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Old Thursday, January 21, 2016
Sana Satti Sana Satti is offline
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Quote:
Originally Posted by Awesum Farhan View Post
I'm only posting about Paper 1 , Part A. Later on I'll post about other sections too.
Here are complete guidelines and chapters
Start from financial accounting. Buy Accounting by Sohail Afzal and Advanced Accounting by Sohail Afzal book for b.com and Business accounting 1 by frank wood (Available Online plus solution), Business Accounting 2 by Frank Wood (Available online plus solution manual). You can categorize them days wise after looking at the number of pages and your speed.

A) Financial Accounting (50 marks)
i) Fundamental Accounting Principles, Concepts, Assumptions and Conventions and
iii) Attributes, and Significance of Accounting Information:

(Accounting by Sohail Afzal)
Chapter 1- Introduction
Chapter-2- Transactions and accounting equation

(Business Accouting by Frank Wood)
Chapter-1 Accounting equation
Chapter-10. Accounting Concepts

ACMA financial accounting 1 (must read) :

Chapter-1 and Chapter-2
Here is link open it and in semester 1 first book:
https://www.icmap.com.pk/fsm.aspx

ii) Accounting Cycle/Process and Financial Statements:

(Accounting by Sohail Afzal)
Chapter-3- Analysis of Business Transactions and Double Entry System
Chapter-4 Journal
Chapter-5- Ledger
Chapter-7 Special Journals
Chapter-8 Cash Book and BRS (Most important for numerical)
Chapter-9- Journal Proper and Summary of Trial Balance
Chapter-10 Final Accounts
Chapter -11 Adjustments and effects (Most important for numerical)
Chapter-12- Work Sheet
Chapter-13- Financial Statements
Chapter-14- Capital and Revenue expenditures (important from objective point of view)
Chapter-15 Errors correction (Important for objectve)

(Accounting 1 by frank wood)

Chapter- 1 to 17-Everything is same that you have done from sohail afzal's book but will be good for you (optional)
Chapter- 24 Revenue and capital expenditures (Important for objective must read from this book too)
Chapter- 39- Cash flow statement
Chapter-14 Cash Flow statement of companies (Business accounting 2 by Frank Wood either do it here or do it along with section iv of companies)

Standards to be read for this part ( ii)
a) IAS-1- Financial Statements
b)IAS-2- Inventories
c)IAS-7- Cash flow Statement
d) IAS-32 Presentation and disclosure

iv) Accounting for common Legal Forms of a Business:
Sole proprietors
(Above chapters of sohail Afzal book 3-12 already covered)
Partnership :
Chapter 18: Partnerships accounts (Sohail Afzal)
Companies:
Chapter 1 to Chapter 4 (Advanced accounting by Sohail Afzal it's advanced book 2 not previous one mentioned before)
Chapter 3-14 (Business accounting 2 by frank wood)

Banking Companies
Annual Statements of any bank read it (In case of confusion you can ask)

v) Accounting for Associations Not-for-profit, and for Public Sector:

Chapter 17 Accounts of non profit organization ( Accounting by Sohail Afzal book 1)
Chapter 36 Income and expenditure accounts (Accounting 2 by frank wood)
Chapter-33 Public sector entities (Business Accountin 2 by Frank Wood) (Remaining standards etc leave them)

vi) Accounting for Non-current Tangible Assets:

Chapter-19 Depreciation and reserves (Accounting by Sohail Afzal book 1)
Chapter-26 Depreciation (Business Accounting 1 by Frank Wood)
Chapter-27 Accounts for depreciation (Business Accounting 1 by Frank Wood)
Chapter10- Capital Assets, Plant and equipment (Accounting 1 by meigs and meigs if accessible do use it)

Standards:
IAS-16 Property, Plant and equipment
IAS-36 Impairment of Assets

vii) Fundamental and Technical Analysis of various Forms of Organizations:

Chapter-5 Analysis of Accounting Ratios (Advanced Accounting by Sohail Afzal)
Chapter-27 Analysis of Ratios (Business accounting 2 by frank wood)
Chapter-28 Interpretation of financial Statements (Business Accounting 2 by Frank Wood)
Chapter 3- Financial Statements and Ratio Analysis ( Principles of managerial Finance by Gitman available online plus solution)
Horizontal, Vertical and trend analysis (Just google it easily available)

If there are any queries let me know.
Thank you so very much for such a detailed guidance ! Really was badly in need of it But still have a few queries Like from where to prepare standards Secondly Time is too short now ! just started my preparation now ! Have done B.com previously & then MBA in finance. You have mentioned many books like what if i only follow Sohail Afzal's book
Finally books which you have mentioned for Cost Accounting i don't have it ! I've Sohail Afzal's book & Matz,Usry book ! Kindly tell the chapters to be covered from these book too I will highly appreciate your cooperation Kindly reply soon. Thanks in advance !
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Awesum Farhan (Friday, January 22, 2016)