Standards of Accounting
We Maintain the Standards of Accounting:
The financial statements of the Bangladesh knitwear Manufacturers and Exporters Association are prepared on Accrual basis under historical cost convention and in accordance with International Accounting Standards (IAS) so far adopted by The Institute of Chartered Accountants of Bangladesh (ICAB). We prepared financial statements on a going concern concept in accordance with Generally Accepted Accounting Principles (GAAP). Financial transaction are recorded both Accounting Software and Manually. The most important objective of our accounts department is to keep accurate financial records. It helps us to meet our legal requirements and ensuring true and fair view. We consider external audits to prevent fraud, and institute policies and procedures for controlling an accounting department provide accounting services and financial support to the organization it belongs. The department records account payable and receivable, inventory, payroll, fixed assets and all other financial elements. The department’s accountants review the documents of each unit to find out the company’s financial position and any changes required to run the organization cost-effectively