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

iii.  distinguish between implicit costs and explicit costs.  explain the functioning of a market economy. International Trade SECTION-C ECONOMY OF PAKISTAN 11. Price and Output Determination SECTION-B MACRO-ECONOMICS 7. WEIGHTAGE STAGE-1 40% 30% 30% TOTAL 100% Note: The weightage shown against each section indicates. Supply and Price Determination 4. SYLLABUS-2005 .INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-102 . Growth. influencing the behaviour and performance of firms and industries.  explain inflation and its causes. elasticity. Demand. Agriculture Sector 13. Objectives: This course enables the students to:  identify how a market economy functions.  explain law of demand and causes of change in demand other than change in price. 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.BUSINESS ECONOMICS i. Money Banking and Finance 10.  develop the economic analysis for the guidance and information of decision-makers. under which business operates. Scale of Production 5.  differentiate between domestic and international trade. Keynes Theory of Employment and National Income 9. Introduction: This course is designed to focus on fundamentals of economic concepts.  explain how under perfect competition the equilibrium price of a commodity is equal to its marginal cost and average cost of production. Concept of National Income 8.  explain the cost of production.  develop an understanding of the economic environment.  explain the problems and performance of industrial sector in Pakistan and to  explain foreign private investment and its impact on Pakistan economy. and  identify the economic factors. 8. differentiate between small and largescale production. Outcomes: On completion of this course.  identify macro-economic concepts to explain the measurement and determination of national income. Cost and Revenue 6. 9. Market Structure.  describe the consumer behaviour and its analysis.  describe types of elasticity of demand. students should be able to:  explain the basic concepts of scarcity choice. SYLLABUS CONTENT AREA SECTION-A MICRO-ECONOMICS 1. to cost and management accounting for taking managerial decisions. in order to enable them to identify and correlate various economic issues. 10. Nature and Scope of Economics 2. determinants and measurement of elasticity and law of supply. and develop understanding and skill of the students. ii. Consumer Behaviour and its Analysis 3.  explain how the price system works by applying appropriate economic concepts and principles. Industrial Sector 14. Foreign Trade and Economic Assistance INDICATIVE GRID:  identify and explain types of internal and external economies. Structure and Performance of Pakistan Economy 12.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Association of persons. other sources. charge to tax. Other Tax Laws: 2. 2001.     such as sales tax. 1969 and Federal Excise Act. arising from income generation and capital gains. recommend on minimising or deferring tax liabilities for individuals or company. 1990. property. AOP. by using exemptions. tax on taxable income (computation of income from salary. WEIGHTAGE 50% 20% 30% STAGE -3 ii. double taxation). anti-avoidance. customs duty and central excise duty. business. tax year. registered and unregistered firms and companies. taxation of foreign source of income of residents. international (geographical source of income. INCOME TAX LAW 1. provisions governing persons (concept.3 Federal Excise Act and Rules.2 Customs Act. compute and advise on tax liabilities of individuals. Customs Act. capital gains. and identify foreign tax obligations.1 Income Tax Ordinance 2001. companies). 2002 and other Tax Laws such as the Sales Tax Act. enabling them to apply in decision-making process in different business situations. 1969 2. filing and tax payment requirements of principal types of taxation. exemptions.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-302 . Objectives: To provide the students with an in-depth knowledge of Tax Laws. special industries (insurance.1 The Income Tax Ordinance 2001. common rules (general. as amended to date. describe features of the direct and indirect taxes. taxation of nonresidents. Income Tax Law 1. CONTENTS SECTION-A TOTAL 100% 1.BUSINESS TAXATION i. income. such as direct taxes on individuals. and indirect taxes INDICATIVE GRID    SYLLABUS CONTENT AREA SECTION-A 1. deductible allowances. trading profit and capital gains. compute for recommendations to the management on issues. relating to business. study time required for the topics in that section. individuals. tax credits). losses. describe record-keeping.4 Capital Value Tax Note: The weightage shown against each section indicates. assets). capital gains. the Income Tax Rules. situations and apply appropriate methods for relieving from such tax. oil & gas and other mineral deposits).2 Income Tax Rules 2002 SECTION-C 2. as amended up-to-date SECTION-B 1. Introduction: This course covers Income Tax Ordinance. iii. as amended up-to-date Definitions. SYLLABUS-2005 . differentiate between tax avoidance and tax evasion. business or professions and other sources. 2005 2. students should be able to:  identify and interpret principal types of taxation. Outcomes: On completion of this course. 2005. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. business individuals. pertaining to tax liabilities of company or firm. arising from income receipts.1 Sales Tax Act 1990 2.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 apply audit techniques and procedures.8 Completion Stage of an Audit 2. cost audit. planning and procedures of cost audit. Introduction: This course comprises conventional audit.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN S-503 . COST AUDIT 3. Professional and Ethical Considerations 2.3 Provision of Cost Accounting Records Rules 3.6 Overheads 3.2 Planning the Cost Audit 3.1 Nature. Functions and Scope of Cost Audit 3. iii. RISK MANAGEMENT 1.  prepare an audit report. objectives. students should be able to:  identify.  draw up audit planning and determine quantum of audit work to be carried out in view of significant business risks.7 Documentation and Evidence of Audit Work 2.  describe Cost Accounting Records Rules.  determine role and importance of internal control.1 Nature and Principles of Auditing 2. Royalty.  determine legal and ethical considerations of audit profession and carry out job keeping in view of their professional responsibility.1 Risk Management Control and Evaluation 1. Inter-Company Transactions 75 % 25 % TOTAL 100% SYLLABUS-2005 .4 Quality controls 2. AUDITING 2.5 Labour Cost 3.3 Audit Planning and Evaluation 2.2 Management of Financial Risks 1.7 Sales.  describe documentation and evidence of audit work. and  explain audit of material. and  identify and advise management to take appropriate remedial actions in those areas where major risks are involved. functions. scope.9 Reporting Function 2. and is designed to focus on risks involved in operations and production areas.  define objectives and scope of audit and describe the conceptual approach of auditing and evaluate and manage these risks. labour and overhead costs. financial audit and cost audit to enable them to:  conduct audit effectively. Outcomes: On completion of this course.10 Role of Corporate Governance in Mitigation of Risks 2.3 Case Study – Risk Management System of a Limited Company/Corporation 2. evaluate and manage different types of risks. INDICATIVE GRID: SYLLABUS CONTENT AREA SECTION-A 1.6 Audit Techniques and Procedures 2. WEIGHTAGE STAGE-5 ii.2 Legal.4 Material Cost 3. keeping in view types of qualifications. Objectives: To provide the students an in-depth knowledge of risk management. Objects.RISK MANAGEMENT AND AUDIT i.5 Internal Control and Internal Audit 2. and to provide safety to business from such risks.11 Case Study-Risk Management System of a Listed Company SECTION-B 3.  describe nature.  determine status of internal control and internal audit for deciding quantum by audit work to be conducted.

allocation and supervision of work.4 Quality controls Leadership responsibilities for quality of audits. knowledge on ICMAP Act. engagement performance. misconduct. evaluation of cost and benefits of audit. minimising the risks of fraud and application of appropriate audit techniques. its significant business risk. accounting. ethical and practical requirements. resignation. going-concern and responsibility for financial statements. 1984. of auditors under the Companies Ordinance. assignment of engagement teams. powers. concept of true and fair view. liabilities.2 Management of Financial Risks Identification and evaluation of financial risks and appropriate methods for controlling them. overall audit plan. 1984. reporting non compliance. Regulation of audit and developments in auditing theories and their implications for the profession. pronouncement and technical release. assessing and managing risks. Risk assessment procedures and success of information about the entity and its environment. reasonable assurance. removal. Auditor’s liability to third parties. involvement of financial audit. internal audit to identify and eliminate various types of risks.3 Case Study – Risk Management System of a Limited Company/Corporation 2. duties. Professional Code of Ethics and Behaviour issued by International Federation of Accountants (IFAC) Rules of professional conduct.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN Note: The weightage shown against each section indicates. SYLLABUS-2005 . social audit. currency risk management. detailed audit programmes. methods of measuring. insider dealing. and make recommendations. evaluation of risk management strategies. monitoring of time. types of audit. determining the audit risks and level of materiality. 1. preceding year’s financial statements. Professional and Ethical Considerations Appointment. objectives. change in engagement. identifying critical or significant audit areas. Regulation and Code of Ethics. client’s general information. in cases of new and recurring customers. responsibility of auditors. Responsibility of management. minimising political risks. impact of differential inflation rates. cost audit. principles and techniques of internal control and internal audit. general principles governing audit. types. audit of small entities. legal. 2. nature and types of risks. materiality. 2. CONTENTS SECTION-A 1. 2. issued by professional institutes of Pakistan. identification of risks of an organisation. AUDITING Appointment of auditor under Section 177 of the Income Tax Ordinance 2001. preparations and issue of engagement letters. International Auditing Standards and Guidelines. disqualifications etc. relationship between internal and external audit. study time required for the topics in that section. multi-location and special purpose engagements and for providing other services. This weightage does not necessarily specify the number of marks to be allocated to that section in the examination. engagement quality control reviews. professional responsibility and liability of auditor with regard to fraud and error. remuneration. responsibilities.1 Risk Management Control and Evaluation Meaning. expectation gap. exchange rates.5 Internal Control and Internal Audit Definition. limitations and effectiveness of internal 2. negligence. principles of diversification of risks. 2. assessing and controlling risks. investigations and appointment of inspectors under the Companies Ordinance. 1. evaluating the effects of alternative methods by risk management.1. Nature and Principles of Auditing Nature. audit risk. objectives and scope of an audit. revision of risk assessment. RISK MANAGEMENT 1. systems and procedures. qualifications.2 Legal. audit planning. environmental audit. definition. effect of transactions with related party on the financial statements. issues related to management’s risk policy. progress and costs.3 Audit Planning and Evaluation Review of client’s business.

2. cost audit report. stores and spares: own-manufactured components and containers. internal control in Computer Information System environment. use of test of controls and substantive procedures for identifying risks of material mis-statements in existence. review of the company’s report and accounts. assessment of inherent. spoilage.1 Nature. Cost Accounts Rules and Cost Audit Report Rules 1995. their meaning. sufficiency. sovereign risk. 3. use of Computer Assisted Audit Techniques. systems and procedure of different industries. contingent liabilities and commitments.2 Planning the cost audit familiarity with the production process. financial risks and their mitigation. valuation of receipt. existence. evaluation of accounting and internal control systems. date and place of auditor’s report and signing thereon. interest rate risk. control and detection risk and factors affecting thereto. analytical review. related parties (completion and review engagements).10 Role of Corporate Governance in Mitigation of Risks Role of corporate governance in mitigation of risks. special purpose reports and reports on forecast and estimates. objectives. group audit. relevance. preparation of the audit programme. liquidity risk. valuation. scrap 3. Material cost: receipts. functions and scope of cost audit. Cost Audit 3. authentication of cost statements. 2. consumption manufacturing / processing losses. modes of valuation of stores issues. valuation. reliance on internal audit by external auditor. control activities. major components. byproducts. waste. types of working. management representations. appropriateness of accounting policies and their consistent application. requirement of cost audit report rules. responsibilities and status of cost auditor. issues. compliance technique. penalty. under Section 230 (I) (e) of the Companies Ordinance 1984.7 Documentation and Evidence of Audit Work Documentation of work done. defective work. nature and sources. depth of understanding of internal controls. impact of internal audit work. cost audit as required under Section 258 of the Companies Ordinance 1984.11 Case Study . management letter (including communication with audit committee) subsequent discovery of facts existing at the date of auditor’s report. 2. cost statement. role of audit committee towards internal control and audit. sub-assemblies. report on prospectus and relating to bonus-issues and due diligence engagements. reconciliation with financial account.3 Provision of cost accounting records rules issued under Section 230 (1) (e) of the Companies Ordinance 1984 up-to-date. conclusions drawn and action taken. review of audit work. miscellaneous. occurrence.Risk Management System of a Listed Company SECTION-B 3. transfers. completeness. report on un-audited financial statements. entity’s risk assessment process. measurement. from time to time. duties. completion procedures.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN control. partnership and sole-traders. presentation and disclosure of assets and liabilities. sampling techniques. other information in report containing audited financial statements. reliability. ownership. joint audits. use of internal control questionnaire. particulars to be included in cost auditor’s report to the directors of the company. recording of significant points. monitoring of controls. evidence of review. controls relevant to audit.9 Reporting Function Audit reports. 2. returned. Provision of cost accounting records rules issued by the Securities & Exchange Commission of Pakistan. ownership obligation.4 SYLLABUS-2005 . objectives. 3. fabrication of different components. rights. reliance on other auditors and experts.6 Audit Techniques and Procedures Techniques of audit testing. types and qualifications. auditor’s observations and conclusions of report. substantive testing.8 Completion Stage of an Audit Post-balance sheets events. issuance of management letter. forensic assignments. completeness (cut-off). Control environment. third party confirmation. 2. obligation for maintenance of cost accounting records under Section 230(I) (e) of the Companies Ordinance 1984.papers. 2. credit risk.

London WC2B 6AB. production and statistical record. books of cost accounting. Box No. 1164. Dan Galai ____ Arya. work-in-progress. 88 Kingsway. of Pakistan. Khawaja Amjad Saeed PUBLISHER Institute of Business Management. Tandan and Vaslisht Prof. Spicer & Peglar’s Practical Auditing Risk Management Cost Audit Rules Corporate Governance Corporate Governance SYLLABUS-2005 . methods of valuing and costing byproducts. Box No. income from work done for outside parties. Lahore. spoilage/scraps.O. service departments.5 Labour cost: classification departmentalisation of labour costs. G. Fifth Avenue. Robert Mark. NY 10017. standard costing system. Attwood & Neil D. London WC2E 9AN. International Federation of Accountants. Stein Spicer and Peglar Michel Crouhy. selling and distribution overheads. 14th Floor. royalty. New York. 545. 3. 3. Khawaja Amjad Saeed Prof. budgetary control.P. 128 Long Acre.O. utilities. indirect materials/ wages/expenses. Mc-Graw-Hill Govt. income from intermediary products. general principles of allocation/apportionment of overheads. Institute of Business Management. Recommended Books TITLE Principles of Auditing Advanced Auditing International Standards on Auditing Business Risk Assessment De Paula’s Auditing CORE READINGS AUTHOR Prof. allocation of cost of utilities. Institute of Business Management. collection of research and development costs. G.6 Overheads: depreciation.INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN and losses. Butterworth & Co. Pitman Publishing. capacity utilisation. Rajouri Garden.P. 1164. Deep and Deep Publications. plant utilisation.7 Sale. Box No. administration overheads.P. Ltd. Dr. Lahore. Dr. New Delhi 110027. The Institute of Internal Auditors USA. G. Lahore. 3. inter-company transactions. nature and treatment of discrepancies. 1164. repairs and maintenance. Khawaja Amjad Saeed ______ David McNamee ADDITIONAL READINGS Frank A.O. Dr. interest. measurements (Ratio). physical verification. distribution. and manufacturing overheads. abnormal non-recurring costs.

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

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

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

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

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

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

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

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

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

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

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