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Opinion

Suspense accounts and error correction

Suspense accounts and error correction are popular topics for examiners because they test understanding of bookkeeping principles so well. A suspense account is a temporary resting place for an entry that will end up somewhere else once its final destination is determined. There are two reasons why a suspense account could be opened:

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Be Your Best: What It Takes to Succeed Today

Success, the great writer Henry David Thoreau once observed, "usually comes to those who are too busy to be looking for it." This sentiment continues to resonate for me in twenty-first century business, where the challenges -- and the opportunities -- are far greater than in Thoreau's day.

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Internal Audit – An Untapped Resource

Unfortunately in the past, internal audit was under-estimated and neglected arm of an organisation. Entrepreneurs in the past could not realize potentials and organizational values of internal audit and as a result, have suffered a lot both tangibly and intangibly.

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Financial Reporting and IAS-12

International Accounting Standard number 12 was and is the most misunderstood International Accounting Standard in the financial reporting history of Pakistan, apart from International Accounting Standard 32 and 39. The prime reason of this conceptual misunderstanding is the three-dimensional Income Tax Ordinance, 2001 and Sales Tax Act, 1990.

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Acclimating to Your Company's Culture

Every company has a unique corporate culture or way of doing things. For example, some firms emphasize collaboration on projects, while others prefer an individual approach to assignments. Some companies expect their employees to work overtime on a regular basis; others don't focus on the time involved as long as the work is completed. These and other factors are all part of the larger way that organizations conduct their business.

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Ten Steps to Help CFOs Sleep Better

In a recent survey conducted by Robert Half Management Resources the top two areas of potential vulnerability and concern cited by CFOs are disaster recovery (37%) and the security of information systems (24%). A common theme between these exposures is the need to better identify and understand the full range of risks that companies face today and the need for all organizations to develop new ways to more effectively manage these risks.

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Making Reference Checks Work for You

After you've submitted your resume and interviewed with prospective employers, what else will they need from you? If you're a finalist for the job, the chances are they'll ask you for the names of people who can attest to your strength as an employee. A survey from Accountemps found that executives typically speak with at least three references before considering an applicant for a position.

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Linking Strategic Educational Development to Business Goals Equals Workforce Optimization

A common refrain can be heard echoing down the halls of financial services firms as they work to emerge from a prolonged global economic slump: "Investing in our people is a top priority". Indeed, the findings of a recent Accenture survey of senior executives on issues relating to the workforce bear this out, placing human performance among the highest strategic priorities on corporate agendas around the world.

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