Finance and Accounting Procedures in Public Company in Nepal

Citation

Shrestha, Niva. (2018). Finance and accounting procedures in Public Company in Nepal. (Cooperative Education). Bangkok: Siam University.

Abstract

This cooperative report entitled “Finance and Accounting Procedures in Public company in Nepal” has the goals to study how financial and accounting measures are done in non-life insurance company. Objectives of the study include: (1) to describe roles and activities in the finance and accounting department, (2) to describe how accounting and finance doing in insurance company and (3) to describe what type of accounting is done in the insurance. With the company, I was assigned to work as a finance and accounting intern, in the department of finance and account. Main responsibilities are to record Value Added Tax (VAT) in VAT files according to the branches and surveyors, make payment vouchers and writing checks to the appropriate surveyors and insured, calculate cash and VAT bills, reconcile of bank statement, file the required journal vouchers to is associate index, record commissions payment statement of the given branches, record the payment of agents in the company accounting software, create documents in Nepali text format and responsible for management of recording the claim payments in the company software.

Upon the completion of the internship, it was found that the problem was resolved by the means of understanding the accounting policies of the company. In this matter, I was able to learn more about how the insurance company succeed in managing its customer’s data by providing good services and fulfilling their requirement according to their needs, which are very important for future career development and profession.

Keywords:  Non-life Insurance, Finance and Accounting.

Finance and Accounting Procedures in Public Company in Nepal

Faculty of Business Administration, Siam University, Bangkok, Thailand