Accounting and Financial System at Union Trust Bank Limited

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Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Abstract

In the research study we have conducted the financial analysis of the Union Trust Bank. The Union Trust Bank Limited is one of the leading banks of the Sierra Leone. It started the business in April in the year 1995 by providing financial services in the rural areas of the country. The bank started its operations as the private limited liability company and is a single bank that is owned by the country Libraries including online databases were accessed to get the most relevant and updated literature. Some of the online databases that were used are: EBSCO, Emerald, Blackwell, etc. It can be concluded that the Union Trust Bank Ltd. is one of the leading banks in the Sierra Leone. It is the only bank in the country that offers financial service to the rural areas of the country. Being the private limited company, the bank is also extending loan to the businesses operating in the agricultural sector

Table of Contents

CHAPTER 1: INTRODUCTION8

Background8

Stakeholders of the bank9

Corporate Governance9

Accounting Software in the bank10

Role of Accounting11

CHAPTER 2: FINANCIAL ACCOUNTING ANALYSIS13

Financial Accounting13

Analysis of Balance Sheet13

Financial Ratios14

Notes to Financial Statement15

Ethical Issues in Union Trust Bank Ltd16

CHAPTER 3: MANAGEMENT ACCOUNTING ANAYLSIS)18

CHAPTER 4: METHODOLOGY20

Search Technique21

Literature Search22

Inclusion and exclusion criteria23

Search terms - key terms23

Additional Online searches24

Management24

Search rationale24

Critical Appraisal tool25

Appraisal limitation25

Reliability and validity25

Ethical consideration27

CHAPTER 5: CONCLUSION28

REFERENCES29

CHAPTER 1: INTRODUCTION

Background

The Union Trust Bank Limited is one of the leading banks of the Sierra Leone. It started the business in April in the year 1995 by providing financial services in the rural areas of the country. The bank started its operations as the private limited liability company and is a single bank that is owned by the country. At beginning, the bank was operating on the small scale and was providing limited financial services in the country. However, with the passage of time, the bank has increased in its size and operations. The Union Trust Bank Limited has the ownership of 45% of shares in Finance Salone as well that is the leading microfinance organization in the country. The objective of the bank is to promote the effective, reliable and long lasting financial institution that will help in exploring the valuable human resources within the country so that the national wealth of the country can be enhanced. Moreover, it is also the part of the bank's objective to make certain the development of the financial system within the country(Jafry & Schuermann, 2004, 2603).

The Union Trust Bank Ltd. is the only financial institution in the country that primarily ...