ABA​ participates​ in​ Annual​ Seminar​ 2022​ by​ Cambodia​ Accounting​ Club

02/Sep/2022

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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.