Forma # 1.ai - ICAB

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“Oh, for the good old days when people would stop Christmas shopping when they ran out of money.” - Unknown “Food, Water, Shelter, Air, Sleep, Societal inflation has expanded need into greed. Suddenly the basic survival needs also include a cell phone, cable TV, and French manicured fingernails.... We've become the absolute biggest whiners of all human history with the absolute smallest justification for whining.” - Charlie Diekatze “The human race has had long experience and a fine tradition in surviving adversity. But we now face a task for which we have little experience, the task of surviving prosperity.” - Alan Gregg “When government accepts responsibility for people, then people no longer take responsibility for themselves.” - George Pataki “Debt is the slavery of the free” - Publilius Syrus “Capitalism is license to steal; the government simply regulates who steals and how much.” - Abbie Hoffman “Capitalism without failure is like religion without sin.” - Allan Meltzer “You want to know a sure way to lose money? Buy what’s popular and don’t know what you are investing in.” - Marty Whitman Source : Internet 54 January - March 2011 The Bangladesh Accountant
Who says Accountants are Boring People! Sohel Kasem, FCA Well, a million people at least, including my mother and my wife. Remember the famous Monty Python sketch where John Cleese is the Vocational Guidance Counsellor and Michael Palin is a Chartered Accountant wishing to spice up his life by becoming a lion tamer. Part of the conversation goes like this: "Vocational Guidance Counsellor (John Cleese): Well yes, Mr. Anchovy, but in your report here it says that you are an extremely dull person. Our experts describe you as an appallingly dull fellow, unimaginative, timid, lacking in initiative, spineless, easily dominated, no sense of humour, tedious company, and irresponsibly drab and awful. And whereas in most professions these would be considerable drawbacks, in accounting they are a positive boon. Anchovy (Michael Palin): But don't you see? I'm only as awful as this because accountancy does this to people..." John Cleese (left) sorting out Michael Palin, a chartered accountant, who wishes to be a lion tamer in this Monty Python sketch. That sketch was first aired on December 21, 1969 and more than 40 years later, accountants all over the world claim that they still haven’t recovered from it. Go back in time even further and we have Charles Dickens having a go at us: "Meek men, hunched over dusty ledgers, perched on high stools, peering beneath green eyeshades. But Charles Dickens also gave perhaps a fitting definition of good financial management, which our friends in Wall Street would have done well to heed. In his 1850 novel, David Copperfield, Mr. Micawber observes quite profoundly: "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery." Okay, so we have established that Accountants are not your most exciting people, but still, we serve a purpose and a very important one at that. We fulfill the need to keep accurate and reliable financial records and ensure there is good financial management and discipline, for after all, doesn’t The Bangladesh Accountant January - March 2011 55
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The Bangladesh Accountant January-M
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EDIT ORIAL The Perspective Plan and
Page 6 and 7: management and communication. There
Page 8 and 9: Uniform Accounting a must for Energ
Page 10 and 11: Management Accountants, Auditors ha
Page 12 and 13: A delegation of the Institute of Ch
Page 15 and 16: Bangladesh Capital Market Opportuni
Page 17 and 18: Budget for the sake of so called ec
Page 19 and 20: 8.Capital gain: The capital gain ma
Page 21 and 22: Avoiding Losses in the Share Market
Page 23 and 24: putting up anything-or very little.
Page 25 and 26: Table 11: Major Indicators related
Page 27 and 28: ) Huge inflow of new investors in t
Page 29 and 30: On one occasion, those who hold the
Page 31 and 32: It is widely accepted that the curr
Page 33 and 34: Figure 17: Overseas Migraon from Ba
Page 35 and 36: Source: BMET. Figure 18: Market Spe
Page 37 and 38: • Government should continue the
Page 39 and 40: These relative developments among t
Page 41 and 42: management which often readjusts th
Page 43 and 44: Fundamentals to Safeguard Investmen
Page 45 and 46: come in stock market to make profit
Page 47 and 48: Capital Market Review Volatility in
Page 49: current crisis in the capital marke
Page 52 and 53: “The stock market is but a mirror
Page 54 and 55: “The stock market is filled with
Page 58 and 59: everything eventually boil down to
Page 60 and 61: Number of Qualified Accountants wor
Page 62 and 63: espect, the Ministry of Finance, In
Page 64 and 65: ody in the social development secto
Page 67 and 68: Opportunities and Challenges for Ad
Page 69 and 70: at cost less any accumulated amorti
Page 71 and 72: Students’ Section Sanjida Kasem F
Page 73 and 74: 13. Take breaks: Do not study at a
Page 75 and 76: Students’ Section Subject Duratio
Page 77 and 78: Students’ Section 10. The student
Page 79 and 80: Students’ Section 1/15/ICAB-2010
Page 81 and 82: Be better informed! - Subscribe to
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Forma # 1.ai - ICAB

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