Question

Describe accounting and reporting in Bangladesh prospective​

Answer 1

Answer:

Accounting:

The basic requirements for financial reporting by all companies in Bangladesh are provided by the Companies Act of 1994. ... The Generally Accepted Accounting Principles (GAAP) in Bangladesh are based upon standards set by the ICAB, which has stated its intention to adopt International Financial Reporting Standards.

Reporting:

The Securities and Exchange Commission of Bangladesh regulates financial reporting by listed companies. SER 1987 requires compliance with IASs/IFRSs as adopted in Bangladesh (these are known as Bangladesh Financial Reporting Standards and include Bangladesh Accounting Standards). Banks.