Letter of Transmittal

March 15, 2015

Md.Rashidul Islam

Senior lecturer

Bachelor of Business Administration

East West University

Subject: Submission of the thesis report on “compliance of international accounting standards inaccounting practice of pharmaceutical industry firms —a case of Bangladesh”

Sir,

I am here to inform you that I have accomplished the project paper on the topic that was assignedby you at the beginning of this semester. It is my great pleaser to inform you that this is one ofthe best topic that I have not dealt with ever before and most knowledgeable to me. When I tryto start the work on this topic with a bare mind; I was too much pessimistic about my confidenceto deal with this topic. But later I got it too interesting and challenging; when I start extensivereading 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 hadlearned more about BAS, IAS, and their application through a practical way by analyzing theirapplications in pharmaceutical industry. I owe to you for your greater assistance throughout thedevelopment 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 considerthose limitations insignificantly and help me to improve those limitations. If any furtherinformation or amendment is required then you will get me ready in providing the missinginformation instantly and making correction; if necessary.

I therefore want to express gratitude for your all invaluable supports, time, care, opinion andsuggestion that you had given to me for successfully completing my thesis report.

Sincerely your;

S.M Shaharia Mojumder

ID: 2011-1-10-388

Department of BBA

East West University

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Acknowledgement

For a student of BBA department it will be tuff to deal with the high profile topic for the firsttime without any assistance form experienced personnel suggestions, opinion and guideline.While conducting my study on the topic “International Accounting Standard Compliance inAccounting Practice of Pharmaceutical Industry Firms” I got full support about direction,opinion, and instruction from my honorable instructor “Md Rashidul Islam”. Just giving tanks isnot 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 andMustofa Safayet”-- for helping me by supplies IAS and BAS related materials which help me agreat 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 pharmaceuticalindustries. DES officials respond favorably and help me in searching annual reports of somepharmaceutical firms. I should say thanks to them for their helps and friendly responses.

Our EWU library is enriched with numerous invaluable accounting book, magazine andliterature. EWU library give me a good stream of knowledge in primary stage of developingthesis paper

I don’t get all annual report in DSE for annual report of some company I went to thosecompanies 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 encourageme to continue my work. They also assure me that they will provide any sorts of help; ifnecessary. I want to thank them a lot.

Without information technology and technology itself it was impossible to complete the projectpaper in right time. So I want to show gratitude to modern science, technology and its inventorand 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 andlet me completing my thesis successfully.

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Abstract

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.

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Letter of Acceptance

This is to clarify that the project report for BUS-498 on the topic “International AccountingStandard Compliance in Accounting Practice of Pharmaceutical Industries---A case ofBangladesh” is prepared by S.M Shaharia Mojumder ; ID:2011-1-10-388 as a partial requirementfor fulfillment of BBA degree from the department of Business Administration; East WestUniversity. This work has deliberately carried out by S.M Shaharia Mojumder under mysupervision during the spring 2015.

I got him as intelligent, handworker, sincere and interiority in nature while he was exertingefforts in preparation of this thesis paper. He represents handful ideas and applied thoseaccording 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 zenithof success.

---------------------------------

M.D Rashidul Islam

Senior Lecturer;

Business Administration

East West University

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