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Accounting Standards in Pakistan
11-01-2004, 02:53 PM
Post: #16
 
Glad to be of help Salman and hope we will benefit from the collective wisdom of your esteemed teachers.

"Allah does not change the state of people unless they change what is within themselves" Quran 1311
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11-14-2004, 11:00 PM
Post: #17
 
Its so strange for such an educated man not to know about acounting standards.<img src=icon_smile_big.gif border=0 align=middle><img src=icon_smile_big.gif border=0 align=middle><img src=icon_smile_big.gif border=0 align=middle><img src=icon_smile_big.gif border=0 align=middle><img src=icon_smile_big.gif border=0 align=middle>
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11-15-2004, 01:58 AM
Post: #18
 
<pre id=code><font face=courier size=2 id=code>Its so strange for such an educated man not to know about acounting standards </font id=code></pre id=code>

Its not strange at all. Accounting and finance is a higly fluid suject area, accounting/auditng standards change/updated so regularly that even the best qualified accountants have to undergo a compulsory period of professional develpmnt each year.

By the time you qualify and end up working in sensitive postions, you would come to know how difficult it is to sit with the client and say, Yes What i have told you is absolute. Quite often you would end up saying, ok I will double check it and will come back to you. This is for a very simple reason that you go back to study material to ensure that you are not the one without a chair when the music stops.


Sometimes, sitting with senior partner and clients
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11-15-2004, 05:30 PM
Post: #19
 
Just adding to Goodman's post

IFRS and other accounting standards, are not like any other law, these may at times be rule based / policy based and take a cummulation of text book reading, various interpetations and understanding of the issue itself.

All large accounting practices have a Technical team / partner who are consulted by other partners/managers/seniors on various issues and at times are also routed through 'risk partners', just to be sure of an accounting policy's adherence to the IFRS etc. Its not just about craming IAS or IFRS, it goes beyond that.

Moreover, this is a fluid medium and not a business administration or a marketing theory we are taking about.

I guess Ophie you are now clear on your comment earlier on

"Allah does not change the state of people unless they change what is within themselves" Quran 1311

Edited by - Pracs on Nov 15 2004 124620 PM
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11-16-2004, 12:33 AM
Post: #20
 
Dear Pracs and Goodman
Thanks a lot for ur support and trust me I do not mind the immature comment of ophie. Because I believe no ONE is expert of any field as there is always new search going on to improve things. Other wise who could have thought about IAS or IFRS about 20 years ago.
Here I will also like to thank ophie that he took some of his precious time to read it all and might had learned some thing out of it.
But at the same time I will again like to thanks both of you for your comments and expressions. And I really care for each of them





Thanks and Regards

Salman Shehzad
Lecturer
Mohammad Ali Jinnah University,
Islamabad Campus.
Phone 92-51-111-87-87-87 Ext 115
Mobile 92-303-7777237
http://www.jinnah.edu.pk
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11-16-2004, 06:41 PM
Post: #21
 
Mighty generous of you Salman )

"Allah does not change the state of people unless they change what is within themselves" Quran 1311
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11-17-2004, 01:28 AM
Post: #22
 
Dear Pracs

Your welcome, I believe this is the basic requirement of my profession.





Thanks and Regards

Salman Shehzad
Lecturer
Mohammad Ali Jinnah University,
Islamabad Campus.
Phone 92-51-111-87-87-87 Ext 115
Mobile 92-303-7777237
http://www.jinnah.edu.pk
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