Financial Risk Manager

Ways of Financial and Risk Management

ICAP Final Examinations Winter 2010 Result
Monday, January 31, 2011

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The Council of  the Institute of Chartered Accountants of Pakistan is pleased to declare the following results pertaining to the Final Examinations held in December 2010. Newly qualified Chartered Accountants are
  1. MUHAMMAD KAMRAN ASLAM
  2. ABDUL MUKEET IQBAL
  3. MUHAMMAD ASAD ULLAH
  4. RASHID SHUJA BUTT
  5. ASHFAQ
  6. MUHAMMAD FARAZ
  7. MUHAMMAD ABBAS HUSSAIN
  8. FARHAN AHMED MEMON
  9. SAAD BASHIR
  10. MUHAMMAD RAZA AHMED
  11. QAZI AMIR
  12. MANSOOR YAQOOB
  13. KAMRAN ABBAS
  14. MUHAMMAD KASHIF SAEED
  15. AHSEN ALI
  16. ASIF RASHID
  17. KAZI ZEESHAN AKBAR
  18. SYED ZULFIQUAR HUSSAIN KAZ
  19. ABDUL BASEER
  20. MUHAMMAD ZULFIQAR AHMED
  21. SALMAN MOHI UD DIN
  22. KHURRAM MAHMOOD
  23. UMAR HAYAT
  24. KAMRAN ANJUM
  25. MUNAWAR HUSSAIN
  26. MUHAMMAD ISHAQUE ABRO
  27. MUHAMMAD ALI UPPAL
  28. ZEESHAN KHAWAR
  29. AHMED ALI EHSAN
  30. KHALID JAVED KHAN
  31. USMAN KHALID QAZI
  32. TARIQ RASHID AHMAD
  33. SYED JUNAID ALI
  34. REZA ALI
  35. ADIL SAEED KHAN
  36. MUHAMMAD JAMAL HAFIZ
  37. MUHAMMAD ABDUL BASIT
  38. KASHIF ZAMAN
  39. HIZBULLAH KHAN
  40. TAHSEEN ANJUM
  41. MASUMA AMIR ALI
  42. OVAIS ANWER SHAMSI
  43. ANEEL KUMAR WANKWANI
  44. QUTBUDDIN
  45. ADEEL ARIF
  46. FURQAN AHMED
  47. ZEESHAN HAIDER
  48. MUHAMMAD FURQAN AMIN
  49. ASMA SHABBIR
  50. INAM UL HAQ
  51. MUHAMMAD NAEEM
  52. MUHAMMAD BILAL AHMED KHAN
  53. MATLOOB HUSSAIN
  54. FARMAN ALI MEMON
  55. SYED FAKHAR IMAM ZAIDI
  56. USMAN MAHMOOD SANDHU
  57. ASIF NAVEED
  58. AHMED IRFAN MALIK
  59. AWAIS SHAHID
  60. ALI NAWAZ QADRI
  61. BILAL AZHAR
  62. MUHAMMAD UMAIR
  63. FUAD ZAKRIA
  64. ZEESHAN MIRZA
  65. MUHAMMAD FARHAN QURESHI
  66. SAJID RASOOL SAGHAR
  67. RASHID MAHMOOD
  68. SARFRAZ ALAM
  69. RIZWAN HAROON LAKHANI
  70. MUHAMMAD SOHAIB KHAN
  71. GHULAM MOHIUDDIN
  72. SAQIB RIAZ
  73. SAULAT ALI BAIG
  74. FAROOQ BASHIR
  75. MUHAMMAD USMAN
  76. SAHRISH NAWAZ
  77. SAADIA PERVAIZ
  78. MUHAMMAD ALI
  79. AHMAD ARSHAD AMIN
  80. MUBASSHAR RASOOL
  81. M. ARSLAN SHAUKAT CHEEMA
  82. MUHAMMAD HUSNAIN MUNAWA
  83. MUHAMMAD OVAIS KHAN
  84. ASAD JABBAR
  85. MUHAMMAD ALI NAEEM
  86. MEHREEN MUKHTAR
  87. RAHAILA IZZET ALEEM
  88. NOUREEN AL AMIN
  89. KANEEZ FATIMA RAZA
  90. NIDA PYAR ALI
  91. MUHAMMAD LAEEQUE
  92. MUBASHAR ALI SHAHANI
  93. MUHAMMAD HAROON NAREJO
  94. GHULAM MURTAZA AWAN
  95. WAQAS AHMED
  96. HAFIZ MOAZZAM HUSSAIN
  97. NAFE WAHEED
  98. MUHAMMAD WAQAS ASHRAF
  99. SYEDA SANA SULTANA
  100. DANIYALA
  101. ZAID IQBAL
  102. MIAN BILAL ZIA
  103. MUHAMMAD KHUBAIB
  104. MUHAMMAD ADNAN
  105. KAMRAN RASOOL
  106. HINA SHAMSI
  107. NOREEN YUSUF
  108. MIAN WAQAR UL HUSSAN
  109. KHURRAM SHAHZAD
  110. SYED HAMZA GILLANI
  111. ALI TARIQ
  112. SAAD BIN ABDULLAH
  113. SANA QUADRI
  114. OMAIR AHMED
  115. FAHAD SULTAN
  116. MUHAMMAD ALI BAIG
  117. AANUS KHALILI
  118. MUHAMMAD ADEEL
  119. RAJESH KUMAR PINJANI
  120. MURAD
  121. ALI NAQI
  122. SYED MIRWAIS KHAN
  123. JAVERIA ZAMAN
  124. SYED MUHAMMAD IMRAN
  125. IMRAN YOUNUS KHAN
  126. NEELUM WASIF
  127. SHOAIB SULTAN
  128. SADIA MOHAMMED
  129. SYED SHARIQ HUSSAIN
  130. ASAD ANWAR
  131. MALIK KHAYYAM OMER
  132. SYED ASAD ALI
  133. MURSLEEN IQBAL
  134. MUHAMMAD NAEEM
  135. AHSIN TARIQ
  136. KHUBAIB AKRAM MUGHAL
  137. FURQAN SEITH MALL
  138. FAIZAN IRSHAD
  139. MUHAMMAD MEHMOOD BIKIYA
  140. RAHEEL
  141. JUNAID AZIZ
  142. MUHAMMAD UMAIR
  143. ABEERA
  144. SAAD ALI
  145. SHERDIL WAQAR
  146. FAIZAN HAMID
  147. USAMA BIN SOHAIL
  148. ADEEL ANZAR
  149. SARAH KAMAL
  150. JEHANZEB AHMED
  151. MURTAZA ALI KHAN
  152. WAQAS HANIF
  153. MUHAMMAD QASIM
  154. SAMIR MUHAMMAD HANIF
  155. MUHAMMAD HUSNAIN KHORASA
  156. ZAHRA JAVED KANCHWALA
  157. HAMEED WAZIR ALI
  158. MUHAMMAD HANI LAKHANI
  159. AWAIS-UR-REHMAN
  160. NABEEL UDDIN AHMED
  161. MOHAMMAD SHAN UL HAQ
  162. HARIS HAFEEZ
  163. TAIMOOR HAYAT
  164. IRUM SARDAR
  165. MUSTAFA KARIMI
  166. VINEET KUMAR
  167. UMAR SHAHZAD
  168. ARSALAN ANJUM
  169. KASHIF KHAN
  170. MUHAMMAD NAVEED AKRAM
  171. MUHAMMAD HAMMAD BHOJANI
  172. FARHAN PATEL
  173. ALI MANSOOR
  174. ALI MUHAMMAD
  175. SANDESH KUMAR BAJAJ
  176. ARUN DHINGRA
  177. MAIMOONA RAFFAT
  178. ADNAN NOORALLAH VELJEE
  179. FAISAL IQBAL
  180. HASSAN AHMED TARIQ
  181. HATIM NOOR UDDIN
  182. ANUM ANWAR
  183. PEER MUHAMMAD
  184. MUHAMMAD MONEM QASMI
  185. SYED MUHAMMAD ANAS QADRIE
  186. NADIA WAZIR ALI
  187. NIDA HASHMI
  188. HASHAM ALI BABER
  189. HAMZA KHAN
  190. ZEESHAN MEHMOOD
  191. MOHAMMAD MUZAMMIL HAYAT
  192. SAAD MASOOD
  193. UROOJ NESAR
  194. SARA JAMALI
  195. AYESHA ARIF
  196. SIDRA JUNAID
  197. KARIM MOHAMMED IQBAL CHAG
  198. ANITA CHANDNANI
  199. AMMAR IQBAL MEMON
  200. SYED BILAL ASGHAR
  201. RAMIZ ALI
  202. ABDUL QADIR KHAN
  203. MUHAMMAD SHAKEEL ANWAR
  204. ZAIN KHALIL AHMED
  205. AYESHA ARIF BAWANY
  206. ANUM MOHSIN
  207. AHSAN RASHEED
  208. HANIYA NAJAM BUTT
  209. SHAZIA PARVEEN
  210. MUHAMMAD USAID
  211. ARSALAN AHMED
  212. ALI HAMMAD BIN JABBAR
  213. SAAD HASSAN QURESHI
  214. MUHAMMAD AHMED
  215. USMAN ALI
  216. FARHAN HAIDER
  217. MOHAMMAD BIN SALEEM
  218. MUHAMMAD HASNAIN SIKANDER
  219. MALIK AZEEM MAQBOOL

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posted @ 2:48 PM, ,

Economic and Business Updates - From 17th to 23rd January, 2011
Friday, January 28, 2011

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  • The country’s current account balance becomes positive and registers a surplus of $26 million in the first half of the fiscal 2010-11 primarily driven by massive decline in trade and services deficit and high foreign inflows.

  • The private sector improves its borrowing record in the first half of the current fiscal year, but banks massive investment in treasury bills show that the advances are much below the market requirement.

  • The Asian Development Bank announces to lend up to $100 million to a privately owned gas-fired power plant in Pakistan to help address the country’s energy crisis.

  • The government is facing serious financial crises and is not in a position to give any industrial relief package, says Chairman Federal Board of Revenue.

  • The Sindh government approaches the federal government for a new constitutional amendment authorising the province to collect royalty on oil and gas.

  • A 150 megawatt wind power project will be set up by a United States power firm AES at Gharo, Sindh, for which the water and power ministry and USAID jointly arrange equity and funding.

  • The import bill of eatables witnesses a substantial growth of 75 per cent during the first half of the current fiscal year threatening food sovereignty of the country.

  • Textile and clothing exports witness a robust growth of 25.79 per cent in the first half of the current fiscal year over the corresponding period last year on the back of double digit growth in exports of value added products.

  • The Punjab Food Department decides to export 0.8 million tons of wheat from its six million tons stock.

  • The unusual flow of phutti during the third and last picking of the current season is proving a boon for the country, which badly needs cotton to meet a wide gap between demand and supply.

  • Annual sales at the Utility Stores Corporation jumps from Rs2.5 billion some two years back to Rs60 billion in 2010. 

  • The sponsors of Arif Habib Investment Ltd and the MCB Asset Management Company Ltd sign the shareholders agreement for the proposed merger between the two entities.

  • The existing structure of the Federal Board of Revenue remains in violation of the Constitution and must be revamped, says federal tax ombudsman.

  • The State Bank of Pakistan includes the glass manufacturing industry producing exportable goods for financing under the Long Term Financing Facility.

  • The Pakistan Cotton Ginners Association has stongly protest against levy of 3.5 per cent withholding tax on purchase of raw material from the middleman.

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posted @ 10:31 AM, ,

Austin Roofing

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Damaged roofs can cause serious damage to buildings and people and material in those buildings. That is why it is very important to take good care while any repair and maintenance of the roofs. One of the most important factors is to find a qualified roofers who have enough experience and requisite know how to do the job right and leave you living under a secure roof when they finish. I suggest you carry out your personal research before you make an informed decision to engage a roofer.

Thanks to Austin Roofing which is a certified roofing and registered general contracting company offering their clients more than a decade of experience. They take great pride in outperforming their competition in quality of service, value and customer satisfaction. They’ve been recognized as a GAF/ELK Certified roofing installer and earned an “A-rating” with the Better Business Bureau.

posted @ 10:09 AM, ,

General, Money Market and Forex Updates - 25-01-2011
Wednesday, January 26, 2011

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General Updates
  • Indonesian President Susilo Bambang Yudhoyono hoped to help secure lucrative investment deals worth $15 billion on a trip to India this week. “The investment value is $15 billion, which includes cooperation in infrastructure, manufacturing, natural resources and services.
  • Pakistan and Japan on Friday signed an agreement under which Japan would provide a soft loan of US $ 233 million for development projects in Pakistan. Under the arrangement, Japan will provide a soft loan of US $ 233 million of which $60 million and $173 million would be for budgetary support and the Khyber Pakhtunkhwa Rural Road Project respectively. This support is out of a total of $500 million pledged by Japan during the Pakistan Development Forum 2010.
  • The World Bank has approved a $250 million loan and a $35 million grant for Pakistan to help vulnerable communities in areas rocked by conflict. The loan announced Thursday aims to bolster Pakistan’s recovery efforts in the Khyber Pakhtunkhwa (KP) province and Federally Administered Tribal Areas (Fata).
Money Market Updates
  • Money market Interbank opened at 13.00/25 closed at 13.90 with a high of 13.90 and low of 13.00. Due to the liquidity crunch in the market the rate could not go down today due to which market had to stay near the upper limit of the discount rate although it did not touch the floor.
  • The State Bank of Pakistan (SBP) continued injecting liquidity into the money market that, analysts believe, is faced with liquidity crunch due to the rupee blockade as non-performing loans (NPL) mount and excessive government borrowing from the scheduled banks takes a toll. The state bank, in its fifth reverse repo open market operation of the month in the Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds, injected some Rs 8.0 billion into the banking system on Saturday. The Saturday’s auction was preceded by four others conducted by the central bank on the 6th, 15th, 17th and 21st of this month to inject a sum of over Rs 92.35 billion into the inter-bank market in the short span of 16 days. One major reason of this injection in the market is the non performing loan increase in the credit market which has cause a big liquidity crunch.
Forex Updates
  • The monthly average of remittances for the July-December 2010 period comes out to $881.90 million as compared to $755.04 million during the same corresponding period of the last fiscal year, registering an increase of 16.80 percent.
  • The country’s trade deficit went up by over 18 per cent in the first half (July-December) of current fiscal year 2010-11 against the corresponding period of the last year, as it was recorded at $ 8.150 billion against $ 6.895 billion in the same period of 2009-10.

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posted @ 1:13 PM, ,

Witholding Tax On Purchase of Agri Produce
Wednesday, January 19, 2011

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Federal Board of Revenue (FBR) has clarified news reports published in a section of the press recently regarding the exemption of 3.5% withholding tax on purchase of agricultural produce, withdrawn through issuance of Board’s SRO 1161(I)/2010 Dated 31st December 2010. The issue needs clarification for the facilitation of general public, as follows:

i) Section 41 of the Income Tax Ordinance 2001 provides exemption to ‘agricultural income’ on sale/supply of agricultural produce by a cultivator/grower. Similar exemption was also available in the Repealed Income Tax Ordinance 1979. Earlier through Clause (v) of Board’s SRO 586(I)/91 Dated 30th June 1991 persons receiving payments from a company or an Association of Persons (AOP) having turnover of fifty million rupees or above exclusively for the supply of agricultural produce which has not been subjected to any process other than that which is ordinarily performed to render such produce fit to be taken to market, was exempted from deduction of withholding tax @ 3.5%

ii) Through Finance Act 2010, the definition of ‘prescribed persons’ was amended and “an individual having turnover of Rs.50 million rupees or above” was added in the list of withholding agents, to deduct withholding tax on sales/supplies [section 153(1)(a) of the Income Tax Ordinance 2001];

iii) Afterwards, Board had received various representations requesting to include “an individual having turnover of Rs.50 million rupees or above” in clause (v) of SRO 586(I)/91 of 30th June 1991;

iv) SRO 1161(I)/2010 Dated 31st December 2010 was issued with approval of competent authority, wherein following amendments were made in clause(v) of SRO 586:




It is therefore clarified that exemption of withholding tax on sale / supply of agricultural produce by a grower / cultivator is still intact, and SRO 1161(I)/2010 Dated 31st December 2010 has aligned the whole situation in line with the exemption on agricultural income by a grower, as provided in section 41 of the Income Tax Ordinance 2001.

posted @ 11:08 AM, ,

Canal Boat Holidays
Tuesday, January 18, 2011

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Canal boat holidays are the ideal way to see the marvellous waterways of Britain. Our canal boat holidays are located in some of the most staggering and stunning region of the UK, from the picturesque Norfolk Broads to the Scottish Lochs and canals of England. Hoseasons are leaders in providing canal boat holidays and as such have can cater for your needs with the perfect canal boat.

There is no better way to discover the hidden charms of their beautiful landscapes than on a canal boat holidays in the UK. You'll enjoy the freedom that canal boats offer as you drift dreamily through non spoilt countryside, perhaps stopping off to enjoy a meal at a waterside pub. There are many canal boating routes to choose from, each with its own special delights and all offering a wonderful boating holiday. And because Hoseasons are the leaders in canal boat hire, you're bound to find the boating holiday to suit you.

posted @ 10:12 AM, ,

Web Hosting Rating
Monday, January 17, 2011

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The Internet is not only changing our outlook to life and work but is also going to change male female ratio in workforce giving female population more choices to work. But what has female work choices to do with geeking. Plenty!

Term Geek reminds me of so many things. It was during dot com boom that the usage of the term Geek changed to positive sense. Geek after steady transition now refers to keen and expert users of personal computers and the Internet, in an upbeat sense. Besides others (businesses and individuals) geeks now proudly like to present themselves online for which they need best, trusted and uninterrupted web host.

In this age when webshosting is essential for every concerns and even individuals, it is vital to host online assets with trusted web hosts. How to find them? Have a look at Web Hosting Rating – that they offer best of the web hosts anywhere. Top 10 Web Hosting - Best Web Hosts (2010) and you will fine independent review of top 10 web hosting providers. What is more, you can rate and review your own web hosting services you find there. That will also help other users like you.

Explore the site and see what all they are offering and how. Web hosts are featured on front page and are also listed category wise on the side bar. There are sufficient accompanying details to give an idea of what one may be buying. I liked inmotion reviews I found there.

posted @ 3:58 PM, ,

Is It Your Dream Home?
Friday, January 14, 2011

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posted @ 2:27 PM, ,

USA Banks: Moynihan's Millstones

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America's largest bank is also its most ruffled.

Another year, another fresh start. Bank of America's takeovers of Countrywide and Merrill Lynch during the financial crisis saddled it with a heap of housing-related trouble. After a rough first year in charge since succeeding Ken Lewis as BofA's boss, Brian Moynihan has spelled out his latest new year's resolutions: tackling the bank's mortgage problems head-on and seeing off a related threat from internet marauders.

In a deal that could become a template for others, the bank this week settled with Fannie Mae and Freddie Mac over most of their investments in dodgy loans that BofA securitised. The total cost of buying back mortgages from the two housing-finance agencies will be around $10 billion, a manageable hit. The deal with Fannie and Freddie "shows a willingness to take control of the situation and sets a tone for the year," says Mike Mayo of CLSA, a stockbroker.

The bank is also trying to limit the possible damage from a document dump promised by WikiLeaks in the coming weeks. Julian Assange, WikiLeaks' founder, claims to have five gigabytes of material from a BofA executive's computer hard drive. Some think this relates to iffy lending by Countrywide. Others speculate regulators investigating the Merrill deal may have also passed on information.

How explosive this proves, or even whether the leak happens, remains to be seen. But the bank is taking no chances. A team led by the chief risk officer, and helped by Booz Allen, a consultancy, is sifting through thousands of internal documents to gauge the impact of their release.

Other problems loom. The bank, America's largest mortgage servicer, is being pushed towards a costly settlement with state attorneys-general, who have been investigating banks' foreclosure practices. Worse, it faces a barrage of loan-repurchase lawsuits from bond insurers and private mortgage investors. Seeing off the insurers should cost BofA only $2 billion, reckons Glenn Schorr of Nomura. The cost of dealing with the private investors is less clear, with estimates ranging from $4 billion to nine times that. Most think it will be towards the lower end, as private investors face bigger hurdles in pursuing their claims than the mortgage agencies. Fannie and Freddie have better access to documents, for instance. Banks also have a clear incentive to make peace with the duo that dominates mortgage markets. But Mr Schorr sees the potential cost of settling with private investors as the biggest risk overhanging the bank from its past.

Another worry is the impact of the Dodd-Frank financial-reform act. Some 4.7% of the bank's revenues are at risk from new rules, compared with 1.4% for its peer group, reckons Andrew Marquardt of Evercore Partners. To its credit, BofA has dealt proactively with some threats, for instance by taking a $10.4 billion charge relating to proposed restrictions on debit-card fees.

That has not stopped BofA assuming the mantle of America's most accident-prone large bank, a title that Citigroup has gladly handed over. A year ago, Citi was reeling and its boss, Vikram Pandit, was seen as Wall Street's most vulnerable leader. But sentiment has begun to swing its way after some vigorous asset disposals and the government's sale of its remaining stake. It helps that Citi earns almost half its revenues abroad, versus 20% at BofA.

Mr Moynihan is working hard to win over fretful clients and investors. But it is a struggle when your bank is hugely complex, culturally messy and heavily exposed to a still-wobbly housing market. Tellingly, BofA is now seen as being more at risk of default than Citi (see chart). Optimists point to the bank's enviable franchises in retail, corporate and now investment banking too. But pressure on Mr Moynihan could grow quickly if the share price, which fell by 11% in 2010, does not rebound. On handing over, Mr Lewis joked that wanting the job was a "unique characteristic" of Mr Moynihan's. That probably still holds true.

Source: The Economist

posted @ 12:56 PM, ,

PDF Viewer

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The Big Faceless Java PDF Viewer is a Swing component that can display PDF documents. Intended for customers who don't require the full API, the PDF Viewer can be installed as an Applet, application or via Java Web Start, or embedded in a Swing application.

Printing, saving, text search, forms, digital signatures, and annotations are some of the many features available - the PDF Viewer can be tailored to include just the features you need, and is a cost-effective solution for those needing the features of Adobe Acrobat® on a Java platform.

posted @ 12:49 PM, ,

Photo Printing

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Jessops Photo are the perfect choice for all your digital photo printing needs, offering a wide range of options which allow you to view your memories in the same way as traditional photographs. Thanks to our free, easy-to-use desktop ordering software, purchasing hard copies of your digital photos couldn't be easier. Amending the aspect ratio from 4:3 to the standard 3:2 ratio of analogue is simple, allowing you to combine the quality and straightforwardness of digital photography with the size and shape of photo prints that we are all used to.

The Jessops digital photo printing software offers a number of free editing tools, allowing users to perfect their digital photographs before ordering hard copies. From simply cropping unwanted elements or removing red-eye to a wide range of other editing options, the Jessops photo printing software is the quick, complete solution for your photo printing needs.

posted @ 12:38 PM, ,

Weekend Breaks

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If you are looking for an apartment in London and want to experience the sights and sounds of London for a fraction of the cost of hotels! Tell weekend breaks where in London you would like to go and they will show you apartments in that area.

They have a wide selection of fabulous luxury city apartments available for rent. These apartments are a cheap and cost effective way to visit some of the most popular cities within the UK. Renting an apartment is often far cheaper than staying in a hotel, particularly if travelling in a larger group. Our city break apartments are in cities such as London, Edinburgh, Manchester, York and Liverpool. Subsequently these properties are ideal for city breaks, whether visiting friends and family or travelling on business. If visiting Scotland, they are able to offer stylish, comfortable apartments in both Edinburgh and Glasgow. Visit the neatly laid out site and see what they are offering and how?

posted @ 10:27 AM, ,

Pakistan's Forex Reserves Fall to $17.09 Billion

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Pakistan's foreign exchange reserves fell to $17.09 billion in the week ending Jan. 8, down from a record $17.20 billion in the previous one, the central bank said on Thursday.Reserves held by the State Bank of Pakistan (SBP) fell to $13.44 billion from $13.53 billion in the week ending Jan. 8, while those held by commercial banks also fell to $3.65 billion from $3.67 billion, said Syed Wasimuddin, chief spokesman of the central bank.

Pakistan's foreign exchange reserves reached their record high in the week ending Jan. 1 as the country received more than $633 million from the U.S. for providing military and logistical support to fight Islamist militancy. It had previously hit a record high of $17.10 billion in the week ending Oct. 15 because of an increase in remittances from overseas Pakistanis and a narrowing trade deficit.

Earlier the reserves got a boost in September after the IMF sent Pakistan $450 million and said that the money would go toward the budget to help with additional spending for flood relief and immediate foreign exchange needs. This was separate from the $11 billion IMF bailout programme, agreed in 2008. In May, Pakistan received $1.13 billion in the fifth tranche of the programme

posted @ 10:16 AM, ,

Patio Heater
Thursday, January 13, 2011

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Electric patio heaters are now so advanced that they are economically and environmentally sound. Electric Patio Heaters have the benefits of: NOT being considered for banning as they produce no direct CO2 emissions and use 85% less energy than gas patio heaters. Being odour free, silent, and effective even in windy conditions a patio heater can provide cost effective instant heat at the flick of a switch.

Electric Outdoor Patio Heater cost only 9p per kW/hour to run. Infrared outdoor patio heaters are clean, safe and easy to install. Outdoor patio heaters look good and add a classy feel to any outdoor patio, bar or smoking area. Infrared patio heater technology is now so advanced that economical environmentally sound outdoor heat is available at the flick of a switch. Heat Outdoor stocks all the major brands of patio heaters and can usually offer next day delivery on most items from our Hertfordshire patio heater warehouse. Outdoor heat has never been so easy. Outdoor patio heat feels so natural and keeps customers coming back time and again. Pubs, Restaurants, Cafes and Clubs in fact anywhere flexible outdoor heat is required – Heat Outdoors has the solution.

posted @ 12:48 PM, ,

Economic and Business Updates - From 3rd to 9th January, 2011
Wednesday, January 12, 2011

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posted @ 4:44 PM, ,

Printed Products
Tuesday, January 11, 2011

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Small business owners can rely on Deluxe for the printed products they need to run their business every day.
With nearly many years experience of printing promotional products, deluxe are the leading promotional merchandise suppliers. Unlike other print companies on the internet, they host their own design studio for every artwork requirement. They also have in-house printing facilities (pad printing, screen printing and embroidery) to ensure the qualities of promotional products they produce are of the highest standard.

Their print facility also ensures that our production and delivery of promotional products and personalised corporate workwear are the fastest in the industry. You can be sure that from the moment you place your order with us, you will get the best service, at the most competitive prices, and the best quality promotional goods in the quickest time possible.

They have thousands of different promotional products and lines of corporate workwear, please browse their online catalogue for inspiration or ideas of what they can do for you.They have printed all kinds of promotional products including company checks for almost every industry imaginable, please take a look to see some of the nice things our customers have said about them.

posted @ 7:44 PM, ,

Salman Taseer FCA

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By this time, you must have learnt the sad news of the assassination of our senior member and Honorable Governor Punjab, Mr. Salman Taseer FCA, (R-0479), who breathed his last yesterday, January 4, 2011.

Mr. Taseer, joined the folds of ICAPs membership on 3rd September 1968 as an Associate member by virtue of his ICAEW membership. He has obtained his Practicing Certificate on May 8, 1969 and played a pivotal role in putting together Taseer Hadi & Co (currently KPMG Taseer Hadi & Co.), as one of its founder members.

Mr. Taseer shared a very strong bond with the Institute and always stood by the Institute. He was the Chief Guest at the Seminar held in connection with the visit of Chairman IAASB and Executive Director IFAC‘s visit to Pakistan. On the completion of fifty years of the Institute he was jubilant and looking forward to attend the Inaugural Ceremony of the Golden Jubilee celebration of ICAP planned to be held in Islamabad this month.

posted @ 6:51 PM, ,

Air Conditioning Express
Friday, January 7, 2011

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Whenever someone is looking for ways to cut down on his energy costs the answer may be a simple maintenance inspection for his heating systems. After inspecting their heating, many residents have reported saving up to 45 percent on their home energy bills. Over a period of a year this can add up to a lot of money.

That is why if anyone who wants to get benefit out of it must contact Ruud Heatig Austin that will give you guarantee to handle the maintenance of your central heating, Austin residents can breathe easier. This is due to the fact that their technicians will inspect every component of the heating system to insure that it is operating at its best. Issues such as dirty filters will be cleaned and repaired, preventing any serious health risks to you and your family. Using only the best products available, they will complete any repairs necessary for your system to be beneficial to you for a long time to come. Regular maintenance inspections will also help to eliminate the need for costly emergency heating repairs through the cold winter months. Visit the neatly laid out site and see what they are offering and how.

posted @ 12:11 PM, ,

Ratio of Youth to Adult Unemployment Worsens

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The global recession has hit young workers particularly hard. In the mostly rich countries of the OECD, the youth-unemployment rate (the unemployed as a proportion of the labour force aged 15-24) increased by 4.9 percentage points between 2007 and 2009, to 18.4%. By the second quarter of 2010 it had risen to 19.6%. Young people typically struggle to gain employment and are the first to be laid off; in nine countries more than one in four are now jobless. Spain has the highest youth-unemployment rate, at 42%, more than twice the unemployment rate of adults aged 25-54. In New Zealand, Sweden and Luxembourg, the youth-to-adult unemployment ratio is more than four. Germany has the lowest ratio (1.3), largely thanks to its successful apprenticeship system. The OECD warns that recovery will be slow and forecasts that youth unemployment will still be around 20% by the end of 2011.

posted @ 12:05 PM, ,

Business Logo Design

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A logo is a graphic mark or emblem commonly used by commercial enterprises, organizations and even individuals to aid and promote instant public recognition. Logos are either purely graphic (symbols/icons) or are composed of the name of the organization. Today there are many corporations, products, brands, services, agencies and other entities using an ideogram (sign, icon) or an emblem (symbol) or a combination of sign and emblem as a logo. As a result, only a few of the thousands of ideograms people see are recognized without a name. It is sensible to use an ideogram as a logo, even with the name, if people will not duly identify it.

A good logo design is the result of creative visual thinking. Creative logo designers think about what they see and are able to see what they think. That's the difference our in-house team of professional logo designers bring to your logo design project. Business Logo Design personnel work directly with you throughout every step of the process to create a unique and memorable logo that will make your business stand out from the crowd.

posted @ 11:58 AM, ,

Subject Wise CA Program
Wednesday, January 5, 2011

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List of Subjects in CA Program
 
formsFOUNDATION
 Module A
Paper A1 Functional English
Paper A 2 Quantitative Methods
Module B
Paper B 3 Introduction to Economics and Finance
Paper B 4 Introduction to Financial Accounting
Paper B 5 Mercantile Law
formsINTERMEDIATE
 Module C
Paper C 6 Financial Accounting
Paper C 7 Taxation
Paper C 8 Business Communication and Behavioural Studies
Module D
Paper D 9 Company Law
Paper D 10 Cost Accounting
Paper D 11 Auditing
Paper D 12 Information Technology
formsFINAL
 Module E
Paper E 13 Information Technology Management, Audit and Control
Paper E 14 Advanced Accounting & Financial Reporting
Paper E 15 Corporate Laws
Paper E 16 Business Management
Module F
Paper F 17 Management Accounting
Paper F 18 Business Finance Decision
Paper F 19 Advanced Taxation
Paper F 20 Advanced Auditing

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posted @ 10:11 PM, ,

ICAP Exemptions for ACCA, CIMA and ICMA

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This is to notify that the Council of the Institute of Chartered Accountants of Pakistan has reviewed the present exemption policy of the Institute in its meeting held on December 24, 2010 and has decided the following:

A. Available Exemptions

The exemptions from the following papers will be granted to the students who have passed all examinations of ACCA, CIMA and ICMAP:

Qualification: ACCA

Pre-entry Proficiency Test
Module - A
Module - B
Module - C
Module - D
Qualification: CIMA

Pre-entry Proficiency Test
Module - A
Module - B
Module - C
Module - D
Qualification: ICMAP

Pte-entry Proficiency Test
Module - A
Module - B
Module - C
Module - D
B. Effective Date: This Directive will. become effective from April 1, 2011.
C. Repeal: Effective April 1, 2011 this Directive supersedes the Council's Directive 2.02 to the extent that the said Directive relates to ACCA and CIMA.

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posted @ 10:54 AM, ,

Revision of Financing Rates under the Export Finance Scheme (EFS)
Monday, January 3, 2011

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Please refer to SMEFD Circular No. 13 dated September 30, 2010 on the captioned subject.

It has been decided that rate of refinance under the Export Finance Scheme applicable from January 1, 2011 and onward till further instructions shall be 10.00% p.a. The commercial banks shall ensure that where financing facilities are extended by them to the exporters for availing refinance facilities under the Export Finance Scheme, their maximum margin / spread does not exceed 1% p.a.

The financing facilities under Part-B (Export Sales) of the Scheme for financing Locally Manufactured Machinery shall also attract similar mark up rate structure.

The reimbursement of mark-up rate benefit to exporters, on excess performance under Part-II of the Scheme, as specified in SMEFD Circular No.15 dated October 31, 2009, will be adjusted accordingly keeping in view the revised mark-up rates.

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posted @ 11:15 AM, ,

ICAP Golden Jubilee Year 2011- Message from the President ICAP

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My dear Honourable Members

As you would no doubt be aware that your Institute would inshaAllah be fifty years old on July 1, 2011. The Council has therefore decided to celebrate the calendar year 2011 as the Institute’s Golden Jubilee year. To this end the Council and the Regional Committees plan to hold various events throughout the year for its members, students and the secretariat.

Fifty years back, the then Registered Accountants displaying immense foresight and vision recognized the requirement of an upcoming modern State of Pakistan to have an independent platform for accountants. Thus, The Institute of Chartered Accountants of Pakistan was established on July 1, 1961 under The Chartered Accountants Ordinance, 1961. Your Institute has come a long way since then from a very small community of Registered Accountants to what it is today, a professional body of over 5000 members.

Over the years numerous developments have taken place within the accounting profession. The role of accountants has gradually evolved from a stereotypical image of bookkeepers to that of business advisors. The Institute, being the custodian of the accounting profession in Pakistan, has gradually evolved processes to ensure transparency, accountability and good governance within the profession.

Simultaneously, your Institute has firmly established itself as a premier institution which produces qualified accountants, who are not only in high demand within the country but have also made a mark for themselves outside Pakistan.

Your Institute possesses the distinction of being the first body of professional accountants in the region to embark upon the adoption of the International Financial Reporting Standards (IFRSs) [(previously referred to as the International Accounting Standards (IASs)] and courtesy the corporate and the banking regulators of the country has succeeded in having those IFRSs, with a very few exceptions, as constituting the accounting framework for the corporate sector in Pakistan. Whereas, adoption of the IFRSs has greatly improved the quality of corporate reporting within the country, it has significantly promoted the acceptability of our members internationally.

It is no secret that throughout the last five decades your Institute has never compromised on the integrity of its examination system which is virtually unimpeachable and the quality of the product coming out of that system has now established itself as a benchmark for professional competence. This in itself is a matter of immense pride to be recognized as a member of The Institute of Chartered Accountants of Pakistan. Today, the members of our Institute while conducting themselves in accordance with its principles of professional ethics and fully armed with appropriate technical skills, have established themselves as professionals in demand across the globe especially in the Middle East, UK, Canada and USA. In fact, they can also be found in the Southern Hemisphere i.e. in places like Australia and South Africa. With the expected conversion to IFRSs by USA and Canada, it is anticipated that the demand for our members would increase substantially.

Over the last fifty years your Institute has been able to establish for itself an enviable reputation in the educational and business sectors of the Pakistani society due to the relevance of its syllabus, its very secure examination system and the professional conduct of its members, whether as stewards in the industrial and banking sectors or as auditors and tax consultants. The Institute continues to recognize its responsibility in the development of the profession and producing quality competent professionals.

Thus it encourages students to consider Chartered Accountancy as a career of choice at their school leaving level or upon graduation. Of course, this quest would not be fully achieved if the Institute was unable to ensure that the students are provided quality on‐the‐job training.

But this journey of ours is a test of endurance and being fifty years old is just another milestone. We have a greater responsibility on our shoulders now as the journey beyond the golden jubilee is expected to be more challenging. There is no time for complacency in a dynamic environment where information is being exchanged in micro seconds; both the honorable members and the Institute must appreciate the challenges lying ahead and effectively plan to address them. As professional accountants we have a critical role in accelerating the progress of our country towards economic stability and the Institute will continue to support and facilitate not only its members but also the government, the regulators and the business community in this respect.

The pivotal role played by the senior members and the leaderships in the development of a nascent institute to what it is today is great fully acknowledged. The Institute could not function effectively without having in place a dedicated secretariat and their effort deserves a special mention. 

We should at this moment of celebration also remember those of our members who are no longer with us and may Allah rest their souls in eternal peace.

We at the Council look forward to your effective participation in the Golden Jubilee activities throughout the year. On behalf of the Council I would like to wish you and your families a very happy, healthy and prosperous 2011, our Golden Jubilee Year, and pray that may Allah shower his blessings upon us and our country.

Thanks and warm regards
Saqib Masood
President (ICAP)

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posted @ 10:31 AM, ,

Happy New Year
Saturday, January 1, 2011

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posted @ 10:09 AM, ,


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