Bangladesh Post: First of all, could you please brief us about the accounting standard in Bangladesh, comparing to the standard in our neighbouring and developed countries?
Bashir Khan: Bangladesh has adopted the entire international accounting standards and the international financial reporting standards through ICAB. Now government has given emphasis on enactment of the standards through the regulatory body named Financial Reporting Council (FRC). Moreover, ICMAB promulgated 31 cost accounting standards so far. So, it can be rightly said that we are not behind compared to the neighbouring countries.
Bangladesh Post: How Cost & Management Accountant (CMA), as a certification, helped you in upgrading your career and achieving the career goal?
Bashir Khan: CMA qualification is not only a certification rather it is a professional degree that focuses on all the areas of business, technology and the cost & management accounting technical knowhow. So, when anyone gets the certification it is assumed that he has the minimum business and technical knowhow. I personally got confidence about my efficiency and skill sets after getting the certification which helped to develop my career goal.
Bangladesh Post: How you manage your networking? Is CMA community supports you to continue enrich the networking which is helpful for your career?
Bashir Khan: Networking plays a vital role nowadays for the professionals in terms of business, knowledge sharing, jobs or any other purposes. I maintain networking through membership of different professional groups through social media and other professional way. We have many networking groups comprising members from CMA family which are immensely beneficial for development of my career.
Bangladesh Post: Do you think CMA as a profession can play vital role in getting finance/business leader for local & global companies? What challenges / improvement area you can suggest?
Bashir Khan: As I said earlier that CMA professional curriculum is set in such a way that its members have adequate knowledge on managing the local and global business and finance. We have seen that few CMA leaders already proved their competence in the relevant field and holding the CEO/MD positions.
There are also some challenges to become a leader in the business. To overcome the challenges among others it is necessary to have good communication skill, technological skill, analytical skill and people management skill.
Bangladesh Post: What type of leadership style you follow?
Bashir Khan: I follow the participatory leadership style. This type of leaders is more likely to ask, "How do you see it?" And, wherever possible, they share information with employees that affects their work responsibilities. They also seek employees' opinions before making a final decision. Sometimes also follow the affiliative leadership approach. This approach is the most up close and personal. A leader practicing this style pays attention to and supports the emotional needs of team members. The leader strives to open up a pipeline that connects him or her to the team.
Bangladesh Post: How the technology will impact our profession and what your advice for our young professionals?
Bashir Khan: Technological development impacted our accounting profession significantly. As for example we can say that the automation reduced the bookkeeping and recording tasks. On the other hand now, it is very easy to analyze the data provide by the systems, which is necessary for business decision making process. In short, the technology helps us to add value to the business in diverse ways.
We know that the young professionals are more capable about the use of technology. I advice them to use the technology for analytical purpose to greater value addition for the business as well as the society.
Bangladesh Post: What do you look for in a subordinate finance team member?
Bashir Khan: I will encourage team members specially juniors to come up with alternative solutions not just to bring a problem to be resolved. Rather looking only for the numbers please focus on how to improve the process that can add value.
Bangladesh Post: The trend for young generations recently changed toward business education but during your time mostly the trend was toward becoming “Engineer” or “Doctor”. What made you interested to become a cost and management accountant?
Bashir Khan: This is a very good question and I fully agree that nowadays business education get emphasis to the young generations which were just reverse during our time. I got interested to become a CMA instead of other professions like “Doctor or Engineers” as at that time number of professional accountants was very small. I thought it could be a very demandable profession and finally it is a respectable profession now.
Bangladesh Post: Would you please pass your message for the younger generation who has the desire to be an accountant?
Bashir Khan: I would like to say that knowledge is power, nothing like this. So, the young generation has to be flexible, open for change, diversification of knowledge to become a good professional accountant as well as good human being.
Bangladesh Post: Finally what will be your messages on the occasion of International Accounting Day-2021?
Bashir Khan: Messages for the occasion of Accounting Day 2021 is “Accounting for ethical, transparent and accountable society”.