ACT 201

FINAL INDIVIDUAL ASSIGNMENT

I have completed my BBA qualification and applied for the job in Grameenphone (GP). As a part
of the recruitment process, they have asked me to write an essay about three questions. I will
try to write the best possible answers to the questions asked by Grameenphone as part of the
recruitment process as an essay with my knowledge that I have learned so far in courses at
NSU.

Grameenphone

1. Briefly write down what you have learned in your accounting course at NSU.

 As I was from science background before starting BBA in NSU, so I thought it would be
tough to cope up with this accounting course. But this course was designed in such a way,
and my honorable faculty helped me in such a practical way that it helped me to
understand this course efficiently.

 My accounting course at NSU has mainly focused on the application of accounting

principles, which are broadly used all over the world to understand transaction recording
and summary of the functions. It has also covered whole accounting cycles which includes:
a) How to analyze and measure transactions
b) After analyzing transactions events, how to record the transaction in the journal
c) After journalizing the transactions, how to post information from the journal to the
ledger
d) After finishing ledger, how to prepare a trial balance
e) After preparing a trial balance, how can we make adjusting entries to set up an adjusted
trial balance
f) After making adjusting entries, how to prepare an adjusted trial balance
g) When the adjusted trial balance is done, how to make financial statements
h) After making all the financial statements (Balance sheet, income statement, statement
of owner's equity, cash flow statement), how to prepare closing entries
i) After making closing entries, lastly how to make a post-closing trial balance
Then I have a clear understanding of the topic accounting cycles. From that knowledge, I
always get the confidence when I try to do something regarding this topic.
 I have learned ethics, principal, and assumptions of accounting, which give a clear visual
representation of the necessity of being an honest accountant, knowledge of cost and fair
value principal to represent relevant data and knowledge of monetary and economic entity
assumption to know the effective way to record transactions and activities. It's the essential
foundation that gives a clear idea before going into the main parts of accounting.

 I have learned a lot about inventory, which gave me brief knowledge about finished goods
that are available for sale, raw materials, and the process of being made. To record essential
quarterly or annual inventory, the experience I got from my course about inventory can
help me in every situation regarding inventory. I got to know with knowledge of inventory,
an accurate representation of a company's financial health can be made and help to keep
track of the value of items.

 I have a broad, detailed knowledge of the Classified balance sheet also, which will help me
to understand the complex and critical balance sheet of a company like Grameenphone
(GP). Cause in a company like Grameenphone (GP), the balance sheet is not unclassified. Its
balance sheets are always classified, which include assets and liabilities, either it is short-
term or long-term. The classified balance sheet of GP includes Non-current assets, current
assets, shareholder's equity, non-current liabilities, current liabilities.

 I got detailed knowledge of accounting and information systems (AIS). I got to know how a
company collect, store, process, and report financial data. I learned how AIS Helps to
interact with different departments in a company. To store and retrieve data, AIS uses
hardware and software to make the whole process effective. But sometimes cybercrime
may appear here where some people can steal the confidential pieces of information of a
company by hacking their systems. For collecting, storing, processing financial data, the
methods of an AIS can be manual and automated.

 I have learned and aware of fraud and internal control. A company can have dishonest
employees who can do a fraudulent activity to gain and achieve their benefits. I have also
got to know why an employee becomes dishonest? Three factors (Opportunity, financial
pressure, and rationalization) can influence an employee to do fraudulent activities. I have
also known how inertial control works against frauds. To minimize fraud activities, the
purpose, objectives, and components of internal control are clear to me. By

a) ensuring laws and regulations against fraud activities

b) identifying and minimizing the risks
c) controlling the environment
d) implementing the entity's risk assessment process
e) enhancing information system
 f) controlling all activities
g) monitoring of controls, etc.
Fraudulent activities by a dishonest employee can be stopped.

 I got proper knowledge about plant assets, depreciation methods, natural resources, and
intangible assets. Now I know those plant assets (property, land, equipment, etc.) are the
individuals who have physical substance, are utilized in business activities, are not available
to be purchased, and are relied upon to be used for few years. I got to know insights
concerning depreciation methods (Straight-line, units of activity, and declining balance
method), which are chosen by the administration of an organization to quantify an
advantage's commitment to income over its valuable life. I have also learned about the
three ways (Retirement, sale, and exchange) of disposal of plant assets used by companies.
Therefore, natural resources are mainly underground deposits of oil, gas, and minerals from
where a company or government of a country can do business. Then I learned about
intangible assets, which are mainly patents, copyrights, goodwill, trademarks, etc. It
protects the unique name, legalities, rights, etc. of a company.

 Then I have learned in detail about the statement of cash flows. I got to know that, by
making the statement of cash flows, an organization can sum up the number of money
counterparts entering and leaving the organization. The company can also figure out how
good they are managing their cash position to pay their debt obligations. By knowing
operating activities (Direct and indirect methods), investing activities, and financing
activities, I can make the statement of cash flows of a company without any doubt and
hesitation.

 Last but not least, I have learned one of the essential topics of accounting, which is financial
analysis. Three types (Intracompany basis, inter-company basis, and industry averages) of
comparisons matter most for investors. I got to know the three essential tools ( Horizontal,
vertical and ratio analysis) of financial statement analysis where horizontal analysis mirrors
the rate development in the pattern year; vertical analysis is the strategy for dissecting the
budget summaries where each detail is recorded as a level of something else to lead
valuable dynamic, and ratio analysis mirror the connection between different bits of money
related data which decides the gainfulness, liquidity, and dissolvability of an organization's.

2. How your accounting knowledge can help you to understand the company's
accounting system (you need to research their financial statements, i.e.,
Balance sheet, Income Statement, Statement of change in Equity, Cash flow
statement, Director's declaration, Notes, Ratios, etc.)
 As I have already answered question number 1, where I gave detailed information about
what knowledge I got from my accounting course at NSU. Following that, I want to add that
with my accounting knowledge I can understand the company's accounting system because
from recording financial data to analyzing the financial statements, I have learned all the
essential information-theoretically, mathematically and practically. That knowledge will
help me to understand the accounting system of Grameenphone (GP).

 The balance sheet of Grameenphone (GP) of the year 2018 & 2019 is given below:

After researching and analyzing the balance sheet of Grameenphone (GP), I clearly
understood how they are collecting and recording financial data, as I have told earlier that I
have detailed knowledge about the classified balance sheet. So, with that knowledge, I can
state that this is the classified balance sheet of GP comparing the performance between the
years 2018 and 2019. This is a detailed balance sheet where all the useful information can
be found, and it also categorizes assets and liabilities, either it is short-term or long-term.
 The classified balance sheet of GP includes Non-current assets, current assets, shareholder's
equity, non-current liabilities, current liabilities. So, the detailed knowledge of the classified
balance sheet can help me to understand the classified balance sheet of Grameenphone
(GP).

 The statement of profit or loss and other comprehensive income of Grameenphone (GP) of
the years 2018 and 2019 are given below: (Auditor's Report and Audited Financial
Statements of GP, 2019)

After researching and analyzing the statement of profit or loss and other comprehensive
income of Grameenphone (GP) of the years 2018 and 2019, I can state that I understand
this statement clearly because I have mentioned earlier that I have adequate knowledge
about making financial statements. As we know, there is no difference between profit or
 loss statement and income statement. So, with that knowledge, I clearly understand how
GP is recording its revenues and expenses and, at last, find out the final comprehensive
income for the year. As I can see, there is a comparison of profit or loss between the years
2018 and 2019 to find out the effectiveness of GP's business.

 The statement of changes in equity of Grameenphone (GP) for the year 2019 is given
below: (Auditor's Report and Audited Financial Statements of GP, 2019)

After analyzing and researching the statement of changes in equity of Grameenphone (GP)
for the year 2019, I understand the whole process behind making this system because I
have told earlier that I have adequate knowledge of preparing financial statements where
the statement of changes in equity is included. I can see from this statement that they have
shown the opening balance, transactions with equity holders, and, at last, total
comprehensive income.

 The statement of cash flows of Grameenphone (GP) for the year 2019 is given below:
(Auditor's Report and Audited Financial Statements of GP, 2019)
 After analyzing and researching the statement of cash flows of Grameenphone (GP) for the
year ended December 31, 2019, I can state that with the knowledge of making the
statement of cash flows that I have got from my course at NSU I can get the full statement
that GP has made. I can clearly understand that operating activities included the uses of
cash from business activities, investing activities included applications of money from GP's
investments. Lastly, financing activities included the sources of money from investors,
banks, and uses of cash paid to shareholders.

 Financial ratios of Grameenphone (GP) are given below: (www.investing.com, 2020)

 After analyzing and researching the financial ratios of Grameenphone (GP), I can say that my
knowledge about financial ratios, which I have mentioned before, can help me to
understand the whole financial ratios of Grameenphone (GP). As I can see, there is a
different kind of ratios, such as quick ratio 0.19 (means GP has $0.19 of liquid assets to
cover those immediate obligations), current ratio 0.19 (means for every dollar of current
asses GP has $0.19 to pay short term obligations within a year), Debt to equity, Total Debt
to equity, asset turnover, inventory turnover, receivable turnover, etc.

3. Suggest how your chosen company can prepare (if they are not presently
using SDGs) or improve (if they are presently using SDGs) report(s) based on the
Sustainable Development Goals (SDGs)

 As we know, my chosen company Grameenphone (GP) is a part of Telenor Group, which is

already using SDGs, according to Telenor Sustainability Report 2017.
So, they can improve reports based on the Sustainable Development Goals (SDGs) by
taking some necessary steps and maintaining some procedures which are given below:
i. Grameenphone (GP) can report to different outside associations, including UN Global
Compact, the universal revealing standard GRI, and CDP concerning environmental
change exposure to guarantee organized, straightforward, and applicable announcing of
supportability execution.

ii. Grameenphone (GP) can use a materiality assessment process, depending on the
Consolidated Set of GRI Sustainability Reporting Standards, to accept the degree of
outside and interior partners, which will assist with recognizing natural, social, and
financial subjects which generally matter both to them and GP's business.

iii. As we know, the ex-CEO of GP Michael Foley had already said about SDGs back then. So,
the newly appointed CEO, Yasir Azman, should discuss SDGs in a press release to give a
clear signal that GP's movement on the SDGs is handled from the very top of the
organization, which will help to convince investors and stakeholders.

iv. Grameenphone (GP) can prioritize the SDGs, which are most effective for their business.
The organization to draw in its partners and keep fortifying its relations as a drawn-out
proprietor and colleague, consistent with its duties, values, and the motivation behind
enabling social orders.
 v. Grameenphone (GP) can look up to the UN's 169 SDG targets and can decide which
goals can be introduced and reported to the company; if the target is set, then it will be
a lot easier to implement the SDGs.

vi. Grameenphone (GP) has to watch out for the all possible SDG-related risks and point
out the opportunities for the betterment of GP's business and make an environment
where senior members can give top-notch decisions regarding SDG- related strategy.

vii. After setting the target and prioritize the best possible SDGs, Grameenphone (GP) can
implement the right SDG performance for their business.

viii. Grameenphone (GP) has to make sure that their SDG performance targets are useful
and valid for their business. This is an essential factor that GP has to look after seriously.

ix. Grameenphone (GP) has to make the communication part so useful in a way in terms of
SDG activity, which will engage the investors and stakeholders.

x. Grameenphone (GP) can benchmark its SDG activities to compare it with its
competitors' businesses which will help GP to find out where they have to put more
effort to surpass their competitors.

xi. Grameenphone (GP) can use business case assessment and impact analysis as essential
groundwork because it does not make sense to prioritize the goals for action without
groundwork and to know what opportunities and risks they bring to the business.

xii. Grameenphone (GP) has to conduct a comprehensive program to fully understand the
company's current impacts on the SDGs, in both positive and negative terms, and its
likely future effects on a business as usual basis.

xiii. Grameenphone (GP) has to keep the reports and communications as simple as possible
based on SDGs because while talking to the investors and stakeholders, GP has to show
the terms of SDGs to its investor and stakeholders, which they can understand.

xiv. Grameenphone (GP) has to ensure that people of Bangladesh have the essential
information and awareness about sustainable development and lifestyles through its
highly top-notch network service.

xv. Grameenphone (GP) has to emphasize on enhancing its environmental management

system.
 xvi. Grameenphone (GP) has to address those environmental issues through its service and
contribution to society.

xvii. Grameenphone (GP) can work with external corporation or organization which
represent GP in various ways can suggest GP to which SDG is relevant for GP.

xviii. Grameenphone (GP) has already committed to the UN SDG #10 – Inequalities from 2016.
(Telenor Sustainability Report 2017). Following that, Grameenphone (GP) can select
another one or two in total maximum of three goals, including its first one to set its
main priority.

xix. Grameenphone (GP) has to do the groundwork by studying SDGs carefully because all
are connected, which will help GP to enhance the point of view regarding potential
business opportunities.

xx. Grameenphone (GP) has to make sure that the practice of SDGs is going efficiently
among its employees and also the people who are using the GP network in their
everyday life.

At last, I want to conclude that I have described that what knowledge I have gained from the
accounting course at NSU. Following that, I have also provided a productive discussion about
how my expertise from the accounting course at NSU can help me to understand the
accounting systems of Grameenphone (GP). After that, I have mentioned some steps and
procedures which can help Grameenphone (GP) to improve reports based on Sustain
Development Goals (SDGs) because as it is already following the SDGs but to enhance the
reports based on SDGs GP needs to use some tactics or implement some steps to improve the
SDG reports.
 REFERENCE
1. "Accounting," investopedia.com <https://www.investopedia.com/accounting-4689820>
[Accessed: May 22, 2020]

2. A.Qasem and Co. "Auditor's Report and Audited Financial Statements of GP," December 31,
2019.<https://cdn01.grameenphone.com/sites/default/files/investor_relations/annual_rep
ort/31.%20Auditor%27s%20Report%20and%20Audited%20Financial%20Statements.pdf>
[Accessed: May 25, 2020]

3. “Grameenphone” https://www.grameenphone.com [Accessed: May 26, 2020]

4. “Grameenphone-ltd-ratios”, May 30 , 2020. investing.com.

<https://www.investing.com/equities/grameenphone-ltd-ratios> [Accessed: May 30, 2020]

5. "How to report on SDGs," 2018. <

https://assets.kpmg/content/dam/kpmg/xx/pdf/2018/02/how-to-report-on-sdgs.pdf >
[Accessed: May 30, 2020]

6. "Sustainability," Grameenphone.com. <https://www.grameenphone.com/about/discover-

gp/sustainability> [Accessed: May 30, 2020]

7. "Telenor Sustainability Report 2017," December 31, 2017. Telenor.com.

<https://www.telenor.com/wp-content/uploads/2018/04/Telenor-Sustainability-Report-
2017-Q-6c638468467082531337335a39fe3a95.pdf> [Accessed: May 30, 2020]