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Financial Reporting Act 2015
The Financial Reporting Act 2015 (known as FRA 2015) is an act created by the Bangladesh National Assembly. The act was passed on September 6, 2015, in order to follow the accountability and transparency of the financial reporting procedures in the country. On September 9, 2015, the act was officially published by the Government of Bangladesh. Accountancy in Bangladesh The Institute of Chartered Accountants of Bangladesh (ICAB) is the only governing body for regulating the country's chartered accountants, while the Institute of Cost and Management Accountants of Bangladesh (ICMAB) is for the cost and management accountants. In order to monitor the ICAB and ICMAB, the Financial Reporting Council (FRC), with 12 members, formed a body under the act to ensure accountability and performance among the chartered accountants and management accountants in Bangladesh. Moreover, the council will be a statutory body with expert members from various government bodies, institutions and profess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangladesh National Assembly
The Jatiya Sangsad ( bn, জাতীয় সংসদ, lit=National Parliament, translit=Jatiyô Sôngsôd), often referred to simply as the ''Sangsad'' or JS and also known as the House of the Nation, is the supreme legislative body of Bangladesh. The current parliament of Bangladesh contains 350 seats, including 50 seats reserved exclusively for women. Elected occupants are called Member of Parliament, or MP. The 11th National Parliamentary Election was held on 30 December 2018. Elections to the body are held every five years, unless a parliament is dissolved earlier by the President of Bangladesh. The leader of the party (or alliance of parties) holding the majority of seats becomes the Prime Minister of Bangladesh, and so the head of the government. The President of Bangladesh, the ceremonial head of state, is chosen by Parliament. Since the December 2008 national election, the current majority party is the Awami League led by Sheikh Hasina. Etymology The Constit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Bangladesh
The Government of the People's Republic of Bangladesh ( bn, গণপ্রজাতন্ত্রী বাংলাদেশ সরকার — ) is the central executive government of Bangladesh. The government was constituted by the Constitution of Bangladesh and represented by the president, the prime minister and the cabinet of Bangladesh. The legislature represented by the Jatiya Sangsad, and the judiciary, represented by the Supreme Court of Bangladesh. Bangladesh is a unitary state and the central government has the authority to govern over the entirety of the nation. The seat of the government is located in Dhaka, the capital of Bangladesh. The executive government is led by the prime minister, who selects all the remaining ministers. The prime minister and the other most senior ministers belong to the supreme decision-making committee, known as the Cabinet. The current prime minister is Sheikh Hasina, leader of the Bangladesh Awami League, who was sworn-in by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Chartered Accountants Of Bangladesh
An institute is an organisational body created for a certain purpose. They are often research organisations (research institutes) created to do research on specific topics, or can also be a professional body. In some countries, institutes can be part of a university or other institutions of higher education, either as a group of departments or an autonomous educational institution without a traditional university status such as a "university institute" (see Institute of Technology). In some countries, such as South Korea and India, private schools are sometimes referred to as institutes, and in Spain, secondary schools are referred to as institutes. Historically, in some countries institutes were educational units imparting vocational training and often incorporating libraries, also known as mechanics' institutes. The word "institute" comes from a Latin word ''institutum'' meaning "facility" or "habit"; from ''instituere'' meaning "build", "create", "raise" or "educate". ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Cost And Management Accountants Of Bangladesh
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is an institution dedicated to Cost and Management Accounting education and research in Bangladesh. It is managed as an autonomous professional body under the Ministry of Commerce (Bangladesh), Ministry of Commerce. As well as education, it is also engaged in regulating and promoting the profession of cost and management accountant in Bangladesh.Vision & Mission ICMAB History In 1972, the institute was re-established in the name of Bangladesh Institute of Industrial Accountants again. The Government of Bangladesh renamed it as The Institute of Cost and Management Accountants of Bangladesh through promulgation of The Cost and Management Accountants Ordinance 1977 (Ordinance No LIII of 1977).[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reporting Council Bangladesh
The Financial Reporting Council Bangladesh () is a Bangladesh government regulatory agency responsible for regulating financial reporting, auditing and audit firms. History The Financial Reporting Council Bangladesh was established on 19 April 2016 as per Financial Reporting Act, 2015 as an independent regulatory agency. The agency is controlled by 12 member-governing body which has representatives from the government, Bangladesh Bank, Bangladesh Securities and Exchange Commission, Federation of Bangladesh Chambers of Commerce & Industries, professional accountants association and academia. It was created through the passage of Financial Reporting Act 2015 in the parliament of Bangladesh. In 2020 it signed agreements with International Valuation Standards Council, International Federation of Accountants, and IFRS Foundation The International Financial Reporting Standards Foundation or IFRS Foundation (sometimes IFRSF) is a nonprofit organization that oversees financial repor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Bangladesh
Bangladesh is a common law country having its legal system developed by the British rulers during their colonial rule over British India. The land now comprises Bangladesh was known as Bengal during the British and Mughal regime while by some other names earlier. Though there were religious and political equipments and institutions from almost prehistoric era, Mughals first tried to recognise and establish them through state mechanisms. The Charter of 1726, granted by King George I, authorised the East India Company to establish Mayor's Courts in Madras, Bombay and Calcutta and is recognised as the first codified law for the British India. As a part of the then British India, it was the first codified law for the then Bengal too. Since independence in 1971, statutory law enacted by the Parliament of Bangladesh has been the primary form of legislation. Judge-made law continues to be significant in areas such as constitutional law. Unlike in other common law countries, the Supreme Cou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance In Bangladesh
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reporting
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements accompanied by a management discussion and analysis: # A balance sheet or statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time. # An income statement—or profit and loss report (P&L report), or statement of comprehensive income, or statement of revenue & expense—reports on a company's income, expenses, and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. # A statement of changes in equity or statement of equity, or statement of retained earnings, reports on th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
