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#1
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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 |
#2
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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 . |
The Following User Says Thank You to shah For This Useful Post: | ||
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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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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anum S (Monday, August 13, 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 |
#6
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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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website for IAS's and IFRS's
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#10
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@Anum S
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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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