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Opinion

Management control: The role of discipline

Operational systems all include and require a substantial amount of human activity and interaction. An organisation can be described as a social arrangement for the controlled performance of collective goals. Another way to describe it is as a 'human activity system'.

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SAARC’s Avoidance of double taxation

CBR’s new member of Direct Taxes – Salman Nabi will place Pak viewpoint at Saarc moot going to be held from October 26 to 28, 2004 in Kathmandu, Nepal. SAARC countries would soon see a multilateral treaty for limited purposes to promote economic activities within the region.

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Relevant costs for decision-making

Commercial organisations usually make decisions with the objective of maximising the present value of future cash flows. In order to ensure that the right opportunities are taken to do this, we need to be able to measure the relevant costs for decision-making.

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Fortunate to get another Ramzaan

After Imaan, Salah and Zakat, the most important pillar of Islam is Swoom (Fasting) during the month of Ramzan (the 9th month of the Islamic calendar). Fasting in the month of Ramzan is amongst the fundamentals of Islam; one who denies its obligation goes out of the fold of Islam.

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Educating Business Taxpayer

After finance act, 2004, I was trying to convince my employer regarding his apprehensions about taxes. I said, “Sir now the Government has done almost every effort to facilitate the taxpayer in the payment of taxes.” He replied. “We are sweating to earn the money through our business and in future the commissioners will not be sweating in collecting the taxes because they have got LTU, MTU and STU air-conditioned on the premise that we will further sweat to pay taxes.”

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Environmental management accounting

The global profile of environmental issues has risen significantly during the past two decades, precipitated in part by major incidents such as the Bhopal chemical leak (1984) and the Exxon Valdez oil spill (1989). These events received worldwide media attention and increased concerns over major issues such as global warming, depletion of non-renewable resources, and loss of natural habitats.

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Finance Act, 2004 – Students’ Perspective

While writing this article for students, I was pondering about my exam days when the seniors used to tell us that please don’t read the Finance Act. The reason is that it is not applicable for this attempt – The biggest examination preparation mistake I made at that time, believe me! If I have got the list of deleted items, my preparation would have become a lot easier.

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Managing the Cost — and Value — of Failure

Individuals and organizations experience failure on a continual basis. Most failures are small, a few large, and a certain few catastrophic. Financial managers are quick to perceive the cost of failure, typically in the form of wasted money or lost opportunity. But many financial managers "fail" to recognize the significant value that is also present in nearly every failure.

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Incomplete records

Completing an incomplete records question is like completing a jigsaw puzzle – except that you have to create some of the pieces. Although such questions often look complicated, a simple methodology can be applied. To carry on with the jigsaw analogy, the methodology can be broken down into a few steps.

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Accountants in a Materialistic Economy

We are currently living in the new age of materialism which have not jolted down the giant corporate entities like Enron, world com, Global crossing etc but has also resulted in the collusion of one of the big five accounting firm Arthur Anderson. This accounting firm disappeared in the implosion along with the well known corporate giants.

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