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  #11  
Old Saturday, January 23, 2016
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Quote:
Originally Posted by Awesum Farhan View Post
@Sana
If you have only one book of Sohail Afzal then all other books are available online.. You can easily download them or view them from "Google Books". Moreover, Sohail Afzal doesn't cover complete syllabus. If you go for it then you cannot prepare completely.
As far as cost accounting by sohail afzal is concerned then you should read it completely..
And remember "There's no short cut of certain success".
I've 2 books of Sohail Afzal ! Financial Accounting & Advanced Accounting both ! I've a few queries in the above mentioned chapters ! Please answer them as soon as possible ! In Financial Accounting book of Sohail Afzal you have mentioned Chapter no 7,8,9,14,15 ! I didn't get where are these topics in syllabus Or why we need to cover these ! Secondly "Closing & Reversing Entries" from where to cover this topic Please do mention chapter no along with the book name !

I am unable to open the link you have mentioned above for the manual of Gitman book

For managerial accounting i have Hilton's book! If you have this kindly tell the chapters to be covered from this book !

Your cooperation will be highly appreciated
Reply soon kindly !
PS (Share the chapter wise syllabus for paper 2 too asap)
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  #12  
Old Saturday, January 23, 2016
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@Sana
1-In Financial Accounting book of Sohail Afzal you have mentioned Chapter no 7,8,9,14,15 ! I didn't get where are these topics in syllabus
Answer:
As you are familiar that there will two parts of the paper objective and subjective. You need to study these chapters because these are basic and core chapters of Accounting. Moreover, in order to have good grip over subjective you should study these chapters. Otherwise, you will not be able to do well in the paper. Maximum 4 hours are needed to study these chapters. So don't worry about it.

2- Closing and reversing entries?
You can do them from chapter 9 of the said book of sohail Afzal. For additional study consult accounting by meigs and meigs chapter 5,6,7. Please check it.
3-About link?
Just google it and search it on google and download it "Financial Management by Gitman".
4-Managerial Accounting by Hilton

Chapter-1,2,3,4,5,8,9,10, (This book doesn't cover many topics so try to find out the relevant chapters i mentioned above or you can read them from Google books, these books are available)
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  #13  
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Some people are confused about "How to prepare standards and from where" Here you are, this file covers all those standards you people are required to study.
http://papers.xtremepapers.com/CIE/M...AS_Booklet.pdf
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Paper-2

Reading Material:
Auditing by S.K Basu
Auditing by Khawaja Amjad Saeed
Virtual University Notes
Audit Standards (Don't read each and every word only relevant material if you want me to send relevant material then I can mail you)

Before giving outlines about Auditing; let me make it clear that Audit syllabus is ambiguous and everything is written in a random manner. So in order to do complete preparation in systematic manner, I'll write syllabus in the most logical way so that my fellows can prepare well. Moreover, I'm aware the outlines are ambiguous too and those who are studying it first time, will be perplexed with it. Unfortunately, we don't have any standard text available in the market. In near future, I'll try to compile notes of Auditing which would be detailed and cover complete syllabus, but it will take time.


1)Auditing-40 marks
I. Fundamental Auditing Principles and Concepts:
i)Audit and Auditing, True and Fair View, Reasonable Assurance

Chapter-1 Nature of Auditing by S.K Basu
Chapter-1 Auditing by Khawaja Amjad Saeed
VU Notes Lesson-1
ISA-200

ii)Audit Assertions and Reasonable Assurance, Regulatory Framework:
VU Notes- Lesson-4
Read them online from google search

iii) Stages of Audit or Audit Process (Not written in syllabus but It's implied):
VU Notes-Lesson- 3
VU Notes Lesson-5

Usually Audit process consists of following stages:
1-Engagement
2-Using the work of Other Auditors (Optional in case of different auditors)
3-Audit Planning
3.i)Knowledge of Business
3.ii)Setting Materiality
3.iii)Risk Assessment
3.iv)Internal Control and Accounting system review
4-Overall Audit Plan
5-Designing Audit Programs
6-Obtaining Audit Evidence by Audit Procedures using audit sampling
7-Forming opinion and reporting
For more information search from Google

iv) Audit Engagement
ISA-210

v) Audit Documentation (Tells you what sort of documents you need to compile)
ISA-230

vi) Auditor's responsibility to consider fraud
ISA-240

vii) Planning of Audit
ISA-300


viii) Internal Control Review
Chapter-3 Internal Control by Khawaja Amjad Saeed
Chpater-3 Internal Control by S.K Basu
VU Notes Lesson-17,18

viii) Audit Materiality and Risk
ISA-315
ISA-320
VU Notes Lesson-14, 15

ix) Audit Programs

use internet to study in detail

x) Audit Evidence , Tests of contro, substantive procedures
Chapter-2 Audit Procedures by Khawaja Amjad Saeed
ISA-500
ISA-520
ISA-530
VU Notes Lesson-20,21,22,23

x) Governance and Premise
ISA-260, 580

xi) Going Concern
ISA-570

xii) Audit in computer based environment (EDS and CAAT)
Chapter-20 S.K Basu

2) Audit Considerations, Dimensions and Conduct

i) Internal Control System: Already Done

ii) Classifications of Audit
Chapter-2 S.K Basu

iii) Scope, Objective and Conduct of Audit: ISA-200

iV) Audit procedures for undertakings
Chapter- 12, 17 S.K Basu
Chapter-15 Khawaja Amjad Saeed

3) Role and Responsibilities of an Auditor:

Chapter- 9 Khawaja Amjad Saeed
Chapter-10 Khawaja Amjad Saeed
Chapter-14 Khawaja Amjad Saeed
VU Notes Lesson-6,7,8

4- Reporting
Chapter-11 Audit Reports by Khawaja Amjad Saeed
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Quote:
Originally Posted by Awesum Farhan View Post
@Sana
1-In Financial Accounting book of Sohail Afzal you have mentioned Chapter no 7,8,9,14,15 ! I didn't get where are these topics in syllabus
Answer:
As you are familiar that there will two parts of the paper objective and subjective. You need to study these chapters because these are basic and core chapters of Accounting. Moreover, in order to have good grip over subjective you should study these chapters. Otherwise, you will not be able to do well in the paper. Maximum 4 hours are needed to study these chapters. So don't worry about it.

2- Closing and reversing entries?
You can do them from chapter 9 of the said book of sohail Afzal. For additional study consult accounting by meigs and meigs chapter 5,6,7. Please check it.
3-About link?
Just google it and search it on google and download it "Financial Management by Gitman".
4-Managerial Accounting by Hilton

Chapter-1,2,3,4,5,8,9,10, (This book doesn't cover many topics so try to find out the relevant chapters i mentioned above or you can read them from Google books, these books are available)
Don't have time to study extra chapters ! Actually I've started my preparation just a few days ago So just want to cover the mentioned syllabus ! Secondly as far as i think Objective part should be from the mentioned syllabus ! It should not be out of box! Please correct me if I'm wrong !

Secondly for cost accounting i have two books ! 1 is of Sohail Afzal & the other one is by Matz n Usry ! Please if you tell me the chapters from these two books i shall be grateful

For Auditing I've M Irshad book! Again if you can tell me the chapters from this book to be covered as per mentioned syllabus, i will highly appreciate it

Because i don't have much time ! Just need someone with whom i can match the chapters to be covered !

PS ( I've seen in your profile that you've opted Business Administration & Mercantile law as well ! If you can mention the chapter wise syllabus of these subjects in their respective threads , it would be great )

Thanks in anticipation !
Looking for a reply soon !
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Last edited by Sana Satti; Saturday, January 23, 2016 at 05:05 PM. Reason: Mistakes
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Old Saturday, January 23, 2016
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Don't have time to study extra chapters ! Actually I've started my preparation just a few days ago So just want to cover the mentioned syllabus ! Secondly as far as i think Objective part should be from the mentioned syllabus ! It should not be out of box! Please correct me if I'm wrong !

Secondly for cost accounting i have two books ! 1 is of Sohail Afzal & the other one is by Matz n Usry ! Please if you tell me the chapters from these two books i shall be grateful

For Auditing I've M Irshad book! Again if you can tell me the chapters from this book to be covered as per mentioned syllabus, i will highly appreciate it

Because i don't have much time ! Just need someone with whom i can match the chapters to be covered !

PS ( I've seen in your profile that you've opted Business Administration & Mercantile law as well ! If you can mention the chapter wise syllabus of these subjects in their respective threads , it would be great )

Thanks in anticipation !
Looking for a reply soon !
Firstly, Whatever I have written it's based upon past papers. If I recommended you to read Chapter 7,8,9,14,15 then I have seen questions in Past Papers from these chapters. Moreover, these are the part of the syllabus it's implied. Fpsc has not given you each and every topic to prepare. So if you leave these chapters it will be detrimental. So you should at least study complete book of Sohail Afzal As I've mentioned. It would take 4 days if you study diligently.


Secondly, Even if you study cost accounting from Sohail Afzal's book, you still can't cover complete syllabus. So given time limitation, I can tell you to read complete book of Sohail Afzal plus find out some chapters concerning "Variance Analysis, Standard Costing, Break Even Analysis.

Thirdly I don't have Matz Usry's book so cannot recommend you anything from it.
Finally, yes,my optionals are BA and ML but I'm an aspirant for CE-2017 and hence, i've not studied them completely. But I'll try to post syllabus soon provided that I have time.
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P.K Jain's book online available or not..??
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Quote:
Originally Posted by Awesum Farhan View Post
Firstly, Whatever I have written it's based upon past papers. If I recommended you to read Chapter 7,8,9,14,15 then I have seen questions in Past Papers from these chapters. Moreover, these are the part of the syllabus it's implied. Fpsc has not given you each and every topic to prepare. So if you leave these chapters it will be detrimental. So you should at least study complete book of Sohail Afzal As I've mentioned. It would take 4 days if you study diligently.


Secondly, Even if you study cost accounting from Sohail Afzal's book, you still can't cover complete syllabus. So given time limitation, I can tell you to read complete book of Sohail Afzal plus find out some chapters concerning "Variance Analysis, Standard Costing, Break Even Analysis.

Thirdly I don't have Matz Usry's book so cannot recommend you anything from it.
Finally, yes,my optionals are BA and ML but I'm an aspirant for CE-2017 and hence, i've not studied them completely. But I'll try to post syllabus soon provided that I have time.
Ohh ! I thought you are appearing in CE-16 ! Thank you Bro for your cooperation Yes, you are right but the syllabus has been changed so one must prepare as per syllabus instead of wandering here & there ! Any how i heartily appreciate your efforts & Contribution! Stay blessed!
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@awsum farhan brother how much time is required for preparing this subject thoroughly ? and what percent of the syllabus is covered by sohail afzals book for b.com part 1.
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Not sure you can check.
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