Member Since: 3rd Oct 1998
Cheif Financial Officer Optix Pakistan (Private) Limited
16th Dec 2019
Forecasting (for Capital Market) is but one of the uses of Accounting e.g. another important use is Accountability of assets / resources.
For the profession true and fair view still overrides but there are individual follies by accountants and auditors, I must admit there are quite a few, we should know that failures are highlighted like air plane crashes.
If a rigid reporting structure is prescribed it will distort true and fair view as every business is "unique".
XBRL had great potential and still has along with better utilization of other ICT tools.
No one suggest abolishing Police force due to their failures. What profession needs to address these issues is more oversight and regulation but not more standards.
13th Sep 2019
This clearly shows that Financial management is still an Art, not Science. Keep your numbers / analysis sound but use your gut feeling / intuition before decisions. It is like architecture, you have to have your imagination but the structure must in sound science.
12th Jul 2019
It was not ambition, it was not bold and admirable vision, it was not pursuit of growth but it was simply fraud, crime. It was serious crime as lives were at risk due to misdiagnosis. Altruistic incentive? Just a Joke. Sure rationalization comes down to human behavior, people justify murders as well.
How the investors were convinced; simply greed on their part, and greed almost always is coupled with myopia. She was fantastic actor. Most of the commentaries post-fraud still present her in positive tones or as victim of circumstances. Why so: because she was young, pretty, aping Steve Job’s dress style, a lady in boys startup world living American dream. We better call a spade a spade.
What is most disturbing is that she is still free and likely to get away with very light punishment. American justice system puts handcuffs on Dominique Strauss-Kahn on complaints of a maid but the lady with serious fraud is out waiting for trial.
If there is lax governance, fraud is bound to happen (Murphy’ new law).
21st Jun 2019
Isn't the modern job hating is because of our design; to be on our feet, chasing game, gathering berries and raising lots of kids with in a clan.
26th Apr 2019
In short, CEOs are accelerators and CFOs should be brakes.
12th Apr 2019
Is the software charges (for individuals) tax deductible expense? If not these should be.
17th Dec 2018
Sure Accountants are not sans humor, perhaps other people are not able to understand Accountants' humor.
Well 4 big ships have been hitting icebergs but they are big enough to weather the storm until someone decides to use shredders.
26th Oct 2018
Index when row_num or col_num is omitted returns array, "whole" column / row. This can be used to sum or get max / min etc. Used with match and we get sum / max / min etc. from matched row / column.
28th Sep 2018
When prudent accountant added 5+5 it came out 8.
7th Sep 2018
At ballet box voters are offered bouquet not single items,it is not possible to balance the choice. Further the voting is done every 4-5 years, too long period for action / damage control.