02-07-2009, 09:00 PM
Mr Kamran
I am not escaping from any discussion. I have said that the Federal Govt and SECP are responsible for drawing framework of financial reporting standards for all type of companies.
You said that I am ignoring your queries? You have also ignored my many queries. I asked from you the accounting books which have written by the CA's and also said that the text books relating to tax and corporate law written by ACMAs/FCMAs are being taught in ICAP.
You also misinterpreted that I written about the Part qualified ACMAs and CAs. In fact I was discussing about the problem of equivalent qualification faced by part qualified ACMA/CA.
I know that the MCB is listed at London Stock Exchange but I dont know about OGDCL.
I never heared about Accounting and Financial Reporting Standards for Medium and Small designed by the ICAP. I think you are mixing the financial reporting framework of companies with the AOP's and Sole Props.
ICAP even not issued guideline for adopting one accounting school of thought for financial reporting purpose.Some companies in pakistan use British Accounting Terminologies and some use American Accounting terminologies in their financial staments. At B.Com,BBA Level and M.B.A american terminologies used in cost accounting and british terminologies are used in financial accounting. Even some students of universities think that they are two complete different subjects and have no linkage. This is the duty of ICAp to draw guideline for the teaching of accounting also.
Infact due to narrow and limited thinking of CAs ICAP is not playing its role properly.
Regards
Awais
I am not escaping from any discussion. I have said that the Federal Govt and SECP are responsible for drawing framework of financial reporting standards for all type of companies.
You said that I am ignoring your queries? You have also ignored my many queries. I asked from you the accounting books which have written by the CA's and also said that the text books relating to tax and corporate law written by ACMAs/FCMAs are being taught in ICAP.
You also misinterpreted that I written about the Part qualified ACMAs and CAs. In fact I was discussing about the problem of equivalent qualification faced by part qualified ACMA/CA.
I know that the MCB is listed at London Stock Exchange but I dont know about OGDCL.
I never heared about Accounting and Financial Reporting Standards for Medium and Small designed by the ICAP. I think you are mixing the financial reporting framework of companies with the AOP's and Sole Props.
ICAP even not issued guideline for adopting one accounting school of thought for financial reporting purpose.Some companies in pakistan use British Accounting Terminologies and some use American Accounting terminologies in their financial staments. At B.Com,BBA Level and M.B.A american terminologies used in cost accounting and british terminologies are used in financial accounting. Even some students of universities think that they are two complete different subjects and have no linkage. This is the duty of ICAp to draw guideline for the teaching of accounting also.
Infact due to narrow and limited thinking of CAs ICAP is not playing its role properly.
Regards
Awais