. First it come in

dispatch section than treasure and than audited if its is clear than approved from Treasure,

deputy Treasure or Assistant Treasure.

Fees and dues section is related to students and colleges. There different colleges which

is affiliated with Islamia university of Bahawalpur. The schedule of fees and dues is issued by

university account branch and if fees are not deposit on due date then fine is charged by

following a specific procedure. This is approved by Assistant-14.There other two more

departments related with fees and dues section one is verification section and second one is

recording section. In these departments challan is verified and record in a specific manner.

The meaning of Budget is a bag of documents containing the financial proposals and is

accepted as such or some alteration by the competent authority. In this section there two subsection one is related with income and one is related with expenditure and these are recorded by

using software. In this section current budget is prepared then if there any kind of mistake then

alteration is made and after that a revised budget is prepared then estimated budget is also

prepare for next year.




In general record section proper record of all incomes and expenses related to different

departments of university is maintain .The record is maintain manually and also in computerized

manner. In this section all the previous record is available for different task like for auditing.

In Computer section all the revenue and expenditure is recorded by using different

software revenue is recorded by using INCOME CASH BOOK SOFTWARE and expenditure is

recorded by using EXPENDITURE MANAGEMENT SYSTEM SOFTWARE. In accounting

language revenue is known as cash deposit account (CD 1) and expenditure account is known as

freedom account.

Storing and issuing section is included in purchase and sale department. A demand is

sent to all the department of university in which a provision which is issued in the annual budget

is issued in which provision the department sent a written letter to purchase and selling

department for their demand of goods purchased if this demand is for petty expenses then a

committee analysis the market price of that goods and purchased the lowest price goods and

after audit and proper procedure goods are sent to desire department. Tender is also issued for

projects expenses the storing of goods is also done by this department. Total record is

maintained manually and also in computerized manner.

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