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#1
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changed pattern of accounting.
Dear friends,
All the members, who have given the attempt of 2011,saw a completely changed pattern of accounting. There was a big change in all the sections of both papers. Members and senior members are requested to discuss and guide respectively with reference to the following questions: Paper-1: 1.Which format,vertical or horizontal,for the financial stats should be followed? 2.Which books for financial stats should be studied? 3.Which book(s)for MCQs should be studied? 4.Are IAS/IFRS to be studied now? Paper-2: 1.Which book(s)for MCQs should be studied? 2.Which book(s)for the section titled BUSINESS ORGANIZATION AND FINANCE should be studied? In this section,in 2011,a numerical question was asked. Is this trend expected to continue? If yes,which book(s)should be studied for it? 3.We saw the biggest change in the sections titled AUDITING AND INCOME TAX. Which books should now be studied for these section keeping in view the changes? Respected senior members are requested especially for the guidance. Regards. |
#2
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Following is a very comprehensive thread regarding selection of books, please go through: Accounting & Auditing - CSS Forums In CE-2011 paper MCQs were full fledge questions in itself, so go through the whole syllabus, there is no separate book for MCQs. For your own knowledge you may study but for CSS, I don't think it necessary. Quote:
For business organization and finance I studied selected portion of Corporate Law and Secretarial Practices by Prof. Shaheen. We couldn't say anything for trend, one must be prepared for surprises For auditing I used Auditing by Muhammad Irshad For Income Tax - selected portion of Synopsis of Taxes by Munawar Mirza Quote:
Best Regards,
__________________
“There is no God but You (Allah Almighty), You are far exalted and above all weaknesses, and I was indeed the wrongdoer”. AL-QURAN |
#3
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Thanks dear Syed Ahmed Ali for your valuable advice.But a few questions still remain to be answered.
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At ICMAP,we followed the format as prescribed the IFRS and Co.ordinance 1984. But in CSS issue of which format is to be used has not yet been resolved despite lapse of considerable time. So what do you recommend now? Quote:
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And yes you are right synopsis is better but there are also other recommended books like notes by Khalid Petiwala. For the section titled BUSINESS ORGANIZATION AND FINANCE we need further discussion as the commission shifted from simple b.com level questions to more advanced levels questions. Regards. Last edited by marwatone; Tuesday, April 26, 2011 at 08:34 PM. Reason: Posts merged. |
#4
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What is "Statement of Changes in owner Equity" plz guide me.
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EXPECT THE BEST, PREPARE FOR THE WORST: M.A. JINNAH |
#5
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The Statement of Changes in owner Equity also known as Statement of owners equity or Statement of retained earning is and integral part of financial statements.
This accounting report shows all the changes to the owners equity that have occurred during the period. These changes comprise capital, drawings and the profit for the period. This statement is relatively simple and easy as compared to Income Statement and comprised few items. Just like the income statement, this statement normally covers a twelve-month period. Following is a simple format of the said statement:
__________________
“There is no God but You (Allah Almighty), You are far exalted and above all weaknesses, and I was indeed the wrongdoer”. AL-QURAN |
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