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...

PREPARING A FINANCIAL REPORT:             Financial Report is an informational document about the financial performance of a company. That include the balance sheet, income statement, cost of goods sold statement and cash flow statement. Actually that is a summary of the company or business which we make after a specific period of time. The Beneficiaries of the financial report are all the stakeholders of the business. The Complete process of the financial reporting is  consist of different steps which are as follows: ·          Preparing and Planning to write. ·          Preparing the balance sheet. ·          Preparing the income statement. ·          Preparing statement of cash flows. ·          Adding addit...

                            Accounting and Finance both are the part of our daily professional and social life. The Core concepts of both revolve around the management of assets. Both are belongs to two separate disciplines which have a common objective and the core objective is to manage the business and individual assets in a professional, reasonable and economical ways. That’s the reason we can say that accounting and finance both are lumped together. Here are the key features of the both disciplines which helps us to understand the core objective and thoughts of accounting and finance. In this passage we will elaborate the concept of Finance at the top and explain the features and role of finance in our daily life and separate it from the accounting. Finance word normally used in both format like a noun and verb. In the format of a noun, finance is the management of large amount of money or assets o...