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Tag Archives: Accounting Profession News

ACCA to Launch Initiative Aimed at Enhancing Competitiveness of SMEs

An important part of ACCA’s institutional work towards public interest is to contribute to the growth of SMEs. ACCA has come up with a SME policy “Putting Small Business First” which aims at enhancing the competitiveness and resilience of SMEs. ACCA Pakistan will formally launch this policy at “SME Conference 2009” planned 12 March 2009 in Lahore. The Conference aims ...

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ACCA Pakistan Awards Platinum Employer Status to Coca Cola Beverages Ltd

(Feb. 10, 2009 – Karachi) ACCA (Association of Chartered Certified Accountants) awarded Coca Cola Beverages Pakistan Ltd with Platinum Approved Employer Status in recognition of their commitment towards training and development of ACCA trainees. ACCA’s Approved Employer Scheme plays a pivotal role in the recruitment, development and retention of the ACCA trainees and members. As a benefit of being an ...

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ICAP Not Competent to Issue Relaxation on Application of IFRSs and IASs

KARACHI (February 10 2009): It is not within the ambit of Institute of Chartered Accountants of Pakistan (ICAP) to issue any relaxation from application of International Financial Regulatory Standards (IFRSs) or International Accounting Standards (IASs). However, Securities and Exchange Commission of Pakistan (SECP), being regulators, are empowered to lay down specific treatments in certain special circumstances which prevail over the ...

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SECP needs to suspend impairment in valuation of investment for Accounting Year 2008

KARACHI (February 08 2009): The Securities and Exchange Commission of Pakistan (SECP) needs to suspend the impairment in valuation of investment for accounting year 2008. Views to the above were generally given at a meeting held on Saturday at the Institute of Chartered Accountants of Pakistan in Karachi. The participants included representatives from banks, DFIs, leasing companies, investment banks, mutual ...

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Global economy discussion gets personal – with launch of new ACCA site

ACCA (the Association of Chartered Certified Accountants) has recently launched a dedicated new micro site which gives its members an opportunity to share experiences and receive personal support on dealing with the current economic situation. The new micro-site  www.accaglobal.com/economy brings together existing analysis, resources, business strategy ideas and discussion boards, giving ACCA members the opportunity to share ideas on how ...

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Hasan A Bilgrami Elected President of ICMAP for Period 2009-11

KARACHI: Hasan A Bilgrami has been elected President of Institute of Cost and Management Accountants of Pakistan (ICMAP) for the period from 2009 to 2011. This announcment was made in the 249th National Council meeting held on Monday, January 19 in Karachi. Other office-bearers, elected by the council, include Vice President Mohammad Hanif Ajari, Honorary Secretary Zia ul Mustafa Awan ...

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ACCA research reveals weaknesses in coaching and mentoring across the finance profession

Research conducted by ACCA (the Association of Chartered Certified Accountants) reveals that coaching and mentoring is being poorly practised across the finance profession, revealing a lack of understanding of good practice and ultimately leading to poor returns on training investment. Key findings of the report, entitled “The Coaching and Mentoring Revolution – is it working?” surveyed 700 ACCA members across ...

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ACCA and SCCI Launch Booklet for Small Business Owners

(Karachi – Jan. 5, 2009) ACCA in conjunction with SCCI recently launched a booklet for small businesses and entrepreneurs entitled Putting Small Business First which provides practical guidance to small business owners on aspects of business management such as maintaining cash books, records of inventory, debtors and creditors, maintaining productive working relationship with banks, preparing records of financial position and ...

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Workshop on Development of Bookkeeping Skills for Entrepreneurs Organized by ACCA and SMEDA

(Gawadar, January 4 2009) ACCA and SMEDA have jointly organised a workshop on bookkeeping in Gwadar. The workshop aimed at enabling the entrepreneurs understand the fundamentals of accounting and bookkeeping thus facilitating small business owners to maintain relevant and reliable records that would help in internal and external decision- making as well as improved access to finance. The workshop was ...

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ICMAP releases draft of Cost Accounting Standard for Chemical Fertilizer Companies

KARACHI, November 26, 2008: Institute of Cost and Management Accountants of Pakistan (ICMAP) has released a draft of Cost Accounting Standard for Chemical Fertilizer Industry. The objective of this Standard (CAS-1) is to facilitate the companies that manufacture chemical fertilizers to maintain their cost accounts in accordance with the requirements of the “SECP Companies Cost Accounting Records (General Order), 2008 ...

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