Accounting and finance are very much correlative activities to manage operational and financial data and generating information for the management to facilitate decision making process for routine works of an organization and sustainable development planning likewise, other organizations. Good accounting and financial management helps keep the business under control; it also provides the owners, management and others with the information and the confidence to make the good decisions and take the opportunities to help the organization grow.

Accounting is the backbone of business. Accounting is the systematic networks of operational activities and specialized services to the management for achieving goal of the organization. Accounting reports as the language of business to test the physical strengths of organization and an indispensable tool for monitoring and evaluation. The whole operation of the organization is quietly manageable by using accounting tools, i.e. planning, budgeting, accounting and reporting functions. A proper accounting system is essential to any business whether big or small in order to manage its daily functions and keeps the business running successfully. For any successful business, the main obligation is to maximize profits, minimize any costs and at the same time maintain its position as a responsible entity within the society. Ethical and professional accounting forms a clear financial image of a business, and allows management to make informed decisions, keeps investors abreast of developments in the business, and keeps the business profitable. The financial records of a company are used to make important decisions, such as whether or not to make a major investment. Proper accounting supports company officials while they make these decisions, showing them whether an investment will be practical, and if the company can afford it. Accountants prepare regular statements, which are distributed to company officials so that they can follow the health of the business.

Finance is the lifeblood and nerve center of a business, just as circulation of blood is essential in the human body for maintaining life; finance is a very essential to smooth running of the business. It has been rightly termed as universal lubricant that keeps the enterprise dynamic. No business, whether big, medium or small can be started without an adequate amount of finance. Right from the very beginning, i.e. conceiving an idea to business, finance is needed to promote or establish the business, acquire fixed assets, make investigations such as market surveys, etc., develop product, keep men and machine at work, encourages management to make progress and create values. Even an existing concern may require further finance for making improvement or expanding the business. Thus the importance of finance cannot be over-emphasized and the subject of business finance has become utmost important both to the academicians and practicing managers. The academicians find interested in the subject because the subject is still in its developing stage and the practicing managers are interested in the subject because among the most crucial decisions of a business.

BAPEX is a state-owned only Oil and Gas Exploration and Production Company in Bangladesh. The main activities of the Company are to carry out Geological and Geophysical Survey, Investigation and Drilling for Exploration, Development and Production of Hydrocarbon Resources. Accounts and Finance Division is very vital for smooth conduct of business of the Company. Keeping this object in view Accounts and Finance Division of Bangladesh Petroleum Exploration & production Co. Ltd., has been performing its responsibility quite significantly since its inception. From initial period of the Company till to date functions of this division has increased manifold and in future it will continue to increase with expanding Company’s activities.

The Accounts and Finance Division is headed by the General Manager reporting to Managing Director and Member of Boards. General Manager as the chief of the Accounts and Finance Division has to oversee the functions of Deputy General Managers, Managers and entry level officers and staff. To administer and assemble the immeasurable activities of BAPEX, Accounts and Finance Division has been taken apart of two core Departments supervised by Deputy General Managers viz. Accounts and Finance. To control the jobs and functions of the officers of each department again segregated into sections headed by managers. Major activities of this division may be pointed below:

• Keeping the books of accounts in accordance with the rules.
• Internal check of transactions affecting the receipts and expenditure.
• Tendering advice to the Management in all matters involving corporate finance.
• Compilation and control of budget in consultation with the divisions.
• Investments of surplus funds as per the Management Directives.
•  Debt Servicing.
• Ensuring no financial irregularity in the transactions.
• Collection and deposit of Receipts.
• Preparing payment schedule and arranging payment to the Vendors, employees accordingly.
• Preparation of Budget/Annual Plan based on various departmental budgets Monitoring Sources and Uses of Funds according to the Budgeted Plan Debt Servicing – Short Term surplus, if any, is invested in short term deposits with a view to mature on due dates for debt servicing.
• Preparation and Submission of Periodical Cash Flow Statement bringing out actual receipts and payments as compared to the Budget.
• Preparation and submission of Quarterly Projected Cash Flow Statement based on Fund Requirements of Operative Departments, Debt Servicing Liability, Administrative and Establishments Expenditure  to Managing Director for information.
• Short Term Working Capital Management is carried out effectively.
• Circle-wise finalization of Annual Accounts and Consolidation thereof in Corporate Annual Report.
• The total sanctioned strength is deployed in Accounting Units for carrying out various day to day functions of accounts and Unit-wise finalization of accounts at their end and Internal Audit Coordinating Unit.
• The various functions described above are carried out by Deputy General Manager, Manager assisted by Deputy Manager, Assistant Manager, Junior Officers and Accounts Clerks, in that hierarchy, as per the instructions/procedures contained in Rules, Regulations and Guidelines. Powers to carry out these functions are further delegated through Board’s approval, issued from time to time and delegation of powers (DOPs) to General Manager and further down the line of hierarchy.

• The procedure followed in decision making starts from supervisory level through a system of internal noting, bringing out various facts and figures with relevant rules and other extant instructions. The proposals with noting are submitted to higher levels and decisions are taken by the competent authority as per the Delegation of Powers approved by the Board.
• In addition to above, decisions are also taken in various meetings with MD, other Head of Divisions and Internal Auditors, Tax Consultants and organized unions.
• Channel of Supervision
• Every employee/officer of the hierarchy is given duties within the framework of duties.. Officers and staff are accountable to the extent performance of duties/tasks entrusted.
• Regulations: Memorandum and Articles of Association, Contract Act, Income Tax Act, Value Added Tax Act, Arbitration Act.
• Instructions: Board of Directors’ directives and instructions, MD’s instructions and instructions issued by the respective Head of Divisions with the approval of MD, from time to time.
• The list of records with period of preservation is as per the Accounts Code. Generally, the following records are maintained for the day to day discharge of different functions.
• Attendance Records, Pay Sheets, Final dues settlement orders, PF ledgers, Settlement Registers, Leave Accounts, Pass Registers, Loans and Advances Registers, Deposit Registers, Paid Vouchers, Unpaid Statements,  Payroll Statements for establishment claims.
• Vouchers for Paid Bills, Contractor’s Ledgers, Security Deposit Registers, Miscellaneous Advances Registers, Staff Advance Registers, Copies of Approval and Financial Concurrence by Competent Authorities, Contract Agreements, Purchase/Work Orders, Bank Guarantee Registers, and Bill Inward/Outward Registers for expenditure claims, Fund, Requisitions.
•  Cash and Cheque Scroll, Petty Cash Register, Debit Vouchers accompanying the           Approval and certified Bills, Journal Vouchers, Journal Registers, Cash Book, Ledgers,              Bank Reconciliation statements, Subsidiaries.
•  Annual Reports that are approved by the Board, audited by certified auditor, approved by Share holders, and placed in the Annual Accounts, Company Balance Sheet and Profit & Loss Account with all the related Schedules, Auditors’ Reports, Compliance of Share holder directives.
• Approved Project Reports, Operative Budgets for the year, Operative Schedule of Rates, Delegation of Powers, Sanctions, Orders, Instructions, Recommendations, Tenders, Works Programmes for finance functions.
• Approved Budgets, Budgetary statements, Budget Grants, Budget requirement statements of all departments, Statement of expenditure, Audit References and Appropriation Accounts for Budgetary work.
• Miscellaneous Deposit Registers, Sale Entries, Cash & Cheques Scrolls, Bank Deposit      Slips, Bank Reconciliation Statements.

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Fig. 1. AEZ (2,7,9 and 11) and road-bridge concentration

The proposed research work was conducted through a package of methodologies in a step-wise strategy. The package will include: i. physical visit and documentation of a few Bridges and culverts with catchments areas; ii. E-documentation of road and transport status, bio-diversity, and bio-productivity; and iii. focus group discussion (FGD) at different level.

3.4       Physical Documentation

Name and address of the structure, duration and design (Fig. 2, 3 and 4) of the structure, total Command area (sq. km), Specific site, High land, Medium High land, Medium low land, Low land, Very low land , water bodies –all in acres.

The materials for documentation were: Agro-productivity status: Previous, and Agro-productivity status; existing: types and description of structures including identity-AEZ: Division-District- structure group-total structures of the specific sites such as: Upazila-Union-Villages-Road name-Site code- year-Road and Bridge/culvert measurement; along with objectives of the road /bridge/culvert as per record about present condition of the roads, bridges and culverts.