Accounts & Finance Division

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Functions of ACFD

Opening Statement

The Accounts and Finance Division was established to manage the financial affairs of the University. Headed by Tawfiqur Rahman, Additional Director with twelve staff who amongst other things handle accounts & investment, payroll, payments, loans, contracts & supplies, budget, treasury and computers. The Division is striving for a Total Quality Management (TQM) and to adapt the approach of a learning organization in the way for excellence.

Mission Statement

To offer quality and excellent services to client’ satisfaction, in line with the IIUC’s vision and mission.

Our Objectives

1. To plan the University’s finances at macro and micro level in efforts to reduce Government dependency
2. To manage the University’s finances effectively and efficiently within the allocated budget and in accordance with the University’s Financial Policies and Procedures.
3. To offer expertise, advice and assistance in the University’s decision and policy making in matters relating to finance and accounting.
4. To prepare and submit timely financial reports and statements to the relevant authorities as required by the Executive Council (EC) of IIUC, the University Grants Commission (UGC), Government’s orders and circulars, acts and bylaws.
5. To integrate and practice Islamic Financial Systems (IFC), management and concepts in the University’s financial system complying with International Accounting Standards (IAS), Generally Accepted Accounting Policies (GAAP) and International Financial Reporting System (IFRS).

Office of the Director

• Accounts Unit
• Student Financial Information Unit
• Payroll Unit
• Provident Fund Unit
• Assets Management Unit
• Share & Project Investment Unit
• Credit Control Unit
• Cash Management Unit
• Budget & Budgetary Control Unit
• Contract and Supply Unit
• IT and Accounting Resources Unit

Operational Activities of Accounts & Finance Division

Account Unit

• Preparation of Financial Statements
• Managing the various University’s Fund
• Managing staff Financing Facilities (Loans)
• Managing credit control & disbursements
• Managing collections of donations

Internal control

Students Financial information Unit

• Disbursement of stipend and scholarships
• Disbursement of financial loans
• Dealing with sponsors
• Collections of student fees
• Other financial information

Payroll Unit

• Preparation of monthly salary and other allowances
• Processing of deductions of various loan to staffs
• Income Tax

Provident Fund Unit

• Preparation of monthly provident fund statement
• Processing of deductions of various loan to staffs
• Investment of accumulated PF fund

Assets Management Unit

• Management of ASSETS
• Monitoring and ensuring safeguard of Assets
• Depreciation and maintenance of Assets Register

Budget and Budgetary Control Unit

• Secretariat for Standing Finance Committee
• Register annual budget
• Monitoring budget performance

Contract and Supply Unit

• Secretariat for Tender Board.
• Managing procurements, quotations and tenders

IT and Accounting Resources

• Accounting Software
• Payroll Software
• Provident Fund Software
• Student Financial Information Software
• Assets Management Software
• Upholding MIS

List of Employees of ACFD

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