June 10, 2011

FRS 139 - Financial Instruments:Recognition and Measurement

Common examples of financial instruments are:
  • cash
  • demand and time deposits
  • commercial paper
  • AR & AP
  • Notes Receivables & Payables
  • Loans Receivables & Payables
  • Debt and Equity Securities
  • Asset Backed Securities
  • Options
  • Rights
  • Warrants
  • Futures contracts
  • Forward contracts
  • Swaps

Technology Ahead

Technology has been around us for decades. What is important is that, how much we benefit from it? And how does technology transforms organization towards achieving its objective. "Technology is key to achieving higher operational efficiency and innovative capability" says Tan Sri Dato' Sri Dr Teh Hong Piow.

Technology speed up operation, manage customer relationship and educate its staff on product offerings. Various organization uses technology as part of their operation counter-back element. Loan processing, product making, ticketing, service delivery are common element of technology advancement  while managing customer relationship are common to hotel and service industry.

Technology permits greater efficiency and scale yield cost advantages that enable us to provide competitive lending and deposit rates as well as superior service. Bank of Philippine Islands for example, reports a yoy 33% income increase and 16% loan growth, as well as continued market leadership in electronic banking,consumer loans,asset management,cash management and insurance.Source: Reader's Digest June 2011)

This has proven that technology actually transform the whole set of attitude towards achieving organization's goal tandemly. Product offerings also at ease and affordable to potential customers. Banks that fully utilized its
 technology advancement are always on top of others. They are more close to potential customer in terms of managing capabilities, trustworthiness and also contentment..