what is crude oil price

Posted by Hassan Askry

In Asian market crude oil price down one dollar per barrel

In Asian market the price of crud oil have gone down more than 1.46$ per barrel. On Tuesday Apr 26 the price of Brent crude oil with the decrease of cent was 123.20 dollar per barrel. While the price of light sweet crude oil for delivery of June with the decrease of 95 cent was 111.33 dollar per barrel. There in United States the price of crude oil decreased too. Brent crude oil is at 122.78 dollar per barrel while light sweet crude oil is at 111.28 dollar per barrel.
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crude oil prices

Posted by Hassan Askry
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price of gold increase

Posted by Hassan Askry

Jewelry business effected due to increase in price of gold.

Due to current rise in price of gold where misdialers cannot buy gold jewelry on the other hand there is a negative impact on the trader’s attached to this business.

On average in Pakistan the sale of gold jewelry is decrease by 70 %. At the result of this, employees affiliated to this profession are going to unemployed. People are forced to drive taxi or to sell products with handcarts 
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japan economy 2011

Posted by Hassan Askry

Japan economy will remain slum in next Biannual.

The governor of the bank of Japan said that due to deadly earthquake and tsunami the production stopped suddenly. Due to this effect this year Biannual will remain slum.

In an interview in Wall Street he said that in this financial year there is a fear that our gross domestic products(GDP) will decrease in first two biannual. The worst problem for Japan is the sudden decrease in production.

Governor said that all hinders will be finished by august 2011.
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economic problems in the united states

Posted by Hassan Askry

In United States people are worried due to inflation

Some people are saying in misdialers are increasing in countries like India and Brazil because many people are using much resources here. While other experts say that d drought in Russia is causing riots in Middle East. And lake of refinery in international level is causing increase in food commodities and oil.


In United States people are worried due to inflation. Last time 1970 there was a decade of inflation in United States. Now a days although there is no inflation at governmental level but. Salaries and wages of people are still constant and prices of food commodities and fuel is increasing day by day that is why people are worried.

Different people are planning to use local transport and train instead of personal car hoping that it will be beneficial in next years and will help to control on inflation…
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exports of Pakistan has increased

Posted by Hassan Askry

Increase in exports of electric fans and sports products of Pakistan.

This financial year with the increase of 8.66 percent export is of 231,278,000 dollars while last year exports were 212,835,000 dollars.

Product
Export amount $
Increase/Decrease
Football
103,456,000
0.32 % decrease
Gloves
90,978,000
21.87% increase
Other sports products
36,845,000
7.10% increase
Electric Fans
27,863,000
29.39% increase
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Pakistan korea international trade

Posted by Hassan Askry

We will generate energy from scrape .Korean Ambassador

(We shall increase trading and investing in Pakistan.)


Korean ambassador Choi Chong Joo we will increase trading with Pakistan as much as possible particularly there are many ways in investing in RAWALPINDI reign. Korea is interested in pharmaceutical industry, food processing industry and scrape energies and work will be started soon.

 Choi Chong Joo said along with investment Korea is indented trade as well and Pakistani products like textile, jewelry and fruits and vegetable is demanded in Korea very much. The trade between these two countries will be increase to 1.5 Million dollars next yare…
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current gold and silver price

Posted by Hassan Askry

Gold and silver gone more expensive


Rate of one tolah Gold with increase of PKR 200.00 is at PKR 47500.00
Silver with increase of PKR 172 is at PKR 40714

Due to increase in international market the rate in Pakistani market increased at record level on Thursday Apr. 21.

In international market with increase of 4 dollar Gold is at $1508 while silver with the increase if $1.15 is at $46.15.

In Bourses in Pakistan 10grams of Gold is PKR 40714.
It Is important to mention here that for the 1st time in the history of this country silver increase PKR130 in a single day. In the local market the trend of buying silver has increase. Along with professional brokers, middle level traders are participating in silver trading due to which it is probable that in international and local market there could be decrease in silver rates along with gold rate.  
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launching a new product in market

Posted by Hassan Askry
Business trend has changed allot. its not an easy task to start a new business in such a competitive market. In early age when every product was new to the world everyone who started making new product could easily got monopoly on that product. And trends were very long term once a product has introduced in the market, it started selling and remained profitable for a very long period. Because people at that time were very monotonous they didn’t need any change they had limited desires, limited thinking and limited approach of getting that product usually from shops. 


But now days the trend is almost opposite to that one, people need change, change and change.


The product’s life is short we can’t start making new product easily because there must be some related products in existing market. We cannot have the attention of the people easily.

On a very high level when a very big industry wants to launch a new product it has to do a lot of work. It first of all collect a lot of data about product including research, comments of people, requirements of people, desires of people, trend, season, fashion and a lot more things that it kept in mind before lunching a single product. Infect industries make an entire department named “research and development” (R&D) and spend million dollars on that department so that it may launch a new product.

but if you want to lanch a new product with small investment you should kept in mind the following tips
  • start launching the product with the new IDEA.
  • marketing strategy should be different not traditional.
  • product price should be lower then existing product in the market.
  • etc.
Hope these tips will help you a lot in starting new business or launching a new product.
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what is audit and assurance

Posted by Hassan Askry

Audit and Assurance:
We need assurance to,
  • Increase confidence
  • Reduce risk
It is very complicated topic to understand but you can understand it completely assurance and element of transaction through this example

For example if you want to purchase a house and you consult a person for this purchase. What are the elements that could be a part of this transaction?

1.      User (i.e. you)
2.      Subject Matter (in this case it is the House to purchase)
3.      Practitioner ( the consultant with which you consult)
4.      responsible party (the party through which you want to purchase house)
5.      Criteria (the terms and conditions of buying)


In case of companies assurance, companies want assurance of their companies and they consult with practitioners i.e. Audit Firms. It increases the confidence of the companies and reduces the risk.

The following two types of assurance that auditors could give it to you


Types of Assurance 
there are only two types of assurance which are reasonable assurance  and  limited assurance


Reasonable Assurance
Limited Assurance
High Level     
Moderate Level
Positive Report
Negative Report





Positive report:
Positive report doesn’t mean that practitioner is saying that every thing is absolutely correct but they broadly speaking say” it is repayable”

Negative Report:
Mean that Practitioners say “nothing has comes to our attention that causes us to believe that Financial statement are prepared in all material aspect in accordance with applicable reporting framework.

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Internal Audit VS External Audit

Posted by Hassan Askry
Internal Audit VS External Audit
while thinking talking about Internal Audit and External Audit people often intermix with each other the best way to know about them and the difference of them is the following table.
I am sure using this table you will never  misunderstand Internal Audit VS External Audit.



Internal Auditor
External Auditor
Objective
To add value
Enable to express the opinion on financial statement
Reporting to
Board of Directors + Audit Committee
Share holders
Scope
Every operation of Org.
To check financial statement
Relationship with Co.
Employee, but new concept is out sourcing
Independent from company appointed by shareholders


well this was my work about Internal Audit VS External Audit.. hope you will like this.
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Internal Audit System and resources

Posted by Hassan Askry
Internal Audit System and resources:

the main objective of the internal auditors is to "CHECK DAY TO DAY CONTROL" 


For many reasons including independence  problem internal auditor is recruited by Board of directors (BOD). after the solution of Independence problem the new issue arise is familiarity . To solve this problem of familiarity a technique is used called "Outsourcing"

Hierarchy of Internal Audit Dept.           


                                                                 BIG         MEDIUM       SMALL                 
Internal Audit Manager                            1                 1                      1


Assist. Internal Audit Manager                2                 1                      -


Internal Audit Officer                                4                 2                    1-2


Internal Audit Assist. Officer                   10                4                    2-3


Outsourcing technique is so expensive so companies use "Hybrid Approach" i.e. "some hire by yourself and some trained internally " The upper portion of hierarchy like managers and assistant managers are out sourced while juniors and internal audit officers are in-sourced 
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