Skip to main content

Skill Gap in Accounting - Nepalese Context

Its not only Nepal but big countries like USA are also facing the Skill Gap in Accounting. No matter how big and sophisticated your profession is, there is always an opportunity to evolve to the dynamic market environment. My last article was about how we can fill those gap in Nepal by introducing curriculum in universities considering what market needs.

You can go through article, provided on the link below, to understand what kind of skills gap USA  has and what authors articulate potential solution. One thing to highlight, though, is he also agrees on the fact that we need an integrated approach between curricula, competencies, and training that aligns with the way business is actually conducted for sustainable value creation.

More on the link below: 

https://www.cpajournal.com/2017/10/06/accounting-profession-committed-closing-skills-gap/
(Article By: Jeff Thomson, CMA, CAE is president and CEO of the Institute of Management Accountants, Montvale, N.J.)

Comments

Most Viewed

Tax Collection Agency codes for IRD Offices all over Nepal

Inland Revenue Department Nepal has published the agency codes that shall be used for the collection of direct and indirect taxes for the general public's information. Each code consists of 9 numbers. There are in total 59 agency codes currently in use. From these codes, we can classify that there are four types of IRD offices currently in operation. 1) Inland Revenue Office 2) Tax Payer Service Office 3) Large Tax Payer Service Office, and 4) Medium Tax Payer Service Office When shall you use these codes? It shall be used while choosing the agency where the tax should be deposited while completing the form for depositing the taxes. Agency Code list below: S.N. Agency Code Name Address 1 305011620 Inland Revenue Office Lahan 2 305030201 Tax Payer Service office Phidim 3 305030301 Tax Payer Service office Illam 4 305030401 Tax Payer Service office Khandbari 5 305030601 ...

Filing Taxes in Nepal with Both Salary and Business Income: A Practical Guide

Many individuals in Nepal find themselves in a situation where they earn income from a salaried job while also running a small business. This can lead to confusion about how to file taxes correctly. One common question I recently received highlights this perfectly. The Question (प्रश्न) In Nepali (नेपालीमा): मेरो बाबाको व्यवसाय पान पसल हो। मेरो बाबाले अर्को कम्पनीमा काम पनि गर्नुभएको छ। त्यसैले उहाँको तलब आय र व्यवसाय आय दुवैको कर कसरी तिर्नुपर्ने हो? केही आइडिया भए सुझाव दिनुहोला है। In English: My father runs a betel nut (pan) shop as a business. He also works at another company. So, how should he pay tax on both his salary income and his business income? Please suggest if you have any idea. The Expert Opinion: How to Handle Dual Income and Which Form to File Thank you for this important question. Your father's situation is quite common, and the answer hinges on understanding which tax return form applies. Let me clarify the process step by step. 1. Calculating Total Taxable Inco...

Informants Reward Program under Nepalese Income Tax Act

We see lots of posts on Facebook, Instagram, and TikTok around how to become a millionaire or billionaire. Most of them repeat the same thing; start your business, begin investment early, get into the real estate flipping business, be a stock trader, etc. I don't think there is anything new there. We have heard these since we were young. At least, me. Let us talk about something new today. And, believe me, everything we will be unrevealing here is 100% legal. Yes, it is possible to become a millionaire. You must be wondering how? All you have to do is catch some bad dudes trying to evade or have evaded taxes and report to the Inland Revenue Department. Yes, stop wondering about jobs, start your own hustle, work as an informant to the tax office. It will help you get substantial rewards. However, you should be careful, do remember that sharing false information can also get you in trouble. Who can inform and how?  An informant can be an individual or group of people who give particu...