Professional Documents
Culture Documents
Partnership Firm in Pakistan
Partnership Firm in Pakistan
Partnership Firm in Pakistan
FINANCIAL ACCOUNTING
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Registered Partnership Firm
Acknowledgment:
Last but not least I would like to thank my friends and class
fellows of MBA (AIOU) especially those who work together in 2nd
Assignment.
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Registered Partnership Firm
Abstract:
A partnership is an arrangement where entities and/or
individuals agree to cooperate to advance their interests. In
the most frequent instance, a partnership is formed between one
or more businesses in which partners (owners) co-labor to
achieve and share profits or losses.
Partnerships are also frequent regardless of and among sectors.
Non-profit organizations, for example, may partner together to
increase the likelihood of each achieving their mission.
Governments may partner with other governments to achieve their
mutual goals, as may religious and political organizations. In
education, accrediting agencies increasingly evaluate schools by
the level and quality of their partnerships with other schools
and across sectors. Partnerships also occur at personal levels,
such as when two or more individuals agree to domicile together.
Partnerships between governments, interest-based organizations,
schools, businesses, and individuals, or some combination
thereof, have always been and remain commonplace.
Partnerships have widely varying results and can present
partners with special challenges. Levels of give-and-take, areas
of responsibility, lines of authority, and overarching goals of
the partnership must all be negotiated. While partnerships stand
to amplify mutual interests and success, some are considered
ethically problematic, or at least debatable. When a politician,
for example, partners with a corporation to advance the
corporation's interest in exchange for some benefit, a conflict
of interest may make the partnership problematic from the
standpoint of the public good. Developed countries often
strongly regulate certain partnerships via anti-trust laws, so
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Registered Partnership Firm
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Topics Page No
Structural Problems 9
Conclusion 15
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Registered Partnership Firm
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History:
Late Mr. Mehboob Elahi established Asian food Industries in 1969
with an objective to produce "international quality"
confectionery products in Pakistan. Through sheer hardwork, fair
business dealings and unmatched quality products, Mr. Mehboob
Elahi succeeded in making Asian Food Industries the undisputed
market leader in Pakistan.
Mr. Jawed Iqbal, son of Mr. Mehboob Elahi, joined the group in
mid seventies Modern education and a broad western exposure,
assisted Mr. Jawed Iqbal in modernising and further expanding
business. His deep business insight and effective marketing
methodologies are his major strengths. His immense experience
led him to set up, He thought of setting up a spinning unit. The
group again worked with utmost zeal and devotions and finally in
1993, Mayfair was installed and started giving fruitful results.
Recently, Mr. Jawed Iqbal's son Mr. Shahid Iqbal has joined the
group. He has been trained extensively in the United states and
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2. Soft Chew
3. Hard Boiled Candy
4. Toffee
5. Bubble Gums
6. Biscuits
SWOT Analysis of Mayfair:
Opportunity & Strengths:
• Retain your Best Managers
• Increase Top Line Business.
• Increase Bottom Line Profits.
• Grow and Develop Mayfair.
• Significantly Increase Sales Revenue.
• Increase Market Share.
• Reduce Overhead Labour Costs.
• Reduce Recruitment Costs.
• Have a Focused Cost Effective Labour Force
all Pulling Together.
Weakness & Threats:
• Focus on limited brands:
• Lack of advanced technologies:
• Old training methods of training:
• Less annual increments of employee salaries:
• No annual bonus system:
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Registered Partnership Firm
The two basic methods for assigning value to inventory are the
absorption costing and variable costing methods in Mayfair. With
these two methods of cost accounting, various expense costs
related to the manufacturing process are assigned to the
inventory value. The expenses used to value inventory are not
reported on the income statement. Instead the expenses are
deducted from total revenue as they are sold to determine gross.
Conclusion:
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Registered Partnership Firm
Using its Activity Based Process Model you can build cost models
of even the most complex manufacturing processes and, because
the system understands the business logic of how activities,
materials and components are consumed, are accumulated and
profitability eroded by non value added activities during the
manufacturing, sale and distribution process of Mayfair.
Assigning inventory values to finished goods will also differ
depending on inventory valuation methods in Mayfair.
Using the variable costing method will exclude the fixed costs
associated with production.
Recommendations:
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Registered Partnership Firm
References:
http://www.freehills.com.au/4811.aspx
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Registered Partnership Firm
http://sbinformation.about.com/cs/ownership1/a/LLC.htm
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