GOBD stands for Generally Accepted Accounting Principles for Bangladesh. It is the accounting framework used in Bangladesh to ensure that financial statements are prepared in a consistent and transparent manner. GOBD is based on the International Financial Reporting Standards (IFRS), which are used in over 140 countries around the world.
GOBD is important because it helps to ensure that financial statements are accurate and reliable. This is essential for investors, creditors, and other users of financial statements to make informed decisions. GOBD also helps to promote transparency and accountability in the financial reporting process.
