A C C O U N T I N G P R A C T I S E S I N

A DVA N C E D C H E M I C A L I N D U S T RY

O B J E C T I V E S

Learn About ACI Ltd.Learn About Their History, Mission, Vision And Views.

Learn About Their Style Of Using Accounting.Analyze Their Ways Of Using Accounting.

A S I F M A H M U D B 1 5 0 6 0 2 8K O W S H I K A Z A D B 1 5 0 6 0 5 1M A H I R S H A H R I A R B 1 5 0 6 1 0 9TA N V I R A H M E D B 1 5 0 6 1 7 6TA R E K M U S A N N A B 1 5 0 6 0 6 4

M E M B E R S

C O N T E N T S

C O M P A N YO V E R V I E W

T I M E L I N E P R O D U C T SC O M P E T I T O R

A N A L Y S I S

CONTENTS

M I S S I O N

V I S I O N

V A L U E S

CONTENTS

A C C O U N T I N G S TA N D A R D

R E C O R D I N G T R A N S E C T I O N S

A C C O U N T I N G S Y S T E M

CONTENTS

E R R O R S O L U T I O N

B A S I S O F A C C O U N T I N G

A C C O U N T I N G E N T R I E S

CONTENTS

I N V E N T O R Y S Y S T E M

C O S T F L O W A S S U M P T I O N

C O N T R O L P R O C E D U R E S

CONTENTS

F R A U D C O N T R O L

D E P R E C I AT I O N

D I V I D E N D P O L I C Y

C O M PA N Y O V E R V I E W

1 9 9 2 : A C Q U I S I T I O N F R O M I C I A C O N G L O M E R AT E N O W

1 9 6 8 ESTABLISHED

1 9 9 5 ISO 9001:2000

1 9 9 2ACI LTD.

T I M E L I N E

2 0 0 6 ISO 9002

2 0 0 0ISO 14000

N O WONE OF THE BIGGEST BD

CONGLOMERATES

V E N T U R I N G I N TO T H E I N T E R N AT I O N A L S C E N E

P R O D U C T S

Agribusiness Pharmaceuticals Consumer Products

1 7 D I F F E R E N T S U B S I D I E R I E S

C O M P E T I TO R S A N A LY S I S

S Q UA R E P H A R M A P R A N F O O D

M I S S I O N

“… to enr ich the qua l i ty of l i fe of people through respons ib le appl icat ion of knowledge, sk i l l s and

technology.

…committed to the pursu i t o f exce l lence through wor ld -c lass products , innovat ive processes and empowered

employees to prov ide the h ighest leve l o f sat i s fact ion to i t s customers . “

V I S I O N

• Attain a position of leadership in each category of its businesses.

• Promote an environment for learning and personal growth of its employees.

• Attain a high level of productivity in all its operations through effective andefficient use of resources, adoption of appropriate technology and alignmentwith our core competencies.

• Provide products and services of high and consistent quality, ensuring value formoney to its customers.

VA LU E S

Quality. Customer Focus.

Fairness. Transparency.

Continuous Improvement. Innovation.

SWOT ANALYSIS

S T R ENGTH WEAKNE S S OPPORTUN I T Y THR EAT

r e d u c e d l a b o r c o s t s g r o w t h r a t e

d o m e s t i c m a r k e t

f u t u r e p r o f i t a b i l i t y

c o s t st a x s t r u c t u r e

g r o w i n g d e m a n d

n e w a c q u i s i t i o n s

g l o b a l e c o n o m yf i n a n c i a l c a p a b i l i t y

A N A LY S I S A N D F I N D I N G S

A C C O U N T I N G S TA N D A R D

IFRS a set of accounting standards developed by International Accounting

Standards Board (IASB). The goal of IFRS is to provide a global framework for how public companies

prepare and disclose their financial statements. IFRS provides general guidance for the preparation of financial statements,

rather than setting rules for industry-specific reporting.

R E C O R D I N G T R A N S E C T I O N

Double Entry System through T -Accounts Monetary Unit Assumpt ion Economic Ent i ty Assumpt ion

A C C O U N T I N G S Y S T E M

Too Many Transect ions to Handle Manual ly Ful ly Customized Software

Al lows to Set Up and Prepare a l l k inds of Account ing Documents

E R R O R S O LU T I O N

ACI Limited uses Adjusting entry for Error Solution.

A C C R UA L B A S I S A C C O U N T I N G

The company solely depends on the accrual basis accounting as it follows IFRS.

A C C O U N T S E N T R I E S

Three Column Entry Compound Entry

F I S C A L Y E A R

Calendar Year 1 January – 31 December

Wil l Switch to Ju ly – June From Next Year inAccordance with to Govt . Regulat ions

I N V E N TO R Y S Y S T E M

Perpetual Inventory System Better Control Over Periodic System

Keeping Track of Inventory Al l The Time

C O S T F LO W A S S U M P T I O N

Average Cost Assumption Theory In Accordance with IFRS

Advantageous For Such a Large Company

C O N T R O L P R O C E D U R E S

Qual i f ied Employees in a Restr ic ted Env ironment

“Mirror ” – Customized Software For ACI Only Developed by MIS Eng ineers

Hackproof

F R A U D C O N T R O L

Physical and Virtual Safeguards Usage of Checks for Cash Control Usage of Cash for Petty Cash Funds

D E P R E C I AT I O N

Straight L ine Method Rate Varying from 2.5-20%

No Depreciat ion Charged For Land And Capital Work- in-progress

D I V I D E N D P O L I C Y

Cash Dividend at 100% Stock Dividend at 15%

C O N C LU S I O N