The Brunei Darussalam Accounting Standards, BDAS aims to ensure a higher level of uniformity and consistency in financial reporting among all non-public interest entities in the country. The standard would enable users of financial statements in particular to compare and assess entities' performance to facilitate decision making based on quality information. BDAS was issued by the Brunei Darussalam Accounting Standards Council for all non-public entities in the country since the 1st of January 2018. A briefing on the matter was held yesterday morning for government officers, penghulu mukim, village chiefs, business communities and entrepreneurs in the Belait District.
Present at the briefing was Dayang Chairani binti Haji Sulaiman, Director of Revenue Division, Ministry of Finance. The briefing was delivered by Dayang Nurul Fadilah binti Haji Osman, Finance Officer at the Revenue Division, while a briefing on Bank Usahawan was delivered by Noorazwan bin Awang Osman, Bank Usahawan Communication Officer. The briefing among other things touched on the issuance of BDAS and the standard and uniform financial statements that would ease matters related to financial management, such as obtaining loan from financial institutions and relevant agencies as well as in the insolvency process.
Source: Radio Television Brunei