Bookkeepers are people who keep track of an organization’s general ledgers. Purchases, sales, receipts, and payments by an individual or an organization/corporation are all examples of transactions. In most cases, bookkeeping does not necessitate any special abilities. A bookkeeper is in charge of determining which accounts should be used to record transactions. If you’re hiring employees and expect a lot of growth, you might want to hire a controller to handle your financial management and accounting.

Accounting manuals are internally developed documents that contain policies and procedures that are typically maintained within a company. They are primarily used to train new employees and keep the organization’s norms up to date. The ISO 9001 approach can be used to create an accounting manual. While ISO 9001 is frequently associated with manufacturing and production, it is actually a method for developing universally applicable management systems. The accounting manual would include information on organizational structure (your org chart), designated responsibilities of management and staff members, as well as identifying core accounting processes and their interactions, using an ISO process approach.

An Operations Manual is what contains procedures, instructions and guidance for use by operational personnel in the execution of their duties. It usually documents how a business operates, from opening the door in the morning, to closing the door at night. In other words, documenting a turnkey operation. The company procedure manual is a valuable asset for a company seeking to grow without the headaches that usually come with business growth. An operations manual is much needed to relieve the top management with problems that usually come with business growth.

Liquidation is the process of a company dissolving or ceasing operations. According to Bangladeshi law, there are two types of liquidation: voluntary and involuntary liquidation. In either case, the entity undergoing liquidation will require accounting and auditing services to create a final report, consolidate and report missing audit reports, weigh financial liabilities, and so on.

You are not required to follow the procedures of other accounting firms. Recognize and capitalize on your areas of expertise. You may also need to conduct additional research into the Bangladeshi accounting market. This allows you to determine what people require and assist them in resolving their accounting issues. Incorporating a business does not have to be difficult.

Why should I start my business in Bangladesh, when there are so many other places to start a business? We’ll explain that , Bangladesh as Asia’s most important international destination, offers a plethora of advantages for starting an accounting firm. You will not only be able to take advantage of the many incentives and tax breaks offered by the Bangladeshi government, but you will also be able to conduct business in the world’s leading accounting hub and business center. Aside from that, as an entrepreneur, you’ll be collaborating with some of the best minds in the industry.

Bangladesh’s Generally Accepted Accounting Principles (GAAP) are based on ICAB standards, which have stated their intent to adopt International Financial Reporting Standards. Except for IAS 39, IAS 29, and IFRS 9 [1], ICAB has adopted the IFRS as issued by the IASB since 2013. All foreign and domestic companies listed on the Dhaka Stock Exchange (DSE) and/or the Chittagong Stock Exchange (CSE) are required to use IFRS. 

An entrepreneur must follow specific procedures and legal requirements in order to starting an accounting business in Bangladesh. The entrepreneur must first obtain a Name Clearance Certificate from the Registrar of Joint Stock Companies and Firms (RJSC). The next step is to pay stamp duty at a Designated Bank and reapply for registration with RJSC after receiving the certificate. Following that, the company will create a seal, open a bank account, and file an application for a trade license with the appropriate City Corporation or Municipal Corporation. The entrepreneur must apply to the National Board of Revenue after completing all procedures (NBR). After completing all procedures, the entrepreneur must apply for a TIN Certificate from the National Board of Revenue (NBR) and register with the Customs, Excise, and VAT Commissionerate. Last but not least, the investor must register with the Bangladesh Investment Development Authority (BIDA).