Ppt on credit policy accounts

Money Power Review Joanie McGlinn. 35 Questions Question 1 Question 1 Which of the following is considered to be open-end credit? A A mortgage. B A car.

Federal Reserve Board. Question 32 Question 32 The National Credit Union Administration (NCUA) insures accounts in: A Credit unions B Commercial banks C Brokerage firms D Savings banks Question 33 Question 33 Frankies savings account has earned a lot of interest. He wants to/the interest on that money. D a calculated amount of money that must be converted to a term life insurance policy. Question 48 Question 48 A person buys a flat screen, plasma, theater-like television. The person has homeowners insurance/

Procedural Aspects in Inbound Investments 07 November 2015 Impact Seminar on ‘Inbound Investment – Policies, Opportunities & Challenges’ By NIRC of ICSI.

above, provided the right to receive dividend is established and the dividend amount has been credited to specially designated non –interest bearing rupee account for acquisition of shares on the floor of stock exchange. iii. The pricing for subsequent/ of Shareholders  Prior intimation to RBI  Certificate from the Company Secretary stating compliance of FEMA and FDI Policy Shares purchased under Portfolio Investment Scheme cannot be transferred by way of sale under private arrangement Except NRIs can /


8 OVERVIEW OF RISK-PROFILING OF INSTITUTIONS (cont’d) 1. Analysis of Structural Factors and Component of KYI (Cont’d)  Growth Policies: Aggressive vs. conservative.  Funding Sources: Equity, deposits, borrowing.  Liquidity: Surplus vs. shortage.  Solvency and Earnings: Strong vs/and luxury goods, and other related businesses that deal in high value luxury goods. The total credit balances for accounts operated by this category of clients should be reported here. SECURITY BROKERS AND AGENTS, MUTUAL /

Credit RISK MANAGEMENT in Banks (Basel Norms) Ramesh Subramanian M.com., C.A.I.I.B.,F.C.S.,LL.M.,ACMA.,CIMA Adv.Dip.MA (UK) June 11, 2016.

weights translate into increase in interest rates, demand for credit may come down. On the other hand, varying provisioning requirement would be potentially more effective as it would impact the Profit and Loss account of banks to which banks are more sensitive” (Sinha). Evolution of Monetary Policy, Macro Prudential Policy and Micro Prudential Policy Evolution of Monetary Policy “The Reserve Bank of India Act, 1934 provides/

> Ind AS11 Construction Contracts and Ind AS 18 Revenue > IND AS 101:- First Time Adoption of Indian Accounting Standards Awareness programme on IND AS.

Royalty on accrual basis based on substance of arrangement - Dividend based on holder’s right to receive is established Disclosure Consensus: Accounting policies Methods to determine the stage of completion Revenue by category - Sale of goods - Rendering of services - Interest - Royalties/ within the same chain, for discounted goods or services More complex arrangements, which includes award credits that entitle the holder to discounted goods or services provided by another entity ( for example purchases/


8 OVERVIEW OF RISK-PROFILING OF INSTITUTIONS (cont’d) 1. Analysis of Structural Factors and Component of KYI (Cont’d)  Growth Policies: Aggressive vs. conservative.  Funding Sources: Equity, deposits, borrowing.  Liquidity: Surplus vs. shortage.  Solvency and Earnings: Strong vs/and luxury goods, and other related businesses that deal in high value luxury goods. The total credit balances for accounts operated by this category of clients should be reported here. SECURITY BROKERS AND AGENTS, MUTUAL /

Credit Union Risk Management… CUNA Mutual Benchmarking Team

it – Sign it RMLearningCenter.com The Fraud Policy Honesty & Accountability Sets tone from the top, Provides meeting of the minds, Defines what’s not permitted, Gives grounds for discipline or dismissal, Saves legal costs, Protects reputations, Review it, update it and Sign it annually! RMLearningCenter.com To Catch a Thief! “These Should Be Required” Credit Committee Separation of duties Loan officer minute controls/

Credit Card Data Security Compliance Achieving PCI Compliance July 2009 Kim Ray Billing and Payment Services Campus Credit Card Coordinator Karen Eft IT.

Cash-Handling Policy (BUS 49) –Violation of the intent of section 4(a) in the Uniform Commercial Code The Campus Controller may grant a variance –Such a request must provide detail of the compensating controls in place to secure the data Accepting Credit Card Data by Fax Obtain Credit Card Number How we Accept Credit Cards UCs Acquiring Bank: Issues Merchant Account NumbersIssues Merchant Account Numbers/

Working Capital Management

Offering discounts Bad-debt losses Must analyze relationship of these costs to profitability Marginal cost of credit must be compared to expected marginal profit resulting from credit terms Accounts Receivable Management Example Credit Policy A (see Exhibit 10.1) Credit terms: 2/10, net 60 Average collection period: 50 days Expected sales: $75,000,000 Income after tax: $8,700,000 Return on sales: 11.6/

Credit Management & Billing Issues in Law Firms Law Institute of Victoria Melbourne Prepared & Presented by Colin Prosser FICM CCE The Credit Professionals.

) Support Partners ( Equity ) Support Engagement / Retainer Letters Engagement / Retainer Letters Opening Accounts Opening Accounts Billing Customers Billing Customers Collection Follow Up Collection Follow Up Handling Disputes Handling Disputes WIP & Disbursements WIP & Disbursements Trust Accounts Trust Accounts Credit Policy & Procedures Example Credit Policy & Procedure; is part of handout paperwork. Example Credit Policy & Procedure; is part of handout paperwork. Must have Equity Partners agreement/

Copyright 2005 by Thomson Learning, Inc. Chapter 6 Credit Policy and Collections Order Order Sale Payment Sent Cash Placed Received Received Accounts Collection.

deductions –improve monitoring and collections using benchmark data v Organizational integration and key account management –develop better understanding of needs and wants of key accounts –prioritize accounts by potential value –make credit terms and policies integral part of well designed sales and marketing offering Copyright 2005 by Thomson Learning, Inc. International Credit Management v Credit policy analysis –lengthening terms increases exchange rate risk –also increases default risk –harder/

Credit Control ( AR Management)

The average collection period Economic conditions cannot be controlled, but a business can control its collection policies with an effect on both sales and average collection period. CREDIT POLICIES There are four elements of a credit policy: Credit Period Cash Discounts Credit Standards Collection Policy 3 Accounts Receivable Management: The Five Cs of Credit Character: The applicant’s record of meeting past obligations. Capacity: The applicant’s ability to repay/


for low income individuals MICHIGAN STATE UNIVERSITY CENTER FOR URBAN AFFAIRS Current Activity: Field Testing and Impact Evaluation: – EITC/Child Tax credit access in eight Michigan sites – Access to savings accounts and financial education through CDCUs Research Areas: – Current state tax policy around income support – IDAs, Microenterprise, Financial Products through CDCUs – Cost efficient methods of going to scale with IDAs as income support/

Supervisory Committee Duties and Responsibilities

(this should be done quarterly) Review of Internal Controls Internal Controls include the staff structure, operating procedures, and other measures within the Credit Union to: Safeguard assets Check the accuracy and reliability of accounting data Promote efficiency Encourage compliance with policies set forth by the Board of Directors Internal Controls minimize the possibility that errors or fraud remain undetected for any length of/

Credit Insurance Accounts Receivable Insurance presented by Aon Reed Stenhouse Inc. Calgary May 18, 2010.

– Typically the aggregate sum of qualifying losses that the Insured shall bear on its own account. Could also be in the form of a per buyer deductible. Discretionary Credit Limit – The amount up to which the Insured may extend credit without the underwriter’s endorsement. 15 Credit Insurance 15 Policy Terminology Non-Qualifying Losses – The amount up to which a loss is borne in its/

RI Accounting for Proportional Treaties

method; Optional i.e. free choice to decide; Single risk method; Full disclosure of all facts. Follows all original policy conditions Facultative RI Advantages In case of a small portfolio, where Treaty is unattractive; Where risk is outside the scope /included “Paid Claims” of statement of account & CL Credit is given to reinsurers who have paid the claim. Submission of SOA At regular intervals, a: treaty account will be dispatched to all reinsurers. The account will contain technical and financial items /

Accounting for Interest Rate Derivatives FAS ASC 815

IRR Evaluation of “hedge accountingCredit Unions Must Apply for Authority to Use Derivatives Demonstrate how derivatives will mitigate IRR Detail derivatives the CU intends to use and why Have policies in place Detail how credit union will acquire appropriate resources/does not recommend the short-cut method, because if you fail, you cannot reassess. We recommend that a credit union account for the swap using the long-haul method, recognizing that swaps that would qualify for the short-cut method/

Career options after 12 Commerce stream.

any major decision. They advise on the tax effect of performance goals. Management accounting Management Accounting is a task senior chartered accountants perform. They collect, organise, collate and analyse information from all parts of /agricultural products Locate optimum markets and deal with agricultural financing. Financial economists Develop monetary policies and predict financial activity. Examine credit structures and collection, banking methods and procedures to devise techniques for regulation of /

University of Virginia Fund Accounting & Internal Controls.

of all customer records including names, addresses, phone numbers, bank account and credit card numbers, income, credit histories, and social security numbers 41 Credit Cards Financial Policy I.A.1 If the department accepts credit cards (in person or over the web), any credit card numbers collected are stored, protected and destroyed in accordance with Financial Policy and University Guidelines (contact Banking Services 924-4362). 42 Responsibility to/

UCSF Cash Policy Highlights

… Cash Coordination and General Questions Cash Handling and Deposits Contacts page Cash Reconciliation Cash/Check Deposits Unclaimed Checks Credit Card Charges Petty Cash Cash Journals Approval Sundry Receivables Financial Reporting Contacts page Intercampus / Financial Control Account Fund Profile Policy and Procedural References Topic References UCOP Policies BUS 49 Policy for Handling Cash and Cash Equivalents C-173-78 Unclaimed and Uncashed Checks UCSF Financial Administrative/

© 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers Chapter 12 Working Capital.

.Debt collection procedures; 6.Receipt of cash. © 2012 Jones et al: Strategic Managerial Accounting: Hospitality, Tourism & Events Applications 6thedition, Goodfellow Publishers Credit Control Management when formulating a credit control policy must consider the following factors: 1.Cost of managing accounts receivable 2.Procedures for controlling credit 3.Capital required to finance credit 4.Credit terms and allowing discount for prompt payment 5.Creditworthiness of customers © 2012 Jones et/

Overview of Credit Policy and Loan Characteristics

14.1, 14.2, & 14.3 Cash Purchases for 2008: Cash Purchases = -(COGS + ΔInventory – ΔAccounts Payable) Evaluating Credit Requests: A Four-Part Process Cash-Flow Analysis For Prism Industries Cash Flow From Investing Activities ΔNet Fixed Assets = / CRA by mandating public disclosure of bank lending policies and regulatory ratings of bank compliance Consumer Credit Regulations Community Reinvestment Act Regulators must also take CRA compliance into account when evaluating a banks request to charter a new/

Understanding and Using Financial Statements

Statements Andrew Graham Queens University School of Policy Studies SPS 827 2014 Structure of the Day Double Entry and the Dreaded Debits and Credits Accounting Cycle and the Fundamental Accounting Equation Financial Statements Architecture Section 1 The Accounting Cycle Double-Entry Bookkeeping Each financial event is called a transaction The effect of a transaction is recorded in the accounts by an entry Each entry will affect/

Book Keeping - MODULE – B CA R. C. JOSHI B.Com(Hons.),LL.B,CAIIB,FCA



warranty claims to the factory and distributors for defective parts. Confirm criteria required by manufacturer and distributor. Enter credits on computer. Make arrangements for parts to be discarded or shipped to factory or distributor. Follow up with / claims immediately. File sales documents after they are entered and commissions paid. Reconcile selected vendor accounts. Preventative Maintenance Policy The organization has made a commitment to ensure that all tools and equipment will be properly maintained/

Jyoti Kumar Pandey Deputy General Manager & MOF CAB, Pune

periodical statements submitted by the borrower Physical inspection of securities and books of accounts of the borrower Periodical reviews etc. Bankers’ Credit Report Includes seeking information including other banks – (writing or over telephone / loans to ensure appropriate restructuring schemes A conservative policy for the provisioning of non-performing advances should be followed Policy Framework (Contd.) Strategy and Policy: Credit policies and procedures of banks should necessarily have the following/

Credit Risk Management

not affected by price risk. This is due that loans were held to maturity, accounting doctrine required book value accounting treatment. As banks develop more active portfolio management practice and the market for loans / Credit Risk Management Credit Risk Management in Banking Industry Credit Risk Management Credit Policy Administration Guidelines The credit policy administration is responsible for the day- to-day supervision of the loan policy. If policy needs to be supplemented or modified, credit policy /

Analyzing Transactions

1 2005 1 2 3 4 Prepaid Insurance 2 400 00 Cash 2 400 00 Paid premium on two-year policy. ACCOUNT Prepaid Insurance ACCOUNT NO. 15 Balance Post. Ref. Date Item Debit Credit Debit Credit Dec. 1 2005 2 400 00 2 400 00 JOURNAL Page 2 Dec. 1 1 2 3 4 Prepaid Insurance/ 2005 1 2 3 4 Prepaid Insurance 2 400 00 15 Cash 2 400 00 Paid premium on two-year policy. ACCOUNT Prepaid Insurance ACCOUNT NO. 15 Balance Post. Ref. Date Item Debit Credit Debit Credit Dec. 1 2005 2 2 400 00 2 400 00 JOURNAL Page 2 1 2 3 4 Dec. 1 /

Accounts Receivable and Inventory Management

between profitability and costs involved. Understand how the level of investment in accounts receivable is affected by the firms credit policies. Critically evaluate proposed changes in credit policy, including changes in credit standards, credit period, and cash discount. Describe possible sources of information on credit applicants and how you might use the information to analyze a credit applicant. Identify the various types of inventories and discuss the advantages and/

Corporate Financial Management 3e Emery Finnerty Stowe

June $4,000 $22,500 $16,500 $7,000 8% 45% 33% 14% 92% 47% 0% Totals $50,000 100% Pursuing Delinquent Accounts Letters Telephone calls Personal visits Collection agencies Legal proceedings Changing Credit Policy Credit policy can be changed by changing: credit terms credit standards collection policies A change in the credit policy affects: sales cost of goods sold bad debt expense carrying costs of receivables administrative costs Changing/

Welcome to this Presentation Banks Credit Rating

in place. Dynamics of the Asset & Liability Management Committee (ALM) towards the different types of risk. Hedging strategies (if any), and management view on hedging transactions. Banks Credit Rating Rating Procedures for Banks Risk Management (Market Risk) Audit function (e.g. both internal & external auditors) Accounting policies (i.e. consistency vs change) Back office operations (e.g. valuation positions, organization, disaster recovery procedures/

RBI and Monetary Policy in India

to the public and banks. RBI when purchases securities, pays the amount of money by crediting the reserve deposit account of the seller’s bank, which in turn credits the seller’s deposit account in that bank. RBI Annual Policy Statement for 2006-07: April 18, 2006 Highlights Focus on credit quality and financial market conditions for maintaining macroeconomic, in particular, financial stability. Monetary and interest/


of Credit Policy Development of credit standards Development of credit standards –profile of minimally acceptable credit worthy customer Credit terms Credit terms –credit period –cash discount Credit limit Credit limit –maximum dollar level of credit balances Collection procedures Collection procedures –how long to wait past due date to initiate collection efforts –methods of contact –whether and at what point to refer account to collection agency Credit-Granting Decision Development of credit standards/

Stephen G. CECCHETTI Kermit L. SCHOENHOLTZ Monetary Policy: Stabilizing the Domestic Economy Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights.

of numerical target, Commitment to price stability as primary objective, and Frequent public communication. Inflation targeting increases policymakers’ accountability and helps to establish their credibility. The result is not just lower and more stable inflation but usually higher/). When the central bank supplies aggregate reserves beyond the quantity needed to lower the policy rate to zero. 18-100 Unconventional Policy Tools 3.Credit easing (CE). When the central bank alters the mix of assets it holds on/

Integrated Funds Control Distribution, Accounting Activity And Procurement Part II – Budget and Accounting 1.

2http://www1.va.gov/vapubs/viewPublication.asp?Pub_ID=137&FType=2 – Cost Center and Budget Object Codes Policy http://www1.va.gov/vapubs/viewPublication.asp?Pub_ID=140&FType=2http://www1.va.gov/vapubs/viewPublication.asp?Pub_ID/PC Listing Delinquent Reconciliations Fiscal Daily Review History of Purchase Card Transactions IMPAC Account Information Incomplete Purchase Card Orders Report Print Unregistered Credit Card Charges Purchase Card Information List Purchase Card Statistics Purchase Card Timely /

Travel Card Training Statewide Accounting and Reporting Services April 12, 2007.

Division, SARS  Corporate card provider is US Bank  Available to state employees who travel, subject to US Bank credit standards Corporate Travel Card Program  Program includes:  Individual personal liability travel cards  CTS accounts (ghost accounts) paid by state agencies Use of Personal Credit Card  OAM Policy 40.20.00 GSPC Advisory Opinion 01A-1006 GSPC Advisory Opinion 01A-1006  Provision regarding travel awards earned from/

Evaluating Commercial Loan Requests 1 14. Evaluating Commercial Loan Requests and Managing Credit Risk Important Questions Regarding Commercial Loan Requests.

Institutions Reform, Recover, and Enforcement Act of 1989 raised the profile of the CRA by mandating public disclosure of bank lending policies and regulatory ratings of bank compliance Consumer Credit Regulations Community Reinvestment Act Regulators must also take CRA compliance into account when evaluating a banks request to charter a new bank, acquire a bank, open a branch, or merge with another institution/

Amity International Business School Credit Appraisal and Project Finance Module No 4 & 5 By Mr. Navneet Saxena All The Best From.

School Banks Arranging banks Syndication Facility agent Technical bank Insurance bank Account bank Amity International Business School Banks Multilateral & Export Credit Agencies political risk insurance commercial risk insurance insurance again adverse currency/Amity International Business School Economic Aspects Economic development differs from economic growth. Whereas economic development is a policy intervention endeavour with aims of economic and social well-being of people, economic growth is a /

Presented By Daniel R. Loritz, Esq. OKUN LORITZ, LLP Loan Workouts, Nonaccrual Policy & Reporting TDRs.

reporting TDRs. In order for credit unions to file the data related to loans placed in “nonaccrual” status in accordance with the Final Rule and the IRPS, they must have written nonaccrual policies and loan workout policies in effect at the beginning of the quarter. Therefore, these policies must be in place no later than October 1, 2012. Nonaccrual PolicyAccounting Treatment - What Do You Have/

Copyright © by Houghton Mifflin Company. All rights reserved.1 Principles of Accounting 2002e Belverd E. Needles, Jr. Marian Powers Susan Crosson - - -

Houghton Mifflin Company. All rights reserved.18Discussion Q. Q. Indicate whether each of the following is related to (a) managing cash needs during seasonal cycles, (b) setting credit policies, or (c) financing receivables. 1. Selling accounts receivable to a factor. 2. Borrowing funds for short-term needs during slow periods. 3. Conducting thorough checks of new customers’ ability to pay. 4. Investing cash/

BUS 204 Credit & Collections Spring 2006 copyright, SJH Credit & Collections For Small Business.

need to prove that you DID honor the transaction, do it in a timely fashion. If you honor refunds, honor them promptly. Check frequently with your merchant account banker to make sure your credit stays healthy! Credit Basic Documents A written Credit Policy Loan Application Form Request for Credit Information Form Purchase Agreement or Purchase Order Loan Agreement Security Agreement (if loan is collateralized) Your Written/

De Nederlandsche Bank Eurosysteem The Monetary Policy Framework of the Eurosystem, liquidity and Collateral Management Richard Derksen Conference Financial.

-term interest rates short-term interest rates De Nederlandsche Bank Eurosysteem Monetary policy instruments: Minimum reserve requirements Credit extension to banks via Credit extension to banks via Open Market Operations Open Market Operations Main refinancing / period banks have on average to maintain a certain percentage of certain banks’ balance sheet items (2%) on an account at the central banks  Create / increase money market shortage (counterparties vis à vis Eurosystem) (counterparties vis à /

FASB Update Rahul Gupta Practice Fellow Financial Accounting Standards Board August 20, 2015 1 The views expressed in this presentation are those of the.

annual reporting period shown in aggregate  Reconciliation between purchase price and par value of purchased assets with credit deterioration Loans Held for Investment and Held to Maturity Securities Summary of Disclosure Requirements 54 Policy Disclosures  Policy for charging off uncollectible debt instruments  Changes to the entity’s accounting policies or methodology from the prior period, including the overall quantitative effect of the change  Significant changes/

Review of a Company’s Accounting System C hapter 3 COPYRIGHT © 2010 South-Western/Cengage Learning Intermediate Accounting 11th edition Nikolai Bazley.

,000 shares of no-par stock at $10 per share. Mar. 30Prepaid Insurance360 Cash360 Purchased a 1-year comprehensive insurance policy. On March 30, Dapple Corporation purchased a one- year comprehensive insurance policy. 33 GENERAL JOURNAL Date Account Titles and Explanations Debit Credit Adjusting Entries Dec. 31Insurance Expense270 Prepaid Insurance270 To record expiration of 9 months of insurance coverage purchased on March 30. By/

Credit Supply Management & Economic Sustainability: The Legislative Bubble-Shrinker.

limit’s manifest blind spots, notably its failure to take account of credit risk and off-balance-sheet items. This ratio is designed to reflect the credit risks posed to an institution by various categories of assets in/independent” (defined)  Compensation must not be linked to performance Recent Developments, Continued Proposed Legislation (cont’d)  Requires that Policies and Procedures are spelled out for how ratings are done, how conflicts of interest are managed and disclosed, how compensation and /

Prepared by: C. Douglas Cloud Professor Emeritus of Accounting Pepperdine University © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned,

DateDescriptionDebitCredit Page 2 12341234 Dec.1 2011 Prepaid Insurance2 400 00 Cash2 400 00 Paid premium on two-year policy. 15 ACCOUNT Cash ACCOUNT NO. 11 Balance Debit Credit Date Debit Credit Item Post. Ref. 2 000 00 5 900 00 Nov.30 2011 2 Dec. 1 2 400 / Page 2 12341234 Dec.1 2011 Prepaid Insurance2 400 00 Cash2 400 00 Paid premium on two-year policy. 15 ACCOUNT Cash ACCOUNT NO. 11 Balance Debit Credit Date Debit Credit Item Post. Ref. 2 000 00 5 900 00 Nov.30 2011 2 2 400 003 500 00/


Debit entries in an asset account Debit entries in an expense account Credit entries in a liability account Credit entries in equity account Credit entries in a revenue account Credit entries in an asset account Credit entries in an expense account Debit entries in a liability account Debit entries in equity account Debit entries in a revenue account Balance increasesBalance decreases The Debit-Credit Convention Disclosure requirements of IAS 18: ---Accounting policies for revenue recognition, including the/

U.S. Monetary Policy Since Late 2007 Winthrop P. Hambley Senior Adviser April 15, 2014 1.

“encouraged” borrowers to refinance before rates reset in order to avoid the higher rates. 14 Recent Monetary Policy Because credit had been easily available, and home prices had been increasing, borrowers had thought they could easily refinance /realized and expected—toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations/

Higher Education in Connecticut Higher Education Coordinating Council 2015 Accountability Report.

Readiness Indicator 4 – Percent on track to completing on-time Connecticut State Universities - Full-Time student completing 24 credits in 1 st academic year Sources: Numerator: Connecticut State Universities Denominator: Integrated Postsecondary Education Data System (IPEDS) Calculation/ from the General Purpose Financial Statement at http://accountingoffice.uconn.edu/accounting/PDF/2012FS.pdf, p. 10. Prepared by the CT Board of Regents Office of Policy and Research, July 22, 2013 * Branch data for the /

Public Finance and Public Policy Jonathan Gruber Third Edition Copyright © 2010 Worth Publishers 1 of 29 Taxes on Labor Supply 21.1 Taxation and Labor.

savings that accounts for the fact that individual savings serve, at least partly, to smooth consumption over future uncertainties. liquidity constraints Barriers to credit availability that limit the ability of individuals to borrow. Public Finance and Public Policy Jonathan /-free basis. 22.3 Tax Incentives for Retirement Savings Available Tax Subsidies for Retirement Savings Keogh Accounts Public Finance and Public Policy Jonathan Gruber Third Edition Copyright © 2010 Worth Publishers 37 of 29 C H A P T/

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