BD Post Report
With the call to promote the accounting profession, the Institute of Cost and Management Accountants of Bangladesh (ICMAB) Saturday observed the “International Accounting Day”.
Marking the day, the ICMAB brought out a rally from its Bhaban in the city’s Nilkhet area this morning and returned here after parading the TSC and Central Shaheed Minar, said a press release.
Led by former Presidents of ICMAB M Abul Kalam Mazumder and Momtaz Uddin Ahmed, its Secretary M Abdur Rahman Khan, Treasurer Dr Swapan Kumar Bala, Student Affairs Committee Chairman M Shafiqul Alam, fellow and associate members and a large number of students participated in the rally.
ICMAB observes November 10 as International Accounting Day as it is the member of International Federation of Accountants (IFAC) and South Asian Federation of Accountants (SAFA).
ICMAB is a statutory organisation constituted by the Government under the Cost and Management Accountants Ordinance 1977 (Ordinance No Llll of 1977) and regulated under the Cost and Management Accountants Regulations 1980 (as amended up-to date).
The Ministry of Commerce is the Administrative Ministry of The Institute of Cost and Management Accountants of Bangladesh (ICMAB). The ICAB is one of the first founding members of the SAFA, a forum of professional accounting bodies of SAARC countries decided to join the world in illuminating the importance of accounting and the people in the profession and celebrate the International Accounting Day on November 10th every year.
The date happens to bear great significance for the accountancy community. Italian mathematician and Franciscan friar, Luca Bartolomeo de Pacioli authored a book titled “Summa de Arithmetica Geometria Proportioni et Propotionalita” (Everything about arithmetic, geometry and proportion) which was published in Venice on November 10, 1494.
First of its kind, the book aimed to summarise the mathematical knowledge of that time. It is considered to be the first printed essay on double entry bookkeeping called “Method of Venice” and was a direct base of some widespread works on mercantile accounting.