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...

Statement of Ethics for IMA Professional Accountants:                 The Institute of Management Accounts published their statements of Ethics for their professional certified accountants. Which has all the code and conducts How to perform the responsibilities like an IMA professional Management Accountant. That was published and  known as Statement on Management Accounting C(Revised), IMA – Institute of Management Accountants Statement of Ethical Professional Practice in August-2005. 1.        The Ethical Statement of IMA is based on four principles which are Honesty, Fairness, Objectivity and Responsibility. 2.        The four required standard for Ethical practice in management accountancy are Competence, Confidentiality, Integrity and credibility. 3.        According to this statement the CM...