Jobs in Meezan Bank Limited
Saturday, October 31, 2009
Following Jobs are open in Meezan Bank Limited
- Branch Manager
- Service Quality Coordinator
- Operations Manager
- Cash Office
Visit here to get more details about the jobs and to apply.
posted @ 3:21 PM, ,
Query # 1:
By delaying payments and tightening the credit policy. By getting the existing loans rescheduled.
Query # 2:
a- china factor (low prices / close compitition)
b- increasing prices of raw materail
The strategy in this respect should be made by the professionals responsible for business decisions. A finance professional, however, can advise and assist in developing a strategy through which an organisation may fight against these factors for e.g. by offering better quality and extra services such as after sale services or guarantees / warranties. Such a strategy will however require perseverance.
Products may be offered at prices lower than the market prices in order to develop a list of good big customers. Services, if any relating to products, may then be offered to these customers and may be charged for, wherever agreed upon. Ethical standards would play a key role in any business. Therefore there should be no compromise in quality and integrity whatsoever are the financial challenges.
Query # 3:
Mistake is proved to be the key for future success if one learns from his mistakes. It requires self consciousness and ability to identify the cause of bad experiences/ results in one's life.
posted @ 2:07 PM, ,
Seminar on: Detailed Introduction.. And Misconceptions About KIBOR… In Islamic Banking
Monday, October 26, 2009
To enhance / better understanding of ICAP members about concept, structure & operating mechanism of Islamic Banking, the Northern Regional Committee is organizing seminar on Islamic Banking. Later on, the committee intends to organize seminars on Islamic Banking Products, Sukkuk, Takaful, Securitization, Risk management & ethics of trade in the light of Islam.
Current Topic Outlines: Role of Bank in Islam, Basic fundamentals of Sharia compliant banking system, Basis of determination of lending and deposit rates, Role of KIBOR in setting pricing, comparative study of conventional & Islamic banking system, Time Value Theory vs. Demand Supply Theory, Brief Introduction about Pooling & utilization of Funds Management System in Islamic Banking, Frequent Asked Questions (FAQs) about Islamic Banking etc.
1. Date / Day Saturday , October 31, 2009,
2. Venue ICAP House, Thokar Niaz Baig, Lahore
3. Schedule & Presentation Registration: 3.15-3.30
Asr prayer break 5.15-5.30
Presentation and Q/A Session: 5.30-6.30
Followed by Hi-Tea
Mr. Amer Khalil-ur-Rehman
Mr. Amer Khalil is the Senior Vice President /Country Head, Islamic Corporate Banking, Askari Banking Ltd., - Islamic Banking Services. He has been declared Star Performer for year 2008.
He is a member Board of Studies & Members Steering Committee, School of Islamic Banking & Finance, International Islamic University, Islamabad (IIUI). He has been conducting full smester courses on AAOIFI Auditing, Accounting & Sharia Standards at IIUI, IBA, Karachi, Bahria Univeristy. He is a visiting member of panel of advisors on Islamic Banking of the Council of Islamic Ideology, Govt of Pakistan. He has been conducting regular courses at SBP’s National Institute of Banking & Finance (NIBAF) & Askari Bank Ltd. on Islamic Banking.
CPD Hours: 3 hours
Fee: Members: Rs. 300
Non-members: Rs. 500
Registration: Mr. Arshad Mahmood cell# 0302-7292914
ICAP Lahore: Tel: 042-7515708. 7515911-2 Fax: 7515910
Prior registration is encouraged. Please make it convenient to attend the above seminar and communicate the program to all your concerned staff.
Irfan Ilyas FCA
posted @ 11:12 PM, ,
Saturday, October 24, 2009
posted @ 7:08 PM, ,
ICAP Examiner Comment - Mind Blowing
Friday, October 23, 2009
Tukke mein CA pass karna aur baat hai….zara yeh to kar ke dikhaen
Students were confused to answer. It shows that they have little kn0wledge and grip over the topic. It also shows selective studies n limited interest. They wrote 0000 instead of 4017
posted @ 10:34 PM, ,
Economic Activity and Role of Chartered Accountants
Wednesday, October 21, 2009
Every human activity follows an Economic/Commercial pattern; if the Economic/Commercial pattern remains viable the human activity survives otherwise the human activity succumbs to times and falls. That is to say Economic/Commercial activity has to be honestly audited otherwise its viability diminishes and the activity moves towards its end. Running of countries is one of the largest human activities. The saying is true in this context as well. In running the activity honestly it depends how honestly the activity has been audited and how much deterrence the audit authorities have over the managers. It goes without saying here that the audit activity has to be honest. If the auditors themselves start misusing their deterrence for personal gains then nothing worse can happen to that human activity.
Chartered Accountants are at the very core of any country’s Economic/Commercial activities. Pakistan is rightly known to be one of the most corrupt countries in the world. USSR expired because its Economic/Commercial pattern had failed, because of corruption. Being corrupt, are we not on USSR’s path ! ! ! With this preview I would like to inform our worthy community of Chartered Accountants that if we failed in our duties the writing on the wall should be clear.
If ever anything adverse happens to Pakistan the direct responsibility shall rest with ACAP. The lawyers’ community has proved that Pakistan shall stand for the right. Now the buck is entirely with our Accountants. The cry of the time is perform your duties without any fear, favour or greed. There only lies the survival of your lovely Pakistan.
posted @ 9:27 PM, ,
- AFGHANISTAN--------- 6
- AUSTRALIA------------ 17
- AZERBAIJAN -----------1
- BAHAMAS --------------1
- BAHRAIN --------------66
- BANGLADESH ----------1
- BERMUDA --------------4
- CANADA --------------120
- CAYMAN ISLANDS -----1
- EGYPT -----------------2
- GERMANY -------------2
- INDONESIA ------------2
- IRAN -------------------3
- IRELAND -------------15
- ITALY -----------------1
- JAPAN -----------------1
- JORDAN--------------- 3
- KENYA ----------------2
- KUWAIT-------------- 21
- LEBANON------------- 1
- LUXEMBOURG-------- 2
- MALAYSIA ------------8
- MOROCCO ------------1
- NETHERLAND ---------2
- NIGERIA ---------------1
- OMAN ----------------17
- PHILIPPINES ---------1
- QATAR ---------------16
- ROMANIA ------------6
- SAUDI ARABIA ------200
- SINGAPORE ---------6
- SOUTH AFRICA ------2
- SUDAN ---------------1
- SWITZERLAND ------1
- TANZANIA -----------1
- TURKEY -------------1
- U.A.E. ---------------283
- USA -----------------107
- UK------------------ 167
- YEMEN --------------3
- PAKISTAN ---------3,612
Out of toal 4,708 members of ICAP 1,096 (23%) members are outside from Pakistan and doing Great Job.
posted @ 11:25 AM, ,
Financial Instruments: Replacement of IAS 39 Project
Monday, October 19, 2009
Classification and Measurement - phase 1
Interaction between the two classification conditions
Fair value option (FVO)
Reflecting changes in own credit risk for financial liabilities not measured at amortised cost
Accounting for embedded derivatives
Unquoted equity instruments: elimination of cost exception
Impairment - phase 2
Guidance for variable interest rates
Presentation and Disclosures
Impairment - interaction with other IFRSs (IAS 28 and IFRS 4)
Hedge Accounting - phase 3
Applying cash flow hedge accounting mechanics to a fair value
fair value measurement. Round tables will be held in North America, Asia and Europe. An audio recording of the round table discussions will be made available on the website shortly after each round table.
posted @ 2:27 PM, ,
Living in Turbulant Times Like This, Must Check This
Sunday, October 18, 2009
posted @ 5:52 PM, ,
ICAP Clarifies Its Role in the Tax Audit Function
Saturday, October 17, 2009
Mr. Masood expressed his surprise at the news item stating that FBR has directed ICAP to maintain independence while selecting the firms of auditors. He said that as per TAF developed by ICAP it is sole and exclusively authority of the FBR to select cases for audit and appoint firms of Chartered Accountants as auditors. Mr. Masood emphasized that ICAP will have no role or responsibility whatsoever in selection of cases or appointment of auditors. Further, under the TAF, FBR cannot direct ICAP for implementation of the said TAF.
Explaining further Mr. Masood said that ICAP has accepted the challenge of developing Tax Audit Framework for FBR as a national cause on the request of the Finance Minister who desired ICAP’s role and support in improving tax audit system. He said that ICAP as a premier national institution will continue to play it’s role for national interest. ICAP will hold workshops for its members to explain terms of TAF and provide them guidance on technical aspects of the proposed tax audit by its members. He however, made it clear that there will be a direct engagement contract between FBR and the CA firms to undertake audit assignments. ICAP will have no role in selection of cases, appointment of auditors or conducting of audit and reporting.
Mr. Saqib Masood said that this clarification is important to put the facts in correct perspective to avoid any confusion about the role of ICAP in the process.
posted @ 9:43 PM, ,
Mr. Justin West (ICAEW Representative) will be conducting Free Seminar in Karachi and Lahore on 23rd and 26th October, 2009 respectively on ICAEW Qualification in Pakistan and to answer students? unique ongoing questions including on changes in MoU with ICAP. The Chief Executive of Emile Woolf Pakistan (EWP), Mr. Mohammad Maqbool, FCA will also be available at Seminar to further clarify the study system approach for ICAEW Exams.
The Seminars will be conducted according to following Schedules:
Karachi: Friday 23rd October, 2009
Venue: ICAP Auditorium
Arrival of Guests: 03.15 pm
Presentations: 03.30 pm
Lahore: Monday 26th October, 2009
Venue: Royal Palm, Golf and Country Club
Arrival of Guests: 4:15 pm
Presentations: 4:30 pm
Hi-Tea: 06.00 pm
Please confirm your participation by registering your particulars here.
posted @ 10:57 AM, ,
Jobs in Descon Engineering Limited
Friday, October 16, 2009
Descon Engineering Limited is a well recognized multi-dimensional engineering and construction company operating in Pakistan and the Middle East. With over 350 million man-hours of construction work executed in industrial and infrastructure projects, Descon employs 20000 professionals and other personnel.
The services portfolio covers project management, engineering, procurement, construction, maintenance, and manufacturing of process equipment for the sectors of Oil & Gas, Chemical/Petrochemical, Power, Fertilizer, Cement, and Infrastructure.
posted @ 1:24 PM, ,
1. Tell me about yourself:
The most often asked question in interviews. You need to have a short statement prepared in your mind. Be careful that it does not sound rehearsed. Limit it to work-related items unless instructed otherwise. Talk about things you have done and jobs you have held that relate to the position you are interviewing for. Start with the item farthest back and work up to the present.
2. Why did you leave your last job?
Stay positive regardless of the circumstances. Never refer to a major problem with management and never speak ill of supervisors, co-workers or the organization. If you do, you will be the one looking bad. Keep smiling and talk about leaving for a positive reason such as an opportunity, a chance to do something special or other forward-looking reasons.
3. What experience do you have in this field?
Speak about specifics that relate to the position you are applying for. If you do not have specific experience, get as close as you can.
4. Do you consider yourself successful?
You should always answer yes and briefly explain why. A good explanation is that you have set goals, and you have met some and are on track to achieve the others.
5. What do co-workers say about you?
Be prepared with a quote or two from co-workers. Either a specific statement or a paraphrase will work. Jill Clark, a co-worker at Smith Company, always said I was the hardest workers she had ever known. It is as powerful as Jill having said it at the interview herself.
6. What do you know about this organization?
This question is one reason to do some research on the organization before the interview. Find out where they have been and where they are going. What are the current issues and who are the major players?
7. What have you done to improve your knowledge in the last year?
Try to include improvement activities that relate to the job. A wide variety of activities can be mentioned as positive self-improvement. Have some good ones handy to mention.
8. Are you applying for other jobs?
Be honest but do not spend a lot of time in this area. Keep the focus on this job and what you can do for this organization. Anything else is a distraction.
9. Why do you want to work for this organization?
This may take some thought and certainly, should be based on the research you have done on the organization. Sincerity is extremely important here and will easily be sensed. Relate it to your long-term career goals.
10. Do you know anyone who works for us?
Be aware of the policy on relatives working for the organization. This can affect your answer even though they asked about friends not relatives. Be careful to mention a friend only if they are well thought of.
11. What kind of salary do you need?
A loaded question. A nasty little game that you will probably lose if you answer first. So, do not answer it. Instead, say something like, That’s a tough question. Can you tell me the range for this position? In most cases, the interviewer, taken off guard, will tell you. If not, say that it can depend on the details of the job. Then give a wide range.
12. Are you a team player?
You are, of course, a team player. Be sure to have examples ready. Specifics that show you often perform for the good of the team rather than for yourself are good evidence of your team attitude. Do not brag,just say it in a matter-of-fact tone. This is a key point.
13. How long would you expect to work for us if hired?
Specifics here are not good. Something like this should work: I’d like it to be a long time. Or As long as we both feel I’m doing a good job.
14. Have you ever had to fire anyone? How did you feel about that?
This is serious. Do not make light of it or in any way seem like you like to fire people. At the same time, you will do it when it is the right thing to do. When it comes to the organization versus the individual who has created a harmful situation, you will protect the organization. Remember firing is not the same as layoff or reduction in force.
15. What is your philosophy towards work?
The interviewer is not looking for a long or flowery dissertation here. Do you have strong feelings that the job gets done? Yes. That’s the type of answer that works best here. Short and positive, showing a benefit to the organization.
16. If you had enough money to retire right now, would you?
Answer yes if you would. But since you need to work, this is the type of work you prefer. Do not say yes if you do not mean it.
17. Have you ever been asked to leave a position?
If you have not, say no. If you have, be honest, brief and avoid saying negative things about the people or organization involved.
18. Explain how you would be an asset to this organization
You should be anxious for this question. It gives you a chance to highlight your best points as they relate to the position being discussed. Give a little advance thought to this relationship.
19. Why should we hire you?
Point out how your assets meet what the organization needs. Do not mention any other candidates to make a comparison.
20. Tell me about a suggestion you have made
Have a good one ready. Be sure and use a suggestion that was accepted and was then considered successful. One related to the type of work applied for is a real plus.
21. What irritates you about co-workers?
This is a trap question. Think real hard but fail to come up with anything that irritates you. A short statement that you seem to get along with folks is great.
22. What is your greatest strength?
Numerous answers are good, just stay positive. A few good examples:Your ability to prioritize, Your problem-solving skills, Your ability to work under pressure, Your ability to focus on projects, Your professional expertise, Your leadership skills, Your positive attitude.
23. Tell me about your dream job.
Stay away from a specific job. You cannot win. If you say the job you are contending for is it, you strain credibility. If you say another job is it, you plant the suspicion that you will be dissatisfied with this position if hired. The best is to stay genetic and say something like: A job where I love the work, like the people, can contribute and can’t wait to get to work.
24. Why do you think you would do well at this job?
Give several reasons and include skills, experience and interest.
25. What are you looking for in a job?
See answer # 23
26. What kind of person would you refuse to work with?
27. What is more important to you: the money or the work?
Money is always important, but the work is the most important. There is no better answer.
28. What would your previous supervisor say your strongest point is?
There are numerous good possibilities: Loyalty, Energy, Positive attitude, Leadership, Team player, Expertise,Initiative, Patience, Hard work, Creativity, Problem solver
29. Tell me about a problem you had with a supervisor
Biggest trap of all. This is a test to see if you will speak ill of your boss. If you fall for it and tell about a problem with a former boss, you may well below the interview right there. Stay positive and develop a poor memory about any trouble with a supervisor.
30. What has disappointed you about a job?
Don’t get trivial or negative. Safe areas are few but can include: Not enough of a challenge. You were laid off in a reduction Company did not win a contract, which would have given you more responsibility.
31. Tell me about your ability to work under pressure.
You may say that you thrive under certain types of pressure. Give an example that relates to the type of position applied for.
32. Do your skills match this job or another job more closely?
Probably this one. Do not give fuel to the suspicion that you may want another job more than this one.
33. What motivates you to do your best on the job?
This is a personal trait that only you can say, but good examples are: Challenge, Achievement, Recognition
34. Are you willing to work overtime? Nights? Weekends?
This is up to you. Be totally honest.
35. How would you know you were successful on this job?
Several ways are good measures: You set high standards for yourself and meet them. Your outcomes are a success.Your boss tell you that you are successful
36. Would you be willing to relocate if required?
You should be clear on this with your family prior to the interview if you think there is a chance it may come up. Do not say yes just to get the job if the real answer is no. This can create a lot of problems later on in your career. Be honest at this point and save yourself future grief.
37. Are you willing to put the interests of the organization ahead ofyour own?
This is a straight loyalty and dedication question. Do not worry about the deep ethical and philosophical implications. Just say yes.
38. Describe your management style.
Try to avoid labels. Some of the more common labels, like progressive, salesman or consensus, can have several meanings or descriptions depending on which management expert you listen to. The situational style is safe, because it says you will manage according to the situation, instead of one size fits all.
39. What have you learned from mistakes on the job?
Here you have to come up with something or you strain credibility. Make it small, well intentioned mistake with a positive lesson learned. An example would be working too far ahead of colleagues on a project and thus throwing coordination off.
40. Do you have any blind spots?
Trick question. If you know about blind spots, they are no longer blind spots. Do not reveal any personal areas of concern here. Let them do their own discovery on your bad points. Do not hand it to them.
41. If you were hiring a person for this job, what would you look for?
Be careful to mention traits that are needed and that you have.
42. Do you think you are overqualified for this position?
Regardless of your qualifications, state that you are very well qualified for the position.
43. How do you propose to compensate for your lack of experience?
First, if you have experience that the interviewer does not know about, bring that up: Then, point out (if true) that you are a hard working quick learner.
44. What qualities do you look for in a boss?
Be generic and positive. Safe qualities are knowledgeable, a sense of humor, fair, loyal to subordinates and holder of high standards. All bosses think they have these traits.
45. Tell me about a time when you helped resolve a dispute betweenothers.
Pick a specific incident. Concentrate on your problem solving technique and not the dispute you settled.
46. What position do you prefer on a team working on a project?
Be honest. If you are comfortable in different roles, point that out.
47. Describe your work ethic.
Emphasize benefits to the organization. Things like, determination to get the job done and work hard but enjoy your work are good.
48. What has been your biggest professional disappointment?
Be sure that you refer to something that was beyond your control. Show acceptance and no negative feelings.
49. Tell me about the most fun you have had on the job.
Talk about having fun by accomplishing something for the organization.
50. Do you have any questions for me?
Always have some questions prepared. Questions prepared where you will be an asset to the organization are good. How soon will I be able to be productive? And what type of projects will I be able to assist on? are examples.
(Excerpted from the book The Accelerated Job Search by Wayne D. Ford, Ph.D,published by The Management Advantage, Inc.)
posted @ 11:54 AM, ,
Most Common CV Mistakes
Thursday, October 15, 2009
Poor spelling and grammar
By far the most common mistake and yet the most important thing to get right to make a good first impression. Get your CV checked and checked again by friends to ensure it’s perfect.
The average recruiter spends less than 60 seconds scanning a CV, so keep it to two pages or three at most for those in senior positions.
Using fancy formatting
Remember what looks great on your PC screen might not display well elsewhere so keep formatting to a minimum. Recruitment consultancies often use their own templates, so make sure your CV is easy to copy and paste.
Starting at the beginning
Recruiters want to know what you’ve done recently, so list your work experience in reverse chronological order and place your educational achievements after your work experience.
Great project manager, good communicator, dedicated employee – all great skills but worthless unless you demonstrate what you achieved. Ensure everything you say is quantified by specifying the actions you took and the results and/or benefits.
Your CV should read as a continuous, chronological flow of activities, so make sure you explain any gaps such as travelling, maternity leave, sabbaticals etc.
Trying to cover things up
In the current economy, stating that you were made redundant doesn’t reflect badly on you. And if you don’t include it the reader might assume you were fired.
Including irrelevant information
If you’re unsure whether to include something, ask yourself: does this impact my ability to do the job? If no, leave it off. This includes: age, gender, marital and
parental status and religion.
Too much about your interests and hobbies
Although your hobbies and activities may be really interesting, unless they’re relevant to the role or demonstrate a particular skill, keep this section to a minimum.
Having one version of your CV
This is one of the best-kept recruitment secrets: every role is different, so tailor your CV to that role. Go through the job spec and emphasise your relevant skills and experience on your tailored CV.
posted @ 12:52 PM, ,
Companies other than banking companies are liable to pay advance income tax for the current year in four installments.
Calculation Formula: (A x B/C)- D
A = is the taxpayer's turnover for the quarter
B = is the tax assessed to the taxpayer for the latest tax year
C = is the taxpayer's turnover for the latest tax year
D = is tax paid in the quarter for which tax credit is allowed under section 168, other than tax deducted under section 155
- Tax liability under section 113 shall also be taken into account while working out payment of advance tax.
- In the absence of last assessed income or declared turnover, tax payable shall be estimated on the basis of quarterly current turnover.
- Adjustment for the tax already paid may be made.
Labels: advance income tax
posted @ 10:07 AM, ,
Islamic Banking Products and Services
Wednesday, October 14, 2009
A comprehensive range of Islamic Banking products and services is being offered, in order to meet customer's demand of Shariah Compliant Banking, in the following areas:
Corporate /SME Banking
Islamic Banking products have to be approved by the Bank's Shariah Advisor as instructed vide IBD Circular 2 of 2008. As per Shariah requirements, funds and products of Islamic Banking are managed separately from the Conventional Banking side. All funds obtained, invested and shared in Halal modes & investments, under supervision of the Shariah Advisor.
In order to ensure compliance with minimum Shariah standards by the banks conducting Islamic banking in Pakistan, the Commission for Transformation of Financial System set up in the SBP approved essentials of Islamic modes of financing.
These are model agreements which have been approved in line with Supreme Court Judgement on Riba. These include Musharaka, Mudaraba, Murabaha, Musawama, Leasing, Salam and Istisna. These model agreements are expected to facilitate the existing Islamic banking sector in creating awareness about Islamic banking products and to develop such products. These model agreements, however, can be modified, in conformity to the products designed by the banks conducting Islamic banking business. But to bring any kind of change in these model agreements, banks conducting Islamic banking operations, will seek approval of the Shariah Board of Islamic Commercial Banks or Shariah Adviser of banks having Islamic banking branches, ensuring that such changes are consistent with the principles of Shariah.
The segments covered by the industry through various Shariah compliant modes such as Murabaha, Mudaraba, Musharaka, Ijarah, Diminishing Musharaka, Salam, Istisna, Wakala and Islamic Export Refinance etc. include
• Corporate / Commercial,
• Commodity Financing,
• SME sector,
• Treasury & Financial Institutions.
Also with the increased issuance of Sukuk by corporates investments of IBIs in these Shariah compliant instruments is on the rise.
On the Liability side, Islamic Banking Industry offers various Shariah compliant deposit schemes that are available for customers to invest their funds. These include
• Current Accounts,
• Basic Banking Account,
• Savings Accounts,
• Term Deposits of various maturities, and
• Certificates of Investment etc.
Current Account is mostly being offered on Qard basis whereas Mudaraba is the preferred mode used by Islamic banks for offering savings accounts, term deposits & certificates of investment.
Some full fledged banks are also offering investment banking products and services including Sukuk Arrangement, Financial Advisory, Private Placement, Syndication, Trusteeship, Underwriting, Structured Finance, Listing on Capital Markets, Project Financing, Mergers & Acquisitions etc. Further, a variety of other ancillary services are also being offered in a Shariah compliant manner such as
• Bonds & Guarantees,
• Letters of Credit
• Remittances ( local & International),
• Online banking,
• ATM/debit card ( including Visa),
• Safe deposit lockers and
• Utility bill payments etc.
• Collection of export bills, assignment of export / local bills
• Inter-Bank funds transfer facility through ATM,
• E-Statement facility,
• Phone Banking and 24 /7 Call Centre service.
• Deposit accepting ATMs
Labels: Islamic Finance
posted @ 10:34 AM, ,
The proceeding of meeting will commence with the recitation of Holy Quran and will have following agenda.
- Confirmation of minutes of 47th Annual General Meeting.
- Consideration and adoption of the Council and Anuual Audited Accounts for the year ended 30-06-2009.
- Appointment for the Auditors for the year ended 30-06-2010
- Any other business with the permissio of Chair.
posted @ 12:44 AM, ,
Hedging Technique - Forward Contracts
Tuesday, October 13, 2009
I want to ask regarding hedging techniques, if a company import raw material and pay their debt after two months from receiving of goods by this means the company may bear exchange loss due to price fluctuation risk, In my opinion this... type of risk can be mitigate through hedging techniques such as forward contacts. Please let me know that forward contracts are permissible now a days?
Comment: No, These days State Bank of Pakistan does not allow to book forward rates against imports as this transaction was intentially used for forged transaction.
posted @ 12:41 PM, ,
Jobs in Petroleum Sector
Monday, October 12, 2009
Director Finance / Chief Financial Officer
Qualification: Chartered Accountant (FCA)
Experience: 15 years
Chief Internal Auditor
Qualification: Chartered Accountant / Certified Internal Auditor / MBA Finance
Experience: 05 years
To apply for the above jobs send your CVs here latest by 26-10-09
posted @ 10:44 AM, ,
Last Date to File Income Tax Returns
Saturday, October 10, 2009
Who has to file return?
- Business individuals and AOPs
- Companies where accounts are closed on 30-12-2008
- Salaried individuals having income other than salary
- Employees claiming refund
- Those who availed investment tax scheme 2008
- Owners of immovable property (with land area of 250 sq. yards or more) or owner of a flat in specified areas
- Non-corporate cases with property income
- Non-corporate taxpayers having business income and having income falling under PTR
E-Filing of Income Tax Returns
- Taxpayers registered for Sales Tax
- Association of Persons - AOPs
- Salaried individuals having income of Rs.500,000/-
- Claimant of refunds
- Optional for other non-corporate Taxpayers
Last Date for Filing of IT Returns
- Individuals, AOPs (IT-2) = 20th October 2009
- Companies where accounts closed on 31-12-2008 (IT-1) = 20th October 2009
- Companies where accounts closed on 30-06-2009 (IT-1) = 31th December 2009
Remember: Filing of Wealth Statement along with the returns is mandatory in case of individuals with income of Rs.500,000/- or more.
posted @ 1:08 PM, ,
- 1961 - Born on August 04 in Hawaii
- 1983 - Studies Political Science at Columbia University
- 1985 - Social Worker in Chicago
- 1991 - Studies Law at Harvard, Elected first Afro-American president of the Harvard Law Review
- 1992 to 1995 - Civil Rights lawyer and lecturer in law at Chicago University
- 1996 - Elected to Illinois state senate
- 2004 - Elected to US Senate after inspirational speeck to Democratic Convention
- Feb 2007 - Announces "Improbable quest" to become president
- Nov 04, 2008 - Wins US Presidential election with 53% of the vote
- 2009 - Starts neclear arms cuts talks with Russia, Kick starts Middleast Peace Process, Vows to close Guantanamo jail and take action on climate change
- Oct 09 2009 - Wins Nobel Peace Prize for "extra ordinary" efforts to strengthen international diplomacy.
My Question to all is that would he deserve to get this Nobel Peace Prize
Labels: Barack Obama
posted @ 11:10 AM, ,
Current Treasury Rates
Thursday, October 8, 2009
Click to enlarge
posted @ 10:30 PM, ,
The Guideline for Accounting and Financial Reporting by Non-Governmental/Not-for-Profit Organisations (NGOs/NPOs) has been developed in order to promote transparency, accountability and to develop, disseminate and promote implementation of better accounting standards and best practices for NGOs/NPOs. In developing this Guideline, the Institute has considered the ‘SAFA Standard and Guideline for NPOs (including NGOs)’.
The specific objectives of developing this Guideline also include:
- development of a high quality, understandable and enforceable Guideline suitable for NGOs/NPOs in Pakistan,
- reduction of the financial reporting burden on NGOs/NPOs meeting the needs of the various users of the NGOs/NPOs financial statements.
The following aspects have been considered in developing the Guideline:
- it shall be recommendatory for NGOs/NPOs particularly for those for whom no accounting framework has been prescribed;
- it shall not be applicable on NGOs/NPOs engaged in Microfinance;
- ensure that it is inline with the International Accounting Standards/ International Financial Reporting Standards;
- recognition of transactions in a manner that would be readily understood by the various user groups;
- corresponding to the understanding of the transaction provision of the least cumbersome method of achieving the desired accounting treatment or disclosure for a NGOs/NPOs that is not complex provision of guidance;
- that is expected to be widely relevant to the transactions of NGOs/NPOs which are written in terms that can be understood by such entities ensuring that the measurement methods prescribed in the Guideline are reasonably practical for NGOs/NPOs.
Visit here to see all details of Guidelines
posted @ 1:05 PM, ,
- Membership: 186 Countries
- Head Quarter: Washington DC
- Staff: 2,478 from 143 countries
- Total Quota committed by members: US$325 billion
- Additional pledged: US$500 billion
- Loans committed: US$175.5 billion (September, 2009)
posted @ 9:39 AM, ,
One of the Ways of Using Extra Money
Wednesday, October 7, 2009
posted @ 1:37 PM, ,
Even before going ahead to print notes and mint coins and deciding about their various denominations and values (which offcourse be in numbers or numerals whatelse?) and also to measure in similar way all kinds of existing measurable goods, assets and services being produced or likely to be produced in near future in an economy and then assign them appropriate and reasonable values and prices (and mind you certain things either tangible or intangible cant be priced or even valued like say human beings although their capabilities and skills can be asigned certain values) and then venture into introducing the real money notes and coins with complete backing and enforceability of state and its machinery and make it a legal tender nothing else...now tell me where does the debt came in all this?
And by the way you are right about 1997 east asian crisis and about the role played by influential players in manipulating the markets....many other scndals too prove that....so the current system indeed is fragile, vulnerable and prone to abuse but whats the solution....we cant move on another system unless it is readily available and cn be switched to easily and it does not even seem to be the case...and to build a new sound system requires much gigantic effort and time.
And yeah fee is a misnomer as under its criteria market forces did decided about the bankruptcy of many giants and institions but they were all bailed out using tax payers monies....so its a fallacious system but still capitalisitc economy in its other aspects is ruling the roost....and by the way you may be right about Fed chairman speeches and statements....like so many other camoflauged economic jargon but is it really the case although one may suspect it....for instance take the interest rates hikes or maintenance or lowering by Fed or any central bank....now any such anticipated or actual decision does affects the markets as cost of borrowing funds would be affected and so it naturally have an effect whever a fed chairman says something to that effect....its a long discussion ...lets take it up in further parts in a coherent way.
Labels: Economy and Business
posted @ 11:40 AM, ,
Economic and Business Review from 28-09-09 to 03-10-09
Tuesday, October 6, 2009
- THE State Bank of Pakistan injects over Rs60.2 billion into the banking system to ease off the liquidity crunch in the market.
- THE State Bank of Pakistan decides to keep the key interest rate unchanged at 13 per cent.
- THE US Congress approves tripling non-military aid to Pakistan to help fight extremism in the country. The bill, already approved by the US Senate, now goes to President Barack Obama for final approval.
- THE Supreme Court directs the authorities concerned to ensure the sale of sugar at Rs40 per kg until a commission set up by it, presents its report on the issue.
- THE Pakistan Steel Mills Corporation suspends production due to shortage of raw material and other technical reasons, disclose sources.
- ITALIAN Prime Minister Silvo Berlusconi announces to lead a team of prominent businessmen and entrepreneurs to Pakistan this year to explore possibilities of investment in key areas of economy there.
- MYBANK announces sale of 59.34 per cent shares to a Mauritius-based investment firm. The same firm has recently also acquired Arif Habib Bank Ltd.
- THE rate of return on National Savings Scheme shall remain unchanged, announces the federal government.
- FISH exports to Malaysia during the first six months of the current fiscal year 200910, gained a tremendous boost, a data on trade between Pakistan and Malaysia reveals.
- THE government increases power tariff by six per cent effective October 1, after Prime Minister Yousuf Raza Gilani clears a summary of the Ministry of Water and Power. Power tariff is likely to be raised by around 40 per cent in the current financial year if the government keeps its commitment made to the IMF.
- THE government reduces prices of various petroleum products up to Rs4.80 per litre in line with the reduction in global oil prices effective October 1.
- PAKISTAN in an open auction grants licences to successful bidders for exploration of oil and gas in 41 blocks, the largest-ever offloading of exploration blocks in the country’s history.
- THE Karachi Stock Exchange carries out re-composition exercise of KSE-100 index as a result nine companies are taken off the 100companies list and other nine take their place in the list.
- THE Economic Coordination Committee of the Cabinet approves import of 0.6 million tons of urea through the Trading Corporation of Pakistan, with the insistence of ministry of industries.
posted @ 11:57 AM, ,
Who Should Have a Blog?
Saturday, October 3, 2009
For marketers, public relations professionals, writers and all those who need to reach out with their ideas and or products and services, blogs are a must; easier, cheaper, convenient. But think outside the box and you will find people have experiences to share, stories to tell and put the things on record. They all need a blog.
Other day I was suggesting to diplomat to have a blog. I remember getting a lot of publicity stuff from different embassies in my school years. Almost all embassies and consulates have publications to tell their governments’ policies and influence the public in whatever way they can. In the age when presidents of the states (Presidents of Iran and USA are known to have their own blogs), I argued that blogs should be a must for any diplomat. Anyone in foreign department listening?
Let me conclude the post on this statement; those who can’t have a blog should at least have a printing press.
posted @ 1:47 PM, ,
Industry: Fast Moving Consumer Goods (FMCG)
Job Type: Full Time ( firstshift )
Job Location: Karachi
Age: 24 - 28 Years
Education: Bachelor's Degree - Master's Degree
Degree Title: MBA (Mkt)
Career Level: Entry Level
Required Experience: 2 Years - 3 Years(Sales Eeperience)
Require Travel: 75%
To see more jobs and to apply visit here
posted @ 12:17 PM, ,
ICAEW - Paper Pass Rates of Advanced Module
Friday, October 2, 2009
The paper pass rates for the Advanced Stage Examinations of last attempt 2009 are shown below. Paper Pass Rates
- Business Reporting = Total number of entries 2154, Passing Rate 79.6%
- Business Change = Total number of entries 2149, Passing Rate 82.1%
- Case Study = Total number of entries 1660, Passing Rate 77.7%
posted @ 2:53 PM, ,