1.1 Introduction: A growing number of students have sought to question the relevance of international accounting standards (IAS) to developing or emerging economies. Such students draw on the argument that for accounting and reporting systems to be effective. In 1973 International Accounting Standard committee was established. This committee published 41 standards. In 1977 Bangladesh got the membership of that committee. As of December 2006, 29 IAS is in circulation out of which 30 IAS have been adopted by ICAB and BAS.
Since the early 1970s the accounting profession in Bangladesh has witnessed a tremendous growth in membership number culminating into two main accounting professional bodies, ICAB and ICMAB established in 1973 and 1977 respectively. For example the membership numbers of the ICAB grew from just 78 at it inception in 1972-1973 to about 700 as of June 2003. Similarly, membership of the ICMAB has also grown steadily from 42 at its establishment to 697 at of July 2004. 1.3 Objective:
From the very beginning of the study of tired my level best to conduct my term paper with a view to achieve some specific objective and I went across the various institution to acquire some relative information and function procedure regarding those institution. The goal of my study is as follows.
1. To know about the IAS in Bangladesh.
2. To develop a clear and comprehensive view of IAS.
3. The primary object of the study is to know the process and function of IAS.
4. To know about the limitation of IAS in Bangladesh.
5. To analyze the problem and give a suggestion.
6. To put forward some recommendation and conclusion.
1.4 Limitation of the study:
In case of all kind of research and work there is some kind of limitations. We also had to face some limitation of the study. Most of the students do not have any idea about it. The major limitation is that the data has to be collected within a very short period of time. The authenticity of the information gathered can’t be fully re- examined due to common of trend of secrecy mania. Despite of this, best effort and sincerest endeavor in preparing a perfect report the limitations are inescapable. These are in the bellow:
1. Time constraints are one of the limitations for the study to prepare the report. 2. The data of Recognition of IAS in Bangladesh are not available. 3. Primary data and secondary data were not available in an organized from. 4. It is a self finance study.
5. It is impossible to know everything for time constraints.
In spite of the limitation, I had tried with all my efforts to know and to find out the response pattern of the subject and consultation of relevant record and document. Part – 2
2.1 Different Concept:
Different concepts of this Term Paper are given below:
1. IAS = International Accounting Standard
2. ICAB = Institute of Chartered Accountings of Bangladesh
3. ICMAB = Institute of Cost and Management Accounting of Bangladesh.
4. BAS =Bangladesh Accounting Standard
2.2 Methodology of the study:
The present study is a part of academic curriculum. The collection data and information have been tabulated, processed and analyzed carefully. It has been prepared in present form to marks the study more information and useful. The study period has been made within short duration. I tried my level best to be acquainted with all information. Theoretical techniques were based to analyze practical field’s data. The information of the term paper has been collected through primary and secondary sources. Most of the data have been collected from secondary sources. I have tried to bridge the gap between theoretical knowledge and concept with...