Scheme of Studies of B Com Distance Education Directorate of Distance Learning Education B.Com 2 years Program (Semester System) For the year 2012 and onward GC University, Faisalabad[Type text] Page 1 Scheme of Studies of B Com Distance Education B.Com 2 Years Program (Distance Learning) Session (2012‐14) Scheme of Study Semester 1 Semester 2 Course Mark Course Mark Title Title Code s Code s COM‐D301 Principles of Accounting 100 COM‐D302 Financial and Regulatory Institutions 100 COM‐D303 Fundamental of Business 100 COM‐D304 Business Mathematics & Statistics 100 Computer Application in COM‐D305 100 COM‐D306 Financial Accounting 100 Business COM‐D307 Micro Economics 100 COM‐D308 Macro Economics 100 Business Communication & Report ENG‐D321 Functional English 100 ENG‐D322 100 Writing ISL‐D302 Islamic Studies 50 PST‐D322 Pakistan Studies 50 Total 550 Total 550 Semester 3 Semester 4 Course Mark Course Mark Title Title Code s Code s COM‐D401 Economics of Pakistan 100 COM‐D402 Advanced Accounting ‐II 100 COM‐D403 Advanced Accounting ‐I 100 COM‐D404 Cost Accounting 100 COM‐D405 Auditing 100 COM‐D406 Sales Tax & Custom Law 100 COM‐D407 Introduction to Finance 100 COM‐D408 Business Law 100 COM‐D409 Income Tax Law 100 COM‐D410 Internship 100 Total 500 Total 500 Total Marks: 2100 GC University, Faisalabad[Type text] Page 2 Scheme of Studies of B Com Distance Education B.Com 2 Year Program (Distance Learning) Session (2012-14) Course Outlines Course Code COM-D301 PRINCIPLES OF ACCOUNTING Marks = 100 Pre-Requisite NONE Semester I Objectives 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 accounts and balance sheet from adjusted trial balance Calculate depreciation by using different methods Prepare bad debt accounts and provision for doubtful debts OUTLINE Journals Introduction Need and Importance of Accounting, Book-Keeping, Book-keeping vs Accounting, Accounting vs Accountancy, branches of Accounting, Important Accounting terms and Concepts Transaction and Accounting Equation Analysis of Business Transactions and Double Entry System What is an Account, Classification of Accounts, Rules of Debiting and Crediting, Explanation of Tools Journal proper and summary of book keeping to the Trail Balance Opening Entries, Closing Entries, Adjusting Entries GC University, Faisalabad[Type text] Page 3 Scheme of Studies of B Com Distance Education Ledger: The main book of Account Trial Balance, Method of Preparing Trial Balance, Accounting Cycle to the Trial Balance Cash book and Bank Reconciliation Statement Cash book definition, Is cash flow a journal or Ledger?, Distinction between cash book and a cash account, Types of cash book, Opening an account with a bank, Accounting treatment of Cheques, Dishonor of Cheques, Classification of cash books, Bank reconciliation statement, Distinction between cash book and pass book, What is meant by reconciliation. Accounting for Bills of Exchange Definition, How bill of Exchange works?, How transactions related to bills of exchange are recorded?, Accounting Treatment for bills receivable and Bills Payable, Discounting of a bill of Exchange, Endorsement of Bills of Exchange, Bill sent to bank for collection, Dishonor of a bill of Exchange, Renewal of a bill, Difference between Dishonor and Renewal of a bill, Insolvency of one party, Retiring a Bill under rebate, Accommodation bills, Effect of insolvency, Bill receivable and bills payable Books, Promissory Note Final Accounts: The completion of accounting cycle What are final accounts, what do we mean by revenue, expenses, matching revenue and expenses, trading account, why is trading account prepared, why closing stock is shown in trading account, valuation of closing stock, closing entries: trading account and double entry system, profit and loss account: stage 2, balance sheet: last stage in final accounts, classification of assets, classification of liabilities, grouping and Marshalling of assets & liabilities in balance sheet Adjustments and their effects on final Accounts: The two systems of ascertaining profit and loss, adjustments and their need, main types of adjustments, necessity for provision for doubtful debts, provision for discount on debtors, provision for discount on creditors, some typical problems in final accounts Rectification of Errors: Errors causing disagreement of trial balance, errors not causing disagreement of trial balance, what to do when trial balance does not agree, agreement of trial balance by opening suspense account, how to errors are rectified, correction of one sided errors if GC University, Faisalabad[Type text] Page 4 Scheme of Studies of B Com Distance Education detected before preparation of the trial balance, correction of two sided errors after preparation of the trial balance but before the preparation of final accounts, effect of errors on the final accounts or the financial statements. Recommended Book: 1. Muhammad Arif Ch, Sohail Afzal, Acconuting, Azeem Academy. GC University, Faisalabad[Type text] Page 5 Business risk. Private limited company and its conversion into public company. Rights and liabilities of partners in the absence of partnership agreement. Kinds of partners. Mutual duties. The position of a minor in partnership. what is dissolution of a partnership firm. Distinction between joint stock company and partnership. Advantages and Disadvantages of sole tradership. Qualities of a successful businessman. Main points of difference between sole proprietorship and partnership Company form of Organization What is a joint stock company?. Problems before establishing a new business. Divisions of business or components of business. Classification of Companies. Forms of business partnership under Islamic laws. Ideal form of business organization. Salient features or characteristics of partnership. Functions of a modern business. Faisalabad[Type text] Page 6 . Partnership distinguished from co-ownership. Main social responsibilities of of business to society. Importance of business in the present day world. Requisites of an ideal partnership. Forms of partnership. Private limited company. Advantages and disadvantages of a company form of organization. Private limited company and public company Promotion and Formation of a Joint Stock Company GC University. Merits and demerits of partnership form of organization. registration of a firm. Sole Proprietorship Sole proprietorship and its characteristics.Scheme of Studies of B Com Distance Education Course Code Marks = 100 COM-D303 FUNDAMENTALS OF BUSINESS Pre-Requisite NONE Semester I Objectives To enhance students to full range of functions of business organization OUTLINE Nature and Scope of Business Concepts of Business. its nature and scope. Reconstitution of partnership or admission and withdrawal of partners in a firm. Main features of partnership. Objectives of Business. Role of profit in business. Difference between a business and a profession. Chief features of company form of organization. Business organization. One man control is the best in the world. Preference of sole proprietorship over other forms of business organizations Partnership Partnership and its characteristics. Partnership Agreement/Deed. Marketing What is Marketing?. Introduction to Business.Scheme of Studies of B Com Distance Education Company promoters and their functions. Types of Cooperative Societies. Functions of Stock Exchange Recommended Book: 1. Formation of a public company. Advantages and Disadvantages of business Combination. Functions of Marketing. Classification of Markets. Liquidation or Winding up of a Joint Stock Company What is winding up or liquidation of a company? Cooperative Societies Cooperative and its Characteristics. Basic legal documents issued by a company. Stock Exchange Stock Exchange and its main Features. Advantages and Disadvantages of Cooperatives. Marketing Mix. Business Combination What is Business Combination. Faisalabad[Type text] Page 7 . A statement in lieu of prospectus. Salient points of distinction between memorandum of association and articles of association. Types of Business Combination. Muhammad Saeed Nasir. Imtiaz Book Depot GC University. Levels of data Processing. Types of operating system. Operating system. Difference between DOS and Windows Computer Networks and Data Communication Computer Network. Windows XP Understanding MS Word Microsoft Word and its Features. Formulas in Excel Microsoft PowerPoint Microsoft PowerPoint and its Features GC University. Use of MS Word for office work. Types of Computer networks. Memory. Types of Computer. Storage Devices Computer Software &Languages Software. Difference between software and hardware. History of Computer. Benefits of MS word for Students Understand MS Excel Microsoft Excel and its Features. Characteristics of Computer. Uses of Computer. Input device. Output devices. Components of Computer. Basic units of data storage. Data processing Life Cycle. Data Processing. Difference between input and output devices. Generation of Computer. Faisalabad[Type text] Page 8 . Network topologies Data Processing Data. CPU. Classification of Computer Computer Hardware Hardware. Programming Languages. Electronic Data Processing in Business Windows Operating System Windows operating System.Scheme of Studies of B Com Distance Education Course Code Marks = 100 COM-D305 COMPUTER APPLICATION IN BUSINESS Pre-Requisite NONE Semester I OUTLINE Introduction to Computers Computer. Information. Benefits of internet for business organization Recommended Book: 1. Advantages and Disadvantages of internet. Computer Application in Business. Faisalabad[Type text] Page 9 . Benefits of Internet for Students. Imran Saeed.Scheme of Studies of B Com Distance Education Internet and Email Internet. Ahsan Raza. Tariq Mahmood. Kitab Markaz Faisalabad GC University. Basic Terminologies of Internet. Tasleem Mustafa. total. GC University. curves. Faisalabad[Type text] Page 10 . Consumer’s surplus. Description analysis and policy. Supply. Law of substitution: Indifference curve. Factors of production. Consumer’s equilibrium with indifference curves pric and income effect. Diminishing marginal utility. Elasticity of demand and its measurement income and cross elasticity. Economic methodology Consumption: Definition and meaning. costs over the period. Nature. its meaning accumulation of capital.Scheme of Studies of B Com Distance Education Course Code MICRO ECONOMICS Marks = 100 COM-D307 Pre-Requisite NONE Semester I Objectives To educate the students in basic principles of Microeconomics To make students understand the working of the market economy To enable students understand the optimal resource allocation concepts To make students practice these concepts of Microeconomics in their personal and professional life OUTLINE Introduction: Definition. land. average and marginal. Costs of Production: Fixed. Scope and importance of economics. labour and its mobility. capital. productivity of capital. entrepreneur. Production: Law of variable proportion. Elasticity of supply. functions of entrepreneur. Market equilibrium analysis. derivation of short and long run cost curves. changes in supply. Demand and Supply: Definition and meaning. variable. GC University. Interest and profit. Faisalabad[Type text] Page 11 . Market price determination under perfect competition. duopoly (basic concept). oligopoly. Recommended Book: 1. Wages.Scheme of Studies of B Com Distance Education Market: Perfect and imperfect competition. demand and supply relationship. Factor Pricing: Rent. monopoly and monopolistic competition. Faisalabad[Type text] Page 12 .Scheme of Studies of B Com Distance Education Course Code Marks = 100 ENG-D321 Functional English Pre-Requisite NONE Semester I OUTLINE ¾ Introducing ourselves ¾ Describing things ¾ Getting and giving information ¾ Recounting past events ¾ Talking about facts and opinions ¾ Agreeing and disagreeing ¾ Compare and Contrast ¾ Cause and effect ¾ Using your imagination ¾ Reporting ¾ Writing Essays ¾ Presentation skills ¾ Assessment Recommended Book: 1. English for Academic Purposes (EAP) by HEC Course Code ISLAMIC STUDIES Marks = 50 ISL-D302 Pre-Requisite NONE Semester I GC University. Faisalabad[Type text] Page 13 .Scheme of Studies of B Com Distance Education GC University. Faisalabad[Type text] Page 14 .Scheme of Studies of B Com Distance Education GC University. Faisalabad[Type text] Page 15 .Scheme of Studies of B Com Distance Education GC University. Faisalabad[Type text] Page 16 .Scheme of Studies of B Com Distance Education GC University. Faisalabad[Type text] Page 17 .Scheme of Studies of B Com Distance Education GC University. 1969 • The Securities and Exchange Rules. a. The changing organisation and structure of banking’s principal competitors. Investment Banks The Securities and Exchange Commission of Pakistan • The Securities and Exchange Commission of Pakistan Act. • Saving banks. • Micro finance institutions. Specialized Credit Institutes IDBP.Scheme of Studies of B Com Distance Education Course Code Financial & Regulatory Institutions Marks = 100 COM-D302 Pre-Requisite NONE Semester II Outlines An Overview of Banks and the Financial Services Sector What is a bank? The financial system and competing financial services institutions. Prudential regulations • Commercial Banks. SME BANK. • State bank of Pakistan. • Cooperative credit societies. Faisalabad[Type text] Page 18 . b. HBFC. Efficiency and size: Do bigger financial firms operate at lower cost. The state bank of Pakistan as Central Bank. Organisation of Money Market in Pakistan • Money market structure. Are traditional banks deed? The organisation and structure of banking and the financial services industry The organisation and structure of the commercial banking industry. Services banks and many of their closest competitors offer the public. Banking and financial firm goals: their impact on operating cost. The array of corporate organisational structures in banking. Two alternative types of banking organisations available as the 21st century opened. 1971 GC University. Key trend affecting banks and other financial services firms. • Co-operative Banks. SBP banking services corporations. efficiency and performance. 1997 • The Securities and Exchange Ordinance. GC University. Practice and Law of Banking in Pakistan. Asrar (7th edition). LSE. XVII of 2002 (Chapter 1 – 7) • Chapter 1 General • Chapter 2 Establishment of OGRA • Chapter 3 Policy Guidelines • Chapter 4 Licenses • Chapter 5 Offences • Chapter 6 Miscellaneous • Chapter 7 Repeal & Savings National Electric Power Regulatory Authority NEPRA ACT (ACT No. H. 1971 • The credit rating companies rules. 1983 • Chapter 1 Preliminary • Chapter 2 Undue concentration of economic o power etc prohibited • Chapter 3 Monopoly Control Authority • Chapter 4 Functions & Powers of the authority • Chapter 5 Registration • Chapter 6 Penalties & Appeals Stock Exchanges • Working. Royal Book Company Karachi.Scheme of Studies of B Com Distance Education • The investment companies and investment advisers rules.ORDINANCE NO. XL of 1997) • Chapter 1 General • Chapter 2 Establishment of Authority • Chapter 3 Licenses • Chapter 4 Administration Monopoly Control Authority • MONOPOLIES AND RESTRICTIVE TRADE PRACTICES (CONTROL AND PREVENTION) ORDINANCE. 1995 Framework of International Accounting Standard(IAS). 1970) (As amended up to 30th June. 1970 -------. ISE Recommended Text: 1. services and regulations of Karachi Stock Exchange. 1995 • The asset management companies rules. IFRS Oil & Gas Regulatory Authority Ordinance No. Siddiqui. V OF 1970 (26th February. Faisalabad[Type text] Page 19 . Faisalabad[Type text] Page 20 . McGraw Hill International. 3.Scheme of Studies of B Com Distance Education 2. XL of 1997) 5. Regulatory institutions/ web site http://www.secp.org. 1970) 6.pk/ GC University. Petert.Ordinance No. 1970) ----.kse. Oil & Gas Regulatory Authority..gov. Monopolies & Restrictive Trade Practices (ORDINANCE.pk/ http://www.ORDINANCE NO.pk/ http://www.pk/ http://www. Hudgins C Sylvia (6th edition). NEPRA ACT (ACT No.org. National Electric Power Regulatory Authority. Rose S.sbp.nepra. XVII of 2002 4.com. Bank Management & Financial Services. V OF 1970 (26th February. Simple Correlation and Regression. Note: At least two questions from each part will have to be answered. Classification and Tabulation. Stafford. Subtraction and Multiplication of Matrices. Nasir Ali Syed. Measures of Central Values. Prentice Hall Inc. L. simple and compound interest and annuities. Arithmetic & Geometric and their application in Business. Zulfqar Ahmad Bowra. when & Way. Fair Publication. Definition. Business Statistics and Mathematics. sequence Series and Progression. and G.I1. & Publication. 6. 5. Inverse of a matrix. Probability. 2. Chi-Square. Solution of quadratic equation. Lines of Regression.Scheme of Studies of B Com Distance Education Course Code Business Statistics & Mathematics Marks = 100 COM-D304 Pre-Requisite NONE Semester II Outlines STATISTICS 1. Application in Business. Method of least square and curve fitting with application to Business. Skewness. Mathematics for Finance. GC University. Independent and Dependent events. Statistical Package for Social Sciences MATHEMATICS Solution of simultaneous equation. Application in Business and Commerce. Business Statistics. Recommended Books: 1. Expansion of Determinants. Tests of significance: Introduction. Business Mathematic for Management and Finance. Index Numbers: Kinds of index numbers with special emphasis to consumer price index numbers. Metrics and determinants: Addition. Illinois 4. 3. Gill.W. Statistical Enquiries. 2. Richard Lacava. Set theory. Tests for means and proportions for single and two populations. Diagrams and Graphs. Syed Hassan Mirza. Business Statistics. 4. Laws of Probability. Conditional probability. Irvan. Statistics & Business Mathematics. Faisalabad[Type text] Page 21 . Use of matrix in the solution of system of linear equations. Business Mathematics 3. Measures of Dispersion. Sampling. Definition. Lahore. Lavin. Frank S. Inc. Allyn and Bacon. John Hegarty "Calculus for Management and Social Sciences".Scheme of Studies of B Com Distance Education 7. USA GC University. Bundwick "Applied Mathematics for Business. Boston (USA). Company. Faisalabad[Type text] Page 22 . 8. New York. stock dividends. stock splits. prepareand present financial statements of companies. royalties. Companies‘ formation. understand the procedures to be followed in formation of companies. identify and explain reasons for profit appropriation. ¾ Sources of retained earnings. prepare receipts and payments accounts and financial statements of non-profit organizations. ¾ Valuation of goodwill and shares. according to local laws and International Accounting Standards. Faisalabad[Type text] Page 23 . Account for purchased stock warrants. with appropriate notes. right issue of shares. Basic EPS ¾ Adjust the weighted average number of common shares for stock dividends. ¾ Use of treasury stock method ¾ IAS-33 Earnings per Share Long term liabilities ¾ Identify the methods for the presentation and analysis of long-term liabilities. ¾ Accounting for the cash dividends.Scheme of Studies of B Com Distance Education Course Code FINANCIAL ACCOUNTING Marks= 100 COM-D306 Pre-Requisite Principles of Accounting Semester II Students should be able to: prepare accounts and financial statements of joint venture. explain potential matters that should be considered. ¾ EPS. while making a regulatory framework for published accounts. treasury stock. recording of issue of shares ¾ Stock splits. ¾ Liquidation of joint stock companies. branches & departmental types of businesses. ¾ Describe the formal procedures associated with issuing long-term debt. f h i i ki OUTLINE Corporation. ¾ Identify various types of bond issues. describe the role of the International Accounting standards. concept and types reserves. identify and explain reasons why any loss/gain is debited or credited to retained earnings. retained earnings appropriation to dividends and reserves. preparefinancial statements from incomplete records. GC University. partnership. identify and explain accounting treatment of expenses Objectives incurred during the course of formation of a company. ¾ Describe the accounting for the extinguishment of debt. ¾ Explain the reporting of off-balance-sheet financing arrangements. record maintenance. ¾ Apply the methods of bond discount and premium amortization. The Information System: An Accountant perceptive ¾ Primary information flows within the business environment ¾ Accounting information systems and management information systems ¾ The general model for information systems ¾ Financial transactions from non-financial transactions ¾ The functional areas of a business ¾ Two main stages in the evolution of information systems ¾ Three roles of accountants in an information system. and financial reporting Conversion cycle ¾ Elements and procedures of a traditional production process ¾ Data flows and procedures in a traditional cost accounting system GC University. of payroll and fixed asset activities and the flow of transactions through the organization ¾ Documents. regardless of the technology used ¾ Functional departments in the revenue cycle and the flow of revenue transactions through the organization ¾ Documents. promote the maintenance of records. Introduction of Transaction Processing ¾ Broad objectives of transaction cycles ¾ Types of transactions processed by each of the three transaction cycles ¾ The basic accounting records used in TPS The Revenue cycle ¾ Tasks performed in the revenue cycle. journals.II Payroll processing and fixed asset procedures ¾ Fundamental tasks of payroll and fixed asset processes ¾ Functional depts. Faisalabad[Type text] Page 24 . and accounts that provide audit trails.Scheme of Studies of B Com Distance Education ¾ Describe the accounting valuation for bonds at date of issuance. ¾ Indicate how to present and analyze long-term debt. and financial reporting The Expenditure cycle Part. decision making. decision making. records. journals. ¾ Explain the accounting for long-term notes payable. ¾ Fundamental tasks performed during purchases and cash disbursement processes ¾ Functional areas involved in purchases and cash disbursements and the flow of these transactions through the organization ¾ Documents. and support decision making and financial reporting The Expenditure cycle Part.I Purchase and cash disbursement procedure. and accounts needed for audit trails. and accounts needed for audit trails. journals. Accounting Information System.. 7.P. Meigs. Marshall B. Thomson South-Western. operating features. Financial Accounting. 11th edition. Recommended Texts: 1. McGraw Hill Irwin. Financial Accountingǁ. & Meigs. ¾ Peachtree Complete accounting software 2006.D.class environment Coding schemes Features. 3. J. 2. E. James. ICAP (2005). J. D.. Peachtree Complete Accounting Software. accounting ¾ How to design a chart of Account? Its types along with practical examples. Paul J. 8.. Module-C. FRS. 5.Scheme of Studies of B Com Distance Education ¾ Accounting controls in a traditional environment ¾ Principles. Larson. International Financial Reporting Standards (IFRSs). ( 2006). 11th edition McGraw Hill. (2005). K. International Accounting Standards Committee Foundation (IASCF) (2005). ―Financial Accountingǁ. Robert (2003).. (2009). Accounting Information System. (2009). Accounting: the basis of Business decisionsǁ. Walter. London United Kingdom. B. Wild. & Chiappetta. B. 6. and MRS ¾ Principle operational controls governing the GLS and FRS ¾ Factors that influence the design of the MRS ¾ Elements of a responsibility accounting system Computerized Accounting System ¾ Elementary discussion on manual & E. Faisalabad[Type text] Page 25 . Weygandt. 6th edition. 6th Edition Wiley higher education. advantages. and disadvantages of various coding schemes ¾ Operational features of the GLS. PBP professional education. Charles. Prentice Hall. SAGE software. Kieso.. Hall A. Romney. Steinbart. 18th edition. SAGE software. GC University. and Warfield (2008). F. and technologies of lean manufacturing ¾ Shortcomings of traditional accounting methods in the world. 4. Johnson. Employment. Money and foreign OUTLINE Introduction: ¾ Scope of Macro Economics ¾ Problems of Macro Economics National Income: ¾ Definition ¾ Gross National Product (GNP) ¾ Measurement of GNP by Aggregate Expenditure Method ¾ Measurement of GNP with Income Approach ¾ Net National Product (NNP) ¾ National Income (NI) ¾ Personal Income (PI) ¾ Circular Flow of National Income ¾ Measurement of Price Level ¾ Nominal and Real GNP Classical Theory of Income and Employment: ¾ Introduction ¾ J. Inflation. B. Say’s Law of Markets ¾ The Quantity Theory of Money Keynesian Theory of Income and Employment ¾ Introduction ¾ Salient Features of Keynes Theory of Income and Employment ¾ Determination of Equilibrium Level of Income and Employment in Two-Sector Economy ¾ Determination of Equilibrium of NI in Three-Sector Economy ¾ Keynes Equilibrium in Monetary Sector ¾ Keynes Propensity to Consume or Consumption Function ¾ Keynes Psychological Law of Consumption ¾ Effect of Change in Investment on Equilibrium Level of NI and Investment Multiplier ¾ Inflationary and Deflationary Gaps ¾ Determinants of Investment ¾ Marginal Efficiency of Capital (MEC) GC University.Scheme of Studies of B Com Distance Education Course Code MACRO ECONOMICS Marks = 100 COM-D308 Pre-Requisite NONE Semester II To educate the students in basic principles of Macroeconomics To make students understand the working of the policy initiatives Objectives in the market economy To enable students understand the aggregate concepts of national Income. Faisalabad[Type text] Page 26 . Economics. Prentice Hall. Latest edition. Principles of Economics II. Gregory Mankiw 5th Edition. Ilmi Kitab Khana. GC University.Scheme of Studies of B Com Distance Education National Income Fluctuations: ¾ The Acceleration Principle ¾ Business Cycles ¾ Phases of Trade Cycle ¾ Properties of Trade Cycle ¾ Samuleson’s Multiplier – Acceleration Interaction Model of Trade Cycle ¾ Theory of Inflation Fiscal and Monetary Policies ¾ Fiscal Policy ¾ Instruments of Fiscal Policy ¾ Objectives of Fiscal Policy ¾ Role of Fiscal Policy in Trade Cycles ¾ Monetary policy ¾ Instruments of Monetary Policy ¾ Objectives of Monetary Policy ¾ Role of Monetary Policy in NI Determination International Trade ¾ Adam Smith’s Theory of Absolute Advantage ¾ Theory of Comparative Advantage (or Comparative Costs By David Ricardo) ¾ Modern History of International Trade or Hecksxher – Ohlin (H-O) Theory of International Trade ¾ Balance of Payment (BOP) Recommended Books: 1. Faisalabad[Type text] Page 27 . 2nd Edition. The Theory of Macro Economic Policy. Paul A Sameulson. A. 2.Hamid Shahid. Nancy Smith Barrett. Macro Economics by N. 3. clarity. THE PROCESS OF BUSINESS COMMUNICATION • Elements of communication. inquiries • claims and requests for adjustments.Scheme of Studies of B Com Distance Education Course Code Business Communication and Report Writing Marks = 100 ENG-D322 Pre-Requisite NONE Semester II OUTLINE EFFECTIVE COMMUNICATION IN BUSINESS: • Definition. invitations. • Purpose of persuasive speaking. • preparation before writing reports. market research. correctness. EFFECTIVE COMMUNICATION PRINCIPLES: • Through styles:completeness. BUSINESS REPORT: • Meaning and classification of business reports. GC University. sales letter. • different kinds of communication and features of communication. conciseness. informational and analytical report. Successful informative speaking. main parts of the report. characteristics. composition of the message. presentation of the formal report. • favourable replies. • requests regarding routine business or public causes. visual aids. • Non verbal Communication. reservations. prefatory parts: documentation and other notes. • process of preparing effective business messages. evaluating your achievements. • improving your listening. presentations and follow-up or feedback. • supplemental parts. • request. making preliminary career decisions. • formal report. manners: courtesy. process • importance of communication in business. • purpose of informative speaking. improving oral presentations. working plans. BUSINESS LETTER: • Direct request. ORAL PRESENTATION AND USE OF MODERN ELECTRONIC GADGETS: • Oral presentations and successful listening. informational memorandum reports. communication concepts.suggestions for short report. unsolicited favourable messages. successful persuasive speaking. beginnings and endings. planning steps. organisation of the persuasive speeches. basic organisational plans. • analytical memorandum reports with graphs. • Organisation and outline of the informative speech. Analysis of audience. resume. Faisalabad[Type text] Page 28 . • organisation and outline of report body. Audience analysis. gestures: considerations. job application letter. Successful business meetings. Support for informative speeches. orders. concreteness. • short reports. Methods of solving problems in meetings.Scheme of Studies of B Com Distance Education • Meetings in business leadership responsibilities. Participant responsibilities. Recommended Books: 1. Murphy. Communication for Business by Shirley Taylor. Effective Business Communication by Herta A. Faisalabad[Type text] Page 29 . Pitman publishing London. GC University. McGraw Hill Company 2. issues arising in the modern age and posing challenges to Pakistan OUTLINE Historical Perspective ¾ Ideological rationale with special reference to Sir Syed Ahmed Khan. Burki. Akbar. 2. State & Society in Pakistan. Karachi: Oxford University Press. Allama Muhammad Iqbal and Quaid-i-Azam Muhammad Ali Jinnah. The Macmillan Press Ltd. Faisalabad[Type text] Page 30 . national development.Scheme of Studies of B Com Distance Education Course Code PAKISTAN STUDIES Marks = 50 PST-D322 Pre-Requisite NONE Semester II Develop vision of historical perspective. ideological background of Pakistan.contemporary Pakistan. Issue in Pakistan’s Economy. politics. Shahid Javed (1980). (2000). GC University. S. Objectives Study the processof governance. government. Government and Politics in Pakistan Political and constitutional phases: ¾ 1947-58 ¾ 1958-71 ¾ 1971-77 ¾ 1977-88 ¾ 1988-99 ¾ 1999 onward Contemporary Pakistan ¾ Economic institutions and issues ¾ Society and social structure ¾ Ethnicity ¾ Foreign policy of Pakistan and challenges ¾ Futuristic outlook of Pakistan Books Recommended 1. Zaidi. ¾ Factors leading to Muslim separatism ¾ People and Land • Indus Civilization • Muslim Advent • Location and geo-physical features. 9. II & III. Tahir. Wilcox. nd. Institute of Public Policy Research. Afzal. N. Wayne.Scheme of Studies of B Com Distance Education 3. Washington: American Enterprise. Muhammad Waseem. 13. Pakistan Kayyun Toota. Khalid Bin. (1980). Islamabad: Institute of Policy Studies.K. (1972). 7. Haq. Faisalabad[Type text] Page 31 . Politics in Pakistan Islamabad: National Commission on Historical and Cultural Research. Ethno . Boston: Houghton Mifflin. Amin. Party. 4. Pakistan Under Martial Law.e-Islamia. Club Road. (1980). (1993). Safdars. Making of Pakistan: The Military Perspective. 8. M. Mehmood. Lawrence. Enigma of Political Development. Ziring. 1987. Political Parties in Pakistan. (1976). Lahore: Idara-e-Saqafat. Islamabad. U.National Movement in Pakistan. Mehmood. Burke and Lawrence Ziring (1993). Karachi: Oxford University Press. The Political System of Pakistan. Rafique. (1967). Islamabad: National Commission on Historical and Cultural Research. 10. History & Culture of Sindh. Karachi: Royal Book Company. 5. Lahore. GC University. Kent England: WmDawson & sons Ltd. 12. K. Safdar (1994). Lahore: Vanguard. S. M. Zahid. (1998). Ansar. Aziz. The Emergence of Banglades. Sayeed. I. Islamabad: National Institute of Historical and cultural Research. Pakistan Political Roots & Development. Pakistan‘s Foreign policy: An Historical analysis. 11. 6. Vol. Industrial Policy ¾ Minerals and Mining ¾ Energy Resources ¾ Transport: Issues . Environmental pollution and Human Health. Ministry of Finance. Hussain. Higher Education ¾ Health: Issues in Health Sector. Economic Survey of Pakistan. Classification of Imports and Exports. Vocational and Technical. Farms to Market Roads ¾ Communication ¾ Education and Skill Development Issues. SME and Cottage Industry. Basic Education. Husain Akmal. Food security. Price Support Policy. Karachi. Non-Farm employment Opportunities. OUTLINE ¾ Agriculture: Issues. Ishrat. Rectification of BOP ¾ WTO and Pakistan ¾ SAFTA and Regional Cooperation ¾ Federal Budget and Fiscal Policy ¾ Role of Direct Foreign Investment in Economic Growth of Pakistan ¾ Public Debt (External) and Debt Management Strategies of Pakistan ¾ Monetary Policy and Inflation Recommended Books: 1. Forest and Water Management. measurement and alleviation strategies. Oxford University Press. Public-Private partnership. Faisalabad[Type text] Page 32 . Railways. HDI (Human Development Index) ¾ Foreign Trade and Balance of payments: Exports.Scheme of Studies of B Com Distance Education Course Code ECONOMIC ISSUES OF PAKISTAN Marks = 100 COM-D401 Pre-Requisite NONE Semester III To enable the students the understand and comprehend the real life issues of the Economy of Pakistan To enable the students to have an understandings of the policies of The Government of Pakistan. Direction of Trade. 2. Government of Pakistan. Productivity of Land. Islamabad. Roads. GC University. Large Scale. Sea.Air. Terms of trade. and the State Bank of Pakistan Objectives To enable the students to go through the data available in the latest Economic Survey of Pakistan and the federal government‘s Budget documents and to relate it to the economic and social indicators of industrially Developed Economies and the SAARC countries. Imports. ¾ Housing : Issues and Remedies ¾ Poverty : Definitions. Export Industry vs. 3. Pakistan: The Economy of an Elitist State. Import Substitution. Agricultural Inputs and their impact on Cost of Production ¾ Industry: Issues. Pro-Poor Growth and Governance in South Asian Economies. Amratia. 8. Kardar. Oxford University Press. Islamabad. Issues in Pakistan’s economy. Government of Pakistan. Oxford University Press. Lahore. State Bank of Pakistan Publications. Karachi. Washington DC. Reports of Statistical Division of Pakistan. Poverty and Famine. Political Economy of Pakistan. Faisalabad[Type text] Page 33 . Akbar. Nasim Anjum.Scheme of Studies of B Com Distance Education 4. 6. GC University. 5. Zaidi. Progressive Publishers. Karachi. Lahore. Poverty Alleviation Strategies of Government of Pakistan. 7. LUMS. McMillan Publications 10. Government o f Pakistan. Financing the Development Priorities of Pakistan in 1990’s. Islamabad. Yearly World bank Reports (2000-onwards). 11. 9. Reports of State Bank of Pakistan. Shahid. Sen. ¾ Departmental accounts when separate set of books are maintained and when all departments are kept together. It involves preparation of financial statements for group of undertakings. allowances for bad debts. Fourth Schedule. reserves. excise duty and sales tax. for publication in Objectives accordance with International Financial Reporting Standards (IFRS) To deal with accounting issues of amalgamation. OUTLINE Preparation of final accounts under Companies Ordinance 1984 ¾ Companies Ordinance 1984. absorption and reconstruction. goodwill. debentures and mid year acquisitions.Scheme of Studies of B Com Distance Education Course Code ADVANCED ACCOUNTING-I Marks = 100 COM-D403 Pre-Requisite Financial Accounting Semester III Preparation of financial statements of companies in accordance with statutory requirements of Companies Act and International Accounting Standards (IAS) To deal with business combinations of two or more business entities. prefereance shares. market based transfer price. Business Combinations ¾ Amalgamation. ¾ Inter departmental transfers. Profit and loss appropriation account ¾ Balance Sheet and treatment of certain items in preparing Companies Financial Statements like dividends. ¾ Prepare Consolidated Income Statement and Balance Sheet of undertakings. bank margins and guarantees. IAS27. worker‘s welfare fund. ¾ Treatment in Consolidated Financial Statements of Minority interest. Branch Accounting GC University. Faisalabad[Type text] Page 34 . dividends. ¾ Allocation of departmental expenses. Application and selection of accounting techniques and procedures to specific circumstances like leases. ¾ General. Pre and Post acquisition reserves. issue of shares. Trading Account. Absorption and Reconstruction Departmental Accounting ¾ Advantages of departmental accounts. bonus shares. long term loans and current maturity. Profit and loss Account. rectification of errors. workers profit participation fund. Consolidated Financial Statements. intra group transactions. Cost based transfer price. London United Kingdom. Javed H. whole sale and retail profit at branch. ¾ Accounting for finance lease in the books of lessor and lessee including financial statement disclosures. Volume I-II. Stock and Debtor system.Scheme of Studies of B Com Distance Education ¾ Types of Branches. 3. ¾ Final account system. (2009). Sultan Chand & Sons 4. initial direct costs. M. Petiwala Book Depot.cost to cost method ¾ Accounting entries and financial statement disclosures ¾ Work certified and uncertified Recommended Texts: 1. R. Debtor System.C & Grewal. Joint Venture and consignment ¾ Features of a Joint Venture. S . Modern Accountancy. Accounting for Construction Contracts and IAS-11 ¾ Basic concepts and rules ¾ Contract revenues and costs ¾ Profit and loss recognition ¾ Percentage completion method. & Swamy. Accounting for Leases IAS-17 ¾ Basic lease accounting issues and procedures. 15th Edition. Mukherjee A. Accounting for operating lease. ―Advanced Accounting”. T. Advanced Accounting. abnormal and normal losses ¾ Valuation of unsold stock. ¾ Bargain purchase option. International Accounting Standards Committee Foundation (2005). Radha. ―Advanced Accounts” Volume 1 and 2. ¾ Cost price method and invoice price method ¾ Advance made by consignee. Sultan Chand & Sons. Faisalabad[Type text] Page 35 . Shukla M.L. methods of maintaining accounts. International Financial Reporting Standards (IFRSs). Gupta. ¾ Sale of goods above and below invoice price. 2. depreciation. GC University. residual value (guaranteed and un guaranteed). 2nd Edition. Zuberi. Hanif. the need and usefulness of an audit. recurring audit. GC University. profit and loss account. Faisalabad[Type text] Page 36 . management representation. acceptance of and amendments in engagement letter. 330): Terms of audit engagement. responsibility for financial statements. Review of the client‘s business and accounting requirements. techniques of commencement of audit work. preceding year‘s financial statements. client generated information.off procedure. Audit Planning and Control (ISA 300. changes in audit plan during the course of an audit. audit timetable. sampling techniques. Audit Procedures and Techniques (ISA 210. Definition of audit technique. substantive testing. documentation of audit plan. scrutiny of trading. distinction between accounting and auditing. professional ethics. preparation of audit plans. rights. resignation. true and fair view.. audit planning memorandum. procedure for appointment of first and subsequent auditors under Companies Ordinance. remuneration. procedures affecting audit work. supervision and review of audit work. international auditing standards and guidelines. 1984. 320): Concept of audit planning. analytical review. controlling.Scheme of Studies of B Com Distance Education Course Code AUDITING Marks = 100 COM-D405 Pre-Requisite Principles of Accounting Semester III Comprehend and Interpret Audit Reports of any organization Start career as Auditor at initial level Objectives Start higher professional studies. kinds of audit techniques. statements of standard accounting and auditing practices and technical releases issued by local professional institute of Pakistan. benefits and factors of audit planning. objective and principles of an audit. definition. engagement letter and its contents. kinds of an audit. vouching and verification of assets and liabilities. 315. cut. concepts of reasonable assurance. provision related to appointment of auditor by a listed company and appointment of sole proprietor chartered accountants as auditors by business name. powers. removal. monitoring time and costs. role of auditor as detector of fraud. systems and procedures. qualifications and dis-qualifications etc. of auditor. scope. Assess the risk of material misstatements Assess the strengths and weaknesses of internal control OUTLINE Nature and Purpose of Auditing: Nature. audit risk and materiality. Legal and Professional Considerations: Appointment. direction. determining the audit risk and materiality level. preparation of detailed audit programmes. duties and liabilities. planning procedure overall audit strategy. compliance techniques. 706. audit working papers. 700. reliance on other auditors. risk management. use of assertion in obtaining audit evidence. responsibilities of internal auditor. inventory system. 300. materiality assessment. Faisalabad[Type text] Page 37 . contents of working papers. issuance of management letter. Internal Audit: Scope and limitations and types of internal audit. contingent liabilities and commitments. categories of internal control. functions of chief GC University. confirmation from third party. Internal Controls: Definition. 240. Audit Evidence and Documentation (ISA 500. liquidity risk. meaning objectives. re performance. statement of compliance. dating and signatories of the auditors‘ report. management risk. and analytical procedure. observation inquiry. Understanding the Risk: Definition of risk. 505. audit files. operational risk. 230): Concept of audit evidence. special purpose reports. events occurring up to the date of audit report. nature and types of working papers. 320. their contents and qualifications. principles and techniques of internal control. ownership and retention of working papers. audit procedure for obtaining audit evidence. Performance of Audit: Assessment of audit risk. difference between internal check and internal control. conclusions drawn and action taken. reports on accounts of association of persons and sole traders. market risk. types. forms of qualifications. letter to management. 330. relationship between internal and external audit. Applicable Auditing Standards ISA 200. impact of internal controls and audit work. summary record of errors. points carried to next period. cash system. limitations on the effectiveness of internal control/audit. credit risk. internal audit and corporate governance. internal audit assignments. substantive procedure. evaluation of internal controls and accounting systems. 230. recalculation. 705. capital and expenditure. 315. internal control in an EDP environment. systems of internal control.Scheme of Studies of B Com Distance Education use of computer assisted audit techniques (CAATs). reliance on experts. analytical procedure. 500. payroll system. review of audit work and company‘s financial statements. letter of representation. reputation risk. sales system. requisites of code of corporate governance. The Reporting of Audit: Audit reports. audits sampling. audit notebook. 210. board and senior management oversight. tests of controls: purchase system. events after reporting period. outsourcing the internal audit function. Completion of an Audit: Completion procedures. other information in report containing audited financial statements. key components and important elements of internal control. compliance /legal or regulatory risk. controls in small entities. recording of significant points. Need for documentation of work done. inspection of records and tangible assets. GC University. Butter worth & Co. Spicer. Tata McGraw Hills. reporting by internal auditors. Ltd. 5. Contemporary Auditing. Professional Business Publication. Cengage Learning EMEA. Lahore. Faisalabad[Type text] Page 38 . Dehli. Pegler (2010). (2002). difference between internal audit and external audit. H. Millichamp A. Gupta. Scheme of Studies of B Com Distance Education internal auditor. 3. Auditing. (2005). Recommended Book: 1. 6th Edition. CA Examination Study Text. Auditing. Kamal. reliance of external auditor on internal auditor‘ report. Journal of Management Accounting. 2. ICAP 4. Practical Auditing. 15th Edition. Advantages and Disadvantages ¾ Partnership. ¾ Risk & Insurance. ¾ Business Combination. Importance. Role and Significance. Classification. Enterpreneminal qualities of Businessman. Kinds and Sources ¾ Long Term and Short Term Financing. ¾ Marketing Mix for Physical Goods and Service Products. COOPERATIVE OWNERSHIP AND BUSINESS COMBINATIONS ¾ Types of Cooperatives. ¾ Stock Exchange and Commodity Exchange. FORMS OF BUSINESS ORGANIZATION ¾ Sole proprietorships Nature. Articles of Association. ¾ Joint Stock Company. Types of Risks. Prospectus. ¾ Business environment and social responsibility. Nature. Advantages and Disadvantages. Importance and Types of Insurance. Protection against Risks. Functions and Scope Approaches to the Study of Marketing. Meaning. ¾ Role of business in economic progress of the country ¾ Problems of business. Types and Forms causes and purposes. Advantages and Disadvantages. Meetings and Winding up Features. Importance and Functions. GC University. FINANCE ¾ Definition. Duties and Liabilities of Partners. Advantages and Disadvantages. MARKETING ¾ Process of Marketing. Rights. Faisalabad[Type text] Page 39 . ¾ Some Important Financial Institutions. Types Chartered Statuary and Registered Formation Memorandum of Association. Management of the Companies. Definition. Components. Capital Management. Merits and Demerits. dissolutions of partnership. Importance.Scheme of Studies of B Com Distance Education Course Code INTRODUCTION TO FINANCE Marks = 100 COM-307 Pre-Requisite NONE Semester III To enhance students to full range of functions of business Objectives organization OUTLINE BUSINESS ¾ SCOPE. Organization of Purchasing Department. (1994). Introduction to Business GC University. Muhammad Irshad. Decentralize Purchasing. Modern Business Administration 6th edition. Karachi 7. Imports and Exports. Meaning. Shoukat Ali.. Ali M. PHYSICAL FACTORS ¾ Selecting Business Location. Public Relationing. Faisalabad[Type text] Page 40 . Aberle. Reference Books 1. Introduction to Business & Co Lahore. Pay Scales. Functions. Askari Zaidi. H. Analysis & Job Classification. Recovering. Importance. Purchasing Policies and Procedure Inventory Control. Khalid Mehmood Cheema and Syed Mobin Mahmood. THE PERSONEL DEPARTMENT ¾ Employment Division. Orient Publishers. ¾ Wages and Salary Section. Sales Promotion. Packaging. Sielaff & Belmont. ¾ Foreign Trade. ¾ Marketing Communication and Promotion. Small Business. Fundamentals of Business. Theodre J. 5. Rober C. Advertising. 6. 4. TRADE ¾ Wholesale and Retail. Introduction to Business 3. Personal Selling. VS Large Business ¾ Purchasing and Inventory Control Coordination of Purchasing with Sales. Centralize vs. Introduction to Business. Naveed Publication Lahore. California Wordsworth Publishing Company Inc.Scheme of Studies of B Com Distance Education ¾ Channels of Distribution for Consumer Good and Organizational Goods. Advantages and Disadvantages. 2. Role in Economic Development of the Country. Supervisory etc. Appleby. Factors Influencing Locations. Placement Promotion. Apprentice. John W. ¾ Training Program. Introduction to Business. Scheme of Studies of B Com Distance Education Course Code INCOME TAX LAW Marks = 100 COM-D309 Pre-Requisite NONE Semester III Outlines ¾ Introduction and scope of Income Tax Law in Pakistan. ¾ Income chargeability under income tax law on income from business. ¾ Definitions and Terminologies ¾ Exclusions from total income ¾ Reduction in tax liability ¾ Exemption from specific provisions of income tax ordinance 2001 ¾ Distinction between capital and revenue items of expenditures. ¾ Deduction for computing business income. employer’s contribution of approved gratuity fund deduction from income. Scope of salary income. significant changes introduced by the ordinance. ¾ Capital loss ¾ Income from Salary. ¾ Principles of computation of taxable profits. ¾ Calculation of ALV. ¾ Maintenance of accounts on mercantile or cash basis. ¾ Tests for differentiating capital and revenue expenditures. ¾ Bad-debts ¾ Income from property tax on agriculture income. ¾ Types of provident fund. ¾ Considerations governing taxation of business profits. ¾ Non-admissible expense. ¾ Tests for different of capital and revenue receipts. Faisalabad[Type text] Page 41 . gratuity fund and schemes. ¾ Computation of income tax payable from salaried persons ¾ Income from business and profession Terms used. treatment of provident fund. gratuity fund deduction from income. allowable deductions. GC University. the sixth schedule. ¾ Allowances and relieves under the Ordinance. offenses. appeals and prosecutions ¾ Income tax authorities their appointments adducties and the limitation and powers ¾ Income from other sources ¾ Deduction for computing income from other sources ¾ Capital gains ¾ Exchange gain/losses. ¾ Deferred taxation and its treatment ¾ Assessment of individual salaried and non-salaried person ¾ Self-assessment scheme ¾ Introduction and scope of sales tax ¾ Definitions and terminologies ¾ Sales tax authorities ¾ Registration in Sale Tax ¾ Book Keeping and invoicing requirements ¾ Furnishing of Return of Sales Tax GC University.Scheme of Studies of B Com Distance Education ¾ Allowable deduction from income from property ¾ Set-off and carry forward of losses ¾ Types of Losses ¾ Rules for set-off and carry forward ¾ Penalties. income deemed to accure or arise ¾ Tax accountings and assessment cycle. income tax refunds. persons entitled to claim refund in certain case. Faisalabad[Type text] Page 42 . notes for production of books of accounts. ¾ Recovery of arrears/ refunds demand. procedure filling of return ¾ Power to grant extension of time for filling the return. payment of tax before assessment. enhanced tax rates for higher slabs of income. simplification of assessment of procedure. wealth statement. recovery of tax. evidence ¾ Assessment on the basis of return. association of persons and Hindu individuals. assessment procedure. unregistered firms. first schedule rates of income tax for individuals. provisional assessment. changes in tax withholding and collection of tax ¾ Withholding tax rates under section 50(6) collection of tax on demand. penalties. refund and tax credit. Muhammad Muazzam Mughal. of Pakistan. Lahore. 4. R. Luqman Baig. Inconie Tax Law. Income Tax Law with Practical Problems. Govt. Faisalabad[Type text] Page 43 . 3. Accountancy and Taxation Services Institute. Taxation House.. Khawaja Amjad Saeed. Sales Tax.I Naqvi. 6. Muhammad Muazzam Mughal. 7.I. Income Tax: Principles and Practice. Lahore.Scheme of Studies of B Com Distance Education RECOMMENDED BOOKS: 1. Taxation House. Govt. Sales Tax Act. Syed Mobin Mahmud & Co. 8. Income Tax: Problems & Solutions.. R. Lahore. Karachi. Lahore. 2. Sales Tax Law. of Pakistan. 5. Naqvi. Income Tax Ordinance. Syed Mobin Mahmud & Co. GC University. Lahore. ICMAP. risk.Scheme of Studies of B Com Distance Education Course Code ADVANCED ACCOUNTING-II Marks = 100 COM-D402 Pre. To provide information that is useful in assessing cash flow prospects. financial structures. OUTLINE Introductory matters ¾ Preface of International Accounting Standards (IAS) ¾ The IASB‘s framework and objectives of financial statements ¾ International financial reporting standards (IFRS 1 First-Time Adoption on International Financial Reporting Standard) ¾ First time adoption of international financial reporting standards Income statement and related information ¾ Format of Income statement • Reporting Irregular issues • Special Reporting issues • IFRS-5 Non Current Assets held for sale and discontinued operation • Revenue recognition (IAS-18) ¾ The current environment ¾ Revenue recognition at point of sale(Delivery) • Sale with payback agreement • Sales when right of return exist GC University. operation and validation of accounting systems affects. As Objectives indicated above. organizations.Requisite Advanced Accounting-I Semester IV This course is designed to serve the needs of modern accounting principles. markets and society. The course requires students to study how the design. Under such circumstances. and financial instruments. procedures and methods that are applied in preparations of financial statements and the proper uses that can be made of financial data. This course will have different relationships with the requirements of the various professional accountancy bodies like ICAP. Faisalabad[Type text] Page 44 . and is affected by. PIPFA and other universities in Pakistan. accounting is often studied in combination with a substantial amount of finance. the degree structure should also require the study of the operation and design of financial systems. and changes in them. individuals. and To provide information about enterprise resources claims to those resources. To provide information that is useful in investment and credit decisions. ¾ Impairments ¾ Depletion ¾ Intangibles IAS-16. Intangible Assets Long term liabilities ¾ Long term notes payable ¾ Reporting and analysis of long term debt ¾ Accounting for troubled debt ¾ IAS-23 Stockholders‘ Equity ¾ Identify the key components of stockholders‘ equity. Faisalabad[Type text] Page 45 . ¾ Describe the accounting for treasury stock.Scheme of Studies of B Com Distance Education ¾ Revenue recognition before delivery • Percentage of completion method • Completed contract method • Long term contract losses • Disclosure in financial statement • Completion of production basis ¾ Revenue recognition before delivery • Installment sales method • Cost recovery method • Deposit Method ¾ Revenue recognition for special sales transactions Balance sheet issues ¾ Classification in the balance sheet ¾ Additional information reported ¾ Techniques of disclosure Cash flow statement ¾ Content and format of statement of cash flow ¾ Preparation and usefulness of statement of cash flow ¾ IAS-7 for cash flow statement Additional valuation issues of Inventory IAS-2 ¾ Lower of cost or market ¾ Valuation basis ¾ The gross profit method Assets ¾ Depreciation. ¾ Describe the policies used in distributing dividends. Property Plant and Equipment IAS_38. GC University. ¾ Explain the accounting for and reporting of preferred stock. ¾ Explain the accounting for convertible preferred stock.Scheme of Studies of B Com Distance Education ¾ Indicate how to present and analyze stockholders‘ equity. Dilutive Securities and Earnings Per Share ¾ Describe the accounting for the issuance. ¾ Compute earnings per share in a complex capital structure. ¾ Compute earnings per share in a simple capital structure. IAS-33 Earning Per Share IAS-34 Interim Financial Reporting Investments ¾ Investment in debt securities ¾ Investment in equity securities ¾ Other reporting issues Accounting for income tax ¾ Fundamentals of accounting for income tax ¾ Accounting for net operating losses ¾ Financial statement presentation Accounting changes and error analysis ¾ Changes in accounting estimate ¾ Changes in accounting principle ¾ Reporting a change in entity Error Analysis ¾ Income statement error ¾ Balance sheet error ¾ Preparation of financial statements with error correction ¾ Changes from or to the equity method ¾ IAS-8 Accounting Policies. and retirement of convertible securities. ¾ Discuss the controversy involving stock compensation plans. Faisalabad[Type text] Page 46 . ¾ Contrast the accounting for stock warrants and for stock warrants issued with other securities. changes in accounting estimates and errors ¾ Full Discloser in financial reporting ¾ Full disclosure principle ¾ Notes to the financial statements ¾ Disclosure issues ¾ Current reporting issues Recommended Texts GC University. conversion. ¾ Describe the accounting for stock compensation plans under generally accepted accounting principles. IFRS. Kieso. 2. Weygandt. lASs by International Accounting Standards Board. Intermediate Accounting. London GC University. and Warfield (2010).Scheme of Studies of B Com Distance Education 1. Wiley higher education. Faisalabad[Type text] Page 47 . IFRS Edition. payroll taxes and deductions. Semi -variable and step fixed cost. labor. application of IAS -2. Reorder level. LIFO and weighted average for material. Predetermined overhead applied rate. Remuneration methods. factory overhead costing and control. The use of FIFO. Fixed and variable cost. scope. Allocation. Cost accounting v / s financial accounting.Scheme of Studies of B Com Distance Education Course Code COST ACCOUNTING Marks = 100 COM-D404 Pre-Requisite NONE Semester IV To understand cost concepts. Time sheet and job cards. valuation and the pricing for material issue. Uses of cost data.bin system. respectively. Costing department and its relationship with other departments. Straight piece rate and differential piece rate. GC University. Statement of cost of goods manufactured and sold. Faisalabad[Type text] Page 48 . Product and period cost. Controllable and uncontrollable cost. Two. cost flow and classification. Cost Classification and Flows Direct and indirect cost. Direct and indirect labour. To Prepare job order cost sheet and cost of production report OUTLINE Concepts and Scope of Cost Accounting Definition and concept of cost. applied and actual. Effect of quantity discount on EOQ. Stock taking periodic and perpetual inventory. Incentive wage plan. ABC Control. Cost elements. safety stock and maximum stock. Labour Costing and Control Objectives of payroll accounting. Productivity and efficiency. Economic order quantity. Factory Overhead Costing and Control Classification and collection of overhead. Cost flow. Material Costing and Control Procedure of material procurement. objectives. Departmentalization of overhead. To prepare cost of production report and cost statement under process cost accounting system and job order costing Objectives system. Factory overhead cost: planned. Sources and uses of cost data. Cost object. Calculations and recording of payroll. Treatment of differences between physical and book stock. Group bonus. Labour turnover rate. To understand and explain material. Overtime and idle time. Role of cost accounting in a management information system. Over and under applied factory overhead' and its disposal. service department costs. Hammer & Adolph Matz (1988). Chart of account and coding for costing. DP Publications. Journals /Periodicals: Journal of Management Accounting. F. Introduction to process costing. Usry M. Incomplete process and concept of equivalent units. Cost Accounting. Job order costing. Thomson Learning High Holborn 4. Recommended Book: 1.. Aldyne 3. Co. Faisalabad[Type text] Page 49 . South-Western Pub. 2. Types of Costing Systems Establishment of cost accounting system. Lucy. Integrated and interlocking cost accounts. H. ICAP. Cost Accounting. Management and Cost Accounting. Repeated distribution and algebraic method for reciprocal.Scheme of Studies of B Com Distance Education apportionment and reapportionment of overhead costs. Drury. Format of process account and cost of production report. T. Operation I service costing. Colin. GC University. search. Sales Tax Act. History. Prohibition and restriction on import and export. Federal Customs Tax. Invoicing Requirements. Sales Tax Law. 3. Levy and Collection.Scheme of Studies of B Com Distance Education Course Code SALES TAX & CUSTOM LAW Marks = 100 COM-D406 Pre-Requisite NONE Semester IV OUTLINES Introduction of Custom Act. Appointment of Officers. and their powers. GC University. Sales Tax. History. History . Introduction of Sales Tax Act. of Pakistan. Federal Excise Tax. Furnishing of Returns. Adjudication and Appeals. Definitions.I. Definitions. Appointment of Officers. Drawback. of Pakistan. Syed Mobin Mahmud & Co. 4. Appeals and Revisions. Lahore. Latest Edition. RECOMMENDED BOOKS: 1. Definitions. Naqvi. Offence and Penalties. arrests and seizures. 5. Offences and Penalties. Govt. Appeals and Revisions Introduction of Excise Act. Taxation House. Mughal. Lahore. and their powers. Faisalabad[Type text] Page 50 . Registration. Govt. exemption. of Pakistan. R. Muhamad Muazzam. Govt. Scope. 2. Objectives to enable the students to grasp the difference among various important aspects of business and industrial laws. Faisalabad[Type text] Page 51 .Scheme of Studies of B Com Distance Education Course Code BUSINESS LAW Marks = 100 COM-D408 Pre-Requisite NONE Semester IV to familiarize the students with the different Mercantile Laws affecting the economic and business environment in Pakistan.. to make students understand the important elements and aspects of business and industrial laws. to equip the students with the necessary skills and aptitude to deal tactfully with the legal situations arising out of business routine OUTLINE ¾ Introduction to Law of Contract 1872 ¾ Definition of Contract ¾ Essentials of a valid contract ¾ Contract and its kinds ¾ Offer and Acceptance ¾ Revocation of offer ¾ Consideration and Object ¾ Exceptions to Considerations ¾ Unlawful considerations ¾ Capacity of Parties ¾ Persons of unsound mind ¾ Disqualified persons ¾ Free consent ¾ Coercion and Undue influence ¾ Fraud and misrepresentation ¾ Mistake and its types ¾ Void Agreements ¾ Types and conditions ¾ Contingent and Quasi Contracts ¾ Performance of Contracts ¾ Performance of joint promises ¾ Reciprocal promises ¾ Contracts not requiring performance ¾ Discharge of Contract ¾ Breach of Contract and its remedies ¾ Indemnity and Guarantee ¾ Bailment and Pledge GC University. to enable the students to assess the nature and impact of certain types of rules and regulations by analyzing the cases referre to in the recommended books/sources. Scheme of Studies of B Com Distance Education ¾ Essential features . Lahore. Cheema. Sayed Mobin Mahmud & Co. Internet source: www. Khalid Mahmood. Saeed.Paksearch. 3. 2. Institute of Business Manageent. Faisalabad[Type text] Page 52 . Duties and liabilities of Partners ¾ Dissolution of firm and partnership Recommended Text : 1. Mercantile and Industrial Laws in Pakistan. and relations in . Business Law. Partnership ¾ Rights . Khaja Amjad. and parties ¾ Rights and duties of parties ¾ Termination of pledge and Bailment ¾ Contract of agency ¾ Creation of agency ¾ Rights and duties of Principal and agent ¾ Termination of agency ¾ Contract of Sale of Goods ¾ Essentials of a sale ¾ Agreement to sell ¾ Fixation of Price ¾ Conditions and Warranties ¾ Definitions and Difference ¾ Doctrine of Caveat Emptor ¾ Transfer of Property ¾ Sale by non-owner ¾ Performance of Contract of Sale ¾ Rights of Unpaid seller ¾ Law of Negotiable Instruments ¾ Parties of Negotiable Instruments ¾ Presentment of Negotiable Instruments ¾ Negotiation of Negotiable Instruments ¾ Dishonor of Negotiable Instruments ¾ Banker and customer ¾ Law of Carriage of Goods ¾ Carriage of Goods of Land ¾ Carriage of Goods by Sea ¾ Carriage of Goods by Air ¾ Law of Carriage of Goods ¾ Carriage of Goods of Land ¾ Carriage of Goods by Sea ¾ Carriage of Goods by Air ¾ Law of Industrial Relations ¾ Unfair Labor practices ¾ Law of Labor in factories ¾ Law of Industrial and Commercial Employment ¾ Law of Partnership ¾ Introduction and scope of Partnership Act 1932 ¾ Formation of.com GC University. Lahore.