 |
|
Accountancy Newsletter |
| |
Issue # 03 November
06, 2002 |
|
| The coming of
the month of Ramzaan creates in us a renewed sense of well-being for
all mankind. We all tend to get more spiritual and tend to perform
our religious duties more diligently. However, it is necessary that
the spirit of this month is continued throughout the year, or all
the good deeds and religious duties we do in this month become just
a farce, another ritual. We wish to all our subscribers all the joys
and merriment of this holy month of Ramzaan-ul-Mubarak. Thank you
The Accountancy team |
|
|
|
|
| Weekly
Poll Results |
| This week, we too joined in
the hottest topic of debate in the country and asked you people who
should be the next prime minister of Pakistan? The results were quite
interesting, especially the number of votes given to the final
candidate in our list! This is how our audience has responded. |
| Zafar-ullah
Jamali |
29% |
| Makhdoom
Amin Fahim |
31% |
| M.
Fazal-ur-Rehman |
2% |
| Anybody but
them! |
12% |
| Other |
10% |
| Pervaiz
Musharraf |
16% |
|
|
| |
| |
| |
|
Advertisement |
|
 |
| |
| |
|
In this week's issue:
|
| In the News |
|
| During the week, the
govermnent
yet again increased gas prices, by 1.63 percent,
applicable equally to domestic and commercial consumers.
The government also
allowed the issuance of duplicate FEBCs and FCBCs in the
case they are destroyed or lost by accident. This used to be a
major worry for the holders of such certificates, which has
now be alleviated. Also in this week,it was learnt that
KESC's privatization will again be delayed and the task
will most probably be carried out by the new regime, and the
Finance Minister saw a brighter economic future when he
announced
that
Pakistan would achieve 4.6 percent GDP growth during the
ongoing fiscal year. In Kuala Lampur,
Pakistan and seven other Muslim countries launched a global
agency on Sunday to set standards for an Islamic financial
system. Also during the week,
SBP Ordinance and the
Banking Companies Ordinance were amended. |
| |
| Coming to the
professional news, crisis again loomed large for this industry
when the US federal
government
filed a $2bn (£1.3bn) lawsuit against Ernst & Young over a
bank's failure. And
PWC agreed to pay $21.5 million to settle lawsuits by a
client's shareholders and creditors accusing the firm of
recklessness in certifying that client's books. In India, the
state government of Kerala appointed
Ernst & Young to prepare a masterplan for the second phase
growth of Technopark, the IT infrastructure showpiece of
Kerala. In UK,
two accounting firms and two of their partners were accused of
taking some $18m (£11.5m) from investors and they were
stopped from public practice. Also during the week, a security
software company owned by Ernst & Young,
waded into the security management market with a
vulnerability management tool. |
| |
| On the student front,
the Institute of Chartered Accountants of Pakistan
announced its Fall 2002 Foundation and Modular Examination
Results. Also during the week, a medal
awarding ceremony was held by ICAP to confer gold medals
for outstanding performance in its last foundation and
professional examination. |
|
|
| Featured Articles |
|
|
Moving your Company Online |
| Electronic commerce
has the potential to change your company's balance sheet
dramatically. Think of the possibilities, the sheer numbers of
potential customers, when your company's products and services
are accessible at an electronic storefront. You'll be part of
an electronic community, and you'll be providing one for your
clients. You can provide greater customer service, immediate
product and account information, and the ability to take
customers' orders as quickly as they can click a mouse.
Read
the full article |
|
| |
|
Differences between Mergers and
Acquisitions |
| M&A differs from the
other reasons for valuations in that an actual arm’s-length
negotiation (not just a written report) takes place. This
article describes differences between merging and acquiring
for CPAs advising a client that will buy or merge with another
business.
Read the full article |
|
|
| Articles for Students |
|
|
Assessing a Job offer |
| While securing a job
offer can be difficult in a competitive employment market, it
can be equally challenging to determine if that situation is
right for you. Generally, the people who know you best are the
best ones to turn to for guidance. Read
the full article |
| |
|
Sharpening your Presentation Skills |
| The role of the
accountant has evolved into a more visible position within the
company. Gone are the days of the stereotypical "bean counter"
who sat in a back room compiling financial reports. Today's
accounting professionals are front and center, providing
information to many different individuals and groups -- often
to people outside of their company or field. To distinguish
yourself and expand your career opportunities, you'll need to
continuously sharpen your presentation skills.
Read
the full article |
| |
|
|
| Check out what they are
talking about in our forums |
|
|
|
|
|
|
|
|
|
|
|
Feel the urge to
write something? |
|
We
invite all our audience to write articles for accountancy.com.pk. If
the article is good and relevant to the theme of the website, we will
publish this article alongwith giving credits to the article provider.
If you are interested in writing for us and have any queries, we will
be most happy to answer all of them. Submit your queries at
articles@accountancy.com.pk
Guidance on submission of articles
http://www.accoutancy.com.pk/article_submit.asp |
|
|