PRESENTATION ON FINANCIAL STATEMENT ON THE BASIS OF

ANNUAL REPORT

WE ARE

NAYMUL ISLAM HEMEL-04

GITANGSU SHEKHAR PAUL-11

SHAMIM -23

SANJOY KUMAR PAUL-30

SHOPNA KHATUN -31

SABINA AKHTER-36

BRAC BANK

BRAC bank was established on 4 July 2001 as a private -commercial bank on small and medium enterprises by the chairman Fazle hasan Abed. The bank was founded to reach the large number of unbanked people which were not cover by traditional bank. The main concept of the bank was to facilitate small & Medium enterprises, since then the bank has become a leading bank in Bangladesh.

Financial Services

SME Banking Retails Banking Card Services(credit & debit) Foreign exchange & Related

services Wholesale banking & custodial

service probashi banking

Distribution network

Branch: 157 SME unit office : 400 remittance delivery point : 400 ATM Booth : 350+ Apon somoy (financial kiosk):

16

Subsidiaries :

BRAC EPL investment limited. BRAC EPL stock Brokerage limited. Bkash (mobil banking service) limited BRAC Saajan exchange limited. BRAC IT services limited(BITS)

Sl. No

Particulars AnswerYes No

1 Do accounting and professional auditing bodies exist in the country?

1

2 Are the bodies involved in developing national accounting and auditing standards?

1

3 If not, are annual reports based on International accounting standards?

0

4 Should the annual reports be accompanied with the auditors’ reports?

1

5 Are the professional accounting and auditing bodies independent of their governments?

1

6 Accounting and auditing regulations are not controlled or developed predominantly by the state?

1

7 The base of financial statement preparation is not restricted to the statutory business laws?

0

The variables to scale accounting authority

S. No

Particulars AnswerYes No

1 Firms willingness to be transparent the people 1

2 Disclosure of general information about entity

1

3 Disclosure required for balance sheet 1

4 Disclosure required for profit and loss statement

1

5 Disclosure required for cash flow statement 1

6 Disclosure required for accounting policies 1

7 Disclosures of notes to financial statement 0

The variables to scale accounting disclosures

Accounting uniformity variablesS. No Particulars Answer

Yes No1 No accounting changes within the firms

during 2010-11 1

2 Uniformity in using accounting policies across firms

1

3 Not using other statement instead of cash flows statement.

0

4 Uniformity on presenting balance sheet items

1

5 Uniformity in presenting income statement

1

6 Uniformity in presenting cash flow statement

1

7 Uniformity in presenting notes to the financial information

0

Variables for scaling accounting measurement

S. No Particulars Answer

Yes No1 Historical coast accounting used for the

measurement of asset 1

2 Lower of cost or net realizable for inventories 1

3 Measuring fixed assets or , plant and equipment at cost less depreciation

1

4 Receivables, net of provision for doubtful debts

1

5 Conditional or contingent loss disclosed in income statement

0

6 Other reserves in addition to general and statutory reserves

0000000

7 Intangible at net of amortization 1

Analysis of report

Company ensures general information flow about entity, balance sheet, profit and loss statements, cash flow statements, accounting policy and financial statements.

During 2010-2012 BRAC bank Bangladesh limited made statements of :

Statement of comprehensive income

Statement of changes in equity

Statement of cash flow for every year

Company does not use other statements instead of cash flow statements.

Analysis of report

In presenting balance sheet and income statement items, CFS and notes to the financial information uniformity is maintained.

These financial statements have been prepared on historical cost basis.

Inventories are measured at the lower of cost and neat realizable value.

The cost of inventories is based on the first in first out (FIFO) method.

Items of property, plant and equipment are depreciated on a straight line basis.

Analysis of report

For intangible assets with a finite useful life company allocates it’s capitalized cost less any estimated residual value to prior in which the asset is expected to contribute to the company’s revenue generating activities.

Company’s provision for debts is made based on the company’s own policy. But debts are written off on consideration of the status of the individual debtors.

Company’s management is responsible for preparation of financial statements that represents a true and fair view in accordance with Bangladesh financial reporting standards.

REFERENCES

BRAC BANK ANNUAL REPORT 2011,2012,2013

BRAC BANK OFFICIAL WEBSITE

WIKIPEDIA (BRAC BANK)

MANAGING DIRECTOR SELF WRITINGS

THANK YOU