Accountancy
The weekly newsletter of accountancy.com.pk
  Issue # 023 April 21, 2003

Weekly Poll Results
After the fall of Baghdad, the hottest issue being discussed in our drawing rooms nowadays is about who is next in line after Iraq. We asked our viewers for comments regarding this situation and this is how our readers have responded uptil now.

Iraq down... who's next for USA?
Iran 23%
Syria 39%
North Korea 3%
Pakistan 12%
Other 4%
Any country with dictatorship 1%
Any country with oil 18%
 
 
 
 

 

 
 
In this week's issue:
 
In the News

General
1st Islamic TFC of Rs250m this month
Auto makers asked to cut prices
KESC tariff raised by 12-20 paisa per unit- residential and agri consumers spared
DTRE rules amended to facilitate exporters
CBR formulating new sales tax refund verification system
Investors taking to new financing modes
IMF advice for turnover tax rate hike rejected
Commercial import of furnace oil may be allowed
Sales tax refund claim on fake invoice to be treated as tax fraud
Pakistan goods declaration at sea and air ports brought at par with world standard
CBR to allocate national tax numbers to all taxpayers
State Bank invites suggestions for revised Prudential Rules
Revenue Board yet to decide cases of misdeclaration
Revenue Board fails to recover Rs 200 million from two companies
NIC planning to set up reinsurance company with private sector sharing
Revenue Board detects Rs 10 billion through sales tax audit in June-February
Cement industry- CBR devises new system to check sales tax and CED evasion
Revenue Board allows supply of material against property transfer
Revenue Board makes amendment on crossed bank draft payment
Saudi-Pak to finance 19 companies with Rs 888 million
   
Practice
Silicon Valley Companies Beefing Up Internal Audit Divisions
U.S. accounting board votes to set auditing rules
AMR's auditor issues going concern warning
ICAEW loses £1m in stock market
PricewaterhouseCoopers announces conversion to pwc.com
Symantec, PwC teams on security solutions in India
Accountant suffers from identity theft
   
Student
ICAP - New NBFC Rules to be included from Winter 2003 exams
ICAP - Last date of form submission for Summer 2003 exams
ICMAP - Circular issued regarding exam of Industrial Relations Ordinance 2002
   
Featured Articles

Take the guesswork out of marketing spend - by Professor Robert Shaw

Although many companies have increased their marketing spending over the past decade, the impact of this spend has often been ineffective. Since 1992, measured advertising expenditure has grown by 50 per cent, but these increases have led to increases in sales in only 50 per cent of cases examined. Read the full article
 

Harmonising strategic marketing and finance - by Mike Wilman

Mike Wilman is of the opinion that marketing as a strategic tool links the functions of Marketing and Finance. He states a marketing plan should always support the corporate plan. Read the full article

 
Articles for Students

Flowcharting made simple - by Mark W. Lehman

As accountants advance into higher managerial positions and take on more strategic responsibilities, many find that flowcharts and similar graphic representations enhance their efforts and enable them to better communicate complex plans. Read the full article
 

Targeting Spreadsheet Data - by Paul L. Bordelon

Have you ever needed to analyze a specific group or range of data in a complex spreadsheet with many rows and columns? For example, you may want to review a depreciation schedule to determine whether your current-year asset additions were assigned the appropriate tax life. If you have numerous prior-year assets commingled with your current-year additions, it may take you hours scrolling through the depreciation schedule and searching for current-year asset additions—a tedious chore that may lead to inaccurate results. Read the full article

 
Check out what they are talking about in our Forums

Further Qualifications (in forum "Accounting and Audit")
Excellent Book On IAS (in forum "Accounting and Audit")
Credit Card Journal Entry (in forum "General Discussion")
Are MBA's better than us accountants (in forum "General Discussion")
Combined paper of FA+FR (in forum "Students")
Do all firms meet standarads of Foriegn members (in forum "Firms")

MODULE E V/S PE-1 (in forum "Students")

CA - MODULE E - Study guidelines... (in forum "Students")
Input Tax Adjustment (in forum "Tax")
Future of ecommerce (in forum "Technology")
Revision of ACCA exemption ....... Right OR Wrong? (in forum "Students")
Good Luck to Foundation Students !! (in forum "Students")
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")
Best foreign job destination (in forum "Career")
 
In our Reference Library

Note: You will need Adobe Acrobat® to read the library items featured below. Download Acrobat Reader®
 
Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 (333 Kb)
 
Introduction to ERP: Overview of ERP Systems
ERP Systems: Audit and Control Risks
Fraud Auditing in a SAP Environment
SAP Audit Work Program
 
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 Institute of Chartered Accountants of Pakistan
- Volume I (109 Kb)
- Volume II (110 Kb)
- Volume III (139 Kb)
- Volume IV (206 Kb)
- Volume V (335 Kb)
- Volume VI (154 Kb)
 

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 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