Forma # 1.ai - ICAB

More documents

Recommendations

Info

Number of Qualified Accountants worldwide (approx. numbers as of July 2010) UK USA Canada Australia South Bangladesh Others Total Asia Chartered Accountants 167,000 - 75,000 50,000 207,000 1,000 62,000 562,000 CIMAs 80,000 - 50,000 - 80,000 1,000 - 211,000 ACCAs 140,000 - - - - - - 140,000 CPAs - 370,000 - 129,000 - - - 499,000 Total 387,000 370,000 125,000 179,000 287,000 2,000 62,000 1,412,000 Prospects for Accountants in the Job Market If money is the language of business, then no one speaks it better than accountants. The growing importance of trade and industry along with the rapid growth of capital and money markets in an economically developing nation like ours has increased the importance of accountants enormously. Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer. They work in many different settings; including public-practice firms, industry and commerce, as well as in the not-for-profit and public sectors. In Bangladesh, chartered accountants work as Chief Finance Officers, Financial Controllers, Financial Advisors or Directors (Finance) and watch over the finances in the day to day management of companies. They are engaged in activities like market research, budget planning, working capital management, inventory control, policy planning, securities consultancy, etc. There are also a large number, approx 200 Bangladeshi chartered accountants, working all over the world including the USA, UK, Canada and Australia in various responsible positions in business and commerce. Conclusion To use a time worn cliché, the world is your oyster, figuratively speaking. Professionally qualified accountants are in huge demand nowadays and there is a common complaint that demand is far more than the supply. In addition to careers in businesses, banks, finance and management, there is also a big pool of accountants engaged in audit and assurance, tax and advisory services. In recent times, and particularly in the wake of spectacular financial debacles particularly in the West, e.g. Enron, there is now a strong demand for forensic accountants. This is our equivalent of a Sherlock Holmes detective plot, whereby an army of accountants sifts through endless paper trails to unravel a maze of financial crimes and felonies. The financial rewards for a newly qualified accountant are far more than those afforded to a newly qualified doctor, engineer or an IT specialist. Moreover, it offers a job stability rarely found in any other career. So, for young men and ladies, if you haven’t already decided on a career, think again. You could do worse than opt for a career in Accounting – boring or not! The Author is a Council Member & Past President, <strong>ICAB</strong> & Senior Partner, A Qasem & Co. Chartered Accountants 58 January - March 2011 The Bangladesh Accountant
Corporate Social Responsibility (CSR) A Wahab FCA The concept, Corporate Social Responsibility (CSR) has been gaining importance in recent years among the business community of Bangladesh although it came into common use in early seventy's of the last century when multinational corporations came into scene worldwide. The CSR is the deliberate inclusion of public interests into corporate decision making and the honoring of a triple bottom line: People, Planet, Profit. CSR focused business would proactively promote the public interests by encouraging community growth and development of various social issues like Environmental Improvement, Economic Development as well as Social Development. Among the environmental issues, CSR deals with global warming, geological balance, pure water management, carbon emission, city beautification and waste management, sea water level. CSR deals with Agricultural production and processing, crop diversification, employment generation, education and training of human resources in the Economic Sector. In the same way CSR takes care of investing for women's right issues, extending donations to HIV/AIDS campaign agencies, welfare activities for disabled, donations for public universities, relief activities after natural disaster and calamities, welfare activities for grassroots children and acid victims etc., under its Social Development programme. Under Community based development approach the CSR is becoming more widely accepted and in this approach corporations work with local communities to better the social life and other aspects of society. For examples, the Shell Foundation set up a project in Flower Valley of South Africa by setting up an early learning centre to help educate the community's children as well as develop new skills for the adults. Often companies participate in the activities for establishing education facilities for adults and for HIV/AIDS education programs. Most of these projects are located in Africa as the continent suffers badly from HIV/AIDS diseases. There is another approach of CSR in the form of philanthropy including donations and aid given to local organizations and impoverished communities in the developing countries. The sense of rendering social services by business houses to the members of the community is a good sign for the society to develop itself in the fields, the society needs. This is in addition to the main objective of the business houses to earn profit and in return to share a portion of it along with the members of the society for the improvement of their social standard and improvement of life style. In the recent years the Govt. of Bangladesh has been encouraging the Business Community to extend their support to the members of the Society in the form of CSR. As a tool of regulatory guidance in this The Bangladesh Accountant January - March 2011 59
Page 1:
The Bangladesh Accountant January-M
Page 4 and 5:
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 56 and 57: “Oh, for the good old days when p
Page 58 and 59: everything eventually boil down to
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
show all

Forma # 1.ai - ICAB

Create successful ePaper yourself

Delete template?

Save as template?