ABA participates in Annual Seminar 2022 by Cambodia Accounting Club
ABA Bank, the number one commercial bank in Cambodia1, participated in Annual Seminar 2022 organized by the Cambodia Accounting Club (CAC). The event was held on 28 August at the Cambodian-Japan Cooperation Center (CJCC). It was dedicated to assisting accountants and business owners in Cambodia in understanding the importance of financial statements.
The CAC’s seventh Annual Seminar provided participants with knowledge on several key points that help improve work efficiency, design appropriate controls to mitigate risks, and ensure their businesses comply with the country’s tax regime.
Bekzod Ruzmetov, Head of Data Analytics at ABA Bank, was one of the speakers at the event. He presented the audience with information on “Financial Report Usage” which enables accountants and business owners to understand the important tools and methods to run their financial reports effectively.
“Financial statements help businesses depart from guesswork to a more calculated decision-making process. They also provide transparency, which is critical for raising funds for business growth, let alone better control over a business strategy and compliance with laws and regulations.” Ruzmetov commented on the occasion.
“We at ABA Bank realize the benefits of accurate financial statements and the challenges businesses face while preparing them. To address this issue, we introduced, among others, bank account connectivity with QuickBooks Online and Xero Cloud Accounting systems. This integration helps businesses to reconcile their transactions with their bookkeeping entries and even fully automate such processes. That, in turn, provides real-time and credible financial statements that companies of any size and scale need,” he added.
CAC was founded in 2015 by successful audit managers, CFOs, and business consultants. CAC is dedicated to leading and training its members to become Accounting Managers for Small and Medium-sized Enterprises (SMEs) in a short time.
1 ABA is the largest commercial bank in Cambodia in terms of total assets, gross loans, customer deposits and profitability based on the National Bank of Cambodia’s Annual Supervision Report 2021.