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MOHIUDDIN Wednesday, August 24, 2005 06:33 PM

Accounting and Auditing
 
SALAM.

I feel that one major problem confronted by our honorable youngsters is to find the study material. Here is some of the sources relating to my subjects. Seniors are requested to come up with authentic study material regarding their own subjects.

[SIZE=3]ACCOUNTING AND AUDITING[/SIZE]

FINANCIAL ACCOUNTING

1 Gani & EJAZ's Principles of accounting and Advanced Accounting (Final accounts, Partnership, Bank reconciliation, Non-profit organizations and capital and revenue)
2 Meigs and Meigs' Accounting-basis for business decision (Chapter 1 to 5)
3 Shukla's Financial Accounting 1 (Additional practice)

COST ACCOUNTING

1 Matz & usury's Cost accounting (chapter 1 to 6) and standard costing, budgeting, by-product costing and marginal costing
2 HILTON's managerial accounting (Additional practice and theory for objective type preparation) standard costing, marginal costing, process costing, budgeting, LIFO and FIFO.

AUDITING

Khawaja Amjad Saeed's AUDITING.(only the topics indicated in syllabus)

TAXATION

mohammad moazzam mughal's INCOME TAX (only the sections mentioned in the syllabus)

BUSINESS ORGANIZATION

INTRODUCTION TO BUSINESS by saeed nasir.(only related topics)


(I will provide details of some more subjects as soon as i am able to finalize the the material sources.)

ziabacha Thursday, November 10, 2005 03:01 PM

Dear,
Thanks for your worthy suggestions. If you can please give some tips regarding statistics; its course material/books etc.

Good luck
zia

lonely capricorn Thursday, June 01, 2006 06:21 PM

thanking u
 
thank u for mentioning these books
what books should u suggest beside these:unsure:

iftikhar bhatti Monday, April 16, 2007 08:44 AM

well guy iwill also adopt these books for my future ok thanks plz give me detail of other books

nkv Monday, May 28, 2007 01:20 PM

thanks for this ... thanks alot ....
but can u guide me is it scoring subject ?

Lucky_Vicky Friday, July 06, 2007 11:39 AM

It is a Scoring Subject compare to other subjects from that group (A)

danish salim Sunday, July 08, 2007 12:59 AM

Fight Back
 
[B][FONT="Times New Roman"][SIZE="4"][COLOR="Blue"]
Thanx for such a valuable material, but still I need more, plz share with me all you have and get some in return....!![/COLOR][/SIZE][/FONT][/B]

Usman Naseer Tuesday, October 16, 2007 12:28 PM

Comparison of CSS with CA/ICMA Exams
 
I would ask about the way of preparation (for Accounting Paper only)

Can we compare ICMAP or ICAP (Chartered Accountancy) examinations with CSS? if yes, so than can we adopt the same procedure for preparation of Exam?

As far as my experience of ICMA is concerned, in ICMA Exam we have to write to-the-point in descriptive questions, and Descriptive in numerical questions, where as in CSS it seem to be more theoretical and lengthy answers are required, am I right?

Please help me and guide me, ALLAH may help you and guide YOU.

green2 Tuesday, December 11, 2007 02:06 AM

Dear All,

Anybody can plz tell me that
1.do v need to prepare process costing in full detAils including FIFO and WEIGHTED avg method..and all other things e.g ab.loss and normal loss simultaneously...etc
2.v same question is for STANDARD Costing..mean to say all variances including SALEz variance or only MAT,LAB,FOH variance will b sufficient
3.in advance ACC same question is for PARTNERSHIP acc..how much details we need to cover for the said topic????

Kindly answer me if anybody have it.

Regards,

Saeed

shakeel shaikh Tuesday, December 11, 2007 02:32 AM

yes indeed
 
process costing & standard costing are the 2 main components of cost accounting i believe there is nothing that could be skipped in these 2..u better study them in detail...... and im surprised what can be left unstudied in partnership accounting as we almost cover everything in previous studies like bcom etc.... so brother u better study these topics in detail

Raz Tuesday, December 11, 2007 10:17 AM

consesus ad idem from my side for shakeel's view point.

Ahson Tariq Tuesday, January 22, 2008 10:52 PM

[CENTER][B][SIZE="4"][COLOR="Navy"]AAB RESOURCE CENTER
ONLINE RESOURCES FOR
ACCOUNTANCY, FINANCE AND AUDITING
STUDENTS AND PROFESSIONALS[/COLOR][/SIZE][/B][/CENTER]

[b][url="http://www.aabaig.com/resource/index.php?c=2"]AUDIT AND ASSURANCE[/url][/b]

* [url="http://aabaig.com/resource/viewforum.php?f=3"]Statutory Audits - Auditing Standards, Audit Programs, Checklists, Audit Risk Assessment and Control.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=5"]Internal Audits and Internal Control Systems Reviews - Audit Work Programs, Internal Control Questionnaires, Checklists, Internal Control Risk Assessment.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=34"]Information Systems Audit and Information Systems Controls Reviews - Guidelines, Standards, Procedures, Audit Programs, Checklists.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=11"]Corporate Investigations and Business Fraud Risk Assessments - Investigative Audits, Fraud Investigations, Fraud Risk related resources.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=12"]Sarbanes-Oxley Compliance - About SOX, Challenges, Issues and related Articles.[/url]


[b][url="http://www.aabaig.com/resource/index.php?c=4"]ACCOUNTING AND FINANCE[/url][/b]

* [url="http://www.aabaig.com/resource/viewforum.php?f=13"]Bookkeeping, Financial Accounting and Financial Reporting - IAS / IFRS, Finance Accounting and Financial Reporting Issues and related articles.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=14"]Cost, Management Accounting and Managerial Finance - Budgeting, Standard Costing, Process Costing, Activity-based Costing, Decision Making, etc.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=15"] Accounting Softwares - Articles and Reviews of some of the best local and international accounting softwares.[/url]


[b][url="http://www.aabaig.com/resource/index.php?c=8"]CORPORATE LAW AND TAXATION[/url][/b]

* [url="http://www.aabaig.com/resource/viewforum.php?f=26"]Company Law and related matters - Incorporating / setting up a Company, Filing of Returns, Statements, Corporate Issues.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=24"]Direct and Indirect Taxes - Income Tax, Sales Tax, Federal Excise Duty, Customs Duty.[/url]


[b][url="http://www.aabaig.com/resource/index.php?c=5"]ISLAMIC BANKING, FINANCE AND INSURANCE - The new buzz word all across the financial globe[/url][/b]

* [url="http://www.aabaig.com/resource/viewforum.php?f=16"]Islamic Banking and Finance - Introduction, Issues and Challenges. What is Islamic (Riba-free) Banking and Islamic Finance? Issues and Challenges related to Islamic Banking and Finance.[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=18"]Takaful - Islamic Insurance | What is this 'Takaful' which is replacing the term 'Insurance' east to west?[/url]

* [url="http://www.aabaig.com/resource/viewforum.php?f=19"]Shariah Rulings / Fatwas - On Accounting, Banking, Finance, Insurance and Related Issues[/url]


[b][url="http://www.aabaig.com/resource/index.php?c=11"]STRATEGIC BUSINESS MANAGEMENT | Resources for Entrepreneurs and Strategic Level Personnel helping them to run their business better.[/url][/b]

*[url="http://www.aabaig.com/resource/viewforum.php?f=36"]Articles, Technical Reports, Research Reports and Discussion Papers - related to a variety to topics covering Strategic Business Management.[/url]

pakfame Saturday, February 23, 2008 03:56 PM

More Books for Accounting
 
[COLOR="blue"][B][CENTER][SIZE="5"]Cost Accounting[/SIZE][/CENTER][/B][/COLOR]
Cost Accounting: A Managerial Emphasis
by Charles T. Horngren, George Foster, Srikant M. Datar

Cost Management: Strategies for Business Decisions
by Ronald W. Hilton, Frank H. Selto, Michael W. Maher, Frank Selto

Cost Management: Accounting and Control
by Don R. Hansen, Maryanne M. Mowen

Cost Accounting
by Michael R. Kinney, Cecily A. Raiborn, Jenice Prather-Kinsey

Fundamentals of Cost Accounting
by Michael W. Maher, Shannon W. Anderson, Shannon Anderson, William N. Lanen

Introduction to Management Accounting
by Charles T. Horngren, Gary L. Sundem, William O. Stratton
-----------
[CENTER][COLOR="Blue"][SIZE="5"][B]Financial Accounting[/B][/SIZE][/COLOR][/CENTER]
Accountants' Handbook, Volume 1, Financial Accounting and General Topics, 11th Edition
D. R. Carmichael, O. Ray Whittington, CPA, PhD, Lynford Graham

Accounting Best Practices (5th Edition)
Steven M. Bragg

Principles of financial accounting / Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel.

Mubashira Khanum Tuesday, April 22, 2008 02:43 PM

Thanks for sharing your knowledge
 
Salamz
I hav completed my hons BBA-IT recently nd im confused for opting accounts audit and taxation as a single subject coz i havent studied taxation,what do u suggest if it is easy to prepae with my knowledge of accounts and finanace.
Regards

Usman Naseer Wednesday, April 23, 2008 08:49 AM

Accounting and Auditing as Optional Subject
 
@Mubashira Khanum
confused for opting accounts audit and taxation as a single subject coz i havent studied taxation,what do u suggest if it is easy to prepae with my knowledge of accounts and finanace.

In my opinion, you must opt Accounting and Audit, because of following reason
> its among top scoring subject
> Syllabus is smiler to BBA if except TAX
> Taxation: Read Tax as per syllabus and [B]Learn how to Calculate Taxable Income[/B],
> for Tax I have read (sections provided in Syllabus from only 1 book) Synopsis of Tax by Munawar Hussain.

Good luck

Artemis Friday, May 16, 2008 01:53 AM

Isn't there a single book?
 
Well i have studied Meigs n Meigs along with Frankwood and I think they are real popular books of accounting. While going through the syllabus I find all the topics familiar and feel like I have covered them in different ACCA exams. I just want to ask you guys isn't there any single book covering all the topics from syllabus. Moreover there is always question of USA and UK standards and obviously there are local standards.

Usman Naseer Friday, May 16, 2008 08:50 AM

Meigs n Meigs and Frankwood
 
@ms.bushra

you are absolutely right to rank Meigs n Meigs and Frankwood, realy they are very popular books for Accounting specially Meigs, being a student of ICMAP "it is said to be bible of accounting".

Personally I prepared myself form these books + Matz & uzry for Cost Accounting + synopsis of Tax for Taxation. and I felt CSS Accounting papers very easy, lets see the result.

Artemis Monday, May 19, 2008 08:04 PM

@usman
 
Well do tell me about the results since I still have to attempt. I think will prefer to study from the books I have already gone through. From the syllabus I find Taxation a hell boring. I opted for local variant of taxation in ACCA and it made me to go through countless attempts. :D

I think Pakistani taxation system is easier and simple as compared to UK system since they are not in habit of changing rules then and often and they have devised all the details for the system. Still passing rate in local taxation is quite low as compared to UK. This may be because of the local examiner's approach. They are in habit of giving students tough time.

jhani_ustad Saturday, June 21, 2008 04:26 PM

can anyone tell me that solved papers(previous) of accounting is available in market.

Surmount Saturday, June 21, 2008 05:15 PM

[QUOTE=jhani_ustad]can anyone tell me that solved papers(previous) of accounting is available in market.[/QUOTE]


Dear you can request the papers over here, on Forum however, @


explore

[url]http://www.cssforum.com.pk/css-past-papers/css-past-papers-2007-1971/css-2007-past-papers/13211-accountancy-auditing-papers-2007-a.html[/url]

For requesting

[url]http://www.cssforum.com.pk/css-past-papers/css-past-papers-2007-1971/css-2007-past-papers/15798-request-papers-here-3.html#post92519[/url]



however, you can find ones in market easily. Solved as well as Unsolved ones.


Regards
Surmount

Omer Sunday, June 22, 2008 01:08 AM

@ ms. bushra

If u have gone through ACCA Part 2, CSS accounting paper would be very basic for you. Even a CAT student can do it. Except, local tax. Bt if u hav opted tax in Part 2, it would also be very easy for u.

Regards

jhani_ustad Sunday, June 22, 2008 01:40 PM

[QUOTE=Surmount]Dear you can request the papers over here, on Forum however, @


explore

[url]http://www.cssforum.com.pk/css-past-papers/css-past-papers-2007-1971/css-2007-past-papers/13211-accountancy-auditing-papers-2007-a.html[/url]

For requesting

[url]http://www.cssforum.com.pk/css-past-papers/css-past-papers-2007-1971/css-2007-past-papers/15798-request-papers-here-3.html#post92519[/url]



however, you can find ones in market easily. Solved as well as Unsolved ones.


Regards
Surmount[/QUOTE]
sir i hav past papers but these papers are unsolved.and i want solved papers.if u know then tell me the name of book.

Artemis Monday, June 23, 2008 08:03 AM

@ Omer
 
Well if you have an accounting background then why didnt you go for Mercantile Law?I have seen your optional subjects from your profile. Actually I selected it since I think it is covered in ACCA Corportae and Business Law. Just want to know is there any probelm attempting it?

Omer Monday, June 23, 2008 09:52 AM

No there is no such problem in its selection.. It's a good scoring subject. But all depends on ur apptitude to a subject also. I m ot much inclined to it. Though it's a scoring subject.

sidrra Friday, February 20, 2009 10:07 AM

auding n taxation
 
thanks mohi coz of u i have got some idea of watt to go for........
well i have read all others during ma mba n bba
but nothing about taxation or auditing i have read.......... n would the paper be bookish or general as i expectit to be.............

Raz Friday, February 20, 2009 10:44 AM

For Taxation: Practice calculation of taxable income of a salaried individual. Income Tax by Muhammad Muazzam Mughal
And just go through some relevant sections from IT ordinance.

For auditing: Read 4 S series Pettiwala: 1) Auditing for B.Com
Auditing is very easy because some key questions are repeatedly asked.

There is nothing in these subjects which could be general. Both of the subjects are to the point, koee jagha nahi kahani dalni ki yahan.

Humble Shakeel Saturday, February 21, 2009 01:11 AM

Help in selecting Auditing/Accounting
 
Dearest All,
I wanna know that i studied upto CMA Stage-3, is it easy for me(as it look like) as Umair bhai said about paper.
wat kinda papers it is and how many things are to be disscussed in it. plz Guid. thanx

Raz Saturday, February 21, 2009 01:23 AM

[QUOTE=Humble Shakeel]Dearest All,
I wanna know that i studied upto CMA Stage-3, is it easy for me(as it look like) as Umair bhai said about paper.
wat kinda papers it is and how many things are to be disscussed in it. plz Guid. thanx[/QUOTE]

1) Financial accounting
2) Cost accounting
3) Auditing
4) Taxation
5) Business organization


These are the subjects which we are required to cover.

Financial accounting: Final accounts, Ratio analysis, Budgeting, Partnership, Single entry, and Income & Expenditure, receipt & payment accounting.

Cost accounting: Process costing, Job order costing, standard costing.

Auditing: Internal audit, external audit, interim audit, final audit, statutory audit. Fraud, auditors responsibilities. Some practical audit techniques in given scenarios,

Taxation: Calculation of Taxable income other than company, and some relevant sections of ITO. Self assessment scheme.

Business organization: Sole proprietorship, Partnership, Joint stock Company, Business combinations.

These are the major topics in this paper. Now decide about your option. Also go through past papers to assess the level of paper.

Purab Sarhan Friday, July 31, 2009 12:55 AM

@ Raz
 
Raz you know what I am beginning to be your fan somehow. Alas there is no "I am his fan" button on this forum:) . Please, my off the topic post be excused.

r.i.p Tuesday, August 11, 2009 10:05 AM

help needed
 
Hellow frnds...
I am apperaing in CE-2010...
I have opted for Accounting & Auditing as my optional subject..
Though i dont have an accounting educational background but i have studied a bit of it....
I need help regarding following yopics:
1) Budgeting
2) Taxation
3) Business Organization

I would love to hear from you soon ....
Thnks seniors for all the books they have referred....

Omer Tuesday, August 11, 2009 01:06 PM

@r.i.p

Dear, if you don't have an accounting background I would suggest you not to adopt it. It is very technical subject and its technicalities may lead to lose considerable marks. As you have studies only a little bit of it, it will take significant time to grasp the advanced concepts for you.

Instead, I would advise you to go for some other general subject which can be prepared without any background in it like sociology, journalism and geography.

Moreover, please skim through the past papers of these subjects and you would be able to decide yourself.

Kind Regards

Adeelk Saturday, August 15, 2009 11:00 PM

well my question to you all is that , the accounting in css is on the american standards or international(IFRS) , i was going through the syllubus and it give me idea that its american based , because meigs and meigs is .

fluent_20 Friday, August 28, 2009 11:41 PM

Dear omer plz help...
 
dear aslam o alaikum , hop u all will b in the best of your health,
it is good to see an ACCA fellow here, im also doing ACCA,
i hav opted accounting and auditing as my optional , but one of my teachers told me that there lies difference bw UK n pakistani standard of accounting , bcoz we follow indian authors .As senior member u will b well acquainted either there are the differences or nt ? secondly hw much time is required to complete preparation for this paper once ACCA PART 2 is completed,

MAHIKAN Sunday, September 06, 2009 03:27 PM

can any1 tell me i did b.com so i studied almost all above books as prefeered some topics of accounts are :fifo lifo. average.j/v.consignment.royalty.debentures. depreciatin.partnership.bank reconcillation.cost of goods sold.work sheet trial balance.factory overhead. i did all these what u think am i eligible for this subject .and the other parts i know in very detail.. but stiilll i want suggestions is it ok for syllabus of part 1 paper of accounts............. plz if posssible reply on my id...

hotangeleyes Thursday, October 08, 2009 11:45 PM

can seniors please guide me thorough. PAPER 1 OF AUD AND ACC JUST CONSISTS OF FINANCIAL ACCOUNTS OR FINANCIAL AND COST ACC BOTH ???

adib Friday, October 09, 2009 07:26 PM

For all
 
[QUOTE=hotangeleyes;145594]can seniors please guide me thorough. PAPER 1 OF AUD AND ACC JUST CONSISTS OF FINANCIAL ACCOUNTS OR FINANCIAL AND COST ACC BOTH ???[/QUOTE]

Well, in Paper-I, there is a question regarding Cash budget, that is a pure

Management Accountancy and get you 20 to 25 marks, if u are able to solve

it with an intended approach.

For Accounting & Auditing one should have good knowledge of it. Besides,

Management Accounting is also supposed to be a secondary stage of Cost

Accounting.

Those who have Bechalor in Commerce, may also opt this subject because of

it is cosist of Final Accounts, Depreciation, Fundamental concepts of

Financial Accounting, Cost Accounting, Auditing, Business Taxation.

Advantage: In these papers, one have an advantage of selecting questions

from those topics that have been studied in B.com/BBA/ICMAP/ACCA/ICAP,etc

. If you do not have an intended approach at Management Accountancy's

topic that is given in the paper-I, it's upto you to go for another choice.

Is it scoring?

Yes, it is, if you have broad knowledge and practice, you can get more than

150 out of 200. We have so many exmaples like Mr.Fida Hussain Shah.

Befor selecting this subject as optional, you must go through the past paper

to make a favourable decision.

hotangeleyes Sunday, October 11, 2009 04:35 PM

do the seniours think that the books
GANI ADN EJAZ PRINCIPLES OF ACCOUNTING
MEIGS AND MEIGS ACCOUNTING BASIS
SHUKLA FINANCIAL ACCOUNTING

are these books enough for paper 1 of the accounting and auditing
and for
PAPER 2

COST ACCOUNTING

1 Matz & usury's Cost accounting (chapter 1 to 6) and standard costing, budgeting, by-product costing and marginal costing
2 HILTON's managerial accounting (Additional practice and theory for objective type preparation) standard costing, marginal costing, process costing, budgeting, LIFO and FIFO.

AUDITING

Khawaja Amjad Saeed's AUDITING.(only the topics indicated in syllabus)

TAXATION

mohammad moazzam mughal's INCOME TAX (only the sections mentioned in the syllabus)

BUSINESS ORGANIZATION

INTRODUCTION TO BUSINESS by saeed nasir.(only related topics)
DOES IT COVERS EVERYTHING IN THE EXAM

bunko Sunday, October 11, 2009 05:08 PM

Oh yes ! These books are more than enough to get excellent marks.

Shukla is Excellent book, I think shukla is enough to get 80 marks in paper : 1

hotangeleyes Sunday, October 11, 2009 05:24 PM

And what about paper 2

????

adib Sunday, October 11, 2009 07:26 PM

@ hotangeleyes and moderators
 
[QUOTE=hotangeleyes;146169]And what about paper 2

????[/QUOTE]

Yaar, the books that have been mentioned as above are quite enough to get good score in either papers.


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