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Personal Reflection On Ahmed Junaid And Co Accounting

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My larning experience with Ahmad, Junaid & A ; Co. , Chartered Accountants, Faislabad begins with my connection from March 04, 2010. My internship study contains all the information about my work experience with Ahmad, Junaid & A ; Co. , which was established in 2007 now holding its offices at Faisalabad and Lahore.

As the trainee in Secretarial – Corporate Consultancy section at Ahmad, Junaid & A ; Co. , I spent good clip in larning and was rewarded for my best attempts, learnt to cover with different state of affairss, has experience of organisation ‘s working environment which effects an employee public presentation and attitude towards work, had good clip in larning and executing as one of the best single and trainee with the Secretarial Department.

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I gone through many of the undertakings assigned by the top direction of the secretarial section to me which gave me assurance, seeking success out of dark, invention, client handling and covering experience with Government Department.

Now, I have the best of all time knowledge about the secretarial – corporate patterns and full make fulling the SECP demands which a company apt to supply with.

I besides gone through the complete company incorporation procedure get downing from taking handiness of name to obtaining the certification of incorporation.

I would wish to foreground this, that my experience with Ahmad, Junaid & A ; Co. , Chartered Accountants, Faisalabad was really memorable and full of acquisition, where I found a batch of alterations in my attitude, larning and behaviour

Introduction TO PROFESSION

The Institute of Chartered Accountants of Pakistan ( ICAP ) is a professional accounting organic structure in Pakistan. By April 2010 it has over 6,000 members working in and outside Pakistan. The institute was established on July 01, 1961 to modulate the profession if accounting in Pakistan. It is a statutory independent organic structure established under the Chartered Accountants Ordinance, 1961 with the important growing in profession, the CA Ordinance and Bye-Laws were revised in 1983.

In position of globalisation of the accounting profession, the Institute is in the procedure of updating the Regulation and Bye-Laws one time once more.

The class of ICAP involves a blend of theoretical instruction and practical preparation which run at the same time for a period of three and half old ages and equips a pupil with cognition, ability, accomplishments and other qualities required of a professional comptroller.

The caput office of the institute is in Karachi and besides have the regional offices.

MARKET OVERVIEW OF CHARTERED ACCOUNTANCY OF PAKISTAN:

A big figure of pupils are analyzing hired accounting as it is considered honoring calling and there are first-class chances for employment in audit houses every bit good as in local companies, multinationals and local and foreign Bankss.

“ ICAP has about 6,000 members who are presently working in 35 states, with 1000s of pupils fall ining esteemed fraternity, and placed about 300 embassadors in the local and international market. ICAP a professional organic structure of hired comptrollers of Pakistan is a member of International Federation of Accountants ( IFAC ) is planetary organisation for accounting.

STREAM FOR C.A QUALIFICATION

A pupil has to travel through five degrees to go a hired comptroller. First a pupil possessing an Intermediate or A-level certification or graduation grade has to travel through a pre-entry proficiency trial with freedom for those who have secured over 60 per centum Markss in their several makings. Second they go through a modular foundation class ( MFC ) dwelling of four faculties A, B, C & A ; D.

In the 4th measure the campaigners register as trainee pupils for an auditing house. In the 5th measure the campaigners undergo on-the-job preparation for 3 and half old ages and give two faculties E & A ; F after which they join an auditing house as hired comptrollers. Now the faculties A and B are called CA foundation and C & A ; D faculties are called CA intermediate and E & A ; F the concluding. The Higher Education Commission has accepted the Chartered Accountancy making as equivalent to a Master grade in Commerce.

AHMAD JUNAID & A ; CO. ‘S Profile:

Ahmad, Junaid & A ; Company is a house of Chartered Accountants with three spouses holding huge experience in the field of audit, revenue enhancement, accounting, secretarial & A ; direction consultancy. The spouses of the house are engaged with the profession from last 15 old ages and the house has made singular advancement in Pakistan. The house is besides on the panel of registered Training Organizations ( T.O ) approved by the Institute of Chartered Accountants of Pakistan holding permission to develop the pupil of Institute of Chartered Accountants of Pakistan. Furthermore, the house is besides on the list of houses with satisfactory Quality Control Rating ( QCR ) by ICAP. The spouses of the house believe in nucleus competency, professional unity and due attention of its clients

Mission

To function our client with odd professional

Excellence, due attention and committed ethical values.

Vision

To be a house of International acknowledgment keeping unity, working with objectiveness, independency, fulfilling the demand of clients adhere to professional criterions.

Firm ‘S VALUES:

Firm ‘s Hierarchy at Faisalabad & A ; Lahore Offices

Partner 2 ( Fsd. )

Audit and confidence

Assistant Manager

Assistant Manager

Supervisors 2

Senior Hearers 4

Junior Hearers 18

Audit Trainees 12

Partner ( Lhr. )

Audit and confidence

Assistant Manager

Adjunct Manage

Supervisors 2

Senior Hearers 4

Junior Hearers 8

Audit Trainees 5

Partner 1 ( Fsd. )

Tax & A ; Corporate

Office Secretary

Telephone Operator

Office Boy

Assistant Manager Tax

Assistant Manager Corporate

Senior Auditor

Junior Auditor

Senior Auditor

Junior Auditor

Firm ‘s Areas of Services:

Audited account and Assurances

Private Client Services

Crisis Management

Tax

Radar Servicess

Secretarial Servicess

Information Technology

Accounting and Advisory

International Servicess

Performance Improvement

Servicess for Financial Institutions

Family Businesss

Feasibility Study Reporting

Financing agreements

Firm ‘s Clients:

A Advertisement Agencies

A A A NGOs & A ; Charities

A A Chemical Manufacturers

A A A Electronics Manufacturers & A ; Assemblers

A A Power Generation Companies

A A Construction Companies

A A A Cleaning Agents

A A A Confectioneries

A A A Educational Institutes

A A A Fashion House & A ; Boutiques

A A A Flour Mills

A A A Ghee Mills

A A A Textile Industry

Spining

Weaving

Hosiery

A A A IT & A ; Software Developers

A A A Jute Industry

A A A Marketing Companies

A A A Packaging

A A A Paper Mills

A A A Petrol Pumps & A ; CNG Stations

The Input Source Process of Ahmad Junaid & A ; Co. :

Under the header watercourse for CA making it is already explained that when a pupil completes four faculties A, B, C & A ; D in other words qualifies the CA intermediate phase he/she has to fall in the audit house for the completion of their preparation of 3 and half old ages. The same input procedure has followed by the Ahmad Junaid & A ; Co. , Chartered Accountants like the other CA houses.

The Main countries of Servicess at Ahmad, Junaid & A ; Co.

There are chief three countries of services in which the house ( Ahmad, Junaid & A ; Co. , Chartered Accountants ) provides the consultancy.

The Audit & A ; Assurance Services

Statutory Audited account

Internal Audit

Book maintaining services

The Corporate ( Secretarial ) Consultancy Services

The Income Tax/Sales Tax Consultancy Services

The item procedure of the above mentioned services can be viewed on the following pages.

The Audit & A ; Assurance Services Procedure:

The audit procedure can differ dramatically from occupation to occupation, depending upon the nature of the auditee and the range of the audit work. However, there are several basic stages that are present in about all audit work that they do.

Capacity planning and programming for the audit assignment:

Capacity planning and scheduling are two most of import constituents every bit for as the operations of any CA house are concerned. During the capacity planning stage at Ahmad Junaid & A ; Co. , the kept up day-to-day advancement registry is considered. In day-to-day advancement registry the names, making, and activities of the trainee pupils are recorded on day-to-day footing. The Assistant Manager deeply study the advancement registry and choose the appropriate squad for the audit assignment on the footing of compatibility of making, experience and attitude with the assignment and assigns a supervisor of the squad. The capacity planning procedure is done with the aid of the advancement registry, which enables the Assistant Manager to choose the figure of members of the squad.

Scheduling procedure at Ahmad Junaid & A ; Co. , is done by naming a brief meeting of the supervisor, senior hearers and junior hearers. In run intoing the deadlines, assignment range, nature, timing and extent, nature of communicating required are discussed and decently conveyed to all the members of the squad.

Audit Team Building Phase:

Before the planning stage of the audit assignment, the appropriate audit squad is built harmonizing to the demands and nature of the assignment. The audit squad can be comprises on one or two senior hearers and two or three junior hearers and the audit supervisor looks after one or more assignments at the same time. The audit squad members and their Numberss are chosen on the footing of their experience, making and extreme nature of occupation and occupation demands.

Planing Phase:

In be aftering stage, audit aims are defined and the audit testes to be used are determined. An entry meeting is scheduled for the hearers to present themselves and to go acquainted with the country to be audited. Key forces are indentified, cardinal internal controls are pinpointed, and the aims of the activity under audit are determined. An audit plan is prepared to function as a elaborate program of action for the audit scrutiny.

Field Work Phase:

The hearer so completes the testing and rating stage of the audit, referred to as the field work. During the field work, the hearer gathers and tested information, including the internal control construction and conformity with applicable policies, processs, and ordinances, to find countries which may necessitate recommendations for betterment. When the field work is completed, an issue conference is held with appropriate direction, to reexamine the audit findings, remarks, and recommendations.

Audit Report Phase:

At the terminal of each assignment, the Internal Audit / External Audit section issues a written study to the direction of the Client Company, item aims, range, and important audit findings and recommendations for betterments, to boot, as appropriate ; the consequences of their work are communicated for execution of necessary betterments.

The flow chart during audit & A ; confidence services procedure squad edifice

Audited account Supervisor

( looking after 2 or more assignments

Senior Auditor 1 or more

Junior Auditor 2 or more

As under the caput of squad edifice stage it is explained that the audit squad may consist of one audit supervisor who is straight reported to Assistant Manager Audit, one or more senior hearers whore are straight reported to scrutinize supervisor and two or more junior hearers who are answerable to senior hearers. From the above flow chart it is apparent that all the communicating has two manner procedure because the assignment is done under the squad construct and any material information sing the range of the assignment may indentified by any of the members of the squad.

The Corporate ( Secretarial ) Consultancy Services Procedure:

Capacity planning and programming for the corporate ( secretarial ) assignments:

Capacity planning and scheduling are two most of import constituents every bit for as the operations of any CA house are concerned. During the capacity planning stage at Ahmad Junaid & A ; Co. , the procedure is done by a meeting of Partner Tax & A ; Corporate with the Assistant Manger Corporate. In the meeting the figure of assignments in manus and their degree of deputation is discussed, work burden and clip restraints are besides considered. It is besides discussed in the meeting that how many assignments are in the pipe line ( treatment in continued with clients ) .

The programming procedure at Ahmad Junaid & A ; Co. , consists of a brief meeting of the Partner ( Tax & A ; Corporate with the Assistant Manager Corporate and many elaborate meetings of Assistant Manager Corporate with the Senior Auditor and Senior Auditor with Junior Auditor. In every meeting the nature, timing and extent of the assignment is discussed with the solutions of the jobs faced by the Assistant Manager Corporate, Senior and Junior Auditors.

The flow chart during corporate ( secretarial ) services procedure & A ; squad edifice

Assistant Manager Corporate

Senior Auditor

Junior Auditor

From the above mentioned houses ‘ hierarchal chart it is explained that the squad leader of the corporate consultancy section at Ahmad Junaid & A ; Co. , is the spouse revenue enhancement & A ; corporate. An adjunct director corporate plants under the supervising and coaching of the spouse revenue enhancement & A ; corporate. Under the supervising of adjunct director corporate one senior and one junior hearer works.

The departmental hierarchal chart shows that all the communicating has two manner procedure.

The Procedure:

Initial Meeting with Client

The spouse ( Tax & A ; Corporate Consultancy Services ) conducts an initial meeting with the client and determines the range of the assignment.

Communication to the Assistant Manager Corporate

After the finding the range of the assignment the spouse ( Tax & A ; Corporate Consultancy Services ) conducts a meeting with the Assistant Manager Corporate. In run intoing the spouse clearly communicate the objects and range of the assignment to the Assistant Manager Corporate and give him a complete spell caput for the assignment.

Further deputation of assignment by Assistant Manager Corporate

After the elaborate treatment with the spouse the Assistant Manager farther delegate the assignment to Senior Auditor and so the Senior Auditor to his Junior staff. The junior staff after finishing the assignment confirms to senior staff and the senior staff confirms to Assistant Manager Corporate and so it is communicated to the spouse.

The Corporate ( Secretarial ) Consultancy Services Includes:

The Corporate ( Secretarial ) Consultancy Services which are provided by the house are as under:

Complete services sing Company Incorporation with Securities & A ; Exchange Commission of Pakistan ;

Preparation & A ; filing of paperss sing Share Transfers and Gift Deeds ;

Preparion & A ; filing of paperss sing issaucne of furhter portions and increase in paid up capital ;

Preparion & A ; filing of paperss sing increaese in authorised capital ;

Preparion & A ; filing of paperss sing alteration in position of the company ;

Preparion & A ; filing of paperss sing alteration in the Memorandum & A ; Articles of Association ;

Preparion & A ; filing of paperss sing one-year return of the comamy ( portion keeping return ) and managers informaiton ;

Preparion & A ; filing of paperss sing registry a charge ( finance installation ) with the Securities & A ; Exchange Commisison of Pakistan ;

Preparion & A ; filing of paperss sing alteration of name of the company ;

Preparion of hunt studies for the Bankss and other fiscal establishments ;

The Income Tax/Sales revenue enhancement Consultancy Services Procedure:

Capacity planning and programming for the Income Tax/Sales Tax assignments:

Capacity planning and scheduling are two most of import constituents every bit for as the operations of any CA house are concerned. During the capacity planning stage at Ahmad Junaid & A ; Co. , the procedure is done by a meeting of Partner Tax & A ; Corporate with the Assistant Manger Tax. In the meeting the figure of assignments in manus and their degree of deputation is discussed, work burden and clip restraints are besides considered. It is besides discussed in the meeting that how many assignments are in the pipe line ( treatment in continued with clients ) .

The programming procedure at Ahmad Junaid & A ; Co. , consists of a brief meeting of the Partner ( Tax & A ; Corporate with the Assistant Manager Tax and many elaborate meetings of Assistant Manager Corporate with the Senior Auditor and Senior Auditor with Junior Auditor. In every meeting the nature, timing and extent of the assignment is discussed with the solutions of the jobs faced by the Assistant Manager Corporate, Senior and Junior Auditors.

The flow chart during Income Tax/Sales Tax services procedure & A ; squad edifice

Assistant Manager Tax

Senior Auditor

Junior Auditor

From the above mentioned houses ‘ hierarchal chart it is explained that the squad leader of the revenue enhancement consultancy section at Ahmad Junaid & A ; Co. , is the spouse revenue enhancement & A ; corporate. An adjunct director revenue enhancement works under the supervising and coaching of the spouse revenue enhancement & A ; corporate. Under the supervising of adjunct director corporate one senior and one junior hearer works.

The departmental hierarchal chart shows that all the communicating has two manner procedure.

The Procedure:

Initial Meeting with Client

The spouse ( Tax & A ; Corporate Consultancy Services ) conducts an initial meeting with the client and determines the range of the assignment.

Communication to the Assistant Manager Tax

After the finding the range of the assignment the spouse ( Tax & A ; Corporate Consultancy Services ) conducts a meeting with the Assistant Manager Tax. In run intoing the spouse clearly communicate the objects and range of the assignment to the Assistant Manager Tax and give him a complete spell caput for the assignment.

Further deputation of assignment by Assistant Manager Tax

After the elaborate treatment with the spouse the Assistant Manager farther delegate the assignment to Senior Auditor and so the Senior Auditor to his Junior staff. The junior staff after finishing the assignment confirms to senior staff and the senior staff confirms to Assistant Manager Corporate and so it is communicated to the spouse.

The Tax ( Income Tax/Sales Tax ) Consultancy Services Includes:

The Tax ( Income Tax/Sales Tax ) Consultancy Services which are provided by the house are as under:

Complete services sing enrollment of the Company, AOP or Individual with Income Tax and Gross saless Tax Department ;

Preparation & A ; filing of Annual Income Tax Returns of Companies, AOPs or Persons ;

Preparion of books of histories harmonizing to revenue enhancement Torahs prevalied in the state ;

Preparion & A ; filing of answers of notices issued by the revenue enhancement governments on twenty-four hours to twenty-four hours footing ;

Preparion & A ; filing of refund instances sing Income Tax and Gross saless Tax ;

Preparion & A ; filing of monthly, quarterly and yearly Income Tax/Sales Tax statements ;

Preparion & A ; showing the revenue enhancement instances before the Income/Slaes Tax governments ;

Provides complete guadiance about tax write-off and lodging the revenue enhancements ;

Complete services sing registatraion of Provident Fund Trust with the Tax Authorites

The Quality Management Process at Ahmad Junaid & A ; Co. :

To look into the quality at house degree the ICAP conducts the Quality Control Review ( QCR ) of all attached houses after every three old ages. The Ahmad Juanid & A ; Co. , has besides gone through the same procedure and has won the satisfactory Quality Control Review conducted by the ICAP in the twelvemonth of 2007.

Audit & A ; Assurance Department

The audit & A ; confidence section at Ahmad Junaid & A ; Co. , has developed really strong and effectual processs for care and developing the quality. Some of them are enlisted below:

Every squad has own audit manuals provided by the house.

Check lists for the processs for carry oning the audit.

Guaranting that all the pupils are take parting in the seminars and workshops conducted by the house or ICAP.

Making confidence that all the pupils are take parting in the hebdomadal acquisition Sessionss conducted at the house.

Income Tax/Sales Tax Consultancy Department

The Income Tax/Sales Tax Consultancy section at Ahmad Junaid & A ; Co. , has developed really strong and effectual processs for care and developing the quality. Some of them are enlisted below:

Every squad member has ain Income Tax/Sales Tax manuals provided by the house.

Check lists for the processs for carry oning the different Income / Gross saless Tax assignments.

Guaranting that all the staff is take parting in the seminars and workshops conducted by the house or ICAP.

Making confidence that all the staff is take parting in the hebdomadal acquisition Sessionss about Income Tax Ordinance, 2001 conducted at the house.

The Training & A ; Development procedure at Ahmad Junaid & A ; Co. :

Ahmad Junaid & A ; Co. , has established a really good tradition of carry oning hebdomadal acquisition Sessionss in which the engagement of all the pupils is mandatory.

The house besides supports and give the inducements to all the pupils for take parting in the seminars, workshops, presentations conducted by different Institutes particularly ICAP.

The house has developed its ain audit, revenue enhancement and secretarial procedural manuals which are distributed free of cost among all the pupils of the house.

The steadfast keeps uptodate all of the pupils sing any updates in IFRSs, Corporate Laws, Income Tax and Gross saless Tax Laws and processs.

Undertakings Performed During the Internship

Chartered Accountancy sector is the most growing sector of Pakistan and it was at 1st figure in finance filed so, I think it is a great chance for me to work with Ahmad, Junaid & A ; Co. , Chartered Accountants, Faisalabad which is good company this respect at local degree.

The Secretarial Practices ( Corporate Consultancy ) is besides a major and up turning sector in Pakistan as the investor is going more cognizant of the benefits of the corporate sector. This is an emerging and ambitious field so, I like to make my internship plan with this section at Ahmad, Junaid & A ; Co.

In my internship term of office ( 2 months ) I have worked in “ Secretarial – Corporate Consultancy Department ” . I have tried my best to heighten my abilities and use the cognition that I gain during the surveies. When I start my internship session it was the peak on the job period for the secretarial section of Ahmad, Junaid & A ; Co. , because there were three to four new companies are to be incorporated and some other undertakings are to be performed.

On my first twenty-four hours Mr. Ahmad Jabbar, the Partner, Tax and Corporate along with his Assistant Manager Corporate, Mr. Salman Khurshid gave me the complete debut about the house and so asked Mr. Salman Khurshid Assistant Manager Corporate to present me to all the pupils and other staff members present in the office at that clip.

After the completer debut Mr. Salman Khurshid arrange a tabular array for me along his side and give the waies and told me about the secretarial plants are yet to be performed or about which they are in procedure. He besides give me briefing about the Government Department, the Securities & A ; Exchange Commission of Pakistan ( SECP ) with which all of our correspondence lies.

Introduction to Securities & A ; Exchange Commission of Pakistan ( SECP )

The SECP became operational in January 1999 and has come a long manner since so. It was ab initio concerned with the ordinance of corporate sector and capital market. Over clip, its authorization has expanded to include supervising and ordinance of insurance companies, non-banking finance companies and private pensions. The SECP has besides been entrusted with inadvertence of assorted external service suppliers to the corporate and fiscal sectors, including hired comptrollers, recognition evaluation bureaus, corporate secretaries, agents, surveyors etc.

The Key and major Laws involved in the Secretarial ( Corporate ) Consultancy Process

During the all services sing Secretarial ( Corporate ) consultancy The Companies Ordinance, 1984 is applicable and to follow with. All the processs are adopted and are punctually compiled with The Companies Ordinance, 1984.

Undertakings Performed During the Internship

Different undertakings that I performed during my internship are as under:

Handiness of name of the new company from Securities & A ; Exchange Commission of Pakistan ( SECP ) .

Complete procedure of incorporation of a new private company limited by portions with Securities & A ; Exchange Commission of Pakistan ( SECP ) .

NIFT enrollment procedure for geting of digital certifications

Preparation of Memorandum & A ; Articles of Association of the company

Preparation of Form 1 – declaration

Preparation of Form 21 – registered office reference of the company

Preparation of Form 29 – List of first managers of the company

Obtaining signatures from all the endorsers to the Memorandum & A ; Articles of Association.

Submission the procedure

Addition in Authorized Capital of the company ( Grace Travel Services ( Pvt ) Ltd. ) and all the conformity of the letters issued by SECP in this respect.

Addition in Paidup Capital of the company ( Grace Travel Services ( Pvt ) Ltd. ) and all the conformity of the letters issued by SECP in this respect.

Preparation and filing of the paperss sing making and registering the mortgage and charge ( loan installation ) of the company Ghamza Sons ( Pvt ) Ltd. with SECP.

Complete procedure of alteration in the registered of the company M/s Chaudhary Express ( Pvt ) Ltd.

Software used during internship:

Microsoft Word 2007

Microsoft Excel 2007

E-Forms provided by SECP on its e-portal

The Availability of Name Process:

During my term of office of internship at Ahmad, Junaid & A ; Co. , I by myself with the small aid of the senior hearer in the secretarial section apply and obtain the name handiness of the new company HIGH COOL APPLIANCES ( PVT ) LTD. by utilizing the e-portal of the SECP.

The stepwise procedure is as under:

Login to the SECP web site for e-portal hypertext transfer protocol: //eservices.secp.gov.pk/eServices/

Make the user name and watchword by utilizing signup button on the screen

The signup signifier will open

I have filled the signifier give the needed input information in the signifier.

After the filling of subscribing up organize the electronic mail is received on the given reference for activation of the user Idaho and passward.

After the activation of user Idaho I have logged on by giving the Idaho and passward on the e-portal of SECP.

After successful login the name reserve icon will be activated and on snaping that button we will see the name reserve signifier.

After snaping on the name reserve option the signifier will open in which the information about proposed company is required to be filled.

After make fulling up the needed information e.g. proposed company name, bank subdivision for lodging the challan, name of applier and aims of the company, in the signifier we will snap on the continue button and a complete

We will snap on the challan and take the printout of it.

After lodging the challan of Rs.200/- in the relevant subdivision, we will snap on the start procedure option.

After 3 to 4 yearss the missive and electronic mail sing handiness or non handiness will be issued by the SECP.

As respect the handiness of name which I have applied ( High COOL APPLIANCES ( PVT ) LTD. was available and the electronic mail and missive issued by SECP is as below:

The NIFT Registration Process

After the handiness of name, the enrollment from NIFT is required for digital signatures of all the proposed managers and endorsers to the Memorandum & A ; Articles of Association.

Along with duly filled form the transcript of CNIC of the applier and the transcript of handiness of name both punctually attested by the Oath Commissioner is required to be submit to NIFT, Karachi Office.

The NIFT application signifier is as under:

The NIFT will e-mail the passcode for the installing of each digital certification and it will put in in the Explorer of the Windows.

The Preparations of Forms

After the successful installing of the digital certifications, we will once more login through Idaho and watchword the will finish the remainder of the procedure for incorporation of the new company and make full out the undermentioned signifiers.

Preparation of Memorandum & A ; Articles of Association – Attached as ( Annexure I )

( Memorandum means and refers to the fundamental law of the company and Articles of Association agencies and refers to the regulations and ordinances of the company ) .

Form 1 – attached as ( Annexure II )

Form 1 agencies and refers to the declaration and project

Form 21 – attached as ( Annexure III )

Form 21 includes the information sing the item of registered office reference of the company, phone Numberss, facsimile Numberss and electronic mail references.

Form 29 – attached as ( Annexure IV )

Form 29 includes the information sing the managers of the company.

Except the Memorandum and Articles of Association all the remainder signifiers as mentioned above are prepared in the login of the company by utilizing e-portal.

The Id cards along with a informant Idaho cards are to be attested from Oath Commissioner and handiness of name missive and attested id cards of all the endorsers are to be attached with the attachment topographic point provided on the signifier.

After the fond regard of Memorandum and Articles of Association the challan of enrollment fee and filing fee is to be printout and be deposited in the MCB s ‘ any subdivision.

The enrollment fee will be consequently to the Amount of Authorized Capital of the company.

After lodging the challan we will subject the procedure

After scanning of the paperss by SECP, the Incorporation is certification is issued by the SECP section.

The Increase in Authorized Capital of the Company

During my internship term of office at Ahmad, Junaid & A ; Co. , I have besides worked and gone through the complete procedure of addition in authorised capital of the company of M/s Grace Travels Services ( Pvt ) Ltd.

The procedure of addition in authorised capital can be completed by two different ways ;

Offline entry

Online entry

We have followed and adopted the offline entry method besides uses the on-line procedure method.

First the prescribed signifier 7 ( Annexure V ) be filled and obtained signatures from the relevant manager or main executive of the company.

The Amended Memorandum & A ; Articles of Association for the Capital Clause duly signed by the Chief Executive of the company is to be attached.

The paid challan of enrollment fee for the sweetening of the capital is to be enclosed.

Along with all the above paperss the application for the sweetening of the capital is to be filed with SECP.

On the testing the all the paperss SECP will publish the missive for the sweetening of capital.

This all procedure can be completed through on-line entry installation provided by the SECP by extra following stairss:

Application to NIFT is to be needed to register for digital certification ( Annexure VI )

The fond regard of scanned signed amended Memorandum & A ; Articles of Association is needed.

The Increase in Paidup Capital of the Company

During my internship term of office at Ahmad, Junaid & A ; Co. , I have besides worked and gone through the complete procedure of addition in Paidup capital of the company of M/s Grace Travels Services ( Pvt ) Ltd.

The procedure of addition in authorised capital can be completed by two different ways ;

Offline entry

Online entry

We have followed and adopted the offline entry method besides uses the on-line entry method.

First before the farther issue of portions it is mandatory to publish the prescribed handbill ( Annexure VII ) to all the members of the company and is to be filed with SECP.

The prescribed signifier 3 ( Annexure VIII ) be filled and obtained signatures from the relevant manager or main executive of the company.

The challan of registering fee of Rs.200/- is needed to be deposited and filed with SECP.

Along with all the above paperss the application for the recording of the farther issue of portions is to be filed with SECP.

On the testing the all the paperss SECP will publish the missive for the recording of the farther issue of portions.

This all procedure can be completed through on-line entry installation provided by the SECP by extra following stairss:

Application to NIFT is to be needed to register for digital certification ( Annexure VI )

The fond regard of scanned signed handbill is needed.

The Registration of Mortgage and Charge with SECP

During my internship term of office at Ahmad, Junaid & A ; Co. , I have besides worked and gone through the complete procedure of enrollment of the Mortgage / Charge of M/s Ghamza Sons ( Pvt ) Ltd. with SECP.

First the Form 10 is to be filled and obtained signatures from the Chief Executive or any manager of the company ( Annexure IX ) .

An affidavit in favor of SECP is to be enclosed.

The mortgage or charge making papers ( Annexure X )

The challan of Rs.7,500/- being enrollment charges is to be deposited and submitted with SECP along with the other paperss.

Along with all the above paperss the application for the recording of the mortgage/charge is to be filed with SECP.

On the testing the all the paperss SECP will publish the missive for the recording of the mortgage or charge.

The Registration of Change in Registered Office Address of the Company With SECP

During my internship term of office at Ahmad, Junaid & A ; Co. , I have besides worked and gone through the complete procedure of enrollment of Change in Registered Office Address of M/s Chaudhary Express ( Pvt ) Ltd.

First the Form 21 is to be filled and obtained signatures from the Chief Executive or any manager of the company ( Annexure XI ) .

The challan of Rs.1,000/- being registering fee is to be deposited and submitted with SECP along with the other paperss.

Along with all the above paperss the application for the recording of the alteration in registered office reference of the company is to be filed with SECP.

On the testing the all the paperss SECP will publish the missive for the recording of the alteration in registered office reference of the company.

The Problems/Issues with the Secretarial ( Corporate Consultancy ) Department at Ahmad Junaid & A ; Co. :

During my internship term of office at Ahmad, Junaid & A ; Co. , Chartered Accountants, Faisalabad I have studied the complete operations of the houses and particularly ascertained and happen the major issues/problems faced by the Secretarial ( Corporate ) Consultancy section.

The issues / jobs which I have observed are as under:

There is merely one lasting employee i.e Assistant Manager Corporate the other two are the trainee pupils of the house. The trainee pupils do non trouble oneself and make non take the work every bit much serious as a lasting employee can. Issues of sloppiness of the trainee pupils are observed due to which much work is suffered and clip hold issues are frequently faced.

There are no proper manuals and procedural guidelines available to the trainee pupils for the public presentation of the secretarial – corporate assignments.

There is no proper preparation and counsel Sessionss conducted at the house degree to heighten the abilities of the trainee pupils.

There is really rare cross citing made by the trainee pupils with the Companies Ordinance, 1984.

There is really feverish and undue force per unit area and emphasis working environment provided to trainee pupils every bit good as to the Assistant Manager Corporate.

The Over All Problems/Issues at Ahmad Junaid & A ; Co. :

By sing and detecting the overall environment at Ahmad Junaid & A ; Co. I have observed the following major problems/ issues:

There is hold in rotary motion of pupils on the assignments. I have observed that the trainee pupils have spent most of their preparation period on one drawn-out assignment. In this instance the growing of the pupils has stopped and they can non larn every bit much as they can.

As the consequence of non rotary motion there is fuss created among the pupils and it can be the major issue/problem for the growing of the house in close hereafter if the proper policies are non made.

Conclusion & A ; Recommendations

Recommendations:

Followings are my recommendations for Ahmad, Junaid & A ; Co. to increase the quality of service:

There should be the lasting employees to be hired in the secretarial section because the nature of the work is really sensitive and needed more attention.

There should be some proper on the job manuals and procedural usher line as respect the secretarial ( corporate consultancy section ) needed to be developed by the top direction and should be available to the staff and trainee pupils of the same section particularly and besides for the audit & A ; confidence and revenue enhancement consultancy sections.

There should be workshops and preparation Sessionss conducted on the steadfast degree every bit good as the compulsory for staff and trainee pupils to go to other presentations and seminars conducted by the other professional organic structures.

The top direction of secretarial section should get down the survey agendas for the trainee pupils about the relevant subdivisions from The Companies Ordinance, 1984 and their practical pertinence.

The undue on the job force per unit area should be minimized by the top direction of secretarial section to take the full inputs from the staff and trainee pupils.

By sing and detecting the over all environment at Ahmad, Junaid & A ; Co. , I besides suggest that the upper direction of the house must revolve the pupils on monthly or quarterly footing for the better growing of the company and besides of the pupils. From this rotary motion all the pupils will avail equal opportunities of larning from the different assignments and the component of acquiring bored from the assignment can be eliminated.

I besides suggest that learn to your client foremost. Truly listen to them – inquire what your can make to assist them. This is the most of import measure in forestalling jobs and the lone manner you can work out ailments if they come up.

Establish an environment where great service is recognized and rewarded and hapless service is challenged and rectified.

Have fun staff meeting where good service elements are discussed and function played.

Look outside the box and employ people who have a love of service – people with small experience in your field.

Decisions:

In decision comments I would wish to state something that Ahmad, Junaid & A ; Co. , is the profitable organisation. Ahamd, Junaid & A ; Co. , has played really critical function in his field by supplying attractive service and bundles to the clients under one roof.

I have done internship in Ahmad, Junaid & A ; Co. , for a period of two months and this period is quiet a little period of clip yet I have learnt a batch. Here I apply my cognition and acquire a proficient pattern of my cognition. Now I know about the environment and organisation and how to pass on with co-worker and foreman. I learn that how to utilize theoretical cognition in organisation.

My Communicationss accomplishments are improved. My determination devising accomplishments and power is improved. Any internee like me has a good alteration of larning new things and techniques and increases his assurance.

Now I have the advanced cognition and analytical and job work outing accomplishments needed to be genuinely effectual portion of today s ‘ corporate environment. I can state that Ahmad, Junaid & A ; Co. , add a great value in my professional life.

Cite this Personal Reflection On Ahmed Junaid And Co Accounting

Personal Reflection On Ahmed Junaid And Co Accounting. (2016, Nov 24). Retrieved from https://graduateway.com/personal-reflection-on-ahmed-junaid-and-co-accounting-essay/

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