Project Report

On
Financial Reporting Practices of Dutch-Bangla
Bank Limited - A Case Study

Submitted To:
Dr.Milan Kumar Bhattacharjee
Professor
School of Business
University of Liberal Arts Bangladesh

Submitted By:
Md.Khairul Islam
ID: 093011104
Dept.: USB
Program: BBA
Major in Accounting

University of Liberal Arts Bangladesh

Date: August 20, 2013

Letter of Transmittal
August 20, 2013
To
Dr.Milan Kumar Bhattacharjee,
Professor,
Business Administration
ULAB School of Business
University of Liberal Arts Bangladesh

Subject: Submission of Project Report on Financial Reporting Practices of DutchBangla Bank Limited - A Case Study.
Dear Sir,
With due respect, I am submitting my project report on Financial Reporting Practices of
Dutch-Bangla Bank Limited-A Case Study. I have to prepare this report after the completion
financial report. I have tried my level best to prepare this report as per required standard. It was
certainly a great opportunity for me to work on this report.

I would like to express gratitude from bottom of my heart to you to go through this report and
make your valuable comments. It would be very kind of you, if you please evaluate my
performance regarding this project report.

Yours sincerely,

Md.Khairul Islam
ID: 093011104
Dept.: USB
Program: BBA

Acknowledgement
At the beginning I would like to pay my gratitude to the almighty Allah for
giving me ability to work hard. I am also grateful to my parents who provided
me with the basic necessities of life since my early childhood.
Now I like to thank my honorable Sir Dr.Milan Kumar Bhattacharjee for
guiding me to opportunity to prepare this report & effortful supervision. He also
provided me some important advice and guidance for preparing such type of
new idea based report. Without his help this report could not have been a
comprehensive one.
I would like to express to my university faculty members they should be
produced the knowledge.
Finally, I like to say that, I have to prepare this project report in my own
experience to complete this report.

ii

Contents
Topic

Page No.

Letter of Transmittal ....... i

Acknowledgement ................. ii
Executive Summary ................v

Chapter: 01
Introduction ...... 01
1.01: Rational of the Study .. 02
1.02: Objectives of the Study ....... 02
1.03: Methodology of the Study .......... 02
1.04: Scope of the Study .......... 03
1.05: Limitations of the Study ...........03

Chapter: 02
Theoretical Aspects . 04
2.01: Financial Statements ....... 05
2.02: Components of Financial Statements ....... 06-10
2.03: IAS ........ 10-13
2.04: BAS ........14-16
2.05: IFRS . ........ 17-20

iii

Chapter: 03
Practical Issues .... 21
3.01: Sample Enterprise at a Glance ....... 22
3.02: Analysis of Findings .... 23-30
3.03: BFRS .............. 31
3.04: Performance Evaluation ..... 31
3.05: SWOT Analysis ......... 32

Chapter: 04
Concluding Notes .... 33
4.01: Summarized Picture ....... 34
4.02: Recommendations .. 34
4.03: Conclusion ..... 34

Bibliography ... 35

iv

Executive Summary
The banking system increasing day by day of our country. The modern economic era to
develop in industrial and commercial sector without a banking system it is to quite
impossible. This report prepared to Financial Reporting Practices Of Dutch-Bangla Bank
Limited. Dutch-Bangla Bank is the second generation commercial private Bank. Dutch
Bangla Bank is the first and only local bank in Bangladesh to have an automated banking
system. The bank has spent over Tk. 1 Billion in automation upgrades (first bank in
Bangladesh to do so).This automation took place in 2003 whereby services of the bank were
available uniformly though any branch, ATM and internet. Dutch-Bangla Bank Limited is a
well prepared to and capable of meeting the demand for a broad range of banking services .It
has got adequate resources, both human and physical, to provide the customers with the best
possible services. All the branches are fully operational computer network which is currently
being implemented. In our country there are lots of organizations performed in the field of
social activities and by increased their profit earnings ratio, among them the Dutch-Bangla
Bank is best performing in this field. We have taken some data as like profit earnings ratio
from 2008 20012, net profit data from 2008 20012, dividend per share and expenditure of
Dutch-Bangla Bank Limited, which is expensed for the corporate social responsibility. Here,
we need to assign some numerals values that we discussed in our limitations.

Chapter: 01
Introduction

1.01: Rationale of the Study

First of all a business administration to open a wide area of variety from door to door for
those purpose of wishing for career business sectors to more competitive business. The
business is a practical subject because a business student not enough knowledge gap between
theoretical and practical fields to competitive banking sectors. Now a day economic growth
for key roles of banking sectors developments of the country. In case of bank companies are
playing roles for structural developing country. As a part of BBA program in the University
of Liberal Arts Bangladesh was assigned to write a report on A Study on Financial
Reporting Practices of Dutch-Bangla Bank Limited. Those study are mainly covered the
analysis of Financial Statement to applied by Dutch-Bangla Bank Limited.
1.02: Objectives of the Study
The basic objective of our study is to know about Financial Reporting Practices of a
commercial bank. To achieve this basic objective our study covers the following specific
goals:
a)
b)
c)
d)
e)
f)

To know about financial institutions theoretically.

To get an idea about bank and banking activities.
To have a concept on financial reporting practices theoretically.
To examine financial reporting practices of a bank practically.
To detect the problems involved in the process of reporting.
To make some recommendations so that the problems may be overcome.

1.03: Methodology of the Study

A method is a systematic approach of conducting research in social science. There are several
methods of running a project research. In our study a combination of four methods has been
used:a)
b)
c)
d)

Library work method

Interview method
Observation method
Desk study method

We have used both primary and secondary data. The sources of data may be stated as follows.
Primary sources:
Face to face conversation
Personal observation
Annual report of sample organization
Secondary sources:
Annual Reports of DBBL
Also from the web sites. www.dbbl.com.bd
Internet
File study
Statement of affairs
Bank Rate Sheet

1.04: Scope of the Study

The banking sector is one of the most important of our daily life. The customer their needs to
fulfill how to satisfy they know annual report by which customers about banks current status.
I try to analysis in Dutch-Bangla Bank Limited annual report for last five years. These reports
are mainly prepared of financial report practices of Dutch-Bangla Bank Limited as great
opportunity to gather different source of information of the Bank.

1.05: Limitations of the Study

During the study I have to face some problems. The problems and limitations are:

It was very difficult to collect the information from time limitation period.
The bank employees are busy to their jobs, to the little time with consulted customers.
I carried out such as study for first time to inexperience to constraints of the study.
The required collected data are non-available.
All banks have their own secrecy that is not related to other with collected data for
interview the employees to disclose information of the confidentiality of the bank.

Chapter: 02
Theoretical Aspects

2.01: Financial Statement

A financial statement is a formal record of the financial activities of a business, person or
other entity. The financial activities of a business, an individual or any other entity. Financial
statements are meant to present the financial information of the entity in question as clearly
and concisely as possible for both the entity and for readers. Financial statements for
businesses usually include: income statements, balance sheet, statements of retained earnings
and cash flows, as well as other possible statements.

Statement of financial position

Statement of comprehensive income
Statement of changes in equity
Statement of cash flows

Statement of financial position: Statement of Financial Position, also known as the Balance
Sheet, presents the financial position of an entity at a given date. It is comprised of three main
components: assets, liabilities and owners equity.
Statement of comprehensive income: Comprehensive income is the change in equity (net
assets) of a business enterprise during a period from transactions and other events and
circumstances from non-owner sources. The statement of comprehensive income illustrates
the financial performance and results of operations of a particular company or entity for a
period of time.
Statement of changes in equity: A statement of changes in equity summarizes the
movement in the equity accounts during the year namely share capital, share premium,
retained earnings, revaluation surplus, unrealized gains on investments, etc. A statement of
changes in equity is an important component of financial statements since it explains the
composition of equity and how has it changed over the year.
Statement of cash flows: A cash flow statement, also known as statement of cash flows is a
financial statement that shows how changes in balance sheet accounts and income affect cash
and cash equivalents and breaks the analysis down to operating, investing, and financing
activities.

2.02: Components of Financial Statements

Financial statements describe the profitability and value of a business. Four components
make up a standard set of financial statements:

Balance sheet
Income statements
Statement of retained earnings
Statement of cash flow

Balance Sheet:
A financial statement that prepared a company's assets, liabilities and shareholders' equity for
the time period. The balance sheet is follows in this formula.
Assets = Liabilities + Shareholders' Equity
The standard company balance sheet has three parts: assets, liabilities and ownership equity.
The main categories of assets are usually listed first, and normally, in order of liquidity. On
the left side of a balance sheet, assets will typically be classified into current assets and noncurrent (long-term) assets.
Current Assets
A current asset on the balance sheet is an asset which can either be converted to cash in one
year or less. They can include cash, stocks and other liquid investment, short-term
government bonds or treasury bills, accounts receivable, inventory and expenses. For the
manufacturer clothing, inventory raw materials, work-in-progress and finished goods.
Accounts receivable, represents what your credit customers owe you if your firm extends
credit. In the deferred expense, the early payment is accompanied by a related, recognized
expense in the subsequent accounting period, and the same amount is deducted from the prepayment.
Non-current Assets
Long-term assets are ones the company will be hold for at least one year. For examples of
long-term assets are investments and property, plant, and equipment currently used?

Fixed assets: This category is the companys property, plant, and equipment. The
account includes long-term assets, such as a car, land, buildings, office equipment,
and computers.
Long-term investments: These investments are assets held by the company, such as
bonds, stocks, or notes.
Intangible assets: Identifiable long-term assets of a company having no physical
existence are called intangible assets. They include goodwill, patents, copyrights, etc.

Other Assets
The items included in the Other assets that can be classified of other assets. Some of the
items included are (long-term prepaid expenses), non-current receivables, assets in special
funds, deferred income taxes, property held for sale sufficiently different from assets included
in specific categories.
Current Liabilities
Current liabilities are the obligations that are reasonably expected to be liquidated either
through the use of current assets or current liabilities. Current liabilities include accounts
payable, wages payable, taxes payable, short-term loans and long-term debt that are due to
within one year.
Long-Term Liabilities
The long-term liabilities are obligations that are not reasonably expected to be liquidated that
are not due to at least one year. For example Bonds payable, notes payable are the long-term
liabilities.
Owners Equity
The owners equity (stockholders equity) is one of the most difficult sections to prepare and
understand. Component of include common stock, paid-in-capital, retained earnings and
capital stock.

Income Statements:
The income statement is called the statement of income or statement of earnings is the report
that measures to success of enterprise for a given period of time, such as one year. The
simplest equation to income is:
Net Income = Revenue-Expenses
Revenue refers to inflows of assets of entity settlements of its liabilities during a period of
producing goods, rendering services and other activities. Such as sales, fees, interest,
dividends and rents.
Income from other operations can be separated from income. The income can be described
by:
Net Income = Revenue Expenses + Gains - Losses
Net income from revenue, expense, capital gain, losses from natural disasters to refer to these
items. The income statement details income sources and expenses it can be show the net
income. For instance, most businesses will have salary and administration expense, utilities,
lease or mortgage expense and taxes. The net income, derived by subtracting total expenses
from total income.

Sales
A subsection presenting sales, discounts, allowances, returns and other related information to
arrive at the net amount of sales revenue.
Cost of Goods Sold
The cost of goods that were sold to produce the sales. The items should be including material
used, direct labor, utilities, equipment repairs etc.
Gross Profit
The gross profit is the total revenue subtracted by the cost of generating that revenue. Gross
profit to residual profit after selling a product or service and deducting the cost associated
with its production and sale. The gross profit on a product is computed as:
Sales - Cost of Goods Sold = Gross Profit
Operating Expenses
An operating expense, operating expenditure, operational expense, and operational
expenditure is an ongoing cost for running a product, business or system. This items are
include office salaries, insurance, advertising, sales commission and rent.
Depreciation
Depreciation is defined as the accounting process of allocating the cost of tangible assets to
expense in a systematic and rational manner to that period expected to benefit from the use of
the asset for useful life. Depreciation for accounting purposes refers the allocation of the cost
of assets to periods in which the assets are used. Depreciation expense affects the values of
businesses and entities because the accumulated depreciation disclosed for each asset will
reduce its book value on the balance sheet. Depreciation expense also affects net income.
Generally the cost is allocated as depreciation expense among the periods in which the asset
is expected to be used.
Operating Profit
The profit earned from a firm's normal course of operations. This value of computed by
operating expenses from gross profit.
Operating Profit = Operating Revenue - COGS - Operating Expenses - Depreciation &
Amortization
Net Profit before Taxes
A profitability measure that a company's profit before the company has to pay income tax.
This measure deducts all expenses from revenue including interest expenses and operating
expenses.

Income Tax
The total amount domestic and foreign federal, state and local tax based on income.
Net Profit after Tax
This is the 'bottom line' that you often Dividends are paid out of net profits after tax, and the
amount that isn't paid out is the retained profit the net profits of a company after tax.

Statement of Retained Earnings:

The statement of retained earnings shows the changes in retained earnings over the tracking
period. Why is the statement of retained earnings important? It is a measure of the assets of
operation that have been generated through profitable activity, retained in business and not
paid out to shareholders as dividends. Stakeholders (such as investors or potential investors)
in a company will be interested in reading this statement to better understand how their
dividends to compare reported profits. The following equation describes the statement for a
sole proprietorship:
Ending Equity = Beginning Equity + Investments Withdrawals + Income
The stockholders equity to calculate as follows:
Common Stock
+ Premium on Common Stock
+ Preferred Stock
+ Premium on Preferred Stock + Retaining Earnings
= Stockholders Equity

Statement of Cash Flow:

The statement of cash flows meets one of the objectives of financial reporting to help assess
the amounts, timing, and uncertainty of future cash flows. The cash flow statement shows the
cash flows that out of business. This is actual cash is not include credit, loans, payables or
receivables not yet received or paid out. Cash inflows list first followed by cash outflows.
The statement of cash flow includes the cash through a business during operating losses,
purchase of assets, or paying off of loans or interest. The statement of cash flow does not
contain new information in the financial statement it is derived from what is provided on the
balance sheet and income statement. This statement of cash flow informs investors and
creditors about the solvency of your business. Cash receipts and cash payments during a
period are classified in the statement of cash flows into three different activities. These are
defined as follows:
Operating activities
Investing activities
Financing activities
Operating activities: The operating activities are involve the cash effects of transactions that
the determination of net income.

Investing activities: They include making and collecting loans and acquiring and disposing
of investments (both debt and equity) and property, plant and equipment.
Financing activities: The financing activities are involved liability and owners equity. They
include obtaining resources from owners and providing them with a return on investment and
borrowing money from creditors and repaying the amounts borrowed.

2.03: IAS1 (International Accounting Standards):

The financial statements to ensure comparability both with the entitys financial statements of
previous periods and with the financial statements of other entities.
A complete set of financial statements comprises:
(a) A statement of financial position as at the end of the period.
(b) A statement of comprehensive income for the period.
(c) A statement of changes in equity for the period.
(d) A statement of cash flows for the period.
(e) Notes, comprising a summary of significant accounting policies and other explanatory
information.
An entity shall recognize all items of income and expense in a period in profit or loss
unless an IFRS requires or permits otherwise.
(a) Present information about the basis of preparation of the financial statements and the
specific accounting policies used in accordance.
(b) Disclose the information required by IFRSs that is not presented elsewhere in the
financial statements; and
(c) Provide information that is not presented elsewhere in the financial statements, but is
relevant to an understanding of any of them.

IAS 7(International Accounting Standards):

Cash flows are inflows and outflows of cash and cash equivalents. Cash comprises cash on
hand and demand deposits. Cash equivalents are short-term, highly liquid investments are
changes in value. The statement of cash flows shall report cash flows during the period
classified by operating, investing and financing activities.
Operating activities
Operating cash flows from operating activities are primarily derived from the principal
revenue-producing activities of the entity. Therefore, they generally result from the
transactions and other events that enter into the determination of profit or loss.
An entity shall report cash flows from operating activities using either:
(a) The direct method, whereby major classes of gross cash receipts and gross cash
payments are disclosed.
(b) The indirect method, whereby profit or loss is adjusted for the effects of transactions
of a non-cash nature, any deferrals or accruals of past or future operating cash receipts
or payments, and items of income or expense associated with investing or financing
cash flows.

10

Investing activities
Investing activities are the acquisition and disposal of long-term assets and other investments
not included in cash equivalents. The separate disclosure of cash flows arising from investing
activities to extent which expenditures have been made for resources intended to income and
cash flows.
Financing activities
Financing activities are activities that result in changes in the size and composition of the
contributed equity and borrowings of the entity. An entity shall report separately major
classes of gross cash receipts and gross cash payments arising from investing and financing
activities. Investing and financing transactions are not use of cash or cash equivalents shall be
excluded from a statement of cash flows.

IAS 8( International Accounting Standards):

The Standard is intended to enhance the relevance and reliability of an entitys financial
statements and the comparability of those financial statements over time and with the
financial statements of other entities.
In making the judgment management shall refer to, and consider the applicability of,
the following sources in descending order:
a) The requirements and guidance in IFRSs dealing with similar and related issues.
b) The definitions, recognition criteria and measurement concepts for assets, liabilities,
income and expenses in the Framework.
An entity shall selected to accounting policies consistently for similar transactions, other
events and conditions, unless an IFRS specifically requires or permits categorization of items
for which different policies may be appropriate. If an IFRS requires or permits such
categorization, an appropriate accounting policy shall be selected and applied consistently to
each category.
An entity shall change an accounting policy only if the change:
a) Is required by an IFRS.
b) Results in the financial statements providing reliable and more relevant information
about the effects of transactions, other events or conditions on the entitys financial
position, financial performance or cash flows.
The effect of a change in an accounting estimate shall be recognized prospectively by
including it in profit or loss in:
a) The period of the change, if the change affects that period only.
b) The period of the change and future periods, if the change affects both.
The entitys financial statements for one or more prior periods arising from a failure to
use, or misuse of, reliable information that:
a) Was available when financial statements for those periods were authorized for issue.
b) Could reasonably be expected to have been obtained and taken into account in the
preparation and presentation of those financial statements.

11

An entity shall correct material prior period errors retrospectively in the first set of
financial statements authorized for issue after their discovery by:
a) Restating the comparative amounts for the prior period(s) presented in which the error
occurred.
b) If the error occurred before the earliest prior period presented, restating the opening
balances of assets, liabilities and equity for the earliest prior period presented.

IAS 10 (International Accounting Standards):

The objective of this Standard is to prescribe:
(a) When an entity should adjust its financial statements for events after the reporting
period.
(b) The disclosures that an entity should give about the date when the financial statements
were authorized for issue and about events after the reporting period.
Events after the reporting period are those events, favorable and unfavorable, that occur
between the end of the reporting period and the date when the financial statements are
authorized for issue.
Two types of events can be identified:
(a) Those that provide evidence of conditions that existed at the end of the reporting
period (adjusting events after the reporting period).
(b) Those that is indicative of conditions that arose after the reporting period (nonadjusting events after the reporting period).
An entity shall not adjust the amounts recognized in its financial statements to reflect
non-adjusting events after the reporting period. If non-adjusting events after the
reporting period are material, non-disclosure could influence the economic decisions of
users taken on the basis of the financial statements. Accordingly, an entity shall disclose
the following for each material category of non-adjusting event after the reporting
period:
a) The nature of the event.
b) An estimate of its financial effect or a statement that such an estimate cannot be made.

IAS 16 (International Accounting Standards):

The principal issues in accounting for property, plant and equipment are the recognition of
the assets, the determination of their carrying amounts and the depreciation charges and
impairment losses to be recognized in relation to them.
Property, plant and equipment are tangible items that:
a) Are held for use in the production or supply of goods or services, for rental to others,
or for administrative purposes.
b) Are expected to be used during more than one period.

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The cost of an item of property, plant and equipment shall be recognized as an asset if,
and only if:
a) It is probable that future economic benefits associated with the item will flow to the
entity.
b) The cost of the item can be measured reliably.
An item of property, plant and equipment that qualifies for recognition as an asset shall be
measured at its cost. The cost of an item of property, plant and equipment is the cash price
equivalent at the recognition date.
The cost of an item of property, plant and equipment comprises:
a) Its purchase price, including import duties and non-refundable purchase taxes, after
deducting trade discounts and rebates.
b) Any costs directly attributable to bringing the asset to the location and condition
necessary for it to be capable of operating in the manner intended by management.
c) The initial estimate of the costs of dismantling and removing the item and restoring
the site on which it is located, the obligation for which an entity incurs either when
the item is acquired or as a consequence of having used the item during a particular
period for purposes other than to produce inventories during that period.
Measurement after recognition: An entity shall choose either the cost model or the
revaluation model as its accounting policy and shall apply that policy to an entire class of
property, plant and equipment.
Cost model: In cost model the fixed assets are carried at their historical cost less
accumulated depreciation and accumulated impairment losses.
Revaluation model: Revaluation of fixed assets is the process of increasing or decreasing
their carrying value in case of major changes in fair market value of the fixed asset.
Depreciation: Depreciation is the allocation to depreciable amount of an asset over its useful
life. Depreciable amount is the cost of an asset, or other amount substituted for cost, less its
residual value. An item of property, plant and equipment with a cost that is significant in
relation to the total cost of the item shall be recognized in profit or loss unless it is included in
the carrying amount of another asset.
Residual value: The residual value of an asset is the estimated amount that an entity would
currently obtain from disposal of the asset, after deducting the estimated costs of disposal in
the condition expected to useful life.
The carrying amount of an item of property, plant and equipment shall be
derecognized:
a) On disposal.
b) When no future economic benefits are expected from its use or disposal.

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2.04: BAS (Bangladesh Accounting Standards):

These financial statements to ensure comparability both with the entitys financial statements
of previous periods and with the financial statements of other entities. It sets out overall
requirements for the presentation of financial statements, guidelines for their structure and
minimum requirements for their content.
Complete set of financial statements a complete set of financial statements comprises:
a)
b)
c)
d)
e)

A statement of financial position as at the end of the period.

A statement of comprehensive income for the period;
A statement of changes in equity for the period;
A statement of cash flows for the period;
Notes, comprising a summary of significant accounting policies and other explanatory
information;
f) A statement of financial position as at the beginning of the earliest comparative period
when an entity applies an accounting policy retrospectively or makes a retrospective
restatement of items in its financial statements, or when it reclassifies items in its
financial statements.
An entity shall clearly identify each financial statement and the notes. In addition, an
entity shall display the following information prominently, and repeat it when necessary
for the information presented to be understandable:
a) The name of the reporting entity or other means of identification, and any change in
that information from the end of the preceding reporting period;
b) Whether the financial statements are of an individual entity or a group of entities;
c) The date of the end of the reporting period or the period covered by the set of
financial statements or notes;
d) The level of rounding used in presenting amounts in the financial statements.
The statement of financial position shall include line items that present the following
amounts:
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)

Property, plant and equipment;

Investment property;
Intangible assets;
Financial assets;
Investments accounted for using the equity method;
Biological assets;
Inventories;
Trade and other receivables;
Cash and cash equivalents;
The total of assets classified as held for sale and assets included in disposal groups
classified as held for sale in accordance with BFRS-5 Non-current Assets Held for
Sale and Discontinued Operations;

14

k)
l)
m)
n)
o)
p)

Trade and other payables;

Provisions;
Financial liabilities;
Liabilities and assets for current tax, as defined in BAS-12 Income Taxes;
Deferred tax liabilities and deferred tax assets, as defined in BAS-12;
Liabilities included in disposal groups classified as held for sale in accordance with
BFRS 5;
q) Non-controlling interests, presented within equity;
r) Issued capital and reserves attributable to owners of the parent.
An entity shall disclose the following items in the statement of comprehensive income as
allocations of profit or loss for the period:
a) Profit or loss for the period attributable to:
i.
Non-controlling interests,
ii.
Owners of the parent.
b) Total comprehensive income for the period attributable to:
i.
Non-controlling interests,
ii.
Owners of the parent.
When items of income or expense are material, an entity shall disclose their nature and
amount separately.
Items of income or expense are shown separately both in the statements and notes.
Circumstances that would give rise to the separate disclosure of items of income and
expense include:
a) Write downs of inventories to net realizable value or of property, plant and
equipment to recoverable amount, as well as reversals of such write-downs;
b) Restructuring of the activities of an entity and reversals of any provisions for the
costs of restructuring;
c) Disposals of items of property, plant and equipment;
d) Disposals of investments;
e) Discontinued operations;
f) Litigation settlements and
g) Other reversals provisions.
An entity shall present a statement of change in equity showing in the statement:
a) Total comprehensive income for the period, showing separately the total amounts
attributable to owners of the parent and to non-controlling interests;
b) For each component of equity, the effect of retrospective application or retrospective
restatement recognized in accordance with BAS-8;
c) For each component of equity, a reconciliation between the carrying amount at the
beginning and the end of the period, separately disclosing changes resulting form;
i.
Profit of loss;
ii.
Each item of other comprehensive income; and

15

An entity shall disclose in the summary of significant accounting policies:

a) The measurement basis used in preparing the financial statement, and
b) The other accounting policies used that are relevant to an understanding of the
financial statements.

2.05: IFRS 1 (International Financial Reporting Standards):

The IFRS is to ensure that an entitys of financial statements, and its interim financial reports
for part of the period covered by financial statements, contain high quality information that:
a) Is transparent for users and comparable over all periods presented;
b) Provides a suitable starting point for accounting in accordance with International
Financial Reporting Standards (IFRSs); and
c) Can be generated at a cost that does not exceed the benefits.
An entity shall use the same accounting policies in its opening IFRS statement of financial
position and throughout all periods presented in its first IFRS financial statements. In general,
the IFRS requires an entity to do the following in the opening IFRS statement of financial
position that it prepares as a starting point for its accounting under IFRSs:
a) Recognize all assets and liabilities whose recognition is required by IFRSs;
b) Not recognize items as assets or liabilities if IFRSs do not permit such recognition;
c) Reclassify items that it recognized in accordance with previous GAAP as one type of
asset, liability or component of equity, but are a different type of asset, liability or
component of equity in accordance with IFRSs; and
d) Apply IFRSs in measuring all recognized assets and liabilities.

IFRS 2 (International Financial Reporting Standards):

The IFRS is to specify the financial reporting by an entity when it undertakes a share-based
payment transaction. It requires an entity to reflect in its profit or loss and financial position
the effects of share-based payment transactions, including expenses associated with
transactions in which share options are granted to employees.
The IFRS sets out measurement principles and specific requirements for three types of
share-based payment transactions:
a) Equity-settled share-based payment transactions, in which the entity receives goods or
services as consideration for equity instruments of the entity.
b) cash-settled share-based payment transactions, in which the entity acquires goods or
services by incurring liabilities to the supplier of those goods or services for amounts
that are based on the price of the entitys shares or other equity instruments of the
entity; and
c) Transactions in which the entity receives or acquires goods or services and the terms
of the arrangement provide either the entity or the supplier of those goods or services
with a choice of whether the entity settles the transaction in cash or by issuing equity
instruments.

16

The IFRS prescribes various disclosure requirements to enable users of financial

statements to understand:
a) The nature and extent of share-based payment arrangements that existed during the
period;
b) How the fair value of the goods or services received, or the fair value of the equity
instruments granted, during the period was determined; and
c) The effect of share-based payment transactions on the entitys profit or loss for the
period and on its financial position.

IFRS 3 (International Financial Reporting Standards):

The IFRS is to enhance the relevance, reliability and comparability of the information that a
reporting entity provides in its financial statements about a business combination and its
effects.
a) Recognizes and measures in its financial statements the identifiable assets acquired,
the liabilities assumed and any non-controlling interest in the acquire;
b) Recognizes and measures the goodwill acquired in the business combination or a gain
from a bargain purchase; and
c) Determines what information to disclose to enable users of the financial statements to
evaluate the nature and financial effects of the business combination.
The IFRS provides limited exceptions to these recognition and measurement principles:
a) Leases and insurance contracts are required to be classified on the basis of the
contractual terms and other factors at the inception of the contract rather than on the
basis of the factors that exist at the acquisition date.
b) Only those contingent liabilities assumed in a business combination that are a present
obligation and can be measured reliably are recognized.
c) Some assets and liabilities are required to be recognized or measured in accordance
with other IFRSs, rather than at fair value.
d) There are special requirements for measuring a reacquired right.
e) Indemnification assets are recognized and measured on a basis that is consistent with
the item that is subject to the indemnification, even if that measure is not fair value.
The IFRS requires the acquirer, having recognized the identifiable assets, the liabilities
and any non-controlling interests, to identify any difference between:
a) The aggregate of the consideration transferred, any non-controlling interest in the
acquire and, in a business combination achieved in stages, the acquisition-date fair
value of the acquirers previously held equity interest in the acquire; and
b) The net identifiable assets acquired.

17

IFRS 4(International Financial Reporting Standards):

This IFRS is to specify the financial reporting for insurance contracts by any entity that issues
such contracts until the Board completes the second phase of its project on insurance
contracts. In particular, this IFRS requires:
a) Limited improvements to accounting by insurers for insurance contracts.
b) Disclosure that identifies and explains the amounts in an insurers financial statements
arising from insurance contracts and helps users of those financial statements
understand the amount, timing and uncertainty of future cash flows from insurance
contracts.

The IFRS exempts an insurer temporarily from some requirements of other IFRSs,
including the requirement to consider the Framework in selecting accounting policies
for insurance contracts. However, the IFRS:
a) Prohibits provisions for possible claims under contracts that are not in existence at the
end of the reporting period (such as catastrophe and equalization provisions).
b) Requires a test for the adequacy of recognized insurance liabilities and an impairment
test for reinsurance assets.
c) Requires an insurer to keep insurance liabilities in its statement of financial position
until they are discharged or cancelled, or expire, and to present insurance liabilities
without offsetting them against related reinsurance assets.
In particular, an insurer cannot introduce any of the following practices, although it
may continue using accounting policies that involve them:
a) Measuring insurance liabilities on an undiscounted basis.
b) Measuring contractual rights to future investment management fees at an amount that
exceeds their fair value as implied by a comparison with current fees charged by other
market participants for similar services.
c) Using non-uniform accounting policies for the insurance liabilities of subsidiaries.
The IFRS requires disclosure to help users understand:
a) The amounts in the insurers financial statements that arise from insurance contracts.
b) The nature and extent of risks arising from insurance contracts.

18

IFRS 5 (International Financial Reporting Standards):

The objective of this IFRS is to specify the accounting for assets held for sale, and the
presentation and disclosure of discontinued operations. In particular, the IFRS
requires:
a) Assets that meet the criteria to be classified as held for sale to be measured at the
lower of carrying amount and fair value less costs to sell, and depreciation on such
assets to cease;
b) An asset classified as held for sale and the assets and liabilities included within a
disposal group classified as held for sale to be presented separately in the statement of
financial position; and
c) The results of discontinued operations to be presented separately in the statement of
comprehensive income.
d) Adopts the classification held for sale.
e) Introduces the concept of a disposal group, being a group of assets to be disposed of,
by sale or otherwise, together as a group in a single transaction, and liabilities directly
associated with those assets that will be transferred in the transaction.
f) Classifies an operation as discontinued at the date the operation meets the criteria to
be classified as held for sale or when the entity has disposed of the operation.
A discontinued operation is a component of an entity that either has been disposed of,
or is classified as held for sale:
a) Represents a separate major line of business or geographical area of operations,
b) Is part of a single co-ordinate plan to dispose of a separate major line of business or
geographical area of operations or
c) Is a subsidiary acquired exclusively with a view to resale?

IFRS 6(International Financial Reporting Standards):

Exploration and evaluation assets are exploration and evaluation expenditures
recognized as assets in accordance with the entitys accounting policy. The IFRS:
a) Permits an entity to develop an accounting policy for exploration and evaluation
assets without specifically considering the requirements (IAS-8). Thus, an entity
adopting IFRS 6 may continue to use the accounting policies applied immediately
before adopting the IFRS. This includes continuing to use recognition and
measurement practices that are part of those accounting policies.
b) Requires entities recognizing exploration and evaluation assets to perform an
impairment test on those assets when facts and circumstances suggest that the
carrying amount of the assets may exceed their recoverable amount.
c) Varies the recognition of impairment from that in IAS-36 but measures the
impairment in accordance with that Standard once the impairment is identified.

19

The following facts and circumstances indicate that an entity should test exploration
and evaluation assets for impairment (the list is not exhaustive):
a) The period for which the entity has the right to explore in the specific area has expired
during the period or will expire in the near future, and is not expected to be renewed.
b) Substantive expenditure on further exploration for and evaluation of mineral resources
in the specific area is neither budgeted nor planned.
c) Exploration for and evaluation of mineral resources in the specific area have not led to
the discovery of commercially viable quantities of mineral resources and the entity
has decided to discontinue such activities in the specific area.
d) Sufficient data exist to indicate that, although a development in the specific area is
likely to proceed, the carrying amount of the exploration and evaluation asset is
unlikely to be recovered in full from successful development or by sale.

IFRS 7(International Financial Reporting Standards):

The objective of this IFRS is to require entities to provide disclosures in their financial
statements that enable users to evaluate:
a) The significance of financial instruments for the entitys financial position and
performance; and
b) The nature and extent of risks arising from financial instruments to which the entity is
exposed during the period and at the end of the reporting period, and how the entity
manages those risks.

IFRS 8(International Financial Reporting Standards):

An entity shall disclose information to enable users of its financial statements to evaluate the
nature and financial effects of the business activities in which it engages and the economic
environments in which it operates. This IFRS shall apply to:
a) The separate or individual financial statements of an entity:
i.
Whose debt or equity instruments are traded in a public market (a domestic or
foreign stock exchange or an over-the-counter market, including local and
regional markets), or
ii.
That files, or is in the process of filing, its financial statements with a
securities commission or other regulatory organization for the purpose of
issuing any class of instruments in a public market; and
b) The consolidated financial statements of a group with a parent:
i.
Whose debt or equity instruments are traded in a public market (a domestic or
foreign stock exchange or an over-the-counter market, including local and
regional markets), or
ii.
That files, or is in the process of filing, the consolidated financial statements
with a securities commission or other regulatory organization for the purpose
of issuing any class of instruments in a public market.

20

Chapter: 03
Practical Issues

21

3.01: Sample Enterprise at a Glance

Dutch-Bangla Bank Limited
Dutch-Bangla Bank Limited is a scheduled joint venture commercial bank between local
Bangladeshi parties spearheaded by M Sahabuddin Ahmed (Founder & Chairman) and the
Dutch company FMO. DBBL was established under the Bank Companies Act 1991 and
incorporated as a public limited company under the Companies Act 1994 in Bangladesh with
the primary objective to carry on all kinds of banking business in Bangladesh. The Bank is
listed with the Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited.
DBBL commenced formal operation from June 3, 1996. The head office of the Bank is
located at Sena Kalyan Bhaban (4th floor), 195, Motijheel C/A, Dhaka, Bangladesh. The
Bank commenced its banking business with one branch on 4 July 1996.
The bank is often colloquially referred to as "DBBL", "Dutch Bangla" and "Dutch Bangla
Bank. After instability and frequent management changes in its initial years, DBBL
overcame these obstacles to establish itself as a market leader. It has grown its reputation
through social work rather than profits. The bank's conservative nature, long-term strategies,
hefty social donations and technology investments have always led to modest but steady
profits. Due to investor confidence, DBBL share prices have steadily climbed in value. In
January 2008, DBBL share prices reached Tk. 9,450 .00 in the Dhaka Stock Exchange,
setting the record for the highest stock price in the history of Bangladesh. It is also one of the
few banks that do not participate in merchant banking (which can lead to sporadic growth).
DBBL has branded itself as a trusted bank through its banking practices and social
commitments.
Dutch Bangla Bank is the first and only local bank in Bangladesh to have an automated
banking system. The bank has spent over Tk. 1 Billion in automation upgrades (first bank in
Bangladesh to do so). This automation took place in 2003 whereby services of the bank were
available uniformly though any branch, ATM and internet. Banking was a paper based until
DBBL, with its wide local network, delivered banking automation and modern banking
services to the masses. This effectively introduced the 'plastic money' concept into the
Bangladeshi society.

22

3.02: Analysis of Findings

The formats of Balance Sheet, Profit and Loss Account, Cash Flow Statement and
Value Added Statement applied by banks are given below:

23

Profit And Loss Account Format

For the year ended **********
Note

Taka

Taka

Interest income
Interest paid on deposits and borrowings etc.
Net interest income
Investment income
Commission, exchange and brokerage
Other operating income
Total operating income
Salary and allowances
Rent, taxes, insurance, electricity, etc.
Legal expenses
Postage, stamp, telecommunications, etc.
Stationery, printings, advertisements, etc.
Managing Directors salary and allowances
Directors fees
Auditors fees
Charges on loan losses
Depreciation and repair of banks assets
Other expenses
Total operating expenses
Profit before provision
Provision for loans and off-balance sheet exposures
Specific provision for loans
General provision for loans
General provision for off-balance sheet exposures

*
*

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Other provision
Total provision

Contribution to Dutch-Bangla Bank Foundation

Profit before taxes
Provision for taxation
Current tax
Deferred tax

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*
*
*
*

Net profit after taxation

Retained earnings brought forward from previous years
Appropriations
Statutory reserve
Dividend equalization account
Proposed dividend
Cash dividend(Bonus share @ 33.33% i.e. 1 share for
3shares of Taka 100 each)

*
*

Retained earnings carried forward

Earnings per share (EPS)

24

Balance Sheet Format

For the year ended **********
Note

2009
Taka

2008
Taka

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Property And Assets

Cash
In hand (including foreign currencies)
Balance with Bangladesh Bank and its agent bank (s)
(including foreign currencies)

Balance with other banks and financial institutions

In Bangladesh
Outside Bangladesh

Money at call and short notice

Investments
Government
Others
Loans and advances
Loans, cash credits, overdrafts, etc.
Bills purchased and discounted
Lease receivables

*
*

Fixed assets including land, building, furniture and fixtures

*
*

Other assets
Non-banking assets
TOTAL ASSETS
Liabilities And Capital
Liabilities
Borrowings from other banks, financial institutions and
agents
Deposits and other accounts

*
*

Current deposits and other accounts

Bills payable
Savings bank deposits
Term deposits
Other liabilities
Subordinated debt
TOTAL LIABILITIES

*
*

25

Balance Sheet Format

For the year ended **********
Shareholders equity
Paid up share capital
Share premium
Statutory reserve
Other reserve
Dividend equalization account
Assets revaluation reserve
Revaluation reserve of HTM securities
Proposed bonus share (@33.33% i.e.1share for 3 share
of Taka 100 each).
Retained earnings
TOTAL SHAREHOLDERS EQUITY
TOTAL LIABILITIES AND SHAREHOLDERS
EQUITY

Note

2009
Taka

2008
Taka

*
*
*
*
*
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OFF-BALANCE SHEET ITEMS
Contingent liabilities
Acceptances and endorsements
Letters of guarantee
Irrevocable letters of credit
Bills for collection
Other contingent liabilities
Total contingent liabilities
Other commitments
Documentary credits and short term trade-related
transactions
Forward assets purchased and forward deposits placed
Undrawn note issuance and revolving underwriting
facilities
Undrawn formal standby facilities, credit lines and other
Commitments
Total other commitments
Total off-balance sheet items including contingent
liabilities

26

Cash Flow Statement Format

For the year ended **********
Note
A) Cash flows from operating activities
Interest receipts in cash
Interest payments
Dividend receipts in cash
Gain on sale of shares
Gain on sale of securities
Recoveries of loan previously written-off
Fee and commission receipts in cash
Cash payments to employees
Cash payments to supplies
Income taxes paid
Receipts from other operating activities
Payments for other operating activities
Operating profit before changes in operating assets
and liabilities
Increase/(decrease) in operating assets and liabilities
Statutory deposits
Purchase/sale of trading securities
Loans and advances to other banks
Loans and advances to customers
Other assets
Deposits from other banks
Deposits from customers
Other liabilities account of customers
Other liabilities
Net cash from operating activities
B) Cash flows from investing activities
Payments for purchase of securities
Proceeds from sale of securities
Purchase of property, plant and equipment
Sale proceeds of property, plant and equipment
Net cash used in investing activities
C) Cash flows from financing activities
Receipts from issue of loan capital and debt securities
Dividends paid
Net cash from financing activities
D) Net increase/(decrease) in cash (A+B+C)
E) Cash and cash-equivalents at beginning of year
F) Cash and cash-equivalents at end of year
(D+E)

27

*
*

2009
Taka

2008
Taka

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Value Added Statement Format

For the year ended **********
2009
Particulars
Income from banking services
Less: Cost of services and supplies
Provision for deferred tax
Loan loss provision and other
provisions
Total value added
Distribution of added value
To Employees as salaries and
allowances
To Government as income tax
To Dutch-Bangla Bank Foundation
To Statutory reserve
To Depreciation
To Shareholders
As Cash dividend
As Bonus shares
As Retained earnings

Amount in
Taka

2008
Percen
tage
(%)

Amount in
Taka

8,914,282,919
4,916,606,011
3,997,676,908
125,054,910
(427,953,563)

7,275,753,715
4,414,856,736
2,860,896,979
(40,680,418)
(66,315,248)

3,694,778,255

2,753,901,313

995,921,605
1,141,735,364
113,388,343
802,475,120
306,034,886
335,222,937
-------500,000,000
(164,777,063)
3,694,778,255

28

27%
31%
3%
22%
8%
9%

100%

708,937,053
913,733,473
93,477,839
355,215,788
216,087,899
466,449,261
-------500,000,000
(33,550,739)
2,753,901,313

Percen
tage
(%)

26%
33%
3%
13%
8%
17%

100%

Value Added Statement 2009

To Employees as salaries and
allowances
9%

8%

To Government as income tax

27%

To Dutch-Bangla Bank
Foundation

22%

To statutory reserve
31%
To depreciation

3%
To shareholders

Valu Added Statement 2008

To Employees as salaries and
allownaces
17%

To Government as incomen tax

26%

8%
To Dutch-Bangla Bank
Foundation

13%

To statutory reserve

33%

To depreciation
3%

To shareholders

29

Compliance report on Bangladesh Accounting Standards (BAS):

Bangladesh Accounting Standards (BAS)

Presentation of Financial Statements
Inventories
Cash Flow Statements
Accounting Polices, Changes in Accounting Estimates and
Errors
Events After the Balance Sheet Dates
Construction Contracts
Income Taxes
Segment Reporting
Property, Plant and Equipment
Leases
Revenue
Employee Benefits
Accounting for Government Grants and Disclosure of
Government Assistance
The Effects of Changes in Foreign Exchange Rates
Borrowing Costs
Related Party Disclosures
Accounting and Reporting by Retirement Benefit Plans
Consolidated Financial Statements and Accounting for
Investments in Subsidiaries
Accounting for Investments in Associates
Disclosures in the Financial Statements of Banks and Similar
Financial Institutions
Financial Reporting of Interests in Joint Ventures
Financial Instruments: Presentation
Earnings Per Share
Interim Financial Reporting
Impairment of Assets
Provisions, Contingent Liabilities and Contingent Assets
Intangible Assets
Financial Instruments: Recognition and Measurement
Investment Property
Agriculture

30

BAS-1
BAS-2
BAS-7

Status of
compliance
by DBBL
Complied
Complied
Complied

BAS-8

Complied

BAS-10
BAS-11
BAS-12
BAS-14
BAS-16
BAS-17
BAS-18
BAS-19

Complied
Not applicable
Complied
Not applicable
Complied
Complied
Complied
Complied

BAS-20

Not applicable

BAS-21
BAS-23
BAS-24
BAS-26

Complied
Complied
Complied
Complied

BAS-27

Not applicable

BAS-28

Not applicable

BAS-30

Complied

BAS-31
BAS-32
BAS-33
BAS-34
BAS-36
BAS-37
BAS-38
BAS-39
BAS-40
BAS-41

Not applicable
Not applicable
Complied
Complied
Complied
Complied
Not applicable
Not applicable
Not applicable
Not applicable

BAS
Number

3.03: BFRS (Bangladesh Financial Reporting Statements):

Compliance report on Bangladesh Financial Reporting Standards (BFRS)
Status of
Bangladesh Financial Reporting Standards
BFRS
compliance of
(BFRS)
Number
DBBL
First-time Adoption of Bangladesh Financial
BFRS-1
Complied
Reporting Standards
Share-based Payment
BFRS-2
Not applicable
Business Combinations

BFRS-3

Not applicable

Insurance Contracts
Non-current Assets Held for Sale and
Discontinued Operations
Exploration for and Evaluation of Mineral
Resources

BFRS-4

Not applicable

BFRS-5

Not applicable

BFRS-6

Not applicable

Financial Instruments: Disclosures

BFRS-7

Not applicable

Operating Segments

BFRS-8

Not applicable

3.04: Dutch-Bangla Bank Limited Performance Evaluation

Ratio Analysis
Gross Profit Ratio
Net Profit Ratio
Operating Ratio
Earnings Per Share
Current Ratio
Fixed Assets Ratio
Debt to Equity Ratio

Year
2008
2.00
1.06
0.98
54.78
0.13
1.36
18.16

Year
2009
2.33
1.30
1.04
75.85
0.21
1.16
17.23

31

Year
2010
1.92
1.13
1.00
10.01
0.15
1.27
13.45

Year
2011
1.83
0.96
0.92
10.77
0.20
1.24
12.79

Year
2012
1.61
0.74
0.69
11.57
0.22
1.50
13.36

Average
2%
1%
1%
33%
0.18%
1%
15%

3.05: SWOT Analysis

SWOT analysis is the detailed study of an organizations exposure and potential in
perspective of its strength, weakness, opportunity and threat.
Strengths:
DBBL Limited has established a favorable reputation in the banking sectors of the
commercial banks in Bangladesh.
DBBL has provided its banking service with a top leadership and management
position.
DBBL Limited has achieved a high growth rate accompanied by an impressive profit
growth rate. The number of deposits, loans and advances are also increasing rapidly.
DBBL has an interactive corporate culture.
DBBL has the reputation of being the provider of good quality services to its potential
customers.
Weakness:
The main important thing is that the bank has no clear mission statement and strategic
plan. There are no long-term strategies retail banking become a corporate bank.
Lack of motivation exists in persons filling those positions to having a group of
unsatisfied employees.
In terms of promotional sector and more emphasize to follow aggressive marketing
campaign.
Opportunity:
It is to reduce the business risk.
DBBL has to expand their business portfolio.
The management can consider options of starting merchant banking or diversify into
leasing and insurance sector.
Financial market has direct impact on primary market and investing in the secondary
market.
Different types of retail lending products have great appeal class to wide variety of
retail lending large products pregnable market.
The DBBL has more SME facility.
Threats:
Competition of the market place.
Additional political instability.
The low compensation position from mid-level to lower level.

32

Chapter: 04
Concluding Notes

33

4.01: Summarized Picture

The modern economic era to develop in industrial and commercial sector without a banking
system it is to quite impossible. This report prepared to Financial Reporting Practices Of
Dutch-Bangla Bank Limited. Dutch-Bangla Bank is the second generation commercial
private Bank. Dutch Bangla Bank is the first and only local bank in Bangladesh to have an
automated banking system. This automation took place in 2003 whereby services of the bank
were available uniformly though any branch, ATM and internet. Dutch-Bangla Bank Limited
is a well prepared to and capable of meeting the demand for a broad range of banking
services .It has got adequate resources, both human and physical, to provide the customers
with the best possible services. All the branches are fully operational computer network
which is currently being implemented. In our country there are lots of organizations
performed in the field of social activities and by increased their profit earnings ratio, among
them the Dutch-Bangla Bank is best performing in this field. We have taken some data as like
profit earnings ratio from 2008 20012, net profit data from 2008 20012, dividend per
share and expenditure of Dutch-Bangla Bank Limited, which is expensed for the corporate
social responsibility. Here, we need to assign some numerals values that we discussed in our
limitations.

4.02: Recommendations

The bank needs to clear their mission with appropriate objectives that will show a
different corporate image compare to other bank.
Have to make a new & competitive strategy that will be used for future growth of the
bank.
Must be focus on employees satisfaction like compensation, increment or bonus offer
that will motivate them to handle the customers with great care.
In the competitive market place the bank needs innovative products that will help to
compete in the market place.
To understand the customer about value offering the bank needs to do aggressive
campaign that helps to show the banks performance as well as the advantages which
DBBL wants to give the customer.

4.03: Conclusion
Dutch Bangla Bank (DBBL) is one of the leading banks in the banking sector of Bangladesh.
Through different offers it has been reached in the customer mind. It is bearing a great
reputation as service provider of potential customer. To maintain this culture the bank needs
different strategies in the competitive field because every moment they feel risk to loss their
position in the banking sector. But overall performance of this bank is good & to reach in
number one position it is works hard internally as well as externally it fulfills the customer
need.

34

Bibliography

Annual Report of DBBL Limited (2008, 2009, 2010, 2011, 2012)

International Financial Reporting Standard (IFRS)-1, 2, 3, 4, 5, 6, 7, 8.
Bangladesh Financial Reporting Standard for annual report for DBBL Limited.
International Accounting Standard (IAS)-1, 7, 8, 10, 16.
http://en.wikipedia.org/wiki/Financial_statement
http://www.marsdd.com/articles/financial-statements-the-four-components/
http://en.wikipedia.org/wiki/Income_statement
http://en.wikipedia.org/wiki/Balance_sheet
http://en.wikipedia.org/wiki/Cash_flow_statement
http://en.wikipedia.org/wiki/Statement_of_retained_earnings
http://www.scribd.com/doc/77805921/Bangladesh-Accounting-Standard-BAS-1
http://en.wikipedia.org/wiki/Dutch_Bangla_Bank
http://bcs.wiley.com/hebcs/Books?action=index&itemId=0471072087&itemTypeId=
BKS&bcsId=1467

35