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  #1  
Old Sunday, August 12, 2012
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Unhappy confusions about syllabus

A.A all.. here is some confusions about syllabus please anyone help me in this regard
1. why to prepare IAS standards? when these are not mentioned in syllabus and please tell the numbers of standards we have to prepare and source of that material?
2. in our taxation syllabus we have some sections to prepare please inform me source for that too?
3. in accounting cash budget is a chapter i failed to get that topic in many books tell me other name for that topic?

thanks in advance
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Old Sunday, August 12, 2012
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Originally Posted by anum S View Post
A.A all.. here is some confusions about syllabus please anyone help me in this regard
1. why to prepare IAS standards? when these are not mentioned in syllabus and please tell the numbers of standards we have to prepare and source of that material?
2. in our taxation syllabus we have some sections to prepare please inform me source for that too?
3. in accounting cash budget is a chapter i failed to get that topic in many books tell me other name for that topic?

thanks in advance
preparation of IAS will help you in understanding topics plus in theoretical part of the paper income statements can be prepared from there as standard of accounting in css is not that low .
buy munawar mirza's federal tax book it is easily available in lahore
for budgeting sohail afzal and m.arif type books are not sufficient copy that chapter from any foreign author shukla or mukherji or any one .
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anum S (Sunday, August 12, 2012)
  #3  
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thanks in fact i wanna ask that what we call budgeting i have foreign books as well but these is no chapter named cash budgeting i hope you can help me for that.
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thanks in fact i wanna ask that what we call budgeting i have foreign books as well but these is no chapter named cash budgeting i hope you can help me for that.
according to me cash budgeting means cash flow budgeting in css that is IAS 7 . if you want to buy IAS don't consume your money and time on IAS books those are too lengthy and a person cannot understand that without any guidance . I know all about IAS and IFRS that is why giving you a piece of advice if you are in lahore buy IFRS book PAC (C.A) it will cover required IAS and easy to understand as this book is a sort of summaries of IAS etc . Best of luck
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  #5  
Old Monday, August 13, 2012
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thanks in fact i wanna ask that what we call budgeting i have foreign books as well but these is no chapter named cash budgeting i hope you can help me for that.

and there is no need to work on whole IAS system is a complete system of accounting so concentrate on these in IFRS or IAS i;
1- Framework
2- IAS 1
3- IAS 2
4- IAS 7
5- IAS 37 will guide more if required
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Old Tuesday, August 14, 2012
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and there is no need to work on whole IAS system is a complete system of accounting so concentrate on these in IFRS or IAS i;
1- Framework
2- IAS 1
3- IAS 2
4- IAS 7
5- IAS 37 will guide more if required
I am a newbie here, but I think questions in CSS dont require a complete knowledge of an individual IAS as it requires alot of skill.
IAS 1 just provides guidance on the presentation of Financial Statements(F/S) which focuses on the structure and all that;
IAS 2 provides guidance on the valuation of inventory, which is an easy thumbrule,;
And IAS 7 isn't related to 'Cash Flow Budgeting', it is related to provide guidance on the preparation of 'Cash Flow Statement'.
'Cash Budget' is a forecast for the cash levels of the next coming months according to the expected level of demands,expected commitments,and periodic costs etc, where as 'Statement of Cash Flows' is prepared to reconcile the opening cash balance of the YEAR and the closing balance of the YEAR and it is part of the complete set of the Financial statements prepared at year end.
And IAS 37 is lengthy and technical for a newbie having little accounting background, however it provides guidance on Provisions, Contingent Liabilities and Assets.
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Old Tuesday, August 14, 2012
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Originally Posted by Syed Azmat View Post
I am a newbie here, but I think questions in CSS dont require a complete knowledge of an individual IAS as it requires alot of skill.
IAS 1 just provides guidance on the presentation of Financial Statements(F/S) which focuses on the structure and all that;
IAS 2 provides guidance on the valuation of inventory, which is an easy thumbrule,;
And IAS 7 isn't related to 'Cash Flow Budgeting', it is related to provide guidance on the preparation of 'Cash Flow Statement'.
'Cash Budget' is a forecast for the cash levels of the next coming months according to the expected level of demands,expected commitments,and periodic costs etc, where as 'Statement of Cash Flows' is prepared to reconcile the opening cash balance of the YEAR and the closing balance of the YEAR and it is part of the complete set of the Financial statements prepared at year end.
And IAS 37 is lengthy and technical for a newbie having little accounting background, however it provides guidance on Provisions, Contingent Liabilities and Assets.
brother that is what i was saying that is why i referred IFRS book from pAC that is summary of IAS or even a person can get a bit of knowledge that is required from any expert in a day or two that is simple and easy way
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Old Wednesday, August 15, 2012
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Originally Posted by shah View Post
brother that is what i was saying that is why i referred IFRS book from pAC that is summary of IAS or even a person can get a bit of knowledge that is required from any expert in a day or two that is simple and easy way
yeh it would be fine, though I dont know about the book you're suggesting but for CSS it would be enough. However if someone needs a link to study about IAS's or IFRS's so here it is : http://http://www.iasplus.com/en/standards
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  #9  
Old Monday, August 20, 2012
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Quote:
Originally Posted by Syed Azmat View Post
I am a newbie here, but I think questions in CSS dont require a complete knowledge of an individual IAS as it requires alot of skill.
IAS 1 just provides guidance on the presentation of Financial Statements(F/S) which focuses on the structure and all that;
IAS 2 provides guidance on the valuation of inventory, which is an easy thumbrule,;
And IAS 7 isn't related to 'Cash Flow Budgeting', it is related to provide guidance on the preparation of 'Cash Flow Statement'.
'Cash Budget' is a forecast for the cash levels of the next coming months according to the expected level of demands,expected commitments,and periodic costs etc, where as 'Statement of Cash Flows' is prepared to reconcile the opening cash balance of the YEAR and the closing balance of the YEAR and it is part of the complete set of the Financial statements prepared at year end.
And IAS 37 is lengthy and technical for a newbie having little accounting background, however it provides guidance on Provisions, Contingent Liabilities and Assets.
if you are preparing it as well can you tell me about chapter of cash budgeting?
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  #10  
Old Monday, August 20, 2012
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if you are preparing it as well can you tell me about chapter of cash budgeting?
Budgeting is the head of Managerial accounting as it's prime responsibility lies with the management. IAS deals with External Accounting not internal one.

Cash budgeting is a form of budgetary control through which we manage cash inflows and outflows. Inflows might be sales, service revenue, subscription fees and others (you might have studied revenue models) and outflows ,might be Expenses, repayment of liabilities. a model of cash budget might be:

Cash at the start of month......... xxx
Add: inflows
- Sales .................................. xxx
-service fee etc ..................... xxx
Less: Outflows
-Expenses................................(xx)
- loan repayment.......................(xx)
Cash at month end ......................... xxxx.

For detailed study consult any B.Com book of cost accounting.
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