Thursday, May 14, 2015

Student Entrepreneur Info Graphics


You're Student  at college and you think you have an extraordinary business thought, yet you have no idea where to go by advancement the thought. Where do you begin? 

For some understudies, an absence of business learning can overpower your thoughts, demonstrating a hindrance that keeps numerous from moving past the thoughts stage. 

For my business accomplices and me, we battled with knowing where to search for introductory venture to get our thought off the ground, and comprehension the handy steps we expected to take to turn into our own particular managers. 

So how well can college set up an understudy for a vocation in business? There's an age-old contention around whether enterprise can be taught or whether its a characteristic that a few individuals just have.


Student Entrepreneur Info Graphics




Wednesday, May 13, 2015

Letter Relating to Auditors

Letter Relating to Auditors
  • Offer Letter:

Written by the business management to the auditor after informal meeting offering the job of audit in business.
  •  Consent Letter:

Written by the Auditors to the business management answering the offer letter with consent to work.
  •  Appointment Letter:

Written by the management to Auditor informing the completion of legal procedure for appointment carried out by the business authorities.
or SECP when its appoint the auditor.
  •  Engagement Letter:

Written by the Auditors after receiving the appointment letter informing the business management about scope of audit & management responsibilities regarding proper internal control working & reply of  ICQ.
  •  Weakness Letter:

Written by the Auditors during continue audit after submitting the audit report to inform the business management for improvement in their internal control. It is also called post audit letter.
  •  Letter to Bankers, Legal advisor, Third party, Debtors & Creditors:

Written by the auditors send through the business for confirmation certain balances, or any other information regarding legal cases pending against the business their possible effect (To be more inform about contingent Assets & Liabilities.
  • Communication Letter:

It is sent by the new auditors to the removed auditors asking about the professional reason for this removal or no objection for the new auditors to accept the assignment.






Supply Chain Performance: Achieving Strategic Fit and Scope

Supply Chain Performance: Achieving Strategic Fit and Scope

How is Strategic Fit Achieved?

Step 1: Understanding the customer and supply chain  uncertainty

Step 2: Understanding the supply chain capabilities

Step 3: Achieving strategic fit
Supply Chain Performance: Achieving Strategic Fit and Scope

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Tuesday, May 12, 2015

Pakistan's Information

Languages in Pakistan

Punjabi 48%, Sindhi 12%, Saraiki (a Punjabi variant) 10%, Pashto (alternate name, Pashtu) 8%, Urdu
(official) 8%, Balochi 3%, Hindko 2%, Brahui 1%, English (official; lingua franca of Pakistani elite and most government ministries), Burushaski, and other 8%

Religions:

Muslim (official) 96.4% (Sunni 85-90%, Shia 10-15%), other (includes Christian and Hindu) 3.6%
(2010 est.)

Population:

196,174,380 (July 2014 est.)

Location: 

Southern Asia, bordering the Arabian Sea, between India on the east and Iran and Afghanistan on
the west and China in the north

Geographic coordinates:

30 00 N, 70 00 E

Map references:

Asia
Area:
total:  796,095 sq km
country comparison to the world:  36
land:  770,875 sq km
water:  25,220 sq km

Flag description:

green with a vertical white band (symbolizing the role of religious minorities) on the hoist side; a
large white crescent and star are centered in the green field; the crescent, star, and color green
are traditional symbols of Islam

National symbol(s):

star and crescent

National anthem:

name:  "Qaumi Tarana" (National Anthem)
lyrics/music:  Abu-Al-Asar Hafeez JULLANDHURI/Ahmed Ghulamali CHAGLA
note:  adopted 1954; the anthem is also known as "Pak sarzamin shad bad" (Blessed Be the Sacred
Land

Monday, May 11, 2015

Introduction to Supply Chain Management

Introduction to Supply Chain Management 

Prologue to Supply Chain Management 
On the off chance that your organization makes an item from parts bought from suppliers, and those items are sold to clients, then you have a production network. Some supply chains are straightforward, while others are somewhat confounded. The multifaceted nature of the production network will change with the span of the business and the complexity and quantities of things that are made.
Introduction to Supply Chain Management

Auditor’s Opinion relating to different Reports

Auditor’s Opinion relating to different Reports


  • Un-Qualified opinion:


Un-qualified  opinion  used  in  un-qualified  report  where  financial  statements  as
already accurate and all have been amended as per auditor’s advised.

  • Qualified Opinion:


Qualified  opinion used  in a  qualified report  where the  auditor’s  dissatisfaction and
objection raised have not been properly resolved.

The  auditor  used  the  words  “except  for  above”  after  mentioning  the  objection
where the disagreement is reasonably estimated such as amounts of sales or
any other account and provision for depreciation.

The  auditor  used  the  word  “subject  to  above”  when  the  difference  cannot  be
reasonably  estimated  but  it  exists  there  such  as  reserve  for  bad  debts  and
existence of contingent liability etc.


  • Adverse Opinion:


Adverse  opinion  is  that  where  the  difference  is  so  much.  Material  and  financial
statements have not been prepared according to GAAP. The auditor used  the phrase that
“the financial statements do not give true and fair view”.

  • Dis-Claimer:


This opinion is given when due to lack of evidence provided for reaching uncertainty is
not resolved and auditors are not in a position to get full information.
The auditor will use the word “not in a position to express an opinion their upon”.
(Normally  this  type  of  opinion  is  carried  out  in  private  limited  companies  and  small
companies.

Sunday, May 10, 2015

Statutory Report

Statutory Report                                                Section 157 (5)
  1. Requirement of a public ltd. company.
  2. For holding statutory meeting (First meeting of company).
  3. Meeting to be held after 3 Months but before 6 Months of start of the Business.
  4. 21 days before the meeting, a notice of the meeting along with statutory report sends to all shareholders.
  5. Report consisting of various information relating to the management and its operation.(Director’s Names, occupation, authority etc.)
Sub Section (5)
  • Require an auditor’s certificate regarding correctness of share allotment against cash & receipts and payment statement.

                                i.            Share allotment of company against cash.
                              ii.            Share allotment of company without cash.
                            iii.            Receipts and payments
  •       Accounts to be examine normally up to 3 months or 4 months after the           commencement of business.
  • No profit & loss account and balance sheet to be prepared and examine and send to the member, to be maintain the confidence of the shareholders by avoiding any disclosure of weak information.
  • The auditor take the following steps to examine the required statements:
                                   i.            Examination of M.O.A & A.O.A to confirm authorized capital and its division.
                                 ii.            Examination of prospectus issued regarding term & conditions of issued capital.
                               iii.            Examine the subscription received through different banks.
 ( Application & Amount)
                               iv.            Examine share allotment procedure (such as adjusting over & under subscription).
                                 v.            Examination of share allotment record ( such as share allotted & issued must be equal to registered of members).
                               vi.            Vouching of cash book item relating of that period.
                             vii.            Verification of cash balance from bank statement.
                           viii.            Examination of under writing commission ( not more than 1% )
                               ix.            The work to be completed and report submitted within two weeks.
                               x.            Specimen of Statutory Report
Specimen of Statutory Report
We have examine following statements along with (annexed) to our report and required to be included in the statutory report of the company under section 157 (5) of the company ordinance 1984 and we report that these statements have been found correct by us.
Share allotment against cash.
Share allotment other than cash.
Receipts & payment statements ending on 30th September, 2103
Bank balance of the company on that day.
Subject to our notes given at the end of report:
Note No. 1:
One of the directors has not paid for his qualification shares amount Rs.400000
Note No. 2:
Company has not returned an amount of Rs.500000 related to over subscription.
Note No. 3:
Another director of the company has been paid of commission Rs.100000 on account of his services regarding registration of company.






Wednesday, May 6, 2015

Political Violence: Retiring the Word Terrorism

Political Violence: Retiring the Word Terrorism

By James M. Dorsey
Founders of many modern states, including stalwarts of anti-terrorism like Israel and allies in the war on terror like the Kurds, achieved goals with political violence that killed innocent people and would be classified today as terrorism. In fact, the history of political violence mitigates in favour of recognizing it as a reflection of deep-seated social, economic and political problems -- rather than demonising it through terms like terrorism or evil.
Recent uncovered by German magazine Der Spiegel trace the rise of the Islamic State to a network of former Iraqi intelligence officers loyal to toppled Iraqi dictator Saddam Hussein. In 2003 they were deprived of their jobs with no future prospects when then US administrator of Iraq Paul Bremer disbanded the Baathist military and security forces. They were aided by Syrian military officers and officials who saw the group as a buffer against a feared US attempt to topple President Bashar al-Assad.
The history of the rise of the Islamic State as an extreme Sunni Muslim rejection of discrimination by a Shiite majority in Iraq and repressive dominance by an Alawite minority in Syria revives the notion of “one man’s freedom fighter is another’s terrorist”. That notion is similarly embedded in the policies of both Western nations and conservative Arab regimes concerned about their survival. They not only forged  cooperation with Turkey’s Kurdish Workers Party (PKK) and Syria’s Kurdish People's Protection Units (YPG) but also Gulf support for the jihadist Syrian rebel group Jabhat al Nusra that is locked in battle with Islamic State and in Western distinctions between good and bad foreign fighters.
‘Bad foreign fighters’, angry at the human and political cost of combatting political violence with a military rather than a predominantly political campaign, are the thousands who have joined the ranks of Islamic State; ‘good foreign fighters’ are those who have gone to Syria to fight with the Kurds against the jihadists, particularly during last year’s battle for the besieged Syrian Kurdish town of Kobani.
The notion is also evident in the US National Intelligence’s most recent report to Congress that for the first time in years no longer includes Iran or the Tehran-backed Lebanese Shiite militia Hezbollah as a terrorist threat to US interests.
The list of internationally - recognised political leaders who can trace their roots to political violence and terrorism is long. Yet, they and their predecessors disavowed what is termed political violence once they achieved their goals. The list includes Israeli Prime Minister Benyamin Netanyahu, whose ideological roots like those of former Israeli leaders Menachem Begin and Yitzhak Shamir, lie in the use of political violence and terrorism in pre-state Palestine without which the State of Israel most likely would not have been established. Both Begin and Shamir were wanted commanders of Irgun, a group denounced as terrorist by the British Mandate authorities.
Similarly, Palestinian President Mahmoud Abbas hails from a movement that was long condemned as a terrorist organisation. While nothing justifies the killing of innocent civilians, recognition of Palestinians as a people with national rights and the creation of the Palestine Authority would most probably not have occurred without Palestinian attacks in the 1960s and 1970s on civilian targets.
Finally, the PKK, an organisation deemed terrorist by Ankara and its Western allies as well as its Syrian counterpart, the YPG, are de facto allies in the fight against Islamic State, the jihadist organisation that controls a swath of Syria and Iraq that employs brutality as a means of governance. The list is far longer: think of Nelson Mandela’s African National Congress (ANC), the aging leaders of Algeria or the Irish Republican Army (IRA).
The sole common denominator of all these examples is not an ideology but a political grievance and a belief, right or wrong, that the odds were stacked against them and that violence was a necessity rather than a goal in and of itself. Political violence is a tactic most often employed and frequently with success by those opposed to forces with overwhelming military might.
All of these men and groups who today are either respected political leaders or on their way to returning to the international fold saw political violence as a means of the underdog to secure their perceived rights and right an injustice rather than as a criminal philosophy and practice implicit in the use of the word terrorism.
US Secretary of State John Kerry, in a moment of lucidity, implicitly recognised the underlying politics when he last year acknowledged that American Muslims had stressed to him that the absence of an Israeli-Palestinian peace was fuelling anger on the streets and recruitment by Islamic State. “People need to understand the connection of that … it has something to do with humiliation and denial and absence of dignity,” Kerry said.
All of this is not to justify the use of political violence, the killing of innocent civilians or the extremist ideology and brutality of groups like Islamic State. Nor does it justify the indiscriminate torture of large numbers or mass rapes of women as a means of control. It is, however, recognising a political reality however unpleasant that may be.
That reality involves acknowledging political violence for what it is and debunking efforts to depoliticise the roots of political violence that only serve to evade often painful political choices involved in confronting underlying grievances. It also involves accepting that it is politics, rather than military force and law enforcement, that offers the tools to effectively resolve situations that produce political violence.
It also serves to spotlight the fact that terms like ‘terrorism’ and ‘fighting evil’ turn the struggle against political violence into a zero-sum game in which victory constitutes the elimination of barbarians who, with problems unresolved, bounce back from setbacks in new, far more brutal guises.
Bombastic statements by Western leaders designating political violence termed terrorism, particularly in the case of jihadists, as an existential threat and an epic struggle against a form of totalitarianism comparable to that of fascism and communism, has only served to raise the profile and appeal of brutal perpetrators like Islamic State. The numbers speak for themselves: University of Maryland research shows that jihadist attacks had tripled in 2013 compared to 2010.

Political violence may be a scourge, yet it is fundamentally an act of politics. Recognising this makes politics rather than predominantly military force the appropriate response. A first step towards that recognition would be removing the term terrorism from the debate in a bid to eliminate ideological prejudice that serves vested interests and at best complicates the search for real solutions to real problems.

Monday, May 4, 2015

Asian Financial Crises 1997

Asian Financial Crises 1997

Nine Asian countries, South Korea, Japan, China, Hong Kong, Taiwan, Singapore, Malaysia, Indonesia and the Philippines were considered as Asian Tigers in the early 1990s. These  economies were rapidly growing due to the inflow of investments, improvements in  technology, increases in education, a ready supply of labor as people moved from the  to the cities to work in factories, and reduced restrictions on trade and commerce leading to free‐market economies. 

In the buildup to the 1997 crisis there was excessive borrowing. This borrowing tended to be for speculative purposes in projects such as retail space, office buildings, hotels, other real estate and other assets. The great inflows of money into these assets caused their prices to rise dramatically, creating a bubble. This speculation was fueled by national banks borrowing excessively from abroad and lending excessively in their home countries. Deregulation in the financial sector led to easy money, which caused many speculative and bad loans to be made.





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