Financial Management & Taxation

2 DAYS- FINANCIAL MANAGEMENT AND TAXATION

With the growing demand for energy and a challenging external financial enviornment, this course responds to the need of non-finance professionals. This  hands-on practical course gives non-financial managers and senior professionals an understanding of accounting and financial essentials. Participants will become more aware of the financial impact of their decisions and their contribution to the profitable operation of the comapny. They will acquire the financial tools needed to effectively plan, budget and control an organization, whether they manage a department or the entire company

FINANCIAL MANGAGEMENT

1. Public Financial Management

• The role and objectives of Public Financial Management within the context of Pakistan.
  
• Budget as a tool of Public Financial Management
  
• The role and types of budgeting system and criteria of resource allocations.
  
• The mechanism of budget execution
  
• The mechanism of expenditure evaluation.
  
• The critical appraisal of national budgeting system within the context of global financial models.
  

2.  Corporate Financial Management and its budgeting system.

• Principles of economic efficiency.
  
• Compensation management
  
• Restructuring of financial/Non financial resource distribution system.
  
• The interpretation of Balance Sheet and financial statement in the light of management concepts. (For Non-Financial Managers also).
  

DIRECT TAXATION AND INTERNATIONAL TAXATION

• Personal taxation
  
• Company taxation
  
• Various Tax exemption guaranteed to petroleum companies.
  
• How can we reduce our tax liabilities?
  
• Withholding tax regimes.
  
• How to fill the Income tax forms., wealth statement and annual expenditure statement
  
• The concept of concealment in Income Tax Laws.
  
• Concept of Depreciation on Petroleum Taxations.
• Concept of Refund and its applicable provisions.
• The Penal Provision of Tax Laws
• Recovery laws of taxation.
• Taxation on Joint Ventures.
• Taxation of Property and Capital Gains

•  Avoidance of Double Taxation Treatises and its application.
  
• The Concept of Transfer Pricing.
  
• The principles of International Taxation & Its futuristic prospect
  

INDIRECT TAXATION

Sales Tax

• Sales Tax Provisions, its role and application on retail and whole sales.
  
• Sales tax and its Refund Scheme.
  
• Sales tax as future taxation as part of Value Added Tax.
  
• Sales tax and its recovery laws.
  
•  Sales Tax Act and its penal Provisions.
  

Customs Act

• Concept of Custom duties and its levies upon Exports and Imports.
  
• Custom duties and its application especially with respect to petroleum machinery etc.
  
• Concessional regimes under Custom AcT.
  
• Recovery under Customs Act.
  
• Studies of various formats /forms under Custom Act
  
• Refund system under Custom act.
  
• Appellate system under Custom Act.
  
• Customs Act and its Penal Provisions
  

This 2 day course has been designed specifically for  non-finance specialists in the oil and gas industries who need to understand the financial  implications of the work they do.