I INNTTRROODDUUCCTTIIOONN 33 FOUNDATION 5 FOUNDATION 5
Module A
Module A
P Paappeer r AA1 1 FFuunnccttiioonnaal l EEnngglliisshh 77 PPaappeer r A A 2 2 QQuuaannttiittaattiivve e MMeetthhooddss 99
Module B
Module B
P
Paappeer r B B 3 3 IInnttrroodduuccttiioon n tto o EEccoonnoommiiccs s aannd d FFiinnaannccee 1122 P
Paappeer r B B 4 I4 Innttrroodduuccttiioon n tto o FFiinnaanncciiaal l AAccccoouunnttiinngg 1155 P Paappeer r B B 5 5 MMeerrccaannttiille e LLaaww 1199 F FIINNAALL 4499
Module E
Module E
PapPaper er E 1E 13 3 InfInformormatiation Ton Techechnolonology gy ManManageagemenment, t, AudAudit it and and ConContrtrolol 5151 P
Paappeer r E E 114 4 AAddvvaanncceed d AAccccoouunnttiinng g & & FFiinnaanncciiaal l RReeppoorrttiinngg 5588 P
Paappeer r E E 115 5 CCoorrppoorraatte e LLaawwss 6611 P Paappeer r E E 116 6 BBuussiinneesss s MMaannaaggeemmeenntt 6666
Module F
Module F
P Paappeer r F F 117 7 MMaannaaggeemmeennt t AAccccoouunnttiinngg 7722 PPaappeer r F F 118 8 BBuussiinneesss s FFiinnaanncce e DDeecciissiioonn 7777 P Paappeer r F F 119 9 AAddvvaanncceed d TTaaxxaattiioonn 8811 P Paappeer r F F 220 0 AAddvvaanncceed d AAuuddiittiinngg 8833 INTERMEDIATE 21 INTERMEDIATE 21
Module C
Module C
PPaappeer r C C 6 6 FFiinnaanncciiaal l AAccccoouunnttiinngg 2233 P
Paappeerr CC 77 TTaaxxaattiioonn 2266 Pa
Papeper r C C 8 8 BuBusisineness ss CoCommmmununicicatatioion n anand d BeBehahaviviououraral l StStududieiess 2929
Module D
Module D
P Paappeerr DD 99 CCoommppaannyy LLaaww 3322 P Paappeer r D D 110 0 CCoosst t AAccccoouunnttiinngg 3344 P Paappeerr DD 1111 AAuuddiittiinngg 3377 PPaappeer r D D 112 2 IInnffoorrmmaattiioon n TTeecchhnnoollooggyy 4400
Contents
The Institute of Chartered Accountants of Pakistan has tailored its syllabus
The Institute of Chartered Accountants of Pakistan has tailored its syllabus
keeping in view the latest developments in the accounting profession worldwide.
keeping in view the latest developments in the accounting profession worldwide.
The Chartered Accountancy courses do not only comprise of the core areas of
The Chartered Accountancy courses do not only comprise of the core areas of
accounting but also encompass other relevant areas such as taxation, law,
accounting but also encompass other relevant areas such as taxation, law,
business management, business finance decision and information technology.
business management, business finance decision and information technology.
Therefore, our professionals are not only sound in technical knowledge but are
Therefore, our professionals are not only sound in technical knowledge but are
also equipped with the right set of management skills to express their unique
also equipped with the right set of management skills to express their unique
potential, exchange innovative ideas, disseminate prompt and accurate
potential, exchange innovative ideas, disseminate prompt and accurate
information and establish leading standards to achieve greater success in
information and establish leading standards to achieve greater success in
business.
business.
The syllabus booklet aims to explain these areas of study through a detail and
The syllabus booklet aims to explain these areas of study through a detail and
precise description of syllabus of all subjects in the Foundation, Intermediate and
precise description of syllabus of all subjects in the Foundation, Intermediate and
Final Stage Examinations. This would define the study route that the student
Final Stage Examinations. This would define the study route that the student
needs to follow to study fo his/her examinations.
needs to follow to study fo his/her examinations.
Students should be consciously aware of their learning abjective right from the
Students should be consciously aware of their learning abjective right from the
start of their professional studies at the Foundation level. Similarly,. the teachers
start of their professional studies at the Foundation level. Similarly,. the teachers
at all levels of studies for prospective Chartered Accountants should ensure that
at all levels of studies for prospective Chartered Accountants should ensure that
the learning outcomes of all syllabi are aimed not only towards awareness and
the learning outcomes of all syllabi are aimed not only towards awareness and
completion of the subject but more importantly towards application in each and
completion of the subject but more importantly towards application in each and
every area of the syllabus coverage.
every area of the syllabus coverage.
LAYOUT OF THE BOOKLET
LAYOUT OF THE BOOKLET
Syllabus
Syllabus
The syllabus for each subject is bifurcated into:
The syllabus for each subject is bifurcated into:
o
o
Introduction
Introduction
oo
Indicative Grid
Indicative Grid
oo
Contents
Contents
Please note that the weightages given in the indicative Grid ar
Please note that the weightages given in the indicative Grid are for guidance
e for guidance
purposes only and some deviations in setting of paper could be expected.
purposes only and some deviations in setting of paper could be expected.
Recommended Reading
Recommended Reading
The individual syllabi are followed by a list of Recommended Reading which
The individual syllabi are followed by a list of Recommended Reading which
contains:
contains:
o
o
Reference Books
Reference Books
oo
Supplementary Study Materials
Supplementary Study Materials
INTRODUCTION
F
F
O
O
U
U
N
N
D
D
A
A
T
T
I
I
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Challenges are what make life interesting; overcoming them what makes life meaningful.
Challenges are what make life interesting; overcoming them what makes life meaningful. (Joshau J. Marine)
PAPER A 1:
PAPER A 1:
Functional E
Functional E n
ngl
gl is
ish
h
(100 marks)
(100 marks)
Module A
Module A
The objective of this syllabus is to help students communicate effectively in English language through The objective of this syllabus is to help students communicate effectively in English language through proper usage of vocabulary & knowledge of English grammar.
proper usage of vocabulary & knowledge of English grammar.
Objective
Objective
Indicative Grid
Indicative Grid
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Total
Contents:
Contents:
1. Vocabulary
1. Vocabulary
a. a. FrFreqequenuentltly y coconfnfusused ed wowordrdss b.b. FrFreqequenuentltly my misuisusesed d worwordsds
c.
c. PhrPhrasesases, , synsynonyonyms, ms, antantonymonyms, s, idiidiomsoms d.
d. GeGeneneraral l vovocacabubulalaryry
2. Practical Use of Grammar
2. Practical Use of Grammar
a a.. GGrraammmmaarr i i.. NNoouunnss i iii.. PPrroonnoouunnss i iiiii.. VVeerrbbss i ivv.. AAddjjeeccttiivveess v v.. AAddvveerrbbss v vii.. PPrrepepoossititiiononss vi vii.i. CoConjnjununctctioionsns vi viiiii.. ArArtticicleless i ixx.. IInntteerrjjececttioionnss x x.. TTeennsseess b b.. SSeenntteenncceess i i.. TTyyppees s oof f sseenntteenncceess i iii.. PPaartrts s oof f sseentntenencceess ii
iii.i. RuRules les fofor sr strtrucuctuturiring sng sententenencecess iv
iv.. PhPhraraseses √ Ts √ Typypes aes and nd fufunctnctionionss v
v.. ClClauauseses √ Ts √ Typypes es anand fd fununctctioionsns vi
vi.. DirDirect ect and and InIndidirerect ct SpSpeeeechch vi
vii.i. AcActitive ve & P& Passassive ive VVoioicece Note:
Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
of papers could be expected. Foundatio
Foundatio
Foundation n ExaminationExamination FunctionaFunctional l EnglishEnglish
c
c.. PPuunnccttuuaattiioonn
Periods, Question Marks, Exclamation Periods, Question Marks, Exclamation marks, Semicolons, Colons, Commas, marks, Semicolons, Colons, Commas, Apostrophes, Quotation Marks
Apostrophes, Quotation Marks
d.
d. WWrirititing ng MeMechchananicicss Capitals, Abbreviations Capitals, Abbreviations
3. Composition and
3. Composition and
Comprehensio
Comprehensio
n
n
a.
a. StStory ory wrwrititining fg frorom om oututlinlineses b.
b. LettLetter er wriwritinting (g (infinformaormal al and nd formformal)al) c c.. PPrrééccis is wwrrititiingng d d.. EEssssaay wy wrriittiinngg e e.. CoCommpprreehheensnsioionn
PAPER A 1:
PAPER A 1:
Functional English
Functional English
Book Name & Author
Book Name & Author
About the Book
About the Book
1.
1. HigHigh Sch Schohool √ ol √ EnEnglglisish Grh Gramammamar &r & Composition by Wren and Martin. Composition by Wren and Martin.
2.
2. LearLearners ners ComCompanpanion ion SerSeries ies VVocabocabularularyy by George Davidson.
by George Davidson. 3.
3. WoWord rd PoPower wer MadMade Eae Easy bsy by Noy Normarman Len Lewiswis.. 4.
4. Understand Understand & & Communicate Communicate (book (book 2 2 andand 3) published by FEP International (Pvt.)Ltd. 3) published by FEP International (Pvt.)Ltd. 5.
5. ConcConceptepts (bs (book ook 3 an3 and 4) d 4) by Pby P.C. .C. WrWren.en.
This is a very useful book on grammar and This is a very useful book on grammar and composition and helps a lot in building a composition and helps a lot in building a strong foundation for the language.
strong foundation for the language.
These books are very useful on vocabulary and These books are very useful on vocabulary and help immensely in vocabulary building.
help immensely in vocabulary building.
These are very useful books on grammar and These are very useful books on grammar and comprehension.
comprehension.
Supplementary Study Material
Supplementary Study Material
1.
1. FunctioFunctional Englnal English Studish Study Ty Text and Reext and Revision Svision Series by eries by AAT Foulks LT Foulks Lynch Pakynch Pakistan.istan. 2.
2. FunctioFunctional Englinal English Study Tsh Study Text and Reext and Revision Servision Series by Pries by Professiofessional Businonal Business Publess Publicationications (PBP).s (PBP). 3.
3. PrPréciécis ws wrirititing ng by by R. R. DhDhillillon.on. 4.
4. SysteSystem»m»s Studs Student Coment Companion panion EnglisEnglish for loh for lower secwer secondary sondary schools bchools by Magdy Magdalene Chalene Chew &ew & Surinder Kaur. Surinder Kaur.
Recommended Reading
Recommended Reading
}}
}}
Foundatio
Foundation n ExaminationExamination Quantitative MethodsQuantitative Methods
PAPER A 2:
PAPER A 2:
Quantitative Methods
Quantitative Methods
(100 marks)
(100 marks)
Module A
Module A
The role of an accountant has changed over the years; it has become imperative for him to have The role of an accountant has changed over the years; it has become imperative for him to have knowledge of various Mathematical and Statistical Techniques, which are being used in Financial knowledge of various Mathematical and Statistical Techniques, which are being used in Financial Analysis and Decision Making. The latest research carried out in the above areas is mostly based on Analysis and Decision Making. The latest research carried out in the above areas is mostly based on such techniques. The syllabus includes topics which the students will use not only in their later studies such techniques. The syllabus includes topics which the students will use not only in their later studies but throughout
but throughout their career.their career.
Introduction
Introduction
The objective of the course is to train the students in the use of Quantitative Techniques in business The objective of the course is to train the students in the use of Quantitative Techniques in business and finance. The students are required to gain thorough theoretical knowledge of the subject and and finance. The students are required to gain thorough theoretical knowledge of the subject and understanding of the application of such knowledge.
understanding of the application of such knowledge.
Objective
Objective
Indicative Grid
Indicative Grid
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Mathematics
Mathematics
1.
1.
Ba
Ba
s
s
ic
ic
M
M
at
at
he
he
m
m
at
at
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s
2.
2.
Fi
Fi
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nc
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ma
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cs
cs
3
3
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C
C
a
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4.
Ma
Ma
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ix a
ix a
nd D
nd D
et
et
er
er
mi
mi
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50
50
Statistics
Statistics
5.
5.
St
St
at
at
is
is
ti
ti
ca
ca
l
l
Me
Me
th
th
od
od
s
s
6.
6.
Met
Met
hod
hod
s o
s o
f L
f L
eas
eas
t Sq
t Sq
uar
uar
e &
e &
Reg
Reg
re
re
ss
ss
ion
ion
7.
7.
Pr
Pr
oba
oba
bil
bil
ity
ity
& P
& P
ro
ro
bab
bab
ili
ili
ty
ty
Dis
Dis
tri
tri
but
but
ion
ion
8.
8.
Sa
Sa
mp
mp
li
li
ng
ng
&
&
De
De
ci
ci
si
si
on
on
Ma
Ma
ki
ki
ng
ng
50
50
100
100
Total
Total
Note:Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
Foundatio
Foundation n ExaminationExamination
Contents:
Contents:
1. Basic Mathematics
1. Basic Mathematics
Rates, ratios, percentages; discounts, markup, markdown; indices, exponential and logarithmic Rates, ratios, percentages; discounts, markup, markdown; indices, exponential and logarithmic functions.Use of brackets, simplification rules, co-ordinate system, concept of equation, gradient, functions.Use of brackets, simplification rules, co-ordinate system, concept of equation, gradient, equation of straight line, application of straight line in business and
equation of straight line, application of straight line in business and economics; simultaneous equationeconomics; simultaneous equations;s; quadratic equations; factorization of equations including factorization by completion of squares, quadratic equations; factorization of equations including factorization by completion of squares, arithmetic progression and geometric progression.
arithmetic progression and geometric progression.
2. Financial Mathematics
2. Financial Mathematics
Simple interest, present and future values; discounting notes; bank discount; compound interest and Simple interest, present and future values; discounting notes; bank discount; compound interest and annuities; sinking funds, present value; perpetuities; effective rate of interest.
annuities; sinking funds, present value; perpetuities; effective rate of interest.
((Note:Note: The students should be able to use both formulas as The students should be able to use both formulas as well as mathematical table)well as mathematical table)
3. Calculus
3. Calculus
Techniques of differentiation; sum, difference, product and quotient rules of differentiation. Marginal Techniques of differentiation; sum, difference, product and quotient rules of differentiation. Marginal function, calculation of revenue, cost &
function, calculation of revenue, cost & profit of marginal unit. Use profit of marginal unit. Use of second order derivatives; maxima,of second order derivatives; maxima, minima and point of inflexion.
minima and point of inflexion.
4. Matrix and Determinants
4. Matrix and Determinants
Addition, subtraction, multiplic
Addition, subtraction, multiplication, inverse of ation, inverse of matrices. Solution of equations using matrices. Solution of equations using matrix; inequalities,matrix; inequalities, graphical presentation of inequalities; graphical method for linear programming; problems in graphical graphical presentation of inequalities; graphical method for linear programming; problems in graphical solutions such as
solutions such as no feasible solution, alternative optimum solution, unbounded solutions no feasible solution, alternative optimum solution, unbounded solutions and redundantand redundant constraints.
constraints.
5. Statistical Methods
5. Statistical Methods
Collection, presentation, tabulation, graphical presentation through graphs, charts and diagrams, stem Collection, presentation, tabulation, graphical presentation through graphs, charts and diagrams, stem and leaf display, box and whisker plot. Measures of central tendencies. Measures of dispersions. Index and leaf display, box and whisker plot. Measures of central tendencies. Measures of dispersions. Index numbers, weighted index numbers, concept of purchasing power and deflation of income.
numbers, weighted index numbers, concept of purchasing power and deflation of income.
6. Methods of Least Square and Regression
6. Methods of Least Square and Regression
Scatter diagram, linear relationship, simple linear regression lines by method of least square. Simple Scatter diagram, linear relationship, simple linear regression lines by method of least square. Simple linear correlation, Coefficient of
linear correlation, Coefficient of correlation, determination and interpretation. Rank correlationcorrelation, determination and interpretation. Rank correlation
7. Probability and Probability Distribution
7. Probability and Probability Distribution
Counting techniques, probability, addition law for mutually exclusive and not mutually exclusive events. Counting techniques, probability, addition law for mutually exclusive and not mutually exclusive events. Multiplicative laws for dependent and independent events. Binomial, Poisson, hypergeometric and Multiplicative laws for dependent and independent events. Binomial, Poisson, hypergeometric and normal
normal distributdistribution.ion.
((Note:Note: The students should be able to use both formulas as The students should be able to use both formulas as well as mathematical tables)well as mathematical tables)
8. Sampling and Decision Making
8. Sampling and Decision Making
Simple random sampling, sampling distribution of mean, standard error of mean. Sampling with and Simple random sampling, sampling distribution of mean, standard error of mean. Sampling with and Quantitative Methods Quantitative Methods
Foundatio
Foundation n ExaminationExamination Quantitative MethodsQuantitative Methods
population proportion, difference between two population proportions, single population variance and population proportion, difference between two population proportions, single population variance and test of association through z, t and Chi-square. Confidence interval for estimating population mean. test of association through z, t and Chi-square. Confidence interval for estimating population mean. Population and variance. Difference between mea
Population and variance. Difference between means, proportion and difference between proportion andns, proportion and difference between proportion and population variance. Problems of determination of sample size for the study of population mean and population variance. Problems of determination of sample size for the study of population mean and proportion.
proportion.
1.
1. Mathematics Mathematics for for Business Business and and Finance Finance byby Hamid A Hakeem
Hamid A Hakeem 2.
2. BusBusinesiness Ms Mathathematematics ics by Mby M. M. . M. HasHasan aan andnd M. A. Mirza
M. A. Mirza
3.
3. MatMathemhematiatics cs for for BusBusineiness ss and and EcoEconomnomicsics by Robert H. Nicholson.
by Robert H. Nicholson.
The book covers almost all the topics with The book covers almost all the topics with easy examples and is a good question bank. easy examples and is a good question bank. The book is specifically written for students of The book is specifically written for students of finance and management and covers the finance and management and covers the entire syllabus.
entire syllabus.
The book is useful for Finance Mathematics. The book is useful for Finance Mathematics. 1.
1. Applied Applied Mathematics Mathematics for for Business,Business, Economics and the Social Sciences by Economics and the Social Sciences by Frank S. Budnick.
Frank S. Budnick. 2.
2. MatMathemhematiatics cs for for BusBusinesiness as and nd FinaFinance nce byby Hamid A Hakeem.
Hamid A Hakeem. 3.
3. BusBusinesiness Ms Mathathematematics ics by by M. M. M. M. HasHasan an andand M. A. Mirza.
M. A. Mirza. 4.
4. MatMathemhematiatics cs for for BusBusinesiness as and nd EcoEconomnomicsics by Robert H. Nicholson.
by Robert H. Nicholson.
It»s a very useful book and cover most of the It»s a very useful book and cover most of the topics of syllabus.
topics of syllabus.
The book covers almost all the topics with easy The book covers almost all the topics with easy examples and is a good question bank.
examples and is a good question bank.
The book is specifically written for students of The book is specifically written for students of finance and management and covers the entire finance and management and covers the entire syllabus.
syllabus.
The book is useful for Financial Mathematics. The book is useful for Financial Mathematics.
Business Statistics
Business Statistics
Mathematics
Mathematics
1.
1. Mathematics Mathematics for for Business Business and and Finance Finance byby Hamid A Hakeem
Hamid A Hakeem 2.
2. BusBusinesiness Ms Mathathematematics ics by Mby M. M. . M. HasHasan aan andnd M. A. Mirza
M. A. Mirza
3.
3. MatMathemhematiatics cs for for BusBusineiness ss and and EcoEconomnomicsics by Robert H. Nicholson.
by Robert H. Nicholson.
The book covers almost all the topics with The book covers almost all the topics with easy examples and is a good question bank. easy examples and is a good question bank. The book is specifically written for students of The book is specifically written for students of finance and management and covers the finance and management and covers the entire syllabus.
entire syllabus.
The book is useful for Finance Mathematics. The book is useful for Finance Mathematics. 5.
5. IntIntroroducductory tory StaStatististictics fos for Ecr Economonomics ics andand Management by Hamid A Hakeem.
Management by Hamid A Hakeem.
6.
6. StaStatististictics Cos Concencepts pts and and MetMethodhods bs byy Khursheed Alam.
Khursheed Alam. 7.
7. IntIntroroducduction tion to Sto Stattatististics (ics (ThirThird edid editiotion) byn) by Ronald E. Walpole.
Ronald E. Walpole.
The book covers the entire syllabus and is very The book covers the entire syllabus and is very useful covering theoretical as well as practical useful covering theoretical as well as practical aspects of statistics.
aspects of statistics.
The book is very useful for conceptual The book is very useful for conceptual understanding of statistics.
understanding of statistics.
The book is very useful especially for: The book is very useful especially for: probability, normal distribution and hypothesis probability, normal distribution and hypothesis testing.
testing.
Supplementary Study Material
Supplementary Study Material
1.
1. QuantiQuantitative Mtative Methods Sethods Study Ttudy Text and Rext and Revision Sevision Series by Aeries by AT Foulks LT Foulks Lynch Pakynch Pakistan.istan. 2.
2. QuantitatQuantitative Methods Study Tive Methods Study Text and Revision Series by Prext and Revision Series by Professioofessional Businessnal Business Publications (PBP).
Publications (PBP). Note:
Note: Although the use of scientific calculators is allowed, the use of programmable calculators/ Although the use of scientific calculators is allowed, the use of programmable calculators/ devices is not allowed. (Refer our website ww.icap.org.pk for list of permissible calculators)
devices is not allowed. (Refer our website ww.icap.org.pk for list of permissible calculators)
Recommended Reading
Recommended Reading
PAPER A 2:
PAPER A 2:
Quantitative Methods
Quantitative Methods
B
Foundatio
Foundation n ExaminationExamination Introduction Introduction to Econto Economics &omics & FinanceFinance
PAPER B 3:
PAPER B 3:
Introduc
Introductt ion to Economics & Finance
ion to Economics & Finance
(100 marks)
(100 marks)
Module B
Module B
The object of the course is to enable candidates to equip themselves with the main economic concepts The object of the course is to enable candidates to equip themselves with the main economic concepts and their use, relevance in economic analysis and as an introduction to the economic environment of and their use, relevance in economic analysis and as an introduction to the economic environment of trade, industry and banking as well as to methods of analysis relevant to the study of financial decisions. trade, industry and banking as well as to methods of analysis relevant to the study of financial decisions.
Introduction
Introduction
Indicative Grid
Indicative Grid
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Total
Contents:
Contents:
1.
1.
Ec
Ec
on
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pt
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s
s
a. a. BaBasisic c coconcncepeptts;s; b.b. NaturaNatural rl resouresources, ces, labourlabour, , capitacapital anl and d enterpenterprise;rise; c.
c. AllocatAllocation of ion of scarcscarce rese resources ources √ pr√ productioduction, dion, distribstribution aution and connd consumptsumption;ion; d.
d. ProdProduction uction possibpossibility ility fronfrontier tier and and the the opportopportunity unity cost;cost; e.
e. Key chKey characteraracteristics istics of marof market ecket economyonomy, plan, planned ecned economy onomy and miand mix econox economy;my; f.
f. MiMicrcroeoeconconomomicics as and nd MaMacrcroecoeconoonomimicscs..
2.
2.
Mi
Mi
cr
cr
oe
oe
co
co
no
no
mi
mi
cs
cs
a) a) CoConcncepept ot of Mf Mararkekett i. i. MaMarkrket et foforrceces os of df dememanand ad and nd susupppplyly;; i ii.i. DDeemmaannd d aannd d ssupupppllyy;; iiiiii.. EqEquiuiliblibririum oum of def demamand and and snd supupplply;y; iv
iv.. ElElastasticiicity oty of def demamand and and snd supupplply;y; v
v.. UtUtiliility aty ananalylysisis ans and ind indidiffffererenence cce cururveve;; vi.
vi. ConConsumsumerer, p, prodroducerucers as and nd effefficieiciency ncy ofof market. market. b) b) ThTheoeory ry of of ththe Fe Firirmm i. i. PrPrododucuctition on fufuncnctition on anand id isosoququanantsts;; ii ii.. CoCostst, , rerevevenunue e anand d prprofofitits;s; ii iii.i. MaMaxiximimizazatition oon of prf profofitits;s; iv iv.. CoCost st anand rd revevenenue cue cururveves;s; v
v.. DiDiststininctction ion bebetwtween een lolong ng rurun an and nd shshortort run assumptions;
run assumptions; vi.
vi. EqEquiuiliblibririum um of fof firm irm unundeder pr perferfectect competition, monopoly, oligopoly and competition, monopoly, oligopoly and Note:
Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
Foundatio
Foundation n ExaminationExamination Introduction Introduction to Econto Economics &omics & FinanceFinance
c) c) FaFactctorors s of of PrPrododucuctitionon i i.. LLaawws s oof f rreettuurrnnss;; ii ii.. PrPricicining of fg of facactotors ors of prf prododucuctitionon ii iii.i. MaMargrgininal pal proroduductctivivitity thy theoreoryy..
3.
3.
Macroeconom
Macroeconom
ics
ics
a
a.. NNaattiioonnaal Inl Inccoommee i
i.. CCirirccululaar fr flolow ow of if innccomome;e; ii.
ii. MeasMeasureurement of natment of nationaional income incl income includiluding knowng knowledledge of basige of basic concepc concepts like GDPts like GDP, GNP, GNP, NNP;, NNP; iii.
iii. MarMarginginal al prpropeopensitnsity ty to co consonsume ume and and savsave;e; iv
iv.. ConsConsumpumptiotion, sn, saviaving ang and ind invenvestmstment ent funfunctioctions;ns; v v.. MuMultltipiplilier er anand ad accccelelereratatoror;; vi vi.. EqEquiluilibibririum oum of naf natitiononal ial incncomome;e; b. b. GoGovevernrnmement ant and tnd the Ehe Ecocononomymy i i.. FFiissccaal l BBuuddggeett i iii.. UUnneemmppllooyymmeenntt;; iii.
iii. Inflation;Inflation; iv
iv.. GrGrowtowth, h, priprice ce stastabilbility ity and and empemploymloymentent;; v v.. RReecceessssiioonn c c.. FFiissccaal Pl Poolliiccyy i. i. DiDirrecect at and nd inindidirrecect tt taxaxatatioion;n; ii
ii.. PrPrinincipciplesles, me, meththodods ans and fod forms rms of tof taxaxatatioion.n. d. d. MoMoneney & y & MoMonenetatary ry PoPolilicycy i i.. TTyyppees s oof f mmoonneeyy;; i iii.. VVaalluue e oof f mmoonneeyy;; ii iii.i. NatNaturure ae and nd fufuncnctitionons os of mf mononeyey;; iv
iv.. DefDefinitinitionions of banks of bankinging, bank, banking sying systestem and its inm and its instistituttutionions;s; v
v.. FiFinanancnciaial l inintetermrmedediaiaririeses;; vi
vi.. RoRole le of of StStatate Be Banank;k; vii
vii.. The suThe supplpply of mony of money and iey and intentererest ratst rate polie policycy.. e
e.. CCaappiittaall
Role of the money and capital markets. Role of the money and capital markets. f.
f. InInteternrnatatioionanal l TTraradede i.
i. TTrarade de anand d babalalancnce e of of papaymymenentsts;; ii.
ii. ForeigForeign exchn exchange ange rates rates (float(floating aing and find fixed xed exchangexchange rate rates) es) their their naturnature, fe, function unction andand determination;
determination; ii
iii.i. TTrarade de anand id its ts dedetetermirminannantsts;; iv
iv.. MarMarketkets ans and dd demaemand fnd for ior impomports rts and and expexportsorts;; v
v.. OpOpen en EcEcononomomy (y (BaBasisic cc cononceceptpt)) vi.
Foundatio
Foundation n ExaminationExamination
PAPER B 3:
PAPER B 3:
Introduction to Economics and Finance
Introduction to Economics and Finance
Book Name & Author
Book Name & Author
About the Book
About the Book
1.
1. Mathematics Mathematics for for Business Business and and Finance Finance byby Hamid A Hakeem
Hamid A Hakeem 2.
2. BusBusinesiness Ms Mathathematematics ics by Mby M. M. . M. HasHasan aan andnd M. A. Mirza
M. A. Mirza
3.
3. MatMathemhematiatics cs for for BusBusineiness ss and and EcoEconomnomicsics by Robert H. Nicholson.
by Robert H. Nicholson.
The book covers almost all the topics with The book covers almost all the topics with easy examples and is a good question bank. easy examples and is a good question bank. The book is specifically written for students of The book is specifically written for students of finance and management and covers the finance and management and covers the entire syllabus.
entire syllabus.
The book is useful for Finance Mathematics. The book is useful for Finance Mathematics. 1.
1. Modern Modern Economic Economic Theory Theory by by K. K. K. K. Dewett.Dewett.
2.
2. IntIntroroducduction tion to to EcoEconomnomics ics & F& Finaninance bce byy Abdul Haleem Khawaja.
Abdul Haleem Khawaja.
3.
3. EcoEconomnomics ics by by SamSamueluelson son and and NorNordhadhaus.us.
4.
4. MacMacro ro EcoEconomnomics ics by by PauPaul Crl Crompomptonton,, Michael Swann, Sandra Hopkins, Michael Swann, Sandra Hopkins, William A. McEachen.
William A. McEachen.
5.
5. The The MoMonetnetary ary and and FiFinannanciacial Syl Syststem bem byy David Goacher.
David Goacher.
The book covers all topics of
The book covers all topics of syllabus, written insyllabus, written in simple and plain language. It is especially simple and plain language. It is especially useful for micro economics.
useful for micro economics.
The book is specifically written for ICAP»s The book is specifically written for ICAP»s students and contains all syllabus areas. It is students and contains all syllabus areas. It is especially recommended for macro economics. especially recommended for macro economics. The book covers almost all topics of syllabus in The book covers almost all topics of syllabus in detail.
detail. This book
This book covers the covers the entire syentire syllabus llabus contentscontents and includes case study questions which will and includes case study questions which will help students in studying the subject with a help students in studying the subject with a practical point of view.
practical point of view.
The book discusses all the relevant topics at an The book discusses all the relevant topics at an introductory stage in simple language.
introductory stage in simple language.
Supplementary Study Material
Supplementary Study Material
1.
1. IntrIntroductioduction to Econon to Economics & Finomics & Finance Stuance Study Tdy Text and Rext and Revision Sevision Series by Aeries by AT Foulks LT Foulks Lynchynch Pakistan.
Pakistan. 2.
2. IntrIntroductioduction to Economon to Economics and Finanics and Finance Study Tce Study Text and Revext and Revision Serision Series by Pries by Professofessional Busiional Businessness Publications (PBP).
Publications (PBP). 3.
3. First PFirst Principlrinciples of Ees of Economicconomics: by Rs: by Richard ichard G LipsG Lipsey and Cey and Colin Harolin Hardburydbury.. 4.
4. StaStanlaknlake»e»s Ints Introdroductuctory Ecory Economonomicsics: by SJ G: by SJ Grantrant..
Recommended Reading
Recommended Reading
Introduction
Foundatio
Foundation n ExaminationExamination
PAPER B 4:
PAPER B 4:
Introduction to Financial Accounting
Introduction to Financial Accounting
(100 marks)
(100 marks)
Module B
Module B
The objective of this course is to enable candidates to understand fundamentals of accounting theory; The objective of this course is to enable candidates to understand fundamentals of accounting theory; apply theory to basic financial accounting and prepare accounting statements of sole proprietorships apply theory to basic financial accounting and prepare accounting statements of sole proprietorships and partnerships. To develop knowledge and understanding of financial statements
and partnerships. To develop knowledge and understanding of financial statements and the techniquesand the techniques used to prepare financial statements including necessary underlying records.
used to prepare financial statements including necessary underlying records.
Objective
Objective
Indicative Grid
Indicative Grid
S
S
y
y
l
l
l
l
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a
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.
.
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e
e
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c
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e
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i
p
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accounts and preparation of accounts from incomplete
accounts and preparation of accounts from incomplete
records
records
4
4
. O
. O
t
t
h
h
e
e
r
r
s
s
p
p
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d
d
a
a
r
r
e
e
a
a
s
s
3
3
5
5
100
100
Total
Total
Contents:
Contents:
1.1. a) Ina) Introtroducductiotion to busn to busineiness anss and accd accounountinting theg theoryory i.
i. DeDefifininitition aon and snd scocope ope of buf busisinenessss;; ii
ii.. EcEcononomomic sic setetup oup of buf busisinenessss;; iii
iii.. OrOrgaganiznizatation stion struructcturureses;;
Q
Q Sole proprietorship;Sole proprietorship;
Q
Q Partnership (its merits and demerits);Partnership (its merits and demerits);
Q
Q Limited Companies (their advantagesLimited Companies (their advantages
and disadvantages); and disadvantages);
iv
iv.. TTypeypes os of ff finaninances ces incincludludinging
Q
Q Long term finance;Long term finance;
Q
Q Short term finance;Short term finance;
Introduction to Financial Accounting Introduction to Financial Accounting
Note:
Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
Foundatio
Foundation n ExaminationExamination Introduction to Financial AccountingIntroduction to Financial Accounting
b) Accounting Theory b) Accounting Theory v v.. CoCommmmerercicial al BaBanknks;s; vi vi.. StStocock k ExExchchanangege vii
vii.. InsInsuranurance ce ComCompanpanies;ies; viii.
viii. ProcProcuremeurement and prnt and productiooduction of goods;n of goods; ix
ix.. MaMarkrketeting ing anand d sasaleles;s;
x.
x. MaMarkrketetining g chchanannenelsls;;
Q
Q Sole Distributors;Sole Distributors;
Q
Q Wholesalers and;Wholesalers and;
Q
Q Retailers.Retailers.
i
i FuFundndamamenentatal accl accouountntining cong conceceptpts incs incluludidingng::
Q
Q Accrual basisAccrual basis
Q
Q ConsistencyConsistency
Q
Q TTrue and rue and fair viewfair view
Q Q MaterialityMateriality Q Q PrudencePrudence Q Q CompletenessCompleteness Q
Q Going ConcernGoing Concern
Q
Q Substance over formSubstance over form
ii ii FiFinanancnciaial l ststatatememenentts;s; Q Q ComponentsComponents Q Q ResponsibilityResponsibility Q Q PresentationPresentation Q
Q Users of financial statements;Users of financial statements;
iii
iii AsAsseset t vavalualuatition on altalternernatativiveses;;
Q
Q Historical cost;Historical cost;
Q
Q Fair value;Fair value;
Q
Q Net realizable value;Net realizable value;
Q
Q Replacement cost;Replacement cost;
2.
2.
Fin
Fin
anc
anc
ial
ial
acc
acc
oun
oun
tin
tin
g p
g p
rac
rac
tic
tic
es
es
a)
a) AcAccocoununtiting ng ReRecocordrdss i.
i. PePetttty cy casash bh booook ak and nd imimprpresest st sysystetem;m; ii.
ii. CaCash sh bobookoks s (in(inclclududing ing trtransansacactitionsons with banks and their documentation); with banks and their documentation); iii
iii.. SaSales les jojournurnal aal and tnd the she salales les lededgeger;r; iv
iv.. PuPurcrchashase joe journurnal aal and tnd the phe pururchchasease ledger; ledger; v v.. GGeenneerraal jl joouurrnnaall;; v vii.. GGeenenerraal ll lededggeerr vi vii.i. CoCompmpututererizized Aced Accoucountntiningg b)
b) IntIntrodroductuction ion to to DoDoubluble Ee Entrntryy i.
i. DoDoububle le enentrtry y SySyststemem, , AcAccocoununtitingng Equation and Rules of Debit & Credit Equation and Rules of Debit & Credit ii ii.. CoConcncepept ot of cf capapitital al anand rd revevenenueue expenditure; expenditure; iii iii.. CoConcncepept ot of lf liaiabibilility ty anand id incncomomee iv
iv.. EfEffefect oct of prf profofit oit or lor loss oss on capn capitital;al; v
v.. BBalalanancicing ng of of acaccocoununtsts;; vi
vi.. TTririal al babalalancnce;e;
c)
c) AdjAdjustustmements bnts befoefore Fre Finainal Al Accccounountsts i
i.. MMeetthohodds as and nd rrececoorrddiing ng ooff depr
depreciation on Fixed Assets;eciation on Fixed Assets; ii.
ii. PrProvovisisionions fs for or babad dd debebtsts/ w/ wririte te ofoff;f; iii
iii.. PrProvovisisionions fos for disr discocountunts on des on debtbtorors;s; iv
iv.. PrPrepepayaymementnts s and and acaccrucrualals;s; v
v.. IInvnvenentotory ry adadjujuststmmenenttss vi
vi.. BaBank rnk recoeconcnciliiliatation ion anand rd relelatateded adjustments;
adjustments; vii.
vii. ConContrtrol acol accouncounts rts reconeconciliciliatiation anon andd adjustments
adjustments viii
viii.. ErrErrors ors in tin trial rial balbalanceance ix
ix.. SSususpepensnse ae accccouountntss x
x.. OOtthheer ar addjjuussttmmeennttss;; d)
d) The The FinFinal al AcAccoucounts onts of Solf Sole Te Tradraders ers && Partnership
Partnership i.
i. StStatatememenent t of of fifinanancnciaial l poposisititionon i
ii.i. SSttaatteemmeennt t oof f cocommpprrehansive incomeehansive income ii
Foundatio
Foundation n ExaminationExamination Introduction to Financial AccountingIntroduction to Financial Accounting
3.
3.
Recei
Recei
pt and pay
pt and pay
ment acc
ment acc
ounts an
ounts an
d accou
d accou
nts fro
nts fro
m incomp
m incomp
lete re
lete re
cor
cor
ds
ds
4.
4.
Ot
Ot
he
he
r sp
r sp
ec
ec
ia
ia
li
li
ze
ze
d ar
d ar
ea
ea
s
s
a)
a) Accounting for Accounting for inventories (IAS-2)inventories (IAS-2) i
i CoCost st foformurmulas las (L(LIFIFO/ O/ FIFIFOFO/ w/ weieighghteted d avavereragage ce cosost)t);; ii
ii Cost Cost of of invinvententorieories (s (cost cost of of purpurchaschase, e, cost cost of of conconverversionsions, s, othother er costcosts);s); iii
iii MeaMeasursuremenement of it of invennventortories (ies (lowlower of er of coscost or Nt or Net ret realiealizabzable vale value)lue);; iv
iv PrPreseesentantatiotion on of if invenventorntories ies in in finfinanciancial al stastatemtementents.s.
b) Accounting for property, plant and equipment (IAS-16) b) Accounting for property, plant and equipment (IAS-16)
i
i IniInitiatial meal measursuremeement of nt of prpropeopertyrty, pl, plant & ant & equequipmipment (ent (comcomponponentents of cs of costost, ex, exchanchange ofge of assets);
assets); i
iii SSuubbsseeqquueennt ct coossttss;; iii
iii DepDeprereciatciation √ Union √ Unit of meit of measuasure, dre, depreprecieciablable amoue amount, dnt, deprepreciaeciatiotion perin period andod and depreciation method
depreciation method i
ivv DDeerreeccooggnniittiioonn
c) Branch accounts (excluding foreign branches); c) Branch accounts (excluding foreign branches); d) Treatment of the following in partnership accounts: d) Treatment of the following in partnership accounts:
i
i AAddmmiissssiioonn;; ii
ii RetirRetirement / death of partner (excluding life insurance policies, annuities etc);ement / death of partner (excluding life insurance policies, annuities etc); i
iiiii GGooooddwwiillll.. a)
a) ReRececeipipt ant and pad paymymenent act accocoununtsts;; b)
b) InIncomcome ae and nd exexpependndititurure ae accccounountsts;; c)
c) PrPrepaeparatration oion of acf accouncounts fts from rom incoincomplmplete ete rerecorcords.ds.
((Note:Note: CosCost t AccAccountinounting tg t eechniques will not be tested at this stagchniques will not be tested at this stage)e)
Note:
Note:
Reference to IAS shall be deemed to have been changed whenever the same is replaced by a Reference to IAS shall be deemed to have been changed whenever the same is replaced by a new reporting standard.
Foundatio
Foundation n ExaminationExamination Introduction to Financial AccountingIntroduction to Financial Accounting
PAPER B 4:
PAPER B 4:
Introduction to Financial Accounting
Introduction to Financial Accounting
Book Name & Author
Book Name & Author
About the Book
About the Book
1.
1. AccAccounountinting √ g √ The The BasBasis is of of BusBusineinessss Decisions by Meigs William Haka Bettner. Decisions by Meigs William Haka Bettner. 2.
2. ModModern ern AccAccounountantancy cy (V(Voluolume me 1) 1) byby Mukherjee & Hanif.
Mukherjee & Hanif.
3.
3. BusBusineiness ss AccAccountounting ing by by FraFrank nk wood wood andand Alan Sangster.
Alan Sangster.
4.
4. GriGrippipping ng IFRIFRS S VVol.I ol.I pubpublislished hed by by ICAICAPP..
5. Framework for the preparation and 5. Framework for the preparation and presentation of financial statements and presentation of financial statements and International Accounting Standards(1, 2 International Accounting Standards(1, 2 and
and 16) issue16) issued by IASd by IASB and is pubB and is published blished byy ICAP as IFRS Bound Volume 1.
ICAP as IFRS Bound Volume 1.
The book is very useful for conceptual The book is very useful for conceptual understanding.
understanding.
The book covers substantial part of the syllabus The book covers substantial part of the syllabus and is very useful for: final accounts of sole and is very useful for: final accounts of sole traders and partnership, receipts and payments traders and partnership, receipts and payments accounts, accounts from incomplete records, accounts, accounts from incomplete records, branch accounts, and syllabus topics of branch accounts, and syllabus topics of partnership.
partnership.
The book contains almost all syllabus areas The book contains almost all syllabus areas and is recommended for: accounting theory, and is recommended for: accounting theory, financial accounting practices, branch financial accounting practices, branch accounts, syllabus topics of partnership etc. accounts, syllabus topics of partnership etc. Chapters related to inventories (IAS-2) and Chapters related to inventories (IAS-2) and fixed assets (IAS-16) may be studied from this fixed assets (IAS-16) may be studied from this book.
book.
The book contains detailed material including The book contains detailed material including background, rationale and practical examples background, rationale and practical examples of various topics included in the syllabus.
of various topics included in the syllabus.
Supplementary Study Material
Supplementary Study Material
1.
1. IntrIntroductioduction to Financiaon to Financial Accountl Accounting Studing Study Ty Text and Revext and Revision Serision Series by Aies by AT Foulks LT Foulks Lynchynch Pakistan.
Pakistan. 2.
2. IntrIntroductioduction to Financon to Financial Accounial Accounting Stting Study Tudy Text and Rext and Revision Sevision Series by Peries by Proferofessional Bssional Businessusiness Publications (PBP).
Publications (PBP).
Recommended Reading
Recommended Reading
Foundatio
Foundation n ExaminationExamination Mercantile LawMercantile Law
PAPER B 5:
PAPER B 5:
Mercantile Law
Mercantile Law
Module B
Module B
The syllabus aims to enable the students to develop a professional approach towards matters The syllabus aims to enable the students to develop a professional approach towards matters connected with Mercantile Law in the performance of their duties as Chartered Accountants. connected with Mercantile Law in the performance of their duties as Chartered Accountants.
Objective
Objective
Indicative Grid
Indicative Grid
S
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1.
1. In
Intr
trod
oduc
ucti
tion
on to
to leg
legal
al sy
syst
stem
em
2
2.. C
Co
on
nttrra
ac
ct
t
A
Ac
ct
t
1
18
87
72
2
4
40
0
3.
3. Pa
Part
rtne
ners
rshi
hip
p Ac
Act
t 19
1932
32
4.
4. Ne
Nego
gotia
tiabl
ble In
e Inst
stru
rume
ment
nts Ac
s Act 18
t 1881
81
30
30
5.
5. Sa
Sale
le of
of Go
Good
ods
s Ac
Act 1
t 193
930
0
6.
6.
7.
7. Ca
Carr
rria
iage o
ge of G
f Goo
oods b
ds by S
y Sea A
ea Act 1
ct 192
925
5
30
30
100
100
Total
Total
Contents:
Contents:
1.
1.
Int
Int
ro
ro
duc
duc
tio
tio
n t
n t
o L
o L
ega
ega
l S
l S
yst
yst
em
em
Sources of law; process of legislation; and Sources of law; process of legislation; and the legal system in Pakistan
the legal system in Pakistan
2.
2.
Co
Co
nt
nt
ra
ra
ct
ct
Ac
Ac
t
t
18
18
72
72
All sections All sections
3.
3.
Partnership
Partnership
Act
Act
1932
1932
All Sections All Sections
4.
4.
Neg
Neg
oti
oti
abl
abl
e In
e In
str
str
ume
ume
nts
nts
Act
Act
188
188
1
1
All Sections All Sections
5.
5.
Sa
Sa
le
le
of
of
Go
Go
od
od
s A
s A
ct
ct
19
19
30
30
All Sections All Sections6.
6.
T
T
ru
ru
st A
st A
ct 1
ct 1
92
92
0
0
Duties and Liabilities of Trustees; Rights, Duties and Liabilities of Trustees; Rights, powers and liabilities of the beneficiary; powers and liabilities of the beneficiary; Revocation of
Revocation of TTrustrust
7.
7.
Car
Car
ria
ria
ge
ge
of G
of G
ood
ood
s b
s b
y Se
y Se
a Ac
a Ac
t 19
t 19
25
25
All Sections All Sections
(100 marks)
(100 marks)
Note:
Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
of papers could be expected.
Trust Act 1882 Trust Act 1882
I
I
N
N
T
T
E
E
R
R
M
M
E
E
D
D
I
I
A
A
T
T
E
E
Clear your mind of can’t
Clear your mind of can’t
(Samuel Johnson)
Intermediate Examinations
Intermediate Examinations Financial AccountingFinancial Accounting
PAPER C 6:
PAPER C 6:
Financial Accounting
Financial Accounting
(100 marks)
(100 marks)
Module C
Module C
This course is designed to provide understanding of accounting methods and procedures as followed This course is designed to provide understanding of accounting methods and procedures as followed by business organizations. It systematically covers the accounting process of classification, by business organizations. It systematically covers the accounting process of classification, summarization, presentation in the light of established accounting practices and application of summarization, presentation in the light of established accounting practices and application of principles set out by International Accounting and Reporting Standards in the preparation of financial principles set out by International Accounting and Reporting Standards in the preparation of financial statements.
statements.
The course is built on
The course is built on the basic accounting techniques covered in the basic accounting techniques covered in Paper B 4 and is designed to developPaper B 4 and is designed to develop and broaden the knowledge and understanding of more financial accounting concepts.
and broaden the knowledge and understanding of more financial accounting concepts.
Objective
Objective
Indicative Grid
Indicative Grid
S
S
y
y
l
l
l
l
a
a
b
b
u
u
s
s
C
C
o
o
n
n
t
t
e
e
n
n
t
t
A
A
r
r
e
e
a
a
W
W
e
e
i
i
g
g
h
h
t
t
a
a
g
g
e
e
1
1.. A
Ac
cc
co
ou
un
ntts
s
o
of
f
lliim
miitte
ed
d
c
co
om
mp
pa
an
niie
es
s
2
25
5
2
2.. S
Sp
pe
ec
ciia
alliiz
ze
ed
d a
ac
cc
co
ou
un
nttiin
ng
g ttrre
ea
attm
me
en
ntts
s
4
40
0
3
3.. O
Otth
he
er
r a
ac
cc
co
ou
un
nttiin
ng
g a
an
nd
d rre
ep
po
orrttiin
ng
g iis
ss
su
ue
es
s
3
35
5
100
100
Total
Total
Contents:
Contents:
1.
1.
Acco
Acco
unts
unts
of
of
limi
limi
ted
ted
com
com
pani
pani
es
es
a)a) Accounting and preparation of Financial Statements of limited companies in line with theAccounting and preparation of Financial Statements of limited companies in line with the requirement of the Companies Ordinance, 1984 and International Financial Reporting requirement of the Companies Ordinance, 1984 and International Financial Reporting Standards (referred to at the end of syllabus); (excluding liquidation. reconstruction, merger Standards (referred to at the end of syllabus); (excluding liquidation. reconstruction, merger and consolidation);
and consolidation); b)
b) Significant accounting ratios and their relationship.Significant accounting ratios and their relationship.
2.
2.
Spe
Spe
cial
cial
ised a
ised a
ccou
ccou
ntin
ntin
g tr
g tr
eatm
eatm
ents
ents
a)a) AcAccocountunting ing fofor Inr Incocome Tme Taxeaxess ii CCuurrrreennt t yyeeaar r ttaaxx;;
iiii PPrriioor r yyeeaarrs s ttaaxx;; iiiiii DDeeffeerrrreed d ttaaxx.. Note:
Note: The weightages given above are for guidance purposes only and some deviations in setting The weightages given above are for guidance purposes only and some deviations in setting of papers could be expected.
Intermediate Examinations
Intermediate Examinations Financial AccountingFinancial Accounting
b)
b) AccouAccounting trnting treatmeeatment of tangibnt of tangible and intangle and intangible asseible assets includts including theiing their recognr recognitionition,, derecognition, depreciation / amortization and subsequent remeasurement (revaluation, derecognition, depreciation / amortization and subsequent remeasurement (revaluation, impairment, fair value etc);
impairment, fair value etc); c)
c) Accounting tAccounting treatreatment ment of coof contingentingent lont losses sses and cand contingontingent gent gains;ains; d)
d) ReRelalateted pad party rty didisclsclososurureses;; e)
e) ReRevevenunue e ReRecocogngnititioionn
3. Other accounting and reporting issues
3. Other accounting and reporting issues
a)a) ConversConversion of ion of partnerpartnerships ships to a lto a limited imited compancompany and y and mergemerger of fr of firms;irms; b)
b) AccountAccounting ting treatmreatment of ent of profprofit and it and loss floss for the or the period period includiincluding:ng: i
i Changes in accounting policies;Changes in accounting policies; ii
ii Changes in accounting estimates and errors;Changes in accounting estimates and errors; iii
iii Events occurring after the balance sheet date;Events occurring after the balance sheet date; c)
c) ReRecogcognitnition oion of bof borrrrowowing cing cosoststs.. d)
d) AcAccocoununtiting fng for lor leaeasesess
The IFRS included in Syllabus are:
The IFRS included in Syllabus are:
IIAASS√√ 11 IIAASS √√22 IIAASS√√ 77 IIAASS √√ 88 IIAASS √√1100 IIAAS S √ √ 1122 IIAAS S √ √ 1166 IIAAS S √ √ 1177 IIAAS S √ √ 1818 IIAAS S √ √ 2233 IIAAS S √ √ 2244 IIAAS S √ √ 3366 IIAAS S √ √ 3377 IIAAS S √ √ 3388
Note:
Note:
1.
1. All itAll items ems includeincluded in d in the sthe syllabuyllabus of s of IntrIntroductioduction to on to FinanciaFinancial Accol Accounting unting paper paper of Mof Module odule BB may again be tested in the above paper.
may again be tested in the above paper. 2.
2. TTo encouro encourage prage proper unoper understderstanding anding and appand applicatiolication of knon of knowledge wledge no quesno questions rtions requirinequiringg word by word reproduction of contents of IASs \ IFRS will be asked.
word by word reproduction of contents of IASs \ IFRS will be asked. 3.
3. ReferReference tence to local o local and intand internationaernational prl pronouncemonouncements sents shall bhall be deeme deemed to ed to have bhave been chaeen changednged whenever the same is replaced by a reporting standard.
