...Contents Introduction: 3 Purpose of ICAB: 5 ICAB's Vision: 5 ICAB's Mission Statement 6 ICAB's Aims and Objectives 6 Methodology 7 Affiliation 8 Methodology of ICAB 8 various methods of ICAB in trade, commerce, industry, Finance, etc.: 9 Literature review: 10 ICAB's publications: 10 functions of Charterd accountants engaged in public practises: 11 The role of ICAB 12 Conclusion: 16 References 17 ABSTRACT To meet the ever-changing global economic demands dominated by WTO regime, the ICAB is fast becoming a body of professionals whose have ability. The main research objective is to determine "the development of financial accounting and the role of ICAB". Their literature review describes the main viewpoints in the literature, strategies of various viewpoints and so on. The development of accounting not very easy project or analysis subject in accounting policy. So many companies are trying to do their best to develop their accounting in finance. Which prompt us to formulate some hypotheses; this methodology helps us to see the development of financial accounting as a spot shoot. This methodology also enables us to explain the academic value of our research on this topic; and enable us to define the method and technique of financial accounting. The Institute of Chartered Accountants of Bangladesh (ICAB) has been constantly pursuing that noble duty in the CA professionals. ICAB is the sole apex body responsible for regulating the profession of accountants and the...
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...Technical and non-technical limitations of e-Commerce Lack of security, standardization, reliability | | 2. Insufficient communication bandwidth | The network experiences serious problems of traffic and lack of bandwidth because of the rapid increase of connected users. In addition, the multimedia applications and the booming needs for more entertaining, informative, educational and other content hinder quick access to the services provided through the Internet. In real life terms, this is similar to having to direct 100 trucks through a small road, which was initially designed for 20 passenger cars per minute.Even though the networking technologies are advancing fast, the need for bandwidth is increasing even faster and until this is handled, problems in the quality of services will remain. | 3. Difficulty in integrating e-Commerce infrastructure with current organizational IT systems | Many companies use IT systems, which are old (i.e. Legacy systems) and were developed to support different needs and different kinds of software and applications. These systems contain valuable business information but have to be integrated with the new ones; in many occasions this is extremely difficult. When it comes to full integration with back-office operations, for example, the cost of integrating legacy systems with modern ones may be greater than that of actually scraping them. | 4. Not all customers have access to the Internet | Several countries like the Scandinavian...
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...1. Introduction Accounting standards establish the rules for accounting in a country and prescribe what should be reported in a company’s financial statements in that territory. Their purpose is to ensure that consistent approaches of accounting are adopted nationally. They minimize the risk of material misstatement in accounts and help investors make decisions by ensuring they can get comparable information. Accounting standards, as laid down by a country’s law, are applicable to all companies registered within its territory. But in order to ensure the success, the regulating process must be established. In Bangladesh BFRS and BAS are used as the accounting and reporting standards for the companies. Companies are obliged to follow those standards and laws and some are free from such restrictions. In this assignment, a theoretical analysis has been made regarding the accounting regulation and standard setting process in Bangladesh. 2. Accounting Regulation in Bangladesh All the companies in Bangladesh (both public limited companies and private limited companies) are regulated by The Companies Act of 1994 that provides the basic requirements for the companies. It includes the requirements about financial reporting and accounting practices. But most importantly, this act is silent about either Bangladesh Accounting Standards (BAS) or International Accounting Standards (IAS),. description about the laws and regulations for different types of entities in Bangladesh has been...
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...its accounting policies are implemented and adhered to on a routine basis, typically by an accountant and auditor or a team of accounting professionals. Accounting in Bangladesh: In Bangladesh, the profession of Accountancy developed during the British colonial period. Today it is represented by two professional bodies, the Institute of Cost and Management Accountant of Bangladesh (ICMAB) and the Institute of Chartered Accountants of Bangladesh (ICAB). Chartered Accountants complete their training in practicing firms and specialize in financial accounting, financial audit and tax. CMAs receive particular training in cost audit, management audit and management accounting as well as general accounting and taxation. Both the ICMAB and ICAB are under the administrative control of the Ministry of Commerce. The government of Bangladesh considers both type professional accountants equal in respect of employment in government services. The Generally Accepted Accounting Principles (GAAP) in Bangladesh is based upon standards set by the ICAB which has stated its intention to adopt International Financial Reporting Standards (IFRS). The Institute of Cost and Management Accountants of Bangladesh (ICMAB) It is the only institution in the country dedicated to Cost and Management Accounting education and research. It is managed as an autonomous professional body under the Ministry of Commerce. As well as education, it is also engaged in regulating and promoting the profession of cost and...
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...Letter of Submission To The dean Faculty of Business studies Department of Business Administration Premier University, Chittagong Subject: Submission of the term paper Sir, It gives me immense pleasure to submit my term paper on “Application of Accounting Standard” of “Bank Asia limited” which was assigned to me as a fulfillment of the degree “Bachelor of Business Administration”. I tried to extend the report to a successful one. In this case I used my knowledge gaining at the time of my graduation. While making this report I came across many experiences and I used all of my experience in making the report. Despite several constraints, I gave my all efforts to make this report a meaningful one. I hope you will get the report as informative and accept my report. Sincerely yours, Acknowledgement At the very beginning of my report, I would like to pay my worship and gratefulness to the praiseworthy Almighty Allah who graces me to accomplish this report. I would like to offer my gratitude to our honorable Dean Sir, Prof. Dr. Milan Kumar Bhattacharjee, who gave us the opportunity & also for his kind supervision and providing necessary guidelines in preparing this report. I am also thankful to Ali Arshad Chowdhury, Lecturer of “Premier University” , faculty of Business Studies. Who helped me in abundant conducts to make this report more meaningful. Finally, I thank all the persons who have directly or indirectly contributed...
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...Bangladesh Securities and Exchange Commission (BSEC) The Bangladesh Securities and Exchange Commission (BSEC) was established on 8th June, 1993 as the regulator of the country’s capital market through enactment of the Securities and Exchange Commission Act 1993. Through an amendment of the Securities and Exchange Commission Act, 1993, on December 10, 2012, its name has been changed as Bangladesh Securities and Exchange Commission from previous Securities and Exchange Commission. The Commission consists of a Chairman and four Commissioners who are appointed for fulltime by the government for a period of four years and their appointment can be renewed only for further one term, but the condition is that age cannot exceed 65 in position during the tenure. The Chairman acts as the Chief Executive Officer (CEO) of the Commission. The Commission has overall responsibility to formulate securities legislation and to administer as well. The Commission is a statutory body and attached to the Ministry of Finance. Mission of the BSEC is to: Protect the interests of the investors in securities. Develop and maintain fair, transparent and efficient securities markets. Ensure proper issuance of securities and compliance with securities laws. Financial Accounting Standards Board (FASB) Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organizations in the private sector for establishing standards of financial...
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...parents which provide comprehensive social services and which is duly recognized by the Department Legally-free child • Means a child who has been voluntarily or involuntarily committed to the Department, in accordance with the Child and Youth Welfare Code • RA 6809 (December 18, 1989) Age of emancipation: 18 years Foreign Adoption Agency • Refers to the State welfare agency or the licensed and accredited agency in the country of the foreign adoptive parents that provides comprehensive social services an is duly recognized by the Department • Child-Caring Agency vs Child Placement Agency • Application –Homestudy report –Supporting documents Inter-country Adoption Board • The Inter‐Country Adop1on Board (ICAB) created by Republic Act 8043 (RA 8043) was designated as the Central Authority in matters relating to intercountry adoption of Filipino children. It is a policy making and regulatory body and approves all adoption applications and placements. VISION • To place Filipino children with suitable foreign adoptive families abroad to ensure the protection, security, and the best interests of the children....
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...Brack Bank Corporate Vision Building profitable and socially responsible financial institution focused on Market and Business with Growth potential, thereby assisting BRAC and stakeholders to build a just, enlightened, healthy democratic and poverty free Bangladesh”. Corporate Mission Sustained growth in Small & Medium Enterprise sector Continuous low-cost deposit Growth with controlled growth in retail assets. Corporate Assets to be funded through self-liability mobilization. Growth in Assets through syndications and investment in faster growing sectors. Continuous endeavor to increase non-funded income Keep our debt charges at 2% to maintain a steady profitable growth Achieve efficient synergies between the bank’s branches, SME unit offices and BRAC field offices for delivery of remittance and Bank’s other products and services Manage various lines of business in a full controlled environment with no compromise on service quality Keep a divers, far flung team fully controlled environment with no compromise on service quality Keep a diverse, far flung team fully motivated and driven towards materializing the bank’s vision into reality Core Values Our Strength emanates from our owner - BRAC. This means, we will hold the following values and will be guided by BRAC as we do our work. Value the fact that one is a member of the BRAC family Creating an honest, open and enabling environment Have...
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...Complete set of financial statementsA complete set of financial statements comprises:a) A statement of financial position as at the end of the period; b) A statement of comprehensive income for the period;c) A statement of changes in equity for the period;d) A statement of cash flows for the period;e) Notes, comprising a summary of significant accounting policies andother explanatory information; andf) A statement of financial position as at the beginning of the earliestcomparative period when an entity applies an accounting policyretrospectively or makes a retrospective restatement of items in itsfinancial statements, or when it reclassifies items in its financialstatements. An entity shall clearly identify each financial statement and the notes. Inaddition, an entity shall display the following information prominently, and repeatit when necessary for the information presented to be understandable:a) The name of the reporting entity or other means of identification, andany change in that information from the end of the precedingreporting period; b) Whether the financial statements are of an individual entity or agroup of entities c) he date of the the set of finance d)The name of the reportinBeximco PharmaceuticalIt is also clear that both oreporting period are coved by the set of financial statements or notes. e)Foreign currencies are translated inaccordance with BAS-21 " Information to be presented to the statement of...
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...Executive summary Cash Flow Statement and Disclosure are potentially significant means for management to communicate company’s performance and governance to outside investors. Demand for Cash Flow Statement and disclosure arise from information asymmetry and agency problem between owners and management. The 1st chapter of this report is Introduction. It remain Origin of the project and thesis work, Background of the Report, Objective of the report, General objective, Project objective, Scopes, Methodologies, Data sources, Limitations and Research strategy. The 2nd chapters flash on IAS and BAS, it include History of IAS, Bangladesh Accounting Standard (BAS) Scopes, Current Status of Bangladesh Accounting Standard Data sources, IAS vs. BAS Data collection and IAS 1 Presentation of Financial Statement. The 3rd chapter of this report is Overview of Cash Flow Statement. It includes what is cash flow statement, Objective of cash flow statement, Structure of the Cash Flow Statement, Presentation of a Cash Flow Statement and History of IAS-7. In 4th chapter contains the analysis and findings about some selected companies in Bangladesh which includes Pharmaceuticals industry, Bank Industry, Leasing industry, Textiles industry, Food & beverage industry. And, final chapter of this report contains some finding and recommendations are given to touch the landmark of quality cash flow statement and some similarities & dissimilarities and note disclosure practices. Introduction...
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...The Role of Accounting Accounting is often called “the language of business.” Why? Because it communicates so much of the information that owners, managers, and investors need to evaluate a company’s financial performance. These people are all stakeholders in the business—they’re interested in its activities because they’re affected by them. In fact, the purpose of accounting is to help stakeholders make better business decisions by providing them with financial information. Obviously, you wouldn’t try to run an organization or make investment decisions without accurate and timely financial information, and it’s the accountant who prepares this information. More importantly, accountants make sure that stakeholders understand the meaning of financial information, and they work with both individuals and organizations to help them use financial information to deal with business problems. Actually, collecting all the numbers is the easy part—today, all you have to do is start up your accounting software. The hard part is analyzing, interpreting, and communicating the information. Of course, you also have to present everything clearly while effectively interacting with people from every business discipline. In any case, we’re now ready to define accounting as the process of measuring and summarizing business activities, interpreting financial information, and communicating the results to management and other decision makers. Fields of Accounting Accountants typically work in...
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...hiçbir eleman yoktur. " "SF6 tipi kesicilerde kullanılan ve de zaman içinde eskiyip sızıntılara sebebiyet verebilecek contalı bağlantılar yoktur. " Vakum tüpü elemanları tamamen lehim / kaynak tekniği ile bir araya getirilmiştir. Kontak yüzeyleri zamanla okside olur. Vakumda oksidasyon olmadığından, kontak yüzeylerinin okside olması mümkün değildir. "SF6 gazlı kesicilerde elektrik arkının aşındırma ve oksidasyon tesiri yüksek olduğundan, kontakların direnci zaman içinde yükselmektedir. " Kontak direnci , şalterin ömrü boyunca değişmez. "SF6 gazlı kesicilerde, arkın etkisiyle zaman içinde SF6 gazında ayrışım maddeleri oluşmaktadır. Bunların temizlenmesi şarttır. Temizleme işlemi ise, zor ve masraflıdır. Kesici kutubunun sökülmesi icab eder; bu iş de normal olarak sadece kesicinin fabrikasında yapılabilir. " "Vakum kesiciler bakımsızdır. Ömrü boyunca bakım gerektirmez. Sadece 5-10 senede bir mekanizmanın belirli noktalarının yağlanması yeterlidir. " "Normal olarak SF6 kesiciler, tiplerine göre: - Nominal işletme akımını 2.000 - 10.000 defa, - Nominal kısa devre akımını 10-50 defa açabilirler. Mekanik işletme ömrü 3.000 açma/kapama civarındadır. " "Normal olarak vakum kesiciler, tiplerine göre: - Nominal işletme akımını 10.000 - 30.000 defa, - Nominal kısa devre akımını 30-100 defa açabilir. Vakumlu kesicinin mekanik ömrü 10.000 açma / kapama işlemidir " Elektrik arkını söndürmek için tükettiği enerji vakum tiplerine göre daha yüksektir ve...
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...Samson H. Chowdhury was born in 25 September 1925 into Pabna Bangladesh. He was an entrepreneur in Bangladesh. He was a Chairman of Astras Ltd. and Square (Bangladesh). Education Samson H. Chowdhury was born on 25 September 1925. He studied at Senior Cambridge. He completed a management training course jointly sponsored and conducted by University of Dhaka and Harvard University. Work After completing his education he returned to what was then East Pakistan and settled in Ataikula village in the Pabna district, where his father was working as a medical officer in an outdoor dispensary. In 1952 he started a small pharmacy in Ataikula village which is about 160 km off capital Dhaka in the north-west part of Bangladesh. . He served as a vice president of the Baptist World Alliance from 1985 to 1990. In addition to being a BWA vice president, Chowdhury served in other areas of the global Baptist organization, including on the BWA General Council, the Executive Committee, the Baptist World Aid Committee, the Promotion and Development Committee, and the Memorial Committee. Chowdhury was elected president of the Bangladesh Baptist Church Fellowship (BBCF) a dozen times, and was honorary general secretary for 14 years, between 1956 and 1969. He was a president of both the National Church Council of Bangladesh and the National Evangelical Alliance. Recognition Chowdhury was recognized as a Global Business Leader in his country. He had been awarded with various...
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...Abstract Creative accounting, as a matter of approach, is not objectionable by itself. However, when unethical elements make intrusion, the resultant accounting details become anything but true and fair. Creativity in such context is like referring to a half glass of water as half-full instead of describing it as half empty. While both statements are factually correct, they paint different picture and thus convey different images. Creativity in company accounting may arise under at least three different financial market conditions. The first is when a company floats its shares to attract investors to subscribe to such shares either at par or at a premium, depending on the financial market evaluation of the company’s future prospects. The second is when the company whose shares are already listed in a stock exchange, wants to paint an attractive picture of its financial conditions so that the shares may be quoted at a premium. Finally, a company having its shares listed in the stock exchange may declare and pay high dividends based on inflated profits through overvaluation of assets, undervaluation of liabilities and change in systems of stock valuation that may boost the image of the company at least in the short run. Unethical considerations in creative accounts have developed to such depths that terms like fraud audit and forensic accounting have gained currency and are becoming new professions. Accounting practitioners and auditors are increasingly required to appear...
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...BRAC University Internship Report on “Financial Performance Analysis of Prime Bank Limited” (2008-2012) Supervised by Tasneema Afrin Lecturer BRAC Business School BRAC University Submitted by Srabanti Singha ID: 09304035 Date of submission: May 30th 2013 Letter of Transmittal May 30, 2013 Tasneema Afrin Lecturer BRAC Business School BRAC University Subject: Submission of internship report on “Financial statement analysis of “Prime Bank Limited” from year 2007-2011. Dear Madam . I am highly delighted to submit the internship report of my three months long internship program in Prime Bank Limited at Banani Branch. The title of the report is “Financial Performance Analysis of Prime Bank Limited (2008-2012)”. This report has been prepared to fulfill the requirement of the internship program in Prime Bank Limited. It has been an interesting and very enlightening experience for me to work in Prime Bank Limited- Banani Branch. I have tried my level best to reflect my three months long work experience in this report and also tried to make this report a successful one. I would like to express my sincere gratitude to you for your kind guidance & suggestions in preparing the report. It would be my great pleasure for me if you find my report informative and useful to have an idea of recent state of Prime Bank Limited. Sincerely yours …………………………………… Srabanti Singha ID: 09304035 BRAC Business School BRAC University Acknowledgement ...
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