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Guide to Setup Bangladesh Business
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Bangladesh Industry Digital Plan
Corporate Compliance Requirement
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Bangladesh Taxation
Improve Your Accountancy Industry Digital Plan With Us
NetworkBD offers professional services to keep your company focused on its most important goals. We offer strategic Accountancy Industry Digital Plan services in Bangladesh, designed to assist you to achieve your objectives. We provide the outsourced solutions your business requires to flourish by providing exceptional customer service, properly defined policies, and procedures, and a forward-thinking approach. NetworkBD would be delighted to meet with you to discuss solutions tailored to your specific needs in order to optimize all of your business potentials.
Our Effective Roadmap For Accountancy Industry
We have a digital roadmap for SMEs that gives a three-stage guide to digital solutions:
Stage 1: Preparing for the Digital Economy
The first step will assist SMEs in the accountancy industry digital plan in their transition to the digital economy. The following are some fundamental digital solutions that can aid in streamlining operations, optimizing resources, and increasing productivity:
- Management of audits
- Accounting in the cloud (e-Invoicing)
- Auditing data analytics
- Document management via the internet
- Screening for Know Your Customer (KYC) and Anti-Money Laundering (AML)
- Management of the practice
Stage 2: Developing Your Business in the Digital Economy
The second stage offers digital solutions that enable firms to connect for frictionless transactions and to consolidate data from SMEs, resulting in business insights. The following are some examples of digital solutions:
- Advisory data analytics
- e-Payment
- For frictionless transactions, an integrated e-Platform is available.
Stage 3: Making a Leap of Faith
The third level describes advanced digital technology that SMEs can leverage to generate innovative services and smarter enterprises while also enhancing operations and accountancy industry digital plan services delivery.
This focuses on the application of Artificial Intelligence (AI)-enabled digital technologies for corporate operations and audit and accounting services. Allowing digital audit trails, which can help to expose high-risk regions based on industry and data patterns, and deploying AI-enabled chatbots for normal customer service are two examples.
Special Digital Course To Ensure Successful Accountancy
As the accounting industry grows and evolves, so are the digital skills needed to keep up.
To stay up with digitalization, job positions will almost certainly require upskilling, and it is best to prepare early by providing the necessary training.
There are two sorts of courses for beginners and advanced users:
Basic Courses
These are necessary for all users since they lay the groundwork for bettering digital literacy and awareness. The following are some examples of such courses for the accountancy industry digital plan:
- An Overview of Cybersecurity
- Enhancing Audit Effectiveness, Risk Management, and Business Analysis using data Analytics
- An Introduction to Blockchain Technology for Accounting & Finance Professional
- Finance and Machine Learning
Advanced Training
These are recommended for those who desire to gain a high level of digital expertise. The following are some examples of such courses for the accountancy industry digital plan:
- Learning Journey with Regulations, RegTech and Digital Risk
- Decision-makers Guide to Cyber Forensics and Cybersecurity
- Strategic and Organizational Performance Using Business Analytics
- Python as a Tool for AI Foundations
Advanced Training
These are recommended for those who desire to gain a high level of digital expertise. The following are some examples of such courses for the accounting industry:
- Learning Journey with Regulations, RegTech, and Digital Risk
- Decision-makers Guide to Cyber Forensics and Cybersecurity
- Strategic and Organizational Performance Using Business Analytics
- Python as a Tool for AI Foundations
We Ensure A Great Future Of The Accountancy Industry
It has been said that accounting is the language of business. Accounting’s ever-evolving digital technology will have an impact on financial professionals’ future in ways that have yet to be envisaged.
The formation, representation, and transmission of financial data in an electronic format are referred to as digital accounting. The financial business has been changed by computers and accounting software. accountancy industry digital plan has improved the accountant’s capacity to evaluate and report data more quickly, efficiently, and effectively than ever before.
Various digital solutions, such as data quality control, paperless accounting, transparency creation, real-time reporting, system uniformity, big data analysis, cloud computing, and so on, made things easier.
Savings in both time and money
Digital accounting helps you save time and money. It not only speeds up accounting procedures like statements, reporting, invoicing, and budgeting, but it also eliminates the need to engage a bookkeeper to double-check the accuracy of the accounts.
Financial Reports Are Easily Accessible
The financial management team can prepare financial reports in minutes using Accountancy Industry Digital Plan like accounting software. Cash flow statements, profit and loss statements, and balance sheets are examples of these reports. The best aspect is that using most of these tools does not necessitate much training. As a result, reports can be generated without the assistance of a financial professional.
Enhance data security
As the incidence of cyberattacks rises, it’s more critical than ever to put data security first. Extra security layers, such as allowed access, two-factor authentication and regular backup, secure the new-age accounting software. Additional security measures include encryption, firewall protection against phishing attacks, data storage in various data centers and so on. Contact us if you need accountancy industry digital plan services.
FAQ For Accountancy Industry Digital Plan
In Bangladesh, which accounting standard is used?
Bangladesh has embraced the International Financial Reporting Standards (IFRS). Are there any more remarks on the adoption status? Following the foundation of FRC and the signing of a contract with the IFRS Foundation in June 2020, FRC has begun the process of adopting IFRS Standards.
How does Accountancy Industry Digital Plan Help you?
Small and Medium-sized Practices (SMPs) can benefit from the Accountancy Industry Digital Plan (IDP), which helps them implement technology for increased efficiency and competitiveness. Its three main strategies are to improve digital skills and knowledge, promote technology adoption, and develop accounting technology and innovations.
How can I improve my accountancy?
- Reconciliation should be done on time.
- Put in place cutoff policies and stick to them.
- It is never a waste of time to conduct research.
- Make sure you pay your taxes.
- Take advantage of the situation.
- Ensure that accounting and reporting are in sync.
- Accounting can be done on the cloud.
- Don’t treat accounting as if it were merely a matter of following the rules.
Do I have great career prospects in Bangladesh?
ACCA Bangladesh has already certified more than 200 Bangladeshis as accountants. Nearly 150 of them have moved to other countries, primarily Europe, the United States, and Australia, where they have found high-paying positions. “In Bangladesh, we’re getting a lot of positive feedback from pupils.