Federal Budget 2011-12

What is Investment?

Investment is basically the committment of funds in assets with the hope that it will generate income or appreciate in the future with anticipated risk. There are three words in the definition includes; funds, assets and income. 1. Funds mean the money someone is going to invest. 2. Assets mean any tangible property (Land, Building etc) or intangible (patent, copyright) or financial assets like shares and debentures of the company. 3. Income is the difference between Revenue (Cash inflow) and Expense (Cash outflow). The building of a factory used to produce goods and the investment one makes by running college or university are both examples of investments in the economic sense. In the financial sense investments include the purchase of bonds, stocks or real estate property.

Agriculture or Industry? The best for Pakistan.

Pakistan is bestowed with rich natural resources that are Minerals, Oil and Gas, Aquatic animals, Forest and Human resource of course. With growth rate of 2.2%(2011) and per capita income $2400(2010). Unfortunately we could not manage all the aforesaid resources and as a result we are now one of the Under Developed Country (UDC) of the globe. Here we should not concentrate on the reasons behind for our backwardness deeply. But we can predict our destination by a simple analyses that is, “Whether Agriculture is best or Industry, for our country prosperity?”. This question may help us in deciding what path should be selected to make Pakistan a developing country. It is said that Agriculture is the back-bone of our country but to an extent it may be true but in long run it is false. About 70% of our country population is based on Agriculture. But on the other hand it makes 19% contribution is Gross Domestic Product (GDP).On the other side Industry contribution in GDP...

What is Auditing --- Definition.

In very simple words auditing is the evaluation of any 'Person'. In legal terms person means; An individual , Association of Persons (AOP) and a Company. But the students of Professional accountancy like CPA, C.A and Management Accountants mostly concentrates on auditing and involved in Auditing activities like; Financial auditing, cost auditing and Internal control. What is Auditing ? Every beginner ask from his teacher or his friend. Basically all authors define auditing in the same manner, but different professional bodies have their different modified definitions, for example one for understanding: International Auditing Guidelines used to define Audit as: " An audit is the independent examination of financial statement or related 'information of an entity', whether profit oriented or not and irrespective of its size, or legal form when such an examination is conducted with a view to express an opinion thereon". This definition comprises on: 1.In...

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