Program Announcement 2013 - 14 - Institute of Business ...

Description of CoursesACC315 Financial ReportingThis paper is an extension of the previous Financialaccounting paper. Financial statements are again themain feature of this paper with the inclusion ofConsolidated financial statements & additional conceptssuch as impairment of assets, Events after the reportingperiod & prior years' adjustments etc. Focused mustbe placed on practical application of IFRSs in themodern business environment.ACC320 AuditingThis course will provide an understanding of Auditingand it process. The role of, standard for, auditingcontinue to evolve. The traditional audit changes inresponse to factors such as technological advancement,the changing needs of users of financial information,regulatory changes and the increasingly litigiousenvironment in which the auditors practice. Theevolution of auditing stresses the importance ofprofessional judgment, a critical cognitive skill in thepractice of auditing.A basic premise of this course is that "concepts" and"procedures" are inseparable. It is difficult to knowwhen the concepts finish and procedures start. Asecond premise of this course is that the professionalmust begin with concepts and end with proceduresand that is the whole idea of this course.ACC381 Managerial AccountingThe aim of this course is to equip students with themanagerial accounting concepts and techniques usedfor sound business decision-making. Modules offeredinclude basic cost accounting concepts, their natureand behavior, cost-volume-profit relationships,absorption and variable costing, relevant costs &differential analysis, standard costing and varianceanalysis, gross profit analysis and capital budgetingtechniques.Prerequisite: ACC201ACC401 Advanced Financial ReportingIn this paper students are expected to demonstrateapplication of Accounting for Leases, treatment ofdeferred & current taxes, Intangible assets & borrowingcosts in the Financial statements as per IFRSs. Themost important sections of this paper is the practicalknowledge of Business combinations & preparationof Consolidated Financial statements after accountingfor all acquisition adjustments.ACC415 Actuarial CoursesThis introductory course about actuarial sciences startsfrom firm foundation in Mathematics and then movingon to other actuarial courses which ranges fromEconomics, Finance, actuarial models andcontingencies. Students are advised to possess goodknowledge of general and applied mathematics andstatistics before taking this course.ACC505 Accounting for Decision MakingThis course is designed to provide future businessexecutives with the fundamentals and skills of analyzingand using accounting information for managementdecision-making, planning and control. Topics includeunderstanding and analysis of financial statements,information management and reporting. Besides, thecourse focuses on cost and managerial accountingconcepts and techniques including cost volume profitanalysis, capital budgeting, responsibility accounting,relevant costing, balanced scorecard, transfer pricing,internal control, flexible budgeting and financialmeasures of performance evaluation for enhancingorganizational capabilities.Prerequisite: ACC506ACC506 Financial Accounting and Information SystemsThis course is designed to provide future businessexecutives with knowledge on the importance ofaccounting in business decision-making. It also aimsto develop an in-depth understanding of fundamentalaccounting principles and concepts including theaccounting equation, the accounting cycle, financialstatement preparation and analysis, inventorymanagement and receivables / payables for budgetingin business organizations. Finally, it provides an insightinto the key role of modern accounting informationsystems in information management for businessorganizations.ACC507 Accounting Information Systems -For Smalland Medium EnterprisesThis course is fully SAP integrated course which coversfundamentals of SAP financial accounting FI,Managerial accounting CO, Material management MMand Sales & distribution SD. The AIS course is differentfrom other basic accounting courses in that it focuseson the processes and the working and interaction ofvarious organization elements rather than theaccounting information itself. As against the traditionalAIS curriculum, this course is more focused on businessprocesses in SAP with minimum discussion of thetechnical aspects of systems development. The courseis delivered with hands on experience on SAP.ACC557 Auditing Theory & PracticeThe objective of the course is to develop a frameworkfor determining the nature and scope of the auditingprocess applicable in different environments. Thecourse focuses on international standards of auditing,techniques for investigation, verification, interpretationand appraisal of accounting information and financialstatements, together with accountability and ethicalissues.ACC559 IFRS & Financial Reporting in PakistanThis course starts with the appreciation of theFramework for Preparation and Presentation ofFinancial Statements as approved by the InternationalAccounting Standards Board. The course goes on to129