This Blog is written by Mr. Bilal Hussain Malik, Associate Taxation Services. Please read this blog and provide your valued comments. Income from Property The chargeability of income under the head “Income from Property” is elaborated in Section 15 of the Ordinance. The said section states that “The rent received or receivable by a person [...]
This blog is written by Mr. Omar Rafeh Chughtai, Associate Taxation and Corporate Services. Pleas read this blog and provide your valued comments. IFRS 16 Overview: IFRS 16 succeeds IAS 17. IFRS 16 specifies how a lease will be recognized, measured, presented and most importantly disclosed. This standard requires lessees to recognize assets and liabilities [...]
This blog is written by Mr. Muneeb Sultan Arif, Associate Internal Audit. Please read this blog and provide your valued comments. Going Concern; A Rationale For any set of accounts, and regardless of who completes them, particular accounting principles must be followed. One of the accounting principles that need to be followed when producing a [...]
This blog is written by Mr. Habib Ullah Khan, Associate Taxation Services. Please read this blog and provide your valued comments. SALES TAX RETURN BASICS [u/s 26 to 28] A Sales Tax return is the taxpayer’s document of declaration through which taxpayer not only furnishes the details of transactions during a tax period but also [...]
This blog is written by Mr. Hasnain Mir, Associate Taxation Services. Please provide your comments. IFRS 1 First-time Adoption of IFRSs SCOPE IFRS 1 does not apply to entities already reporting under IFRSs IFRS 1 applies to the first set of financial statements that contain an explicit and unreserved statement of compliance with IFRSs IFRS 1 [...]
This blog is written by Mr. Adnan Khan, Associate Audit and Assurance Services. Please read this blog and provide us your valued comments. External Audit – Simplified An external audit is a periodic audit conducted by an independent qualified auditor with the aim to determine whether the accounting records for a business are complete and accurate. It [...]
This blog is written by Mr. Haseeb Zaman, Associate Taxation and Corporate Services. Please read this blog and provide your valued comments. Tax Reforms Taxation is an extremely important source of backing for any state to finance the running of the governmental functions. Even the oil rich Arab states are now beginning to recognize the [...]
This blog is written by Mr. Sachal Aftab Khan, Associate Taxation and Corporate Services. Please read this interesting piece of skillful written composition and provide your valued comments. Rags Repatriating Riches Since April 5, 2018 the people of Pakistan are indulged into a debate which has turned into whirlpool of public finance. The whole saga shook the [...]
This blog is written by Mr. Maaz Khan, Associate Audit and Assurance Services. Please read this blog and provide your valued comments. Assurance and it’s levels Assurance’ means confidence. In an assurance engagement, an ‘assurance firm’ is engaged by one party to give an opinion on a piece of information that has been prepared by [...]
This blog is written by Mr. Waheed Ahmed, Associate, Audit and Assurance Services. Please read this blog and provide your comments. Management Assertions and Audit Procedures Management is responsible for the fair presentation of financial statements that reflect the nature and operations of the entity. In representing that the financial statements are fairly presented in [...]
