Question

Prospect of accounting profession in Bangladesh(Minimum 1500 words)

Answer 1

Prospects Of Accounting Profession In Bangladesh:

Only the Chartered Accountants can control the matters related to commerce and trade. So there is an increasing demand of Chartered Accountants worldwide. And that is why the Chartered Accountancy is best among all other professions.
On November 11, 2019, a seminar titled “Prospects of Accounting Career in the 21st Century” was held the principal motive of arranging that program was to get the students acquainted with the corporate world, and to enable them in developing a connection between academic and corporate world as well.Mr. Md. Arifur Rahman, Senior Manager of Accounts & Financial Reporting, Bangladesh Express Company Ltd. discussed about the responsibilities & major functions of accountants in profit making concerns in that event .Besides this, he focused on opportunities & challenges of accountants in this complex business world, and required qualities for accounting profession as well.
Accounting and finance are the most prestigious major subject considered in Bangladesh. Why we think like that? Because in the previous years the most respected jobs for the business graduates specially desk jobs are working in the Banks, Non-bank financial institutions, MNCs and of course the local companies. And most of them were just accounting or finance graduate. They didn’t feel to get professional degree along with the Bachelor and Masters degrees. Companies were also dependent on the employees with the Bachelor and Masterst. A few of them were Chartered Accountant. In recent years, the scenario has changed a lot because the accounting and finance department of the companies has been modernized with technological advancement. The software’s are doing most of tasks that were done by the employees in a years back.
Right now in Bangladesh, Fresh graduates are disappointed about this thing. Who are wanted to build his or her career in Accounting/Finance they must have a professional degree. Achieving this degree we would pass 3-3.5 years for an article- ship to be a chartered accountant. In CC level they have many job responsibilities but their (CC level student) payroll system is very poor. That's why graduates students are demotivated to build their career as a CA. But industry eagerly needs such degree in Bangladesh. So this is high time to take necessary step to solve this problem.
Work experience required for finance and accounting jobs in Bangladesh is at least 2-3 years. For higher posts substantial experience is required. Some companies even demand up to 10 -12 years of experience.
There are more scope of Accounting in Bangladesh but still there need of some improvement in the Professional structure of Account. Some liberal policies requaired to make Accounting Profession more Demanding.