The best Accounting Practices in Pakistan

[iu]

Dear everybody,

Assalm-o-Alikium,

I am a new member of this forum. Professionally, I'm new in Accounting trade. I want to help myself asking best practices of accounts under differnt areas in pakistan as well as anybody who can get the advatage of it. I hope you all will really help me in this regard as well as many.

Today, I want to ask what anybody thinks that is best practice to handle different type of vouchers in computerized accounting?
How these could be enteredm what information should be captured, how narration be used, any feedback for effective input? Please

[iu]

Knock...Knock...


Hello,

Isn't anybody here who could motivate me replying my query. 31 memberes yet have read but no one thinks to give a feedback. Moderator...Where are you. Please...motivate me this is my first post. Your feedback and help moving this topic ahead will really help many professionals and new comers in this trade, and one day you will also find some very much fruitful for yourself as well. So kickstart and go on.

Regards,

Ideas Unlimited
Because we want to live happy..

[XBRL]

well voucher is the basis source so no one ever thinks of mainting them electronically however SEC in pakistan has allowed to maintain records in electronic prescribed format.

As regard narration and data inputr and best practice to handle different types. well it entirely depends on the computer program u are using.

[XBRL]

Ref... to ur another post.....

Dear all helpers,

Recently I have joined in Finance department of a service based organization, and want to excel in this profession. I need your dire help in this regard. Please feedback on as fllows

(Sumaan, I hopefully expect your contribution as well)

1. What is the right defination (clearly understood) of Deffered Cost?

2. Softwares fall under Fixed or Current, if in Current why?


Regards,

Ideas Unlimited
Because we all live happy......

"Make this world a livelier place"


1. deffered cost is the cost which under defined, clearly demonstarted and explained and permitted circumstances, is not totally charged in income statement of current year rather is deffered for defined period in balance sheet and portion is charged in current year.

2. software is intangible asset (if it meets the recongnition criteria as defined in IFRS 38 intangibles) and it is not a current asset.