Accounting Practices in Alltex Industries Limited, Bangladesh

3919 WordsMay 4, 200916 Pages
1.0Introduction Following correct Accounting procedure is an important factor for the success of an organization, specially in today’s competitive business environment the theoretical part of Accounting was taught elaborately by the instructor. The practical implementation of theory is also important. Alltex Industries Limited has expanded in last few years. To acquire particular knowledge and to supplement our theoretical study, this was included in course curriculum to orient with the present business world. It was an opportunity for us to compare the theory in the context of practical business environment. This report present the existing Accounting practices in Alltex Industries Limited. Efforts were invested to explain the merits,…show more content…
The converted into a public limited company on October 25, 1994. The company was listed in Dhaka Stock Exchange Limited (DSE) on 31 August 1996 and Chittagong Stock Exchange Ltd. (CSE) on 07 August 1996. The share were quoted at taka 63.83 per share (2006: taka 55.67) in DSE and taka 65.00 per share (2006: taka 54.00 in CSE on the balance sheet date. However, the breakup value of share on balance sheet date was taka 146.31(2006:taka146.63) The registered head office of the company is located at 139(3rd floor), Motijheel C/A, Dhaka and factory at Ariabo, Rupgong, Narayongonj. 2.1.1 Nature of the business The company is hundred percent export oriented industry of Dying, Finishing and Printing Grey, Fabrics towards making of Home textile products for export. Compliance of local law The accounts have been prepare in compliance with requirements of the Bangladesh accounting standard (BAS), companies act 1994 and securities and exchange 1987, listing rule of Dhaka stock exchange limited and Chittagong stock exchange limited, income tax ordinance 1984 and applicable local laws and regulations. Reporting currency and level of precision The financial statement is presented in Bangladesh currency (Taka), which has been rounded off to the nearest taka except where indicated otherwise. 3.0 Theoretical Part Related to the Type of

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