Accountancy & Financial matters Management blogs

As Secretary-General with Chamber of  Commerce and Industry , on a daily basis, I am receiving phone calls and meeting many peoples from different backgrounds according to their skills and expertise in different industries. Federal and Provincial Governments announced their budget and the present slowdown economy affected the National GDP and economy very badly. According to the publicly announced budget and data from the Planning Commission of Pakistan and the Ministry of Commerce the reported growth rate in the industrial manufacturing sector 0.3. That is too much panic and the mentioned statistics badly affected the national growth. The impact on the services sector is too much high and almost many people, ex-colleagues, friends and family members in social circle lost their jobs or in some cases, they were not paid by their employer since last two months in many cases employer deducted the huge portion from the percentage of their salaries. We all are observing the sa...

ELEMENTS OF ACCOUNTS:                 Accounting is the art of collecting, separating, analyzing and recording the financial transactions of the business in a certain economic period. There are two different methods or system to record the accounting transactions, one is Double Entry system and the other one is single entry system. Double Entry System is used by corporate accounting business and MNCs . Single Entry System is use by Nonprofit or Charitable Organizations.                 There are three elements of the accounting transactions and every business financial transaction must be fall in one of them. These Elements are Personal Accounts,  Real Accounts and Nominal Accounts. The Further explanation regarding these accounts are as follows: Personal Accounts:        ...

Profits Can Boost Up through Workforce Planning:                 Making Progressive and Profitable Business Company is the Dream of Every Business Company. Work Force and Finance are the Key Areas to achieve the efficient results. Some Days ago Institute of Management Accountancy conduct a Webinar Training session for their professionals and student. Today I am focusing on their delivered session and share the essentials here for all the accountancy and financial services professionals to plane their business operations in the above subjected directions to give a boost to their profits and market shares. We Know that every company want to get the leverage though its business data. According to the statistics and research analysis of the SHRM - Society of Human Resource Management. Employees Salaries which is a part of the Operating Expenses in the Accounting treatment. That is approximately up ...

Accountants are the professional staff responsible for the recording, maintaining, and controlling the financial transactions, information flow like every business and every job the management accountants also have some ethics which helps them to perform their job and their role in the business place ethics and morally in a more respectful way. That improve their performance and their productivity and also give them motivation and confidence to work live professional management accountants. IMA “Instituteof Management Accountancy” also develop the ethics and some social responsibilities rule for their Management Accountants and they also performing their duties in this mater to help out their CMA , CPA , CFA certified members and top professional members. Ethics for Management Accountants have two most valuable functions and that’s are the System Controls and Security Measures . Every professional Management Accountant follow them and he/she is working i...