Friday, March 29, 2024
01:16 PM (GMT +5)

Go Back   CSS Forums > CSS Optional subjects > Group I > Accounting & Auditing

Reply Share Thread: Submit Thread to Facebook Facebook     Submit Thread to Twitter Twitter     Submit Thread to Google+ Google+    
 
LinkBack Thread Tools Search this Thread
  #1  
Old Sunday, November 08, 2009
abbasi_faheem's Avatar
Member
 
Join Date: Oct 2009
Location: Karachi
Posts: 53
Thanks: 29
Thanked 12 Times in 10 Posts
abbasi_faheem is on a distinguished road
Default Accounting and Auditing

I need some guidance regarding Accounts paper - 1, i want some expert to check my solutions. Can someone help...?
Reply With Quote
  #2  
Old Sunday, November 08, 2009
Senior Member
 
Join Date: Mar 2009
Location: Hyderabad
Posts: 197
Thanks: 66
Thanked 170 Times in 86 Posts
bunko is on a distinguished road
Default

You can mail me your solutions at my MAIL.
Check my MAIL in my Profile

Regards,
__________________
كُلُّ نَفْسٍ ذَآئِقَةُ الْمَوْتِ - Every Soul Must Have The Taste Of Death
Reply With Quote
The Following User Says Thank You to bunko For This Useful Post:
abbasi_faheem (Monday, November 09, 2009)
  #3  
Old Monday, November 09, 2009
Omer's Avatar
Senior Member
 
Join Date: Feb 2006
Location: +97339408219
Posts: 521
Thanks: 377
Thanked 306 Times in 187 Posts
Omer will become famous soon enough
Default

you can email me your solutions as well. If u need anyhelp on accounting/auditing standards, feel free to ask.

Regards
__________________
"A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done."
Reply With Quote
  #4  
Old Monday, November 09, 2009
Purab Sarhan's Avatar
Member
 
Join Date: May 2007
Location: Karachi/ Larkana, Pakistan
Posts: 91
Thanks: 104
Thanked 193 Times in 50 Posts
Purab Sarhan will become famous soon enough
Default

@ abbasi_faheem
To me too dear.

@ Omer
Plz buddy share these "Standars" with us. What I get untill now, every standard of attempting is fine untill we are right. But still this and Pakistani termonology is kind of annoying. Do share your view and material over Standards. Thanks in advance.
__________________
Nor fame, nor power, nor love, nor leisure.
Others I see whom these surround—
Smiling they live, and call life pleasure;—
To me that cup has been dealt in another measure.
Reply With Quote
The Following User Says Thank You to Purab Sarhan For This Useful Post:
abbasi_faheem (Monday, November 09, 2009)
  #5  
Old Monday, November 09, 2009
Omer's Avatar
Senior Member
 
Join Date: Feb 2006
Location: +97339408219
Posts: 521
Thanks: 377
Thanked 306 Times in 187 Posts
Omer will become famous soon enough
Default

@ Puran Sarhan

Dear, U can ask any query regarding the IASs and ISAs.
__________________
"A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done."
Reply With Quote
The Following User Says Thank You to Omer For This Useful Post:
abbasi_faheem (Monday, November 09, 2009)
  #6  
Old Monday, November 09, 2009
Purab Sarhan's Avatar
Member
 
Join Date: May 2007
Location: Karachi/ Larkana, Pakistan
Posts: 91
Thanks: 104
Thanked 193 Times in 50 Posts
Purab Sarhan will become famous soon enough
Default Accounting and Auditing

@ Omer
There are even International Financial Reporting Standards (IFRS) but I wanted to know your view point on what a Pakistani checker would like to see in our paper.

The ones, who have scored high in this subject in CSS, have practices mostly, if not all, Pakistani books. And Pakistani books do not seem to follow any International or what so ever standards.

So I conclude a checker would find our answer, presented in International standard, most clear and understandable. Again the books which follow International Financial Reporting Standards are most understandable to us- the students. As I said, we can do wonders in this subject until we are right. And trust me, the checkers are of great aptitude.
__________________
Nor fame, nor power, nor love, nor leisure.
Others I see whom these surround—
Smiling they live, and call life pleasure;—
To me that cup has been dealt in another measure.
Reply With Quote
  #7  
Old Monday, November 09, 2009
abbasi_faheem's Avatar
Member
 
Join Date: Oct 2009
Location: Karachi
Posts: 53
Thanks: 29
Thanked 12 Times in 10 Posts
abbasi_faheem is on a distinguished road
Default

Quote:
Originally Posted by Purab Sarhan View Post
@ Omer
There are even International Financial Reporting Standards (IFRS) but I wanted to know your view point on what a Pakistani checker would like to see in our paper.

The ones, who have scored high in this subject in CSS, have practices mostly, if not all, Pakistani books. And Pakistani books do not seem to follow any International or what so ever standards.

So I conclude a checker would find our answer, presented in International standard, most clear and understandable. Again the books which follow International Financial Reporting Standards are most understandable to us- the students. As I said, we can do wonders in this subject until we are right. And trust me, the checkers are of great aptitude.
Dear I know wat u mean is right...but as for as my openion is concerned I am working with a Multinational Company as an Accountant...thus I do follow International Mathods,
Reply With Quote
  #8  
Old Monday, November 09, 2009
Omer's Avatar
Senior Member
 
Join Date: Feb 2006
Location: +97339408219
Posts: 521
Thanks: 377
Thanked 306 Times in 187 Posts
Omer will become famous soon enough
Default

Originally posted by Purab Sarhan:
Quote:
And Pakistani books do not seem to follow any International or what so ever standards.
Dear, you are absolutely mistaken here. IAS and IFRS are same thing. and all the accounting standard sr strictly followed in Pakistan. If not, what our chartred accountants r doing there. Then why not am M-commer or MBA take up their work.

Go through "Practicle Workbook on IFRS 2008" by Petiwala Book Depot for practice on Standards.

Obviously, if u hav nt studied the standards in ur studies, u will not be able to grasp them as they r too technical. Whole of the accountancy functions on thse standards.

Pakistani chaekers and checkers all over the world for accountng and auditing papers look for the application of relavant acounting/auditing standars to teh questions and the right treatement of the assets/liabilities/equity provided thereof.
__________________
"A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done."
Reply With Quote
  #9  
Old Monday, November 09, 2009
abbasi_faheem's Avatar
Member
 
Join Date: Oct 2009
Location: Karachi
Posts: 53
Thanks: 29
Thanked 12 Times in 10 Posts
abbasi_faheem is on a distinguished road
Default

Thanks a lot to you all...well my english language classes at university of karachi are starting tomorrow...so I need some time to send you all my solutions...I would prifer to discuss all my solutions to everyone who is on the forum and is taking Accounting and Auditing.
Reply With Quote
  #10  
Old Tuesday, November 10, 2009
Purab Sarhan's Avatar
Member
 
Join Date: May 2007
Location: Karachi/ Larkana, Pakistan
Posts: 91
Thanks: 104
Thanked 193 Times in 50 Posts
Purab Sarhan will become famous soon enough
Default Accounting and Auditing

@ Omer

I feel offended Omer.

Never tell a BBA (hon.) finalist specializing in Finance (which I am by choice) that he does not know or at least has not studied accounting standards. I never said Pakistani courses don’t follow International Accounting Standards, I said “Pakistani books” and this I referred to the books on accounting topics written by Pakistani writers.

Secondly, IASB (International Accounting Standard Board) and FASB (Financial Accounting Standard Board) are two boards who set Accounting Standards they have recently reaffirmed their commitment to improve International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP) and to bring about their convergences. They already have in between them 2006 Memorandum of Understanding (MoU), as updated in 2008. IFRS is one thing and IAS could be another.

On the other hand, many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new IASB took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and SICs. The IASB has continued to develop standards calling the new standards IFRS.
Now let me come again, the way we in recent days refer to International Accounting Standards is that they are any Accounting Standards recognized internationally. Let me assure you one thing at least, you are not totally wrong and I am totally right. Hope you understand.

Finally, MBAs can never take CAs’ work, CAs are Chartered Accountants and we grow up to be a Financial Analyst. This is my point of view don’t quote me on this. And I even doubt if a CA has more prospects in out of Pakistan than an MBA from internationally recognized university. I am mentioning this only for the sake of mentioning. I am neither trying to prove anything nor trying to answer.

I whole heartedly say, I respect you a lot Omer. I have always loved your name before even knowing you. It’s just that I have recently taken a Financial Statement Analysis hourly (Mid-term).
__________________
Nor fame, nor power, nor love, nor leisure.
Others I see whom these surround—
Smiling they live, and call life pleasure;—
To me that cup has been dealt in another measure.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Accounting and Auditing MOHIUDDIN Accounting & Auditing 82 Monday, February 19, 2018 07:58 PM
Accounting Terms simple_sa_jalal Accounting & Auditing 7 Saturday, September 27, 2008 09:28 PM


CSS Forum on Facebook Follow CSS Forum on Twitter

Disclaimer: All messages made available as part of this discussion group (including any bulletin boards and chat rooms) and any opinions, advice, statements or other information contained in any messages posted or transmitted by any third party are the responsibility of the author of that message and not of CSSForum.com.pk (unless CSSForum.com.pk is specifically identified as the author of the message). The fact that a particular message is posted on or transmitted using this web site does not mean that CSSForum has endorsed that message in any way or verified the accuracy, completeness or usefulness of any message. We encourage visitors to the forum to report any objectionable message in site feedback. This forum is not monitored 24/7.

Sponsors: ArgusVision   vBulletin, Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.