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A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
Income is a short term inflow during the fiscal year. Expense is short term outflow during the fiscal year. An asset is a long term inflow with implications extending beyond the financial period and by the traditional view could represent unclaimed income. Alternatively, an asset could be valued at the present value of its future inflows.
The Public Accounts Committee (PAC) holds a significant role within global accountability frameworks, working to ensure the responsible use of public funds. Operating as a legislative body within the National Assembly of Pakistan , its primary objective is to uphold transparency and accountability across all public bodies and constitutional ...
Feroz-ul-Lughat Urdu Jamia (Urdu: فیروز الغات اردو جامع) is an Urdu-to-Urdu dictionary published by Ferozsons (Private) Limited. It was originally compiled by Maulvi Ferozeuddin in 1897. The dictionary contains about 100,000 ancient and popular words, compounds, derivatives, idioms, proverbs, and modern scientific, literary ...
Structure of simple mudaraba contract [11]. Mudarabah is a partnership where one party provides the capital while the other provides labor and both share in the profits. [12] [13] The party providing the capital is called the rabb-ul-mal ("silent partner", "financier"), and the party providing labor is called the mudarib ("working partner").
The Controller General of Accounts (CGA) (Urdu: حسابدارِ اعلٰی حسابات پاکستان) is the premier accounting office of the Government of Pakistan. The Office is entrusted with the task of producing accurate and timely financial statements for the federation. It was formed under an ordinance issued in 2001.
The amended version called the Chartered Accountants By-Laws, 1961 was published in Part 1 of the Extraordinary Gazette of Pakistan on July 1, 1961 and was enforced on that date. As of that date the Department of Accountancy and the Pakistan Institute of Accountants having served a very useful purpose for a long time were finally liquidated.
The Pakistan Institute of Public Finance Accountants (PIPFA) (Urdu: ادارہَ محاسبانِ حساباتِ عامّہ ، پاکستان) is an autonomous body recognized mainly in the government sector and established under license from the Securities and Exchange Commission of Pakistan by the authority given under section 42 of the Companies Ordinance, 1984.