This blog is written by Mr. Hafiz Fawad A. Matloob. Please read this blog and provide your valued comments EIGHT THINGS TO KNOW ABOUT THE AUDIT EVIDENCE STANDARD As we were finalizing Statement on Auditing Standards No. 142, COVID-19 arrived and caused major disruptions to the country’s economy, including changing the ways auditors were [...]
This blog is written by Mr. Waqar Ul Mulk. Please read this blog and provide your valued comments WUM BLOG 23102020 RECOGNITION An entity recognize revenue to depict the transfer of promised good or services to customer in amount that reflect consideration to which the entity expect to be entitled in exchange for those [...]
This blog is written by Zeeshan Ali. Please read this blog and provide your valued comments This blog is written by Zeeshan Ali. Please read this blog and provide your valued comments IAS-38 (INTANGIBLE ASSETS) Brief Overview In modern business era, Services Industry has rapidly increased as compared to manufacturing Industry on account [...]
This blog is written by Mr. Hamid Rehman. Please read this blog and provide your valued comments WITHHOLDING TAX “Withholding tax (WHT) is basically a ‘presumptive’ tax, based on the notion that an earner with a certain amount of income will presumably keep earning that much (if not less) in the future. Put [...]
This blog is written by Mr. Adil Ihsan. Please read this blog and provide your valued comments IAS-23 (BORROWING COST) Scope of IAS 23 An entity shall apply this standard in accounting for borrowing costs Two types of assets that would otherwise be qualifying assets are excluded from the scope of IAS [...]
his blog is written by Mr. Usman Ghani. Please read this blog and provide your valued comments LEARNING OUTCOMES Meaning of cost of capital. Cost of Equity capital using Dividend growth model, Dividend yield growth model, Price earing model and capital asset pricing model Summary of formulas. COST OF CAPITAL (MEANINGS) The [...]
This blog is written by Mr. Waheed Ahmed. Please read this blog and provide your valued comments Introduction The term “Value Add” is the key concept in today’s business. We read it on company websites, in pitch presentation, tender document and business proposals etc. We should consider that “Value Add” is a thing that client [...]
This blog is written by Mr. Abbas Shahid. Please read this blog and provide your valued comments NOTICE UNDER SECTION 111(1) OF THE INCOME TAX ORDINANCE, 2001 The purpose of this blog is to explain whether there is need of issuance of separate notice under section 111(1) of ITO, 2001 or not? UN-EXPLAINED [...]
KCO Newsletter Sep 2020
This blog is written by Mr. Maaz Khan. Please read this blog and provide your valued comments FRAUD CONSIDERATION IN AN AUDIT OF FINANCIAL STATEMENT (ISA-240) Blog objectives: To understand fraud and types of fraud Responsibility of the auditor and management with respect to fraud Fraud risk factors Auditor courses of action if [...]
