Opting Accounting with Financial Accounting I-II& Management Accounting Background

[Naveed Aman Safi]

Hi Everyone i hope that all of you are doing great. I have a query that whether or not should i opt Accounting and Auditing in the upcoming exam.

Before i was thinking about selecting IR and have studied it on and off in the past 4 months. I have grabbed the concepts and am doing well however some have advised me to look into Accounting and Auditing as it can give great marks.

My background is in Business administration and In our degree we have studied
1. Financial Accounting I
2. Financial Accounting II

these two were based on Meigs and Meigs. Besides i have also studied the Management accounting course.

I am a bit confused that whether or not should i go for this subject. i have worked with all my other optionals and have covered them. I can give time to this subject but is it doable in 1-2 months or not.

Any seniors who have Business Administration background or has opted it in the past kindly respond. Regards

[thedude]

Hi Naveed,

With commitment any one can master any subject, but it is important to have a clear view regarding what kind of effort is required, and whether it is feasible for us to put in that effort.

Learning the basics of an income statement, balance sheet, statement of equity and other accounting statements is not very difficult. The problem with accounting is that many of the marks depend on your understanding of the theoretical concepts of accounting as well as your ability to detect and overcome the tricks deployed by the examiner in the exam to trap you.

It takes time and practice to acquire these things. Someone with a strong accounting background already has these two prerequisites and he only has to do a little revision. If you have only taken a few courses I would think twice.

Another thing you have to consider is the possibility of 2017 being a difficult year accounting. In 2010 only 2 people got above 60% in the exam, in 2013 that number was only 20. If it is a difficult year and you go in with less than 100% preparation, it will likely be difficult that you get 60% +.

Only you can decide how much time you need. I only wanted to present you with the other side of argument regarding accounting so you can make a more informed decision.

[saadqta]

I have attempted accounting in CSS 2015 and CSS 2016. The new syllabus of accounting has become quite extensive. Now one has to study five different but complete subjects for just 50 or 30 marks each. It now requires a lot of time and effort.

International relations will help you in other subjects too while accounting does not provide any sort of assistance in any other paper. Further you have already invested four months in IR so I guess it would be better to continue with it

[GreyWolf99]

Revised syllabus is bit more complicated and advance level. if you got sound knowledge of accounting concepts, financial statements, ratio analysis, financial management and performance management then go for it. it will give you easy scoring as most of the paper is analytical.

Preparation time depends on your academic background. if you have proper "professional" accountancy background, it will take around 15 days. the course is lengthy otherwise if you just went through a book or two during your business studies. it certainly will demand much more time like few months.

[Lost destiney]

if you have relevant background then never mids the chance broo.. as I have prepre this subjet in 20 to 30 days..

[Recluse]

This might be irrelevant but my query remained ignored in the thread i created, that is why i am asking whether tax tables will be provided for paper 2?

[GreyWolf99]

Originally Posted by Recluse

This might be irrelevant but my query remained ignored in the thread i created, that is why i am asking whether tax tables will be provided for paper 2?

No. you have to cram it.