VISION “To be the Preference in Value Optimization for Business” MISSION STATEMENT “To develop strategic leaders through

imparting quality education and training in Management Accounting, to continually set and upgrade professional standards and to conduct research, bringing value-addition to the economy”

SYLLABUS - 2005

Estd. 1951

Institute of Cost and Management Accountants of Pakistan
(Constituted under Cost & Management Accountants Act 1966)

Head Office: ST-18/C, Block-6, Gulshan-E-Iqbal, Karachi-75300 Telephone: (92- 21) 99243900,1,2 & 4 Fax: (92- 21) 99243342 Website: www.icmap.com.pk

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN

List of Course

Code Stage-1

S-101 Fundamentals of Financial Accounting S-102 Business Economics S-103 Business Laws Stage-2 S-104 Business English S-201 Fundamentals of Cost and Management Accounting S-202 Management and Marketing S-203 Business Mathematics & Statistics Stage-3

S-204 Introduction to Information Technology S-301 Financial Accounting S-302 Business Taxation S-303 Cost and Management Accounting - Performance Appraisal S-304 Presentation & Communication Skills Stage-4

S-401 Advanced Financial Accounting & Analysis S-402 Integrated Management Stage-5 S-403 Corporate Laws & Secretarial Practices S-501 Financial Reporting

S-502 Management Accounting Decision Making S-503 Risk Management and Audit Stage-6

S-601 Strategic Financial Management

S-602 Information Systems and I.T. Audit

S-603 Management Accounting - Business Strategy

SYLLABUS-2005

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN
S-101 - FUNDAMENTALS OF FINANCIAL ACCOUNTING
i. Introduction: This course basically deals with the Fundamentals of Financial Accounting. The students are expected to learn an understanding of accounting concepts, principles, procedures and systems for preparation of financial statements, computer-based accounting application, accounting treatment of current assets and liabilities, tangible and intangible assets. Students should become adept at classifying problems, situations and applying the required accounting principles. ii. Objectives: To provide the students with:  an applied knowledge of accounting principles, concepts and skills of accounting, and preparing financial statements manually and through computer. INDICATIVE GRID: iii. Outcomes: On completion of this course, students should be able to:  apprehend and explain the fundamental accounting principles and concepts,  record transactions in journal,  prepare ledger accounts, trial balance,  prepare bank and cash accounts, bank reconciliation statements and petty cash statements,  make year-end adjustments, prepare adjusted trial balance,  prepare profit and loss account and balance sheets from adjusted trial balance,  prepare manufacturing accounts,  calculate depreciation by using different methods,  prepare bad debts accounts and provision for doubtful debts,  compute inventory by using different valuation methods, WEIGHTAGE 20%

STAGE-1

Note: The weightage shown against each section indicates, study time required for the topics in that section. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. CONTENTS SECTION – A 1. Accounting Concepts and Principles Definition and scope of financial accounting; basic principles of accounting; concepts and conventions underlying accounting statements, the impact of International Accounting Standards as applicable in Pakistan. (IAS 1,2, & 18). 2. Accounting Procedures and Systems Principles of double-entry book-keeping; accrualbased accounting system, adjusting, closing and reversing entries, methods of keeping and

SYLLABUS CONTENT AREA SECTION – A 1. Accounting Concepts and Principles (IAS 1,2, & 18) 2. Accounting Procedures and Systems SECTION-B 3. Control Accounts 4. Inventory Accounting 5. Accounts Receivable 6. Accounting for Bills of Exchange 7. Payroll Accounting 8. Cash Control 9. Tangible Non-Current Assets (IAS–16 including Revaluation of Assets) 10. Intangible Non-Current Assets (including IAS – 38 portion only) 11. Rectification of Errors 12. Computer based Accounting Systems SECTION-C 13. Preparation of Financial Statements of a Sole Proprietor (trading, service & manufacturing concern) TOTAL

60%

20% 100%

SYLLABUS-2005

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN
presenting books of prime entry (cash book, petty cash book, sales journal, purchase journal, purchase and sales return journals etc); principal and subsidiary ledgers, trial balance. SECTION-B 3. Control Accounts Receivable control accounts; payable control accounts, errors of control accounts (including subsidiary ledger) and reconciliation of control accounts and subsidiary ledger. 4. Inventory Accounting Nature and classes of inventories, periodic and perpetual inventory systems, periodic and perpetual inventory system; requirements and application of IAS-2. 5. Accounts Receivable Receivables and its subsidiary ledger; recording bad debts and its recovery; estimation of allowance for bad and doubtful debts (both income statement and balance sheet approaches of estimation). 6. Accounting for Bills of Exchange Recording bills of exchange, endorsements and discounting of bills, accommodation bills. 7. Payroll Accounting Objectives of payroll accounting; internal control over payroll, gross earnings of employees, computing gross earnings; calculation and recording of payroll taxes and deductions; maintenance of payroll journal; accounting for payroll taxes. 8. Cash Control Preparation of petty cash statement and maintenance of petty cash system; preparation of bank reconciliation statement; cash receipts and payments accounts. The purpose, requirements and process of internal audit relating to cash control; financial control, errors and frauds. 9. Tangible Non-Current Assets (IAS-16 including Revaluation of Assets) Recognition and measurement of tangible noncurrent assets; distinction between and application of principles of capital and revenue expenditures, concept of depreciation; methods and recording of depreciation; change of method; revision of life of an asset; accounting for disposal and exchange of tangible non-current assets; application of IAS-16. 10. Intangible Non-Current Assets (including IAS38 Portion only) Nature and composition of intangible assets; accounting treatment of intangible assets of goodwill and research and development; methods of goodwill computation; impairment of goodwill (concept and recording entry); capitalization of development cost; amortization development cost (concept and recording entry); application of IAS-38 in respect of research and development and goodwill. 11. Rectification of Error Type and corrections of errors not affecting trial balance; corrections of errors affecting trial balance including suspense accounts. 12. Computer-based Accounting Systems Computer-based application in accounting; advantages of computer-based systems, ways of achieving Internal controls in a computer-based accounting system. SECTION- C 13. Preparation of Financial Statements of a Sole Proprietor (both trading & manufacturing concern) Elements and components of Financial Statements in accordance with format of IAS-1; Financial Statements (balance sheet, income statement and cash flow statement) of sole proprietor in respect of trading; reference to basic financial ratios (liquidity ratios only).

SYLLABUS-2005

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN
Recommended Books
TITLE Frankwood Business Accountancy Accounting Principles IFRSs/IASs Accounting: The Basis for Business Decision CORE READINGS AUTHOR PUBLISHER Frankwood Pearson Education Ltd, England Jerry. J IASB Robert F. Meigs, Jan R. Williams, Susan F. Hakar, Mark S. Bettner Jack L. Smith Jack L. Smith John Willey & Sons. Inc., England International Accounting Standards Board, London. Irwin McGraw-Hill, New York

Accounting Principles Financial Accounting Fundamentals An Introduction to Accountancy Advanced Accounting

McGraw-Hill Company Inc., New York

PBP Professional Business Publications, Lahore. ADDITIONAL READINGS S.N. Maheshwari Vikas Publishing House, New Delhi. S.P. Jain Kalyani Publisher, New Delhi.

SYLLABUS-2005

This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. determinants and measurement of elasticity and law of supply.  explain law of demand and causes of change in demand other than change in price. International Trade SECTION-C ECONOMY OF PAKISTAN 11. Demand. Foreign Trade and Economic Assistance INDICATIVE GRID:  identify and explain types of internal and external economies. WEIGHTAGE STAGE-1 40% 30% 30% TOTAL 100% Note: The weightage shown against each section indicates. students should be able to:  explain the basic concepts of scarcity choice. Cost and Revenue 6.BUSINESS ECONOMICS i. Money Banking and Finance 10. Price and Output Determination SECTION-B MACRO-ECONOMICS 7. SYLLABUS CONTENT AREA SECTION-A MICRO-ECONOMICS 1. Scale of Production 5.  differentiate between domestic and international trade. Keynes Theory of Employment and National Income 9. differentiate between small and largescale production. to cost and management accounting for taking managerial decisions. Growth. Market Structure.  explain the cost of production.  identify macro-economic concepts to explain the measurement and determination of national income.  explain how under perfect competition the equilibrium price of a commodity is equal to its marginal cost and average cost of production.  explain the problems and performance of industrial sector in Pakistan and to  explain foreign private investment and its impact on Pakistan economy. Objectives: This course enables the students to:  identify how a market economy functions. Outcomes: On completion of this course.  distinguish between implicit costs and explicit costs.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-102 . Concept of National Income 8. Introduction: This course is designed to focus on fundamentals of economic concepts. elasticity. Industrial Sector 14. Supply and Price Determination 4.  explain inflation and its causes. ii. in order to enable them to identify and correlate various economic issues. iii. study time required for the topics in that section.  explain how the price system works by applying appropriate economic concepts and principles. and develop understanding and skill of the students.  explain the functioning of a market economy. SYLLABUS-2005 . and  identify the economic factors. Consumer Behaviour and its Analysis 3.  describe types of elasticity of demand. Structure and Performance of Pakistan Economy 12. influencing the behaviour and performance of firms and industries.  describe the consumer behaviour and its analysis. Nature and Scope of Economics 2. Agriculture Sector 13. 10.  develop an understanding of the economic environment.  develop the economic analysis for the guidance and information of decision-makers. 8. 9. under which business operates.

average and total revenue in perfect and imperfect competition. SECTION. Determinants and importance of elasticity of demand. shift in demand. planned and mixed economymerits and demerits. inflation. Functions of commercial banks. its problems and measures for its improvement. taxation. Keynes Theory of Employment and National Income Consumption saving and investment function. Nature and Scope of Economics Basic concepts. Consumer and Producers surplus. Agriculture Sector Role of agriculture in economic development. performance and problems of industrial sector. GNP.economic wants and allocation of scarce resources. 10.advantages and disadvantages. credit creation and role of commercial banks in economic development of Pakistan. Laws of returns. NNP. International Trade Balance of trade and balance of payment. NI at factor cost and PI. Very brief introduction of returns to scale. Role of ZTBL in the supply of rural credit.ECONOMICS. oligopoly and monopolistic competition) in short run and long run. Supply stocks and supply. Industrial Sector Overview of industrial sector of Pakistan.its causes . performance and problems of agriculture sector. inflationary and deflationary gaps.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN CONTENTS SECTION-A MICRO-ECONOMICS 1. labour capital and enterprise. 6. Supply and Price Determination Demand. shift in supply. Agriculture marketing. Small and large scale production. Law of diminishing marginal utility. Market equilibrium-surplus and shortage conditions. Production possibility frontier and concept of opportunity cost. Consumer Behaviour and its Analysis Utility-kinds and aspects. law of supply. 4. Growth. Protectionism or barriers to free international trade. budget. 7. Marginal. Scale of Production Production function. measurement of elasticity of demand. Natural resources. Price discrimination in monopoly. Exchange rate determination. causes of adverse balance of payment and methods to correct them. Brief description of cross and income elasticity of demand.B MACRO.Determinants of demand. Methods to measure national income Difficulties and importance. 13. WTO. Price and Output Determination Characteristics of perfect and imperfect competition (monopoly. Market Structure. Functions of central bank . Percentage and total outlay methods. Investment multiplier. (Special emphasis on law of diminishing returns). 12. Key features of market. income effect and substitution effect. Concept of National Income Circular flow of national income. SYLLABUS-2005 . Arguments in favor or against protection. 5. Cardinal and ordinal approaches of utility. Demand.overview of economic policies in Pakistan. Concept of implicit and explicit cost. Indifference curve analysis and consumer equilibrium. Brief introduction of money and capital market. Elasticity of supply-Determinants of elasticity of supply. monetary policy and role of central bank in the economic development of Pakistan. needs and types of agriculture credit. 9. Internal and external economies of scale. Structure and Performance of Pakistan Economy Growth and structure of economy. effects and measures to control. law of demand. acceleration. Money Banking and Finance Nature and functions of money. problems and solutions of rural credit. case for and against agriculture tax. Concepts of national income GDP. Cost and Revenue Average. 3. marginal and total cost. Price effect. 8. SECTION.C ECONOMY OF PAKISTAN 11. elasticity of demand. 2. Determinants of supply. quantity theory of money.

Berkshire SL6 2QL. privatization of state-owned enterprises. Dr. New York. Khawaja Amjad Saeed David N. Brue PBP Prof. Economic Advisor Wing PUBLISHER McGraw-Hill Companies. Samuelson and William D. Inc. Princeton Road. A. NJ 08520.O. New Delhi-11055. New York. Government of Pakistan.. Professional Business Publications. Ram Nagar..P. S-1 Hightslown. Princeton Road. NJ 08520. forms of foreign economic assistance.. NY 10020. Maidenhead. Foreign Trade and Economic Assistance Exchange rate and convertibility of Pak rupee. 14. Europe Shoppenhanaers Road. S1 Hightslown. SYLLABUS-2005 . Shyam Lal Charitable Trust. Dr. New York. 1164. Inc. Distributed by Oxford University Press.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN causes of industrial backwardness. Zaidi PUBLISHER Institute of Business Management. Lahore. Karachi. Princeton Road. Co. McGraw-Hill. Nordhaus David Begg / Stanley Fischer & Rudiger Dornbusch Campbell R. needs and types of industrial credit. New York. Inc. England. G. Recommended Books Economics TITLE CORE READINGS AUTHOR Paul A. McGraw-Hill. devaluation and its impact on Pakistan’s economy. Hyman Kewal Krishan Dewett/Adarsh Chand S. foreign private investment and its impact on Pakistan’s economy.. 1221 Avenue of the Americas. Box No. Co. cost and benefit of foreign economic assistance. Karachi. NJ 08520. Hyman David N. McGraw Hill Book Co. Oxford University Press. Co. S1 Hightslown. Inc. Khawaja Amjad Saeed Finance Division. McConnell/Stanley L. Economics Economics Economics for Business Economy of Pakistan Pakistan Economic Survey (Latest) Economy of Pakistan TITLE Pakistan: Economic and Social Statistics Micro Economics 4th Edition Macro Economics 4th Edition Modern Economic Theory Issues in Pakistan’s Economy Saeed Nasir and Kamal Haider ----ADDITIONAL READINGS AUTHOR Prof. McGraw-Hill. Lahore.

 describe how an agency is created. students On should be able to:  identify and describe the sources of business laws. contract of bailment.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-103 . 1881 6.  Identify and explain the provisions enunciated in Industrial Relations Act. governing the operational aspects of business. Sale of Goods Act.  advise the management on the financial and non-financial implications of business laws. discharge.  differentiate between contract of Indemnity and Guarantee. 1968.  identify and explain the rights and liabilities of parties to a contract. transfer of title of goods. West Pakistan Industrial and Commercial Employment (Standing Order) Ordinance. 9.BUSINESS LAWS i. 2008. transfer of property.  identify and explain the provisions contained in Negotiable Instruments Act. performance of the contract of sale. 1968.  explain the kinds of contract of sales. Partnership Act. Outcomes:  completion of this course. 2008 8.  differentiate between hire-purchase contract and deferred payment sale. 1881.  describe the ways when an agency is terminated. 1923 and West Pakistan Industrial and Commercial Employment (Standing Order) Ordinance. 1930 4.  identify and explain the conditions of sale of goods. when principal is disclosed or undisclosed.C INDUSTRIAL LAW 7. TRIPS and TRIMS SECTION. Social Security Ordinance. Workmen’s Compensation Act. enabling them to:  formulate various business plans helpful for operational and long-term decisionsmaking. Introduction: This course is designed to focus on the important topics of Business Laws. 1932. Introduction to Legal System of Pakistan SECTION-B BUSINESS LAWS 2. essentials of valid contract performance. study time required for the topics in that section. 1872 3. INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION . Industrial Relations Act. The Contract Act. A thorough study of this course will develop students’ knowledge and ability to comprehend the salient features of business laws easily. 1965 TOTAL WEIGHTAGE 10% 60% 30% 100% Note: The weightage shown against each section indicates. breach of contract and damages for breach of contract.  identify and explain various laws contained in Partnership Act.  explain the classes of agent and describe the agent’s duty to the principal and principal’s duty to agent. for the effective operations of the business. Factories Act 1934 / Workmen’s Compensation Act 1923 10. Negotiable Instruments Act.  identify and explain various aspects of contracts such as communication. STAGE-1 ii. 1932 5. SYLLABUS-2005 . iii.A 1. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Objectives: To provide the students with a knowledge of business laws. acceptance and revocation of proposals.

modes of dissolution of a firm. The Contract Act. general duties of partners. acceptance and revocation. registration of firm. re-constitution of a firm (incoming & outgoing partners). foreign instruments. contracts which need not be performed.4 Maxims Relating to Contracts & Torts a) Caveat Emptor . proposal. Structure of Subordinate and Superior Courts d. Coercion.A contract founded upon an illegal or immoral consideration cannot be enforced. the price. a) Ubi jus ubi remedium – There is no wrong without a remedy. negotiation of instruments and its kinds. qualified duties of partners. creation of agency. the Doctrine of implied authority. Fraud. kinds of agents. Elements/ingredients of a contract. remedies of breach of contract. ambiguous instruments. kinds of partnership. rights of partners.5 Maxims Expressing Rules Founded on Public Policy a) Salus populi est suprema lex – Regard for the public welfare is the highest law. parties to negotiable instruments.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN CONTENTS SECTION -A promises. 1872 Difference between Contract and agreement. Void. Sale of Goods Act. formalities of the contract of sale. the Doctrine of holding out. inland instruments. Bailment. Mistake. 6.The law assists those who are vigilant. voidable and enforceable agreements. rights of un-paid seller. the Doctrine of “nemo dare potest quod non-habet” and its exceptions. Introduction to Legal System in Pakistan a. Definition and sources of law b. a) Nexo Dat Quod non Habet . TRIPS and TRIMS Laws relating to TRIPS and TRIMS including intellectual property rights. void agreements. flaws in capacity.3 Maxims Relating to Property. extent and kinds of agent’s authority. Trade marks Act and Copy Right Act. Principal and agent. Ignorance of law does not 1. discharge from liabilities on negotiable instruments. presentment of instruments.Enjoy your own property in such a manner as not to injure that of another person. the Doctrine of “caveat emptor”. b) Ignorantia Facit Excusat . performance of the contract of the sale. 6. actual breach of contract. cheques.Ignorantia Juris Non Excusat – Ignorance of fact excuses. liabilities of parties.B BUSINESS LAWS 2. 1. doctrine of frustration. admission of a minor to the benefits of partnership. contract of indemnity and guarantee. c) Respondeat Superior – Let the principal be held responsible. SECTION. transfer of property as between seller & buyer. 1. Free consent. liabilities of partners. 3. Legal Maxims LEGAL MAXIMS 1. performance of reciprocal 5. subject matter of contract of sale.2 Intellectual Property Rights Laws in Pakistan SYLLABUS-2005 . Interpretation of Statutes (Acts and Ordinances) c. presumptions as to negotiable instruments. anticipatory breach of contract. liabilities of principal to third party. suits for breach of the contract of sale. 1932 Essentials and the nature of partnership.1 Introduction a) Concept of Intellectual Property b) Intellectual Property Rights c) Necessity of Intellectual Property Rights Protection d) International Intellectual Property Organizations e) Future of Intellectual Property Rights 6.1 Maxims expressing fundamental legal principles. duties and rights of principal scope. 1.Let the Buyer Beware.No one gives what he does not possess. bill of exchange. Negotiable Instruments Act. Non Dormientibus jura Subveniunt . time and place for performance. quasi – contracts. contracts which must be performed. auction sale.2 Maxims Relating to the Mode of Administering Justice. not to those who sleep over their rights. b) Sic utere tus utalienum non laedas . inchoate stamped instruments. Misrepresentation. various discharges of contracts. 4. termination of agency. contingent contracts. duties and rights of an agent. personal liability of agent to third party. Undue Influence. 1930 Contract of sale and its kinds. 1881 Promissory note. effect of non-registration. Partnership Act. conditions and warranties. a) No man is to be a judge in his own cause. b) Ex turpi causa non oritur actio / Ex dolo malo non oritur actio . 1. b) Vigilantibus. appropriation of payments.

Ilyas Khan Sun-rise Publishing Qazi Villa. employment of women and children etc. Workman’s Compensation Act 1923. of Pakistan Luqman Baig Prof. disablement pension etc. S. 1962 b) The Registered Designs Ordinance. commutation and distribution of compensation. benefits including sickness and maternity benefits. penalties and procedures. Standing Order West Pakistan Industrial and Commercial Employment (Standing Order) Ordinance. Govt. Karachi. death grants. 2008 Trade unions. Intellectual Property laws in Pakistan and international Treaties on IPRs Broom’s Legal Maxims Handbook of Legal Terms & Phrases Judicially Defined. Kapoor Vikas Publishing House.D. of Pakistan. New Delhi. (Only Introduction) SECTION. 2001 f) The Merchandise Marks Act. A/17-2-B.C INDUSTRIAL LAW 7. C. PUBLISHER ADDITIONAL READINGS Ghanzanfar Academy Pakistan. 1860. Q.P. 6. working holidays and overtime. settlements and awards. Murree Road. New Delhi 110055. provisions regarding definitions. Chaudhry Chaudhry M. working hours including rest intervals. India. Box No. Mumtaz Hasan Road. 30.C. Bureau of Labour Publications. Publications Division. Agreements Conventions. Protocols And Regulations. 9. Property and other Marks in the Pakistan Penal Code. Federal Law House.O. Box 5833. Main Plaza. Chandni Chowk.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN a) The Copyright Ordinance. Pakistan Law House.O. G. Etc. Shukla CORE READINGS AUTHOR Govt. 2000 e) The Trade Marks Ordinance. methods of calculating wages. 1950 h) The Electronic Transaction Ordinance. 1965. Kuchhul M. labour courts. Urdu Bazar Karachi Institute of Business Management. 10. Ram Nagar. Business Centre. 1889 g) The Trade Marks (Invalidation and Summary Registration) Act. Shafi N. workers’ participation and dispute resolution. 2000 d) The Patents Ordinance. Sultan Chand & Sons. Social Security Ordinance. Shafi / P. Zafar Iqbal Herbert Broom M. report of fatal accidents. 1968. Wadud G. Rashid Minhas. Lahore. employers’ liability for compensation. Mercantile Law and Industrial Law The Intellectual Property. Gulshane-Iqbal Karachi 75300.M. and medical examination etc. 8. Dr. Road. decisions. Karachi.. Chand & Co. amount and payment of contributions. 8. 2000 c) The Registered Layout-Designs of Integrated Circuits Ordinance. Factories Act 1934 / Workmen’s Compensation Act 1923: Provisions regarding health and safety. regarding definitions. SYLLABUS-2005 . 2002 i) Section relating to infringement of Trade. 1164. Housing Society. Rawalpindi. Khawaja Amjad Saeed M. authorities. National Industrial Relations Commission. review.3 International Treaties. Recommended Books Business Law Bare Acts TITLE (A Manual of) Mercantile Law Mercantile Law Mercantile and Industrial Laws in Pakistan Labour Code Elements of Mercantile Law M. P. Sweet and Maxwell London & Pakistan Law House. Karachi – 74000. A. causation and remoteness of damage. Industrial Relations Act. records and returns. Provincial Social Security Ordinance 1965: provisions. amount of compensation. National Cement. New Delhi.

active and passive. understand and speak English correctly and fluently. (c) Listening and Speaking.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-104 . antonyms and synonyms.  listen. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. SECTION – B 2. pre’cis and reports correctly. could. the students must be given different business situations for learning presentation skills and situations can be such as: talking about responsibilities at work. should. phrases and clauses. (b) Reading and Writing. Objectives This course enables students to:  write and speak grammatically correct English. pairs of words.  give presentation on a given business situation effectively.  listen and comprehend various situations of business environment. expressing effectively in meetings and interviews. punctuation. types of sentences. (simple. SYLLABUS-2005 . use of auxiliaries (can. tenses. WEIGHTAGE 30% 40% 30% Total 100% STAGE-1 ii.BUSINESS ENGLISH i. Writing essays. shall. kinds of sentences.  write business letters. Introduction Business English consists of the following three sections: (a) English Grammar and Usage. making effective presentation. sales negotiations etc. will. interrogative. Reading and Writing Reading comprehension of paragraphs and articles. and preics. words often confused and misused. complex. students should be able to:  know the correct use of grammar. English Grammar and Usage Structure of a sentence. etc). INDICATIVE GRID SYLLABUS CONTENT AREA SECTION – A 1. direct and indirect narration.  develop their writing and speaking skills in different business situations. correct use of articles. receiving visitors. (affirmative/negative. prepositional combinations and verbal phrases. study time required for the topics in that section. SECTION – C 3. English Grammar and Usage SECTION – B 2. parts of speech. prepositions. participation in group discussions. compound). exclamatory. Outcomes On completion of the course. CONTENTS SECTION – A 1. Reading and Writing SECTION – C 3. informal letters. Listening and Speaking Note: The weightage shown against each section indicates. subject and predicate. imperative). iii. seeking information. would.. report. synthesis of sentences. Listening and Speaking In the class rooms.

Laurent.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books TITLE Mastering English Grammar CORE READINGS AUTHOR S. Wren / H. Basingstoke. Houndmills.C. Ram Nagar. South Yarra. Long Acre. Martin Oxford University Press.K. writing. New Delhi . magazines and electronic media to develop reading. S. Pearson Longman ESL St. Hooper P. listening and speaking skills.110055 Note: Teachers and students are encouraged to use authentic materials from newspapers. 627 Chapel Street. Macmillan Education. Hampshire RG21 2XS and London. Quebec Canada .S. London WC2E 9AN U. Chand & Company Ltd 7361. Burton PUBLISHER Macmillan Education Ltd.H4S 1R3 Pitman Publishing Ltd... H. SYLLABUS-2005 . Understanding and Using English Grammar Betty Schramfer Azar English for Business Studies 3rd Edition L. Karachi. Gartside Sadler Hayllar Powell ADDITIONAL READINGS Language Three & Four A Quick English Reference High School English Grammar and Composition J. Victoria 3141. 128.

Costing department and its relationship with other departments. Cost elements. Role of cost accounting in a management information system. Objectives: To provide the students with an appropriate knowledge of Cost and Management Accounting to enable them to:  apply cost methods and techniques for preparing and presenting information for decision-making and cost control. overheads variances. labour. Uses of cost data. Factory Overhead Costing and Control 6. students should be able to:  understand cost concepts. material. The course deals with the cost concepts. labour. Statement of cost of goods manufactured and sold.C INFORMATION FOR PLANNING AND CONTROL 7.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-201 . scope. respectively. factory overhead costing. Costing Systems SECTION . Cost Classification and Flows SECTION . CONTENTS SECTION –A INTRODUCTION 1. Concept and Scope of Cost Accounting 2.FUNDAMENTALS OF COST AND MANAGEMENT ACCOUNTING i. and INDICATIVE GRID SYLLABUS CONTENT AREA SECTION . cost flow and classification. Cost flow. Concepts and Scope of Cost Accounting Definition and concept of cost. SYLLABUS-2005 . Product and period cost. Material Costing and Control 4. Fixed and variable cost. Outcomes: On completion of this course.  calculate and interpret material.A INTRODUCTION 1. STAGE-2 ii. Labour Costing and Control 5. objectives. cost classification and cost flows.  prepare cost of production report and cost statement under process cost accounting system and job order costing system. iii. marginal costing. 2. Semi-variable and step fixed cost. Cost accounting v/s financial accounting. Sources and uses of cost data. Standard Costing 8. factory overhead costing and control. standard costing and budgeting.B COST ACCOUNTING 3. Marginal Costing and Break-even analysis WEIGHTAGE 20% 50% 30% TOTAL 100% Note: The weightage shown against each section indicates. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Introduction: This course is designed to make the students familiar with the application of basic methods and techniques of cost and management accounting. Controllable and uncontrollable cost. Cost object.  prepare standard costs and variances. Cost Classification and Flows Direct and indirect cost. labour. study time required for the topics in that section.  understand and explain material.

Straight piece rate and differential piece rate. 50-51 Bedford Row. Group bonus. Stock taking and perpetual inventory. Material Costing and Control Procedure of material procurement. Economic order quantity. Repeated distribution and algebraic method for reciprocal. Effect of quantity discount on EOQ. safety stock and maximum stock. Reorder level. 5. Types of Costing Systems Establishment of cost accounting system. Introduction to process costing. New Delhi. Overtime and idle time. S-1 Hightslown. Over and under applied factory overhead and its disposal. Thomson Learning. Integrated and interlocking cost accounts. Operation / service costing SECTION . NJ08520. High Holborn Ouse. McGraw-Hill Company Inc. Incomplete process and concept of equivalent units. 4. Principles of double entry system of costing.S. Time sheet and job cards. Lahore.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN SECTION – B COST ACCOUNTING 3. Chart of account and coding for costing. Standard Costing Preparation of standard cost. Variable overhead expenditure and efficiency variances. Datar George Foster ADDITIONAL READING SYLLABUS-2005 . Labour Costing and Control Direct and indirect labour. Contribution margin to sales ratio (C/S ratio). apportionment and TITLE Cost Accounting Cost Accounting reapportionment of overhead costs. Incentive wage plan. U. Labour turnover rate. service department costs. Lucy CORE READINGS Management Accounting Fundamentals Cost & Managerial Accounting Management and Cost Accounting Cost Accounting PBP Jack Gray & Don Ricketts Colin Drury Charles T. Treatment of differences between physical and book stock. valuation and the pricing for material issue. New York.. 8. LIFO and weighted average for material. Two-bin system.C INFORMATION FOR PLANNING AND CONTROL 7. Aldyne Place. Payroll. DP Publications. Shepherds Bush Green. Ohio. London Prentice Hall of India. Departmentalisation of overhead. Cincinnaci. Factory overhead cost: planned. Remuneration methods. 142-144 Uxbridge Road. Predetermined overhead applied rate. ABC Control. Usry. Horngren. London W12 8AW. Hammer & Adolph Matz T. Marginal Costing and Break-even Analysis Marginal cost and contribution margin. Labour rate and efficiency variances. Margin of safety ratio (M/S ratio).A. AUTHOR F. Break-even in units and value. applied and actual. Format of process account and cost of production report Job order costing. Fixed overhead budget and volume variances. Productivity and efficiency. 6. Allocation.. Princeton Road. Srikant M. H. The use of FIFO. Material price and usage variances. Professional Business Publications. Break-even graph PUBLISHER South Western Publishing Co. Factory Overhead Costing and Control Classification and collection of overhead.

planning tools and techniques. Sales Promotion and Public Relations 9. human resource management. This will help the students to identify.2 Organizing and Managing Change Defining organizational structure and design.  make available chain management as a strategic process. Linkage between Individual. and the role of technology in modern marketing. WEIGHTAGE SYLLABUS CONTENT AREA SECTION-A MANAGEMENT 1. Group.  examine and analyse the problems associated with quality in an organisation.  examine the career planning activities of an organisation. Roles of a Manager iii. iii. the planning process. Pricing Products: Pricing Considerations Approaches and Pricing Strategies 8. External Environment of an organization v. Introduction to Organisations and Management 2. SECTION-A MANAGEMENT 2.  visualise and analyse business model of an organisation. students should be able to:  explain the various functional areas of an organisation. Managerial ethics and decision Making process.MANAGEMENT AND MARKETING i. Introduction to Organisations and Management i. Management Process 3. Definition of an Organization iv. Outcomes: On completion of this course. types of plan.1 Planning and Decision-Making The definition of planning. Other Topics in Marketing Management TOTAL 50% 50% 100% Note: The weightage shown against each section indicates.  assess various means for introducing change. operations management and marketing management. and  evaluate and describe the marketing concepts. forms of 1. Introduction: This course consists of management. Product and Services Strategy 7. study time required for the topics in that section. Advertising. Distribution Channels and Logistics Management 10. factors affecting organizational design. and INDICATIVE GRID: STAGE-2  understand the techniques for strategic marketing management to promote business. correlate and apply these concepts to other core subjects of Professional stages for decision-making. Human Resource Management SECTION-B MARKETING MANAGEMENT 5. ii. 2. vi. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.  understand methods and procedures to manage the people. Internal Environment of an organization SYLLABUS-2005 . Introduction to Marketing Management 6. Definition of Management ii. and CONTENTS Structures within an organization. Understanding Groups & Teams 4.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-202 . Management Process 2. change management. Objectives: This course enables the students to:  appreciate the theoretical approaches of organisational management.

responding to the price changes. currents issues in motivation. Product and Service Strategy SYLLABUS-2005 . Human Resources Management The human resource management process. product bundle pricing. exchange. 10. needs. from theory to practice.2 Leadership Managers verses leaders. advertising evaluation. setting objectives.B MARKETING MANAGEMENT 5. 3. reorganization (merger and acquisition). new-product pricing strategies. optional-product pricing. product support services. product mix decisions. marketing strategy in the digital age. goals of the logistics functions. value-based pricing. market targeting. positioning product in the market. the change process. channel behaviour and organisation. Demand and Capacity Management. 4P’s of marketing. number of channel levels. organisations. market-skimming pricing. nature and characteristics of a service. Sales Promotion and Public Relations Major decisions in advertising: organising for advertising. individual product decision. performance appraisal. sources of power. orientation. product classifications: consumer products. major Forces shaping the digital age.. line and staff authority. Other Topics in Marketing Management Marketing research.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN organizational design. groups and teamwork. legal and regulatory influences. developing the salespromotion programme. labelling. segmented pricing.1 Difference between groups and teams. product mix pricing strategies: product-line pricing. persons. turning groups into effective teams. evaluating and selecting market segment. transactions and relationships.3 Motivating Employees Concept of motivation. contemporary theories of leadership. conducting e-commerce. Marketing in the Digital Age. Understanding Groups and Teams 3. Advertising. 9. rightsizing. levels of market segmentation. (in MBO). vertical marketing systems. initiating price changes. physical distribution and logistics management: nature and importance of physical distribution and marketing logistics. restructuring. hybrid marketing systems. Distribution Channels and Logistic Management The nature of distribution channels. resistance to change. Market Segmentation. price changes. and competition-based pricing. places and ideas. market-penetration pricing. The product service continuum. economic and social influences. technological. What is a product and product life cycle. Emarketing domains. need of change.3 Controlling and Decision Making Concept of control. international advertising decisions. industrial products. markets. employees training. 8. selecting salespromotion tools. product line decisions. Introduction to Marketing Management Marketing defined. promotional pricing. TQM & ISO Systems. human resources planning. the forces of change. packaging. 7. recruitment and selection. the human resources environment. wants. developing and managing effective teams 3. effective delegation. inventory Management. Lewin’s three step change modes. psychological pricing. types of control. services marketing. SECTION . contemporary issues in leadership. 4. geographical pricing. Six Sigma and Kaizen. price-adjustment strategies: discount and allowance pricing. setting the advertising budget. captive-product pricing. by-product pricing. labor relation influences. application of organizational design. levels of product. understanding group behavior and group decision-making process. integrated logistics management. compensation and benefits. Business Process Re-engineering. 3. advertising strategy. public relations. horizontal marketing systems. Global influences. Management and Organizational Change. 2. Pricing Product: Pricing Considerations approaches and Pricing Strategies General pricing approaches: cost-based pricing. decentralization and centralization. competition influences. 6. major public relations tools. international pricing. why are marketing intermediaries used? Distribution channel functions. product attributes: branding. setting salespromotion objectives. sales promotion: rapid growth of sales promotion.

Khawaja Amjad Saeed Penguin Books.O. J. Prentice Hall International Inc. Jr. Dr. New York. New Delhi. 1164. A.P. Dr. G. 1164. Lahore.. Lahore. Prentice Hall International Inc. G. Khawaja Amjad Saeed Prof.O. Institute of Business Management.O. Strickland III Stephen P. India.P. SYLLABUS-2005 . Institute of Business Management. New York.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books CORE READINGS TITLE Strategic Management Management Principles of Marketing Strategic Management Organisational Management and Information Systems AUTHOR A. PUBLISHER Irwin McGraw Hill.P. Professional Business Publications. Lahore. Box No. Robins and Mary Coulter Philip Kotler and Gary Armstrong Fred R. DP Publications. David PBP ADDITIONAL READINGS HR. 1164.. Thompson. Management Manual (Managers Pocket Guide Series) HRM/HRD: Personnel Management Management: Text & Cases Marketing Cases _ Prof. Dr. G. Box No. Khawaja Amjad Saeed Prof. New York. Lahore. Box No. Institute of Business Management.

BUSINESS MATHEMATICS & STATISTICS i. Probability Distributions 11.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-203 . students should be able to:  describe and demonstrate the use of mathematical and statistical techniques. Matrix Algebra 7.  present the results of quantitative nature. Statistical Forecasting SECTION-C OPERATIONAL RESEARCH 13. forecasting in corporate planning and Financial Management. Decision-Making 12. WEIGHTAGE STAGE-2 ii. and INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION-A BUSINESS MATHEMATICS 1. Introduction: This course comprises basic concepts and techniques of mathematics & statistics. and  describe and demonstrate forecasting techniques. A thorough knowledge in the areas of basic mathematics and presentation of data. The management accountant should understand statistical concepts. CONTENTS SECTION-A SYLLABUS-2005 . in case of involvement of risk and uncertainty. iii.  describe and demonstrate the use of probability. Integral Calculus 6.  describe and apply financial mathematical techniques. because of the need to estimate the uncertainties of business decisions. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Linear Programming 15.  understand the proper use of formulae and ratios. Outcomes: On completion of this course. Optimisation: Application 5.  understand and apply techniques for summarising and analysing data. Preliminaries 2. Mathematical Functions 3. study time required for the topics in that section. Optimisation 50% 25% 25% TOTAL 100% Note: The weightage shown against each section indicates. Differentiation 4. This course also gives basic understanding of mathematical techniques applied for. Mathematics of Finance SECTION-B STATISTICS 9. Network Analysis 14. in a suitable form for taking business decisions.  describe reasonableness in the computation of answer. Objectives: To provide the students with the basic knowledge of mathematics and statistics to enable them to:  use and interpret mathematical and statistical methods. Probability Theory 10. Sequence And Series 8. is an essential skill for management accountant.

Gantt Charts Analysis of network. Average rate of change. Multiplication. 1st and 2nd Derivative Tests. Basic probability concepts. Polynomial. semi-average. Sequence and Series Concept of Sequence and Series. Normal and Binomial Distributions. Joint Probability. Linear Programming Optimisation by linear programming using graphical and simplex methods. Statistical dependence and independence. 6. Probability Theory Introduction to sets and set operation. Linear. Restricted Domain and Range. Decision-Making Sampling Methods (Probability and NonProbability Sampling). Applications of the Linear Functions. Test of hypothesis (t & z test) for single population mean. Net Present Value. additional applications 5. Sampling Distribution of Mean). Index Number (Simple and Weighted). Chi-Squire Test. Rues of Probability (Additive and Multiplicative). Conditional Probability. Distance Formula. 10. Break-Even Models (Analysis) 3. probabilities network. Coefficient of Determination. Mortgages. Estimation (Confident Innerves) for single population mean. selected applications 7. Cramer’s Rule. Rules of Integration.). Quadratic Equation and Nature of Roots. Mathematics of Finance Concepts of Interest rate. etc. Two Point Formula. Slope Intercept form. Application of Integral Calculus. Simple and Compound Interest. Rational. Preliminaries Factorization. Marginal Probability. Addition. Annuities and their present value. Concept of Annuities and Their Future Value. Domain Range Relationship. Sensitivity Analysis. Cost and profit applications. Present value. Instantaneous-rate of change. Graph Representation of the Functions. Cost-Benefit Analysis. Type of Functions (Constant. SECTION-B BUSINESS STATISTICS 9. singe-payment computations. Restricted-domain considerations revenue. activity-onarrow and activity-on mode diagrams. Concepts of derivative and differentiation. 12. Value of the Functions. 14. Optimisation: Application Derivatives. Linear regression model. Concept of Sample Size. Bivariate and Multivariate Functions. Maxima and Minima. Network Analysis Critical Path Analysis (CPM). Integral Calculus Concepts of Anti-derivatives. Partial Derivatives and Mixed Partial Derivatives 4. Combinations. Arithmetic and Geometric Means etc. Absolute Value Relationships. crashing program evaluation and network analysis. Equations. Definite and indefinite integrals. Method of Elimination. The Determinant and its Properties. permutations and combinations. Nominal and Effective Interest Rates. Rectangular Coordinate System 2. Mathematical Functions Functions. Matrix Algebra Concept of Matrices. Statistical Dispersions. Solution of linear equation with the help of Matrices (up to three variables). Least square methods. Measures of Central Tendency. Curve Sketching. Optimisation Linear and non-Linear Optimisation. Basic Rules of Differentiation. Probability Distribution Probability Distributions. Statistical Forecasting Linear Correlation Coefficient. SECTION-C OPERATIONAL RESEARCH 13. Inequalities. Subtraction. Arithmetic And Geometric Progression and its business applications. Composite. 15. Univariate. Integration. SYLLABUS-2005 .INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN BUSINESS MATHEMATICS 1. Differentiation The Limit and Introduction. moving average. Mid-Points. Gaussian Elimination Method. Inverse of Matrices. 8. Discounted Cash Flow. 11.

Budnick PBP ADDITIONAL READING Mirza Muhammad Farooq Kitab Ghar. Ali Mirza SYLLABUS-2005 . 142-144 Uxbridge Road Shepherds Bush. Publications Ltd. New York. Professional Business Publications. Business Mathematics Business Mathematics Ronald E. Hassan & Muhammad Karachi. NJ08520. London W12 8AW. S-1 Hightslown. Lucy PUBLISHER DP... Aldine place. Walpole Frank S. Princeton Road. Macmillan Publishing Co. Introduction to Statistics Applied Mathematics for Business. Green. Economics & the Social Sciences. New York. Inc. McGraw-Hill Company Inc. 32-33 Urdu Bazar. Lahore.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books CORE READINGS TITLE Quantitative Techniques AUTHOR T.

 understand the difference between application software and system software.Spread-sheet package.Software . Practical (30 hours) . ii.Introduction . .Microsoft PowerPoint . iii.  describe different communication protocols.Presentation package.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN STAGE-2 S-204 .  describe the low-level and high-level languages. INDICATIVE GRID SYLLABUS CONTENT AREA . . irrespective of their work primary domain and role. study time required for the topics in that section.Internet .  describe the role of utility programme.  describe some of the major components of a computer system and explain their relationships to one other. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.Internet and E-mail.Microsoft Windows .INTRODUCTION TO INFORMATION TECHNOLOGY i. The students will be provided with practical and theoretical coaching facilities to gain knowledge within the framework of the course.  describe some security issues involved with computer network usage. benefits and its applications. SYLLABUS-2005 . Objective: To provide the essential IT knowledge related to business systems.  explain the different functions and differences of operating system. WEIGHTAGE 50% 50% TOTAL 100% Note: The weightage shown against each section indicates.  describe the local area network. Theory (30 hours)  explain computer system’s CPU and memory. On completion of this course student will be able to have knowledge of following theoretical and practical topics: (a) Theoretical Knowledge  explain the basic knowledge of IT.Microsoft Excel . wide area network and other types of network.  explain the characteristics of computers and its classification.Hardware . Introduction: This course is designed to focus on the theoretical and practical aspects of computer skill.Microsoft Word .Word processor package.  describe multimedia. Outcomes: This course will cover both theoretical and practical aspects of IT knowledge. .  explain several types of input and output devices and their functions. (b) Practical Training  Ability to use .Accounting Package 1.Networks 2.

Types of RAM (SRAM and DRAM). Using bookmark and the history list. Firewall and unauthorised access). Sending e-mails. TCP/IP and WAP). Insert Slide. Electronic Pens. Inserting chart. multi-processing. formats. text boxes. Security issues (Computer viruses. Classification of computers. pie charts. Copy Files. Mouse. Arithmetic logical unit. Microsoft PowerPoint (04 hours) Create Slide. routers. Security issues (Viruses. presentation and other integrated package documents. Surfing the web. Insert Pictures. insert. aligning. and modem). Module: Software (08 hours) Definition of software. Add Animation. Data format conversion problems charts: Bar charts.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN CONTENTS 1. picture word processor and spread-sheet. Absolute. Data-bases. Biometric devices. Linking worksheets. Digital signatures. Printers (impact and Non-impact). slide master. Internet Addresses. borders. Apply a design template. Slide Transitions. Magnetic Tape Systems. back-up utilities and disk. generation of languages. receiving e-mails. filtering. Paragraph/page/character formats. Cache Memory. Drawing toolbox: Shapes. Insert and resize a digital image or clip art (online. Touch-pad. Search files. Cell formatting. lines. size of columns. Mail merge using data from spreadsheets and/or tables. Multimedia Applications. databases. Microsoft Word (04 hours) Editing. conversion Tools: Sorting. table of contents. Formulae. Scanners. insert. bordering. diagnostic programmes. distributing. Kinds of outputs (Softcopy and Hardcopy). Suitability. conditional formatting. Digital Cameras. Moving Files. What Is Multimedia. captions. Voice Recognition. WAN. Create folder. formatting. multi-threading. formatting. table of figures and index. Storage and Multimedia Magnetic Disk Systems. Using video clips and audio files. Run Slide Show. Dot pitch and Refresh rate). Touch-Screens. VAN. text-files. Definition of operating system. Networks. Ports (Serial. functions of operating systems. computer output microfilm and microfiche. standard templates. Data types. Track-ball. Slide animation commands. Floppy Disks. Topologies. Registers. Communication Protocols (Ethernet. view. E-mail. Manipulating windows. DVDs). Formatting Slides. THEORY Module: Introduction (02 hours) Fundamental characteristics of computers. different type of operating systems. Edit Slide. Advantages and Disadvantages of using Multimedia. Hard Disks. Online Storage. format menu commands: Print/page set up. Deleting Files. Create 3D shapes. Interpreter. presentation package. Create Charts / tables. cell labelling. Blue tooth. Smart Cards. Optical Discs (CDs. reports. Add Sounds. Plotters. rows. PRACTICAL Microsoft Windows (02 hours) The start menu. format.defragmentation). Letters. Intranet. 2. MAN and VPN). table. Add narration. Token Ring. Computer Security. paste special Import/export of data from/to word processors. Module: Hardware (10 hours) Central Processing Unit (CPU) & Memory Control unit. Searching the web. Video display adopters. Complier. Slide Colour Scheme. Components of a computer system. pivot table. Classification of software (Application software and System software). registers. Internet (02 hours) Accessing Internet. Network Devices (Switch. Enter text in your slides. alignment. time-sharing. copying formulae. Utility programmes (compression software. Microsoft Excel (10 hours) File. Transmission Mode. Draw and colouring shapes. Display Devices (CRT and Flat Panel). number. OSI models. edit. from PowerPoint). Flash Memory Devices. user-defined templates. Transmission Direction. relative addressing. Programming languages (Low-level languages and high-level languages). Extranet. view and file menu commands in word-processor. flipping objects. Internet. Screen clarity (Resolution. virtual memory and spooling). print formatting. Linking and embedding spread-sheet. page layout. unauthorised access and firewall). grouping. Parallel and USB) Input and Output Keyboards. Procedural and nonprocedural languages. managing e-mails. SYLLABUS-2005 . Use of different types of functions. Types of networks (LAN. Digitiser. Processing techniques for increasing efficiency (multi-tasking. Transmission Mediums. How to block spamming (Unwanted e-mails). Connectivity issues. Draw lines. customised your desktop. Memory (RAM and ROM). custom header/footer. Module: Network & Security Issues (10 hours) Definition of network.

3701 Algonquin Road. Inc. retrieve and manage the books Recommended Books TITLE electronically and design reports as per managements’ requirements. Illinois. CORE READINGS Pradeep K.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Accounting Packages (08 hours) Under accounting package.L Capron Dr.. Suite 1010. By the end of the course. The students will learn how to post. Rajesh Trehan Gini Courter Annette Marquis AUTHOR Professional Business Publication Lahore Prentice Hall International Inc. Rolling Meadows. while taking decision based on financial reporting.Sinha Priti Sinha H. a Peachtree Accounting Software will be practically taught. Cyber tech (CCT) Sybex PUBLISHER Computer Fundamentals (Concepts. The accounting package through coverage of Peachtree software gives a thorough introduction to the concepts of computerised accounting. SYLLABUS-2005 . It gives a comprehensive coverage to the software with hands-on training. 60008 USA. 8Edition A Complete book on Information Technology MS Office 2000 ADDITIONAL READINGS AUTHOR Sybex PUBLISHER Network Security (Second Edition) CISA Manual TITLE Chris Brenton Camreon Hunt CISA Information Systems Audit and Control Associations. students will be comfortable with the package and can meet various job requirements of the professional managers. Systems & Applications) Computer.

according to local laws and International Accounting Standards as applicable in Pakistan. 8. SYLLABUS-2005 . branches and departmental types of businesses.FINANCIAL ACCOUNTING i.  appraise debtors and creditors policies and methods of inventory management STAGE-3 SYLLABUS CONTENT AREA WEIGHTAGE SECTION-A 1. consignments.  prepare cash management models. to highlight the current financial position of the companies. Branch & Departmental Accounting SECTION-B 5. Financial Statements (Balance Sheet & Income Statement) of a single company in accordance with 4th & 5th schedule of Companies Ordinance 1984. Branches / Departments. ] ii. Accounting Standards (IAS – 1) 40% 11. Preparation of Company Financial Statements in accordance with International 10. 16) TOTAL 100 Note: The weightage shown against each section indicates.  understand the procedures to be followed in formation of companies.  prepare and present financial statements of companies.  prepare a statement of changes in Equity. identify and choose the most appropriate model. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.  identify and explain reasons for profit appropriation. consignment. partnership. while making a regulatory framework for published accounts.  prepare financial statements of companies as per requirements of the companies ordinance 1984 and IASs as applicable in Pakistan. according to local laws and International Accounting Standards. royalties. Company Formation & Retained Earnings 9. Accounting treatment of Royalties 4.  prepare financial statements from incomplete records. Outcomes: On completion of this course. Objectives: To provide the students with a knowledge of accounting enabling them to:  prepare financial statements for different types of business such as joint venture. iii. 10. Accounting for Consignments 30% 3. Preparation of Financial Statements from Incomplete Records 30% 7. Financial Statements of Non-Profit making organizations SECTION-C 8.  identify and explain reasons why any loss/gain is debited or credited to retained earnings. students should be able to:  prepare accounts and financial statements of joint venture.  compute working capital ratios for business sectors. study time required for the topics in that section. Accounting for Joint Venture 2.  describe the role of the International Accounting Standards. INDICATIVE GRID:  prepare receipts and payments accounts and financial statements of non-profit organisations. with appropriate notes.  explain potential matters that should be considered.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-301 . Computation of basic financial ratios (analysis not required) 13. Partnership. Accounting for Partnership concerns 6. incurred during the course of formation of a company. and  compute and interpret working capital ratios and analyse various items of current assets and liabilities. Introduction: This course covers specialised accounting as well as preparation of financial statements. 12. Application of IFRs / IASs (IAS 1. Royalties.  identify and explain accounting treatment of expenses. Non-profit organisations and Sole-proprietorship.

retained earnings appropriation to dividends and reserves. Memorandum recording methods. profit and loss. Accounting for Joint Venture Accounting treatment when separate books of accounts are maintained. Accounting Treatment of Royalties Preparation of journal entries and accounts. Financial Statements of Non-Profit Making Organizations Preparation of receipt & payment summary. Accounting for Partnership Concerns Formation of partnership. types of shares and share capital. statement of changes in owners’ equity and notes to the accounts. concept of partly and fully paid shares. forms and contents of the Financial Statements as per IAS-1. SECTION-C 8. dissolution of firm. bond shares (stock dividend). concept and types of dividends and reserves. distribution of profits among partners. preparation of combined statements for head office and branches. minimum rent account. preparation of income and expenditure account and balance sheet. 6. Application of IFRs / IASs IAS 1. admission of a partner. balance sheet. conversion of partnership into a company. Financial Statements (Balance Sheet & Income Statement) of a single company in accordance with 4th & 5th schedule of Companies Ordinance 1984. Accounting for Consignments Nature and operation of the consignment. Preparation of Company Financial Statements in accordance with International Accounting Standards ( IAS – 1 ) Requirements of relevant. 16. Accounting treatment of sub-leases. reserves and reserve funds. sources of retained earnings. 10. and when separate books are not maintained. Computation of Basic Financial Ratios (analysis not required) 12. reciprocal accounts and inter-branch transactions. departmental accounting. 4. SECTION-B 5. share splits. 7. working paper for combined statements. purchase of own shares (treasury stock). 3. retirement and death of a partner. 10. 2. concept and nature of shares and share capital. Branch & Departmental Accounting Operation of a branch. shortage account. accounting systems for branches (including dependent and independent branches) and head office. changes in partners’ ratios.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN CONTENTS SECTION-A 1. 11. Preparation of Financial Statements from Incomplete Records Preparation of income statement and balance sheet from incomplete record. 9. recording of issue of shares against cash and for consideration other than cash. Requirement of 4th & 5th schedule of Companies Ordinance 1984. SYLLABUS-2005 . 8. right issue of shares. accounting for dividends. Company Formation & Retained Earnings Formation of public and private Companies as per Companies Ordinance 1984. and royalty suspense account. IFRSs / IASs. accounting for the completed and incomplete consignments including losses (normal and abnormal both) and stock valuations.

Vikas Publishing House.. 30 Cannon Street London EC4M 6XH.Maheshwari/S. England.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books TITLE CORE READINGS Frank Wood/Alan Sangster International Accounting Standards Board AUTHOR Pearson Education Ltd. United Kingdom. (Pvt) Ltd. Sultan Chand & Sons. McGraw-Hill Publishing Company Inc. 576. New Delhi. Publishers 23. PUBLISHER Frank Wood’s Business Accounting International Financial Standards (IFRSs/IASs) Reporting Financial Accounting and Tax Principles An Introduction to Accountancy PBP S. Lahore. Standards Board. International Accounting..N. Daryaganj. Gupta ADDITIONAL READING Advanced Accountancy Accounting: The Basis for Business Decisions Robert F. Masjid Road. New Delhi. Jangpura. Meigs SYLLABUS-2005 . Meigs / Walter B. Professional Business Publications.K Maheshwari R. L. New York.

1 The Income Tax Ordinance 2001. oil & gas and other mineral deposits). business. and indirect taxes INDICATIVE GRID    SYLLABUS CONTENT AREA SECTION-A 1. 2005 2. assets). relating to business. tax year. Introduction: This course covers Income Tax Ordinance. companies). registered and unregistered firms and companies. SYLLABUS-2005 . pertaining to tax liabilities of company or firm. trading profit and capital gains. INCOME TAX LAW 1.BUSINESS TAXATION i. as amended up-to-date Definitions. anti-avoidance. other sources.3 Federal Excise Act and Rules. 2001. arising from income generation and capital gains. WEIGHTAGE 50% 20% 30% STAGE -3 ii.     such as sales tax. Customs Act. international (geographical source of income. charge to tax. capital gains. 2005. 2002 and other Tax Laws such as the Sales Tax Act. Outcomes: On completion of this course. losses. exemptions. Income Tax Law 1. study time required for the topics in that section. enabling them to apply in decision-making process in different business situations. tax credits). as amended to date. compute and advise on tax liabilities of individuals. 1969 2. such as direct taxes on individuals. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. common rules (general. differentiate between tax avoidance and tax evasion. 1990. recommend on minimising or deferring tax liabilities for individuals or company. business or professions and other sources. as amended up-to-date SECTION-B 1.4 Capital Value Tax Note: The weightage shown against each section indicates. business individuals. iii. and identify foreign tax obligations. special industries (insurance. taxation of foreign source of income of residents.2 Income Tax Rules 2002 SECTION-C 2. taxation of nonresidents. double taxation). AOP. deductible allowances.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-302 . describe record-keeping. individuals. describe features of the direct and indirect taxes. students should be able to:  identify and interpret principal types of taxation. property. tax on taxable income (computation of income from salary. by using exemptions. capital gains. filing and tax payment requirements of principal types of taxation.1 Sales Tax Act 1990 2. the Income Tax Rules. income.1 Income Tax Ordinance 2001. 1969 and Federal Excise Act.2 Customs Act. CONTENTS SECTION-A TOTAL 100% 1. Association of persons. customs duty and central excise duty. Objectives: To provide the students with an in-depth knowledge of Tax Laws. situations and apply appropriate methods for relieving from such tax. arising from income receipts. Other Tax Laws: 2. provisions governing persons (concept. compute for recommendations to the management on issues.

2002 Definitions related to the rules. XVII and XIX of Customs Act. Lahore Law Publications. warehousing. A. bad debts. SECTION-B Recommended Books SECTION-C 1. Ikramul Haq CORE READINGS PUBLISHER S.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN minimum tax. records and books of accounts. 21-Urdu Bazar. as amended up-to-date covering. returns. registration of income tax practitioners. penalty. Lahore. Nature and areas of tax management. 2005. and recognised terminal benefits funds. refunds. Rules 7 to 10. Lahore. V VII. profit on debt. 2002 Sales Tax. definitions. TITLE Complete Income Tax Law (Latest Edition) AUTHOR Sheikh Asif Salam Huzaima Bukhari & Dr. Iqbal Brothers. drawbacks. advance tax collection or deduction. VI. I. payment. 1990 Central Excise Act 1944 and Rules Customs Act. Salam Publications. procedures (returns. income of residents. statements of tax collected or deducted. collection and recovery of tax. transfer pricing. financial costs and lease payment. 2001 & Income Tax Rules. levy of exemption from and repayment of customs duties. seventh schedule). appeals and revisions. IV. offences and penalties. Sections 2 to 19. Federal Excise Rules. registration. administration (general. tax of nonresidents. 2 . intangibles. heads of income. appeals.2 Income Tax Rules. 2. offence and prosecutions. employees training and facilities. Tariq Najeeb Corporation. exemptions deductions and tax credits. issued under the abovementioned laws.2 Customs Act. Notifications.1 The Sales Tax Act 1990 Chapter No. as amended up-to-date covering. OTHER TAX LAWS: 2. initial allowance. deduction of tax at source. precommencement expenses. filing of returns of income. advance payment of tax.3 Federal Excise Act And Rules. importance of tax management. clearance of goods for home consumption. 2005. 2. payments and deductions. while claiming allowance. second schedule. Special provisions regarding depreciation. Schedules (first schedule. scientific research expenditures. third schedule. Introduction to Income Tax Ordinance. Tariq Najeeb Corporation. Lahore. Khawaja Amjad Saeed Mirza Munawar Hussain SYLLABUS-2005 . & 33 to 39. Dr. 2. 2005 Federal Excise Act. Lahore. rules general orders and circulars. VIII and IX of the Act. II. XI. 31. Azim Academy. appeals and recovery of arrears. minimum tax. additional tax). 1969 Income Tax Law plus Practical Problems with Solution Synopsis of Taxes in Pakistan Tariq Najeeb Choudhry Tariq Najeeb Choudhry __ Prof. defaults and penalties. transfer to participating reserve and tax accounting. profit on nonperforming debts.4 Capital Value Tax Section 7 of the Finance Act 1989 as amended up-to-date. 15 to 17. transitional advance tax provisions. scope and payment of tax. 1969 Chapter V. & 32 to 34. Government of Pakistan. miscellaneous). provisioning regarding consumer loans. book-keeping and invoicing requirements. X. records and audit. Income tax recovery rules. III. assessments. certificates. sixth schedule. Lahore. offences and penalties.

Activity Based Costing 3. Variance Analysis and Profit Reconciliation 8. which need frequent performance measurement for control purposes.  compute and interpret material.  describe the criterion for selecting a cost driver. batch or process systems including all related accounts.  describe the components of master budget.  prepare reports showing direct materials quantity and price variances and direct labour efficiency and rate variances.  calculate overhead budget. students should be able to:  distinguish between the meaning of a joint product and a by-product. Effect of JIT 5. labour. Interpretation of variances WEIGHTAGE 30% 30% SYLLABUS-2005 . Process Costing 4.  describe the causes for changes in gross profit.  describe the need for uniform cost accounting.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-303 .  explain the inter-relationship between the components of an operating budget and a financial budget.  design and install costing system and cost reports of a manufacturing company. overhead and sales variances. Objectives: To provide the students with a detailed knowledge of Cost and Management Accounting.  compute sales volume variance. Outcomes: On completion of this course.  describe the appropriateness of two acceptable methods of accounting for byproduct in the determination of the cost of the joint products.  explain how standards are set or revised in manufacturing or service industries. and  prepare ledger accounts according to context: direct or absorption-based in job. efficiency and volume variances. when preparing a flexible budget.  explain why a company prepares master budget. cost volume variance and sales mix variances. batch and process cost systems. This course is confined to such cost techniques that enable the management accountant. This enables the management to identify any deviation from the planned activities. STAGE-3 ii.  apply direct and absorption costing approaches in job.  describe two acceptable methods of allocating cost to joint products and the cost of initial producing department. to identify the said deviations and report to the management for taking remedial action. spending.  explain the role of computerised financial planning models in the budgeting process. and evaluate the desired results in the light of the outcomes. Setting Standard Cost 7. Marginal and Absorption Costing 2. Uniform Costing SECTION – B STANDARD COSTING AND VARIANCE ANALYSIS 6. INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION – A COST ACCOUNTING SYSTEMS AND TECHNIQUES 1.COST AND MANAGEMENT ACCOUNTING – PERFORMANCE APPRAISAL i. Introduction: There are certain cost. revenue and profit centres.  explain how flexible budget is used to control manufacturing and nonmanufacturing activities. to enable them to:  use the present and traditional approaches of cost accounting in different contexts.  explain how the JIT philosophy has changed manufacturing environment. iii. and  apply the cost and management accounting techniques.

10. Administration and stages in the budgeting process. Rolling budget. Behavioural implications of budgeting and budgetary control. Theory of constraints and throughput accounting. SECTION . Accounting disposition of variances. 4. Planning and operational variances. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. 3. Setting Standard Cost Establishing cost standards. Projected income statement and balance sheet. Activity based budgeting approach. 5. Transfer Pricing 30% 10% TOTAL 100% Note: The weightage shown against each section indicates. Interpretation of Variances Interpretation of variances. Designing ABC system. Budget variances and their causes. Addition of units. 7. 8. Flexible and Fixed Budgets. Reconcile standard profit and actual profit using absorption and marginal costing systems. Effect of JIT Production The benefits of just in time production. CONTENTS SECTION-A COST ACCOUNTING SYSTEMS AND TECHNIQUES 1. Normal. Accounting for spoilage.D PERFORMANCE MEASUREMENT AND TRANSFER PRICING SYLLABUS-2005 . Recording standard costs in the accounts. Zero Based Budgeting and Activity Based Budgets Incremental approaches of budgeting. Total quality management. 11.merits and pitfalls. Uniform Costing SECTION – B STANDARD COSTING AND VARIANCE ANALYSIS 6. Accounting entries for a JIT manufacturing system (Back flush). Direct material standards. study time required for the topics in that section. interrelationship. abnormal losses and abnormal gain. Basic cost standards. Profit reconciliation. Marginal and Absorption Costing Marginal costing and absorption costing. Budgetary Control SECTION-D PERFORMANCE MEASUREMENT AND TRANSFER PRICING 12. 2. Criticism of standard costing.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN SECTION . Pitfalls in using ABC information. Preparation of Budget 10. Zero Based Budgeting and Activity Based Budgets 11. Overhead standards. Mix and yield variances.C BUDGETING AND BUDGETARY CONTROL 9. direct labour standards. Budgetary Control Feedback and feed-forward controls. Cash budget. Process Costing Adjustment of WIP at start: FIFO and average method. rework and scrap. Effect of both systems on profit and inventory valuation. ideal standards and currently attainable standards. Preparation of Budget Theory of budgeting.C BUDGETING AND BUDGETARY CONTROL 9. The budgeting process in nonprofit organisations. Divisional Performance Measurement 13. Purposes of standard costing. Comparison of traditional and ABC systems. Throughput accounting (TA) ratio. Responsibility centres and budgeting. Adjustment of scrap value of lost units. ABC in service organisations. Activity Based Costing Emergence of ABC systems. Variance Analysis and Profit Reconciliation Computation of cost and sales variances. SECTION . significance. Idle time variances. Functional Budgets. Zero based budgeting. Joint and by-products.

U. Residual income. Recommended Books CORE READINGS TITLE Managerial Accounting Management and Cost Accounting Management Accounting Performance Evaluation Cost & Managerial Accounting AUTHOR Ray H. profit centre and investment centre. Market prices. Capacity constrained. Divisional performance reporting. 50-51 Bedford Row. Standard cost plus mark-up. Divisional Performance Measurement Cost centre. London Professional Business Publications.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN 12. Goal congruence. New York. Garrison & Eric W. New Delhi 110001. Methods of measuring divisional performance. Negotiated prices. Horngren / George Foster & Srikant M. Pricing at cost.A. NJ08520. Dual pricing. Usry Prentice Hall of India (Pvt) Ltd. Datar Adolph Matz / Milton F.... High Holborn Ouse. ADDITIONAL READING Cost Accounting A Managerial Emphasis Cost Accounting Charles T. S-1 Hightslown. McGraw-Hill Company Inc. Noreen Colin Drury PBP Jack Gray & Don Ricketts PUBLISHER South Western Publishing Co. 13. Transfer Pricing Transfer pricing methods. SYLLABUS-2005 . Ohio. Cincinnati.S. revenue centre. Lahore. Princeton Road. USA Thomson Learning. India. South Western Publishing Co. Return on capital employed.

 identify the steps in the communication process.PRESENTATION AND COMMUNICATION SKILLS i. SYLLABUS-2005 .  identify some of the common sources of misunderstanding that occur in written and oral intercultural communication. process of preparing effective business messages. CONTENTS SECTION – A 1. while developing and refining their own abilities. Outcomes: On completion of this course.  describe the communication role of electronic mail and Internet technologies in designing business messages. They are expected to develop and improve their verbal and non-verbal communication capabilities. Presentation Skills SYLLABUS CONTENT AREA WEIGHTAGE 20% 50% 30% TOTAL 100% Note: The weightage shown against each section indicates.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-304 . process. planning steps.  learn and understand the concepts methodologies. Business Letters 3. Business Communication Effective communication in business. students should be able to:  apply the concepts to real business scenario and sharpen their business communication and problem-solving skills.  explain the importance of speaking and listening effectively.  describe the various steps involved in the process of report writing. and techniques for an effective presentation. forms. concepts. channels and importance. characteristics. study time required for the topics in that section. Business Communication SECTION – B 2. memos and other brief messages.  describe the steps involved in presentation skills. Objectives: To provide the students with theoretical and practical knowledge of verbal and non-verbal presentation and communication skills. different kinds of communication. process and importance of communication in business. basic organisational plans. its definition. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Business Reports SECTION – C 4. INDICATIVE GRID SECTION – A 1.  identify and demonstrate the methods and procedures for writing letters. when communicating face-to-face with people from other cultures.  describe the characteristics. Introduction: This course is designed to give more emphasis on improving and developing the presentation and communication skills of the students.  describe the role of effective communication in business. verbal and non-verbal communication. its features.  describe communication barriers and how to overcome them. enabling them to:  learn and understand theoretical and practical approaches of managerial communication. beginnings and endings. iii.  Compose their CV’s  Perform well in the interviews  Play significant role in meetings STAGE-3 ii. elements.

London WC2E 9AN McGraw-Hill Company Inc. orders. the steps in planning a presentation. effective communication principles. New York. intercultural communication. Gartside ADDITIONAL READINGS Shirley Taylor Herta A. presentation of the formal reports. listening skills. 3. Princeton Road. delivering a short formal presentation on an assigned topic. NJ08520. communication within and outside the organization. request. gestures. ii-Presentation Skills. interviews. Interviewing skills. iii-Functional English SYLLABUS-2005 . presentations and follow-up or feedback. Recommended books TITLE Excellence in Business Communication Model Business Letters Communication for Business (A Practical Approach) Effective Business Communication AUTHOR Join V Thill Courtland L Bove’s L. interpersonal communication. 7C’s of communication. documentation. favourable replies. suggestions for short reports. Hildebranot & Jane P. Upper Saddle River. informational and analytical letter reports. achievements. ethical communication. writing styles. market research. communication barriers. Karachi i-Business Communication and Report Writing. formal reports. resume and job application letter. K. writing a note/ memo/circulars. a body and a close for a formal presentation. manners.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN composition of the message. They should be taught to make effective and accurate use of audio and visual aids. sales letters. Business Letters Types of business letters. designing and using appropriate visual aids. organising and conducting meetings. handling audience questions effectively. SECTION – C SECTION – B 2. meetings. requests regarding routine business or public causes. Al-Hamd Academy. organisation and outline of report body. unsolicited favourable messages. They should be encouraged to take part in group discussions. business or formal letters. categories presentations according to their purpose. analytical memorandum reports with graphs. legal aspects of communication. styles of communication. the role of technology in communication. prefatory parts. visual aids. some do’s and don’ts of verbal and non-verbal communication. Murphy / Herbert W. They should learn the use of non verbal cues in an effective way. S-I Hightslown. Business Report Meaning and classification of business reports. reservations. some common symptoms of stage fright and measures to overcome it. evaluating. selecting. informal (friendly) letters. Siddiqi CORE READINGS PUBLISHER Prentice-Hall International Inc. analysis of the audience before making a presentation. open communication climate. Note: The class room activities should be designed to give students the maximum chance to get proficiency in communication and presentation skills. documentation and other notes. Thomas Mr. evaluating the appropriateness of the setting and venue of presentation. holding meetings and other class room presentations. reports. M. mock interviews. main parts of the report. developing an introduction. Presentation Skills Common myths about presentational ability. preparing proposals/feasibilities. direct request inquiries claims and requests for adjustments. informational memorandum 4. invitations. New Jersey Financial Times Prentice Hall Pearson Professional Education Pitman Publishing 128 Long Acre. making preliminary career decisions. difference between speech and presentation. supplementary parts. structure of the organization. short reports. business group discussions. preparation before writing reports. working plans.

Accounting treatment of Financial Instruments (Basic understanding of relevant IFRs / IASs) 11.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-401 . Accounting for Taxation IAS – 12 (for a single company) 8. preparation of company accounts and consolidated financial statements as per IAS-27.  discuss the treatment of taxation as per IAS12. Outcomes: On completion of this course. The measurement of Income & Capital (IAS – 18. absorption. Corporate Financial Analysis (including IAS 33) 4. iii. Group / Consolidated Financial Statements (Balance Sheet & Income Statement) in accordance with relevant IFRs / IASs. banks and financial institutions. Objectives: To provide the students with a thorough knowledge of advanced aspects of financial accounting to enable them to:  select and apply appropriate accounting techniques and procedures to specific circumstances. Final Statement of Liquidator SECTION . analyse. Cash Flow Statement of a Single Company (consolidated cash flow statement is not required) 3.  explain and demonstrate the accounting treatment of investments and long-term liabilities.B 6. [simple groups including subsidiaries & associates 2. students should be able to:  prepare accounts and financial statements in connection with amalgamation. Absorption and Reconstruction 5. Accounting for Leases ( IAS – 17 ) 7.A 1. interpret financial statements of entities under specific situations. reconstruction. CONTENTS SECTION-A Definition of holding. This will help management take appropriate decision on the basis of financial comments and recommendations of management accountant. and  prepare. evaluation and interpretation of financial analysis under different business situations. Banks & Financial Institutions 10.  preparation of accounts and financial statements of construction companies. [simple groups including subsidiaries & associates] 2. study time required for the topics in that section.ADVANCED FINANCIAL ACCOUNTING AND ANALYSIS i.  evaluate financial statements of an entity and provide analysis and comments on its performance. Accounting of Insurance Company. 1. Accounting for Construction Contracts ( IAS – 11 ) 9. 29 ) 12. INDICATIVE GRID: SECTION . liquidation. Amalgamation. subsidiary and associated undertaking. and  discuss various issues of business ethics. Cash Flow Statement of a Single Company (consolidated cash flow statement is not required) SYLLABUS-2005 . Ethical requirements from an Accountant TOTAL SYLLABUS CONTENT AREA 50% 50% 100% Note: The weightage shown against each section indicates. Introduction: This course is designed to concentrate on preparation of financial statements. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Group / Consolidated Financial Statements (Balance Sheet & Income Statement) in accordance with relevant IFRs / IASs. WEIGHTAGE STAGE-4 ii.

3. Accounting for Taxation IAS – 12 (for a single company) 11. Lahore. redeemable capital Term Finance Certificates (TFCs). amalgamation by absorption. Accounting for Construction Contracts (IAS– 11) Preparation of contract account (profit and loss account and balance sheet) as per IAS-11. entries related to corporate tax in accounting records as per IAS-12. New Delhi. ethics and the law. liquidator’s final statement of account. & IFRS 7) 6. New Delhi. L.D. obligation. Inc. Karrenbrock Kalyani Publishing. difference between operating and financial leases. 4. Board. analysis of financial statements and comments on the performance and position of an entity as per IAS –33. Y. Corporate Financial Analysis (including IAS 33) Ratio analysis techniques. independence. McGraw-Hill Company Inc. common size analysis and reporting the result.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Preparation of the cash flow statement. Maheshwari / S. in accordance with IAS 7. debentures. limitations of ratio analysis. 9. 23. 7. the profession and society at large.N. amalgamation by forming a holding company. Absorption. concepts of integrity.. Accounting Treatment of Financial Instruments (Basic understanding of relevant IFRs / IASs) Short-term and long-term investments. consequences of unethical behaviour to the individual. K. EC4M 6XH United Kingdom. Professional Business Publications. Amalgamation. Accounting for Leases (IAS– 17) Definition of leases and their importance. CORE READINGS Intermediate Accounting Donald E. ethics in business. of Pakistan. Royal Book Co. reconstruction of companies. Jangpura. Kieso / Jerry J. definition. 30 Cannon Street. Banks & Financial Institutions Legal provisions and prudential regulations. New Delhi. public expectations. Accounting of Insurance Company.P. Liquidation and Reconstruction Amalgamation by forming a new company. accounting for operating and finance leases. Narang Harry Simons / Wilbert E. John Larsen PBP S. (IAS 32. debentures conversion into shares. Sultan Chand & Sons Publishers. Pvt. England.L. preparation of accounts and financial statements of Insurance Companies. Karachi. reporting requirements of finance lease in terms of IAS 17 and relevant IFRS.. investments in shares. Ltd. Legal aspects of mergers and acquisitions. P. International Accounting Standards. Vikas Publishing House. Ethical Requirements from an Accountant The nature of ethics: difference between philosophical and professional approach. London. 10. ethics and the professional: social responsibility. Weygandt & Terry D. New York. convertible bonds and debentures. South Western. Maheshwari Govt. including relevant notes for an individual company. Warfield E. L. SYLLABUS-2005 . segment analysis. udhiana. 576. The Measurement of Income & Capital (IAS– 18. 5. 29) Recommended Books TITLE 12. banks and financial Institutions. principles of substance in measurement of income & capital in accordance with IAS – 1. Gupta AUTHOR John Willey & Sons. Publishing Company N. Publishers Lahore. International Accounting Standards Board R. PUBLISHER Modern Advanced Accounting Financial Analysis An Introduction to Accountancy Companies Ordinance 1984 International Financial Reporting Standards / IASs Advanced Accountancy Reading in Financial Analysis Advanced Accountancy Advanced Accounting ADDITIONAL READINGS Qaisar Mufti S. Treatment of current taxation and deferred taxation. Jain / K.. Masjid Road.. Final Statement of Liquidator Statement of affairs and deficiency or surplus account. bonds and funds. 39. Daryaganj. SECTION-B 8.

strategic objective. project implementation. Uniqueness of a project. determine resource-based views of the firm and implications for strategy development. recommend most suitable project control systems. analyse the relationship between managers and their subordinates. and recommend strategies for dealing with the uncertainty. Strategy Implementation. external and internal environment. SECTION-B Project Management Project vs Organization. Action Implementation. SYLLABUS-2005 . strategic planning vs general planning. Objectives: This course enables the students to learn:  the process of strategy formulation and implementation. performance test. content. and demonstrate personal time-management skills. Evaluation. CONTENTS SECTION-A Strategic Management Strategic Management. Action Plan. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. recognise the effects of uncertainty. project management and management of relationships. leadership and delegation. Winning Strategy. and ways to improving effectiveness of an organisation. organizational culture. project evaluation. company’s evaluation. authority. and find out the INDICATIVE GRID SYLLABUS CONTENT AREA SECTION-A Strategic Management SECTION-B Project Management SECTION-C The Management of Relationships WEIGHTAGE 40% 30% 30% TOTAL 100% Note: The weightage shown against each section indicates. project proposal. functions. Data Gathering. and for managing group conflict. evolution & definition. Data Analysis. and  managing internal and external business relationships. industrial analysis. students should be able to:  Explain process of strategy formulation and establish relationship between strategy and organisational structure. linking activities.INTEGRATED MANAGEMENT i. Direction Setting. Project Lifecycle.  key project management skills. iii. bureaucracy.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-402 . business ethics and social responsibilities. creating summary tasks. is designed to give the students new approaches of management sciences. allocation of resources. Group vs Team. study time required for the topics in that section. develop methodologies for managing individuals and teams. developing strategic vision. Strategic Planning. Team Building. setting objective and crafting Strategy. responsibility. Stages of Team Development. creating activities. finding the critical path. Process. project development. project identification. Introduction: This course comprising strategic management. strategy. produce a basic project plan. in order to face emerging global organisational and technological challenges. STAGE-4        ii. assigning test. Outcomes: On completion of this course. importance and role of organisational cultures. explain the concepts of power. and identify common management issues. goodness of fitness competitive edge Test. Microsoft Project 98: basic understanding of drawing network diagrams. determine and apply suitable structures and frameworks to projects.

McGraw-Hill. Edward Freeman and Daniel A. Holland Fred Luthans Greory Moorhead Ricky W.F. Organisational Behaviour Organisational Behaviour Integrated Management PMBOK (Project Management Body of Knowledge) 1998 edition Microsoft Project 98 (Software) Project Management Institute Microsoft ADDITIONAL READING Management James A. Internal Relations. SYLLABUS-2005 . Microsoft Inc. USA. A. Management Functions.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN resources to activities. Project Management Institute. changing the calendar and working hours and printing of network diagrams. Lahore. Gilbert. SECTION-C Management Relationship Definition of Management. Houghton Mifflin Company. New York. Rue Phyllis G. Organizational Culture. Levels of Management. Prentice-Hall of India. Jr. Teamwork. Management Roles. Power and Authority. Networking. Leadership. Irwin. Stoner.Griffin PBP PUBLISHER McGraw-Hill. Recommended Books CORE READINGS TITLE Strategic Management AUTHOR Leslie W. USA Professional Business Publications. New York. Managing External Environment. External Relations. Organizational Structure and Design. New Delhi. Organizational Politics. Going with Stakeholders.

STAGE-4 S-403 .  describe procedures relating to incorporation of companies and other matters incidental thereto. issue and transfer of shares. officers shareholding. Securities and Exchange Commission of Pakistan Regulations 2000 and secretarial practices.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN i. registered office.  describe miscellaneous provisions regarding investments.  explain various matters relating to the Securities and Exchange Commission of Pakistan Act 1997.  describe procedures and application of company (court) rules 1997. 1997.  describe provisions relating to allotment. trading and interests. Secretarial Practices TOTAL  describe procedures for registration of mortgage and charges.  discuss procedures for declaration of dividend. INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION-A Corporate Laws: 1.  describe procedure for books of accounts and financial reports. debentures and deposits etc.  describe general procedures relating to registration and alteration. students should be able to:  describe obligation to register certain associations and partnerships all as companies. The Securities and Exchange Commission of Pakistan Act.  discuss procedures for appointment of first and subsequent chief executive. private and single-member companies. Introduction: This course deals with the theoretical and practical approach to the Companies Ordinance 1984.  describe management. Objectives: To provide the students with a thorough knowledge of Corporate Laws and Secretarial Practices to enable them to:  advise and assist the management for taking appropriate and prompt decision.CORPORATE LAWS AND SECRETARIAL PRACTICES ii.  explain jurisdiction and procedures of the court.  explain the rules relating to non-banking finance companies.  describe procedure of holding statutory meeting and AGM of company and related matters. administration. the Securities and Exchange Commission of Pakistan Act 1997. iii. contracts. issuance of dividend warrants and payment of dividends.  describe procedures for winding up of companies.  describe the qualifications.  describe provision relating to conversion of public company into private company and vice versa and other matters. and  carry out secretarial work more effectively. The Companies Ordinance 1984 SECTION-B 2.  describe regulations regarding issuance of shares certificates and debentures.  differentiate between public. and  explain powers and functions of the commission. of articles and memorandum of association. publication of name of the company etc. and the Securities and Exchange Commission of Pakistan Regulations 2000 3.  explain procedures for conversion of limited company into unlimited company and vice versa.  describe provisions regarding issue of bonus and rights shares.  explain procedures and regulations regarding transfer of shares. Outcomes: On completion of this course. WEIGHTAGE 50% 15% 10% 25% 100% SYLLABUS-2005 . Non-Banking Finance Companies (Establishment & Regulation) Rules SECTION-C 4. functions and legal obligations of a company secretary.  discuss procedure for appointment and removal of directors. and the Securities and Exchange Commission of Pakistan Regulations 2000.  explain procedure for commencement of business by a public company.

brokerage. Secretarial Practice Bare Acts Manual of Corporate Governance D. Box No. directors. share certificates. register of shareholders. flotation of corporate securities. books of accounts and financial reports. G. listing with stock exchanges. dividend warrants. of Pakistan Publishers. issuance and redemption of debentures. Karachi SECP. Karachi74400. Wadud PUBLISHER Institute of Business Management. 1164. proxies. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. service of documents. Offer of shares. applications and allotment of shares. filing of returns with SECP and other agencies. annual general meeting. study time required for the topics in that section. SECTION-B 2. chief executive. Abdullah Haroon Road. Jain SECP ____ ADDITIONAL READING SYLLABUS-2005 . quorum of meetings.P. Ltd. audit and investigation. Box No. 3.O. officers of the company. Royal Book Company.O. discount and premium on shares. The Securities and Exchange Commission of Pakistan Act 1997 with latest amendments. resolutions. Recommended Books TITLE Company Law & Secretarial Practice in Pakistan Practical Approach to Companies Ordinance 1984 Company Secretarial Practice CORE READINGS AUTHOR Prof. Non-Banking Finance Companies (Establishment & Regulation) Rules 2003 (Introduction only) SECTION-C 4. Khawaja Amjad Saeed Nazir Ahmed Shaheen Q. 232. qualifications of secretary. prospectus. Secretarial Practices Incorporation of company. receiving of deposits by company. notice of meetings. The Securities and Exchange Commission of Pakistan Act 1997. Lahore. transfer and transmission of shares. appointment of secretary. registration of mortgages and charges. Rawalpindi. letters of regret. Central Depositary Company and its regulations (Stock Exchange Regulations and CDC Act-1997). Types of meetings. agenda of meetings. listing rules of stock exchanges. maintenance of statutory books. CONTENTS SECTION-A CORPORATE LAWS 1. Dr. minutes of the meetings. as amended up-to-date with the Securities and Exchange Rules 1971. P. Federal Law House. issuance of shares. Saddar Cooperative Market. memorandum and articles of association. P. Working procedure of Securities and Exchange Commission of Pakistan (SECP). secretary and auditors. Govt.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Note: The weightage shown against each section indicates. Committee Chowk. H/136 Muree Road. underwriting. A. Securities and Exchange Commission of Pakistan Regulations 2000. Islamabad. Konark Publishers Pvt. 7737. Secretarial organisation and management. declaration of dividend. functions and legal obligations of secretary. company and directors meetings. bonus and rights issue. voting. The Companies Ordinance 1984 The Companies Ordinance 1984 with latest amendments. Single-Member Companies Rules 2003. and the Securities and Exchange Commission of Pakistan Regulation 2000 The Securities and Exchange Ordinance 1969.

The students are expected to use knowledge and understanding of more advanced financial accounting. (SECP) and other government agencies. stock exchanges. International Accounting Standards and IFAC Guidelines. interpret and report on financial statements (including cash flow statements) and related information to different groups of users. MIS/IT. 2. Objectives: To provide the students with an in-depth knowledge of financial reporting enabling them to:  analyse and interpret financial statements and prepare financial reports. including international standards of accounting and auditing and comparative accounting systems and analysis in financial reporting. in accordance with the requirements of the Companies Ordinance 1984. Securities and Exchange Commission of Pakistan 3. analysing financial statements and developing reports thereon. marketing. and  submit recommendations to the management for taking decision. financial analysts). industrial and commercial laws. iii.  analyse. Internal users (directors. SYLLABUS-2005 . financial institutions. managers.  identify categories of users of financial reports and describe the importance of financial reporting. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.FINANCIAL REPORTING i. for management decisions. banks.  evaluate the uses of international regulatory framework. STAGE-5 ii. General Importance of financial reporting. employees and union). Introduction: This course is designed to focus on preparing. International Regulations (IAS and IFRS) The international regulatory framework including international standards of accounting and auditing. Categories of Users External users (investors. and  demonstrate the financial reporting skills in case studies. strategic financial management. CONTENTS SECTION-A 1. Case Studies & Practical Assignments WEIGHTAGE 50% 30% 20% TOTAL 100% Note: The weightage shown against each section indicates.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-501 . for preparing and interpreting financial statements in context of practice. comparative accounting systems and analysis. study time required for the topics in that section.  prepare group financial statements. Outcomes: On completion of this course. students should be able to: INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION-A 1 General 2 Categories of Users 3 International Regulations (IAS and IFRS) SECTION-B 4 Corporate Financial Reporting 5 Corporate Governance 6 Interpretation and Value Measurement SECTION –C 7. accounting.

39. 1984 Companies Ordinance 1984 and Article of Association Relevant Sections of Income Tax Ordinance. EC4A 2DY. in presenting solutions in structured and logical format. of Pakistan Govt. Interpretation and Value Measurement Advanced aspects of preparation and interpretation of accounts and related reports. SECTION-C 7. their judgment in prioritising issues and recommending practical solutions. 3. 4. of Pakistan Govt. candidates’ professional capabilities will be tested with reference to: their ability to identify key issues. including their proper use of English. New York. Case Studies & Practical Assignments Students will be expected to demonstrate. SECTION-B 4. Corporate Financial Reporting Preparation of Consolidated Financial Statements (complex group structure as well) including Consolidated Cash Flow Statement. 19. 12. 31. 5. S-1 Hightslown. The emphasis at this stage. IFRs: 1. 36. 5. Corporate Governance Various requirements under Code of Corporate Governance. Princeton Road.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN IASs: IAS 7. 28. 2001 Relevant Sections of Banking Companies Ordinance. 38. 1962 Prospectuses for Allotment of Shares & Securities of Companies Annual Reports of the listed companies Periodic Reports of Companies SYLLABUS-2005 . London. 23.. of Pakistan E. 20. 27. Govt. that they can integrate the knowledge and skill of their studies of the subjects of financial accounting and financial reporting and their practical training. calculation of stock market ratios and measurement of business valuation. 21. their communication skills. NJ08520. 7. John Larsen Disclosure Requirements and Revised) Fourth & Fifth Schedules of Companies Ordinance. 6. Mc-Graw-Hill Companies Inc. 41. 24. 40. 17. 166 Fleet Street. of Pakistan Govt. interpretation and meaningful use of data. 6. 2. 37. 14. Recommended Books TITLE International Financial Reporting Standards (IFRSs/IASs) Modern Advanced Accounting CORE READINGS AUTHOR ___ PUBLISHER International Accounting Standards Board. Each student will be required to prepare at least two annual reports of selected listed companies from given data. will be on the presentation. and submit the same to the concerned faculty member for evaluation. 34.

Outcomes: On completion of this course. Sensitivity Analysis SECTION . Pricing Decision 6. Cost Behaviour 2. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.D STRATEGIC ADVANTAGE THROUGH COSTING 10. undertake sensitivity analysis and evaluate the impact of risk in decision models using strategic management. key limiting factors.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-502 . Introduction: This course is designed to focus on the identification and application of management accounting techniques for decision-making in a specific area. and compile information by applying the capital budgeting techniques for use of management. sales mix. Limiting Factors 5. Capital Investment Decisions 9. probabilistic and expected value tables. Objectives: To provide the students with an in-depth knowledge of management accounting.MANAGEMENT ACCOUNTING-DECISION MAKING i. Uncertainty and Use of Probabilities SECTION . WEIGHTAGE 15% STAGE-5 ii. differential cost and comparative cost analysis. marginal costing. Decision Making .Introduction 4. Cost Volume Profit Analysis SECTION . joint cost of product mix. make or buy decision. planning and control for product life cycles. sales volume analysis. study time required for the topics in that section. such as cost volumeINDICATIVE GRID: SYLLABUS CONTENT AREA SECTION . Discounted Cash Flow Techniques 8. probabilities. opportunity cost and relevant cost. generate information on the basis of pricing techniques. SYLLABUS-2005 .  profit analysis. gross profit analysis. iii. and  formulate strategic plans for achieving efficiency and effectiveness in the operation of business. develop cost management information to facilitate the principal management function and strategic management. use effectively the linear programming technique for determination of the best use of available resources for profit maximising and revenue maximising. and presenting it to management for decisionmaking and control purposes. Cost Reduction Techniques     35% 35% 15% TOTAL 100% Note: The weightage shown against each section indicates.C LONG TERM DECISION MAKING 7. cost benefits and behavioural consideration.B SHORT TERM DECISION MAKING 3. students should be able to:  develop information for managerial planning and decision-making by using various techniques.A COST ANALYSIS 1. to enable them to:  apply management accounting techniques for analysing the information.

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN CONTENTS SECTION-A COST ANALYSIS 1. Factors influencing cost behaviour.C LONG TERM DECISION MAKING 7. Optimal sales price using differential calculus. regression analysis and correlation. Definition of objectives. Projects with unequal lives. Sensitivity analysis in long term decision making and the use.D STRATEGIC ADVANTAGE THROUGH COSTING 10. Theory of constraints and bottle-neck analysis. Future value. 8. Consideration. Sunk cost. Cost Reduction Techniques Value analysis. evaluation and selection of alternatives. Relevant cost and revenue. Opportunity cost. The economist's and accountant's CVP model. Cost behaviour Fixed. Adding / deleting a product. Capital Investment Decisions Initiation of project. The value of perfect information. Simulation Analysis in project selection SECTION . Identifying relevant cash flows. scatter graph method. Make or buy decision or outsourcing. Effect of tax and inflation on investment decisions. Non-financial consideration (quantitative vs. Sale or process further.B SHORT TERM DECISION MAKING 3. Methods of segregation of cost into fixed and variable. Effect of changes in cost and revenue. Net present value. Multi-product CVP analysis. Learning curve and cost function. SYLLABUS-2005 . Cost Volume Profit Analysis Break-even analysis. Linear programming for maximising of contribution margin. NPV index. Risk and Sensitivity Analysis Business risk and financial risk. 6. SECTION . Annuities and perpetuities. Internal rate of return. 9. Assumptions of CVP analysis. Linear programming for minimising of cost. SECTION . High low method. Comparison between IRR and NPV. Linear. of computer software for 'what if' analysis. Risk adjusted discount rate. Relevant range. Continuous improvement and cost of quality reporting. 5. Learning curve and labour cost reduction over time. Discontinuation of operation. Pricing strategies for new products: skimming and penetration pricing. Pricing policies. Pricing Decisions Economic theory of pricing. Use of probabilities and expected values in decision making. Lease or buy decisions. Linear Programming Decisions with limiting factors. semi variable and step fixed cost. Discounted Cash Flow Techniques Simple and compound interest. Break-even graph and profit graph. Target costing. Decision Making . Request for proposals bidding and tender documents. Total quality management and zero defect programmes. Graphical linear programming. Capital rationing. Decision tree. Use of probabilities and expected value in calculating cash flows. variable. NPV payback period. 4. 2. Replacement of equipment. curvilinear and step functions. Pricing for target rate of return. Cost based or cost plus pricing. Operational leverage.Introduction The decision process. Return on capital employed. Value chain analysis and supply chain management.. Differential cost. Shadowpricing concept. Difficulties with applying economic theory. Uncertainty and Use of Probabilities Risk and uncertainty. Payback period. qualitative) methods.

Prentice-Hall of India Pvt. Princeton Road. Gary L. Uxbridge Road. Gower Publishing Co. London W12 8AW. Sundem & William O. SYLLABUS-2005 . England. Ltd. Lahore. Prentice-Hall of India Pvt. Lucy PUBLISHER South Western Publishing Co..INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books CORE READINGS TITLE Managerial Accounting Managerial Accounting AUTHOR Ray H. Datar Ronald W. Bush Green.. New York. Mc-Graw-Hill Companies Inc. Harold M. Aldershot.. USA DP Publications Ltd. Horngren. S-1 Hightslown. Management Accounting Decision-Making Introduction to Management Accounting Handbook of Management Accounting PBP Charls T. 142-144. Shepherds. Hilton South Western Publishing Co. NJ08520. Professional Business Publications. Anderson. Horngren. Noreen T. Stratton Roger Cowe ADDITIONAL READINGS Managerial Accounting Cost Accounting-A Managerial Emphasis Managerial Accounting Lane K. Sollenberger Charles T. Garrison & Eric W. New Delhi-110001. Aldine place. Ltd. George Foster & Srikant M. New Delhi-110001. Ltd.

8 Completion Stage of an Audit 2. Objectives: To provide the students an in-depth knowledge of risk management.4 Quality controls 2. Functions and Scope of Cost Audit 3.  apply audit techniques and procedures. and to provide safety to business from such risks. WEIGHTAGE STAGE-5 ii.6 Audit Techniques and Procedures 2.  describe nature.3 Provision of Cost Accounting Records Rules 3.2 Legal. Royalty.2 Planning the Cost Audit 3. iii.1 Risk Management Control and Evaluation 1. planning and procedures of cost audit.RISK MANAGEMENT AND AUDIT i.2 Management of Financial Risks 1.  describe Cost Accounting Records Rules. INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION-A 1. Inter-Company Transactions 75 % 25 % TOTAL 100% SYLLABUS-2005 . and is designed to focus on risks involved in operations and production areas. labour and overhead costs.9 Reporting Function 2.  determine legal and ethical considerations of audit profession and carry out job keeping in view of their professional responsibility. Outcomes: On completion of this course.5 Internal Control and Internal Audit 2. RISK MANAGEMENT 1.  describe documentation and evidence of audit work.5 Labour Cost 3.10 Role of Corporate Governance in Mitigation of Risks 2. cost audit.3 Audit Planning and Evaluation 2.3 Case Study – Risk Management System of a Limited Company/Corporation 2.1 Nature. functions.4 Material Cost 3. keeping in view types of qualifications.7 Sales.6 Overheads 3.11 Case Study-Risk Management System of a Listed Company SECTION-B 3. COST AUDIT 3. evaluate and manage different types of risks. AUDITING 2. objectives.  determine status of internal control and internal audit for deciding quantum by audit work to be conducted. and  identify and advise management to take appropriate remedial actions in those areas where major risks are involved.1 Nature and Principles of Auditing 2. Objects.  draw up audit planning and determine quantum of audit work to be carried out in view of significant business risks.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-503 .  prepare an audit report. financial audit and cost audit to enable them to:  conduct audit effectively. Professional and Ethical Considerations 2.7 Documentation and Evidence of Audit Work 2. students should be able to:  identify.  determine role and importance of internal control. and  explain audit of material.  define objectives and scope of audit and describe the conceptual approach of auditing and evaluate and manage these risks. scope. Introduction: This course comprises conventional audit.

remuneration. effect of transactions with related party on the financial statements. audit risk. methods of measuring. audit planning. removal. audit of small entities. monitoring of time. exchange rates. 1984. qualifications. revision of risk assessment. social audit. identification of risks of an organisation. study time required for the topics in that section. evaluation of cost and benefits of audit. principles and techniques of internal control and internal audit. detailed audit programmes. insider dealing. misconduct. 1. issued by professional institutes of Pakistan. knowledge on ICMAP Act. legal.3 Case Study – Risk Management System of a Limited Company/Corporation 2. impact of differential inflation rates. change in engagement. professional responsibility and liability of auditor with regard to fraud and error. reasonable assurance. Professional and Ethical Considerations Appointment. evaluating the effects of alternative methods by risk management. general principles governing audit. in cases of new and recurring customers. issues related to management’s risk policy. Regulation of audit and developments in auditing theories and their implications for the profession. responsibilities. preceding year’s financial statements.2 Legal. Professional Code of Ethics and Behaviour issued by International Federation of Accountants (IFAC) Rules of professional conduct. CONTENTS SECTION-A 1. relationship between internal and external audit.4 Quality controls Leadership responsibilities for quality of audits. limitations and effectiveness of internal 2. currency risk management. International Auditing Standards and Guidelines. Nature and Principles of Auditing Nature. RISK MANAGEMENT 1. engagement performance.1. systems and procedures. objectives and scope of an audit. ethical and practical requirements. accounting. types. pronouncement and technical release. going-concern and responsibility for financial statements. Risk assessment procedures and success of information about the entity and its environment. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination.3 Audit Planning and Evaluation Review of client’s business. concept of true and fair view. liabilities.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Note: The weightage shown against each section indicates. evaluation of risk management strategies. duties. 2. types of audit. multi-location and special purpose engagements and for providing other services. preparations and issue of engagement letters. cost audit.2 Management of Financial Risks Identification and evaluation of financial risks and appropriate methods for controlling them. overall audit plan. involvement of financial audit. 1. definition. of auditors under the Companies Ordinance. 2. and make recommendations. minimising the risks of fraud and application of appropriate audit techniques. assessing and managing risks. determining the audit risks and level of materiality. minimising political risks. AUDITING Appointment of auditor under Section 177 of the Income Tax Ordinance 2001.5 Internal Control and Internal Audit Definition. nature and types of risks. Responsibility of management. Regulation and Code of Ethics. client’s general information. principles of diversification of risks. identifying critical or significant audit areas. 2. responsibility of auditors. negligence. 2. reporting non compliance. engagement quality control reviews. materiality. SYLLABUS-2005 . disqualifications etc. internal audit to identify and eliminate various types of risks. environmental audit. assignment of engagement teams. assessing and controlling risks. expectation gap. Auditor’s liability to third parties. progress and costs. investigations and appointment of inspectors under the Companies Ordinance. powers. resignation. allocation and supervision of work. 1984. its significant business risk. objectives.1 Risk Management Control and Evaluation Meaning.

sub-assemblies. financial risks and their mitigation. 2. modes of valuation of stores issues. spoilage. substantive testing. obligation for maintenance of cost accounting records under Section 230(I) (e) of the Companies Ordinance 1984. review of audit work. scrap 3. cost audit report. compliance technique. penalty. particulars to be included in cost auditor’s report to the directors of the company.2 Planning the cost audit familiarity with the production process. their meaning. control activities. ownership. impact of internal audit work. management letter (including communication with audit committee) subsequent discovery of facts existing at the date of auditor’s report. 3. appropriateness of accounting policies and their consistent application. objectives. use of test of controls and substantive procedures for identifying risks of material mis-statements in existence.papers.7 Documentation and Evidence of Audit Work Documentation of work done. liquidity risk. occurrence. role of audit committee towards internal control and audit. related parties (completion and review engagements). Control environment. control and detection risk and factors affecting thereto. issues. use of Computer Assisted Audit Techniques. review of the company’s report and accounts. Cost Accounts Rules and Cost Audit Report Rules 1995. recording of significant points. duties. cost audit as required under Section 258 of the Companies Ordinance 1984. systems and procedure of different industries. use of internal control questionnaire. interest rate risk. sampling techniques. presentation and disclosure of assets and liabilities. entity’s risk assessment process. other information in report containing audited financial statements. relevance. returned. 2. 2. measurement. from time to time. preparation of the audit programme. reliance on internal audit by external auditor. ownership obligation. miscellaneous. functions and scope of cost audit. existence. requirement of cost audit report rules. 2. waste. valuation. reconciliation with financial account.6 Audit Techniques and Procedures Techniques of audit testing. nature and sources. date and place of auditor’s report and signing thereon. valuation. report on un-audited financial statements. under Section 230 (I) (e) of the Companies Ordinance 1984. evidence of review. 3.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN control. cost statement. analytical review. third party confirmation. rights. fabrication of different components.8 Completion Stage of an Audit Post-balance sheets events. group audit.11 Case Study . reliability. Provision of cost accounting records rules issued by the Securities & Exchange Commission of Pakistan. credit risk. major components. 2. Material cost: receipts. special purpose reports and reports on forecast and estimates. completion procedures. Cost Audit 3. transfers. valuation of receipt. conclusions drawn and action taken. forensic assignments. monitoring of controls. management representations. joint audits. completeness (cut-off). sovereign risk.3 Provision of cost accounting records rules issued under Section 230 (1) (e) of the Companies Ordinance 1984 up-to-date. evaluation of accounting and internal control systems. auditor’s observations and conclusions of report.4 SYLLABUS-2005 . authentication of cost statements. stores and spares: own-manufactured components and containers. report on prospectus and relating to bonus-issues and due diligence engagements. responsibilities and status of cost auditor.10 Role of Corporate Governance in Mitigation of Risks Role of corporate governance in mitigation of risks. internal control in Computer Information System environment. depth of understanding of internal controls. partnership and sole-traders.1 Nature. reliance on other auditors and experts. completeness. sufficiency. types and qualifications. types of working. byproducts. controls relevant to audit.Risk Management System of a Listed Company SECTION-B 3. 2. assessment of inherent.9 Reporting Function Audit reports. consumption manufacturing / processing losses. issuance of management letter. objectives. defective work. contingent liabilities and commitments.

International Federation of Accountants. Institute of Business Management. and manufacturing overheads. The Institute of Internal Auditors USA. Butterworth & Co. London WC2B 6AB. administration overheads. 1164. Tandan and Vaslisht Prof. Khawaja Amjad Saeed Prof. 1164. Institute of Business Management. Ltd. Khawaja Amjad Saeed PUBLISHER Institute of Business Management. royalty. measurements (Ratio). abnormal non-recurring costs. Pitman Publishing. income from intermediary products. nature and treatment of discrepancies. methods of valuing and costing byproducts. distribution. Lahore. Lahore. Box No. 128 Long Acre. G. plant utilisation. Dr. 3.O. spoilage/scraps. 88 Kingsway. Stein Spicer and Peglar Michel Crouhy. collection of research and development costs. Attwood & Neil D. Khawaja Amjad Saeed ______ David McNamee ADDITIONAL READINGS Frank A. Rajouri Garden. 545. books of cost accounting. Box No.7 Sale. Dr. income from work done for outside parties.P. NY 10017. 1164. interest. Spicer & Peglar’s Practical Auditing Risk Management Cost Audit Rules Corporate Governance Corporate Governance SYLLABUS-2005 . London WC2E 9AN. standard costing system.O. selling and distribution overheads. New Delhi 110027.5 Labour cost: classification departmentalisation of labour costs. capacity utilisation. Fifth Avenue. Box No. utilities. Recommended Books TITLE Principles of Auditing Advanced Auditing International Standards on Auditing Business Risk Assessment De Paula’s Auditing CORE READINGS AUTHOR Prof. production and statistical record. service departments. New York. Robert Mark. 3. G. Deep and Deep Publications. general principles of allocation/apportionment of overheads. indirect materials/ wages/expenses. Dr. G. Lahore. 3. 14th Floor. Mc-Graw-Hill Govt.O. budgetary control. of Pakistan.P. inter-company transactions.6 Overheads: depreciation. physical verification.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN and losses. allocation of cost of utilities. Dan Galai ____ Arya. repairs and maintenance. work-in-progress.P.

and recommend to manage it properly.  develop and evaluate capital budgeting and recommend methods of funding investments. iii.  describe the procedures for foreign exchange control in business.STRATEGIC FINANCIAL MANAGEMENT STAGE-6 i.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-601 . Working Capital Policy 5. WEIGHTAGE 15% SYLLABUS CONTENT AREA SECTION-A FINANCIAL PLANNING AND ANALYSIS 1. The Cost of Capital 10. Financial Planning and Forecasting SECTION-B SHORT AND MEDIUM-TERM STRATEGY 4. Outcomes: On completion of this course.  identify and evaluate the financial and strategic implications of proposals for mergers and acquisitions. ii. Multi-national Managerial Finance 15.  explain the criteria that management uses to determine whether profit should be reinvested or paid out as dividends. Capital Structure 12. and  develop financial plan to manage various financial activities of business.  calculate and evaluate the cost of capital. An Overview of Financial Management & Managerial Finance 2. Analysis of Financial Statements 3. INDICATIVE GRID: Introduction: This course is designed to focus on the theoretical and practical aspects of financial management. Managing Cash and Marketable Securities 6. The course contains tools and techniques of financial management.  explain various steps involved in mergers & acquisitions & corporate restructuring. students should be able to:  identify the objectives of the business in financial terms and evaluate their attainment. which can be applied in the specific area of business.  identify and evaluate working capital position. Mergers & Acquisitions 16. Objectives: To provide the students with an in-depth knowledge of strategic financial management enabling them to:  understand and apply strategic approach of financial management. Inventory Management 8.  develop financial plan to control short and longterm finances.  describe the procedures for transfer of money from one country to another.  outline the factors to be considered in the development of dividend policy. to manage operating.  examine the financial goals and policy of the business for proper application. Capital Budgeting 11. Credit Management 7.  review the financial statements of the business and evaluate the financial position. financing and investing activities.  use financial instruments for strategic financial management. in the light of policy. Short-term Financing SECTION-C LONG-TERM STRATEGY-I 9. Corporate Restructuring 17. Dividend Policy 14.  identify various financial techniques and describe their applications. Portfolio Theory and CAPM SECTION-D LONG-TERM STRATEGY-II 13. Managing Financial Risks 20% 40% 25% TOTAL 100% SYLLABUS-2005 .  describe how to manage financial risks.

uses and limitations of ratio analysis. operating leverage. short. 5. 2. study time required for the topics in that section. role of finance in organisational structure of the firm. cost of retained equity. 6. Miller-Orr Model. Inventory Management Types of inventory. agency relationships and the external environment. financial control – budgeting and leverage. accounts payables. The Cost of Capital Cost of debt. SECTION-C LONG-TERM STRATEGY-I 9. comparison of the NPV and IRR methods. Analysis of Financial Statements Financial statements and reports. the operation of stock exchanges. capital budgeting. similarities between capital budgeting and security valuation. objectives of financial management. monitoring inventory levels including calculation of safety stock using probabilistic Approach. inventory control system. valuation bases for assets. financial break-even analysis. using receivable as a source of finance through factoring. credit policy. lengthening credit period of customers. the accuracy of financial statements. introduction to project risk analysis. Credit Management The credit function. SECTION-B SHORT AND MEDIUM-TERM STRATEGY 4. CONTENTS SECTION-A FINANCIAL PLANNING AND ANALYSIS 1. EOQ model extension. managerial actions to maximise shareholders’ wealth. beta (or market) risk. pay-back period. 10. Short-Term Financing Sources of short-term financing. managerial finance in the current perspective. project classification. other considerations in forecasting. Capital Budgeting Importance of capital budgeting. basis of lease or buy-decision. An Overview of Financial Management & Managerial Finance Importance of managerial finance. operating break-even analysis. lease versus buying decision. managing inventory. working capital investment and financing policies. capital budgeting evaluation techniques. credit collection policy. role and advantages of a treasury department. terms of credit. monitoring accounts receivables. and pros and cons of these methods. weighted average cost of capital. offering discounts. 8. accruals. cash management techniques. cash flow estimation. generating ideas for capital budgeting. SYLLABUS-2005 . cost of preferred stock.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Note: The weightage shown against each section indicates. Financial Planning and Forecasting Sales forecast. Managing Cash and Marketable Securities Cash management. marginal cost of capital. efficient market hypothesis. the relationship of working capital items. Working Capital Policy Working capital terminology. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. creditworthiness of a lender. the cash / operating cycle. leverage and risk. 3. projected (pro-forma) financial statements. ratio analysis. relevant cash flow. domestic and international longterm finance: share capital.term bank loans. the requirements of external working capital financing. marketable securities. role of professional advisors. the goals of corporation. setting the credit standards. links between investment decisions & customer requirements. advantages and disadvantages of short – term financing and long term financing. Baumol Model. the cash budget. 7. financial leverage. and sensitivity analysis. APV (Adjusted present value). commercial papers. cash break-even. the cost versus benefits of cash management. and other factors influencing credit policy. cost of equity. financial strategy and regulatory requirements. the responsibilities of manager finance. long-term debt and finance leases. interests of different stakeholders. (WACC). opportunities for additional sales.

12. the international monetary system and exchange rates. trading in foreign exchange. CORE READINGS Financial Management and Policy Financial Management Management Accounting Financial Strategy Financial Management Theory and Practice Financial Management TITLE James C. MM hypothesis and traditional theory of capital structure. international capital structure. vertical.4/12 Asif Ali Road New Delhi. and residual dividend policy. Professional Business Publications. horizontal.. methods of payment in Mergers and Acquisitions. New Delhi.K Jain AUTHOR Prentice Hall of India Pvt. take-over. Dividend Policy Dividend policy and shares’ value. United Kingdom. divestment techniques & other techniques. Jangpura. bonus shares and share splits. Lahore. hedging risks.Y Khan and P. effects on market value. methods of take-over. PUBLISHER ADDITIONAL READING SYLLABUS-2005 . Vikas Publishing House.. 17. Brigham and Michael C.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN 11. determining the optimal capital structure. defensive strategies in hostile take-over bids. preventive measures & active measures. Masjid Road.M. reconstruction. (Pvt) Ltd. factors influencing dividend policy. option contracts. techniques of restructuring: expansion techniques. commodity contracts. 15. New Delhi 110001. operational and financial motives. Pandey PBP Eugene F. Van Horne I. tax benefits of Mergers and Acquisitions. motives & strategies influencing Mergers and Acquisitions. Managing Financial Risk Derivatives securities. multi-national versus domestic managerial finance.Ltd. and financial reorganisation. conglomerate & preference for group structure. Portfolio Theory and CAPM SECTION-D LONG-TERM STRATEGY-II 13. forward contracts. strategies for restructuring. 576. Tata Mc-Graw-Hill Publishing Co. futures markets. hardware restructuring and software restructuring. steps in merger transactions. Ehrhardt M. interest rates. inflation. merger or acquisition. Capital Structure The target capital structure. categories of Mergers and Acquisitions. South Western. Mergers and Acquisitions Definition & meaning. integration process after acquisition or merger (difference in culture & MIS). types of amalgamation. credit derivatives. strategies. multi-national capital budgeting. Ltd. Multi-national Managerial Finance Multi-national corporations. intellectual property. reverse merger: steps in reverse merger. multi-national working capital management. 16. and venture capitalists and exit strategy. 14. implications of restructuring. interest rate swaps. Corporate Restructuring Meaning and areas of restructuring. growth of capital invested and retained earnings and dividend policy.

study time required for the topics in that section. Ebusiness assumptions. Information and Data-bases 5. Moving Towards E-business 2.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-602 . AUDIT AUDITING IN I. 15.T. Artificial Intelligence 7. Audit. SYLLABUS-2005 . Auditing Development. Introduction: This course deals with management of security of the systems. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. Management. Auditing Infrastructure and Operations. Information Systems Planning 8.T. Protection/Security of Information Assets. STAGE-6 ii. ENVIRONMENT 11. Moving Towards E-Business Definition of business. Product.  perform preliminary security audit of information systems and apply skills to a security incident.INFORMATION SYSTEMS AND IT AUDIT i. students should be able to:  demonstrate an understanding of the complexity of managing security in electronic systems. Security and Ethical Challenges 10. iii. information technology as driving force for innovation. 13.T. 14. Planning and Organisation of Information System. obstacles when applying IT in the real world. information systems and E-business. Acquisition and Maintenance WEIGHTAGE 50% 50% Note: The weightage shown against each section indicates. and  apply conceptual approach of information systems to I. Objectives: To provide the students with a detailed knowledge of Information System and I. Information Systems. Disaster Recovery and Business Continuity Planning 16. and E-commerce 6. Business Processes 4. Audit Process and Internal Control 12. control and security practices. Outcomes: On completion of this course. functional areas and the value-chain. TOTAL 100% INFORMATION SYSTEM 1. E-commerce business models. definition of work systems. Lab Sessions: Spreadsheets for Modeling and Forecasting SECTION-B I. CONTENTS SECTION-A business processes.T. phases in building and maintaining systems. and  apply the most effective information systems audit. Audit to enabling them to:  design and develop information system to improve the performance of organisations.  identify and assess the critical threats to information systems. Building and Maintaining Information Systems 9. INDICATIVE GRID SYLLABUS CONTENT AREA SECTION-A INFORMATION SYSTEM 1. and is designed to focus on tools and techniques of information systems and application of knowledge to I. Customer. Audit.T. Understanding Systems from a Business Viewpoint 3.

linear programming SYLLABUS-2005 . decision support systems. advantages and disadvantages of each approach. Computer Viruses and Worms)  Privacy Issues (Privacy on Internet.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN 2. Challenges to Individuality) Health Issues (Ergonomics)  Internet worked Security defenses (Encryption. Security and Ethical Challenges  Ethical Responsibility of Business Professionals (Business Ethics. e-Mail Monitoring. Piracy of Intellectual Property. Challenges in Working Conditions. the customer experience. Lab Sessions: Spreadsheets for Modeling and Forecasting (6 Hrs) a) Using spreadsheets as a decision support tool. principle-based systems analysis (PBSA) method. Information Systems Planning The importance of IS planning. Virus Defenses)  Other Security Measures (Security Codes. 5. Business and AI The Domains of AI Neural Networks Fuzzy Logic Systems Genetic Algorithms Virtual Reality Intelligent Agents Expert Systems Value of Expert Systems 7. types of data-bases. Denial of Service Defenses. 9. Computer Libel and Censorship)  Other Challenges (Employment Challenges. work system principles. Business Processes Process modeling. deciding on a combination of methods to use. the importance of models. missioncritical and strategic information systems. business process performance variables. linear programming. sensitivity analysis. measuring work system performance. auditing and other tools. application packages. communication systems. information systems as a competitive advantage. office automation systems. Biometric Security. data flow diagrams (DFDs). 3. Understanding Systems from a Business Viewpoint Frameworks and models. goal seeking. implementation and operation and maintenance. basic communication concepts. Customer. flowcharts and pseudo code.  Computer Crime (Hacking. enterprise systems. Unauthorized Use at Work. centralised vs. Fault Tolerant Systems. limitation and uses of information systems categories. project management. Firewalls. b) Optimisation Linear optimisation. Computer Monitoring. and end-user development. capital budgeting. Security Monitors. challenges for e-commerce. and E-commerce Three dimensions of products and services. business maxims and IT maxims. process characteristics. data as a resource. strategic-level vs. Disaster Recovery). the roles of a data-base management system. alternative processes for building information systems: traditional life cycle. Students need to have competency in the use of advanced built-in functions and accounting related extensions to the spreadsheet package such as what-if analysis. the customer’s criterion for evaluating products and services. Software Piracy. Product. Building and Maintaining Information Systems Four phases of any information system: initiation. decentralised IS architecture. project-level planning. Backup Files. Technology Ethics and Ethical Guidelines). Competency in developing a decision support/forecasting implementation of a business problem on a spreadsheet. Cyber Theft. development. prototypes. developing financial and forecasting models. 8. management and executive information systems. product customisation and adaptability. basic decision-making concepts. Computer Failure Controls. regression analysis. transaction processing systems. Artificial Intelligence Future trends including advances in artificial intelligence. cost/benefit analysis of information systems. Privacy Laws. Computer Matching. Information and Data-bases What is a data-base? data modeling. 6. Information systems categories. the work system framework. relationship between work systems and information systems. 4. 10.

Planning and Organisation of Information System Reviewing the IS strategy: planning. review of acquisition process for outsourcing. scheduling reviews. continuous online audit approach. Case Study Review of IT Planning/Strategy 13. computer-assisted audit techniques and its need and functional capabilities. library control software. encryption. application controls and their objectives. Audit Process and Internal Control Audit mission. procedures and management practices. procedures and classifications.T. Case Study Review of the protection/security of information assets of a selected organisation. safeguards. features. internal control: objectives. lights out operations. media. information system maintenance practices: change management. controls and audit. audit trails. data-base reviews. Auditing Development. Information Systems. 14. segregation of IS and other organisational functions. project management technique. recovery alternatives and off-site libraries: controls. tools and procedures. AUDIT 11. SECTION-B I. Management. methodology and phases of IS audit. planning and organisation of IS. data conversion. audit report structure and contents. auditing the management. network operating. file creation. token devices and other tools.. logical access software control policy: issues. network infrastructure security: local area network. compliance and substantive testing. information system operations reviews. Auditing Infrastructure and Operations Hardware review. review of IS organisational structure and responsibilities. audit documentation: constraints on the conduct of audit. hardware availability and utilising reporting reviews. code of professional ethics. integer optimisation. external and information technology (IT) auditors. auditing network infrastructure security. wiring. laws and regulations’ effect on Information System (IS) audit planning. operating systems reviews. environmental exposure and controls: water. security. emergencies etc. smoke. 12. testing of recovery plans: specification and execution of tests. Role and responsibilities of internal. performance IS audit. local area network reviews. evaluation of audit strength and weakness. auditing of disaster recovery plans and their pre and post-evaluations. definition. evidence and sampling. Disaster Recovery and Business Continuity Planning Disaster and other disruptive events and components of an effective continuity planning. Acquisition and Maintenance Risk of inadequate system development life cycle (SDLC) and review of development procedures and methodologies. policies. passwords. cost effectiveness and controls. biometrics. auditing standards and guidelines. power. judging the materiality of findings. Case Study Review of the infrastructure of a selected organisation. procedures. 16. Protection/Security of Information Assets Logical access exposures. planning.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN applications. control selfassessment. nonlinear optimisation. problem management reporting reviews. control reviews. firewalls. audit objectives. review of the practice of project management tools and techniques. communicating audit results. fire. 15. category of audit risk. input and output. corporate governance. SYLLABUS-2005 . records. dial-back. client/server. internet threats and security. riskbased audit approach. risk analysis: evaluation and elements of risks. risk assessment techniques. physical access exposures. classification. instruction detection systems. logs. procedures.

Weatherford CISA Spreadsheet/MS Excel Package IFAC Guidelines on IT Microsoft Corporation ______ ADDITIONAL READINGS Introduction to Information System Practical IT Auditing James O’ Brien James R. Prentice Hall. USA. Illinois 60008. Inc. New York. 3704 Algonquin Road. Dr.O. Information Systems Audit and Control Associations. 4/Edition Decision Modelling with Microsoft Excel. 545. Box No. 14th Floor. New York.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Recommended Books CORE READINGS Information Systems: The Foundation of E-Business. New York 10595. Institute of Business Management. Information Technology for Business Executives Principles of Auditing Prof. Suite 1010 Rolling Meaduals. PUBLISHER Jeffrey H. Lahore. Institute of Business Management. G. G. 1164. Moore. Fifth Avenue. Microsoft Corporation. Stanford University Larry R. 6/Edition CISA Review Manual TITLE Steven Alter AUTHOR Prentice Hall International Inc. Hickman McGraw Hill. 117 East Stenens avenue Vahalla.P. Dr.. 1164. Lahore. Box No. Khawaja Amjad Saeed SYLLABUS-2005 . Khawaja Amjad Saeed Prof.O. NY 10017.P. University of Wyoming. New York. International Federation of Accountants. Warren Gorham & Lamont RIA Group.. Irwin.

T. Integrating intuition and analysis. Outcomes: On completion of this course. in a variety of area of business management. CONTENTS SECTION-A strategic management. Key term in SYLLABUS-2005 . The Nature of Strategic Management What is strategic management? Stages of strategic management. and threats. Country analysis and political risks. Strategies Short-term(annual) objectives.B ASSESSING THE ENVIRONMENT 3 The Business Mission 4 The External Assessment 5 The Internal Assessment 6 Strategy Analysis and Choice SECTION-C IMPLEMENTATION AND REVIEW 7.  understanding external and internal assessment. for evaluation and taking appropriate decisions. in strategy formulation.. and  implement strategic planning in specific area of business.BUSINESS STRATEGY i. INDICATIVE GRID SYLLABUS CONTENT AREA SECTION – A STRATEGIC MANAGEMENT 1 The Nature of Strategic Management 2 Strategies in Action SECTION . the strategic management model. students should be able to:  develop knowledge in business strategies such as strategies in action. analysing and implementing the business strategies. Internal strength and weaknesses. strategy evaluation & control and apply in the specific area of decision-making.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-603 . iii. and  understanding. External opportunities.  identify options and make strategic planning. study time required for the topics in that section. Implementing Strategies 8. Importance of I. Selected Case Studies WEIGHTAGE 20% 30% 30% 20% TOTAL 100% Note: The weightage shown against each section indicates.  understanding the types of strategies.MANAGEMENT ACCOUNTING . implementing strategies.g. Long term objectives. business mission. Polices Market regulations and laws e. Objectives: To provide the students with an in-depth knowledge of Management Accounting – Business Strategy enabling them to:  evaluate and interact with the business environment. Adapting to change. Introduction: This course is designed to identify and apply most suitable tools for strategic planning and analysis. Strategy Review. Strategists Mission statements. Evaluation and Control SECTION-D CASE STUDY 9. STRATEGIC MANAGEMENT 1. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. internal and external assessment. SWOT. WTO. STAGE-6 ii. strategies analysis and choice.  understanding strategic management.

Positive features and limitations of the QSPM. Opportunity analysis. The nature of a business mission. Research and development. Market penetration. governmental and legal forces. The input stage. The matching stage. Technological forces. Concentric diversification. Pricing distribution. Economic forces. Market development. Managing resistance to change. Managing the natural environment. Horizontal integration. The decision stage. Sources of external information. Cultural aspects of strategy choice. Product development. Backward integration. the internal factor evaluation (IFE) matrix. Diversification strategies. Creating a strategy-supportive culture. Managing by Objectives. Horizontal diversification. government agencies and departments and in small firms. Policies. Managing conflicts. Focus strategies. A declaration of social policy. Internet. A declaration of attitude. The external factor evaluation (EFE) matrix. 5. cultural. The Internal Assessment The nature of an internal audit. Bargaining power of consumers. Selling product or services. The internal-external (IE) matrix. Vision versus mission. The role of a board of directors. The strategic business unit (SBU) structure. Forecasting tools and techniques. The functional structure. Information technology. SECTION-C IMPLEMENTATION AND REVIEW 7. Cost leadership strategies. The Business Mission What is out business? The importance of clear mission. Liquidation. Production and operation. Competitive forces. Integration strategies. Mergers and leveraged buy-outs. Integrating strategy and culture. Divesture. SECTION . Computer information systems. Joint venture retrenchment. Marketing research. Internal and external R & D. Basic types of financial ratios. Strategic management in non-profit governmental organisations. Forward integration. The grand strategy matrix. Guideline for pursuing strategies. Credit rating. Restructuring and reengineering. The Boston consulting group (BCG) matrix. The divisional structure. A comprehensive strategy formulation framework. Porter's five forces mode. Industry analysis. Defensive strategies. Rivalry among competing firms. Michel Porter's generic strategies. Potential development of substitute products. Long term objectives. Finance and accounting functions. Social responsibility. Strategies in Action Types of strategies. The strategic position and action evaluation (SPACE) matrix. educational institutions. Implementing Strategies The nature of strategy implementation. Differentiation strategies. 4.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN 2. Linking performance and pay to strategies. medical organisations. Internal audit checklists. The matrix structure. The competitive advantage of nations. The competitive profile matrix (CPM). The process of generating and selecting strategies. A customer orientation. Intensive strategies. Political. The process of performing an external audit. Strategic planning software. The process of developing a mission statement. The threats-opportunities-weaknessstrengths (SWOT) matrix. Key external forces. Matching organizational structure with strategy. Potential entry of new competitors. Component of mission statement. Combination. Indexes. A resolution of divergent views. The nature of long term objectives. Making assumptions. Operating as if the nature environment matters.B ASSESSING THE ENVIRONMENT 3. Annual objectives. Production and operation concerns SYLLABUS-2005 . Cooperation among competitors. The value chain. Key internal forces. Conglomerate diversification. Strategy Analysis and Choice The nature of strategy analysis and choice. The process of performing an internal audit. demographic and environmental forces. Bargaining power of suppliers. Management perspective. Relationship among the functional areas of business. Product and service planning. Writing and evaluating mission statements. Social. Competitive intelligence programmes. 6. Leveraged buy-outs (LBOs). The quantitative strategic planning matrix (QSPM). Competitive analysis. The External Assessment The nature of external audit. Resource allocation.

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN when implementing strategies. Contingency planning. Rue Phyllis G. Auditing. Human resource concerns when implementing strategies. Taj Arcade 73-Jail Road Lahore Colin Drury Strategic Management Organisational Behaviour Management Accounting Business Strategy Leslie W. Greory Moorhead Ricky W. London McGraw-Hill McGraw-Hill Companies. Using computers to evaluate strategies. David PUBLISHER Prentice Hall. New York. The environmental audit. The process of evaluating strategies. Gilbert. Strategy Review. Guidelines for effective strategies. Management and Cost Accounting AUTHOR Fred R. Suite # 3. Measuring organisational performance.F. Published sources of strategy-evaluation information. Inc. NY 10020 Professional Business Publications. Edward Freeman Daniel A. Characteristics of an effective evaluation system. One Lake Street. Reviewing bases of strategy. Jr. 5 Third Floor. USA Organisational Behaviour SYLLABUS-2005 . Corporate fitness programmes. New Jersey 07458 Thomson Learning. Griffin Prentice Hall of India New Delhi Houghton Mifflin Company Boston. Selected Case Studies Recommended Books CORE READINGS TITLE “Strategies Management” Concepts & Cases. Evaluation and Control The nature of strategy evaluation. Employee stock ownership plans (ESOPs). The strategyevaluation framework. Hollan Fred Luthans PBP ADDITIONAL READINGS Management James A. High Holborn Ouse. 50-51 Bedford Row. Pearson Education . Balancing work life and home life. Upper Saddle River. 8. Stoner A. Taking corrective action. 1221 Avenue of the Americas. SECTION-D CASE STUDIES 9.

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