CSS ACCOUNTANCY AND AUDITING Syllabus

ACCOUNTANCY AND AUDITING
Total Marks-200

PAPER I (Marks-100)

ACCOUNTING

Principles of Accounting and their applications to all types of Business Organizations Banking, Insurance, Investment, Trading and Industrial Concerns, Accounting for non-profit Organisations. Work-sheet. Financial statements, Financial Reporting, Financial Analysis and Budgeting, Depreciation, Partnership.

Note—Accounting for Executors, Trustees of Deceased Persons, Liquidators, Receivers, Official Agencies, Assignees etc. and Accounting for Multinational Corporation will not be included.

PAPER-II (Marks-100)

(a) Cost Accounting

Principles of Cost Accounting, Relationship of Cost Accounting to Financial Accounting, Cost Accounting as a tool of management—use of Cost information, Cost flow, Cost elements, Costs classification. Process Cost and job-order Cost Accounting, Costing for Joint and by—Products. Standard Cost Accounting, reconciliation of Financial Accounts with Cost Accounts.

(b) Auditing

Principles of Auditing, The Accounting System, Its importance to lndependent Audit, Internal Control, Internal Audit. Rights and Duties of Auditors. Professional Liabilities of an Auditor. Application of Auditing Principles and Techniques to all Types of Trading, Commercial. Industrial, Banking, Insurance and Investment under-takings, Audit programme. Special Audit Investigation of actual or suspected Frauds, Limitations of Audit, Audit Report, Certificates and Opinion as required under Companies Act, Securities Exchange Authority Rules. Auditing and EDP Systems.

(c) Income Tax

Principles for Computing total income and total world income for purposes of Income Tax, Self Assessment.

Specialised knowledge of Income Tax will not be expected. Candidates will be required to have a sound grasp of the provisions of Section 10 of the Income Tax Act and a working knowledge—only of Sections 9(1), 15, 16(1), 17(1) 19(1), (2), (a), 30(1) & (2). 31(1) 11 No. Schedule (Item No. 66 & 71 to 75) 39(1) & (a) 49, 69(4) 12(II), 1st Schedule 53(1), 55(1), 56, 61, 59(1), 60, 62, 68. 12(2) and the connected rules of the Income Tax Ordinance 1979 as amended todate.

(d) Business Organization and Finance

Nature and Scope of Business Organization, Forms of Business Organization—Sole Proprietorship, Partnership, Joint Stock Company, Cooperative Society, Company Promotion and Management, Insurance, business Combinations, Principles of Business Finance, Short Term, Intermediate Term and Long Term financing, expansion and contraction, Ratio analysis—Sources and flow, statement, Role of Financial Institutions.

SUGGESTED READINGS

	Title	Author
1	Accountancy	Pickles, W.
2	Advanced Accounting Vol. I & II	Muin-ud-Din
3	Book Keeping and Accounts	Big, W.S
4	Principles and Practice of Book Keeping and Accounts	Vickery, B.G.
5	Cost Accounting, Planning and Control	Matz and Usry
6	Cost Accounting	Nisar-ud-Din
7	Cost Accounting	S. Qavi Ahmed
8	Auditing	Dicksee, L.R.
9	Companies Act 1984
10	Practical Auditing	Spiecer and Pegler
11	Principles and Procedure of Auditing	Kh. Amjad Saeed
12	Income Tax Ordinance 1979 (amended to date)
13	Income Tax Law (Latest edition)	Kh. Amjad Saeed
14	Business Organization	Nisar-ud-Din
15	Principles and Practice of Commerce	Stephenson
16	Basic Business Finance	Hunt, Williams and Donaldson
17	Income Tax Law Vol. I & II (Latest edition)	Luqman Baig