Accountancy
The weekly newsletter of accountancy.com.pk
  Issue # 016 February 17, 2003

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. 
Both are islamic 5%

Only markup is islamic

32%
None is islamic 44%
By the way... what is markup? 18%
 
 
 
 

 

 
 
In this week's issue:
 
In the News

General
Revenue Board audit parameters for ghee inputs opposed
Directive issued for strengthening stock brokers' conduct
CBR orders scrutiny of steel melters, rolling mills' sales tax account
Adjustment in textile categories 6, 9, 20 allowed- EU rejects Pakistan request for exceptional quota
Central Board of Revenue carving out strategy to broaden tax net
Pakistan's textile exports register 19.2 percent rise in seven months
PCMA urges end to hurdles in duty and tax remission for export rules implementation
Revenue Board not to ban filament yarn import under DTRE scheme
Revenue Board urged to allow temporary imports for a year under DTRE
Roadmap identified to introduce margin financing by June
MCB shareholders cheered up at 50 percent payout for 2002
IFC and ABN-Amro sign $80 million 'Trade Enhancement Facility' deal
PIA's term finance certificates oversubscribed by 40 percent
Sales tax registration- wrongly served notices to be withdrawn
PVMA tells Revenue Board- ghee prices relief possible only on five percent levies cut
Central excise duty evasion- Revenue Board unable to ascertain beverage output data
Malaysian firm to set up LPG terminal at Port Qasim
Less imports to protect industry- Safeguard Measures Rules, 2003 issued
35 percent ghee units closed due to heavy taxation
Revenue Board starts sales tax arrears recovery from short-filers
Pakistan makes a beginning in ECN
Revenue Board clarifies definition under Income Tax Ordinance
State Bank guidelines for microfinance banks mobile operations
Two foreign exchange companies allowed to take non-dollar notes to Dubai
SECP received 694 complaints against listed companies in 2001-02
State Bank cuts mark-up rate to 9.5 percent
Stocks more attractive for investment than securities, money market
Karachi Stock Exchange opposed to opening of fourth stock exchange
Pensioners Benefit Account Rules, 2003 issued
Exporters warned of likely high war risk insurance
 
Practice
PWC- HR strategies increase profit
Auditors to probe books for Somalia peace talks
Accounting firm PWC on Tyco hotseat
Auditors in Dubai form new business group
D-day for Equitable in auditor fight
Auditors to win fight for limit on losses
Auditors in Korea to be Fined for False Disclosure
E&Y successfully blocks Equitable negligence claim
Tax scandal worrying Ernst & Young staffers
AICPA Downsizing Across the Board
Deloitte sees $350 billion outsourcing investments in India
Probe targets Hub office of Tyco auditor
Accounting firm involved in criminal case
Deloitte names William Parrett global CEO
KPMG To Take Waste Management Strategy To Ahmedabad, Bangalore
Ernst & Young reverses stock options accounting opinion
KPMG Legal seeks name all its own
 
Student
Computerized CPA exams to be launched in April 2004
ICAP announces Winter 2002 Professional Examination Results
CIMA - New exemption policy effective from Feb 01, 2003
CIMA revises syllabus
CIMA - Updated examination format
 
Featured Articles

Enhancing Your Technology Expertise - by Max Messmer

Technology has played an important role in shaping the accounting profession and will continue to change the way people work in years to come. New versions of financial software applications are being introduced continually, and timely upgrades are a competitive necessity. While advanced software and hardware features offer many benefits, even the most tech-savvy accountant can find it challenging to stay current. Keeping skills up-to-date requires a lasting commitment to learning. Read the full article
 

Managing Corporate Culture for Strategic Success - by Mark N. Clemente

Corporate culture is one of those amorphous business concepts that leaders too often neglect because of its sheer intangibility. Yet culture -- an effective culture -- is arguably the most valuable intangible asset a company can own. Read the full article

 
Articles for Students

What Value Do You Bring to the Bottom Line? - by SmartPros

Say you are up for a promotion or trying to land that new job. During your meeting with your boss or prospective employer you are asked a very pointed question: "What value can (do) you bring to this organization?" How would you respond? Read the full article
 

Demand based pricing - by Nigel Coulthurst

The pricing decision is important in any organisation as it will be one of the factors influencing a potential customer’s decision on whether to buy a particular product/service. Demand for a product will generally react in some way to a change in selling price, i.e. there will be a degree of demand ‘elasticity’. Read the full article

 
Check out what they are talking about in our Forums

Income tax Ordinance 2001 (in forum "Tax")
Future of ecommerce (in forum "Technology")
Looking for CFO (Job Opportunity) (in forum "Career")
Looking for Asst. Financial Officers. (in forum "Career")
Why accountants R so boring & dry ........? (in forum "General Discussion")
Revision of ACCA exemption ....... Right OR Wrong? (in forum "Students")
Good Luck to Foundation Students !! (in forum "Students")
What has become of the old KMHR? (in forum "Firms")
What is XBRL?  (in forum "Technology")
Should acquiring new clients be your top priority (in forum "Accounting and Audit")
Should external auditors provide “Other Services" (in forum "Accounting and Audit")
Should Accounting Firms publish their Financial Results (in forum "Crisis in the accounting industry")
Are Auditors Really Independent!!! (in forum "Crisis in the Accounting Industry")
Did Yousuf Adil deserve DTT Membership? (in forum "Firms")
Best foreign job destination (in forum "Career")
 
In our Reference Library

- Technical Releases (Auditing) issued by the Institute of Chartered Accountants of Pakistan.
 
- Technical Releases (Accounting) issued by the Institute of Chartered Accountants of Pakistan.
 
- Selected Opinions issued by the Technical Committee of ICAP in downloadable PDF format.
Volume I
Volume II
Volume III
Volume IV
Volume V
Volume VI
 

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