live soft skills

So familiar with the content that you're able to speak fluently and comfortably, and adjust as necessary . 1.       You don’t attempt learn the material. You must know your material well enough, if you don't know something, just admit it, and accept to find 2.       It builds audience confidence 3.       Use slides, graphs, and other visual aids but don’t use too many pictures, charts, graphs. 4.       Keep information simple and brief 5.       .....................complete read at www.sixskills.blogspot.com

PREPARING FOR YOUR INTERVIEW Interviews depends upon Style taken (informal/ formal) Length of time involved Number of interviews in the selection process Number of people conducting the interview The involvement of tests Location (on site or off site) Face to face’ or ‘over the phone’ more at www.sixskills.blogspot.com

Information role and manage Use the grouping of information to organize your information into six key points. Don't include extra detail Good quality that motivate the audience to learn more. Interest from the start at the beginning, tell what you want to cover Create anticipation and interest from the start. Start and end strongly   Use examples to support your points. Visual Aids remembering points ..........more at www.sixskills.blogspot.com

A CV is like representative  that highlights your skills, qualification and experience in such a way that the reader is motivated to meet you, also much want to know about you AIM OF CV The aim of the CV is not  simply tells the reader about your life and any information about your current status or position Avoid extra information Unfortunately, many CV makers (applicant ) go straight into the giving just too much information .A client who received your CV may not feel well to read whole information so relevant information in  CV packed used...........more at www.sixskills.blogspot.com

there are many skills but a brief list of skills are as follows in a company   negotiation skills interpersonal skills  study skills communication skills resume skills mentoring skills management skills leadership skills survival skills transferable skills executive and presentation skills

Followings are some new codes of smiles on yahoo and Facebook 1.:ar! for priate 2.:!! hurry up 3. L-) losser 4. :-& tongue tied 5. : -o uh-oh 6. :-# wearing braces 7. { : -) wearing a toupee 8. B-) wearing dark-rimmed glasses 9. [:-) wearing earphones 10. :-{} wearing lipstick 11. ::-) wearing regular glasses 12. 8-) wearing sunglasses 13. : -) X wearing a bow tie 14. 8:-) wizard 15.|-O yawning 16 : BA fly 17. o[^_^]o

Substantive procedures The auditor may perform substantive testing to obtain evidence in relation to environmental matters. Below are some suggested procedures from IAPS 1010 The Consideration of environmental matters in the audit of financial statements. It is not intended that all of the procedures will be appropriate in any particular case. In many cases, the auditor may judge it unnecessary to perform any of these procedures. General Documentary review 1 Consider minutes from meetings of directors, audit committees, or any other subcommittees of the board specifically responsible for environmental matters. 2 Consider publicly available information regarding any existing or possible future environmental matters. 3 Where relevant, consider: (a) reports by environmental experts about the entity, such as site assessments, due diligence investigations or environmental impact studies; (b) internal audit reports and other internal reports dealing with environmental matters; (c) reports is

Financial statements prepared in accordance with IFRS and a national reporting framework For financial statements to have been prepared in accordance with more than one financial reporting framework, they must comply with each of the indicated frameworks individually. A set of financial statements prepared in accordance with one framework containing a note or supplementary statement reconciling the financial statements to the other is not sufficient. In practice, simultaneous compliance with both IFRSs and a national financial reporting framework is unlikely unless the country has adopted IFRSs as its national framework. The auditor considers each framework separately. It is therefore possible to express an unqualified opinion on compliance with one framework and a qualified/adverse opinion on compliance with the other. Additionally, it may be possible for non-compliance with one financial reporting framework to cause failure to comply with the other financial reporting framework, in

forensic auditing A professional accountant could be engaged in a number of different contexts to perform forensic work, the following practical situations could all feature in the exam. The forensic accountant could be engaged to investigate fraud. For example, a business that has fallen victim to fraud may engage the accountant to quantify the extent of the losses. Alternatively, a forensic accountant may be called in to investigate and/or quantify financial statement fraud (e.g. overstatement of revenue). In a case where an auditor or accountant is being sued for negligence both parties may wish to employ forensic accountants either to investigate the standard of work performed or to establish the losses suffered by the plaintiff. Insurance companies often engage forensic accountants to verify and report on the amounts of losses suffered by a claimant where there is a dispute between the claimant and the company. Due to the nature of this work forensic accountants will very ofte

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The Workforce  following define   "soft skills", which employers seek in life and work  Honesty. Communication skills with public,  employees, supervisors,  customers. Willingness Commitment Ability for improvement Read and follow instructions. Awareness of culture Willingness to be accountable. Basic spelling and grammar Flexibility. Team skills. Cooperation with other for goal congruence Good attitude. Personal energy.   Positive work ethic Willingness to learn. Good personal appearance.   Critical thinking skills  

simple skills are not necessary in today dynamic world and business community some are as follows Speaking Writing and listing Critical Thinking of situations Decision making Research for new ideas Advising people    Creating meaningful and challenging work        Coordinating schedules/times    Taking personal responsibility   Resolving conflicts   Supervising employees     Prioritizing work   Predicting futures   Expressing feelings   Meeting new peoples  

what are learning skills how improve it and list of skills are as: learn English ,  improve learning skills .earning leadership skills study tips learning and skills  teacher training, communication courses study help interpersonal skills  study skills survival skills resume skills management skills presentation skills job skills writing skills computer skil ls

By Soft Skills NON FINANCIAL INDICATORS are very important in modern world of business .It greatly affect the performance of business ,PESTEL , MODEL  is useful for external analysis P Political factors E Economic factors S Social factors T Technological factors E Environmental factors L Legal factors  it is important not to just list PESTEL factors AS  this does not in itself tru picture . i, which factors are most likely to change and which ones will have the greatest impact  in their own environment. For some such as pharmaceutical companies government regulation may be critical; for others, perhaps firms that have borrowed heavily, interest rate changes may be a huge issue. Managers  decide on  importance of various factors and way of doing this is to rank  and also rate the impact if it did. The higher the change occurring and the greater the impact of any change

Parts of a Business Letter 1 Date of  sent 2 Sender's Address means TO 3 Other  Address 4 Situation 5 Body of letter 6 Closing and results

. Charge and collection of Zakat.___(1) Subject to the other provisions of this Ordinance, Zakat in respect of assets mentioned in the First Schedule shall be charged and collected, on compulsory basis, for each Zakat year, at the rates and in the manner specified therein, and as may be prescribed, from every person 1[who is on the Valuation Date, and for 2[whole of the] proceeding Zakat year been, sahib-e-nisab,] and who owns or possesses such assets on the Valuation Dare Provided that where an asset mentioned in the First Schedule has been assigned by the person owning or possessing it, in favour of another person. Zakat in respect of that asset shall be charged and collected on compulsory basis as if the asset had not been so assigned ; 4[Provided further that, if an asset was owned or possessed by a person on the Valuation Date but is owned or possessed by some other person on the Deduction Date, the Zakat on such asset shall be charged and collected from such other person on behal

 By soft skills ISRE 2400: Engagements to review financial statements 2.1 A review will enable the auditor to state that nothing has come to his attention that causes him to believe that the financial statements are not prepared in accordance with an identified financial reporting framework. This is known as negative assurance. 2.2 The auditor should plan and perform the review with an attitude of professional scepticism recognising that circumstances may exist which cause the financial statements to be materially misstated. 2.3 The auditor should obtain sufficient appropriate evidence primarily through enquiry and analytical procedures, to be able to draw conclusions. 2.4 The auditor and the client should agree on the terms of the engagement and an engagement letter should be signed.

soft skills Ethics is concerned with behaviour, and trying to ensure that auditors do "the right thing" [. FUNDAMENTAL ETHICAL PRINCIPLES ] .. whatever that is! As such, it is a difficult area to have rules , as it would usually be possible to imagine a situation where the rules would lead to the wrong answer. Typically therefore, ethics is about guidance , relying on the professionalism of auditors to apply this guidance in an appropriate manner when faced with difficult situations. Guidance is contained in the ACCA Code of Conduct ... but if every Institute had its own ethical code, there would be several codes in the UK alone, and hundreds around the World! An International Code of Ethics has been developed by IFAC, in the hope of providing countries with a starting point for developing their own Codes – and to try to create some consistency in guidance around the World. In the UK, the Auditing Practices Board has created a series of Ethical Standards based on the IFAC Cod

soft skills Just as there are accounting standards, there are also audit standards to give auditors guidance (and in some cases rules) as to how they should perform their audit work. Many countries have their own national audit standards – e.g. In the UK, the Auditing Practices Board set them. There are also International Standards on Auditing (ISAs), which are set by the International Audit & Assurance Standards Board (IAASB), part of the International Federation of Accountants (IFAC). For countries without their own audit standards, the ISAs provide a set of standards that can be adopted, or altered based on national requirements. Quality control is partly achieved by having audit standards to follow ... however it is also achieved by the RSBs (e.g. ACCA) checking the audit work of their members, and handling complaints. The RSBs also have rules to ensure their members are keeping up to date with technical changes. AUDITING STANDARDS AND QUALITY CONTROL

soft skills APPOINTMENT OF EXTERNAL AUDITORS { IPOINTMENT OF EXTERNAL AUDITORS,leaves... Audit Committee,RESIGN REMOVE }n most countries, the auditors are reporting to the shareholders, so are appointed by the shareholders. The Board of Directors will propose a Firm and this will then be voted on by the shareholders. Usually, they are appointed on an annual basis at the AGM. If auditors are needed mid-year (e.g. because the previous Firm resigned) then it is often possible for the Board of Directors to appoint a Firm up till the next AGM. In most large companies, there will be a specialist Board Committee that will recommend a Firm to the main Board – this committee is called the Audit Committee . When the external auditor leaves... Sometimes it is necessary for the auditors to RESIGN . If an auditor resigns, they may wish to speak to the shareholders to explain their reasons. Therefore, the law allows them to require the company to call a General Meeting (GM), or to require the compa

soft skills Polly Peck, Maxwell, Barings The 20 th century <Polly Peck, Maxwell, Barings > In 1932, two economists Bearle and Means made some observations about American companies: ● Shareholders were more likely to sell their shares than speak out if they thought directors were not running the company very well. This could result in poor quality management never losing their jobs. ● Some American companies were getting very By the 1950s, companies were growing ever larger – what we now know as " The 1970s – 1990s saw problems starting to become common. By the late 1980s, there were some famous corporate collapses – some due to poor management, but many due to fraud: large , and with so many shareholders there was a growing gap between those who owned the companies, and those who controlled them. globalization " … the existence of large multinational companies with influence around the world was well under way. Polly Peck ● Rapid growth in the 1980s took this East

The South Seas Bubble by soft skils ● In the early Eighteenth Century, the South Seas Company was granted exclusive trading rights in the South Seas (South American colonies) in return for helping to finance Government borrowing. ● To help grow their operations, they looked for investors and issued shares. ● Things seemed to be going well – more and more investors put money in. ● There were expensive London offices – it all looked very successful. ● Management lied about how good it was – with no information available other than what management told them, investors did not know the truth. ● In 1718, Britain and Spain went to war … and the ability to trade in the South Seas was now zero. ● But investors did not know this and kept buying shares ….. ● …..whilst management secretly sold their own shares. ● Once the truth got out, there was a crash – the " South Seas Bubble " had burst. What can we learn from this? ● Investors need to be able to trust managers / directors

soft skills Limitations of internal control systems Even if Control Systems are assessed as very strong, auditors will still do SOME substantive testing. Controls are never completely reliable because: ● staff make mistakes ● staff collude to override systems ● staff believe the cost of the control is greater than the benefit ... so refuse to do it ● controls are designed for normal events ... unique / new types of transaction may bypass the system

soft skills WHAT IS AN INTERNAL CONTROL SYSTEM? According to the Turnbull guidance in the UK Combined Code, control systems need to: ● Safeguard company assets ● Maintain the efficient running of the business ● Protect the accuracy of financial reporting information ● Protect the company from breaking laws and regulations There are several ways in which control can be achieved in an organisation: ● The use of contracts (e.g. with employees) to clarify roles and responsibilities ● A system of reward and discipline ● Feedback and feedforward ● A clear organisational and command structure It is generally accepted that a good Internal Control System is made up of 5 elements: ● A strong Control Environment ● Good Control Procedures ● Good Risk Assessment ● Good Information Systems ● Effective Monitoring (typically the role of internal auditors ) Control environment The control procedures are unlikely to be effective unless there is a strong control environment: ● Management Att

soft skills In family companies, it is often the case that: ● family members have special voting rights ● family members have guaranteed seats on the board. This can lead to both positive and negative governance issues. Positive ● with the family name at stake, there is likely to be a greater feeling of "ownership" on the Board, which may reduce the risk of unethical behaviour ● to continue the family name, a longer term view of management may occur. Negative ● a less independent board ● the board may have a dominant person / group of family members ● with board members often coming from a single family, there may be a lack of variety in ideas, and an unwillingness to change previous decisions ● family problems may become business problems ● there may be unsuitable people on the board, who were elected purely because of their membership of the family. DOMINATED COMPANIES

What is professional behaviour? In its simplest terms, professional behaviour is behaving in a manner that is prescribed, and expected, by your profession. In a wider sense, professional behaviour would involve: o Following the rules and standards mentioned above o Ensuring your work was always of the best quality o Not doing anything to damage the reputation of the profession o Actively trying to improve the reputation of the profession o Acting in the "public interest" at all times. The public interest On many occasions in your studies, you meet the concept of "public interest". For example, auditors are usually expected to keep client information As noted in confidential ; but one exception to this rule is where disclosing the information would be in the public interest. chapter 8 , this is a very difficult concept. For example: o How many of the public should we consider? o How many can we consider? o As a result of such difficulties, the professional account

SARBANES-OXLEY ACT (SARBOX, SOX) After the collapse of Enron, WorldCom, and a series of other American corporate frauds and failures, the US Government was keen to act quickly and firmly. On 30 July 2002, the Sarbanes-Oxley Act was passed (it is named after the 2 US politicians who sponsored it through Congress). It was not long before it became known as Sarbox … or SOX. There are many differences between SOX and the UK Combined Code: ● SOX is law, with strict penalties for non-compliance. The Combined Code is Best Practice, not law ● SOX makes audit partner rotation the law, whereas in the UK such matters are covered by the profession’s Codes of Ethics ● SOX has a ban on auditors providing a range of "other services" to their audit clients. In the UK, very few "other services" are banned, but are instead considered within the objectivity area of Ethics. ● SOX requires the CEO and CFO to personally attest to the accuracy of the Annual Report, Quarterly Reports

A clash of responsibilities? As a However, accountants also have responsibilities to others, such as family, religious groups etc. Of particular interest are a professional’s responsibilities to As an employee, you have contractual (and ethical) responsibilities: professional , an accountant has responsibilities as described earlier in the chapter. employers . o To abide by your contract o To follow the rules of your workplace o To do as your employer says o To show a duty / loyalty to your employer and act in the organisation’s best interests (e.g. by acting in the best interests of the organisation’s shareholders and other stakeholders) o To carry out work honestly and not allow personal interests or pressures to outweigh employer interests o Clearly, if your employer expects you to behave in one way, but your profession expects you to do something else, then you face a conflict. Possible solutions to this conflict could be: To keep employer information confidential. o Allowing l

What is professional behaviour? In its simplest terms, professional behaviour is behaving in a manner that is prescribed, and expected, by your profession. In a wider sense, professional behaviour would involve: o Following the rules and standards mentioned above o Ensuring your work was always of the best quality o Not doing anything to damage the reputation of the profession o Actively trying to improve the reputation of the profession o Acting in the "public interest" at all times. The public interest On many occasions in your studies, you meet the concept of "public interest". For example, auditors are usually expected to keep client information As noted in confidential ; but one exception to this rule is where disclosing the information would be in the public interest. chapter 8 , this is a very difficult concept. For example: o How many of the public should we consider? o How many can we consider? o As a result of such difficulties, the professional accoun

WHAT IS ETHICAL? Ethics has different meanings to different people. To some, there is a fixed set of rights and wrongs that can never change. An action is either ethical or unethical, whatever the circumstances. Others believe that there is a fixed set of rights and wrongs at any given time – but that over time this can change. Behaviour that was "right" 500 years ago may now be considered unethical. Similarly, some believe that different ethical rules will need to exist in different countries and cultures, because people are different around the world and there cannot be one set of rights and wrongs that apply to everyone. Others believe that right and wrong depends entirely on the circumstances, and that there are no rules as such. In the exam , you may be required to use any of the theories in this chapter to comment on someone’s behaviour. Whether you believe their behaviour to be right or wrong will be affected by your own beliefs, so be careful! The key is to consi

STAKEHOLDER ACCOUNTABILITY If we believe that stakeholders are important, and if we believe that stakeholders may also have some responsibility for company behaviour, we need to ensure that companies are reporting adequate information to these stakeholders. Over recent years, company Annual Reports have grown massively in size, and part of this growth has been in non-financial reporting . Triple Bottom Line But this raises additional issues: reporting refers to the growth in Social and Environmental disclosures alongside financial disclosures. o Are there any "rules" on what should be reported? o Will there therefore be any comparability year on year, or within industries? o Will information reported be balanced ... or will it inevitably be more positive than negative? o There have been developments in these areas in recent years. Environmental accounting and audit frameworks (such as EMAS and ISO14000) have been developed to provide some guidance. Auditing information is

Why deal with stakeholders at all? As we saw earlier in the Chapter, the traditional view is that companies should be run for their owners, the shareholders, and that is all. However, we also saw that an alternative argument is that it might be good for business ("expedient") to keep staff happy, customers and suppliers happy, the local community happy etc. Instrumental Many believe that companies should demonstrate some CSR purely for profit reasons – that CSR looks good to the outside World and leads to higher sales. There is no moral element to this decision – the decision is taken purely for profit. Studies have shown that most consumers in the UK believe that companies are only fighting pollution, being nice to suppliers, and looking after employees because they think it makes them look like good companies and attract customers and profits.

Managing risk There are many techniques available to manage risk. Some look to manage overall risk, whilst others target specific risks. Avoiding risk Some risks can be totally avoided. If a business has identified that opening a subsidiary in Austria appears high risk, then not opening the subsidiary solves the problem! However, to totally avoid a business opportunity is often a rather extreme reaction – and if no risks are taken, the chance of returns being earned is small! Reducing risk Overall Risk Reduction Risk is the uncertainty caused by variable returns. One way to deal with uncertainty is to By operating in many different sectors, it is likely that when one sector is performing badly, another will be doing well, leading to a diversify . smoothing of profits. Advantages of Diversification ● Smoothing of profits, making forward planning easier ● May be economies of scale between some sectors, however diverse those sectors are. Disadvantages of Diversification ● Spreading r

 Risk types Financial Risk The risk that a company will not be able to survive as a going concern. This risk has a number of elements: Credit Risk The risk that customers fail to pay their bills on time (or at all!) Market Risk The risk of changes in the value of a company’s financial assets (e.g. shares, bonds) Liquidity Risk The risk of running out of cash because inflows are not arriving in time to pay outflows! Currency Risk The risk of changing foreign exchange rates in the future. This could lead to: ● ● ● Transaction Risk – change in the value of a future receivable or payable Translation Risk – change in the value of the company’s Balance Sheet if year-end exchange rates have changed Economic Risk – change in the competitiveness of the company due to longer term changes in exchange rates Interest Rate Risk The change in the value of investments and loans as a result of changing interest rates. This is the risk of breaching laws and regulations and being fined (or even cl

FAMILY DOMINATED COMPANIES In family companies, it is often the case that: ● family members have special voting rights ● family members have guaranteed seats on the board. This can lead to both positive and negative governance issues. Positive ● with the family name at stake, there is likely to be a greater feeling of "ownership" on the Board, which may reduce the risk of unethical behaviour ● to continue the family name, a longer term view of management may occur. Negative ● a less independent board ● the board may have a dominant person / group of family members ● with board members often coming from a single family, there may be a lack of variety in ideas, and an unwillingness to change previous decisions ● family problems may become business problems ● there may be unsuitable people on the board, who were elected purely because of their membership of the family.

STAKEHOLDER ACCOUNTABILITY If we believe that stakeholders are important, and if we believe that stakeholders may also have some responsibility for company behaviour, we need to ensure that companies are reporting adequate information to these stakeholders. Over recent years, company Annual Reports have grown massively in size, and part of this growth has been in non-financial reporting . Triple Bottom Line But this raises additional issues: reporting refers to the growth in Social and Environmental disclosures alongside financial disclosures. o Are there any "rules" on what should be reported? o Will there therefore be any comparability year on year, or within industries? o Will information reported be balanced ... or will it inevitably be more positive than negative? o There have been developments in these areas in recent years. Environmental accounting and audit frameworks (such as EMAS and ISO14000) have been developed to provide some guidance. Auditing information i

CORPORATE SOCIAL RESPONSIBILITY Much of the above analysis helps to split stakeholders into different types, but does not spend long looking at the moral aspect. As companies have grown into multinational organisations, their ability to affect the world and how society operates has grown as well: ● Companies can change the way society works Should companies consider stakeholders at all, and if so, which ones? o Mobile phones o Email o ● Companies pollute the environment, and big companies can have a noticeable effect on their local community ● A big company in a community will be a major employer – decisions it takes could be the main influence on the prosperity of the community ● Companies who use low cost countries for supplies and services could be seen to be keeping those countries low cost … which could mean they are keeping wages down to what might be viewed as unacceptably low levels Facebook So how much responsibility do these companies have for their actions? Should we

Agency theory and stakeholder theory Shareholders ( There is a risk that the directors do not run the company in the best interests of the shareholders … and this is the potential The question is, is this necessarily a problem at all… Earlier in the course, we defined corporate governance as "running the company in the best interests of shareholders ● Who are these other stakeholders? ● To what extent should / could / must the Board take them into consideration? ● What if what is good for one stakeholder is bad for another stakeholder? ● What if what is good for shareholders might be viewed as principals ) employ directors ( agents ) to run the company for them. agency problem . and other stakeholders ". This raises a number of questions: unethical behaviour ? Types of stakeholder Later in the chapter, we will look at the extent to which organisations might want to deal with different stakeholders. But before we do this, we need to consider It may be the case that di

The overall authority of ISAs and how ISAs are applied in individual countries ISAs are designed to be applied in the audit of financial statements and may be applied to the audit of other historical financial information. Each ISA contains the basic principles and procedures to apply to that ISA (identified by bold type in the ISA itself). Other text in the ISA provides guidance on the implementation of the principles. In other words, to apply the ISA, the whole of the text, not simply the parts in bold type, must be read and understood. ISAs are not designed to override the requirements for the audit of entities in individual countries. So if our country did not require an audit of specific entities, then the ISAs would not overrule that requirement. Regarding the detailed requirements of an audit, such as the nature of testing or the issuing of an engagement letter, where our country requirements meet those of the ISA, then the ISA will be used. It is therefore unlikely that our co