Letter of Transmittal
March 15, 2015
Bachelor of Business Administration
East West University
Subject: Submission of the thesis report on “compliance of international accounting standards in
accounting practice of pharmaceutical industry firms —a case of Bangladesh”
I am here to inform you that I have accomplished the project paper on the topic that was assigned
by you at the beginning of this semester. It is my great pleaser to inform you that this is one of
the best topic that I have not dealt with ever before and most knowledgeable to me. When I try
to start the work on this topic with a bare mind; I was too much pessimistic about my confidence
to deal with this topic. But later I got it too interesting and challenging; when I start extensive
reading and analyzing and consulting with you recurrently. There are some terms and stage;
whereby I got stuck or felt vague; had been resolve by me with your best collaboration. I had
learned more about BAS, IAS, and their application through a practical way by analyzing their
applications in pharmaceutical industry. I owe to you for your greater assistance throughout the
development of the project paper. Although I was vigil in case of removing all mistakes,
obstacles and vagueness; there are some drawback still exist in my work. So I think you consider
those limitations insignificantly and help me to improve those limitations. If any further
information or amendment is required then you will get me ready in providing the missing
information instantly and making correction; if necessary.
I therefore want to express gratitude for your all invaluable supports, time, care, opinion and
suggestion that you had given to me for successfully completing my thesis report.
S.M Shaharia Mojumder
Department of BBA
East West University
For a student of BBA department it will be tuff to deal with the high profile topic for the first
time without any assistance form experienced personnel suggestions, opinion and guideline.
While conducting my study on the topic “International Accounting Standard Compliance in
Accounting Practice of Pharmaceutical Industry Firms” I got full support about direction,
opinion, and instruction from my honorable instructor “Md Rashidul Islam”. Just giving tanks is
not enough for the contribution of him in my efforts in preparation of this thesis report.
I need to show my gratitude to my brothers Certified Accountants-- “Md Rayhan , Md Jwel and
Mustofa Safayet”-- for helping me by supplies IAS and BAS related materials which help me a
great in developing notion and basic ideas ; which are prerequisite for the study.
I went to DSE office for accumulating data related to stock exchange enlisted pharmaceutical
industries. DES officials respond favorably and help me in searching annual reports of some
pharmaceutical firms. I should say thanks to them for their helps and friendly responses.
Our EWU library is enriched with numerous invaluable accounting book, magazine and
literature. EWU library give me a good stream of knowledge in primary stage of developing
I don’t get all annual report in DSE for annual report of some company I went to those
companies physically and collect annual report via making photocopy of the annual reports.
Managers of those companies help me whenever they hear about my thesis work and encourage
me to continue my work. They also assure me that they will provide any sorts of help; if
necessary. I want to thank them a lot.
Without information technology and technology itself it was impossible to complete the project
paper in right time. So I want to show gratitude to modern science, technology and its inventor
and developers for creating ease in research field.
In a whole I want to thanks the almighty Allah for keeping all circumstances in favor to me and
let me completing my thesis successfully.
The adoption and compliance of IFRS or IAS around the world is increasing rapidly to bring
quality improvement of accounting through generating a uniform set of standards for financial
reporting. However, accounting quality is a function of the firm’s overall institutional setting,
including the legal and political system of the country in which the firm resides. This thesis
paper documents the prospects of IFRS adoption, degree of compliance with them in
pharmaceutical industry and their impact on the financial reporting environment of
pharmaceutical industry considering the underlying institutional and economic factors. It argues
about trade-off between the scale advantage of IFRSs (designed globally by the highly
sophisticated authority) and the local advantage of decentralized adaptation. It is also an effort to
focus on the problems relating to adoption of IFRS in pharmaceutical industry and to reach some
concluding remarks for better applicability of accounting standards in ensuring transparent
information environment in pharmaceutical industry.
Letter of Acceptance
This is to clarify that the project report for BUS-498 on the topic “International Accounting
Standard Compliance in Accounting Practice of Pharmaceutical Industries---A case of
Bangladesh” is prepared by S.M Shaharia Mojumder ; ID:2011-1-10-388 as a partial requirement
for fulfillment of BBA degree from the department of Business Administration; East West
University. This work has deliberately carried out by S.M Shaharia Mojumder under my
supervision during the spring 2015.
I got him as intelligent, handworker, sincere and interiority in nature while he was exerting
efforts in preparation of this thesis paper. He represents handful ideas and applied those
according to scientific manners which can be used as further research or thesis in future.
The report is accepted in the term of quality and form. I wish he lead himself toward the zenith
M.D Rashidul Islam
East West University