Report on compliance

with the International

Accounting Standards
by the engineering
companies listed under
Dhaka Stock Exchange
Submitted by:
Name of the group: Corporate Warriors
atch: !"
th

Dept# of AIS$ D%#
Submitted to:
Md. Abdus Sobhan
(Asst. professor, dept. of AIS)
Date of Completion: May 18, !!"
#roup Details:
Corporate Warriors
$o. $ame ID $o.
1. $idal Adnan %Ibria 1&1!
. Syeda 'asnin A(htar 1&1)*
+. Arabinda Das Anee 1&1!!
&. Salma 'a(im ,inia 1&!"
*. $ishat -ar.ana Mushtary 1&1*/
). A.S.M. -erdous 0ahman 1&1/+
/. Abdullah Al Mahmud 1&1/*
8. $a.mul 'uda 1&11..
". Sandip %umar #hosh 1//

Letter of Transmittal
May 18, !!"
To: Md. Abdus Sobhan
From: Corporate 2arriors
Subject: -inal report on 3omplian3e 4ith IAS 1.
Dear Sir:
2e are pleased to present our final report, 5 0eport on Corporate -inan3ial Information
under IASs: 67iden3e from 8isted Companies in 9an:ladesh,5 on 3omplian3e 4ith IAS 1
mainly in the industrial en:ineerin: se3tor of 9an:ladesh and their annual reports. ;his
report adds detail to the findin:s and re3ommendations. After e<aminin: ten 3orporate
annual reports 4e found that ea3h 3ompany has its spe3ial 3ir3umstan3es but most of
them ha7e tried to follo4 the IAS 1 fully. It also 3ompares the information obtained from
the sample.
After an initial 3olle3tion of the annual reports 4e the :roup members ha7e in7esti:ated
ea3h of the finan3ial reports 3ons3iously to rea3h a fair 3on3lusion. 2e hope that our
re3ommendations 4ill be helpful as you 3onsider the priorities for 3omplian3e 4ith IAS.
2e loo( for4ard to dis3ussin: this report 4ith you and presentin: it as re=uired.
6n3losure: -inal report
+
Table of Contents
Title Page No.
1. Introdu3tion !)
. Importan3e of the en:ineerin: se3tor
> its 3ontribution to the e3onomy
!)
+. Importan3e of IAS in the en:ineerin:
se3tor
!"
&. ?b.e3ti7e of the report 1!
*. 8iterature re7ie4 11
). Methodolo:y 1&
/. Summary of IAS 1 1*
8. -indin:s > re3ommendations 18
". Con3lusions )&
1!. 9iblio:raphy > appendi3es )*
&
0eport on Corporate -inan3ial Information under IASs:
67iden3e from 8isted Companies in 9an:ladesh
Abstra3t
;he main purpose of this study is to in7esti:ate the e<tent of 3omplian3e 4ith IAS 1
in 9an:ladesh in the 3orporations. It also e<amines the le7el of dis3losure of finan3ial
information in the 3orporate annual reports. It 4as found that 3orporate si@e,
profitability, sto3( e<3han:e se3urity 3ate:ory, si@e and international lin( all are
si:nifi3antly asso3iated 4ith the e<tent of dis3losure.
*
0eport on Corporate -inan3ial Information under IASs:
67iden3e from 8isted Companies in 9an:ladesh
1 Introduction
;he dis3losure of finan3ial information in 3orporate Annual reports and their
determinants has attra3ted 3onsiderable attention in the 2est, but there has been mu3h
less 3on3ern in de7elopin: 3ountries. ?nly a handful of 4or(s ha7e been 3arried out in
de7elopin: 3ountries on the issue of dis3losure and 3orporate attributes influen3in: it.
;he aim of this paper is to analy@e the e<tent of dis3losure in 3ompany annual reports
upon adaptation of International A33ountin: Standards in 9an:ladesh.
2ith this aim in 7ie4, the rest of the paper is or:ani@ed as follo4s: Se3tion Importan3e
of the en:ineerin: se3tor and its 3ontribution in the e3onomy, Se3tion + Importan3e of
International A33ountin: Standards for the en:ineerin: se3tor, Se3tion & des3ribes the
?b.e3ti7e of the report, Se3tion * sets out the 8iterature 0e7ie4, Se3tion ) is the
Methodolo:y, Se3tion / pro7ides a summary of International A33ountin: Standards,
Se3tion 8 outlines the findin:s of the study > 4ith that proper re3ommendations, and
finally, Se3tion " summari@es the findin:s and dra4s 3on3lusion.
Importance of t!e "ngineering Sector # Its Contribution in t!e
"conom$
6n:ineerin: is a di7erse industry 4ith a number of se:ments. ;he industrial en:ineerin:
se3tor is the one of the lar:est se:ments of the o7erall 9an:ladesh industrial se3tor. ;he
main ob.e3ti7e of industrial en:ineerin: is to 3ontribute to the de7elopment of
)
infrastru3tural fa3ilities of the 3ountry, 3reate the base for industrial :ro4th, ma(e human
and material mo7ement faster and easier. 9an:ladesh has a stron: en:ineerin: and 3apital
:oods base. ;he important :roups 4ithin the en:ineerin: industry may in3lude ma3hinery
> instruments, primary and semi finished iron > steel, steel bars > rods, li:ht industries,
666, nonAferrous metals, ele3troni3 :oods and pro.e3t e<ports et3. ;he se3tor 3an be
3ate:ori@ed into heavy engineering and light engineering segments.
8i(e in many other 3ountries, lo:isti3s industry is a se3tor 4ith :reat potential in
9an:ladesh. ;his se3tor needs to be e<plored by Industrial and Production (IP)
Engineers 4ho 3an 3ontribute immensely. IB6 is a relati7ely ne4 dis3ipline in
9an:ladesh. It blends en:ineerin: 4ith business studies and mana:ement. ;his, in the
3onte<t of 9an:ladesh, is of utmost importan3e for the proper operation and effi3ient
e<pansion of any industry. ;his dis3ipline re=uires 4idespread promotion to introdu3e
and establish its importan3e in the industrial arena of the 3ountry. ;his a4areness needs
to be 3reated for the sa(e of the industries themsel7es, so that they 3an pro7ide more from
less.
;here are a lot of potential industrial en:ineerin: se3tor in 9an:ladesh. 9ut amon: those
the li:ht en:ineerin: se3tor, steel industries and some other SM6s are flourishin: the
most and 3ontributin: to stamp their mar( as an important pro7ider of best =uality
en:ineerin: produ3ts and ser7i3es.
Heavy Engineering
In hea7y industrial en:ineerin: se3tor 9S6C has played a si:nifi3ant role. 9an:ladesh
Steel and 6n:ineerin: Corporation (9S6C) 4as established on Culy 1, 1"/) by
in3orporatin: 9an:ladesh Steel Mills Corporation and 9an:ladesh 6n:ineerin: >
Shipbuildin: Corporation. ;he main produ3ts are: #I D MS D ABI pipes, transformers,
ele3tri3 3ables and 3ondu3tors, super enamelled 3opper 4ire, fluores3ent tube li:ht, ra@or
blades, portable steel brid:e, assembled bus, tru3(, .eep, motor3y3le and mishu( (;riA
4heeler) . 9S6C also pro7ides repair fa3ilities for different (inds of ri7erine 7essels and
do3(in: fa3ilities to seaEo3ean :oin: 7essels. ?7er the last fi7e years the a7era:e yearly
/
profit earned by 9S6C 4as ;(. *!.88 million. Bresently 9S6C 'ead ?ffi3e and its "
operatin: enterprises has an employmentAstren:th of /1! personnel in 7arious
3ate:ories. ;he a7era:e yearly (!!A!!/) 3ontribution of 9S6C to the $ational
e<3he=uer 4as ;(.)!1&.1! million. In open and free mar(et e3onomy, amidst hi:hly
3ompetiti7e mar(et, as a stateAo4ned 3orporation, it is 3ommitted to enhan3e the le7el of
performan3e in future.
Berforman3e of 9S6C (last * years):
(-i:ures in Million ;(.)
%escription Financial &ear
!!A!+ !!+A!& !!&A!* !!*A!) !!)A!/
Brodu3tion *+.+! *"8.! +&8!.+! +"/).+! &/*8.*!
Sales +1.)! +!""."! &!&."! &&"1."! *+!!."!
Brofit &).1! +&.&! *!.8! 1&."! "/.!
Contribution to $ational 6<3he=uer ))+.! 8/!.! 1++.&! 1&"/./! 1)*".)!
Light Engineering
;he 8i:ht 6n:ineerin: Se3tor (86S) se3tor in 9an:ladesh 3onsists of o7er /,!!! firms,
employs 8!!,!!! persons and :enerates an annual re7enue of about 9D; "*!! 3rores
FSG1,)!! million). Most of 86S output plays a 3riti3al role in (ey national se3tors su3h
as a:ri3ulture, transportation, 3onstru3tion and 0M#.
;he 86S supply 3hain 3omprises firms en:a:ed in metal sour3in:, metal preparation,
metal 3uttin:, formin: > finishin:, parts manufa3turin:, assembly > produ3tion of
finished :oods for a lar:e 7ariety of industrial and household appli3ations. ;he 3ustomer
industries ran:e from toothbrush > bu3(ets to autoAparts > parts of ma3hines used in the
te<tile, pharma3euti3al and other se3tors to diesel en:ines, irri:ation pumps, po4er tillers
et3.
'o4e7er, most of the firms in the se3tor are either tiny or small and operate in the unA
or:ani@ed se3tor. -urther the se3tor needs to rene4 its assets, up:rade its manpo4er
8
s(ills, besides ma(in: fresh in7estments. It also needs to inte:rate better 4ith the :lobal
industry and trends.
S6D- has studied the 86 se3tor in 9an:ladesh and has 3ommen3ed inter7entions throu:h
a mi< of se3tor 4ide initiati7es and a fe4 spe3ifi3 pro.e3ts. Some of the areas in3lude
foundry performan3e, ma3hine shop effi3ien3y, operator trainin: and 3entrifu:al 3astin:
4hereas 3urrent sub se3tors in3lude automoti7e 3omponents and a:ri3ultural implements.
S6D- also assists in lin(a:e pro.e3ts 4hi3h in7ol7e SM6s 4ho supply to lar:e
3ompanies.
' Importance of I(S in t!e "ngineering Sector
A set of standards states ho4 parti3ular types of transa3tions and other e7ents should be
refle3ted in finan3ial statements. In the past, international a33ountin: standards
(IAS) 4ere issued by the 9oard of the International A33ountin: Standards Committee
(IASC). Sin3e !!1, the ne4 set of standards has been (no4n as the international
finan3ial reportin: standards (I-0S) and has been issued by the International A33ountin:
Standards 9oard (IAS9). In the absen3e of a Standard or an Interpretation that
spe3ifi3ally applies to a transa3tion, mana:ement must use its .ud:ments in de7elopin:
and applyin: an a33ountin: poli3y that results in information that is rele7ant and reliable.
In ma(in: that .ud:ment, IAS 1 re=uires mana:ement to 3onsider the definitions,
re3o:nition 3riteria, and measurement 3on3epts for assets, liabilities, in3ome, and
e<penses in the Frame)or*.
As :lobali@ation 4or(s its 4ay throu:h lo3al e3onomies 7ia dere:ulation and modern
mar(et reforms, there is a need for the 3on7er:en3e of lo3al finan3ial reportin: standards
4ith International A33ountin: Standard (IAS). 9ut, in order to a3hie7e :reater
transparen3y 4orld4ide as part of a 4ider #lobal A33ountability -rame4or( (#A-) the
"
fundamental institutions of a modern mar(et e3onomy must be put in pla3e before the
3on7er:en3e be3omes effe3ti7e. A more effe3ti7e 3orporate :o7ernan3e 3ode and :reater
independen3e at listed 9oard of Dire3torsH le7el is also needed. -inally, the ne4 #A-
4ould need to embra3e nonAfinan3ial measures of effe3ti7eness to pro7ide 3orporations
the basis to report on their so3ial responsibility a3ti7ities, 4hile limitin: the dis3losure of
finan3ially sensiti7e 3orporate information.
;he latest de7elopments in :lobal 3ommer3e are li(ely to lead to a further 4a7e in
dere:ulation and mar(et reforms in lo3al e3onomies. ;he demands for 3apital of :ro4in:
businesses from the ma.or 3apital mar(ets of the 4orld are dependent on the 3on7er:en3e
of lo3al #enerally A33epted A33ountin: Brin3iples (#AAB) 4ith IAS. More plainly,
those see(in: to raise funds 4ill need to ha7e their lo3al adoption of IAS 3on7er:e 4ith
#AAB, the reportin: standards of the dominant 3apital mar(et of the 4orld.
After the abo7e e<planation, as 4e ha7e mentioned before that it is 7ery important to
blend en:ineerin: 4ith business and mana:ement, so it is 7ery ne3essary to maintain
proper boo( (eepin: and a33ountin: poli3ies to earn the most from the least. -or the
effi3ient :ro4th and e<pansion of this industry follo4in: the IAS in 3ase of finan3ial
reportin: is the utmost need.
+ ,bjecti-e of t!e report
;he study is an attempt to e<amine the le7el of dis3losure of finan3ial information in the
industrial en:ineerin: se3tor upon adaptation of IAS 1 in 9an:ladesh and the le7el of
dis3losure in 3orporate annual reports in 9an:ladesh. In short this paper e<amines the
e<tent of 3omplian3e 4ith the International A33ountin: Standards (IAS) in 9an:ladesh
by pro7idin: e7iden3e. -or this 4e ha7e ta(en ten 3ompanies as our sample to in7esti:ate
the matter in a tabulate form. ;o e<plore further the ob.e3ti7e of this resear3h is to
in7esti:ate the e<tent of non3omplian3e. 2e 3an see this in the se3tion / part 4here 4e
ha7e outlined the 4hole in7esti:ation in a tabulate form.
1!
. Literature /e-ie)
?ne of the main purposes of finan3ial statements is to pro7ide more
Comparable data about the business enterprise. A33ountin: standards
Assist the preparation of finan3ial statements and 3omparability of
6nterprise data in at least four 4ays: mandatin: a spe3ifi3 presentation
-ormat, 3ompellin: an e<pli3it measurement te3hni=ue, ensurin: an
In3reasin: le7el of dis3losure, and re=uirin: the dis3losure of additional
Information (Cairns 1""*).
Cerf (1")1) pioneered the study in this area e<aminin: */ 3orporate annual reports
a:ainst a dis3losure inde< 3omprisin: thirty one information items. 'e found that le7el of
dis3losure 4as (positi7ely) asso3iated 4ith 3orporate si@e and listin: status but not 4ith
profitability. Modifyin: Cerf inde<, Sin:h7i (1")/) found that dis3losure =uality 4as
asso3iated 4ith asset si@e, number of sto3(holders, rate of return, earnin:s mar:in,
se3urity pri3e flu3tuations, listin: status, and CBA firm. 9u@by (1"/*) found that the
e<tent of dis3losure 4as positi7ely asso3iated 4ith 3ompany si@e but not 4ith listin:
status. Choi (1"/+) found that firms si:nifi3antly impro7ed their dis3losure le7els upon
entry into the 6uropean 3apital mar(et. 9arrett (1"//) e<amined 3han:es in the a7era:e
dis3losure le7els o7er a ten year period from 1")+ to 1"/ and 3omprehensi7eness of
finan3ial statements a3ross 3ountries. 'e reported a steady impro7ement in the o7erall
le7el of 3orporate dis3losure for firms durin: the period. 9ritish and Ameri3an firms ha7e
sho4n si:nifi3antly hi:her le7el of dis3losure than any of the other fi7e 3ountries of the
study. ?n a sample of 8! FS 3ompany annual reports Stan:a (1"/)) found that si@e 4as
not si:nifi3ant in e<plainin: dis3losure 7ariability 4hile industry type 4as. 9el(aoui and
%ahl (1"/8) found that si@e, li=uidity, and industry type 4ere type 4as. 9el(aoui and
%ahl (1"/8) found that si@e, li=uidity, and industry type 4ere positi7ely asso3iated 4ith
dis3losure 4hile profitability and 3apitalisation ratio 4ere ne:ati7ely asso3iated 4ith it.
11
Spero (1"/") found that 3ompanies dis3losin: more important items also dis3losed less
important items and 7i3e7ersa. -irth (1"/") found that 3orporate si@e 4as lin(ed to
dis3losure le7els but audit firm si@e 4as not. %ahl and 9el(aoui (1"81) found that the
de:ree of dis3losure 4as relati7ely different a3ross 3ountries 4ith F.S. leadin: the list of
18 3ountries in their study. M3$ally, 6n:, and 'asseldine (1"8) found a si:nifi3ant
relationship bet4een 3ompany si@e and dis3losure but no asso3iation bet4een dis3losure
and rate of return, :ro4th, industry se3tors and the si@e (9i: 6i:ht and non9i: 6i:ht) of
audit firms. Coo(e (1"") found that dis3losure in3reases 4ith si@e, industry type and
multiple listin:s.
Sin:h7i (1")/ and 1")8) pioneered resear3h on 3orporate dis3losure in
de7elopin:3ompanies. Fsin: a dis3losure inde< 3omprisin: +8 items he found that
dis3losure 4as * asso3iated 4ith si@e, profitability and mana:ersH 3ountry of ori:in. Sin:h
and #upta (1"//) repli3ated Sin:h7iIs method to test the influen3e of fa3tors su3h as
industry se3tor, affiliation 4ith multinational enterprise and sto3( e<3han:e listin: on
e<tent of dis3losure. Sin:hHs (1"8+) findin:s su::est an asso3iation bet4een 3orporate
si@e, profitability and the e<tent of dis3losure 4hile a:e and industry 4ere not si:nifi3ant
in ma.ority of the studies. Cho4 and 2on:9oren (1"8/) found that the le7el of 7oluntary
3orporate dis3losure in3reased 4ith firm si@e but not 4ith finan3ial le7era:e or Hassets in
pla3eH. Bradhan (1""!) found a positi7e 3orrelation bet4een si@e (both sales and assets)
and dis3losure, ne:ati7e 3orrelation bet4een 6BS and dis3losure and an o7erall
impro7ement in dis3losure durin: the period 1"81 to 1"8* in India. 9en.amin et al (1""!)
found that lar:e and small firms ha7e fe4er non3omplian3eto dis3losure re:ulations than
mediumsi@ed firms. $o si:nifi3ant asso3iation bet4een industry, auditor si@e and
non3omplian3e 4as found. %hande4al (1""1) found that dis3losure le7els 4ere not
si:nifi3antly different bet4een years but that they 7aried si:nifi3antly a3ross 3ompanies.
Abayo and 0oberts (1""+) found no si:nifi3ant differen3e in the dis3losure =uality of
3ompanies employin: and not employin: =ualified a33ountants, althou:h for 7oluntary
dis3losures the differen3es 4ere si:nifi3ant at 1!J su::estin: a 4ea( lin( bet4een
7oluntary dis3losure le7els and the employment of =ualified a33ountants.
1
2alla3e (1"8/) found a positi7e asso3iation bet4een the type of mana:ement influen3e
and the e<tent of statutory dis3losure and a positi7e influen3e of asset si@e on o7erall
dis3losure in $i:eria. Barry (1"8") and Barry and #ro7es (1""!) e<plored potential
lin(a:e bet4een a33ountin: and e3onomi3 de7elopment. ;heir results re7ealed an in7erse
relationship bet4een dis3losure le7els and si@e and the 3ompany bein: a multinational
subsidiary.
;hey found no asso3iation bet4een dis3losure le7els and the presen3e of =ualified
a33ountant(s) in the entities. Ahmed and $i3holls (1""&) find that subsidiaries of
multinational 3ompanies and 3ompanies audited by lar:e audit firms sho4ed hi:her
de:ree of 3omplian3e to dis3losure re=uirements 4hile the a33ountantHs =ualifi3ation in
the reportin: 3ompany had 4ea( influen3e (si:nifi3ant at 1!J) on su3h 3omplian3e. In
another study on 9an:ladeshi 3ompanies Ahmed (1"")) found that multinationality and
auditor si@e 4ere si:nifi3ant predi3tors of dis3losure le7els but si@e, total debt, and
=ualifi3ation of prin3ipal a33ountin:
?ffi3er 4as not. ;he results support the findin:s of Barry and #ro7es 4ith re:ard to the
a33ountantIs =ualifi3ation 7ariable.
1+
0 1et!odolog$
?ur ob.e3ti7e 4as to find out 4eather the 3ompanies under en:ineerin: se3tor are
3omplyin: 4ith the rules and re:ulations of International a33ountin: Standard 1 or not.
;o find that, 4e randomly 3hoose 1! steel > en:ineerin: 3ompanies(most of them are
listed as KAL :rade 3ompanies in the sto3( e<3han:e).2e 3olle3ted ne3essary data from
the annual report. So all of them 4ere se3ondary data. 2e 3he3(ed the follo4in: points
and 3ompare them 4ith all the sub se3tions of International a33ountin: Standard 1:
A) 0eport of the dire3tors
9) AuditorsI report
C) 9alan3e Sheet
D) Brofit > 8oss A33ount
6) Cash -lo4 Statement
-) Statement of Chan:es in 6=uity
#) $otes to the finan3ial statements
') -inan3ial Statements of pre7ious years
;he result of our study is dis3ussed briefly in the -indin:s > 0e3ommendations se3tion
1&
2 Summar$ of I(S 1
;he ob.e3ti7e of this Standard is to pres3ribe the basis for presentation of :eneral
purpose finan3ial statements, to ensure 3omparability both 4ith the entityIs finan3ial
statements of pre7ious periods and 4ith the finan3ial statements of other entities. ;o
a3hie7e this ob.e3ti7e, this Standard sets out o7erall re=uirements for the presentation of
finan3ial statements, :uidelines for their stru3ture and minimum re=uirements for their
3ontent.
A 3omplete set of finan3ial statements 3omprises:
(a) a balan3e sheetM
(b) an in3ome statementM
(3) a statement of 3han:es in e=uity sho4in: either:
(i) all 3han:es in e=uity, or
(ii) 3han:es in e=uity other than those arisin: from transa3tions 4ith e=uity holders
a3tin: in their 3apa3ity as e=uity holdersM
(d) a 3ash flo4 statementM and
(e) notes, 3omprisin: a summary of si:nifi3ant a33ountin: poli3ies and other e<planatory
notes.
;he finan3ial statements shall be identified 3learly and distin:uished from other
information in the same published do3ument.
-inan3ial statements shall be presented at least annually.
-inan3ial statements shall present fairly the finan3ial position, finan3ial performan3e and
3ash flo4s of an entity. In 7irtually all 3ir3umstan3es, a fair presentation is a3hie7ed by
3omplian3e 4ith appli3able I-0Ss.
An entity 4hose finan3ial statements 3omply 4ith I-0Ss shall ma(e an e<pli3it and
unreser7ed statement of su3h 3omplian3e in the notes. -inan3ial statements shall not be
1*
des3ribed as 3omplyin: 4ith I-0Ss unless they 3omply 4ith all the re=uirements of
I-0Ss.
2hen preparin: finan3ial statements, mana:ement shall ma(e an assessment of an
entityIs ability to 3ontinue as a :oin: 3on3ern. -inan3ial statements shall be prepared on a
:oin: 3on3ern basis unless mana:ement either intends to li=uidate the entity or to 3ease
tradin:, or has no realisti3 alternati7e but to do so. 2hen mana:ement is a4are, in
ma(in: its assessment, of material un3ertainties related to e7ents or 3onditions that may
3ast si:nifi3ant doubt upon the entityIs ability to 3ontinue as a :oin: 3on3ern, those
un3ertainties shall be dis3losed.
;he presentation and 3lassifi3ation of items in the finan3ial statements shall be retained
from one period to the ne<t.
6<3ept 4hen a Standard or an Interpretation permits or re=uires other4ise, 3omparati7e
information shall be dis3losed in respe3t of the pre7ious period for all amounts reported
in the finan3ial statements. Comparati7e information shall be in3luded for narrati7e and
des3ripti7e information 4hen it is rele7ant to an understandin: of the 3urrent periodIs
finan3ial statements.
6a3h material 3lass of similar items shall be presented separately in the finan3ial
statements. Items of a dissimilar nature or fun3tion shall be presented separately unless
they are immaterial.
?missions or misstatements of items are material if they 3ould, indi7idually or
3olle3ti7ely, influen3e the e3onomi3 de3isions of users ta(en on the basis of the finan3ial
statements. Materiality depends on the si@e and nature of the omission or misstatement
.ud:ed in the surroundin: 3ir3umstan3es. ;he si@e or nature of the item, or a 3ombination
of both, 3ould be the determinin: fa3tor. If a line item is not indi7idually material, it is
a::re:ated 4ith other items either on the fa3e of those statements or in the notes. An item
that is not suffi3iently material to 4arrant separate presentation on the fa3e of those
1)
statements may ne7ertheless be suffi3iently material for it to be presented separately in
the notes.
Assets and liabilities, and in3ome and e<penses, shall not be offset unless re=uired or
permitted by a Standard or an Interpretation.
An entity shall present 3urrent and nonA3urrent assets, and 3urrent and nonA3urrent
liabilities, as separate 3lassifi3ations on the fa3e of its balan3e sheet e<3ept 4hen a
presentation based on li=uidity pro7ides information that is reliable and is more rele7ant.
All items of in3ome and e<pense re3o:nised in a period shall be in3luded in profit or loss
unless a Standard or an Interpretation re=uires other4ise.
An entity shall present an analysis of e<penses usin: a 3lassifi3ation based on either the
nature of e<penses or their fun3tion 4ithin the entity, 4hi3he7er pro7ides information
that is reliable and more rele7ant.
An entity shall dis3lose, in the summary of si:nifi3ant a33ountin: poli3ies or other notes,
the .ud:ements, apart from those in7ol7in: estimations, that mana:ement has made in the
pro3ess of applyin: the entityIs a33ountin: poli3ies and that ha7e the most si:nifi3ant
effe3t on the amounts re3o:nised in the finan3ial statements.
An entity shall dis3lose in the notes information about the (ey assumptions 3on3ernin:
the future, and other (ey sour3es of estimation un3ertainty at the balan3e sheet date, that
ha7e a si:nifi3ant ris( of 3ausin: a material ad.ustment to the 3arryin: amounts of assets
and liabilities 4ithin the ne<t finan3ial year.
An entity shall dis3lose information that enables users of its finan3ial statements to
e7aluate the entityIs ob.e3ti7es, poli3ies and pro3esses for mana:in: 3apital.
1/
3 Findings # /ecommendations: ?ur findin:s and re3ommendations
about the 1! sele3ted 3ompanies are presented belo4
A) Company $ame: ,l$mpic Industries Ltd.:
;he ?lympi3 Industries 8td.(-ormerly 9en:al Carbide 8imited), is a 3ompany
in3orporated and domi3iled in 9an:ladesh as a publi3 limited 3ompany. It 3ommen3ed
3ommer3ial operation in 1"8 and 4ent for publi3 issue of shares in 1"8&. ;he shares of
the 3ompany are listed in the Dha(a and Chitta:on: Sto3( 6<3han:es of 9an:ladesh.
;he re:istered offi3e of the 3ompany is lo3ated at )A)+, Moti.heel Commer3ial area
Dha(a N 1!!!, 9an:ladesh. ;he industrial Fnits are lo3ated at %an3hpur and 9ondar of
$rayan:on.
;he prin3ipal a3ti7ities of the 3ompany throu:hout the year 3ontinued to be
manufa3turin: and mar(etin: of Dry Cell 9attery, 9is3uit > Candy and 6le3tri3 9ulb
items
;he findin:s > and re3ommendations about ?lympi3 Industries 8td. 3omplyin: 4ith IAS
1 are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
18
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
O
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
O 6nou:h dis3losure is
not made. $e3essary
numeri3al presentation
> indi3ation in the notes
ha7e to be
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE O
1"
non3urrent assets > liabilities
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
O
!
e<penses
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
9) Company $ame: (ftab (utomobiles Ltd.
Aftab Automobiles 8td., the lar:est automobile assemblin: plant in the pri7ate se3tor 4as
in3orporated in 1")/ and 3on7erted to a Bubli3 8imited Company in 1"81. ;he re:istered
?ffi3e of the 3ompany is in at1*EA, Moti.heel Commer3ial Area, Dha(a. ;he 3ompany
4as listed 4ith Dha(a Sto3( 6<3han:e and Chitta:on: Sto3( 6<3han:e 8imited in the
year 1"8/ and 1"") respe3ti7ely.
;he finan3ial a3ti7ities of the 3ompany throu:hout the period 4ere assemblin: of ;oyota
8and Cruiser soft topE Bi3( up, 8and Cruiser Brado, 'ino 9us, 'ino Mini 9us, E ;ru3(
Chassis 4ith a produ3tion Capa3ity of &!! units of 7ehi3les in + shifts in assemblin:
unit. 9ut sin3e in3eption, the plant is runnin: sin:le shift 3onsiderin: the mar(et demand.
;he 3ompany has added four units namely 9?DR 9FI8DI$# F$I;, B8A$; F$I;S
9A;;60R F$I; > -F0$I;F06 F$I;. Commer3ial of 4hi3h started from May *,
1""/, $o7ember !1, 1""", Canuary !, !! and May !1, !! respe3ti7ely
1
;he findin:s > and re3ommendations about Aftab Automobiles 8td 3omplyin: 4ith IAS
1 are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
O
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h O

material 3lass of similar items

IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE
non3urrent assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
+
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
&
C) Company $ame: 7uasem %r$cells Ltd.
Tuasem Dry3ells 8imited, a publi3 limited 3ompany limited by shares, 4as in3orporated
in 9an:ladesh on 1& Cune, 1"8! under the 3ompanies A3t 1"/+. It obtained the Certifi3ate
of Commen3ement of 9usiness from the 0e:ister of .oint sto3( 3ompanies (0CSC) on the
same date. Its shares are listed on the Dha(a Sto3( 6<3han:e (DS6) and Chitta:on:
Sto3( e<3han:e (CS6)
;he 3ompany o4ns and operates a modern dry3ells fa3tory and produ3es FMA1 and FMA
+ Metal Ca3(et 9atteries and sells the same in lo3al mar(ets and also e<port the FMA1 (DA
si@e) and FMA+(AAA si@e) in forei:n mar(ets ;he Company also imported the FMA&
9atteries > 9attery operated produ3ts and sells them in the lo3al mar(ets.
;he findin:s > and re3ommendations about. Tuasem Dry3ells 8imited 3omplyin: 4ith
IAS 1 are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement of
3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin: O
*
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE non3urrent
assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
)
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O (part) Cross referen3e is :i7en
in all finan3ial
statements e<3ept 3ash
flo4 statement
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
/
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O (part)
8
D) Company $ame: 8anglades! T!ai (luminum Ltd.
9an:ladesh ;hai Aluminum 8td. Is a 3ompany in3orporated In 9an:ladesh as a publi3
3ompany 8imited by shares .;he Company started 3ommer3ial operation in its Fnit $o. 1
for fabri3ation of Aluminum doors 4indo4s et3. in 1"81 and its Fnit no. for
manufa3turin: of 6<trusion and anodi@ed and po4der 3astin: Aluminum profiles in 1""!.
;he fa3tory at %alia(our, #a@ipur and the and the fa3tory fa3ilities 3omprise of
Fnit 1:
A) -abri3ation of Aluminum door, 4indo4s et3.
Fnit :
a) Aluminum 9illet 3astin:
b) Die Manufa3turin:
3) 6<trusion of Aluminum Brofiles
d) Anodisation of e<truded Aluminum profiles
e) Bo4der 3oatin: of e<truded Aluminum Brofiles
In addition e<itin: 18!! ;onne e<trusion press and anodi@in:Epo4er 3oatin: plant the
3ompany has set nd hand 18!! ;onne aluminum e<trusion line 3apable of
manufa3turin: thinner aluminum profiles. ;he produ3tion 3apa3ity of this
nd
hand pres is
1) M. ;on per month at /*J effi3ien3y.
;he prin3ipal pla3e of business is the re:istered offi3e at ", %mal Atatur( A7enue,
9anani CEA, Dha(aA 11+, 9an:ladesh and the fa3tories are lo3ated at Chandra, %ali(oir,
#a@ipur
;he findin:s > and re3ommendations about 9an:ladesh ;hai Aluminum 8td. 3omplyin:
4ith IAS 1 are :i7en belo4:
"
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
O
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e O
+!
information in respe3t of the
pre7ious period
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE
non3urrent assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
O
+1
loss
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
+
6) Company $ame: "astern Cables Ltd.
6astern Cable 4as an enterprise of 9an:ladesh Steel > 6n:ineerin: Corporation. It 4as
in3orporated on 18A 1 1"8) under the then 3ompanies a3t, as a publi3 limited Company
> too( o7er all assets and liabilities of 6astern Cables 8td. As per 7endors a:reement. It
offered itIs &"J share to the :eneral publi3 > employees of the 3ompany in 1"8/ .;he
hares of the 3ompany 4ere listed 4ith in the Dha(a to3( 6<3han:e 8td., and Chitta:on:
Sto3( 6<3han:e 8td. 0espe3ti7ely on 18A1A8/ and 1"A!)A1""/
;he re:istered offi3e of the 3ompany is lo3ated at 9S6C 9haban, 1!, %a@i $a@rul Islam
A7enue, %ar4an 9a@ar, Dha(aA 11* > its fa3tory lo3ated at Baten:a, Chitta:on:
;he findin:s > and re3ommendations about 6astern Cables 8td. 3omplyin: 4ith IAS 1
are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
O
++
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE
non3urrent assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
+&
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of O
+*
estimation un3ertainty
IAS 1.1) Dis3losure of other ne3essary
notes
O
+)
-) Company $ame: National Tubes Ltd.
$ational ;ubes 8imited 4as established in the pri7ate se3tor in 1")&. It 4as nationali@ed
and pla3ed under S6C in 1"/. ;he enterprise 4as transformed into a publi3 limited
3ompany in "8" by offloadin: &" per3ent shares to the :eneral publi3. ;he 3ompany is
no4 mana:ed by a so7erei:n board of dire3tors
;he fa3tory is situated on the Dha(aAMymensin:h hi:h4ay on 1&.+1 a3re land at at 1+A
1& ;on:i Industrial Area N ! (m north of the 3apital 3ity. ;he total manpo4er is +)/
$ational ;ubes Brodu3es $ational ;ubes 8td.
t4o types of steel pipes: #eneral purpose ms and :i pipes and api pipes
;he findin:s > and re3ommendations about $ational ;ubes 8td. 3omplyin: 4ith IAS 1
are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
O
+/
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE
non3urrent assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
IAS 1.)* 0e3o:nition of 3urrent liabilities $o su3h reportable
+8
in 3ase of payment on demand findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of O
+"
estimation un3ertainty
IAS 1.1) Dis3losure of other ne3essary
notes
O
&!
#) Company $ame: S. (lam Cold /olled Steels Ltd.
S. Alam Cold 0olled Steels 8td. 2as in3orporated on De3ember, !!! 7ide the
3ertifi3ate U CA$o. +8& of !!! as a publi3 8imited 3ompany 4ith an authori@ed share
3apital of t(. +*! 3rores di7ided into +.* 3rores ordinary shares of t(. 1!! ea3h.
;he fa3tory is situated on 1&.*) a3res of land at %alarpool, Shi(albaha, Batiya, and
Chitta:on: mainly to produ3e hi:h =uality Cold 0olled Steel Strips (C0 Strips) in the
form of 3oils and sheets 4ith an appro7ed annual 3apa3ity of 1!,!!! ;ons. ;he pro.e3t
3ommen3ed 3ommer3ial produ3tion on 1)
th
-ebruary, !!&
;he prin3ipal a3ti7ity of the 3ompany is to produ3e and sell hi:h =uality Cold 0olled
Steel Strips (C0 Strips) in the form of 3oils and sheets
;he findin:s > and re3ommendations about S. Alam Cold 0olled Steels 8td.
Complyin: 4ith IAS 1 are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin: O
&1
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE non3urrent
assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
&
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
&+
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
&&
') Company $ame: (tlas 8anglades! Ltd.
Atlas 9an:ladesh 8imited 4as in3orporated as pri7ate limited 3ompany in 1")) and
thereafter as per #o7ernmentIs de3ision it 4as 3on7erted into a publi3 limited 3omapy in
1"8/. ;he 3ompany assembles motor 3y3le and mishu((three 4heeler) and also imports
spare parts. It also manufa3tures and mar(ets some of these parts lo3ally. In 9an:ladesh.
Atlas 9an:ladesh 8imited I the sole representati7e of 'onda Motor Company 8imited,
Cpan, 'ero 'onda 8imited, India and Atlas 'onda 8imited, Ba(istan.
;he share of the 3ompany is listed in the Dha(a e<3han:e 8imited, 9an:ladesh. ;he
re:istered offi3e of the 3ompany is situated at ))A+)/ ;on:i Industrial Area, ;on:i,
#a@ipur
;he findin:s > and re3ommendations Atlas 9an:ladesh 8td. Complyin: 4ith IAS 1 are
:i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
IAS 1.1) Inappropriate a33ountin: O
&*
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE non3urrent
assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
if due 4ithin 1 months
$o su3h reportable
findin:s.
&)
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
&/
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
&8
I) Company $ame: (tlas 8anglades! Ltd.
Atlas 9an:ladesh 8imited 4as in3orporated as pri7ate limited 3ompany in 1")) and
thereafter as per #o7ernmentIs de3ision it 4as 3on7erted into a publi3 limited 3omapy in
1"8/. ;he 3ompany assembles motor 3y3le and mishu((three 4heeler) and also imports
spare parts. It also manufa3tures and mar(ets some of these parts lo3ally. In 9an:ladesh.
Atlas 9an:ladesh 8imited I the sole representati7e of 'onda Motor Company 8imited,
Cpan, 'ero 'onda 8imited, India and Atlas 'onda 8imited, Ba(istan.
;he share of the 3ompany is listed in the Dha(a e<3han:e 8imited, 9an:ladesh. ;he
re:istered offi3e of the 3ompany is situated at ))A+)/ ;on:i Industrial Area, ;on:i,
#a@ipur
;he findin:s > and re3ommendations Atlas 9an:ladesh 8td. Complyin: 4ith IAS 1 are
:i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+ -aithful representation of the
effe3ts of transa3tions > other
e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
&"
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
O
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE non3urrent
assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
$o su3h reportable
findin:s.
*!
if due 4ithin 1 months
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O
IAS 1.1!* Bresentin: the notes in
3omplian3e 4ith the I-0S
O
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
*1
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
*
C) Company $ame: 8anglades! Lamps Ltd.
9an:ladesh 8amps 8imited is a publi3 limited 3ompany in3orporated in 1"! in
9an:ladesh under the Companies A3t 1"1+.;he Company has an authori@ed 3apital of
ta(a *!! million di7ided into * million ordinary hares of ta(a 1!! ea3h. ;he shares of the
3ompany are publi3ly traded in Dha(a and Chitta:on: Sto3( 6<3han:es.
;he entire shareholdin: of Bhilips 'olland 4as sold and transferred on Mar3h &, 1""+ to
;rans3om 8imited. 0emaini: &*."J share are held by ;rans3om 6le3troni3s 8imited.
And :eneral publi3 in3ludin: forei:n in7estors.
;h address of the 3ompany is Sadar 0oad, Moha(hali, and Dha(aA1!)
;he 3ompany produ3es and sells Bhilips, ;ranste3 and Saini( ele3tri3 bulbs in lo3al
mar(et. ;he 3ompany has started trial produ3tion of 6-8 (6ner:y Sa7in: 8amp) durin:
the year !!/
;he findin:s > and re3ommendations about 9an:ladesh 8amps 8td. Complyin: 4ith
IAS 1 are :i7en belo4:
Condition
No.
Title
Compliance Status
4 put 5 in t!e
appropriate column6
Comments
Complied Not
Complied
IAS 1. Appli3ation of I-0S O As appli3able in
9an:ladesh
IAS 1.+ -inan3ial Statements made 4ith
the intention of ser7in: the
:eneral users 4ho do not ha7e
the authority to demand it.
O
IAS 1./ ?b.e3ti7e of -inan3ial Statements O
Fair Presentation and Compliance )it! IF/Ss
IAS 1.1+
-aithful representation of the effe3ts
of transa3tions > other e7ents
O
IAS 1.1& 6<pli3it > unreser7ed statement
of 3omplian3e in the notes
O
*+
IAS 1.1) Inappropriate a33ountin:
poli3ies are not re3tified either
by dis3losure of the a33ountin:
poli3ies used or by e<planatory
material
O
IAS 1.1/A18 Detailed dis3losure of the nature,
reasons, and impa3t of non
3omplian3e 4ith the I-0S
$o su3h reportable
findin:s.
IAS 1.+ #oin: Con3ern O
IAS 1.* A33rual 9asis of A33ountin: O
IAS 1./ Consisten3y of Bresentation O
1aterialit$ and (ggregation
IAS 1." Separate presentation of ea3h
material 3lass of similar items
O
IAS 1.+ ?ffsettin: assets and liabilities,
in3ome and e<penses
$o su3h reportable
findin:s.
IAS 1.+) Dis3losure of 3omparati7e
information in respe3t of the
pre7ious period
O
IAS 1.+8 Parious dis3losure in 3ase of
re3lassifi3ation
$o su3h reportable
findin:s.
IAS 1.&) Clearly identify the stru3ture and
3ontent of finan3ial statements in
:eneral
O
IAS 1.&" 0eportin: Beriod O
( Statement of Financial position
IAS 1.*1 Separation of 3urrentE non3urrent
assets > liabilities
O
IAS 1.* -ull dis3losure in 3ase of
3ommin:lin: lon:Aterm > shortA
term amounts
$o su3h reportable
findin:s.
IAS 1.*/ Current assets O
IAS 1.)! Current liabilities O
IAS 1.)& 8on:Aterm debt e<pe3ted to be
refinan3ed under an e<istin:
loan fa3ility is non3urrent, e7en
$o su3h reportable
findin:s.
*&
if due 4ithin 1 months
IAS 1.)* 0e3o:nition of 3urrent liabilities
in 3ase of payment on demand
$o su3h reportable
findin:s.
IAS 1.)) 0e3o:nition of non3urrent items $o su3h reportable
findin:s.
IAS 1.)8 Minimum items re=uired on the
fa3e of the balan3e sheet
O
IAS 1.)" Additional line items needed to
fairly present the entityIs
finan3ial position
$o su3h reportable
findin:s.
IAS 1./) Dis3losures re:ardin: issued
share 3apital and reser7e
O
IAS 1.81 Minimum items re=uired on the
fa3e of the in3ome statement
O
IAS 1.8 Dis3losure of ne3essary items on
the fa3e of the in3ome statement
re:ardin: allo3ation of profit >
loss
O
IAS 1.8* $on presentation of
Qe<traordinary itemsI
O
( Statement of Compre!ensi-e Income for t!e Period
IAS 1.8/ Dis3losure of 3ertain material
items
O
IAS 1.88 Analysis of e<penses either by
nature or by fun3tion
O
IAS 1."+ Dis3losure of additional
information on the nature of
e<penses
O
IAS 1.1! Bresentin: the 3ash flo4
statement
O
Notes to t!e Financial Statements
IAS 1.1!& CrossAreferen3e of notes O (part) Cross referen3e is :i7en
in all finan3ial
statements e<3ept 3ash
flo4 statement
IAS 1.1!* Bresentin: the notes in O
**
3omplian3e 4ith the I-0S
IAS 1.1!8 Appli3ation of si:nifi3ant
a33ountin: poli3ies
O
IAS 1.11+ Dis3losure of .ud:ments O(part) Additional information
needed
IAS 1.11) Dis3losure of (ey sour3es of
estimation un3ertainty
O
IAS 1.1) Dis3losure of other ne3essary
notes
O
*)
We can summari9e our findings in table as presented belo):
I(S 1
Sub Section
1. 1.' 1.2 1.1' 1.1+ 1.10 1.12:13 1.' 1.. 1.2
,l$mpic
Industries
Ltd.:
O O O O O O $o su3h
reportable
findin:s.
O O O
(ftab
(utomobiles
Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
7uasem
%r$cells
Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
8anglades!
T!ai
(luminum
Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
"astern
Cables Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
National
Tubes Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
S. (lam
Cold /olled
Steels Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
(tlas
8anglades!
Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
/angpur
Foundr$
Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
8anglades!
Lamps Ltd.
O O O O O O $o su3h
reportable
findin:s.
O O O
*/
I(S 1
Sub Section
1.; 1.' 1.'0 1.'3 1.+0 1.+; 1..1 1.. 1..2 1.0<
,l$mpic
Industries
Ltd.:
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
(ftab
(utomobiles
Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
7uasem
%r$cells
Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
8anglades!
T!ai
(luminum
Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
"astern
Cables Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
National
Tubes Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
S. (lam
Cold /olled
Steels Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
(tlas
8anglades!
Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
/angpur
Foundr$
Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
8anglades!
Lamps Ltd.
O $o su3h
reportable
findin:s.
O V O O O $o su3h
reportable
findin:s.
O O
*8
I(S 1
Sub Section
1.0+ 1.0. 1.00 1.03 1.0; 1.20 1.31 1.3 1.3. 1.33
,l$mpic
Industries
Ltd.:
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
(ftab
(utomobiles
Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
7uasem
%r$cells
Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
8anglades!
T!ai
(luminum
Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
"astern
Cables Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
National
Tubes Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
S. (lam
Cold /olled
Steels Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
(tlas
8anglades!
Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
/angpur
Foundr$
Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
8anglades!
Lamps Ltd.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
$o su3h
reportable
findin:s.
O $o su3h
reportable
findin:s.
O O O O O
*"
I(S 1
Sub Section
1.;3 1.1< 1.1<+ 1.1<. 1.1<3 1.11' 1.110 1.10
,l$mpic
Industries
Ltd.:
O O O O O O(part) O O
(ftab
(utomobiles
Ltd.
O O O O O O(part) O O
7uasem
%r$cells
Ltd.
O O O(part) O O O(part) O O
8anglades!
T!ai
(luminum
Ltd.
O O O O O O(part) O O
"astern
Cables Ltd.
O O O O O O(part) O O
National
Tubes Ltd.
O O O O O O(part) O O
S. (lam
Cold /olled
Steels Ltd.
O O O O O O(part) O O
(tlas
8anglades!
Ltd.
O O O O O O(part) O O
/angpur
Foundr$
Ltd.
O O O O O O(part) O O
8anglades!
Lamps Ltd.
O O O(part) O O O(part) O O
)!
T!e )!ole information about t!e findings of t!e report can be
s!o)n in t!e form of a pie c!art gi-en belo):
=ere
Complied:
Not Complied:
No Suc! /eportable Findings:
)1
; Conclusions
;he idea of establishin: International A33ountin: Standard 4as to ma(e sure that same
rules and re:ulations are follo4ed in 3ase of preparin: the finan3ial statements all o7er
the 4orld. Another purpose 4as to help the :eneral publi3 ta(in: de3isions re:ardin:
buyin: and sellin: of shares of the listed 3ompanies. Si:nifi3ant 3han:es ha7e been made
in IAS re3ently in order to ma(e in reliable as 4ell as rele7ant for the finan3ial de3ision
ma(ers. ?ne of the most si:nifi3ant 3han:es is pro7ision for preparin: Statement of
Comprehensi7e In3ome 4hi3h 4ill be appli3able from !1!.
A33ordin: to Se3urities and 6<3han:e Commission, all the publi3 limited 3ompanies
listed under Dha(a and Chitta:on: Sto3( 6<3han:e ha7e to follo4 all rules and
re:ulations pro7ided by IAS. In this report 4e studied the 3omplian3e le7el of the Steel
and 6n:ineerin: 3ompaniesI re:ardin: IAS 1
In our study 4e ha7e happily found that most of the 3ompanies are 3omplyin: 4ith IAS
1, thou:h in some 3ases 4e found some misrepresentations of the pro7isions of IAS 1.
Also mentionable that, in a lot of 3ase 4e failed to find enou:h information needed for a
3lear .ud:ment.
Most of the 3ompanies 4e studied 4ere listed as QAI :rade 3ompanies in Dha(a sto3(
6<3han:e. ;he situation may 7ary in 3ase of lo4 :raded 3ompanies. 'o4e7er, a33ordin:
to our study 4e 3an say that the 6n:ineerin: 3ompanies listed under Dha(a Sto3(
6<3han:e follo4 International A33ountin: Standard 1
)
1< 8ibliograp!$ # (ppendices
/eferences:
Ahmed, %. (1"")) >%isclosure polic$ c!oice and corporate c!aracteristics: a stud$ of
8anglades!?, Asia Ba3ifi3 Cournal of A33ountin:, pp. 18&!+.
Ahmed, %. and Des $i3holls (1""&) @T!e Impact of Nonfinancial
Compan$ C!aracteristicson 1andator$ %isclosure Compliance in %e-eloping
Countries: T!e Case of8anglades!@, ;he International Cournal of A33ountin:
6du3ation and 0esear3h, ", pp. )//.
9el(aoui, A. and A. %ahl (1"/8) >Corporate Financial %isclosure in Canada?A
0esear3hMono:raph $o. 1 of Canadian Certified #eneral A33ountants Asso3iation,
Pan3ou7er
Cairns, D. (1""*6.? ( guide to appl$ing international accounting standards.L
8ondon: ;he Institute of Chartered A33ountants in 6n:land and 2ales.
Cerf, A. 0. (1")1) Corporate /eporting and In-estment %ecisionsA 8er*ele$,
Fni7ersity of California Bress.
Choi, -. D. S. (1"/+) @Financial %isclosure and "ntr$ to t!e "uropean Capital
1ar*et5 Cournal of A33ountin: 0esear3h, Autumn, pp. 1*"1/*.
%handel4al, $. M. and 0. S. A:ar4al (1""16 @%isclosure Practices of Public
"nterprises in India@A Indian Cournal of A33ountin:, De3ember, pp. +&&&.
Bradhan, 9. 9. (1""!) @Corporate Financial /eporting Practices in India
Industr$)ise(nal$sis@, Indian Cournal of A33ountin:, pp. +&+.
)+
Sin:h7i, S. S. (1")/) Corporate %isclosure T!roug! (nnual /eports in t!e BS( and
IndiaAFnpublished Do3toral Dissertation, #raduate S3hool of 9usiness,
ColumbiaFni7ersity.
Sin:h7i, S.S. and 'arsha 9. Desai (1"/1) 5(n "mpirical (nal$sis of t!e 7ualit$ of
Corporate Financial %isclosure5, ;he A33ountin: 0e7ie4, Canuary, pp. 1"1+8.
2alla3e, 0. S. ?. (1"8/6 %isclosure of (ccounting Information in %e-eloping
Countries: (Case Stud$ of NigeriaA Do3toral Dissertation, Fni7ersity of 6<eter, De7on.
2alla3e, 0. S. ?. (1"88) @Corporate Financial /eporting in Nigeria@A A33ountin: and
9usiness 0esear3h, 18 (/) Autumn, pp. +*+).
)&