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Accountancy
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Issue # 015 February 08, 2003 |
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| Weekly
Poll Results |
| This week
we have asked our readers a sensitive question over which almost
everyone has a different point of view,
we asked for our reader's opinion on
interest and markup?" This is how
our readers have answered uptil now.
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| Both are
islamic |
6% |
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Only markup is islamic |
34% |
| None is
islamic |
40% |
| By the
way... what is markup? |
20% |
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In this week's issue:
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| In the News |
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| Featured Articles |
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| With the US-based
Securities & Exchange Commission suing accounting firm KPMG
for allegedly letting Xerox Corp report false financial
results, uncomfortable questions are being raised about the
sanctity of market intermediaries.
Read
the full article |
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Few would dispute the power true
friendship has to enrich our lives. But what role should
friendship play in the workplace? Is it smarter to keep your
personal and professional lives separate or to purposely seek
out and cultivate friendships on the job?
Read
the full article |
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What at year it was! It was a year full
of the news of Enron, Andersen, World Com, and others. It was
a year of business failures- of tough economic times. It was a
year filled with increasing distrust of business and financial
executives. It was a year in which the U.S. government found
it necessary to establish more stringent requirements for
financial reporting. It was a year in which financial
professionals were forced to take a serious, introspective
look at their business practices. But what have we learned
from such a year?
Read
the full article |
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| Articles for Students |
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| Internal auditors,
external auditors, and consultants who perform internal audit
and review engagements provide reports to management (internal
audit reports). These reports are important because they
provide documentary evidence of the work performed, the
conclusions reached and the recommendations made. The quality
and presentation of such reports makes a substantial
difference to the value added by internal audit and those
performing similar functions.
Read
the full article |
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| Students of management
accounting are faced with a whole new language which surrounds
costing and managerial finance methods and techniques. Terms
such as cost and value management; cost reduction, value
analysis, quality assurance processes and activity based
costing all add to the students’ financial vocabulary.
Read
the full article |
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| In April 2001 the
Auditing Practices Board published a Bulletin E-business:
Identifying Financial Statement Risks and in October 2001,
IFAC’s International Auditing Practices Committee issued an
Exposure Draft1 of a Proposed International Auditing Practice
Statement Electronic Commerce Using the Internet or Other
Public Networks – Effect on the Audit of Financial Statements.
Both the Bulletin and the ED IAPS explain that the terms
‘e-commerce’ and ‘e-business’ have no standard definitions and
are often used interchangeably.
Read
the full article |
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| Check out what they are
talking about in our Forums |
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Feel the urge to
write something? |
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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 along with 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 |
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