Application of IFRS in Selected Manufacturing Organizations in Bangladesh

Topics: International Financial Reporting Standards, Generally Accepted Accounting Principles, Asset Pages: 65 (18412 words) Published: January 24, 2013
Chapter -1

Orientation of The

1. Origin of the Report

The repot has been prepared as requirement of the Thesis program which is based on the “Application of IFRS in Selected Manufacturing organizations in Bangladesh”. This report will definitely increase the knowledge of other students to know the Application of IFRS in Selected Manufacturing organizations in Bangladesh. In BBA program, everything I have learnt is purely theoretical. It was needed to do some practical work for more clarification. Because of my great interest on IFRS practice in Bangladesh Thesis report has chosen to explore the current condition of IFRS in manufacturing organization of Bangladesh.

2. Objectives of the Study

This report is prepared primarily to fulfill the Bachelor of Business Administration (BBA) degree requirement of the faculty of business studies, department of Accounting Stamford University. Specific objectives

❖ To know the application of IFRS in selected manufacturing organizations of Bangladesh.

❖ To describe the application of Cash basis and Accrual basis accounting system in Bangladesh.

3. Methodology of the study

This report is based mainly on primary data .Data required for this report were collected from concerned persons in seven manufacturing organization of our country through survey questionnaire. Apart from these, helpful information was collected from online resources. books, articles etc.

4. Limitations of the Study

To make a report various aspects and experience are needed. But I have faced some barriers for making a complete and perfect report. These barriers or limitations, which hinder my word, are as follows: ❖ Difficulty in accessing data of its internal operations. ❖ Non-availability of some preceding and latest data.

❖ I couldn’t spend sufficient time, required to make an in-depth study on such an important issue

❖ The study was limited by the availability of data.
❖ The major limitation I have faced in preparing this report was the sensitivity of data. As it is a highly competitive market, if the margin information is released to other competitors, it may have a negative impact on their business.

Chapter - 2

An Overview of
Manufacturing Sector in

Introduction of manufacturing organizations of Bangladesh

The developmental odds faced by Bangladesh at the time of independence in 1971 were formidable. The challenges of high population growth, constant food shortages, recurring nature disaster, and high aid-dependence, limited production of tradable, widespread poverty and low levels of human development were compounded by the dislocations caused by the war of liberation. Against that backdrop, the prospect of Bangladesh economy appeared rather bleak. However, Bangladesh’s achievements over the past four decades negated considerably that pessimistic outlook. Against the benchmark trend GDP growth rate of 3.2 percent during 1950-1970, Bangladesh achieved a reasonably steady annual rate of growth of over 4percent during the first two decades of her independence and was successful in moving into the higher growth trajectory of nearly 5 percent during 1990s. The economy achieved trend growth rate of 5.8percent during 2000-2009.The boom in export and remittance earnings, with yearly compound growth of more than 12percent in each during 1980-2009, coupled with the decline in population growth rate from the post-independence peak of 2.7 percent to 1.2 percent in recent years helped raise average yearly Per capita GNI growth to about 5 percent during the last decade. This was more than twice the global median for per capita growth during the same period. The acceleration in the pace of growth started since the early 1990s when Bangladesh returned to a democratic form of government after...
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