What to ask in a job interview?

Your questions must show your own thought process.
What are the organization's/company's strengths and weaknesses compared to its competition?
How does upper management view the role and importance of this department and this position?
What is the organization's plan for the next five years, and how does this department fit in?
Could you explain your organizational structure?
What do you most enjoy about your work with this organization / company / agency?
How have various types of decisions been made?
What are the various ways employees communicate with one another to carry out their work?
How will my leadership responsibilities and performance be measured? By whom?
What are the day-to-day responsibilities of this job?
Could you describe your company's management style and the type of employee who fits well with it?
What are some of the skills and abilities necessary for someone to succeed in this job?
What is the company's policy on providing seminars, workshops, and training so employees can keep up their skills or acquire new ones?
What particular computer equipment and software do you use?
What kind of work can I expect to be doing the first year?
What percentage of routine, detailed work will I encounter?
How much opportunity is there to see the end result of my efforts?
How and by whom will my performance be reviewed? Are there specific criteria upon which I would be evaluated? And how frequently is formal and informal review given to new employees?
How much guidance or assistance is made available to individuals in developing career goals?
I read on the company / organization / agency website that employees have recently done presentations at XX conference. Is that a typical opportunity in the job for which I am interviewing? Are there specific professional organizations employees have been encouraged to join?
How much opportunity will I have for decision-making in my first assignment?
Can you describe an ideal employee?
What is your organization's policy on transfers to other cities?

Australia Election-21 st August 2010

Australian voters will cast ballots Saturday in their most closely contested election in years.

The final polls showed Prime Minister Julia Gillard, the head of the Labor Party, in a virtual tie with the leader of a Liberal Party-led coalition, Tony Abbott.

If she wins, Ms. Gillard will be Australia's first woman to be elected as prime minister. She replaced Kevin Rudd as Labor leader two months ago amid dwindling voter support for the ruling party.

Ms. Gillard has argued that Labor's economic policies brought the country through the global recession better than other developed countries. But Mr. Abbott says the party squandered public money on lavish stimulus programs.

The two candidates also disagree on a proposed mining tax and the composition of a new telecommunications infrastructure.

Ms. Gillard has faced a series of political hurdles, including opposition to the proposed mining profits tax, continued weakness in the economy and animosity from some party members for ousting Mr. Rudd.

During the last day of the campaign Thursday, she praised the government's investment in public services such as health, education and the national broadband network.

Finance Bill 2010-Bangladesh

PROPOSED CHANGES IN INCOME TAX LAW
BY
FINANCE BILL-2010
SHORT POINTS FOR DISCUSSION

1. By amending 32(7), exemption of capital Gain from sale of shares of companies listed in
Stock Exchange is withdrawn without any exception.

But exemption of Capital Gain from Sale of Govt. Securities Continues [So 32 (7)] as
before.

This exemption as per 8udget Speech must be specifically incorporated in the Act in order
to avoid dispute because exemption will not be allowed unless there is Specific provision
for same.
Sponsor share holder or Director of companies listed in the stock exchange required to take
prior consent of Securities & Exchange commission for transfer of their shares and it is
now provided that the securities & Exchange comm ission shall collect tax @5% on excess
of transfer price over face value, i.e, capital Gain on Sale of Shares form Sponsor
Shareholder or Director at the time of giving consent to said transfer of share and that the
taxes so collected shall be final discharge of tax liability. This provision will not apply to
the shareholders other than sponsor shareholder or Director as they do not require to take
consent of SEC for transfer of shares.
3. Share premium has been made subject to collection of Tax @3% of premium by Securities
& Exchange Commission and the Tax so collected shall be final discharge of tax liability
(S. 531. & 82C).
4. Withdrawal of benefit of declaration of undisclosed Income (Special Tax Treatment) in the
following cases:
S. 19
S. 19/\/\
Invcstmcnt in ncw industry
Invcstmcnt in Balancing, ModcrnisaLions, rcnovation, cxtcnsion, dc of
Industry.
Investment in stocks & Shares
Investment in I-louse property
S.19/\/\/\
S. 19B13BB
5. /\s per newly inserted section 19C, sources of fund will not be questioned of any sum
invested in the purchase of Bond Issued by Infra structure Finance fund on Payment of Tax
@1 0% before filing of Return.
6. Benefit of depreciation will be allowed on bridge or road or fly over owned by physical
Infrastructure undertaking.
7. Tax free Limit of Excess perquisite is increased from Tk. 2 lacs to Tic 2,50,000 as per S.
30 (e).
Energy Saving Bulb
Solar Energy Pancl,
Barrier Contraceptive
Or Rubber latex
9. New condition of Tax holiday is to obtain a clearance certificate from Directorate of
Environment.
From 7.5% to 15% Commission to a Stevedoring Agency or making
payment to a private Security Service Agency
\
From 0.25% to ]% Collection of Tax from Member of Stock Exchange
Brick Field:
From TIc] 0,000 to Tic 30,000 for one Section Brick Field.
From TIc 12,000 Tic 45,000 for one & hal l' Section Brick Field and for
two Section Brick Field Tk. 60,000 for three Section Brick Field.
From 4% t 7.5% Commission or remuneration paid to Agent of Foreign
byeI'.
13. President of Tribunal [(So ] 1(4)]
Existing Provision: From one of the Members of Tribunals.
Proposed : From a member of the Board or holds Current charge of a member of the
Board.
14. Equity received by a Private Limited Company or Public Company NOT listed with a
Stock Exchange at the time of increase in paid up capital by issuing shares shall be treated
as Income from other sources of issuing company if said equity is not received by crossed
change of Bank transfer:
Existing Provision is to make similar treatment in the case of all equity but it is now
proposed as above which means this new provision will not apply to Equity other than
equity other than raising capital reS. 19 (24)1
New withholding Tax @1% on compensation against acquIsItIon of property by Govt.
where immoveable propert-y is situated outside any city corporation, Paurashava or
Cantonment Board.
Existing provision to collect Tax @2% on compensation for requisition of immoveable
property situated within the jurisdiction of city corporation, Paurashava or Cantonment
Board (S. 52C) will conti nus.
~~
Withdrawal of~r~a~ exemption from deduction of Tax at source from Interest on savings
eerti fieates. Tlili exem ption was 1,ither to appl icable to :
a) Total Interest not exceeding Tic 1,50,000 in any income year.
b) Interest on saving eerti ficates purchased before 01.01.2004.
[I st & 2nd provision to S. 520]
The existing exemption will, however, continue in respect of interest on saving certificates
purchased by an approved superannuation Fund or Pension Fund or Gratuity Fund or
recogni/.cd Provident Fund or a Workers Profit Participation. Fund.
17. Increase in the amount of Tax to be collected at the time of registration of building or
apartment from the transferer who is engaged in real estate or Land Development
Business.
(i) Tic 20,000 per square metre in the eases of Building or apartment situated at
Gulshan Model Town, Banani, Baridhara, DOHS, Dhanmondi RIA, Lalmatia Housing
Society, Uttara Model Town, Bashundhara RIA, Dhaka Cantonment Area, Dilkushak
CIA, Karwan Bazar CIA of Dhaka, Khulsi RIA, Panehlaish RIA and Agrabad of
Chittagong.
18. Withdrawal of exemption from deduction of Tax on Interest on deposit of post office
saving account. This exemption was applicable where total amount of interest does not
exceed Tk. 1,50,000 during the year (S 531)
This provision will now be applicable where total Income as per latest assessment exceeds
Tic 4 lacs as against prcscnt limit ofTk. 3 lacs.
As per amendmcnt made in S.64, advance Payment of Tax will also be applicable to
capital Gain from sale of shares of companies listed in Stock Exchange.
20. Advance paymcnt of Tax by new assessee as pcr S. 68.
21. Interest on short paymcnt of~Advance Tax U/S 73 is to be now calculated from the 1st day
of April instcad of existing 1st day of July.
22. The cxtension oftimc for filing Income Tax return U/S 82BB (Univcrsed Self Assessmcnt)
has now become availablc ..
At present, no such extcnsion is available. The consequential amendment is also made is
S.82BB(2). .
23. Pcnalty NOT excceding Tk. 20,000 for using Fake TIN. (New S. 124A)
24. Punishment for using Fake TIN in addition to penalty noted above (New S. l65A)
25. TIN Certificate will now be required in the following cases U/S 184 (A) (q) (r) (s) :
(a) Application for commercial electrical & gas connection in a city corporation,
paurashava on cantonmcnt Board.
(b) Rcgistration, change of ownership or renewal of Fitness of a bus, Truck, Prime over,
lorry, etc plying for hire.
26. Withdrawal of Exemption of Interest or profit form pensioners' sav1l1g certificate
(6th Sched ule, Part A, Paragraph 41)
27. Withdrawal of Tax exemption to production ofpelleted poultry feed and the bcnefit of Tax
exemption to Income from Fisheries will not be applicable ifit is owned by a company.

Football history in Brazil

Brazil is well known for its Carnival, its Beautiful Women and Football.

Whereas the first two of these items are bedded in early historical and cultural roots the third is much more recent dating back to the end of the last century.

It is a tale of true sportsmanship and ideals of adventure and of course good fortune ... and starts with an expatriate named Miller who worked on the railway construction project in Sao Paulo together with some 3000 other immigrant families from the British Isles in the last decades of the 19th century. At that time the population of Sao Paulo City was 300,000. This was the golden age of industrial development. Today Sao Paulo is the third largest in the world with over 10 million inhabitants.

Back to Mr. Miller who decided to send his young boy Charlie to England for a good all-round education. Charlie aged 10 soon after duly arrived at a school in Southampton called Bannisters in 1884. This was the beginning of a soccer apprenticeship by Brazil’s first player. Charles was a natural who quickly picked up the arts of this popular college game in England.

The football association was being formed at the time. Eton, Rugby, Charterhouse and other colleges all had developed their own rules to the game. Indeed Rugby refused to drop the ball handling and went on to devise their own separate game.

The game was also played in different styles about the country. In the south where the ground was hard and dry a dribbling game developed in which a quicker football was played with less passes. This was contrary to the passing game more popular up north where it was practised on muddy fields at a slower pace.

Young Miller therefore became skilled at the dribble, swerve, feign, use of rapid speed as well as in taking freekicks and heading. As an accomplished winger and striker he held school honours that were to gain him entry first into the Southampton Club team and then into the County team of Hampshire.

In 1892 a couple of years before his return to Brazil, Charlie was invited to play a game for the Corinthian Football Club a team formed of players invited from public schools and universities. This Club played football using the Greek Olimpian spirits of true sportmanship in the purest form. If a penalty was conceded by the team the goal keeper would not try to defend it. They were a team of ambassadors to the game that toured around the world and remain up until today where they play still under the Corinthian Casuals name, as amateurs.

On his return Charles brought some football equipment and a rules book with him. He then went on to develop the new rules of the game amongst the comunity in Sao Paulo.
In 1888 six years before his return the first sorts club (picture right) was founded in the City. SPAC, Sao Paulo Athletic Club. (Today SPAC Club is the location for the meetings of the Round Table No. 1 Sao Paulo on each third Tuesday night).
So it was then that the first clubs were formed in Sao Paulo. At the turn of the century. SPAC won the first three years championships. Miller’s skils were far and above his colleagues at this stage. He was infact given the honour of contributing his name to a move involving a deft flick of the ball with the heel "Chaleira" which today is still a marvel to see as practised by the skillful ball players of the local and national teams. Indeed the skills of such players as Rivelino, Socrates and the greatest of them all Pele, owe no small debt to the exploits of this poneer in Sao Paulo of modern day football and particularly the skilful dribbling game.

This story has many other historical curiosities amongst which one was the bond that Charles Miller kept with English football throughout his life. Teams from Southampton and Corinthians Club came over to Brazil and played against SPAC and other teams in Sao Paulo. One on occasion in 1910 a new local team was about to be formed after a tour of the Corintians team to Brazil and Charles was asked to suggest a name for the team. He replied why not call yourselves after Corintians and so it was that one of the most popular clubs in Brazil got its name. A team that today is Brazilian Champion (2005) and boasts great names amongst its past and present players.

A final anecdote to relate concerns the year 1988 when SPAC Club celebrated its centenary and the English Corintians Team came across again to play them at Morumbi Stadium. The end of the tour was a classic against the local professional Corintians paulista team with Socrates and Rivelino amongst its players. This game was played at Paecambu Stadium in Sao Paulo and true to Corinthian principles of good clean football the score was 1 to 0 in favor of the locals when as agreed Socrates changed shirts to play alongside the English amateurs. This did not affect the score unfortunately although a largely packed stadium was cheering on for a drawn result.

So there it is now told " with acknowledgement to others who have researched the story from the SPAC Club in Sao Paulo " and now relayed via the Round Table network to all who browse the web.

Let it not be forgotten that the game was invented to be played at the highest of ideals and such deft ball skills were duly brought to Brazil where they were to be uniquely grafted into purest golden treasures to be seen and held in wonder by all later generations until this day.

Details of ICAEW Exam & Membership for ICAB Members

http://www.icaew.com/index.cfm/route/171219/icaew_ga/en/Qualifications/Train_for_the_ACA/ACA_international/Bangladesh/ACA_in_Bangladesh

Members of the Institute of Chartered Accounts of Bangladesh (ICAB) are eligible to join the ICAEW. Below are details of your entry requirements and how to apply for ICAEW membership. Once you have joined the ICAEW, you will be entitled to use the designation 'ACA'.

o Minimum entry requirements
o How to join
o Benefits of joining
o STE programme
o Tuition and exams
o Practicing certificate
o Memorandum of Understanding

Minimum entry requirements
Members of the ICAB who have obtained membership by complying with its training and examinations requirements can become a member of the ICAEW. You must maintain ICAB membership to continue to be eligible for ICAEW membership, and comply with our CPD regulations and Code of Ethics.

ICAB members must pass ICAEW’s final three examinations:
• Technical Integration - Business Reporting
• Technical Integration - Business Change
• Case Study

You must also complete ICAEW’s Structured Training in Ethics which is an online programme accessed via the ICAEW website.
How do I join the ICAEW?

To become a member of the ICAEW you must complete the following steps:
• 1. Register with the ICAEW
• 2. Purchase learning materials for required examinations
• 3. Undertake tuition
• 4. Register for your examination(s)
• 5. Sit and pass the examination(s)
• 6. Complete the Structured Training in Ethics Programme
• 7. Apply for ICAEW membership

1. Register with the ICAEW
ICAB members must register with the ICAEW to become eligible to join the ICAEW.

What do I need to include with my application?
Submission of application must include:
• Personal details
• Proof of membership
• Proof of good standing
• Confirmation of ICAB CPD compliance

Where do I send my application?
Please return your completed form and supporting documentation to:
Membership Applications
Finance Department
ICAEW
321 Avebury Boulevard
Milton Keynes
United Kingdom
MK9 2FZ

Or email it to applications@icaew.com

Registration costs
o Registration fee
o £ 165.00
•
o Credit for Prior Learning Fees
o £ 0 – Fees waived for 2010

2. Purchase learning materials for required examinations
ICAB members are required to complete the Technical Integration Business Reporting, Technical Integration Business Change, Case Study and Structured Training in Ethics (STE) in order to be eligible for ICAEW membership.

Tuition
ICAB members in Bangladesh
For ICAB members located in Bangladesh tuition will be available in due course. Class information will be updated on this page shortly. If you would like to receive an alert to advise you of the tuition arrangements as soon as they are available, please register your interest.

• Register to receive alert about tuition arrangements
ICAB members outside of Bangladesh
If you are an ICAB member now located outside of Bangladesh, please refer to our tuition pages for a full list of UK and international tuition providers.
Learning materials

Learning materials are available to purchase from www.gillards.com/icaew
Cost of learning materials
•
o Technical Integration
o £140 plus postage and packing (study pack covers both modules)
•
o Case study
o £70 plus postage and packing

For further information, please visit the learning materials area of the website.

Exams

ICAB members in Bangladesh
Exams are held at the British Council. Further details will be available when you apply for an exam sitting. Please note the 1st examination sitting available to ICAB members in Bangladesh is November 2010.

ICAB members located outside of Bangladesh
A full list of UK and international exam centers can be found on the downloadable Examination Entry Form (PDF 95kb/5 pages) or once you have registered will be available on the Exam Applications Online section. The Advanced Stage exams are held in July and November.

Register for exams
You will be required to register for your exams online.
• How to apply for ACA exams
• Dates and deadlines of ACA exams

Cost of exams
o Technical Integration papers
o £155 each per sitting
•
o Case study
o £240 per sitting

3. Undertake tuition
ICAB members are required to complete the Technical Integration Business Reporting, Technical Integration Business Change, Case Study and Structured Training in Ethics (STE) in order to be eligible for ICAEW membership.

Tuition
ICAB members in Bangladesh
For ICAB members located in Bangladesh tuition will be available in due course. Class information will be updated on this page shortly. If you would like to receive an alert to advise you of the tuition arrangements as soon as they are available, please register your interest.
• Register to receive alert about tuition arrangements

ICAB members outside of Bangladesh
If you are an ICAB member now located outside of Bangladesh, please refer to our tuition pages for a full list of UK and international tuition providers.
Learning materials

Learning materials are available to purchase from www.gillards.com/icaew

Cost of learning materials
•
o Technical Integration
o £140 plus postage and packing (study pack covers both modules)
•
o Case study
o £70 plus postage and packing

For further information, please visit the learning materials area of the website.

4. Register for your examination(s)
ICAB members are required to complete the Technical Integration Business Reporting, Technical Integration Business Change, Case Study and Structured Training in Ethics (STE) in order to be eligible for ICAEW membership.

Tuition
ICAB members in Bangladesh
For ICAB members located in Bangladesh tuition will be available in due course. Class information will be updated on this page shortly. If you would like to receive an alert to advise you of the tuition arrangements as soon as they are available, please register your interest.
• Register to receive alert about tuition arrangements

ICAB members outside of Bangladesh
If you are an ICAB member now located outside of Bangladesh, please refer to our tuition pages for a full list of UK and international tuition providers.
Learning materials

Learning materials are available to purchase from www.gillards.com/icaew
Cost of learning materials
•
o Technical Integration
o £140 plus postage and packing (study pack covers both modules)
•
o Case study
o £70 plus postage and packing
For further information, please visit the learning materials area of the website.

Exams

ICAB members in Bangladesh
Exams are held at the British Council. Further details will be available when you apply for an exam sitting. Please note the 1st examination sitting available to ICAB members in Bangladesh is November 2010.

ICAB members located outside of Bangladesh
A full list of UK and international exam centers can be found on the downloadable Examination Entry Form (PDF 95kb/5 pages) or once you have registered will be available on the Exam Applications Online section. The Advanced Stage exams are held in July and November.

Register for exams
You will be required to register for your exams online.
• How to apply for ACA exams
• Dates and deadlines of ACA exams
Cost of exams
•
o Technical Integration papers
o £155 each per sitting
•
o Case study
o £240 per sitting

5. Sit and pass the examination(s)
ICAB members are required to complete the Technical Integration Business Reporting, Technical Integration Business Change, Case Study and Structured Training in Ethics (STE) in order to be eligible for ICAEW membership.

Tuition
ICAB members in Bangladesh
For ICAB members located in Bangladesh tuition will be available in due course. Class information will be updated on this page shortly. If you would like to receive an alert to advise you of the tuition arrangements as soon as they are available, please register your interest.
• Register to receive alert about tuition arrangements
ICAB members outside of Bangladesh
If you are an ICAB member now located outside of Bangladesh, please refer to our tuition pages for a full list of UK and international tuition providers.
Learning materials
Learning materials are available to purchase from www.gillards.com/icaew
Cost of learning materials
•
o Technical Integration
o £140 plus postage and packing (study pack covers both modules)
•
o Case study
o £70 plus postage and packing
For further information, please visit the learning materials area of the website.

Exams
ICAB members in Bangladesh
Exams are held at the British Council. Further details will be available when you apply for an exam sitting. Please note the 1st examination sitting available to ICAB members in Bangladesh is November 2010.

ICAB members located outside of Bangladesh
A full list of UK and international exam centers can be found on the downloadable Examination Entry Form (PDF 95kb/5 pages) or once you have registered will be available on the Exam Applications Online section. The Advanced Stage exams are held in July and November.

Register for exams
You will be required to register for your exams online.
• How to apply for ACA exams
• Dates and deadlines of ACA exams
Cost of exams
•
o Technical Integration papers
o £155 each per sitting
•
o Case study
o £240 per sitting

6. Complete the Structured Training in Ethics Programme
You are required to complete our Structured Training in Ethics (STE) programme before applying for ICAEW membership. As professionals, ICAEW members have a duty to act ethically and in the public interest at all times and not just in isolation whilst they are working.

Download STE programme
Please read the following instructions and then download the zip file to access the programme.
• User instructions (PDF 324kb/3 pages)
• Download STE programme (Zip)
• Download STE guidance notes (PDF 40kb/2 pages)

About the Structured Training in Ethics programme
We believe ethics to be the cornerstone of being a chartered accountant. Ethics and ethical behaviour helps protect you and your employers' professional reputation. They also protect clients, employers and the public.
You will be required to declare completion of the STE programme on your admission to membership application. On admission to membership of the ICAEW, you must adhere to the ICAEW's Code of Ethics.

7. Apply for ICAEW membership
Further details of your route to membership are contained in our progression route diagram (PDF 34kb/1 page), which will outline timings and your progression route.
Benefits of joining ICAEW

As an ICAEW member, you will be entitled to use the highly respected ACA designation, which is widely recognised throughout the world. You also gain access to our full suite of member support and benefits, including:
• Free and confidential telephone advisory lines, including technical, ethics, anti-money laundering and practice advisory services
• Access to ICAEW web site including help sheets and access to the vast range of external information and databases available via our Library & Information service
• Monthly email alerts containing all the latest business and accountancy news and hot issues
• A complimentary subscription to Accountancy Magazine
Further information can be found at www.icaew.com/members

Practicing certificates and regulated areas

Please note that membership of the ICAEW does not by itself grant practicing rights.
ICAB members who join the ICAEW will be eligible for a practicing certificate on the same terms as other ICAEW members.

UK audit rights are controlled by the Professional Oversight Board and cannot be awarded to ICAB members joining the ICAEW.

Australian History

The first settlers are thought to have arrived around 50,000 years ago. This would have most likely been at a time when the sea levels were low, the land was more humid and animals larger.

Although much of Australia became populated, the central dry areas didn't attract settlers until around 25,000 years ago. The population grew proportionately quicker around 10,000 years ago as the climate improved.

How to Play the Didgeridoo


At the time of British settlement at Sydney Cove it is estimated that 300,000 aboriginal people, speaking around 250 languages inhabited Australia.

On arrival, finding no obvious political structure, the Europeans took the land as their own. The Indigenous people were driven out of their homes and many killed. Various new European diseases spread rapidly amongst the indigenous people, killing many. The introduction of feral and domestic animals contributed to the destruction of natural habitats.

Fighting wiped out the Aboriginal population in Tasmania and greatly reduced the numbers in the rest of Australia.

During the early part of the 20th century legislation's were passed to segregate and protect Aboriginals. This involved restrictions on where they could live and work and families being broken up.

After World War II, assimilation became the governments aim. All rights were taken away from the Aboriginals and attempts made to 'Europeanise' them.

During the 1960's the legislation was reviewed and the Federal Government passed legislation for all Aboriginals to be given citizen status. However, it wasn't until 1972 that the indigenous people were given back limited rights to their own land. The situation has been steadily improving for Australia's Indigenous people, although many feel more needs to be done.

Happy Birthday to Tashin & Yusha (my Nephews )

Wish you both all happiness in life. with Love
Annu...

Recipe of chocolate cake

I love this recipe for chocolate cake, in which the beautiful earthy taste of chestnuts - both honeyed and mealy - combines with dark chocolate and Spanish sherry to make a decadent treat.

Ingredients:
150g dark cooking chocolate
75g unsalted butter
125ml Pedro Ximenez fino sherry, or if unavailable use a dry sherry
6 medium eggs, separated
150g castor sugar
½ cup chestnut puree*
70g hazelnuts, toasted, skinned (rub off with a cloth) and coarsely chopped
50g self-raising flour, sifted
55g cocoa powder
* Chestnut puree is sold in jars or tins, either sweetened or plain (either is fine for this recipe), and can be found in good delis, some supermarkets or specialist shops.

Method
Preheat oven to 180C (170C if you have a fan-forced oven). Grease a 24cm spring-form tin with butter, then line with baking paper.
Melt the chocolate and butter in a bowl over a pot of simmering water. Add the sherry and gently stir until combined. Leave to cool.
Whisk egg yolks with sugar until light and fluffy. Add the chocolate mixture, the chestnut puree and hazelnuts. Stir until well combined.
Beat the egg whites until stiff peaks form and carefully fold into the chocolate with the sifted flour and cocoa powder.
Pour into the prepared tin and bake for 50-60 minutes. Test by inserting a skewer in the centre - if it comes out clean, it's ready. Cool in the tin before turning out.

To serve
Serve with whipped cream.
Serves 12.

True Meaning of Christmas

Just a week before Christmas I had a visitor. This is how it happened. I just finished the household chores for the night and was preparing to go to bed, when I heard a noise in the front of the house. I opened the door to the front room and to my surprise, Santa himself stepped out next to the fireplace.

"What are you doing?" I started to ask. The words choked up in my throat and I saw he had tears in his eyes. His usual jolly manner was gone. Gone was the eager, boisterous soul we all know. He then answered me with a simple statement . . ."TEACH THE CHILDREN!" I was puzzled. What did he mean? He anticipated my question and with one quick movement brought forth a miniature toy bag from behind the tree. As I stood bewildered, Santa said, "Teach the children!Teach them the old meaning of Christmas. The meaning that now-a-days Christmas has forgotten. "Santa then reached in his bag and pulled out a FIR TREE and placed it before the mantle. "Teach the children that the pure green color of the stately fir tree remains green all year round, depicting the everlasting hope of mankind, all the needles point heavenward, making it a symbol of man's thoughts turning toward heaven."

He again reached into his bag and pulled out a brilliant STAR. "Teach the children that the star was the heavenly sign of promises long ago. God promised a Savior for the world, and the star was the sign of fulfillment of His promise."

He then reached into his bag and pulled out a CANDLE. "Teach the children that the candle symbolizes that Christ is the light of the world, and when we see this great light we are reminded of He who displaces the darkness."

Once again he reached into his bag and removed a WREATH and placed it on the tree. "Teach the children that the wreath symbolizes the real nature of love. Real love never ceases. Love is one continuous round of affection."

He then pulled from his bag an ORNAMENT of himself. "Teach the children that I, Santa Claus, symbolize the generosity and good will we feel during the month of December."

He then brought out a HOLLY LEAF. "Teach the children that the holly plant represents immortality. It represents the crown of thorns worn by our Savior. The red holly berries represent the blood shed by Him.

Next he pulled from his bag a GIFT and said, "Teach the children that God so loved the world that he gave his begotten son." Thanks be to God for his unspeakable gift.

Santa then reached in his bag and pulled out a CANDY CANE and hung it on the tree. "Teach the children that the candy cane represents the shepherds' crook. The crook on the staff helps to bring back strayed sheep to the flock. The candy cane is the symbol that we are our brother's keeper."

He reached in again and pulled out an ANGEL. "Teach the children that it was the angels that heralded in the glorious news of the Savior's birth. The angels sang Glory to God in the highest, on earth peace and good will toward men."

Suddenly I heard a soft twinkling sound, and from his bag he pulled out a BELL,. "Teach the children that as the lost sheep are found by the sound of the bell, it should ring mankind to the fold. The bell symbolizes guidance and return.

Santa looked back and was pleased. He looked back at me and I saw that the twinkle was back in his eyes. He said, "Remember, teach the children the true meaning of Christmas and do not put me in the center, for I am but a humble servant of the One that is, and I bow down to worship him, our LORD, our GOD."


The song "Joys of Christmas" was written and performed by Margi Harrell

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Zakat: An Effective Instrument for Elimination of Proverty

Zakat or 'Poor Due' is a distribution system devised by the Creator and introduced by His Messengers from the very beginning of the civilization. The prime objective of Zakat is to eradicate poverty by equitable distribution of wealth. Zakat is not a donation rather right of the poor in the wealth of the rich. The latest version of Zakat was revealed through Holy Quran and introduced by Prophet Mohammed (Peace and blessings of Allah be upon him). The outcome of Zakat under Islamic system was observed at the end of the reign of Hazarat Omar bin Abdul Aziz (Allah be pleased with him) in the first Muslim state of Madina when it was difficult to find out a person to pay Zakat.

Over the period with the changes in socioeconomic environment, numerous direct and indirect taxes veiling Zakat were either enforced or adopted in the Muslim dominated countries. Consequently, Zakat has turned from an effective distribution system to an alms distribution festival. Zakat is one of the 'Five Pillars of Islam'. Zakat is 'Fard' (compulsory) for every adult, mentally stable, free, and financially able Muslim male and female. The Quran says that only those who pay Zakat are in the "brotherhood of faith". Zakat is a 2.5% levy on most valuables and savings if their total value is more than a basic minimum known as 'Nisab'. Cash at bank and the release value of bonds, securities and shares in any form are Zakatable if they are purchased as an investment. There is no zakat on dwelling house, household furniture, carpets, car, etc for personal use. The obligation of Zakat is raised after passing of a time span of one lunar year (a lunar year is approximately 355 days) with 'Nisab' money and resources in the control of its owner. The owner of wealth is allowed to deduct any amount of money he or she borrowed from others. Each Muslim calculates his or her own Zakat individually. Zakat is also leviable upon crops, animals and stock in trade.

One of the most important principles of Islam is that Allah (SWT) is the absolute owner of all resources of the world and human being is simply the custodian thereof. Accordingly, a wealthy Muslim requires to pay the dues of the poor from the assets under his/her custody. l Zakat on self known as Zakat-ul Fitr is a per head payment equivalent to the cost of around 2.25 kilograms of the main food of the region (this may be wheat, dates ,rice or grapes, depending on the place) paid during the month of Ramadan by the head of a family for himself and his dependents to the zakat collector (amil).l Zakat on wealth known as Zakat -ul-Mal comprises all other types of zakat, such as on business, on savings, on income, on crops, on livestock, on gold, on minerals, on hidden treasure unearthed, etc.

Zakat is ditributable among the following 8 categories of people:

l Faqir - One who has neither material possessions nor means of livelihood.l

Miskin- One with insufficient means of livelihood to meet basic needs.

l Amil - Workers associated with the collection and distribution of Zakat.

l Muallafathul Quloob- One who converts to Islam. Literally those whose hearts are softened. Some scholars claim this also refers to poor non-muslims who do not have enmity towards Muslims.

l Riqab- One who wants to free himself from bondage or the shackles of slavery.

l Gharmin- One who is in debt (money borrowed to meet basic, halal expenditure)

l Fisabillillah- Literal meaning 'In the way of Allah', but it is used for Jihad.

l Ibnus Sabil- One who is stranded in journey outside his territory.

Zakat encourages honest earning and honest living. Since Zakat is a prayer, payment of the same out of illegal income is not acceptable. Allah (SWT) has clearly pronounced this in the following verse of the holy Qur'an:

'Do not acquire anything wrongfully or on false pretences: do not hoard or bury or amass wealth for its own sake but use it freely for good. Whether for yourself or for your neighbours; and be particularly careful not so waste it for idle purpose, but only so that many fructify for the goods of the people.' 9 (34)

There are provisions for tough punishment in eternity for the non-payment of Zakat:

'On the Day when heat will be produced out of That (wealth) in the fire of hell, and with it will be Branded their foreheads, their flanks, and their backs.`` This is the (treasure) which ye Burried for yourselves: taste ye, Then, the (treasure) ye buried ! 9 (35).

Prophet Mohammad (pbuh) said: "Any owner of gold and silver who does not deliver from them their right, on the Day of Quiyamah (Day of Judgement), (the gold and silver) will be shaped as foils of fire. Then, it will be heated in the fire of Hell; (and) then with it he will be ironed on his side, his forehead, and his back" (narrated by Muslim).

The Governments of all Muslim majority countries are under religious obligation for collection and distribution of Zakat.

Zakat and Income Tax

Income tax is a tax on the income of an individual, association of persons, corporations or other legal entities. Universally, the accounting term income is synonymous to revenue. For better understanding of income one of the best accounting definitions has been quoted herein under from International Accounting Standards:

Payment of income tax is mandatory for all citizens generally with an income in excess of prescribed limit. There are provisions for penalty and punishment for the evasion of income tax.

Income tax is leviable on income whereas Zakat is leviable on surplus assets. There is a strong controversy among Muslims of Bangladesh regarding payment of income tax in a situation Zakat is mandatory as per religion. Since, Islamic sariah has restricted Zakat and its benefits only to 8 categories of beneficiaries, Zakat cannot be utilized to run state wheel and for infrastructure development. Therefore, income tax can not be considered as substitute of Zakat and vise versa.

Those who are paying Zakat are subject to double taxation. There is a provision for contribution to Govt. sponsored Zakat Fund. The provision is restricted to small limit and tax credit is allowed only upto 10% of contribution.

The practice of Zakat in Bangladesh

About 89% of 140 million population of Bangladesh is Muslim. Out of total 125 million Muslims around 62.5 million are below poverty line and therefore they do not pay any Zakat, while majority of the remaining 62.5 million pay Zakat ul Fitre and a small portion thereof pay Zakat ul Mal. Though Zakat is equally leviable upon crops, animals and all agricultural products and livestock most of the farm owners are not even aware of the mandate. There are hundreds of millionaires who practice Islam but most of them are paying symbolic Zakat on the basis of own assumption.

The concept of Zakat has turned very complicated because of the development of multifarious financial instruments and changes in economic system. Many of those who are with religious education and conversant with Zakat know little about economic system while the persons driving the economy of the country take little interest in Zakat. Consequently Muslim populace is with mounting ambiguity about computation and distribution of Zakat. People are rarely paying Zakat as poor due rather alms. The poor and destitute people collect Zakat from door to door. The wealthy people in general pay Zakat annually at the time of holy Ramadan calling the poor and destitute to their door. Death of Zakat seekers by stampede in the race to collect Zakat is happening almost every year.

The Muslim population of Bangladesh with an assets upto 'Nisab' could be categorized under three Groups in respect of their practice and perception of Zakat. The first Group being inclined to religion but due to poor knowledge on state affairs is ignoring taxes with a plea that those are un-Islamic, while the moderate Group with less commitment in religion declining to pay Zakat with an understanding that they are compensating the same paying income tax. In reality these two Groups are using the parallel existence of Zakat and Income Tax as an excuse to avoid sometime both. The 3rd and the smallest Group having love for the country and loyalty to religion have turned into the victim of double taxation. One for state, other for poor; one to avoid mischief of laws, and other to get rid of the fire of the hell.

There is no structured organization in Bangladesh for the collection and distribution of Zakat. The Government has established Zakat Fund long back. In absence of transparency and accountability people are reluctant to contribute their Zakat to this Fund. There are number of private volunteer organizations mostly with orphanages for religious education. Since they are collecting fund utilizing religious sentiment of the people, in maximum cases they are avoiding productive and constructive program for poverty eradication.

The greed to get more and more creates unlimited demand for resources. To satisfy this endless demand generally human being are locked into the race for the accumulation of resources, Resulting from difference in capacity this caused concentration of resources in the hand of few and throws the masses to the poverty.

So far, hundreds of researches were conducted on poverty and different factors have been cited to explain why poverty occurs. However, no single explanation has gained universal acceptance.

Poverty in Bangladesh

Most of the causes of poverty noted in clause 2.01 are prevailing in Bangladesh. Bangladesh has almost half of its 140 million population below the poverty line. It has the highest rate of malnutrition in South Asia and one of the lowest adult literacy rates in the world (WB 1997). About 57 per cent of the adult population is illiterate. There is only one doctor for every 4,903 people and one hospital bed for every 3,473 people (FFYP) 1997). About 80 percent of the country's population live in the rural areas and are dependent, in one way or other, on agriculture. Although the contribution of agriculture to GDP is on decline (32 per cent in 1995-96 from 42 per cent in 1984-85), it continues to play a major role in the economy of Bangladesh as it accounts for nearly 62 per cent of the total domestic employment.

The size of the civilian labour force in Bangladesh is 56 million (in 1995-96) of which 45.8 million are rural and 10.2 million are urban. The number of men that constitutes the labour force is 34.7 million while the number of women is 21.3 million. The number of unemployed population is 1.4 million but of the total employed population, more than one-third is under employed (BBS 1996).

Environmental degradation in Bangladesh has reached an alarming state threatening the prospects of poverty eradication and promotion of sustainable development. The current agricultural practices are causing severe damage to the agro-ecosystem affecting productivity, stability and economy of production as well as human health.

It can be said, therefore, that mass poverty in Bangladesh stems from structural deprivation. It is caused by the interplay of several factors such as unequal distribution of productive assets; inequitable distribution of income; unemployment and under-employment; low level of human resource development; lack of access to public institutions and services; interlocked, imperfect and distorted market operation; patriarchal social system; environmental pollution and degradation; lack of good governance and bypassing the poor in mainstream development projects.

The author is a faculty member of the Institute of Chartered Accountants of Bangladesh for the last 17 years. He can be reached at akhalek@bergerbd.com