Thoughts, ideas and views from our experts and industry leaders
Watch out! IFRS Alerts
Amendment to IAS 12 for deferred tax related to assets and liabilities arising from a single transaction International Accounting Standards Board (IASB) in May 2021
CFO Talks: Mainur Rahman Bhuiyan of Syngenta Bangladesh Limited
ESS Leadership Series CFO Talks: Mainur Rahman Bhuiyan Grab the opportunity, keep sharpening your networking and professional skills and prepare for your dream roles.
Sensing the changes: Finance Act 2020
Preamble The tax revenue-to-GDP ratio in Bangladesh is one of the lowest in the world (9.4% in 2017-18 ) and it is, in part, explained
‘Holding of cryptocurrencies’- Some clarification on accounting
The Committee concluded that IAS 2 Inventories applies to cryptocurrencies when they are held for sale in the ordinary course of business. If IAS 2 is not applicable, an entity applies IAS 38 Intangible Assets to holdings of cryptocurrencies.
Food waste accounting-measuring waste matters
Food waste reduction has economic, social and environmental benefits and, hence, restaurants, modern groceries, food & beverage companies and even public offices like city corporations in Bangladesh should take waste reduction initiatives. Setting food waste reduction targets, measuring progress towards the targets and communicating the process and outcome of the waste reduction initiatives in a single global language like FLW Standard will make the whole process more understandable and transparent.
Automation of finance function – do it right
Businesses that do not transform will be extinct, because transformation for business is what adaptive evolution is for species of animals and plants. But it is important to choose the right pace, scale and tools for transformation, otherwise, no matter how much money and time you spend, transformation programs are doomed to failure.
Bangladesh’s progress in three graphs
Bangladesh’s success in socio-economic development is being discussed in different forums and many graphs and statistics are being used to support the success story. ESS & Partners picked these three graphs that summarize the success story well.
Reverse factoring can create substantial benefits across the supply chain and can be a better alternative to other working capital management schemes. Suppliers and buyers should make sure, before being engaged in this, that this is consistent with their long-term financial strategies and their back-office functions are efficient enough to get the maximum benefits out of this.
Modern grocery retail in Bangladesh-seven strategic levers for growth
Rising purchasing power, growing participation of women in economic activities and behavioral changes associated with rising purchasing power (e.g. looking for convenience and quality, brand loyalty) suggest a bright future for ‘modern grocery retail’ sector in Bangladesh.
‘Hey! think like an entrepreneur’
Entrepreneurship is neither concerned with only venture creation nor is it a ‘either-or’ phenomenon. These misconceptions are dangerous in that they may prevent organizations and individuals from utilizing the power of entrepreneurial process. Executives should focus on understanding the behaviors and attitudes underlying the entrepreneurial process and creating an environment where those behaviors and attitudes are encouraged and rewarded.
Watch out! Transition to IFRS 16 ahead
Most lessees will find that a range of accounting outcomes on transition is possible because of several policy choices permitted in IFRS 16. We suggest that lessees having lease contracts with significant financial impact evaluate all the possible consequences of different transition approaches and then decide what approach best suits them.
Strategic leadership in the 21st century
Strategic leadership is all about making choices on behalf of an organization and its stakeholders, choices that have significant impact on the organization’s present and future and sometimes on the society’s present and future as well.
Leases are no longer off-balance sheet items
IFRS 16 is going to replace IAS 17 Leases and brings in changes in the accounting for leases, particularly for lessees, that is quite different from the accounting for leases we have known and practiced for ages.
BD to emerge as 24th Economy in 2033
BD to emerge as 24th Economy in 2033 Bangladesh is a country with potentials and we have seen these potentials unlocking over the years; World