Scribd Logo
Upload

Welcome to Scribd!

  • Bsec Regulations On Accounting. Logon

    Uploaded by

    logontonoy
    3 views8 pages
    BSEC is the regulator of the capital market in Bangladesh comprising the DSE and CSE. [1] It ensures that public companies follow accounting standards like GAAP and IFRS when providing financial statements. [2] IFRS constitute a standardized way of describing a company's financial performance and position so statements are understandable and comparable. [3] BSEC prefers IFRS over GAAP because IFRS provides consistency, comparability, and allows access to international capital markets as other countries also use IFRS.

    Original Description:

    Original Title

    Bsec Regulations on Accounting. Logon

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    BSEC is the regulator of the capital market in Bangladesh comprising the DSE and CSE. [1] It ensures that public companies follow accounting standards like GAAP and IFRS when providing financial statements. [2] IFRS constitute a standardized way of describing a company's financial performance and position so statements are understandable and comparable. [3] BSEC prefers IFRS over GAAP because IFRS provides consistency, comparability, and allows access to international capital markets as other countries also use IFRS.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views8 pages

    Bsec Regulations On Accounting. Logon

    Uploaded by

    logontonoy
    BSEC is the regulator of the capital market in Bangladesh comprising the DSE and CSE. [1] It ensures that public companies follow accounting standards like GAAP and IFRS when providing financial statements. [2] IFRS constitute a standardized way of describing a company's financial performance and position so statements are understandable and comparable. [3] BSEC prefers IFRS over GAAP because IFRS provides consistency, comparability, and allows access to international capital markets as other countries also use IFRS.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 8

    BSEC REGULATIONS ON

    ACCOUNTING
    PRESENTED BY:-
    Biswadeep Tonoy Logon
    Roll: 051
    Section: A
    WHAT IS BSEC?
    Established in 1993, BSEC is the regulator of the capital market in Bangladesh,
    comprising DSE and CSE. The commission is a statutory body and attached to the
    MINISTRY OF FINANCE.

    Its objectives are:-


    1. Regulating all the registered organizations in the securities market
    2. Protecting the interest of investors
    3. Formulating rules on securities related matters.
    BSEC ON ACCOUNTING REGULATIONS
    BSEC is primarily concerned with enforcing auditing standards
    in the context of financial statements it receives from public
    companies under the federation law.
    It ensures that, the statements provided by the public
    companies are following The Generally Accepted Accounting
    Principles (GAAP) and International Financial Reporting
    Standards (IFRS).
    IFRS: INTERNATIONAL FINANCIAL REPORTING STANDARDS

    International Financial Reporting Standards, commonly called IFRS, are standards issued by
    IASB.
    They constitute a standardized way of describing the company’s financial performance and
    position, so that the statements are understandable and comparable.
    Some basic rules and principles of IFRS are:
    1.Accrual basis of accounting
    2.Going concern concept
    3.Fair presentation
    4.Consistency
    5.Relevance
    6.Conservatism
    7.Completeness
    8.Comparative information
    9.Revenue/expense recognition
    WHY BSEC PREFERS IFRS OVER GAAP?

    The decision to adopt IFRS This also helps to gain


    instead of GAAP by BSEC is access to the
    influenced by several international capital
    factors. Such as: market as other
    countries are adopting it.
    01 03
    IFRS is set to be a set As businesses operate
    of global accounting internationally, IFRS
    standards, because of helps by providing a
    its consistency and standard way of
    comparability. 02
    communication with
    the stakeholders.
    WHY REGULATIONS
    ARE IMPORTANT:-

    Accounting regulations enforced by the SEC are a regulatory


    framework designed to
    1. Safeguard investors
    2. maintain market integrity
    3. Facilitate fair competition, and
    4. Promote the stability of the financial system.
    Thank you!

    You might also like