HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

BS Accounting and Taxation

HAILEY COLLEGE OF

COMMERCE UNIVERSITY

OF THE PUNJAB LAHORE

Page 1 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

University of the Punjab
Curricula/Syllabi of BS-Accounting and Taxation

Program Title: BS-Accounting and Taxation

Department: Hailey College of Commerce
Faculty: Faculty of Commerce

1. Introduction

Hailey College of Commerce was established in 1927 to provide business and commerce

education. HCC contributed a lot to the society by creating quality human capital since its

inception and produced well-known personalities at national and international forums. It

provides a friendly and enabling working environment that promotes learning and knowledge

sharing opportunities for students through creative thinking. It has earned national and

international repute for its teaching, research and community services. Continuous

improvement of programs and courses helps the HCC to be competitive by anticipation and

reflection of evolving business and commerce trends. Faculty and management at HCC

emphasized projects and teamwork that make learning a challenging and stimulating

experience to develop a sense of positive competition, personal initiative and communication

skills among graduates. The institute has been a leader in providing education in the domains

of commerce, with specialized focus on accounting, finance, auditing, and taxation.

Currently, the College offers following full-time degree programs according to HEC and

NBEAC guidelines:

● Associate Degree in Commerce

● Associate Degree in Accounting and Finance
● B. Com (Hons.)
● BS Accounting and Finance
Page 2 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

● M. Com
● M. Phil (Commerce)
● Ph. D (Commerce)
Moreover, professional diplomas and certificates are also offered in addition to various

skill-oriented courses and training programs. It has diversified and qualified faculty including

20 full-time PhDs along-with state-of-the-art classrooms, a dedicated library, fully-equipped

computer labs and other facilities.

Introduction

BS Accounting and Taxation program will provide in-depth knowledge of Accounting and

Taxation domain by blending theoretical understanding and practical training to cope

with the emerging challenges in a creative way. The program could help aspiring

professionals to develop creative thinking for strategic decisions at various organizational

levels. Considering the need for specialization and rising demand of taxation services in

Pakistan, it is high time to launch a degree on accounting and taxation. The degree would

offer unique combination of accounting and taxation knowledge in line with modern realities

of business practices in Pakistan. The degree would seek to establish its recognition with

professional bodies of accountancy and taxation and would follow recommendation of ICAP

and Tax Bar Association of Pakistan to design courses and teach students. After graduating,

the students would be able to work with accounting and taxation consultancy firms and would

also be able to pursue independent career as ‘Tax Practitioner’ in Pakistan. The proposed

program consists of 42 Courses (136 credit hours) with a time period of four years. Suggested

title of degree program is BS – Accounting and Taxation. It would be an eight semesters-136

credit hours degree program. Students enrolling in the course would be required to study 42

courses of 3 credit hours each in first 7 seven semesters of the program. A complete 6-month

internship in eighth semester (6 credit hours) is also an integral part of the course. Further,

students would also be required to do volunteer work/ community service during their regular

Page 3 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

semesters. A total of one week (32 Hours) volunteer work/ community service will be

required in each of the semester.

BS-Accounting and Taxation program specifically focuses on the practical aspect of the

accounting and taxation education. Special focus is levied on the accounting and taxation

practice and relative legislation and procedure in the country. The contents of specialized

courses relating to financial accounting and reporting, auditing, cost accounting, taxation,

corporate law, and financial management are ratified by the professional accounting

association including ICAP, ACCA, ICMA, and CIMA. Specialized courses on taxation are

ratified by Pakistan Tax Bar Association. The syllabus is designed in a way to improve

recognition of program from these professional associations. Special consideration is given to

tax legislature, rules, and practices in the country. A course on taxation practices in Pakistan

deals with e-filing mechanism, process of filing tax returns, assessments, and related appeals.

Moreover, the program also incorporates contemporary issues and various forms of taxation

with specific focus on Pakistan.

2.1 Value of the Program

BS-Accounting and Taxation is being launched as a specialized degree program. It would

focus on the domains of Accounting and Taxation to impart specialized technical education

aligned with the practice. Students graduating from this program would have a more detailed

and practical knowledge of the domain of Accounting and Taxation, and they would enjoy

greater market acceptability. Further, practical training at the end of program would provide

practical exposure to the students. Students would learn to relate to the practical world and

make career choices in a manner which would be more effective and practical.

This program would enjoy greater recognition from professional associations like ICAP,

ACCA, ICMA, CIMA, and Tax Bar Association. Students graduating from this program

Page 4 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

would be able to obtain exemptions from these professional bodies and pursue a better career

in the field.

An associated objective of this program is to bring public service orientation to the academia

in Pakistan. Students would be required to do volunteer work/ community service during all

of their semesters. This would invoke public service orientation in the students for the

betterment of the society on the whole.

Alignment with University Mission

The proposed program is aligned with the University mission to produce quality human

capital with appropriate knowledge and skills. The mission is to provide education for

two-fold benefit i.e. young people are nurtured to be sensitive, tolerant, skilled and capable of

thinking in a creative and critical way. It enables to meet the local, regional and global

emerging demand of professionals equipped with knowledge and leadership potential for

individual and collective well-being. The program is directly associated with the mission and

the vision of HCC that is consistent and aligned with the university mission being

complementary to each other.

Objectives

1. To equip the graduates with appropriate theoretical knowledge and practical skills in

the field of accounting and taxation at local, regional, and international fronts.

2. To develop creative, critical and innovative thinking by exploring solutions for

complex, dynamic and emerging accounting and taxation problems.

3. To equip the graduates with emerging technology and software for modern accounting

and taxation practices.

4. To promote entrepreneurial spirit and passion for graduates to become practical tax

related problems solvers/tax practitioners.

Page 5 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5. To encourage research-oriented learning and knowledge sharing aptitude for

market-driven initiatives.

eed / Rationale of the Program

5 (a) Potential Students for the Program

HCC aims to offer BS Accounting and Taxation to meet emerging needs of business and

corporate world due to digitization, competition and globalization. Most of the current

conventional degree programs offered by universities lack a strong emphasis on professional

training and skill enhancement. The proposed program is designed for students who want to

equip them for appropriate conceptual, theoretical, skill-oriented and practical aspects in the

field of accounting and taxation after doing intermediate qualification. It will provide a

learning opportunity to students those want theoretical understanding of contemporary

knowledge in accounting and taxation and its application in the real-life situations. The

program will also provide an ample opportunity to build key management skills such as

decision making, communication, rational thinking, analytical, intuitive and independent

action through group activities, discussions, brainstorming sessions and individual

presentations. It incorporates current and emerging trends in the said discipline by covering

both aspects i.e. theory and practice to provide the research-led knowledge and practical

skills that are required by companies, employers and for entrepreneurial activities.

5 (b) Potential Employers

Potential Employers of graduating students will be public sector and private sector

organizations in addition to self-employment at local, regional and international levels.

Graduates will be equally competent to meet the demands of job market at all forums and all

levels due to built-in-skills and practical knowledge acquired at HCC. BS Accounting and

Page 6 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Taxation will attract a broad range of tax practitioners and academicians from the corporate

world, allowing students to benefit from their expertise throughout their studies. The program

could help to strengthen academia-industry linkages through variety of interactions and

events of mutual interest e.g. guest speakers; individual and group interactions, workshops

and site visits. Activities will be organized to allow the engagement of students with

practitioners and to facilitate networking with industry experts to have strong relationships

with companies. These relationships could help to design and deliver the requisite skill-set to

provide opportunities for placements and employment. Moreover, this program could provide

a platform and an opportunity to involve the people from chamber of Commerce and

Industry.

5 (c) Academic Projections

BS accounting and taxation could produce quality human capital to meet demands of local,

regional and international job market. Moreover, it also aims to develop entrepreneurial skills

and thinking among potential graduates to encourage self-employment and non-conventional

starts-ups. It will prepare the individuals for a wide range of business and professional

positions in public sector as well as private sector organization at various levels i.e. entry

level, lower management, middle management and even at top management of the corporate

entity. The potential graduates typically could take up roles as tax manager, tax practitioners,

analysts, facilitator or company representative in addition to traditional roles and

responsibilities. Moreover, professional career development support will be provided at

campus through active and enthusiastic careers’ services and career counselling. It could help

to gain the ‘competitive edge’ by offering CVs writing, mock assessment and interviews. The

program shall be introduced to the leading employers to develop linkages who regularly

recruit the graduates. Moreover, job fair and other initiatives may be used to seek career

opportunities and advancement in the existing position for potential graduates.

Page 7 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5 (d) Faculty

HCC has competent, experienced and capable faculty with diversified knowledge, exposure

and experience. It has 20 full time PhD faculty members and 4 faculty members with M. Phil

qualification (almost completing their PhD) that are working at almost all the academic

cadres. The faculty members at HCC have excellent capacity to deliver world-class

knowledge, skills and competencies to the students of undergraduate, graduate and

post-graduate program. Moreover, human, digital, technological and other resources are

sufficient at HCC to meet the emerging needs of the program.

5 (e) Physical Facilities

HCC has fully functional class rooms with appropriate facilities; beautiful and gracious

ground along with sports facilities; parking facility; cafeteria; photocopier; dispensary and a

number of allied facilities. It is worth mentioning here that college has sufficient library

equipped with modern facilities and enriched with large number of books, journals,

magazines, periodicals and newspapers. Moreover, HCC has three fully functional computer

labs for students include Lab 1 and Lab 2 having capacity of 70 PCs each and Lab 3 having

80 PCs. Similarly, digital and e-books section is also an added value at HCC that facilitates

the students and have sufficient capacity for the upcoming students. HCC also have

Executive Training and Development Centre and Hailey College Media Cell to provide

opportunities for professional excellence and career growth to the professionals and students.

n Eligibility Criteria

a. Eligibility
Intermediate or equivalent

b. Admission Criteria
As specified by PU/ HEC

c. Admission Formula
As per basic criteria by PU

Page 8 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

d. Duration of the Program

● Eight Semesters
● 4 Years
● 134 Credit hours

7. Categorization of Courses as per HEC Recommendation and Difference

Category (Credit Hours)

Major Minor Any Semester Load
Semester Courses Core Basic Electives Electives Other
Courses Courses

1 6 6 6 18 credit hours
2 6 6 6 18 credit hours
3 6 6 6 18 credit hours
4 6 6 6 18 credit hours
5 6 6 6 18 credit hours
6 6 6 6 18 credit hours
7 6 6 6 18 credit hours
8 Internship 6 credit hours
Quran &
4 credit hours
Sunnah
Total 136 Credit Hours
PU 42 136 Credit Hours
HEC 120 to 140 Credit
40-47
Guidelines Hours
Difference
Nil
PU & HEC

Page 9 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Scheme of Studies / Semester wise workload

8. Proposed Courses for BS Accounting and Taxation

# Code Course Title Course Type Prerequisite Credit hours

Semester I

1. BSAT-101
Functional English Compulsory 3 (3,0)
Accounting, Business and Society
2. BSAT-102 Compulsory 3 (3,0)
Quantitative Methods-I
3. BSAT-103 Compulsory 3 (3,0)
Principles of Economics
4. BSAT-104 Compulsory 3 (3,0)
Financial Accounting-I
5. BSAT-105 Compulsory 3 (3,0)
Islamic Studies
6. BSAT-106 Compulsory 3 (3,0)
Total Credit Hours 18
Semester II

1. BSAT-111
Business Communication Compulsory 3 (3,0)
Introduction to Information Technology
2. BSAT-112 Compulsory 3 (3,0)

3. BSAT-113 Quantitative Methods-II Compulsory 3 (3,0)

Foreign Language (Arabic)
4. BSAT-114 Compulsory 3 (3,0)
Financial Accounting-II
5. BSAT-115 Compulsory 3 (3,0)
Pakistan Studies
6. BSAT-116 Compulsory 3 (3,0)
Total Credit Hours 18
Semester III

1. BSAT-201
Income Tax-I Compulsory 3 (3,0)
Business Law
2. BSAT-202 Compulsory 3 (3,0)
Business Management
3. BSAT-203 Compulsory 3 (3,0)

Page 10 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Fundamentals of Cost Accounting

4. BSAT-204 Compulsory 3 (3,0)
Advanced Financial Accounting
5. BSAT-205 Compulsory 3 (3,0)
Banking Laws and Practice
6. BSAT-206 Compulsory 3 (3,0)
Total Credit Hours 18
Semester IV

1. BSAT-211
Income Tax-II Compulsory 3 (3,0)
Principles of Marketing
2. BSAT-212 Compulsory 3 (3,0)
Audit and Assurance-I
3. BSAT-213 Compulsory 3 (3,0)
Advanced Cost Accounting
4. BSAT-214 Compulsory 3 (3,0)

5. BSAT-215
Public Sector Accounting Compulsory 3 (3,0)

6. BSAT-216 Business Research Methods Compulsory 3 (3,0)

Total Credit Hours 18
Semester V
1. BSAT-301 Financial Management Compulsory 3 (3,0)

2. BSAT-302 Audit and Assurance-II Compulsory 3 (3,0)

3. BSAT-303 Financial Reporting-I Compulsory 3 (3,0)

4. BSAT-304 Management Accounting Compulsory 3 (3,0)

5. BSAT-305 Public Finance Compulsory 3 (3,0)

6. Sales and Excise Taxes
BSAT-306 Compulsory 3 (3,0)
Total Credit Hours 18
Semester VI
Organizational Behaviour and
1. BSAT-311 Compulsory 3 (3,0)
Human Resource Management
2. BSAT-312 Financial Reporting-II Compulsory 3 (3,0)

3. BSAT-313 Corporate Finance Compulsory 3 (3,0)

4. BSAT-314 ERP-I Compulsory 3 (3,0)

5. BSAT-315 Customs Laws Compulsory 3 (3,0)
Provincial Taxes
6. BSAT-316 Compulsory 3 (3,0)
Total Credit Hours 18

Page 11 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester VII

1. BSAT-401
Forensic Accounting Compulsory 3 (3,0)
Investment Analysis and Portfolio
2. BSAT-402 Compulsory 3 (3,0)
Management
3. BSAT-403
Professional Development Compulsory 3 (3,0)
ERP-II
4. BSAT-404 Compulsory 3 (3,0)
Entrepreneurship
5. BSAT-405 Compulsory 3 (3,0)
Seminars on Taxation Practices
6. BSAT-406 Compulsory 3 (3,0)
Total Credit Hours 18
Semester VIII
Six Months Internship with some
1. 6
accounting/ taxation/ consultancy firm
Total Credit Hours 6
Credit Hours 1st to 8th Semesters (124+6) 132
Quran and Sunnah 4
Total Credit Hours of the Program 136

9. Award of Degree
As per policy

10. NOC from Professional Councils (if applicable) N. A.

11. Faculty Strength

Sr. Name Designation Area/Specialization

No.

1 Dr. Mubbsher Munawar Professor & Dean

Marketing and Advertising
Khan

2 Dr. Zulfqar Ahmad Professor & HRM, Business Mathematics

and Statistics, Organizational
Principal Behavior

3 Dr. Hassan Mobeen Alam Professor Corporate Governance, Interest

free Banking, Business Ethics,
Banking Regulations and
Procedures

Page 12 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4 Dr. Sayyid Salman Rizavi Professor Econometric Modeling and

Financial Econometrics
5 Dr. Hafiz Zafar Ahmad Associate Professor Cost and Management
Accounting
6 Dr. Ashfaq Ahmad Bhatti Associate Professor Islamic Banking, Accounting,
Finance, Corporate Governance,
Research Methods, Project
Management
7 Dr. Ishfaq Ahmad Janjua Associate Professor Organizational Behavior,
Leadership, Strategic Analysis
and Entrepreneurship
8 Dr. Sh. Usman Yousaf Associate Professor Entrepreneurship and Marketing

9 Dr. Muhammad Ramzan Assistant Professor Business Management, Taxation,

Audit and Assurance
10 Dr. Ch. Abdul Khaliq Assistant Professor Entrepreneurial Leadership

11 Dr. Hafiz Abdur Rashid Assistant Professor Cost and Management

Accounting, Financial
Management
12 Dr. Majid Ali Assistant Professor Business Computing and
E Commerce
13 Dr. Sadia Farooq Assistant Professor Micro Finance and Operational
Research
14 Dr. Fouzia Ali Assistant Professor Research Methods and
Quantitative Techniques
15 Dr. Muhammad Usman Assistant Professor Corporate Finance, Financial
Accounting and Investments
16 Dr. Nisar Ahmad Assistant Professor Finance and Accounting

17 Dr. Muhammad Aamir Assistant Professor Financial Accounting, Financial

Reporting & Corporate Auditing
18 Dr. Rao Zia-ur-Rehman Assistant Professor Finance

19 Dr. Arslan Umar Assistant Professor Marketing

(IPFP)
20 Lubna Uzair Lecturer Micro and Macro Economic and
Financial Economics
21 Atiq-ur-Rehman Lecturer English Language

22 Dr. Haleema Tariq Lecturer Business Law and Corporate

Law
23 Tayyaba Yousaf Lecturer Finance

24 Ammara Khan Lecturer Islamic studies

12. Present Student Teacher Ratio at Hailey College of Commerce

Page 13 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Present Student Teacher Ratio at Hailey College of Commerce- 1:28

Page 14 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 15 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester Wise Course Outlines

Semester-I

Page 16 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Functional English

Course Code: BSAT-101 Credit Hours: 03
Program: BS Accounting and Taxation Semester: I

1.0 Introduction of the Course:

Page 17 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

The basic objective of this course is to enable students to communicate in English language.
This course focuses on basics of grammar and composition, sentence structure, vocabulary,
and reading comprehension. After studying this course, students would be able to
communicate in English in an effective manner. The focus of the course would be on English
reading comprehension and basic English writing skills.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required to take this course. However, students are expected to
have basic understanding of English language as taught in intermediate level.
3.0 Course Learning Outcomes:
1. Develop understanding on the actual use of Grammar, parts of speech, sentence
structure
2. Learning to use direct/indirect speech and active voice and passive voice
3. Learning to do punctuation
4. Building appropriate vocabulary and use of idioms
5. Improving reading comprehension
4.0 Course Contents:

Unit-I: Grammar
1.1 Basic Grammar and its use in English Language
1.2 Grammar for business English
Unit-II: Parts of Speech
2.1 Use of verbs
2.2 Use of adverbs
2.3 Use of nouns and pronouns
2.4 Use of adjectives
2.5 Use of proposition
2.6 Use of conjunctions and interjections
Unit-III: Rules of sentences
3.1 Understanding use and tone of declarative, interrogative, imperative, exclamatory, and
optative sentences.
3.2 Understanding use of simple, compound, complex, multiple, and conditional
sentences.
Unit-IV: Tenses
4.1 Use and application of tenses

Page 18 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.2 Present tenses, forms, and uses

4.3 Past tenses, forms and uses
4.4 Future tenses, forms and uses
Unit-V: Direct and indirect speech
5.1 Understanding direct and indirect modes of speech and their application.
5.2 Using correct verb and punctuation in direct and indirect speech.
Unit-VI: Active and passive voice
6.1 Understanding use of active and passive voice.
6.2 Ability to transform active voice to passive voice and vice versa.
Unit-VII: Punctuation
7.1 Understanding use of correct punctuation
7.1.1 Use of capital letter
7.1.2 Use of question mark
7.1.3 Use of exclamation mark
7.1.4 Use of full stop
7.1.5 Use of comma
7.1.6 Use of semi-colon
7.1.7 Use of colon
7.1.8 Use of apostrophe
7.1.9 Use of quotation marks
7.1.10 Use of brackets
7.1.11 Use of dash
7.1.12 Use of hyphen
7.1.13 Use of ellipsis
Unit-VIII: Vocabulary
8.1 List of 3000 basic words used in English
8.2 Ability to correctly assign meanings to a specific word and use it in different sentences
correctly.
8.3 List of synonyms and antonyms
8.4 Using words in sentences correctly
Unit-IX: Phases and Idioms
9.1 Meaning phases and idioms
9.2 List of phases and idioms
9.3 Learning to use idioms and phases in sentences
Page 19 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-X: English Comprehension

10.1 Developing basic English comprehension skills
10.2 Practicing reading English Paragraphs and answering questions correctly
10.3 Developing speed reading skills
10.4 Practicing reading lengthy paragraphs and identifying key points to answer the
questions
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. AFC 01- Functional English: Study Text by ICAP
2. Dictionaries, O. L. S. (2014). The Oxford 3000™.
9. Suggested Readings:
9.1 Books:
Wren, P. C., & Martin, H. (2000). English grammar and Composition. New Delhi: S
Chand‎& Company Ltd.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Accounting, Business and Society

Course Code: BSAT-102 Credit Hours: 03
Program: BS Accounting and Taxation Semester: I

1.0 Introduction of the Course:

Page 20 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

This course highlights scope of a business organization in the modern societies. It focuses on
various aspects of a business organization, where special consideration is given to the
accounting function and taxation aspect of a business organization. The course introduces the
students to business and its various aspects.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course.
3.0 Course Learning Outcomes:
1. Understanding nature and scope of modern business enterprise, its functions and
operations.
2. Understanding the functions of business enterprise in accordance with modern
day practice.
3. Develop a foundation for advanced learning in the domains of accounting,
taxation, business management, marketing, and finance.
4.0 Course Contents:

Unit-I: Business Enterprise and its Environment

1.1 Scope and functions of business enterprise
1.2 Micro and macro business environment and its relevance to business.
Unit-II: Economic System and International Business Environment
2.1 Factors of production
2.2 Economic system, types, and functioning.
2.3 Basics of demand and supply and price determination
2.4 Market economy vs controlled economy, implications for businesses
2.5 International business and modes
2.6 Functioning of international marketplace
2.7 Fundamentals of international trade
2.8 Globalization, its pros and cons
Unit-III: Ethics and Corporate Social Responsibility
3.1 Ethics, morality, and their relevance to modern society
3.2 Modern ethical dilemmas in business environment
3.3 Corporate social responsibility, business stakeholders, value of CSR
Unit-IV: Forms of Business Organizations
4.1 Sole proprietorship – nature, pros and cons
4.2 Partnership – nature, pros and cons

Page 21 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.3 Corporation – nature, pros and cons

4.4 Modes of business expansion - mergers & acquisitions, joint ventures, strategic
alliances, franchising internationalization, and multinational corporations.
Unit-V: Entrepreneurship and Small Business Management
5.1 Entrepreneurship – nature, value, and key elements
5.2 Qualities of an entrepreneur
5.3 Establishment and operations of small businesses
5.4 Business plan – key elements
5.5 Innovation and entrepreneurship
5.6 Financing small businesses - venture capital, seed funding, crowd funding, etc.
5.7 Going public (IPO) – reasons, pros and cons
Unit-VI: Business Management
6.1 Business management, its role, and functions - planning, organizing, leading and
controlling.
6.2 Roles and responsibilities of different levels of managers
6.3 Leadership and strategic decision making process
6.4 Competitive advantage – nature and sources
6.5 Motivation – theories and application
6.6 Change management and its process
6.7 Rewarding and reinforcing the performance
Unit-VII: Production and Operations Management
7.1 Systems view of the firm
7.2 Value chains and value webs
7.3 Elements of operations and production management
7.4 Service orientation and challenges to effective service delivery
Unit-VIII: Marketing
8.1 Marketing, its relevance to modern day business activities
8.2 Marketing mix – 4Ps
8.3 B2B and B2C marketing
8.4 Marketing strategies – how to devise them?
8.5 Digital marketing
8.6 Communicating with customers – Advertising and promotion, its modes, scope, and
challenges
8.7 Modes of advertisement - direct marketing, personal selling, and sales promotion.
Page 22 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

8.8 Social media advertisement and marketing

Unit-IX: Money, Banking, and Other Financial Institutions
9.1 Nature, uses and types of money
9.2 Macro financial environment - role of central bank, monetary policy, interest rate
9.3 Financial institutions, types, and role - banks, insurance companies, development
financial institutions, mutual funds, leasing companies, etc.
9.4 Organization of financial markets and system
Unit-X: Accounting
10.1 Role of accountants in business and society
10.2 Rules of Accounting – Double entry, single entry
10.3 Main Financial statements – uses and format
Unit-XI: Financial Management
11.1 Financial management in business organizations – role and functions
11.2 Financial objective of the firm
11.3 Financial markets, nature and types - stock market, bond market, money market,
capital market, over the counter market.
Unit-XII: Taxation
12.1 Taxation system – framework and legislation
12.2 Different types of taxes – Income tax, sales tax, excise, duties, tariffs and quotas etc.
12.3 Income tax - scope and framework
12.4 Sales tax – scope and framework
12.5 Corporate taxes – scope and framework
12.6 Federal and provincial taxes
12.7 Tax planning – scope, application, and ethical considerations

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %

Page 23 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Quizzes and Tests,

Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Bovée, C. L., Thill, J. V., & Schatzman, B. E. (2013). Business in action. Pearson.
2. Gitman, L. J., & McDaniel, C. D. (2000). The future of business. Cengage Learning.
9. Suggested Readings:
9.1 Newspapers and Magazines:

⮚ Business Recorder Daily

⮚ Pakistan and Gulf Economist

⮚ The Economist

⮚ Harvard Business Review

Page 24 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Quantitative Methods-I

Course Code: BSAT-103 Credit Hours: 03
Program: BS Accounting and Taxation Semester: I

1.0 Introduction of the Course:

This course is focused on the qualitative techniques that are useful in business education. The
course provides introduction of mathematical techniques that are applicable to business
scenarios.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course.
3.0 Course Learning Outcomes:
1. Provide students basic knowledge of mathematical tools applicable to business
scenarios.

Page 25 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2. Enable students to use mathematical tools in real business situations.

4.0 Course Contents:

Unit-I: Exponential and Logarithmic Functions

1.1 Exponents and their application in business and finance
1.2 Logarithmic functions and their application in business and finance
Unit-II: Equations and Inequalities
2.1 Straight line equations, their forms and their application in business
2.2 Simultaneous equations – linear and quadratic, and their application in business
2.3 Multiplication and division operations on linear and quadratic equations
2.4 Coordinate system and line inequalities and their graphical representation
2.5 Factorization of equations – solving quadratic equations through factorization and
completing the square method
Unit-III: Arithmetic and Geometric Progression
3.1 Application of arithmetic progression to business problems
3.2 Application of geometric progression to business problems
Unit-IV: Linear Programming
4.1 Application of linear programming using graphs
4.2 Identification of constraints, cost minimizations, profit maximization, redundant
constraints to solve programs
4.3 Use of corner point theorem
4.4 Analysis of graphical solution to see bounded or unbounded feasible regions
Unit-V: Basic Calculus
5.1 Rules for differentiation – Sum, difference, product and quotient rules
5.2 Application of differentiation techniques to calculate revenues, costs, and profits of
marginal units
5.3 Second order derivatives and their use – Calculation of maxima, minima, and point of
inflexion
Unit-VI: Matrices
6.1 Basic matrix algebra and its application – addition, subtraction, multiplication, and
division
6.2 Calculation of determinant, ad-joint, and inverse of matrix
6.3 Using matrix algebra for solution of simultaneous linear equations
6.4 Application of Cramer’s rule matrix inverse method

Page 26 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-VII: Financial Mathematics

7.1 Time value of money - Simple interest and compound interest and their calculation
7.2 Single sum – calculation of present value and future value through formula and
financial table
7.3 Annuity – Calculation of present value and future value through formula and financial
table
7.4 Ordinary annuity and annuity due and their calculation
7.5 Compounding more than once in a year
7.6 Perpetuity and its calculation
7.7 International rate of return (IRR) and its calculation – interpolation

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. AFC-03 Quantitative Methods – Study Text by ICAP
2. Barnett, R. A., & Ziegler, M. R. (1994). Essentials of College Mathematics for
Business, Economics, Life Sciences, and Social Sciences. Prentice Hall.
3. Budnick, F. S., Quinn, S., Bowser, K., & Flaherty, E. H. (1993). Applied mathematics
for business, economics, and the social sciences. Singapore: McGraw-Hill.

Page 27 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 28 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 29 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Principles of Economics

Course Code: BSAT-104 Credit Hours: 03
Program: BS-Accounting and Taxation Semester: I

1.0 Introduction of the Course:

This course provides an introduction to a broad range of economic concepts, theories and
analytical techniques. It considers both microeconomics - the analysis of choices made by
individual decision-making units (households and firms) - and macroeconomics - the analysis
of the economy as a whole. The use of a market, supply and demand, model will be the
fundamental model in which trade-offs and choices will be considered through comparison of
costs and benefits of actions. Production and market structure will be analysed at the firm
level. Macroeconomic issues regarding the interaction of goods and services markets, labour
and money at an aggregate level will be modelled. The role of government policy to address
microeconomic market failures and macroeconomic objectives will be examined.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course.
3.0 Course Learning Outcomes:
1. The objective of this course is to provide a basic overview of economic principles.
2. The course provides an overview of both micro and macroeconomics and its
relevance to economic credentials of a country.
4.0 Course Contents:

Unit-I: Basics of Economics

1.1 Definitions, scope and objectives, type of goods, four factors of production, economic
agents, consumption and production, specialization and division of labor, technology
and capital formation, micro and macroeconomics, income and wealth.
1.2 Basic understanding of economics, its terminology and scope.
Unit-II: Economic System
2.1 Their function, market, mixed, planned and Islamic economic system
2.2 Basic understanding of economic systems
2.3 Features of different economic systems and their comparison

Page 30 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.4 Pros and cons of different economic systems and their comparison with Islamic
economic system
Unit-III: Demand and Supply
3.1 Understanding definitions of demand and supply
3.2 Understanding laws of demand and supply, their assumption and limitations
3.3 Movements in demand and supply curves and factors behind these movements
3.4 Practical implications of laws of demand and supply
3.5 Relating to relationship between time and supply, reserve price, factors influencing
reserve price
Unit-VI Equilibrium of Demand and Supply
4.1 Understanding basics of market and market equilibrium
4.2 Determination of price equilibrium with schedule and graph
4.3 Understanding effect of change in demand and supply on market equilibrium
4.4 Understanding price equilibrium for perishable and durable goods
Unit-V Elasticity of Demand and Supply
5.1 Understanding price elasticity of demand and degree of price elasticity
5.2 Using different approaches to measure price elasticity of demand
5.3 Calculating income and cross elasticity of demand
5.4 Understanding concept of elasticity of supply and using percentage and graphical
method to measure elasticity of supply
5.5 Discuss determinants of supply elasticity
5.6 Applications of elasticity of demand and supply
Unit-VI Utility Analysis and Indifference Curve
6.1 Understanding utility, total and marginal utility
6.2 Understanding law of diminishing marginal utility with schedule and graph, its
assumptions, limitations, and practical relevance
6.3 Understanding law of equi-marginal utility with schedule and graph, its assumptions,
limitations, and practical relevance
6.4 Using indifference curve, budget lines, and studying consumer’s equilibrium using
indifference curve analysis
6.5 Understanding income effect, price effect, and substitution effect on consumer
equilibrium
Unit-VII Laws of Production
7.1 Explaining law of variable proportion and assumptions

Page 31 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.2 Explaining law of increasing returns and assumptions, applications and its impact on
cost of production
7.3 Explaining law of constant returns and assumptions, applications and its impact on cost
of production
7.4 Explaining law of diminishing returns and assumptions, applications and its impact on
cost of production
Unit-VIII Cost and Revenue Curves
8.1 Understanding cost of production, implicit and explicit costs
8.2 Understanding short run curves of total cost, total fixed cost, total variable cost,
average cost and marginal cost using schedule and graph
8.3 Derive long run average cost curve from short run average cost cover
8.4 Derive long run marginal cost curve from total cost curve
8.5 Understand economies and diseconomies of scale and their impact on long run costs
8.6 Understand marginal revenue, total revenue and average revenue
Unit-IX Firm Equilibrium
9.1 Equilibrium of firm in short and long run under perfect competition, monopoly, monopolistic
competition, and oligopoly
9.2 Understand perfect competition, monopoly, monopolistic competition, and oligopoly,
their features, pros and cons, and firm’s short run and long run equilibrium under these
situations
Unit-X Macroeconomics
10.1 Measurement of national income, GDP, GNP, NNP
10.2 Understand basics of national income and related terms like gross domestic product,
gross national product, net national product personal income, disposable personal
income per capital, nominal and real GDP
10.3 Explain circular flow of national income
10.4 Explain product approach, income approach, and expenditure approach to measure
national income
10.5 Issues in measurement of national income
Unit-XI Consumption, Saving and Investment Functions
11.1 Understanding basics of consumption and saving, autonomous and induced
consumption, average and marginal propensity to consume and save
11.2 Study Keynes psychological law of consumption: relationship between consumption
and income using average and marginal propensity to consume curves

Page 32 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

11.3 Study determinants of consumption and saving function

11.4 Understanding stability of consumption and saving functions in short run
11.5 Studying investment, induced investment and autonomous investment
11.6 Understanding relationship between investment, marginal efficiency, and interest rate
11.7 Study Classical and Keynesian approach to determine equilibrium level of
output/income
Unit-XII Growth and Recession
12.1 Understanding business cycle, and its phases
12.2 Understanding indicators of growth and inflation
12.3 Understanding determinants of cost and benefits of growth
Unit-XIII Unemployment and Inflation
13.1 Understand unemployment and types of unemployment, means to reduce
unemployment
13.2 Understand inflation, deflation, stagflation, wage spiral inflation, mild and
hyperinflation, causes of inflation, cost of inflation, Philip curve
13.3 Discuss means to overcome inflation in Pakistan
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF-02 Introduction to Economics and Finance by ICAP
2. Mankiw, N. G. (2015). Macroeconomics. Cengage Learning . ISBN
978-0-324-58999-3.

Page 33 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9. Suggested Readings:
9.1 Books
1. McConnell, C. R., Brue, S. L., & Flynn, S. M. (2005). Economics: Principles,
problems, and policies. New York: McGraw-Hill/Irwin.
2. Samuelson, P. A., & Nordhaus, W. D. (2009). Macroeconomics 19e.

Page 34 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Financial Accounting-I

Course Code: BSAT-105 Credit Hours: 3

Program: BS-Accounting and Taxation Semester: I

1.0 Introduction of the Course:

The primary aim of Financial Accounting is to provide students with an introduction to
the process and function of financial reporting. Whilst a large proportion of the course is
aimed at understanding accounting as a process, taking a preparers’ perspective, we will
also seek to develop an understanding of the importance of the role of accounting in
today’s society
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course
3.0 Course Learning Outcomes:
1. This basic course of accounting will enable students to understand basic
accounting framework and book keeping procedure.
2. After studying this course, students will have working knowledge of book
keeping and accounting cycle.
4.0 Course Contents:

Unit-I: Introduction to Business and Accounting

1.1 Understand nature of business and significance of accounting in business
1.2 Defining transactions and relating to business transactions
1.3 Understanding and differentiate key features of different forms of business: sole
proprietorship, partnership, and limited company
1.4 Understand meaning and difference between book keeping and accounting
Unit-II: Fundamental Accounting Concepts and Statements
2.1 Understanding main accounting concepts: GAAP, accrual, consistency, completeness,
true and fair view, materiality, prudence, going concern, substance over form.
2.2 Listing and defining main accounting statements and their purpose: statement of
financial position, statement of comprehensive income
2.3 Familiarizing with basic accounting lay out of accounting statements
2.4 Understanding uses and users of financial statements

Page 35 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-III: Book keeping

3.1 Elements of financial statements
3.2 Defining and identification of basic elements of financial statements: assets, liabilities,
equity, income and expenses
3.2 Understanding nature, function and usefulness of chart of accounts
3.3 Using accounting equation
Unit-VI: Double Entry System and Rules of Debit and Credit
4.1 Double entry system and its usefulness
4.2 Extended accounting statement
4.3 Rules of debit and credit
4.4 Identification of financial and non-financial transaction and passing entries
Unit-V: Books of Prime Entry
5.1 Basics of passing an entry and understanding use of business documents and vouching
system
5.2 Learning basic contents of sales day book, sales ledger, customer/debtor ledger,
purchase day book, purchase journal and ledger
5.3 Learning to use a cash book, types of cash book
5.4 Recording entries in respective books of accounts
Unit-VI: General Ledger
6.1 Learning format and features of general ledger
6.2 Posting entries to ledger and balancing accounts
Unit-VII: Trial Balance
7.1 Learning format, purpose and limitations of a trial balance
7.2 Demonstration of mapping between ledger balances and trial balance
Unit-VIII: Adjustments: Depreciation and its Methods
8.1 Understanding nature of depreciation and accumulated depreciation and passing entries
8.2 Using different methods of depreciation calculation: straight line, diminution balance,
sum of digits, number of units produced method
8.3 Understanding gain/ loss on disposal of asset and passing entries
Unit-IX: Adjustments: Allowance for Bad Debts and Write off, Prepayments and
Accruals
9.1 Understanding bad debts and allowances for bad debt based on policy and passing
entry

Page 36 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.2 Computation of write offs and passing entries and understanding impact on allowance
for bad debts
9.3 Understanding prepayments and accruals and passing entries
Unit-X: Closing Entries
10.1 Understanding nature and passing closing entries
10.2 Understanding closing entries for inventories using both periodic and perpetual
inventory systems
Unit-XI: Bank Reconciliation and Related Adjustments
11.1 Understanding need and value of bank reconciliation statement
11.2 Understanding reasons for difference between bank account and cash book
11.3 Learning to prepare bank reconciliation statement
11.4 Correction of cash book error and passing journal entries considering bank
reconciliation statement
Unit-XII: Control Accounts
12.1 Understanding mapping between control accounts and subsidiary ledge for accounts
receivable and accounts payable
12.2 Preparing control accounts and subsidiary ledge
12.3 Performing control accounts reconciliation for accounts receivable and account
payable and identify errors for corrections
Unit-XIII: Rectification of Errors
13.1 Understanding types of errors that might incur in book keeping
13.2 Calculating and understanding the impact of error on financial statements
13.3 Passing journal entries to rectify errors
Unit-XIV: Final Accounts for Sole Trader
14.1Statement of financial position and statement of comprehensive income
14.2Understanding the nature and purpose of financial accounts statements and preparing
these statements
Unit-XV: Receipts and Payment Accounts
15.1 Understand the nature and purpose of receipt and payment accounts and its preparation

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Page 37 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF-01 Introduction to Accounting – Study Text by ICAP
2. Williams, J. R., Haka, S. F., Bettner, M. S., & Carcello, J. V. (2005). Financial and
managerial accounting. China Machine Press.
9. Suggested Readings:
9.1 Books:

⮚ Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2018). Financial and managerial

accounting. John Wiley & Sons.

⮚ Horngren, C. T., Sundem, G. L., Elliott, J. A., & Philbrick, D. R. (2002). Introduction

to financial accounting (Vol. 8). Prentice Hall.

Page 38 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Islamic Studies

Course Code: BSAT-106 Credit Hours: 03
Program: BS Accounting and Taxation Semester: I

1.0 Introduction of the Course

Islam provide a code of conduct for every aspect of life. This course provides introduction to
Islamic concepts and virtues and their importance in business and daily life. Most of the part
of this course is tailored to business settings to understand how Islamic teaching are applied
to business settings.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course.
3.0 Course Learning Outcomes:
1. Learning basic concepts and virtues of Islam
2. Understanding Islamic viewpoint on business and economics
3. Understanding Islamic financial and economic system
4. Understanding halal and haram in context of business and economics
4.0 Course Contents:

Unit-I: Fundamentals of Islamic Faith

1.1 Basic principles of Islamic faith
1.2 Belief system and basic beliefs
Unit-II: Virtues in Islam
2.1 Sincerity in light of Quran and Hadith and application to business
2.2 Righteousness in light of Quran and Hadith and application to business
2.3 Justice in light of Quran and Hadith and application to business
2.4 Generosity in light of Quran and Hadith and application to business
2.5 Gentleness in light of Quran and Hadith and application to business
2.6 Truthfulness in light of Quran and Hadith and application to business
2.7 Trustworthiness in light of Quran and Hadith and application to business
2.8 Honesty in light of Quran and Hadith and application to business
2.9 Moderation in light of Quran and Hadith and application to business

Page 39 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.10 Contentment (Tawakkul) in light of Quran and Hadith and application to business
2.11 Gratitude (Shukr) in light of Quran and Hadith and application to business
2.12 Mercifulness (Reham) in light of Quran and Hadith and application to business
2.13 Divine love in light of Quran and Hadith and application to business
2.14 Repentance Counsel in light of Quran and Hadith and application to business
2.15 Humbleness in light of Quran and Hadith and application to business
Unit-III: Islamic Economic System
3.1 Islamic economic system
3.2 Comparison of Islamic economic system with capitalism and socialism
3.3 Factors of production in Islam, capitalism, and socialism
3.4 Wealth circulation and its importance in Islam
3.5 Zakat, its application and significance
3.6 Who can receive zakar?
3.7 Welfare state, basic concept and historical context during rule of Hazrat Umar (R.A.)
Unit-IV: Islamic Financial System
4.1 Islamic financial system, its principles and significance
4.2 Riba – Types and implications (Riba al Qard, Riba al Fadal, Interest and Usray)
4.3 Riba in the light of Quran and Hadith
Unit-V: Islamic Finance
5.1 Permissible modes of financing in Islam and their structure - Musharkah, Mudarbah,
Ijarah, Marabaha, Salam, Istisna, Sukuk
5.2 Islamic insurance (Takaful) – modes and application
Unit-VI: Halal and Haram
6.1 Concept of halal and haram, its implications in the light of Quran and Hadith
6.2 Halal and haram in daily business life
6.3 Gambling, speculation, and gharar, its implications in the light of Quran and Hadith
6.4 Business life examples of Gambling, speculation, and gharar
6.5 Black marketing, smuggling, and profiteering
Unit-VII: Marketing and Islam
7.1 Islamic context of marketing
7.2 Permissible means of marketing in Islam
7.3 Lying, deception, and fraud – Islamic revelations
Unit-VIII: Human Rights in Islam
8.1 Basic human rights in Islam
Page 40 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

8.2 Rights and responsibilities of employee and employer in the light of Quran and Hadith
Unit-IX: Taxation in Islam
9.1 Islamic revelations on taxation and its forms
9.2 Tax planning and evasion – ethical implications
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Uusmani, M. T., & Taqī ʻUs̲ mānī, M. (2002). An introduction to Islamic finance. Brill.
2. Vogel, F. E., & Hayes, S. L. (1998). Islamic law and finance: religion, risk, and return.
Brill.
3. Ahmad, M. (2009). Business ethics in Islam. International Institute of Islamic
Thought (IIIT).
4. Dar, A. H., & Akram, M. M. (2004). Islamic Economics. Ilmi Kitab Khana.
9. Suggested Readings:
9.1 Books:
Kayed, R. N., & Hassan, M. K. (2013). Islamic entrepreneurship. Routledge.

Page 41 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-II

Page 42 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Business Communication

Course Code: BSAT-111 Credit Hours: 03
Program: BS Accounting and Taxation Semester: II

1.0 Introduction of the Course:

Communication is an important aspect of everyday life. In business settings, effective
communication is very important to deal with variety of stakeholders including employees,
customers, suppliers, shareholders, and regulators. This course provides a solid foundation
for students to learn modes and etiquettes of communication in modern businesses.
2.0 Pre-Requisites Course or Other Requirements/Skills:
BSAT-101 Functional English
3.0 Course Learning Outcomes:
1. Understanding importance of effective communication in business
2. Learning and practicing different aspects of business communication
3. Learning to use different modes of business communication
4. Learning to communicate effectively in various business situations
4.0 Course Contents:

Unit-I: Business Communication

1.1 Nature, scope, and importance of business communication
1.2 Goals, patterns, and channels of business communication
Unit-II: Communication Process
2.1 Components of communication process – Context, sender, message, medium,
recipient, and feedback
2.2 Information needs of the organization, its sources, levels, and usefulness
2.3 Barriers to effective communication

Page 43 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.4 Methods of business communication and their appropriate mediums

2.5 Types of communication networks and their influence on communication process
Unit-III: Interpersonal Communication
3.1 Nature and importance of intrapersonal communication
3.2 Basic aspects of intrapersonal communication: self-concept, perception, expectation,
etc.
3.3 Axioms and purpose of interpersonal communication
3.4 Roles of stereotypes in communication process
3.5 Resolve conflict in intercultural relationships through effective communication
3.6 Means to improve interpersonal skills
3.7 Role of ethics in interpersonal communication
Unit-IV: Critical Thinking
4.1 Creative thinking vs. critical thinking
4.2 Critical thinking and effective communication
Unit-V: Non-Verbal Communication
5.1 Importance and value of non-verbal communication
5.2 Using non-verbal communication
5.2.1 Facial expressions
5.2.2 Posture and gestures
5.2.3 Eye contact
5.2.4 Voice – Pitch and tone
5.2.5 Touch
Unit-VI: Verbal Communication
6.1 Importance and value of verbal communication
6.2 Modes of verbal communication – Oral and written communication, speaking vs.
listening skills
6.3 Forms of oral communications
6.3.1 Face to face communication
6.3.2 Interviews
6.3.3 Telephonic conversation
6.3.4 Grapevine
6.3.5 Negotiation
6.3.6 Meeting
6.3.7 Lecture
Page 44 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.3.8 Speech
6.4 Conflict resolution – skill and approach
6.5 Public speaking - preparation and delivery of speech
6.6 Importance of listening in business communication
6.7 Barriers to effective listening
Unit-VII: Visual Communication
7.1 Nature and value of visual communication
7.2 Functions of visual communication
7.3 Tools for visual communication
Unit-VIII: Written Communication
8.1 Nature and scope of written communication in business settings
8.2 Types of written communications – Letters, circulars, applications, and memos
8.3 Qualities of a good letter, memo, or circular
8.4 Business letters
8.4.1 Purpose and scope of business letter
8.4.2 Components of a business letter
8.4.3 Salient features of persuasive letters and circulars
8.4.4 Writing different types of business letters
8.5 Business reports
8.5.1 Purpose and scope of business report
8.5.2 Contents of business report
8.5.3 Types of business reports and their contents
8.5.4 Writing a business report
Unit-IX: Digital and Online Communication
9.1 Website
9.1.1 Nature, scope, and value of website in business communication
9.1.2 Features of a good website
9.1.3 Web hosting types
9.2 Email
9.2.1 Nature, scope and usefulness of email in business communication
9.2.2 Features of a good email communication
9.2.3 Language of formal email
9.2.4 Writing and reply to emails
9.3 Other modes of electronic communication
Page 45 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.3.1 Social networking websites – nature, scope and usefulness in business

communication
9.3.2 Forums – nature, scope and usefulness in business communication
9.3.3 Blogs – nature, scope and usefulness in business communication
9.3.4 Podcasts – nature, scope and usefulness in business communication
9.3.5 Discussion boards – nature, scope and usefulness in business communication
9.3.6 Messaging – nature, scope and usefulness in business communication
9.3.7 Video conferencing – nature, scope and usefulness in business communication
9.3.8 Pros, cons, and limitations of different modes of electronic communication

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

1. AFC-02 Business Communication – Study Text by ICAP

Page 46 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Introduction to Information Technology

Course Code: BSAT- 112 Credit Hours: 03
Program: BS Accounting and Taxation Semester: II

1.0 Introduction of the Course:

Information technology has evolved as a part and partial element of modern business world.
The is a basic course which provides introduction of information technology and its
applications in business. This course provides basic overview of software and hardware used
on computing technology. Further, this course will also enable the students to lean Microsoft
office applications: Word, Excel, and PowerPoint.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required.
3.0 Course Learning Outcomes:
1. Understanding application of information technology in business world
2. Learning different components and tools of computers and IT infrastructure
3. Learning to use Microsoft office applications: MS Word, MS Excel, MS Power
point
4.0 Course Contents:

Unit-I: Computer System

1.1: Hardware
1.1.1 Components of CPU - processor, hard disk, RAM, read only memory – Features and
use.
1.1.2 Input Devices - keyboard, mouse, touch pad, magnetic ink character reader, optical
mark reader, optical character reader, barcode reader and electronic point of sale –
Features, uses, pros and cons.
1.1.3 Output devices – Monitors and printers – Features, uses, pros and cons
Page 47 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.2: Software
1.2.1 Operating systems – DOS, Windows, Linux, Mac OS – Features, pros and cons
1.2.2 Utility Programs – Microsoft Office – Features and uses
1.2.3 Special software – Accounting software (Quick Books, PeachTree)
Unit-II: Using Computer
2.1 Learning to use computer and its basic programs
2.2 Using key operating system commands for efficient searchers, formatting disks, viewing
IP configurations, testing network connections and exploring network.
2.3 Customizing desktop and start menu, working with files and folders, logging on-logging
off, searching information, locking computer, using screen saver password, resetting
password
Unit-III: Microsoft Excel
3.1 Functions, uses, and value in business context
3.2 Menus bar and its functions - file, home, insert, page layout, formulas, data, review and
view
3.3 Excel spreadsheet - basic functions and formulas, cell references, constants and operators
3.4 Mathematical, logical and financial functions - sum, sumif, trunc, subtotal, round, floor,
celining, int, mod, abs, average, count, couna, countif, max, min, median, stdev.s,
percentile, rank, IRR, rate, effect, pv, npv, sln, yield, pmt, accrint, accrintm, coupdays,
cumprinc, vlookup, hlookup, if, iferror, not, and, or, isblank, iserr, iserror, islogical, isna,
isnumber, istext, isnontext, isref, exact, trim, left, right, len, lower, upper, mid, proper,
text, today, now, weekday, and weeknum
3.5 Working with data sets – Using multiple worksheets - navigating, selecting, renaming,
inserting, deleting, moving, copying, and printing worksheets
3.6 Data handling – Sorting, filtering, finding, and replacing data
3.7 Conditional formatting – Using rules manager
3.8 Security - Protecting certain cells, individual worksheets, and entire workbook
3.9 Using digital signatures
3.10 Sharing and merging - Sharing a workbook, merging multiple parts of a shared
workbook
3.11 Importing data into excel
3.12 Exporting data to other formats from excel
3.13 Data connections - Creating, editing, refreshing, and finding data connections in excel

Page 48 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.14 Charts and data visualizations – Using charts, templates, and other tools of data
visualization
Unit-IV: Microsoft Word
4.1 Functions, uses, and value in business context
4.2 Menu bar - file, home, insert, page layout, references, mailings, review, and view
4.3 Formatting – home features – size, color, bold, italic etc.- learning to format documents
4.4 Mail merge – creating letter, directory, envelope, etc.
4.5 Tables and table of content
4.5.1 Using and editing tables, applying predefined styles, customized formatting options
4.5.2 Sorting content in table - Using Word’s built in feature to sort content saved in tables
4.5.3 Creating and modifying table of content using predefined styles
4.6 Review and reference tabs
4.6.1 Using track changes, comments, and other features in review tab
4.6.2 Using bibliography, endnotes, footnotes, captions, comments and cross references in
references tab
Unit-V: Microsoft PowerPoint
5.1 Functions, uses, and value in business context
5.2 Templates, layouts, creating presentation
5.3 Slide masters and layouts and uses
5.4 Inserting and editing data
5.5 Tables, charts, and other objects
5.6 Inserting and editing picture, video, charts, and other objects in PowerPoint
5.7 Running presentation - Slide transitions, slide show, recording slide show, starting slide
show from beginning or from current slide, broadcasting slide show and creating a
custom slide show
5.8 Printing presentation
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Page 49 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

1. AFC-04 Introduction to information technology – Study Text by ICAP

2. Shelly, G. B., & Vermaat, M. E. Discovering Computers, Complete: Your Interactive
Guide to the Digital World. Cengage Learning., 2011 (pp. 691-693). ISBN
1-111-53032-7.
3. Lambert, J., & Frye, C. Microsoft Office 2016 Step by Step.

9. Suggested Readings:

9.1 Books:

⮚ Lambert, J., Cox, J., & Frye, C. (2010). Microsoft Office Professional 2010 Step by

Step. Pearson Education.

Page 50 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Quantitative Methods-II

Course Code: BSAT- 113 Credit Hours: 03
Program: BS Accounting and Taxation Semester: II

1.0 Introduction of the Course:

This course provides basic overview of the statistical methods and analysis of data. The
course of focused on hard core statistical methods that are useful for data analysis to support
business decision making. This course also provides an insight into basic probability theory
and sampling procedures.
2.0 Pre-Requisites Course or Other Requirements/Skills:
BAST-103 Quantitative Methods 1
3.0 Course Learning Outcomes:
1. Learning data handling and data presentation
2. Learning to present and visualize data
3. Learning to use appropriate statistical technique to draw inferences from data
4. Understanding basics of probability theory and its application in data collection and
analysis
4.0 Course Contents:

Unit-I: Statistics and Business

1.1 Statistics – Nature, scope, value and application
1.2 Application and value of statistics in business settings
Unit-II: Data Collection, Handling and Presentation

Page 51 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.1 Methods of data collection

2.2 Types of data
2.3 Organizing and summarizing data – Tabulation and frequency distributions
2.4 Data presentation – Charts
2.4.1 Bar charts and their uses – Simple bar charts, multiple bar charts, component bar
charts
2.4.2 Pie chart and its use
2.4.3 Histogram and its use
2.4.4 Frequency polygons and their use
2.4.5 Ogives
2.4.6 Stem and leaf plots
2.4.7 Box and whisker plots
2.4.8 Analyzing data presented through graphs
Unit-III: Measures of Central Tendency and Dispersion
3.1: Measures of Central Tendency
3.1.1 Arithmetic mean: its use, calculation, pros and cons
3.1.2 Median: its use, calculation, pros and cons
3.1.3 Mode: its use, calculation, pros and cons
3.1.4 Geometric mean: its use, calculation, pros and cons
3.1.5 Harmonic mean: its use, calculation, pros and cons
3.1.6 Interpretation of different measures of central tendency
3.2: Measures of Dispersion
3.2.1 Standard deviation: its use, calculation, pros and cons
3.2.2 Variance: its use, calculation, pros and cons
3.2.3 Range: its use, calculation, pros and cons
3.2.4 Interpretation of measures of dispersion
Unit-IV: Index Numbers
4.1 Index numbers: Uses, types, and limitations
4.2 Calculation of index numbers using different methods
4.3 Application of index numbers: purchasing power, inflating or deflating a series
Unit-V: Methods of Least Square and Regression
5.1 Scatter diagram: Uses and limitations
5.2 Regression line: Properties, uses, drawing the line
5.3 Using least square method to construct and interpret repression line
Page 52 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.4 Forecasting through regression line – Change in dependent variables due to independent
variable
Unit-VI: Correlation
6.1 Correlation: Uses and limitations
6.2 Calculation of correlation coefficient and interpretation
6.3 Calculation of coefficient of determination and interpretation
6.4 Pearson correlation vs. Spearman’s rank order correlation: Calculation, limitations, and
usability

Unit-VII: Counting Techniques

7.1 Counting techniques: Uses and limitations
7.2 Calculation and application: counting rules, factorial, permutations, combinations
Unit-VIII: Probability Theory
8.1 Probability theory: nature, terminology, scope, value, application
8.2 Addition law for mutually exclusive and non-mutually exclusive events – Calculation
8.3 Multiplication laws for dependent and independent events – Calculation
Unit-IX: Probability Distributions
9.1 Nature and scope of probability distribution
9.2 Binominal distribution: Assumption, usage, and calculating probabilities
9.3 Poisson distribution: Assumption, usage, and calculating probabilities
9.4 Hyper-Geometric distribution: Assumption, usage, and calculating probabilities
9.5 Normal distribution: Assumption, properties usage, and calculating probabilities
Unit-X: Sampling
10.1 Sampling theory: terminology – sample, population, sampling space, sampling frame
etc.
10.2 Simple random sampling – value and procedure
10.3 Sampling distribution of a mean and standard error of a mean – Scope and calculation
10.4 Using appropriate sampling technique to calculate probabilities for sampling mean
Unit-XI: Hypothesis Testing
11.1 Hypothesis testing and significance criteria
11.2 Hypothesis testing of population means based on small and large samples
11.3 Hypothesis testing of the difference between two population means based on small and
large samples
11.4 Hypothesis testing of the difference between two population properties
Page 53 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

11.5 Selecting appropriate distributions i.e. z or t for constructing confidence interval for a
population mean
11.6 Single proportion variance based on test of Chi-square – Testing goodness of fit and
independence
11.7 Confidence interval for estimating population means, proportions, and variance, and
differences between proportion means, proportion and variance
11.8 Sample size for an internal estimate of population mean and proportion

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks

1. AFC-03 Quantitative Methods – Study Text by ICAP

2. Groebner, D. F., Shannon, P. W., Fry, P. C., & Smith, K. D. (2013). Business statistics.
Pearson Education UK.
3. Doane, D., & Seward, L. (2013). Applied statistics in business and economics 4. ed.
New York: McGraw-Hill/Irwin.
4. McClave, J. T., Benson, P. G., & Sincich, T. (2018). Statistics for business and
economics.

Page 54 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Foreign Language (Arabic)

Course Code: BSAT- 114 Credit Hours: 03
Program: BS Accounting and Taxation Semester: II

1.0 Introduction of the Course:

Arabic is one of the oldest languages of the world. The language has a special place in
Muslim world. This course provides overview of basics on Arabic Language with a view to
teach students about the language.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No pre-requisite is required for the course.
3.0 Course Learning Outcomes:
1. To make the students able to distinguish and pronounce all Arabic sounds, and write
accurately from dictation.
2. To enable the students to understand Quran, Hadith and other Arabic-Islamic literature

Page 55 of 203
 ‫‪HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION‬‬

‫‪with an ease and comprehend simple written Arabic texts on familiar topics.‬‬

‫‪3. To facilitate the students to write simple sentences/paragraphs in Arabic.‬‬

‫‪4. To empower the students to start talking satisfactorily with any native speaker of Arabic‬‬

‫‪4.0 Course Contents:‬‬

‫یونٹ ‪ :۱‬عربی زبان کی اہمیت اور ٓاگاہی‬

‫یونٹ ‪ :۲‬عربی الفاظ کی پہچان‪ٔ ،‬اسماء اشارة ‪,‬كلمات استفهام‬

‫یونٹ ‪ :۳‬عربی تراکیب اورضمائرکااستعمال‬

‫‪۳‬۔‪ ۱‬مرکب اضافی کی پہچان اور استعمال‬

‫‪۳‬۔‪ ۲‬ضمائرمنفصلہ کی پہچان اور استعمال‬

‫‪۳‬۔‪ ۳‬ضما ئر متصلہ کی پہچا ن ا ور استعمال‬

‫‪۳‬۔‪ ۴‬حر و ف قمر یہ و شمسیہ ا ور جملہ ا سمیہ کی پہچا ن ا ور استعمال‬

‫‪۳‬۔‪ ۵‬حر و ف جا رہ کی پہچا ن ا و ر جملو ں میں ا ستعما ل‬

‫‪۳‬۔‪ ۶‬مرکب توصیفی‪ ،‬معرفہ ونکرہ کی پہچان اورجملوں میں استعمال‬

‫یونٹ ‪ :۳‬جملہ فعلیہ‬

‫‪۳‬۔‪ ۱‬جملہ فعلیہ کی ساخت اورجملوں میں استعمال‬

‫‪۳‬۔‪ ۲‬فعل ماضی(غائب) کی پہچان اورجملوں میں استعمال‬

‫‪۳‬۔‪ ۳‬فعل ماضی(حاضر ) کی پہچان اورجملوں میں استعمال‬

‫‪۳‬۔‪ ۴‬فعل ماضی(متکلم ) کی پہچان اورجملوں میں استعمال‬

‫‪۳‬۔‪ ۵‬فعل مضارع بنانےکاطریقہ اورجملوں میں استعمال‬

‫‪۳‬۔‪ ۶‬فعل امربنانےکاطریقہ اورجملوں میں استعمال‬

‫‪Page 56 of 203‬‬
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

‫ عربی گنتی اورہفتےکےدنوں کےنام‬:۴ ‫یونٹ‬

‫ منتخب قرٓانی ٓایات کا ترجمعہ اور سوالوں کے جواب‬:۵ ‫یونٹ‬

‫ منتخب احادیث کا ترجمعہ اور سوالوں کے جواب‬:۶ ‫یونٹ‬

‫ منتخب عربی اشعار کا ترجمعہ اور سوالوں کے جواب‬:۷‫یونٹ‬

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments
Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks

1. Arabic Language and Literature (‫)اللغة العربية وأدبها‬

2. ‫ الدكتور مقيت جاويد‬:‫ٕاعداد وتقديم‬

9. Suggested Readings

9.1 Books

⮚ ‫ المملكة العربية‬،‫ وزارة التعليم العالي‬،‫ دروس اللغة العربية لغير الناطقين بها‬،)‫ (الدكتور‬،‫ ف‬،‫عبد الرحيم‬

⮚ 1418 ،‫السعودية‬

Page 57 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 58 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Financial Accounting-II

Course Code: BSAT-115 Credit Hours: 03

Program: BS-Accounting and Taxation Semester: II

1.0 Introduction of the Course:

This course is built upon the Financial Accounting Course in the sense that it provides
advanced treatment of basic techniques learned in the first course of Financial Accounting. It
mainly focuses upon the company accounts and their understanding in the context of the IAS
and companies act 2017.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Financial Accounting-I
3.0 Course Learning Outcomes:
1. This course provides in-depth understanding of the accounting for partnerships and
corporations.
2. It also relates to IAS 1, which describes preparation of financial statements.
3. This course also provides basic understanding of the ratio analysis for financial
statement analysis.

Page 59 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.0 Course Contents:

Unit-I: Accounting for Partnership

1.1 Understanding partnership and its essential elements
1.2 Understanding good will
1.3 Preparation of capital account and current account
1.4 Preparation of profit and loss account and statement of financial position for partnership
Unit-II: Admission and Amalgamation of Partnership
2.1 Passing journal entries and preparation of relative records
Unit-III: Retirement, Death and Dissolution of Partnership
3.1 Passing journal entries and preparation of relative records
3.2 Dissolution: Passing entries to transfer/ sale of assets and liabilities to third parties and
partners, payment of realization expenses, closing realization account, and settlement of
partners’ capital account
3.3 Death and retirement: Adjustments for relating to goodwill, accumulated reserves and
undistributed profits, revaluation account, adjustment of partners’ capital, application of
new profit sharing ratio
Unit-VI: Preparation of Accounts from Incomplete Records
4.1 Understanding background/situations on incomplete records: asset destroyed, cash
misappropriation, destroyed accounting record
4.2 Learning to apply following techniques for incomplete records: Using accounting
equation, using opening and closing balance of ledger accounts, Using cash and bank
summary
4.3 Using markup on cost and gross and net profit percentages
Unit-V: Preparation of Statement of Financial Position (IAS-1)
5.1 Learning IAS-1 and preparing simple statement of financial position in accordance with
IAS-1
Unit-VI: Preparation of Statement of Comprehensive Income (IAS-1)
6.1 Learning IAS-1 and preparing simple statement of comprehensive income in accordance
with IAS-1
Unit-VII: Preparation of Statement of Cash Flows (IAS-7)
7.1 Learning IAS-7 and preparing simple statement of cash flows in accordance with IAS-7

Page 60 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.2 Understanding cash & equivalent, operating activities, investing activities and financing
activities; calculating changes in working capital to calculate cash flow from operating
activities, computing other items in cash flow statement
Unit-VIII: Income and Expenditure Account
8.1 Preparation of income and expenditure account
Unit-IX: Analysis of Financial Statements Through Ratios
9.1 Understanding structure of financial statement and relevance of individual items for ratio analysis
9.2 Basics of ratio analysis: Liquidity, solvency, profitability, efficiency/ activity, and market
ratios
Unit-X: Liquidity, Solvency,and Profitability Ratios
10.1Learning to calculate and interpret liquidity, solvency and profitability ratios on an actual
financial statement: Current ratio, quick ratio, gross profit margin, operating profit
margin, net profit margin, return on equity, return on asset, return on capital employed,
debt to equity ratio, debt ratio, debt servicing ratios
Unit-XI: Efficiency/ Activity and Market Ratios
11.1Learning to calculate and interpret efficiency/activity and market ratios on actual
financial statement: inventory turnover, average age of inventory, debtor turn over,
average collection period, creditor turnover, average payment period, asset turnover,
fixed asset turnover, market to book ratio, price/ earnings ratio
5.0 Teaching-Learning Strategies
Lectures, discussions, presentations, quiz & assignments
6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF-01Introduction to Accounting – Study Text by ICAP

Page 61 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2. Williams, J. R., Haka, S. F., Bettner, M. S., & Carcello, J. V. (2005). Financial and
managerial accounting. China Machine Press.

Page 62 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Pakistan Studies

Course Code: BSAT- 116 Credit Hours: 03
Program: BS Accounting and Taxation Semester: II

1.0 Introduction of the Course:

Pakistan studies is a compulsory course of the program. The course provides an overview of
history of Pakistan from Pakistan Movement to date. It highlights the vision and struggles of
the country and tries to evoke patriotic feelings among the students.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific pre-requisite is required.
3.0 Course Learning Outcomes:
1. Provide an overview history of Pakistan.
2. Highlight social, geographical, economic, and strategic features of the country.
4.0 Course Contents:

Unit-I: Pakistan Movement

1.1 Muslim revivalist movement in India
1.2 Two nation theory: From Sir Syed Ahmad Khan to Allama Iqbal
1.3 Role of Quid-e-Azam in Pakistan movement
Unit-II: Independence
2.1 Independence of Pakistan – A review of partition mechanism
2.2 Early issues after independence – Economic issues, financial issues, administrative issues
2.3 Rule of Quid-e-Azam and Liaqat Ali Khan
Unit-III: Land and People of Pakistan
3.1 Physical features and geo-strategic location of Pakistan
3.2 Culture and traditions: Regional dimensions
3.3 Population and its distribution
Unit-IV: Economic History of Pakistan
4.1 Five years plans
4.2 Nationalization drive

Page 63 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.3 De-regulation and de-nationalization

4.4 Issues in Pakistani economy

Unit-V: Political History of Pakistan

5.1 From independence to Ayub Khan
5.2 Ayub Khan and Yaha Khan
5.3 Zulfiqar Ali Bhutto
5.4 Zia-ul-Haq
5.5 Unstable political governments – 1985-1999
5.6 General Pervez Musharraf
5.7 Restoration of democracy to present
Unit-VI: Constitution of Pakistan
6.1 Constitution of 1973
6.2 Formation of the Constitution
6.3 Salient features of the Constitution
Unit-VII: Foreign Policy of Pakistan
7.1 Relationship with India
7.2 Relationship with China
7.3 Relationship with Afghanistan
7.4 Relationship with Iran
7.5 Relationship with Middle Eastern countries
7.6 Relationship with USA
7.7 CPEC and its implications
Unit-VIII: Main Aspects of Pakistan
8.1 Economy of Pakistan
8.2 Agriculture of Pakistan
8.3 Industry of Pakistan
8.4 Natural resources of Pakistan
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

Page 64 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Sajid M. A. Pakistan Studies
2. Zaidi, S. A. (2005). Issues in Pakistan's economy. OUP Catalogue.

9. Suggested Readings:

⮚ News papers

⮚ Internet

Page 65 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 66 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 67 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 68 of 203
HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-III

Page 69 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Income Tax-I

Course Code: BSAT-201 Credit Hours: 3
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course:

This course provides basic overview of the taxation system of the Pakistan and its
fundamentals concepts. After studying this course, the students would be able to
understand taxation system of Pakistan, income tax concepts/terms/definitions, Tax

Page 70 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

authorities and its hierarchy. To know about rules and regulations regarding taxable
income from various heads of income and calculation of taxable liability is an
important task of this course. Similarly, this course may help the students who want to
become tax practitioners as their professional career. This course would also help the
students to know about the assessment procedure of taxable income and income tax
liability for salaried individuals.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Basic knowledge of accounting and business
3.0 Course Learning Outcomes:
1. After studying this course, the students would be able to understand fundamentals
concepts/definitions, tax exemptions and tax rules.
2. This course would also help the students to know about the calculation procedure of
taxable income and income tax liability for salaried individuals.
3. This course may help the students who want to become tax practitioners as their
professional career.
4.0 Course Contents:

Unit-I
1.1 Income Tax Laws in Pakistan
1.1.1 History of Income Tax Law, Income Tax Ordinance, 1979, Income Tax
Ordinance, 2001, Scope of Income Tax Laws, Extent of Income Tax Ordinance,
2001.

1.1.2 Components of Income Tax Law, Income Tax Ordinance, 2001, Income Tax
Rules, Notifications, Circulars and Orders, Income Tax Case Law, Finance Act or
Ordinance.

Unit-II
2.1 Definitions of Terms (Section2)
2.1.1 Importance and understanding of Income Tax terms/concepts/definitions.

2.1.2 All the definitions given under section 2 of Income Tax Ordinance 2001(updated)
(2nd Schedule)
Unit-III
3.1 Income Exempt from Tax (section 41 to 51)
3.1.1 Importance of understanding of Income Exempt from Tax.

Page 71 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.1.2 Income Tax Exemptions given under section 41 to 51 of Income Tax Ordinance
2001(updated).
Unit-IV
1.1 Heads of Income- Income from Salary
1.1.1 Overview of all the heads of income with examples. Understanding, features and
scope of salary Income. Minimum of Time Scale of Basic Salary, Basic Salary and
Salary concepts, Valuation of perquisites, allowances and benefits provided by an
Employer such as Accommodation, Conveyance, Medical Charges, Hospital
Charges or Medical Allowance, Loan to Employees, Special Allowance,
Provident Fund etc.
1.1.2 Computation of Salary Income, Deductions from total Income, Calculation of
Gross Tax, Block of Income under FTR, Block of Income under separate block.
1.1.3 Tax credits, Average Relief and Other Related Income.
1.1.4 Numerical Demonstration of salaried individuals.
Unit-V
5.1 Computation of Income from Property
5.1.1 Understanding the concept of Income from Property, Concept and Calculation of
Rent Chargeable to Tax (RCT), Admissible Deductions and Numerical
Demonstration.
Unit-VI
6.1 Computation of Income from Capital Gain
6.1.1 Capital and revenue items, Concept of income from capital gains, Computation of
capital gains, Deductions of capital losses, Capital gains on disposal of securities,
Exempt capital gain and numerical demonstration.
Unit-VII
7.1 Computation of Income from Other Sources
7.1.1 Understanding the concept of Income from other sources, Examples of Income
from other Sources, Examples of Income, Profits and Gains not taxable under the
particular Heads Rather Treated as income from Other Sources, Admissible
Deductions.
5.0 Teaching-Learning Strategies:

⮚ Lectures

⮚ Handouts

Page 72 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

6.0 Assignments:

6.1.1 Assignment regarding applicability of income tax rules/return will be given after
midterm examination.
6.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks: (Latest Editions)

1. Muhammad Muazzam Mughal, Income Tax: Principles and Practice, Syed
Mobin Mahmud & Co, Lahore.
2. CAF-06 Principles of Taxation by ICAP
3. Mirza Munawar Hussain, Synopsis of Taxes in Pakistan, IBP Publications

9.0 Suggested Readings:

9.1 Books:
⮚ Govt. of Pakistan, Income Tax Ordinance 2001 and relevant laws.

⮚ Huzaima & Ikram, Law and Practice of Income Tax.

⮚ R.I. Naqvi, Income Tax Law. Taxation House, Lahore.

⮚ Khawaja Amjad Saeed, Income Tax Law with Practical Problems,

Accountancy and Taxation Services Institute, Lahore.
⮚ Luqman Baig, Income Tax Law, Ghazanfar Academy, Karachi.

Page 73 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.2 Journal Articles/ Reports:

⮚ www.fbr.gov.pk

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Page 74 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Course Title: Business Law

Course Code: BSAT- 202 Credit Hours: 03
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course

This course provides basic understanding of the legislative environment and its principles that
are applicable to business. It also provides an overview of the laws related to businesses and
corporations. More specifically, it covers Contract Act 1872 and labor laws in the country.
2.0 Pre-Requisites Course or Other Requirements/Skills:
BAST-103 Accounting, Business and Society
3.0 Course Learning Outcomes:
1. Understanding legal principles applicable to business
2. Develop ability to enter into a formal contract and use legal remedies in case of
breech of contract
3. Understand basic frame work of labor laws of Pakistan
4.0 Course Contents:

Unit-I: Legal System of Pakistan

1.1 Sources and process of legislation
1.2 Structure of constitution of Islamic Republic of Pakistan
1.3 Process of legislation as per constitution, structure of courts, and alternate dispute
resolution – pros and cons
Unit-II: Contract Act 1872
2.1 Introduction and use
2.2 Basic Terminology
2.2.1 Contract, agreement, and process
2.2.2 Valid contract, its essentials, and factors influencing validity of contract
2.2.3 Different types of contracts
2.3 Offer and Acceptance
2.3.1 Types of offer
2.3.2 Offer and invitation
2.3.3 Essential elements of offer and acceptance
2.3.4 Timing of revocation and its communication

Page 75 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.3.5 Circumstances under which offer lapses

2.4 Capacity and consideration
2.4.1 Capacity of parties and circumstances when a person is not competent to
contract
2.4.2 Consequences or enforceability of contracts; not competent to enter into contract
2.4.3 Consideration and its elements, understanding its rules, identifying agreements
2.5 Free consent and legality of object and consideration
2.5.1 Free consent, consequences of absence of free consent, factors that affect free
consent
2.5.2 Coercion undue influence, fraud, misrepresentation, and mistake
2.5.3 Identifying where object or consideration or object becomes unlawful
2.5.4 Agreements opposed to public policy
2.6 Void, contingent and quasi contract
2.6.1 Void Agreement, circumstances under which agreement becomes void or
voidable
2.6.2 Different types of void and voidable agreements
2.6.3 Contingent contracts, their characteristics, rules and its difference with wagering
agreement
2.6.4 Quasi contract, its rules, and different kinds
2.7 Performance of a contract
2.7.1 Performance of a contract, its types: actual and attempted
2.7.2 Rules of joint and reciprocal contracts and appropriation for payment
2.7.3 Rules relating to a joint and reciprocal promises
2.7.4 Essentials of a valid tender, defining tender, its types and effects
2.7.5 Factors that may affect performance of a contract
2.7.6 Meaning of appropriation of payment and rules regarding appropriation of
payment
2.7.7 Assignment of contracts
2.8 Discharge of a contract and remedies for breach of contract
2.8.1 Meanings of discharge of contract, rules of discharge, and modes of discharge:
by performance, by consent, by operation of law, by impossibility of
performance, by lapse of time, and breach (actual or anticipatory)
2.8.2 Nature and availability of remedies

Page 76 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.8.3 Kinds of damages, remoteness of damages, and rules relating to amount of

damages

2.9 Indemnity and Guarantee

2.9.1 Contract of indemnity and contract of guarantee and difference between both
2.9.2 Identification of parties in contract of indemnity and guarantee
2.9.3 Rights of indemnity holder
2.9.4 Essentials of contract of guarantee, kinds of guarantee: specific and continuing
and revocation of continuing guarantee
2.9.5 Rights and responsibilities of surety, ways to discharge surety
2.9.6 Rules relating to indemnity, guarantee, and surety
2.10 Bailment and pledge
2.10.1 Bailment, essentials to contract of bailment, types of bailment, duties and right
of bailer and Bailee, termination of bailment
2.10.2 Rights and duties of finder of goods
2.10.3 Explaining pledge (pawn), pledger (pawnor), pledgee (pawnee), rights of
pledger and pledgee
2.10.4 Rules of pledge by non-owner
2.10.5 Difference between bailment and pledge
2.11 Agency
2.11.1 Defining agency, agent, and principal; types of agents; rights and duties of
agent and principal; and rules of agency
2.11.2 Differentiating sub agent and co-agent
2.11.3 Creation of an agency
2.11.4 Circumstances where an agent is personally liable
2.11.5 Irrevocable agency
2.11.6 Termination of agency
2.11.7 Undisclosed agency, position of agent, principal and third party
Unit-III: Sale of Goods Act 1930
3.1 Introduction
3.1.1 Definitions and scope
3.1.2 Essentials of a contract sales
3.1.3 Difference between sales and agreement to sell
3.1.4 Kinds of goods: Existing goods, future goods, contingent goods

Page 77 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.1.5 Destruction of goods

3.1.6 Fixation of price
3.2 Conditions and Warranties
3.2.1 Definitions and scope and difference between condition and warranties
3.2.2 Express and implied conditions and warranties
3.2.3 Doctrine of caveat Emptor and exceptions
3.3 Transfer of Property
3.3.1 Rules regarding transfer of property
3.3.2 Sale by Non owner
3.4 Performance of contract of sales
3.4.1 Delivery of goods, modes and rules of delivery
3.4.2 Rights and duties of buyer
3.5 Rights of unpaid seller
3.5.1 Definition, scope, and features of unpaid seller
3.5.2 Rights of unpaid seller
3.5.2.1 Rights against goods
3.5.2.2 Rights against buyer
3.6 Buyer’s rights against seller
3.7 Auction sales
Unit-IV: Labor Laws
4.1 Industrial Relations Ordinance, 2002
4.1.1 Application, scope, and definitions
4.1.2 Trade unions and freedom of associations, Registration of trade union
4.1.3 Collective bargaining agent
4.1.3.1 Selection of collective bargaining agent
4.1.3.2 Rights and duties
4.1.3.3 Check off
4.1.3.4 Shop steward
4.1.3.5 Joint works council
4.1.4 Industrial disputes and settlement
4.1.5 Strikes and lockouts
4.1.6 Labor courts: constitution, powers, and procedures
4.1.7 Unfair labor practices of employers and workmen
4.1.8 Penalty for unfair labor practices
Page 78 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.1.9 Rights and duties of parties

4.2 Factories Act, 1934
4.2.1 Definitions and scope
4.2.2 Inspector staff and his/her powers
4.2.3 Certifying surgeons: Health and safety of workers
4.2.4 Working hours
4.2.5 Child workers
4.2.6 holidays with pay
4.3 Payment of Wages Act, 1936
4.3.1 Definitions and scope
4.3.2 Payment of wages: wage periods, time of payment, deductions
4.4 Workmen Compensation Act, 1923
4.4.1 Definitions and scope
4.4.2 Employer liability for compensation
4.4.3 Amount of compensation

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF-03 Business Law - Study Text by ICAP
2. Business Law by Khalid Mehmood Cheema

9. Suggested Readings:

Page 79 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.1 Legislation

⮚ Contract Act, 1872

⮚ Sales of Goods Act, 1930

⮚ Industrial Relations Ordinance, 2002

⮚ Factories Act, 1934

⮚ Payment of Wages Act, 1936

⮚ Workmen Compensation Act, 1923

Page 80 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Principles of Management

Course Code: BSAT- 203 Credit Hours: 03
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course

Business organizations are becoming more and more complex in their structures, functions,
and operations. In this context, it is imperative to understand how business organizations are
managed to ensure efficiency and effectiveness. This course provides a basic overview of
principles of management in this regard.
2.0 Pre-Requisites Course or Other Requirements/Skills:
BSAT-102 Accounting, Business, and Society
3.0 Course Learning Outcomes:
1. Understanding scope and functions of business management
2. Learning to conduct external and internal strategic analysis
3. Understanding organizational and cultural factors within the scope of business
management
4. Understanding organizational behaviors and their implications for business
management
4.0 Course Contents:

Unit-I: Basics of Business Management

1.1 Management and leadership, their nature and scope
1.2 Leader vs. manager
1.3 Role of managers enunciated by Henry Mintzberg
1.4 Functions of Management: Planning, organizing, leading, and controlling
1.5 Role and skills of management
1.6 Managerial levels: roles, skills and hierarchy
Unit-II: Classical Approaches to Management

Page 81 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.1 Principles of scientific management by Fredrick Taylor

2.2 Management principles by Fayol and Urwick
2.3 Theories of management by Weber, Rosemary, Stewart, and Elton Mayo
2.4 Theories of management by Peter Drucker, Rosabeth Moss Kanter, and Mintzberg
2.4 Criticism on scientific management and classical theory
2.5 Bureaucratic organization and its critique
Unit-III: Behavioral and Management Science Approach
3.1 Hawthorne experiments on human relation approach, their significance and implications
for management
3.2 implications of experiments for management and organizational behavior
3.3 theory X, theory Y, and theory Z for their implications and differences
3.4 Operations research in business sciences
3.5 Management skills relating to time and stress management, innovation, creativity,
communication, mentoring and leadership
Unit-IV: External Factors and Business Management
4.1 Direct and indirect interactive forces including political, legal, health, and safety and
consumer protection forces that may affect organizational environment
4.2 Implications of external factors for business
4.3 Social, demographical, ecological, and competitive factors impact business environment
4.4 PESTEL
4.5 Competitors, supplier, labor, customers, and other external stakeholders
Unit-V: Organizational Structure
5.1 Mission and vision of an organization, nature of organizational structure and different
types of organizations
5.2 Different stakeholders of business
5.3 Organizational structures and their salient features: matrix, functional, divisional, virtual
5.4 Contingency theory of organization structure: Burns and Stalker mechanistic and organic
structure, Mintzberg’s five building blocks for organizational configuration with
examples of six organization configuration
5.5 Pros and cons of different organizational structure
Unit-VI: Organizational Change and Change Management
6.1 External forces creating changes in the performance of organizations
6.2 Change and process of change, and forms of reaction to change
6.3 Managing strategic change: change management, change levers, and management skills
Page 82 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.4 Approaches to change management: Lewin’s force field analysis, Lewin’s three step
approach, the change agent, Gemini 4 Rs and Mckinsey’s 7s approach
Unit-VII: Organizational Culture
7.1 Organizational culture and its different levels with examples
7.2 Different types of cultures and their efficacies in context of organizational performance
Unit-VIII: Perception and Attitude
8.1 Perception and its process, and it’s their affect
8.2 Differentiate between sensation and perception
8.3 Understanding perceiver (internal factors) and perceived (external factors), their
characteristics that affect perceptual selectivity
8.4 Perceptual problems/ distortions in dealing with other people like stereotyping and halo
effect etc.
8.5 Attitude, its components, with reference to organizational culture
8.6 Differences between cognitively based attitudes and affectively based attitudes
8.7 Difference between implicit and explicit attitudes
8.8 Cross cultural differences in the bases for attitudes
8.9 Relationship between attitude and behavior
Unit-IX: Job Satisfaction and Stress
9.1 Meaning and outcomes of job satisfaction
9.2 Means to enhance satisfaction
9.3 Stress and its causes
9.4 General categories of stressors or triggers of job stress that affect performance
9.5 Consequences of stress and strategies to cope up with stress
Unit-X: Motivation, Organizational Justice, and Theories
10.1 Understanding motivation with examples
10.2 Maslow need hierarchy model, its strengths and weaknesses
10.3 Herzberg’s two factor theory and its criticism
10.4 McClelland’s theory of needs and difference between intrinsic and extrinsic motives
10.5 Goal setting theory, its dimensions, its mechanism, and how to set effective goals and
related problems in goal setting
10.6 Self-efficacy: high and low self-efficacy
10.7 Law of effect, concept of reinforcement: positive and negative reinforcers
10.8 Organizational justice and its three components: distributive, procedural, and
interactional
Page 83 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

10.9 Equity theory and its implications

10.10 Vroom’s expectancy theory, its three elements: expectancy, instrumentality, and
valence
Unit-XI: Leadership and theories
11.1 Leadership, its styles: free rein, engaging, participative, task oriented, and autocratic
11.2 Different theories of leadership: trait theories, Blake and Mouton theory, situational and
contingency theories
11.3 Tannenbaum and Schmidt’s continuum model of leadership styles
11.4 Principles and need for adaptive change
11.5 Roles, skills and activities of leadership
Unit-XII: Group Dynamics and Team Work
12.1 Teams and groups, scope and differences
12.2 Individual and group behavior at work, formal and information group behavior
12.3 Balance theory of group formation
12.4 Concept and stages of team formation, team roles and performance of effective and
ineffective teams
12.5 Stages of group development, factors affecting group cohesiveness
12.6 Making teams more effective
Unit-XIII: Conflict and Negotiation
13.1 Conflict, its types and resolution process
13.2 Intergroup and individual level conflicts
13.3 Pros and cons of conflict in organization
13.4 Intra-individual conflicts with model of frustration
13.5 Physical, psychological and behavioral problems that occur due to conflict
13.6 Negotiation, its various stages and skills for effective negotiations
13.7 Role of mediators, arbitrators, conciliators, and consultants
13.8 Low risk and high risk techniques of negotiation
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Page 84 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

1. CAF-04 Business Management and Behavioural studies by ICAP

2. Daft, R. L., & Marcic, D. (2016). Understanding management. Cengage Learning.
3. Robbins, S. P., & Coulter, M. (2017). Management 13E. Pearson India.
4. Robbins, S. P. (2021). organizational-behavio.

Page 85 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Fundamentals of Cost Accounting

Course Code: BSAT-204 Credit Hours: 03
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course:

The Course deals with examining Cost Accounting as a tool for providing information for
manufacturing, internal reporting, external reporting as well as for managerial decision
making. The broad course objectives are to help students to understand the central concepts
of Cost Accounting, the methods of conducting data analysis preparation of reports for
managerial decision making.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Financial Accounting 1
3.0 Course Learning Outcomes:
1. This course provides basic understanding of cost account and its application to
business enterprise.
2. This course lays foundation of cost systems and helps student understand various
cost account concepts and techniques in business decision making process.
4.0 Course Contents:

Unit-I: Cost Accounting and Business Environment

1.1 Cost Terms, concepts, and classifications
1.2 Understanding difference between cost accounting and financial accounting, role
of cost accounting in an organization
1.3 Understanding there basic manufacturing cost categories with examples: Material,
labour, factory overhead
1.4 Understanding product and period cost, fixed cost and variable cost, direct and
indirect cost, differential cost, opportunity cost, sunk cost and their relevance
1.5 Calculating cost of goods sold in an income statement and preparation of cost of
goods sold statement

Page 86 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.6 Preparing schedule for cost of goods manufactured statement

Unit-II: Basis of Valuation
2.1 FIFO, weighted average, lower of cost and net realizable value
2.2 Learning to apply inventory valuation methods in simple scenarios and assessment
of their suitability to different scenarios
2.3 Comparing inventory valuation under different methods
2.4 Calculating NRVs of inventories in given scenario
Unit-III: EOQ, Safety Stock, Re-order Level
3.1 Understanding usability and application of EOQ and its calculation
3.2 Understanding safety stock, reasons to maintain it, and it calculation
3.3 Understanding reorder level, objectives to set up reorder level and its calculation
Unit-IV: Factory Overhead/Manufacturing Overhead – Actual and applied
4.1 Over or under absorption of overheads
4.2 Understanding and identification of manufacturing expenses with examples
4.3 Comparing manufacturing cost with selling and administrative costs
4.4 Understanding and calculating actual and applied overheads
4.5 Calculating actual and absorbed overheads from provided data
4.6 Analysing over and under absorption of overheads in terms of expenditure and
volume variance
4.7 Accounting for over or under absorption of overheads
Unit-V: Production and service department
5.1 Apportionment, allocation and absorption of service department, overheads to
production
5.2 Identification of production and service facility in manufacturing facility and
analysing their costs
5.3 Explaining basis of allocation of cost of service department to production
department
5.4 Allocating costs to production and service department using information provided
5.5 Allocating costs of service departments to production department using
information provided
Unit-VI: Labor Costing
6.1 Discussing productivity and efficiency measurement in relation to controlling
labor costs
6.2 Explaining concept of remuneration systems, incentive wage plans, and their types

Page 87 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.3 Learning to record labor cost

6.4 Explaining impact of learning curve theory on productivity of employees
Unit-VII: Manufacturing Cost Accounting Cycle
7.1 Explaining flow of cost in production process using examples
7.2 Learning to pass accounting entries for flow of cost
7.3 Factory ledger and General ledger
Unit-VIII: Job Order Costing
8.1 Learning to describe job order costing
8.2 Calculating cost of job and inventories by application of job order costing
8.3 Learning to pass accounting entries under job order costing system
Unit-IX: Process Costing
9.1 Learning to describe process costing
9.2 Understanding treatment of normal/ abnormal loss/ gain
9.3 Calculating cost of product and inventories using process costing
9.4 Learning to pass accounting entries under job process costing system
9.5 Learning to account for cost of rework, units added in subsequent departments,
N.R.V. of by-product in process account
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

1. CAF – 8 Cost and Management Accounting – Study Text by ICAP

Page 88 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2. Garrison, R. H., Noreen, E. W., Brewer, P. C., & Mardini, R. U. (2003). Managerial
accounting. New York: McGraw-Hill/Irwin.

9. Suggested Readings:

9.1 Books:

⮚ Drury, C. (2018). Cost and management accounting. Cengage Learning.

Page 89 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Advanced Financial Accounting

Course Code: BSAT-205 Credit Hours: 03
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course:

This course introduces students to Advanced Financial Accounting that encompasses

accounts related to joint stock companies and specialized accounts. As name signifies it
takes students to the advanced level of financial accounting. This course will help students
learn accounting pertinent to company’s share capital, bonds and debentures and company’s
financial statements. The course will also introduce to introductory level accounting concepts
related to consolidation of joint stock companies. This will also help comprehend
departmental accounts as specialized accounts. This course is designed in a way to serve as a
solid foundation for financial reporting and audit and assurance related courses.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1. Financial Accounting-I
2. Business Organizations and Society

3.0 Course Learning Outcomes:

After studying this course student should be able to:

1. Understand share and share capital, types of shares and share capital, accounting related
to issuance of shares, right and bonus shares.
2. Be able to do accounting related to bonds and debentures of joint stock companies
3. Prepare and analyze three major financial statements of joint stock companies
4. Prepare departmental accounts as part of specialized accounts.

4.0 Course Contents:

Unit-I: Introduction to Corporate Accounts and Share Capital

1.1 Companies, definition, features, types and legal documents of companies
1.2 Definition of share capital, Capital clause of Memorandum of Association, Types

Page 90 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

of share capital, Types of shares, accounting related to issuance of share capital

1.3 bonus shares, calculation of quantum of bonus, issuance of right shares,
Presentation of share capital in balance sheet
Unit-II: Bonds and Debentures
2.1 Introduction of bonds and debentures, need and objectives of bond issuance,
advantages and disadvantages of bond issue.
2.2 Interest calculations of bonds, taxation and interest expense, accruals related to bond
interest, investment in own bonds, redemption of bonds.
Unit-III: Company Final Accounts
3.1 Preparation of company final accounts
3.2 Income statement, balance sheet, statement of changes in owner’s equity
3.3 Adjusting entries related to final accounts.
Unit IV: Consolidation of Companies
4.1 Holding company, definition, Consolidation definition, advantages and
disadvantages of consolidation.
4.2 Procedure of consolidation, Rules for preparing consolidated balance sheet,
Amalgamation of companies, Liquidation of companies
Unit V: Departmental Accounts
5.1 Definition, advantages of departmental accounting
5.2 Methods of departmental accounts, Allocation of departmental expenses
5.3 Inter-departmental transfer, cost-based transfer price, market-based transfer price
5.0 Teaching-Learning Strategies:

Suggested, class discussions and applications of concepts using numerical problems and
relevant local and international case studies.

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and Written Paper Written Paper
Presentations, Attendance,

Page 91 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Class Participations and

Discipline etc.

8.0 Textbooks:

1. Meigs, W. B., & Meigs, R. F. (1962). Accounting: the basis for business decisions.
9.0 Suggested Readings:

1. Hanif & Mukharjee, Modern Accountancy, McGraw Hill Publishing Company,

India
2. Afzal & Arif, Advanced Accounting, Azeem Academy, Lahore, Pakistan
3. Ghani, Advanced Accounting, West Pak Publishing Company, Lahore, Pakistan
9.1 Additional Readings:
1. International Financial Report Standards (IFRS)

Page 92 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Banking Laws and Practices

Course Code: BSAT-206 Credit Hours: 03
Program: BS Accounting and Taxation Semester: III

1.0 Introduction of the Course:

This course aims to provide an understanding of history of banking since inception. It also
explains the banking laws and its historical perspective as well as contemporary banking laws
in Pakistan. Moreover, banking practices in the recent age is the central tenet of this course to
educate the young professionals for better understanding of the banking sector. This course
also covers emerging trends and cotemporary research in the banking sector to address the
prevailing banking streams i.e., conventional banking and Islamic banking.
2.0 Pre-Requisites Course or Other Requirements/Skills:
It requires basic understanding of business and commerce in addition to accounting,
quantitative techniques, and business/corporate laws.
3.0 Course Learning Outcomes:
1. Basic understanding of banking industry, its emergence/evolution and role in the
economy
2. To have an orientation about banking laws and its application in different regimes
3. To understand banking practices and regulatory compliance in Pakistan
4. To know the emerging trends and patterns in the banking sectors due to changing
needs (social, economic, or technological)

4.0 Course Contents:

Unit-I: Banking History
1.1 Inception and evolution of banking
1.2 Role of Bank
1.3 Pakistani banking sector
1.4 Banking developments in Pakistan

Page 93 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-II: Banks and Financial Markets

2.1 Role of Bank in financial markets
2.2 IPO and banking system
2.3 Financial environment and banking system of Pakistan
Unit-III: Types of Banks and Financial Institutions
3.1 Types of banks
3.2 Central Bank and its functions
3.3 Pakistani banking sector
Unit-IV: Interest Free Banking (Islamic Banking)
4.1 Interest-free Banking (Islamic Banking)
4.2 Difference between Islamic and Conventional Banking
4.3 Prohibition of Interest in Islamic Banking
4.4 History of Islamic Banking in Pakistan
4.5 Islamic Banking Contracts/Products
4.6 Functions of Islamic Bank
Unit-V: Banking Laws in Pakistan
5.1 Contract Act 1872
5.2 Negotiable Instrument Act 1881
5.3 The Banker’s Book Evidence Act 1891
5.4 Foreign Exchange Act, 1947
5.5 State Bank of Pakistan Act, 1956
5.6 Banking Companies Ordinance, 1962
5.7 Nationalization of Banks Act, 1974
5.8 Financial Institutions Finance (Recovery) Ordinance 2001
5.9 Anti-Money Laundering Act, 2010
Unit-VI: Requirements of Banking Companies Ordinance 1962 (Revised)
6.1 Preliminary
6.2 Banking business
6.3 Winding up of banking business
6.4 Banking Mohtasib
6.5 Miscellaneous
Unit-VII: Funds of Banks (Sources & Utilization)
7.1 Internal sources
7.2 External sources
Page 94 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.3 Funds utilization by banks

Unit-VIII: Operations & Products of Banks
8.1 Fund based operations products.
8.2 Non-fund-based operations & products
8.3 Agency services
8.4 General services
Unit-IX: Bank Customers (Retail/Individual)
9.1 Bank, banking company and customer
9.2 Functions of bank
9.3 Banker-Customer relationship
9.4 Right and duties of banker and customer
9.5 Personal accounts
Unit-X: Bank Customers (Corporate/Institutional)
10.1Legal requirements to open a bank account.
10.2Accounts of institutional customers (corporate entities)
Unit-XI: Cheques and Types of Checks
11.1Cheque and essentials of cheque
11.2Reasons for Dishonor/bounce of cheque
11.3Remedies regarding dishonor of cheque
11.4Types of cheques
11.5Crossed cheques.
Unit-XII: Banking Instruments
12.1Introduction
12.2Type of banking instruments
12.3Role of bank
Unit-XIII: Financing Products of Banks
13.1Type of financing products
13.2Short term financing products
13.3Medium-term financing products
13.4Long term financing products
Unit-XIV: Principles and Forms of Lending in Pakistan
14.1Type of bank lending
14.2Principles of bank lending
14.3Forms of lending
Page 95 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-XV: Foreign Exchange and Banks

15.1Foreign Exchange Act, 1947
15.2Role of banks in foreign exchange market
15.3Buying and selling of foreign currencies
Unit-XVI: Role of Banks in Economy
16.1Economic role of bank
16.2Merits and demerits of banking industry for economy
16.3Role of bank in the economy
Unit-XVII: Digital Banking
17.1Financial technology and banking
17.2Digitization of banking
17.3Products of digital banking
Unit-XVIII: Contemporary Banking Practices and Emerging Trends
18.1Banking Developments in Pakistan: A Journey from Conventional Banking to Islamic
Banking
18.2Islamic Banking Experience of Pakistan: Comparison of Islamic and Conventional
Banks
18.3Islamic Banking & Prohibition of Interest / Riba
18.4An Overview of the Operations/Products offered by Islamic Banks in Pakistan
18.5Investigation of Services Utilization Decisions in Islamic Banking: Role of Motives
and Behavior
18.6An Analysis of Functions of Functions performed by Islamic Banks: A Case of
Pakistan
18.7Comparative Study of Islamic Banking Products: Perception of Bankers and Islamic
Scholars
5.0 Teaching-Learning Strategies
The course will have combination of the instruction methodologies e. g. Class lectures, Video
lectures, Readings, Panel discussions, Seminars, Term project and presentations.

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

Page 96 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
Ahmad, A. (2021), Banking Laws & Practices in Pakistan, First Edition, Azeem
Academy, Pakistan.
9.0 Suggested Readings
9.1 Books
1. Ahmad, A. (2016). Comparative Study of Islamic Banking in Pakistan: Proposing &
Testing a Model, LAP LAMBERT Academic Publishing, Germany, ISBN
978-3-659-89322-3.
2. Siddiqi, A. H. (2007). Practice and Law of Banking in Pakistan, 8th Edition, Royal
Book Company, Karachi, Pakistan.
9.2 Journal Articles/ Reports

● Ahmad, A., Farooq, W. and Imran, M. (2021). Islamic Banking Products: A

Comparative Study of the Perception of Bankers & Scholars, Al-Qamar, 4(1), 31-44.
● Ahmad, A., Ullah, Z. & Manj, S. (2020). Investigation of Services Utilization
Decisions in Islamic Banking: Role of Motives and Behavior. Al-Qamar, 3 (1), 17-30.
● Ahmad, A. Danish, R., Ali, A. & Afzal, A. (2019). Comparative Study of Banking
Industry based on Appraisal System, Rewards and Employee Performance.
SEISENSE Journal of Management, 2(1), 4-14.
● Ahmad, A. & Bashir, R. (2014). An Investigation of Customer’s Awareness Level
and Customer’s Service Utilization Decision in Islamic Banking. Pakistan Economic
and Social Review, 52 (1), 59-74.
● Ahmad, A., Rehman, U.K., & Humayoun, A. A. (2011). Islamic Banking and
Prohibition of Riba/Interest. African Journal of Business Management, 5 (5),
1763-1767.
● Ahmad, A., Awan, U. R. & Malik, I.M. (2011). An Overview of the
Operations/Products offered by Islamic Banks in Pakistan. African Journal of
Business Management, 5 (11), 4185-4190.
● Ahmad, A., Malik, I. M. & Humayoun, A. (2010). An Analysis of Functions
performed by Islamic Bank: A Case of Pakistan. European Journal of Social
Sciences, 17 (1), 7-11.
● Ahmad, A., Humayoun, A. A. & Hassan, U. (2010). Banking Developments in
Pakistan: A Journey from Conventional Banking to Islamic Banking, European
Journal of Social Sciences. 17 (1), 12-17.

Page 97 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

● Ahmad, A., Rehman, U.K. & Saif, I. (2010). Islamic Banking Experience of
Pakistan: Comparison of Islamic and Conventional Banks, International Journal of
Business and Management, 5 (2). 137-144.
● Butt, Z.B., Rehman, U.K. & Ahmad, A. (2007). An Empirical Analysis of Market &
Industry Factors in Stock Returns of Pakistan Banking Industry. South Asian Journal
of Management, 14 (4), 7-19.

Page 98 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-IV

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Income Tax-II

Course Code: BSAT-214 Credit Hours: 3
Program: BS Accounting and Taxation Semester: IV

1.0 Introduction of the Course

This is the second course after being the discussion of taxation management-I in
semester-III. First part is designed to know about rules and regulations regarding
taxable income and calculation of taxable liability of non-salaried persons, association
of persons and companies. Second part is about the concepts/terms/definitions of Sales

Page 99 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Tax Act 1990. Rules regarding Sales Tax registration, Sales tax returns, output tax and
input tax adjustments and practical demonstrations regarding calculation of sales tax
liability are also the strengths of this course. This course may help the students who
want to become tax practitioners as their professional career.

2.0 Pre-Requisites Course or Other Requirements/Skills:

Income Tax-I
3.0 Course Learning Outcomes
1. This course would help the students to know about the calculation procedure of
taxable income and income tax liability for non-salaried persons, association of
persons and companies.
2. The students would be able to understand the sales tax registration, sales tax returns
and practical demonstration of sales tax calculations.
3. This course may help the students who want to become tax practitioners as their
professional career.
4.0 Course Contents:

Unit-I
1.1 Computation of Income from Business
1.1.1 Understanding the concept of income from business, Taxability of business
income, Income from business exempt from tax, income from speculation business,
admissible and inadmissible deductions.
Unit-II
2.1 Computation of Income from Business -Assessment of Non-Salaried Individuals,
Association of Persons (AOP) and Company
2.1.1 Assessment of Non-Salaried Individuals, AOP and Company based on different
heads of income under Income Tax Ordinance 2001. Practical Problems of the
above-mentioned persons.
Unit-III
3.1 Assessment Procedure

3.1.1 Legal provisions regarding furnishing of returns, assessment and different modes of
assessment.
3.1.2 Payment of taxes, recovery of taxes and refund of taxes.
3.1.3 Self-assessment scheme and its scope

Unit-IV
4.1 Set Off and Carry Forward of Losses
4.1.1 Understanding set off of losses concept.

Page 100 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.1.2 Set off of losses from various sources of income.

4.1.3 Carry forward of losses concept.
4.1.4 Carry forward of losses of different heads of income.
Unit-V
5.1 Penalties, Offences and Prosecutions
5.1.1 Offences and Penalties concept, description and exemption from penalty.
5.1.2 Prosecution for non-compliance of certain statutory obligations.
Unit-VI
6.1 Income Tax Authorities
6.1.1 Introduction, Understanding powers versus ethical responsibilities of tax
implementation authorities.
6.1.2 Understanding pillars of tax administration: fairness, transparency, equity, and
accountability.
6.1.3 Federal Board of Revenue-Administration and its functions.
6.1.4 Commissioners of Inland Revenue and its functions.
6.1.5 Officers of Inland Revenues
6.1.6 Appellate Tribunal Inland Revenue, its members and functioning of Appellate
Tribunal.

Unit-VII
7.1 Appeals
7.1.1 Appealable orders, procedure of appeal to Commissioners of Inland Revenue.
7.1.2 Appeal to Appellate Tribunal.
7.1.3 Alternative dispute resolution.
Unit-VIII
8.1 Filing of Returns
8.1.1 Nature, need and importance of E filing system.
8.1.2 E filing of returns by a person through IRIS system.
8.1.3 Practical demonstration of E filing.
5.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

Page 101 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Case Study, Reading Assignment

6.0 Assignments

6.1.1 Assignment regarding applicability of Income tax rules/return will be given after
midterm examination.
6.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks (Latest Editions)

1. Muhammad Muazzam Mughal, Income Tax: Principles and Practice,
Syed Mobin Mahmud & Co, Lahore.
2. CAF-06 Principles of Taxation by ICAP.
3. Mirza Munawar Hussain, Synopsis of Taxes in Pakistan, IBP
Publications.

9.0 Suggested Readings

9.1 Books
⮚ Govt. of Pakistan, Income Tax Ordinance 2001, Sales Tax Act 1990 and
relevant laws.
⮚ Huzaima & Ikram, Law and Practice of Income Tax.

⮚ R.I. Naqvi, Income Tax Law. Taxation House, Lahore.

⮚ Khawaja Amjad Saeed, Income Tax Law with Practical Problems,

Accountancy and Taxation Services Institute, Lahore.
⮚ Luqman Baig, Income Tax Law, Ghazanfar Academy, Karachi.

9.2 Journal Articles/ Reports

⮚ www.fbr.gov.pk

Page 102 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Principles of Marketing

Page 103 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Course Code: BSAT- 212 Credit Hours: 03

Program: BS Accounting and Taxation Semester: IV

1.0 Introduction of the Course:

This course provides basic understanding of marketing and its relevance to the modern
business enterprise. This course enables student to understand marketing process, marketing
planning, marketing research, consumer markets and buying behavior, market segmentation,
product mix, product planning and development, branding, price determination and strategies,
retailing, promotional program, advertising and sales promotion.

2.0 Pre-Requisites Course or Other Requirements/Skills:

BSAT-102 Accounting, Business and Society

3.0 Course Learning Outcomes

1. Understanding marketing concepts relevant to modern day business

2. Develop ability to design and execute marketing strategy
3. Learning to use 4Ps of marketing
4.0 Course Contents:

Unit-I: Introduction
1.1 Marketing, its scope and core concepts
1.2 Major trends and forces that are changing the marketplace in modern age
1.3 Marketing strategy and its elements
1.4 Working with partners to create and deliver customer value
Unit-II: Marketing Environment
2.1 Micro and macro environmental factors
2.2 Understanding how changes in demographic and economic environment affect marketing
decisions
Unit-III: Managing Marketing Information
3.1 Marketing information and importance of information to the company
3.2 Marketing research, its scope and value
Unit-IV: Consumer markets and behavior
4.1 Consumer markets and their functions

Page 104 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.2 Consumer buying behavior, its elements, and relevance to marketing

4.3 Internal and external factors that influence consumer buyer behavior
Unit-V: Market Segmentation
5.1 Market segmentation, its relevance and importance
5.2 Market Targeting, progress and importance
5.3 Building competitive advantage through differentiation and positioning
Unit-VI: New product development
6.1 New product development, scope and process
6.2 Implications for marketing
Unit-VII: Branding
7.1 Concept of product and services in marketing
7.2 Branding and its application in marketing strategy
Unit-VIII: Pricing
8.1 Concept of pricing in marketing
8.2 Importance of price in today’s fast changing environment
8.3 Major strategies for pricing imitative and new products.
Unit-IX: Distribution and its Channels
9.1 Distribution channels in marketing
9.2 Functions and organization of distribution channels
9.3 Retailing and wholesaling in distribution channels
Unit-X: Promotion Mix
10.1 Promotion in marketing
10.2 Communication process and effective promotion
10.3 Advertising and selling
10.4 Tools of promotion
Unit-XI: Digital Marketing
11.1 Digital marketing, media, and its relevance to modern market place
11.2 Tools of digital marketing
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

Page 105 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

Kotler, P. (2010). Principles of marketing: a South Asian perspective, 13/E. Pearson

Education India.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Audit and Assurance-I

Page 106 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Course Code: BSAT-213 Credit Hours: 03

Program: BS Accounting and Taxation Semester: IV

1.0 Introduction of the Course:

This course provides an introduction to the role of assurance in modern governance and
accountability frameworks, with a more specific focus on the roles of and the techniques used
by auditors. This is a crucial element of the stewardship role that finance professionals
perform in modern organizations and is also relevant to the roles of enabler and innovator and
business partner.

2.0 Pre-Requisites Course or Other Requirements/Skills:

Financial Accounting

3.0 Course Learning Outcomes:

1. This course provides practical understanding of international audit standards and

their application in modern corporate world.
2. After studying this course, students would be able to understand objectives and
application of audit standards and its requirements as applicable in Pakistan.

4.0 Course Contents:

Unit-I: Introduction
1.1 International Federation of Accountants (IFA) and International
1.2 Reading History, Mission and vision of IFA
1.3 Auditing and Assurance Standard Setting Body (IAASB)
1.4 Objectives and general principles governing an audit (ISA 2000) -
1.5 Understanding objectives and functions of IAASB
1.6 Understanding objectives of audit; accountability, stewardship, agency, independence,
fair presentation
1.7 Understanding overall objectives of an independent auditor
1.8 Understanding assurance and its levels: absolute, reasonable, and limited assurance
including elements of an assurance engagement, assurances provided by audit and
review engagement
1.9 Explaining requirements of an external audit, eligibility, and ineligibility of auditor

Page 107 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.10 Explaining rights and duties of auditors, nature and scope of an audit designed to
enable the independent auditor to meet those objectives
1.11 Outlining requirements establishing general responsibilities of an independent auditor
applicable in all audits including consideration of inherent limitations of an audit
1.12 Discussing concepts like professional skepticism, interim and final audit,
1.13 Listing audit procedures that can be performed by the external auditor at the interim
and final stage of an audit
1.14 Understanding audit of not-for-profit organizations
Unit-II: Responsibility for the Financial Statements
2.1 Auditor’s responsibility to consider fraud (ISA 240)
2.2 Understanding responsibility of management and those charged with governance for
financial reporting and related internal control on financial reporting
2.3 Understanding difference between error, fraud, and misstatement, and responsibilities
of management and auditors for fraud
2.4 Describing matters to be considered and procedures to be carried out to assist the
auditors in identifying, assigning, and detecting the risk of material misstatement due
to fraud
2.5 Identifying the fraud risk factors in simple scenario as given in appendix 1 of ISA 240
2.6 Identifying circumstances that indicate the possibility of fraud in the simple scenario as
given in the appendix 3 of ISA 240
Unit-III: Appointment and Removal of Auditors
3.4 Legal considerations relating to appointment and removal of auditors (Section 246 to
253 of Companies Act 2017)
3.5 Terms of Audit engagements (ISA 210)
3.6 Explaining procedure of appointment and removal of first and subsequent auditor
3.7 Understanding qualification and disqualification of an auditor
3.8 Describing powers and duties of an auditor
3.9 Describing concept of audit of cost accounts
3.10 Discussing additional matters to be included in auditor’s report
3.11 Understanding precondition for an audit and upon which it is necessary for the auditor
and the entity’s management to agree
3.12 Responding if preconditions are not present or limit is imposed on scope of audit in
well explained simple situations
3.13 Stating content of an audit engagement letter
Page 108 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.14 Understanding requirement of issuance of engagement letter and factors that

necessitate the issuance of engagement letter in case of recurring audit
3.15 Discussing circumstances of acceptances of changes in terms of engagement by the
auditor
Unit-IV: Planning an Audit
4.1 Planning an audit (ISA 300)
4.2 Assessment of audit risks (ISA 315 and 330)
4.3 Understanding need for planning an audit including contents of an audit plan and its
relation with risk assessment
4.4 Understanding contents of overall audit strategy and audit plan
4.5 Stating who should be involved in planning and preliminary engagement activities
necessary to conduct audit
4.6 Outlining additional considerations, while planning initial audit
4.7 Discussing risk based approach to auditing including audit risk model
4.8 Identify inherent risk, control risk, and detection risk in simple scenario
4.9 Explaining relationship between audit risk, and its components i.e. inherent risk,
control risk, and detection risk
4.10 Discussing identification and assessment of the risk of material misstatement at both
the financial statement level and assertion level, including understanding of entity, its
environment, accounting and internal control systems
4.11 Explaining elements of internal control, evaluation of controls, control environment
and communication of deficiencies to management
4.12 Explaining categories of control activities (internal controls) by using simple examples
including Application and General IT Controls
4.13 Explaining control weaknesses in a given scenario ad suggesting to remove these
4.14 Understanding limitations of internal control system
4.15 Discussing risks associated with specialized IT systems
4.16 Explaining different methods of recording internal control systems
Unit- V: Audit Materiality
5.1 Audit Materiality (ISA 320)
5.2 Audit evidence (ISA 500)
5.3 Understanding concept of materiality and performance materiality using simple
examples
5.4 Explaining materiality level or levels for particular classes of transactions, account
Page 109 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

balances, or disclosures
5.5 Explaining relationship between audit risk and level of materiality
5.6 Explaining sufficient audit evidence and general principles assisting auditor in
assessing the relevance and reliability of audit evidence
5.7 Discussing audit procedures to obtain audit evidence including types of audit
procedures
5.8 Discussing course of action available to auditor in case sufficient appropriate audit
evidence is not obtained
5.9 Explaining financial statement assertions including assertions about class of
transactions, account balances, or disclosures
5.10 Explaining audit work related to inventory
Unit-VI: Audit Sampling
4.5 Audit sampling (ISA 530)
4.6 Substantive procedures (ISA 330)
4.7 Explaining audit sampling, statistical sampling, and sampling and non-sampling risks,
relationship between sampling and audit risk model
4.8 Explaining matters to consider for sampling design, size and selection of items for
testing using simple examples including sample selection method
4.9 Discussing concept of mistreatment and rate of deviation including expected and
tolerated
4.10 Stating audit procedures to be performed on selected sample
4.11 Discussing concept of projecting mistreatment and evaluating results of audit sampling
4.12 Understanding financial statement assertions
4.13 Describing advantages and disadvantages of both test data and audit software
4.14 Learning to use computer software in substantive testing, auditing around the computer
and directional testing
4.15 Discussing methods of obtaining audit evidence for substantive testing
4.16 Explaining nature, extent, and timing of substantive procedures for different items of
financial statements
Unit-VII
7.1 Tests of controls (ISA 330) Analytical procedure (ISA 520)
7.2 Exemplifying nature, timing and extent of test of controls
7.3 Explaining concept of Computer Assisted Audit Techniques
7.4 Exemplifying how auditors evaluate the operating effectiveness of controls

Page 110 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.5 Explaining controls over major transaction cycles including related risks, weaknesses
control objectives, and designing appropriate tests of controls
7.6 Exemplifying nature and purpose of substantive analytical procedure
7.7 Stating purpose of analytical procedures performed near end of audit
7.8 Using analytical procedures through calculation of different ratios for different items of
financial statements
7.9 Understanding factors to be considered when using analytical procedures as
substantive procedures
7.10 Explaining course of actions when results of analytical procedures identify fluctuations
and inconsistencies

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

CAF – 09 Audit & Assurance – Study Text by ICAP

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Advanced Cost Accounting

Course Code: BSAT-214 Credit Hours: 03

Program: BS Accounting and Taxation Semester: IV

Page 111 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.0 Introduction of the Course:

Advanced cost accounting involves the in-depth study of the principles and objectives of the
techniques and theories used in cost accounting. Topics such as capital budgeting,
manufacturing accounting, cost control systems, performance measurement, and quantitative
techniques for planning and control will be discussed. The strategic and behavioral
implications and impacts of planning and control will form the context for study.

2.0 Pre-Requisites Course or Other Requirements/Skills:

Fundamentals of Cost Accounting
3.0 Course Learning Outcomes
1. This course provides advance understand of cost accounting.
2. Focus of this course is to enable students to understand budgets, process of
budgeting and decision making in cost accounting.
4.0 Course Contents:

Unit-I: Introduction
1.1 Introduction to course
1.2 Basics of cost allocations and its importance
1.3 Understanding basic terminology and revision of basics
1.4 Introduction to different costing systems and their uses
Unit-II: Treatment of Joint and By-Product
2.1 Understanding joint and by product using examples
2.2 Allocation of joint production costs using sales values, physical units, average units,
and weighted average methods
2.3 Learning to account for by products using recognition of gross revenue, recognition
of net revenue, and replacement cost approaches
Unit-III: Cost of Service Rendered
3.1 Explaining how departmentalization in a service organization helps in cost planning
and control
3.2 Learning to calculate cost of services rendered by a service organization
Unit-IV: Costing Systems: Marginal Costing
4.1 Explaining and applying marginal costing and understanding its role in decision
making
Unit-V: Costing Systems: Absorption Costing

Page 112 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.1 Explaining and applying absorption costing and understanding its role in decision
making
5.2 Comparison of marginal and absorption costing and learning to reconcile differences
in profits in two systems
Unit-VI: Activity Based Costing
7.1 Understanding Activity Based Costing (ABC) and discussing its differences with
traditional costing methods
7.2 Learning to segregate cost pools, computing activity rates, and assigning cost to cost
object
7.3 Using activity based costing to a given scenario
Unit-VII: Standard Costing
7.1 Variance analysis
7.2 Explaining standard costing using examples
7.3 Performing standard setting for material, labor and FOH
7.4 Calculating and analyzing various variances relating to material, labor, and FOH
Unit-VIII: Target Costing
8.1 Discussing target costing and understanding how target cost is determined
8.2 Applying target costing tools in given scenario

5.0 Teaching-Learning Strategies

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

Page 113 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1. CAF – 8 Cost and Management Accounting – Study Text by ICAP

2. Garrison, R. H., Noreen, E. W., Brewer, P. C., & Mardini, R. U. (2003).
Managerial accounting. New York: McGraw-Hill/Irwin.

9. Suggested Readings:

9.1 Books
Drury, C. (2018). Cost and management accounting. Cengage Learning.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Public Sector Accounting

Course Code: BSAT-215 Credit Hours: 03
Program: BS Accounting and Taxation Semester: IV

1.0 Introduction of the Course:

Page 114 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

The course examines the role of government and Not-for-Profit Organizations and its
mechanisms for control over public expenditures and resources to ensure greater efficiency
and effectiveness in government activities. It considers the public sector environment and
how it differs from private markets, including the roles of externalities and accountability. It
examines major issues in public sector financial management; the use of cash and accrual
accounting information systems; management of financial and physical assets including
environmental and heritage considerations; marketisation of public sector activities;
performance measurement issues for departments of state; management and performance of
government business enterprises including privatisation issues; public sector audits and roles
of the Auditor General and accountability issues; role of the budget, budget process and
management, and cash and accrual budgeting systems.
2.0 Pre-Requisites Course or Other Requirements/Skills:
1 Financial Accounting 2
2 Financial Reporting 2
3.0 Course Learning Outcomes:
1. Governmental and Not-For-Profit Accounting focuses on the development and use
of financial information as it relates to governmental and not-for-profit entities.
2. The course coverage includes identifying and applying appropriate accounting and
reporting standards for governments and private not-for-profit organizations,
preparing fund basis and government-wide statements for state and local
governments, preparing financial statements for private not-for-profit
organizations, using nonfinancial performance measures to evaluate governmental
and not-for-profit entities, and describing auditing requirements for these entities.
4.0 Course Contents:

Unit-I: Overview of Accounting for Governmental and Not-for-Profit Entities

1.1 Obtain an overview of financial reporting for nonbusiness entities.
1.2 Distinguish between private and public sector organizations.
1.3 Identify the sources of authoritative accounting standards for various public and
private sector organizations.
1.4 Define the 11 fund types used by state and local governments.
Unit-II: Overview of Financial Statements for State and Local Government
2.1 Obtain an overview of the contents of a governmental financial report.
2.2 Define the governmental reporting entity.

Page 115 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.3 Illustrate the basic financial statements for a state or local government.
Unit-III: Basic Accounts Used by Governmental Funds
3.1 Describe the basic accounts used by governmental funds.
3.2 Identify the recognition criteria for revenues and expenditures under the modified
accrual basis.
3.3 Apply fund balance classifications for governmental funds.
3.4 Prepare journal entries for the expenditures cycle using both budgetary and activity
accounts
Unit-IV: Accounting for the General and Special Revenue Funds
4.2 Apply the modified accrual basis of accounting in the recording of typical transaction
of a General or special revenue fund.
4.3 Prepare closing entries and classify fund balances.
4.4 Prepare the fund- basis financial statements for a General or special revenue fund.
Unit-V: Accounting for Other Governmental Fund Types
5.1 Capital Projects, Debt Service, and Permanent
5.2 Apply the modified accrual basis of accounting in the recording of typical
transactions of capital projects, debt service, and permanent funds.
5.3 Prepare the fund- basis financial statements for a governmental funds.
Unit-VI: Proprietary Funds
6.1 Apply the accrual basis of accounting in the recording of typical transactions of
internal service and enterprise funds.
6.2 Prepare the fund- basis financial statements for proprietary funds.
6.3 Identify when an activity is required to be reported as an enterprise fund.
6.4 Contrast statements of cash flow prepared under GASB guidelines with those
prepared under FASB guidelines.

Unit-VII: Government-Wide Statements, Fixed Assets, Long-Term Debt

7.1 Perform the steps necessary to prepare government- wide financial statements,
including:
7.2 Prepare worksheet entries to convert the governmental fund records to the economic
resources measurement focus and the accrual basis of accounting.
7.3 Prepare worksheet entries to include internal service funds with governmental
activities.

Page 116 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.4 Prepare required schedules reconciling the government- wide and fund-basis financial
statements.
7.5 Record events and transactions related to general fixed assets and general long- term
debt and describe required schedules related to long- term debt.
Unit-VIII: Accounting for Private Not-for-Profit Organizations
8.1 Describe characteristics of private not- for- profit organizations and the accounting for
contributions.
8.2 Apply the accrual basis of accounting in the recording of typical transactions of
private not- for- profit organizations.
8.3 Prepare the financial statements for private not- for- profit organizations.
Unit-IX: College and University Accounting—Private Institutions
9.1 Apply the accrual basis of accounting in the recording of typical transactions for
private not- for- profit colleges and universities.
9.2 Prepare the financial statements for private not-for-profit colleges and universities.
Unit-X: Accounting for Hospitals and Other Health Care Providers
10.1 Describe the reporting requirements of varying types of health care organizations.
10.2 Apply the accrual basis of accounting in the recording of typical transactions of a
not- for- profit health care organization.
Unit-XI: Auditing, Tax-Exempt Organizations, and Evaluating Performance
11.1 Describe the unique characteristics of audits of governmental and not-for-profit
entities
11.2 Describe the major requirements of the Single Audit Act
11.3 Describe the process of applying for tax-exempt status and the reporting
requirements.
11.4 Identify when a not-for-profit organization is subject to the unrelated business
income tax.
11.5 Identify financial ratios commonly used to evaluate governmental and not-for-profit
entities and describe how they are calculated and interpreted.
5.0 Teaching-Learning Strategies

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

Page 117 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Copley, P. A. (2011). Essentials of Accounting for Governmental and
Not-for-profit Organizations. McGraw-Hill.
2. Wilson, E. R., Reck, J. L., & Kattellus, S. C. (2010). Accounting for
governmental and nonprofit entities. McGraw-Hill Irwin.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Business Research Methods

Course Code: BSAT-216 Credit Hours: 03

Program: BS Accounting and Taxation Semester: IV

1.0 Introduction of the Course

Page 118 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Building on Principles of Research Design this course aims to extend and deepen the
understanding of different research approaches and methodologies in order to prepare
students for their own research projects in their business discipline. This course will assist
students in identifying, discussing and formulating a research problem, in selecting and
applying appropriate research approaches and methods of inquiry (both quantitative or
qualitative), and in presenting their results. Successful completion of this course should be
sufficient for students to undertake a research project.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Accounting, Business, and Society
3.0 Course Learning Outcomes
1. This is a basic course in research methodology.
2. This course enables student to understand a rigorous research process.
3. The final outcome of this course is to equip students with necessary
conceptualizations and tools of research, so that he/she could conduct research a
business problem.
4.0 Course Contents:

Unit-I: Introduction
1.1 Nature and scope of research and its application to business, management and social
sciences
1.2 Getting to know types and traditions in research: Basic vs. applied; qualitative,
quantitative, and mixed method; exploratory, descriptive, explanatory
1.3 Understanding basic research process
1.4 Learning to choose a viable area of research and research topic
Unit-II: Research Approach, Philosophies, Designs, Methods, and Data
2.1 Describing research onion and its relevance to a structured research
2.2 Understanding philosophical world views and paradigms
2.3 Understanding different research approaches and their application
Unit-III: Ethical Concerns in Social and Business Research
3.1 Understanding ethical considerations and conduct in business and social sciences
research
3.2 Understanding issues pertaining to gaining access, privacy, confidentiality, free
consent, and other ethical issues at different stages of research
3.3 Learning to avoid biases in business and social research

Page 119 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-IV: Structure of Research Report

4.1 Understanding basic structure of a research report and research paper
4.2 Learning to write a research report
4.3 Learning about research proposal and its tone
4.4 Learning practical aspects of research report writing
Unit-V: Doing Literature Review
5.1 Learning to conduct an effective literature review
5.2 Forms of literature and its relevance to research process
5.3 Learning to identify research gap
5.4 Understanding referencing and using APA 6
5.5 Understanding plagiarism and its consequences
Unit-VI: Using Theory in Research
6.1 Understanding theory and its relevant aspects
6.2 Learning to use theory in research process and its relevance to research process
6.3 Building a theoretical framework and understanding its role in research
6.4 Differentiating theoretical and conceptual framework
Unit-VII: Sampling Design
7.1 Understanding population, sample, need and value of sampling
7.2 Learning to use different types of sampling techniques and understanding their pros
and cons
Unit-VIII: Qualitative Methods of Research
8.1 Understanding qualitative methods of research, their use in business and
management research
8.2 Methods of qualitative data collection, their pros and cons
8.3 Understanding role of research in qualitative research
8.4 Learning different traditions of qualitative research: ethnography, case study,
grounded theory, content analysis,
Unit-IX: Analysis of Qualitative Data
9.1 Understanding nature of qualitative data and means to collect and record data
9.2 Learning to transcribe and code the data
9.3 Learning to use NVivo for qualitative data analysis
9.4 Learning to interpret the results
Unit-X: Quantitative Method of Research
10.1 Understanding quantitative methods and their uses in business and management
Page 120 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

research
10.2 Learning to collect data through surveys, experiments and secondary sources
10.3 Learning about variables, their types and measurement
Unit-XI: Analysis of Quantitative Data
10.4 Understanding nature of quantitative data and scales to measure data
10.5 Learning to use descriptive statistics, graphs, correlation and regression analysis in
SPSS
10.6 Understanding interpretations of results
Unit-XII: Mixed Method Approach
11.1 Understanding nature, emergence and value of mixed method approach
11.2 Understanding types of mixed methods research and using these
11.3 Use of triangulation and interpreting and relating results

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:

1. Saunders, M., Lewis, P., & Thornhill, A. (2003). Research methods

forbusiness students. Essex: Prentice Hall: Financial Times.
2. Creswell, J. W. (1994). Research design.

Page 121 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 122 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 123 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 124 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 125 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-V

Page 126 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Financial Management

Course Code: BSAT-301 Credit Hours: 3
Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course

This is an introductory course and first in the series of finance courses. After studying this
course, the students would be able to develop a basic understanding of financial decision
making by a financial manager in a business organization. This course will also provide the
students to learn about financial markets mechanism, cash flows of business firms, financial
planning and budgeting. The students would also be get benefited to know about the various
techniques of financial statements analysis and its application for business decision making.
To learn about the application of time value of money concept and its practical problems is
also important for a finance learner. The students would also know about working capital
management. Current assets and current liabilities management and its impact on liquidity
and profitability.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1. Financial Accounting
2. Money and Banking
3. Business Mathematics

3.0 Course Learning Outcomes:

1. This course will provide the students to learn about financial markets mechanism,
cash flows of business firms, financial planning and budgeting.
2. The students would be able to learn about the application of time value of money
concept and its practical problems.

3. The students would also know about working capital management, Current assets and
current liabilities management and its impact on liquidity and profitability

4.0 Course Contents:

Unit-I
1.1 Introduction to Financial Management

Page 127 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.1.1 Introduction to financial management, significance of financial management,

relationship with other fields, career opportunities in financial management.
Financial management and goal of a business firm, agency problem, corporate
governance, corporate social responsibility, ethics and firm’s goal, role of financial
manager in a business firm.
1.1.2 Financial environment and financial markets, financial intermediaries, financial
brokers, allocation of funds in the economy and interest rate fundamentals.
Unit-II
2.1 Financial Statements Analysis
2.1.1 Financial reporting, users of financial statement analysis, ratio analysis, common
size analysis (vertical analysis), comparative analysis, trend analysis and index
analysis (horizontal analysis). Types of comparisons.
2.1.2 Liquidity Ratios, understandings and decision making by using current ratio, acid
test ratio, cash ratio etc.
2.1.3 Debt Ratios/Solvency/Gearing Ratios, its understanding and decision making by
using debt ratio, debt/equity ratio, interest coverage ratio etc.
2.1.4 Activity/turnover/efficiency Ratios and its application in decision making.
2.1.5 Profitability Ratios and decision making by using these ratios.
2.1.6 Market Ratios and their uses in decision making.
2.1.7 Limitations of ratio analysis.
Unit-III
3.1 Financial planning, forecasting and budgeting
3.1.1 Concept, need and importance of preparation of cash budget and budgeted
financial statements, master budget, zero base and incremental budgeting
concepts, estimating sales and concept for preparation of cash budget.
3.1.2 Pro-forma income statement and statement of financial position, methods for
preparation and practical use of these financial statements.
3.1.3 Sensitivity and scenario analysis in cash budget and pro-forma financial
statement.
Unit-IV
1.1 Time Value of Money
1.1.1 Introduction, simple interest and compound interest concepts, time line,
compounding and discounting.
1.1.2 Calculation of future value and present value of single amount, annuity and mixed
stream. Calculation of present value of perpetuity.

Page 128 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.1.3 Amortizing loan, deposits to accumulate some future sum, finding missing rate of
return and time periods.
1.1.4 Nominal and effective interest rates concepts.
1.1.5 Practical problems relating to the above-mentioned concepts, calculating future
and present value by using spread sheet.
Unit-V Working Capital Management
5.1.1 Working capital overview and its practical importance, gross and net working
capital, positive and negative working capital concept, its relationship with
liquidity and profitability.
5.1.2 Cash and marketable securities management, accounts receivable management
managing credit policy, collection policy, credit selection and credit standards,
cost benefit analysis and decision making.
5.1.3 Inventory management, techniques for managing inventory in a business firm,
ABC, EOQ, evaluating bulk purchase and EOQ purchase, just in time methods for
managing inventory.
5.1.4 Accounts payable management in a business firm. Evaluating discount offering by
the suppliers of merchandise and cost of giving discount, managing other payables
and accruals.
5.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

6.0 Assignments

6.1.1 Financial Statement analysis of various companies’ annual reports which are listed
on Pakistan Stock Exchange.
6.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

7.0 Assessment and Examinations:

Page 129 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.Textbooks
1. Gitman, L. J., Juchau, R., & Flanagan, J. (2015). Principles of managerial
finance. Pearson Higher Education AU.
2. Van Horne, J. C., & Wachowicz, J. M. (2005). Fundamentals of financial
management. Pearson Education.
9. Suggested Readings
9.1 Books
1. Brigham, E. F., & Houston, J. F. (2021). Fundamentals of financial
management. Cengage Learning..
2. Keown, A. J., Scott, D. F., Martin, J. D., Martin, J. H., & Petty, J. W. (2020).
Basic financial management. Prentice Hall.
3. Morrison, A., & Macmillan, A. (2007). Financial fundamentals. In Franchising
hospitality services (pp. 132-160). Routledge.
4. Brigham, E. F., & Ehrhardt, M. C. (2013). Financial Management: Theory &
Practice (Book Only). Cengage Learning.
9.2 Journal Articles/ Reports

⮚ The Economist

⮚ Charted Financial Analyst Journal

⮚ The Financial Times

⮚ Business Recorder

⮚ The Financial Daily

Page 130 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Audit and Assurance-II

Course Code: BSAT-302 Credit Hours: 03
Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course:

Examines auditing theory and practice, emphasizing audit standards, audit evidence, internal
controls, auditors’ reports and professional ethics, sampling, accountants’ liability, and audit
programs. The course is designed to provide in-depth study of auditing principles, concepts,
and practices as it applies mainly to business and investors. Further, it will provide the
student with a working knowledge of auditing procedures and techniques, standards, ethics
and legal environment, statistical audit tools as well as audit reports.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Audit and Assurance 1
3.0 Course Learning Outcomes:
1. Purpose of this course is to provide student with understanding of Audit procedures as
provided by IAS.
2. After studying this course student would be able to understand documentation, audit
opinion, and engagement of auditor with other parties in due course.
3. This course also relates to the ethics in auditing profession.

4.0 Course Contents:

Unit-I: Documentation (IAS 230)

1.1 Explaining purpose, nature, form, content and extent of audit documentation
1.2 Discussing use of computer based audit working papers

Page 131 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.3 Explaining difference between permanent and current working papers with examples
1.4 Listing content of working paper file/ audit documentation
1.5 Discussing ownership, custody and confidentiality of audit working papers
1.6 Understanding nature of assembly of final audit file
1.7 Explaining features of audit working papers
Unit-II: Audit Opinion and Form of Audit Report
10.1 Audit Opinion and Form of Audit Report under International Standards on Auditing
and under the Companies Act 2017 and Going Concern (ISA-570 Revised)
10.2 Understanding modified and unmodified audit opinion, qualified opinion, disclaimer
of the opinion, and adverse opinion
10.3 Explaining emphasis of matter and other matter in auditor’s report
10.4 Listing circumstances under which an external auditor uses an emphasis of matter and
other matter paragraph in auditor’s report
10.5 Discuss modification of audit opinion, and audit report in different situations
including when entity is not a going concern and related concepts
10.6 Learning to draft opinion paragraph
10.7 Understanding key audit matters and other related concepts as per ISA 701.
10.8 Stating contents of auditor’s report under ISA and under Companies Act 2017 and
discussing their differences
10.9 Stating penalty for noncompliance with provisions related to audit report.
Unit-III: External Confirmations (ISA 505)

3.1 Defining external confirmation and listing types of third party confirmations available
to an external auditor
3.2 Describing significance of using external confirmation procedures for obtaining
relevant and reliable audit evidence
3.3 Describing steps involved in external confirmation procedures
3.4 Differentiating between the positive confirmation request and negative confirmation
request, including their appropriateness in different situations
3.5 Discussing conditions of sending negative confirmations
3.6 Discussing auditor’s course of action if management refuses to allow auditor to send
confirmation

Unit-IV:

Page 132 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.1 Subsequent events (ISA 560)

4.2 Written representation (ISA 580)
4.3 Explaining subsequent events and their relevance with following critical dates: date of
financial statements, date of approval of financial statements, Date of auditor’s report,
Date the financial statements are issued
4.4 Explaining subsequent event review process
4.5 Discussing classification of subsequent events into adjusting and non-adjusting events
4.6 Describing auditor’s responsibility in situations: events occurring between dates of
financial statement and date of auditor’s report, facts which become known to auditor
after date of auditor’s report but before data of issuance of financial statements, facts
become known to auditor after issuance of financial statement
4.7 Identification of subsequent events and explaining response of auditor’s
4.8 Discussing nature of written representations as audit evidence
4.9 Discussing circumstances where written representations are necessary and the matter
on which representations are commonly obtained
4.10 Discussing form and content of written representation
4.11 Explaining form, content and various types of written representations
4.12 Discussing auditor’s course of action if management refuses to provide requested
written representation and when there is doubt as to the reliability of written
representation provided by management
Unit-V: Consideration of Related Parties (ISA 550)
5.1 Using work of internal auditors and auditor’s experts (ISA 610 and ISA 620)
5.2 Describing term related party using examples
5.3 Discussing how related party transactions can give rise to risk of material
misstatement using examples
5.4 Describing audit procedures including risk assessment procedures, and related
activities to obtain information relevant to identifying related party relationships and
transactions including responses to the assessed risk of material misstatement
5.5 Explaining relationship between external auditor, internal auditor, and auditor’s
experts
5.6 Explaining internal audit function including internal audit activities
5.7 Discussing factors determining independence of internal auditors along with
weaknesses and limitations of internal audit

Page 133 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.8 Discussing how external auditors determine whether ad to what extent they use work
of internal audit
5.9 Discussing how auditor assesses work of an expert
5.10 Discussing how external auditor uses the work of an auditor’s expert when that work
is used to assist in obtaining sufficient appropriate audit evidence
Unit-VI: Engagement to Review Financial Statements 2400

6.1 Explaining objective of a review engagement of financial statements and how it

differs from an audit
6.2 Stating terms of engagement which may be included in engagement letter
6.3 Explaining assurance and non-assurance engagement with examples
6.4 Describing procedures generally adopted by the petitioner to obtain evidence in
review engagements
6.5 Discussing and explaining reports issues under engagement to review financial
statements

Unit-VII: Professional Ethics –

7.1 Fundamentals principles (Sections 100 to 150 of the code of ethics for Chartered
accountants)
7.2 Exemplifying fundamental principles of professional ethics: integrity, objectivity,
professional competence, due care, confidentiality, professional behavior
7.3 Application of conceptual framework to identify, evaluate and address threats to
compliance with fundamental principles
7.4 Understanding threats and circumstances that cause threats of self-interest,
self-review, advocacy, familiarity, and intimidation
7.5 Discussing safeguards to offset threats to compliance with the fundamental principles
7.6 Discussing concept of ethical conflict resolution
Unit-VIII: Client and Engagement Acceptance

8.1 Explaining advertisement and publicity guidelines for ICAP’s Code of ethics for
obtaining audit work
8.2 Application of conceptual framework to identify, evaluate, and address threats in case
of fees, referral fees, and tendering of audit work
8.3 Explaining matters to be considered and the procedures that an audit firm/
professional account should carry out in the following circumstances: client
Page 134 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

acceptance, engagement acceptance, changes in a professional appointment (including

additional work, mid-term removal and non-reappointment)

5.0 Teaching-Learning Strategies

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks
1. CAF – 09 Audit & Assurance – Study Text by ICAP

Page 135 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Financial Reporting-I

Course Code: BSAT-303 Credit Hours: 03

Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course:

The major source of data for economic decisions made by the stakeholders is the financial
statements. The objective of the course is to create competency of reading and understanding
the financial statements. The jargons and terminology of each discipline has special
connotation and if misunderstood it can lead to faulty decisions if not blunders. Accounting is
no exception. For appropriate analysis proper understanding of different terms used in
financial reporting is of utmost importance. The course traces the historical development of
financial reporting. Once competence of understanding is developed the course deals with the
analysis of financial statements. For proper analysis one needs to determine the quality of
financial statements. The course develops the tools to determine the quality of financial
statements.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Financial Accounting 2
3.0 Course Learning Outcomes:
1. This course relates to basic theory of financial accounting with reference to
international accounting standards.
2. This course enable students to prepare financial statements; and dealing with
inventories, property plant and equipment in accordance with international
accounting standards.
4.0 Course Contents:

Unit-I: Financial Statements

Page 136 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.1 Preparation of statement of financial positions (IAS 1)

1.2 Preparation of statement of comprehensive income (IAS 1)
1.3 Preparation of statement of cash flows (IAS 7)
Unit-II: Accounting for Inventories (IAS 2)
2.1 Application of cost formulas (FIFO/ weighted average cost) on perpetual and periodic
inventory system
2.2 Understanding difference between perpetual and periodic inventory systems
2.3 Understanding and analyzing difference between FIFO and weighted average cost
formulas and use them to estimate cost of inventory
2.4 Learning to account for application of cost formulas (FIFO/ weighted average cost) on
perpetual and periodic inventory system
2.5 Identification of impact of inventory valuation methods on profits
2.6 Cost of inventories (cost of purchase, cost of conversion, other costs)
2.7 Calculating cost of inventory in accordance with IAS-2 using data provided including
cost of purchase, cost of conversion, and other costs
2.8 Identification of relevant and irrelevant cost from data provided
Unit-III: Inventory Reporting
3.1 Measurement of inventories (lower of cost or net realized value)
3.2 Presentation of inventories in financial statements
3.3 Understanding net realizable cost and relating to situation where cost of inventories
may not be recoverable
3.4 Demonstrating steps in measurement of inventory at lower of cost or NRV
3.5 Posting journal entries for adjustment in carrying value (excluding reversal of write
downs)
3.6 Understanding disclosure requirements and preparation of extracts of necessary
disclosure (excluding pledged inventories and reversal write downs)
Unit-IV: Property, Plant and Equipment (IAS-16)
4.1 Initial and subsequent measurement of property, plant and equipment (components of
cost, exchange of assets)
4.2 Learning to use IAS – 16
4.3 Calculating cost of initial recognition of property, plant and equipment in accordance
with IAS-16 including different treatment elements of cost and the measurement of
cost

Page 137 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.4 Analyzing subsequent expenditures that may be capitalized, and distinguishing

between capital and revenue items
Unit-V: Measurement after Recognition of Property, Plant and Equipment
5.1 Depreciation – depreciable amount, depreciation period, and depreciation method
5.2 Presenting property, plant, and equipment after recognition under cost model and
revaluation model using data and information provided
5.3 Understanding depreciation, depreciable amount and depreciation period
5.4 Calculating depreciation using straight line method, diminishing balance method, and
the units of production methods
5.5 Computing depreciation for assets carried under the cost and revaluation models using
information provided
5.6 Preparation of journal entries and ledge accounts
Unit-VI: De recognition
6.1 Learning to account for de-recognition of property, plant, and equipment recognized
earlier under cost and revaluation methods
6.2 Posting journal entries to account for de-recognition using data provided
Unit-VII: IFRS 15 Revenue From Contracts with Customers
7.1 Describing revenue and applying principle of substance over form to the recognition of
revenue
7.2 Demonstrating accounting treatment (measurement and recognition) for revenue arising
from: sale of goods and rendering of services
Unit-VIII: Preparation of Separate and Consolidated Financial Statements Involving
Single Subsidiary
8.1 Preparation of Separate and Consolidated Financial Statements Involving Single
Subsidiary in line with the requirements of the Companies Act 2017 and Financial
Reporting Standards (IAS 1 & 7 and others included in syllabus) excluding liquidations,
reconstructions and mergers
8.2 Identifying laws, regulations reporting standards and other requirements applicable to
statutory financial statements of a limited company
8.3 Preparing and presenting following in accordance with disclosure requirements of IAS 1,
Companies Act 2017, fourth/ fifth schedule: Statement of financial position, statement of
comprehensive income, statement of changes in equity, notes to the financial statements
8.4 Preparing statement of cash flows in accordance with the requirements of IAS-7.
Unit-IX: Elimination of Investment in Subsidiary and Parent’s Equity
Page 138 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.1 Describing the concept of a group as a single economic unit, and other terms like
subsidiary, parent, and control
9.2 Describing situations where control is presumed to exist
9.3 Identifying circumstances where an entity is required to prepare and present consolidated
financial statements
9.4 Eliminating (by posting journal entries) the carrying amount of the parent’s investment in
subsidiary and recognize the difference between the two balances as either goodwill or
gain from bargain purchase
Unit-X: Identification of Non-controlling Interest
10.1Describing non-controlling interest in the case of a partially owned subsidiary
10.2Identifying non-controlling interest in the following: net assets of a consolidated
subsidiary, and profit or loss of the consolidated profit or loss of the consolidated
subsidiary for the reporting period
Unit-XI:
11.1Profit and loss from intra-company transactions relating to assets and inventories without
tax implications
11.2Posting adjusting entries to eliminate the effects of intergroup sale of inventory and
depreciable assets
Unit-XII: Preparation of Consolidated Statements of Financial Position
12.1Preparation and presenting simple consolidated statements of financial position involving
a single subsidiary in accordance with IFRS 10
Unit-XIII: Preparation of Consolidated Statements of Comprehensive Income
13.1Preparation and presenting simple consolidated statements of comprehensive income
involving a single subsidiary in accordance with IFRS 10
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %

Page 139 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Quizzes and Tests,

Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF – 5 Financial Accounting and Reporting I – Study Text by ICAP
2. CAF – 7 Financial Accounting and Reporting II – Study Text by ICAP

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Management Accounting

Course Code: BSAT-304 Credit Hours: 03

Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course:

Students develop the ability to collect, analyze, and communicate quantitative and
non-quantitative information to assist management in making more effective planning and
control decisions. Topics include the changing role of management accounting and basic
concepts; product costing and cost accumulation; process costing and hybrid product costing
systems; activity-based costing and activity-based management; activity analysis, cost
behaviour and cost estimation; cost-volume profit analysis; absorption and variable costing;
profit planning and activity-based budgets; standard costing and flexible budgeting; cost
management tools; and decision making.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Advance Cost Accounting
3.0 Course Learning Outcomes:
1. This course provides advance understand of cost accounting.
2. Focus of this course is to enable students to understand budgets, process of
budgeting and decision making in cost accounting.
4.0 Course Contents:

Unit-I: Planning, Forecasting and Budgeting of Sales, Costs and Profits

1.1 Understanding budgeting and forecasting process, its purpose, and its relevance to
overall planning and control functions

Page 140 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.2 Learning various stages in budgeting process

1.3 Learning to prepare forecasts using give data and making assumptions using
qualitative and quantitative methods including times series models, moving averages
and linear regression analysis Unit-II
Unit-II: Preparation of Budgets
2.1 Learning to prepare fixed and flexible budgets, performance budgets, sales budget,
production budget, direct material budget, direct labor budget, manufacturing
overhead budget, inventory budget, cost of goods sold budget, selling and
administrative expenses
2.2 budget with inflation aspects, master/ cash budget, zero based budget, and capital
expenditure budget
Unit-III: Different Approaches to Budgeting
3.1 Learning to use different approaches to budgeting: flexible and fixed budgeting,
incremental budgeting, zero based budgeting, continuous (rolling) budgeting and
performance budgeting
3.2 Describing human and motivational aspects of budgets and budgeting process for
non-profit organization
Unit-IV: Relevant Costing
4.1 Understanding relevance costing and its relevance to decision making
4.2 Calculating relevant cost in a given situation
Unit-V: Breakeven Analysis
5.1 Understanding value and application of break-even analysis and margin of safety
5.2 Learning to calculate break even point both in amount and units
5.3 Applying cost volume profit (CPV) analysis and explaining its usefulness
Unit-VI: Make vs. Buy Decision
6.1 Applying marginal and relevant costing to learn make or buy decision
6.2 Analyzing make or buy options in case of capacity constraints
6.3 Understanding qualitative considerations in make or buy decision.
Unit-VII: Pricing for Special Orders
7.1 Further processing decisions
7.2 Performing incremental cost benefit analysis for a special order and for further
processing cost.
Unit-VIII: Using NPV and IRR

Page 141 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

8.1 Understanding time value of money

8.2 Calculating relevant cash flows for investment projects
8.3 Using Net Present Value (NPV) and Internal Rate of Return (IRR) to evaluate cash
flows
8.4 Discussing pros and cons of NPV, IRR
Unit-IX: Balanced Scorecard
9.1 Understanding contemporary view on performance
9.2 Learning to use balanced scorecard and its value for modern organizations
9.3 Building a balanced scorecard for organization
Unit-X: An introduction to sustainability reporting
10.1Understanding different phases of reporting
10.2Understanding concept of sustainability reporting, and integrated reporting
10.3Identification of users of sustainability reporting
10.4Understanding value and benefits of sustainability reporting and its application
10.5Explaining IFAC framework of sustainability reporting
10.6Understanding key themes and key considerations of sustainability reporting
(Business Strategy perspective, operational perspective, and reporting perspective)

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. CAF – 8 Cost and Management Accounting – Study Text by ICAP
2. Garrison, R. H., Noreen, E. W., Brewer, P. C., & Mardini, R. U. (2003).
Managerial accounting. New York: McGraw-Hill/Irwin.
Page 142 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9. Suggested Readings:
9.1 Books
Drury, C. (2018). Cost and management accounting. Cengage Learning.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Public Finance

Course Code: BSAT-305 Credit Hours: 03
Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course:

This course is designed to learn about public finance. The course will equip the students
about Public/Govt. collection and spending, public revenue and taxation, theory of public
finance. The students will be benefited by knowing about tax structure of Pakistan, public
expenditure and budget, development finance, public debt etc.
2.0 Pre-Requisites Course or Other Requirements/Skills:
1. Principles of Economics
2. Accounting Business and Society
3. Income Tax
3.0 Course Learning Outcomes:
1. The students should be able to know about complete picture of public finance.
2. The students would learn about public expenditure
3. The students would learn about public revenue, public debt/loan.
4.0 Course Contents:

Unit-I: Introduction & Role of Public Sector

1.1 The Economic Functions and Public Goods
1.1.1 Allocation of Resources,
1.1.2 Redistribution of Income and Wealth and Stabilization.
1.1.3 Pricing Public Goods.
Unit-II: Theory of Public Finance

Page 143 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.1 Fiscal Principles and Concepts

2.2 Exhaustive Vs. Non-Exhaustive Public Expenditures
2.3 Income Elasticity of Government Expenditures
2.4 Tax Vs. Non-tax Revenues
2.5 Microeconomic Vs. Macroeconomic Regulatory Taxes
2.6 Tax Base & Tax Rate Relationship;
2.7 Progressive & Regressive and Proportional Taxes
2.8 Marginal Propensity to Tax and Marginal vs. Average Tax Rates
2.9 Income Elasticity of Tax Integral Fiscal Non-Neutrality
2.10 Tax Efforts and Tax Collection Performance in Pakistan
Unit-III: Public Revenue and Taxes
3.1 The Economic Case for the Public Sector to Allocate Resources:
3.1.1 Market Imperfections
3.1.2 Decreasing Costs of Production
3.1.3 Public Goods and Externalities
3.1.4 Pricing Decreasing Cost Industry
Unit- IV: The Theory of Public Goods
4.1 Public and Private Goods
4.2 Pure Public Goods
4.3 Should Public Sector be Produced Vs. Private Goods?
4.4 Semi Public Goods, Merit Goods
4.5 Free Rider Problem
4.6 Externalities and Public Policy
Unit-V: Distributional Equity in Taxation
5.1 The Ability to pay and Economic benefits (received)
5.2 Cannons of Taxation
5.3 The Optional Income Tax Approach
5.4 Optimum Tax and Revenue Collection
Unit-VI: Tax Structure & Performance of Pakistan
6.1 Various Kinds of Taxes and their Objectives
6.2 Income and Sales Taxes,
6.3 Excise and Custom Duties, Export and Import Taxes,
6.4 Tax Reforms in Pakistan and their Impacts
Unit-VII: Fiscal Policy, Public Expenditure and Budget
Page 144 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.1 Theories of Public Expenditures

7.2 Wagner’s Law
7.3 Efforts of Public Expenditures
7.4 Components of Public Expenditures in Pakistan
7.5 Sources and Direction of the Growth of Public Expenditures
7.6 Kinds of Budget, Surplus, Deficit and Balanced
7.7 Preparation of Budget Cycle in Pakistan
7.8 Development and Non-Development Budget and its Patterns
7.9 Zero Based Budget
7.10 Planning & Programming Budgeting System
Unit-VIII: Inter-Government Fiscal Relations
8.1 Fiscal and Economic Aspects of Federalism
8.2 Federal – Provincial Fiscal Co-ordination
8.3 Collection of Revenue and Provincial Share and its Distribution Criteria
8.4 Deficit Financing and its Impact
Unit-IX: Development Finance
9.1 Fiscal Policy in a Developing Economy
9.2 Tax Structure of LDCs
9.3 Role of Deficit Financing
9.4 Fiscal Policy in Pakistan and its Impact
Unit-X: Public Debt
10.1 Need and Burden of Public Debt: Domestic and Foreign
10.2 Debt Modeling and Forecasting Debt Needs
10.3 Optional Debt. Debt Modeling and Offer Curve
10.4 Problem of Debt Servicing
10.5 Structure of Public Debt in Pakistan: Internal and External Debt Problem of Pakistan
10.6 Ricardian View of Public Debt
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester

7.0 Assessment and Examinations:

Page 145 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Harvey S. Rosen (2002), Public Finance. McGraw-Hill, Boston.
2. Musgrave, R. A. (1973). Public finance in theory and practice. McGraw-Hill
Kogakusa.

Page 146 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Sales and Excise Taxation

Course Code: BSAT-306 Credit Hours: 3
Program: BS Accounting and Taxation Semester: V

1.0 Introduction of the Course:

This is the next course in the series of taxation courses of this degree. First part is
designed to know about rules and regulations regarding the concepts/terms/definitions
of Sales Tax Act 1990. Rules regarding Sales Tax registration, Sales tax returns,
output tax and input tax adjustments and practical demonstrations regarding
calculation of sales tax liability are also the strengths of this course. Second part is
about rules regarding the excise duty, its imposition and objectives. This course may
help the students who want to work as tax consultant/tax manager/officer or may
become tax practitioners as their professional career.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1. Income tax-I
2. Income tax-II
3. Public Finance
3.0 Course Learning Outcomes:
1. The students would be able to understand the sales tax registration, sales tax returns
and practical demonstration of sales tax calculations.
2. The students would be able to learn about filing of sales tax return.
3. The students should be able to about excise taxation rules and practice.
4.0 Course Contents:

Unit-I
1.1 Sales Tax Act 1990
Page 147 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.1.1 History of Sales Tax Act, Scope of Sales Tax Laws, Components of Sales Tax
Laws.
Unit-II
2.1 Definitions of Terms (Section2)
2.1.1 Importance of understanding definitions of Sales Tax Laws.
2.1.2 All the definitions given under section 2 of sales Tax Act 1990 (updated).
Unit-III
3.1 Registration
3.1.1 Understanding the term registration under the Sales Tax Act 1990, Requirement of
Registration, Applicability of Rules, Application for Registration, Attachments to
the Application.
3.1.2 Types of Registrations, Temporary Registration, Compulsory Registration,
Change in the Particulars of Registration, Transfer of Registration, De
Registration, Black Listing and Suspension of Registration
Unit-IV
4.1 Furnishing of Sales Tax Returns
4.1.1 Understanding, Features types and Scope of Sales Tax Returns under Sales tax
Act 1990.
Unit-V
5.1 Offences and Penalties
5.1.1 Offences, penalties, fines and allied matters, appointment of Special Judges for
Trial of Offences, Trial of Offences by Special Judge, Appeal against the Order of
Special Judge, Power to Arrest and Prosecute, Powers to Summon Persons to
Give Evidence and Produce Documents in inquiries, Officers Required to Assist
Officers of Inland Revenue
Unit-VI
6.1 Appeals
6.1.1 Powers of the Board, Commissioner to Call for Records, Appeals to
Commissioner, Appeals to Appellate Tribunal, Features of Appeal to the
Appellate Tribunal, References to High Court, Alternative Dispute Resolution
Unit-VII
7.1 Illustrations and Practical Problems and Sales Tax Returns
7.1.1 Illustrations, Practical Problems and Practical Filing of Returns.

Page 148 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.1.2 Practical demonstration of filing of returns.

Unit-VIII
8.1 Federal Excise Duty, Concepts and Definitions
8.1.1 History of excise taxation, Federal Excise Act 2005.
8.1.2 Definitions under Section 2
Unit-IX
9.1 Collection and Payment of Duty
9.1.1 Levy and collection of excise duty
9.1.2 Filing of return and payment of duty.
9.1.3 Illustrations, Practical Problems and Practical Filing of Returns
Unit-X
10.1 Offences and Penalties
10.1.1 Offences, penalties and allied matters
10.1.2 Searches, arreests and siezures
6.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

7.0 Assignments

7.1.1 Assignment regarding applicability of sales tax rules/return will be given after
midterm examination.
7.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

8.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Written Paper Written Paper
Assignment and

Page 149 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Presentations, Attendance,
Class Participations and
Discipline etc.

8.0 Textbooks: (Latest Editions)

4. Muhammad Muazzam Mughal, Income Tax: Principles and Practice, Syed
Mobin Mahmud & Co, Lahore.
5. Muhammad Muazzam Mughal, Sales Tax, Syed Mobin Mahmud & Co.
Lahore.
6. CAF-06 Principles of Taxation by ICAP.
7. Mirza Munawar Hussain, Synopsis of Taxes in Pakistan, IBP Publications.

9.0 Suggested Readings:

9.1 Books
1. Govt. of Pakistan, Income Tax Ordinance 2001, Sales Tax Act 1990 and
relevant laws.
2. R.I. Naqvi, Income Tax Law. Taxation House, Lahore.
3. Khawaja Amjad Saeed, Income Tax Law with Practical Problems,
Accountancy and Taxation Services Institute, Lahore.
4. Luqman Baig, Income Tax Law, Ghazanfar Academy, Karachi.

9.2 Journal Articles/ Reports

⮚ www.fbr.gov.pk

Page 150 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 151 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 152 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 153 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-VI

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Organizational Behaviour and Human Resource Management

Course Code: BSAT-311 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VI

1.0 Introduction of the Course

2.0 Pre-Requisites Course or Other Requirements/Skills:

Page 154 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.0 Course Learning Outcomes:

After completion of the course a student should have:
1. Good understanding of the conventional and contemporary beliefs about value of
human resource for organization
2. Ways of identifying the determinants of human behaviors
3. Ability to develop a system that improves people performance
5.0 Course Contents:

Unit-I: Basics of People Management (OB & HRM)

1.1 Types of organizational resources, value of human resource, behavioral and managerial
perspectives of human resource (OB & HRM integrated model)
Unit-2: Behavioral Perspective of Human Management – Values
2.1 Human values and value system, role of value in human behaviors, types of values,
value distribution across cultures
Unit-3: Behavioral Perspective of Human Management – Personality
3.1 Concept of personality, contents of personality, personality assessment measures
Unit-4: Behavioral Perspective of Human Management – Perceptions
4.1 Concept of perception, perception determinants, ways of perceiving others, perceptual
biases, affective event theory
Unit-5: Behavioral Perspective of Human Management – Attitudes & Behaviors
5.1 Concepts of attitude & behavior; differences between attitudes and behavior;
determinants of A & B; Emotions & moods
5.2 Various types of emotions; emotions and behaviors; emotional intelligence
Unit-6: Behavioral Perspective of Human Management – Power & Politics
6.1 Concept of power; sources of power; influence of power; concept of politics; political
behaviors; political skills
Unit-7: Behavioral Perspective of Human Management – Motivation
7.1 Motivation concept; determinants of motivation; need & process theories of motivation
Unit-8: Managerial Perspective of Human Management – HR Planning & Forecasting
8.1 Concept of HR planning & forecasting; strategic nature of HRM; organizational goals
and HR goals; role of HR department; functions of HR manager; job analysis; contents
of job analysis
Unit-9: Managerial Perspective of Human Management – Recruitment & Selection

Page 155 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.1 Concept of recruitment & selection; internal & external sources of recruitment; selection
process; types of selection tools (tests & interviews); conditional and final job offer
Unit-10: Managerial Perspective of Human Management – Orientation, Training &
Development
10.1 Concept of socialization & orientation; need for socialization; training need assessment;
ways of training; training evaluation
Unit-11: Managerial Perspective of Human Management – Performance Evaluation
11.1 Concept of performance evaluation; ways of performance evaluation; efficacy of
performance evaluation system
Unit-12: Managerial Perspective of Human Management – Compensation Management
12.1 Concept of compensation management; types of compensation; compensation and
motivation
Unit-13: Managerial Perspective of Human Management – Employee Relations
13.1Concept of employee relations; unionization and collective bargaining; various types of
unions; conflict handling
Unit-14: Managerial Perspective of Human Management – Health & Safety
14.1 Concept of health & safety; health & safety issues; health & safety laws
5.0 Teaching-Learning Strategies

The course would/could be both lecture and field work based

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. DeCenzo, D. A., Robbins, S. P., & Verhulst, S. L. (2016). Fundamentals of human
resource management. John Wiley & Sons.

Page 156 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2. Gary, D. (2010). Fundamentals of Human Resource Management: Content,

Competencies and Applications.
9. Books:
● Drucker, P. F. (1995). People and performance: The best of Peter Drucker on
management. Routledge.
● Drucker, Peter Ferdinand. Management challenges for the 21st century. Routledge,
2007.
9.1 Suggested Readings

⮚ Journal of Organizational Behavior

⮚ Journal of Management

⮚ Academy of Management Journal

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Financial Reporting-II

Course Code: BSAT-312 Credit Hours: 03

Program: BS Accounting and Taxation Semester: VI

Page 157 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.0 Introduction of the Course:

The major source of data for economic decisions made by the stakeholders is the financial
statements. The objective of the course is to create competency of reading and understanding
the financial statements. The jargons and terminology of each discipline has special
connotation and if misunderstood it can lead to faulty decisions if not blunders. Accounting is
no exception. For appropriate analysis proper understanding of different terms used in
financial reporting is of utmost importance. The course traces the historical development of
financial reporting. Once competence of understanding is developed the course deals with the
analysis of financial statements. For proper analysis one needs to determine the quality of
financial statements. The course develops the tools to determine the quality of financial
statements.
2.0 Pre-Requisites Course or Other Requirements/Skills:
Financial Reporting I
3.0 Course Learning Outcomes:
1. Basic objective of this course is to broaden knowledge base of students with
regard to IFRS.
2. This course relates to accounting for tangible and intangible assets,
impairments, lease and borrowing costs; provisions for contingencies; and
ethics.
4.0 Course Contents:

Unit-I: Accounting for Tangible and Intangible Assets

1.1 Recognition, de-recognition, measurement, depreciation/ amortization, and
measurement after recognition of non-current assets (IAS 16 and IAS 38)
1.2 Explaining and applying accounting treatment of property, plant and equipment, and
intangible assets
1.3 Formulating accounting policies in respect of property, plant and equipment, and
intangible assets
Unit-II: IFRS 16
2.1 Describing the method of determining a lease type: operating or financial lease
2.2 Preparing journal entries and presenting extracts of financial statements in respect of
lease accounting, lessor accounting, and sale and lease back arrangements, after
making necessary calculations
2.3 Formulating accounting policies in respect of different lease transactions
Page 158 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.4 Analyzing effect of different leasing transactions on the presentation of financial

statements
Unit-III: Recognition of Borrowing Costs (IAS 23)
3.1 Describing borrowing cost and qualifying assets using examples
3.2 Learning to identify and account for borrowing costs in accordance with IAS 23
3.3 Disclosing borrowing costs in financial statements
3.4 Formulating accounting policies in respect to borrowing cost
Unit-IV: Impairment of Assets
4.1 Identifying and assessing circumstances where assets may be impaired
4.2 Learning to measure recoverable amount
4.3 Identification of cash generating unit and assessing its recoverable amount, including
its components
4.4 Learning to account for related impairment expenses (excluding accounting for
reversal impairment)
Unit-V: Provisions, Contingent Liabilities and Contingent Assets

5.1 Defining liability, provision, contingent liability and contingent assets and learning
their accounting treatment
5.2 Distinguishing between provisions, contingent liabilities, and contingent assets
5.3 Understanding recognition and de-recognition criteria for provisions
5.4 Calculating/ measuring provisions such as warranties/ guarantees, restructuring,
onerous contracts, environmental and similar provisions, previsions for future repairs
or refurbishments
5.5 Learning to account for changes in provisions
5.6 Understanding disclosure requirements of provisions
Unit-VI: Accounting Policies, Changes in Accounting Estimates and Errors (IAS -8)

6.1 Defining accounting policies, accounting estimates, and prior period errors
6.2 Learning to account for effect of change in accounting estimates and policies in
financial statements
6.3 Understanding and analyzing using examples, IFRS guidance on accounting policies,
change in accounting policies and disclosure
6.4 Understanding and analyzing using examples, IFRS guidance on accounting
estimates, changes in accounting estimates and disclosure

Page 159 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.5 Understand and analyze using examples, IFRS guidance on errors, correction of errors
and disclosure
Unit-VII: Events Occurring after the Reporting Period (IAS – 10)

7.1 Assessing and learning to account for adjusting and non-adjusting events after the
reporting period
7.2 Determining items that require separate disclosure, including their accounting
treatment and required disclosures
7.3 Understanding and analyzing using examples, going concern issues arising after the
end of the reporting period
Unit-VIII: Taxation: Current Year, Prior Years, and Deferred (IAS-12)
7.11 Current Year, Prior Years, and Deferred (IAS-12) excluding deferred
consequences of following transactions: business combination (including goodwill),
assets carried at fair value, un-used tax losses and credits
7.12 Re-assessment of un-recognized deferred tax assets, investments in subsidiaries,
branches, associates and interest in joint ventures, items recognized outside profit and
loss account, share based payment
7.13 Defining temporary differences, and identification of temporary differences that
cause deferred tax liabilities, deferred tax assets
7.14 Determining amounts to be recognized in respect of temporary differences
7.15 Preparing and presenting deferred tax calculations using balance sheet approach
7.16 Learning to account for major components of tax expense/ income and its
relationship with accounting profit
7.17 Formulating accounting policies in respect of deferred tax
7.18 Applying disclosure requirements of IAS 12.
Unit-IX: Earnings Per Share (IAS 13)

8.3 Calculating basic EPS in accordance with IAS 33 bonus and right issue
8.4 Explaining the purpose and relevance of calculating basic EPS
Unit-X: Ethics
10.1Ethics – Fundamental principles (Section 100 to 150 of the code of Ethics for
Chartered Accountants)
10.2Describing fundamental principles of professional ethics of integrity, objectivity,
professional competence and due care, confidentiality, and professional behavior

Page 160 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

10.3Applying conceptual framework to identify, evaluate, and address threats to

compliance with fundamental principles
10.4An understanding of ethics relating to preparation and reporting of financial
information (Section 320 of Code of Ethics for Chartered Accounts) -
10.5Explaining ethical responsibilities of a Chartered Accountant in preparation and
reporting of financial information using simple examples

5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
CAF – 7 Financial Accounting and Reporting II – Study Text by ICAP

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Corporate Finance

Course Code: BSAT-313 Credit Hours: 3
Program: BS Accounting and Taxation Semester: VI

1.0 Introduction of the Course:

Page 161 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

This is a Finance specialization course. After studying this course, the students would be
able to develop understanding of long-term investment decisions, Role of capital
budgeting techniques in making investment decisions. financial decisions and calculating
cost of capital, valuation of long-term assets, dividends policy and firms leverage
decisions. This course will also provide the students to learn lease vs purchase decisions
in a business firm. The students would also be get benefited to know about the mergers
and acquisition decision and its impact on firm value.

2.0 Pre-Requisites Course or Other Requirements/Skills:

Financial Accounting and Financial Management
3.0 Course Learning Outcomes:
1. This course will provide the students to learn about lease vs purchase decisions in a
business firm.
2. The students would be able to know the mergers and acquisition decision and its
impact on firm value and to know about dividend policy decisions in a business firm.
3. The students would be able to learn about leverage and its impact on return and risk
and to learn about working capital concept and its computation
4.0 Course Contents:

Unit-I
1.1 Introduction to Corporate Finance
1.1.1 Introduction of corporate finance and major decision areas of corporate finance.
Unit-II
2.1 Capital Budgeting Decisions in a Business Firm
2.1.1 Concept, importance and basic terminology, independent and mutually exclusive
projects.
2.1.2 Relevant cash flows in capital budgeting- identification of initial investment,
operating cash flows and terminal cash flows of the projects.
2.1.3 Importance of taking marginal cash flows, sunk cost and opportunity cost
treatment in capital budgeting decisions, treatment of financing cost.
2.1.4 Project’s evaluation/appraisal techniques (non-discounted methods and discounted
methods) and decision making- calculation of payback period and accounting rate
of return.

Page 162 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.1.5 Net present value (NPV), profitability index (PI), and internal rate of return (IRR)
Practical decision in a business firm based on these techniques.
Unit-III
3.1 Valuation of Financial Assets-Bonds
3.1.4 Valuation of financial assets (long term securities)-bonds/debentures.
3.1.5 Valuation fundamentals, bonds and bond indenture, value of zero coupon and
non-zero coupon bonds, relationship between required return, coupon rate and
maturity period with value of bonds.
3.1.6 Yield to maturity concept and its calculation.
Unit-IV
4.1 Valuation of Financial Assets-Stocks/Shares
4.1.1 Preferred stock and common stock valuation models, concept and importance.
4.1.2 Dividend discounted model for valuation. Zero growth, constant growth, and
variables growth models for valuation.
4.1.3 Free cash flows model, and other approaches to valuation of common stocks.
4.1.4 Yield on preferred and on common stock.

Unit-V
5.1 Making Financing Decisions in a Business Firm
5.1.1 Cost of capital, concept, calculating cost of individual source of capital, cost of
long-term debt, preferred stock, and common stock.
5.1.2 Weighted average cost of capital (WACC), use of CAMP in calculating cost of
common stock, Weighting schemes, book value weights vs market value
weights, target weights.
5.1.3 Comparing WACC with investment opportunity schedule and decision making.
Unit-VI
6.1 Mergers and Acquisitions

6.1.1 Merger fundamentals: including objectives, terminology, procedures, motives

for merging, and types of mergers.
6.1.2 Procedures used to value the target company, and discuss the effect of stock
swap transactions on earnings per share.
6.1.3 Merger negotiation process and analysis from the perspective of holding and
subsidiary companies

Page 163 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-VII
7.1 Corporate Leverage Decisions
7.1.1 Definition of leverage, Sources of capital, Definition of capital structure and
optimal capital structure.
7.1.2 Operating, financial, and total leverage and the relationships among them
7.1.3 Breakeven analysis and implication of operating breakeven point and financial
breakeven point in leverage decisions.
7.1.4 Effect of changing business volume, per unit sale price, per unit variable cost
and fixed operating cost on operating breakeven point and degree of operating
leverage.
7.1.5 Effect of changing capital structure on financial leverage and total leverage.
7.1.6 EBIT–EPS approach and capital structure analysis. Effect of alternative capital
structure on return and risk, their linkage to market value, and other important
considerations related to capital structure.
Unit-VIII
8.1 Dividend Policy

8.1.1 Introduction to payout policy. Cash pay-out procedures, and the role of
dividend reinvestment plans.
8.1.2 Residual theory of dividends and the key arguments with regard to dividend
irrelevance and relevance.
8.1.3 Key factors involved in establishing a dividend policy and three basic types of
dividend policies.
8.1.4 Evaluation of cash v/s stock dividend option from the shareholders, and
company points of view.
8.1.5 Decisions regarding stock splits, reverse stock split and repurchase of stock
and their motives.
Unit-IX

9.1 Leasing Decision in a Business Firm

9.1.1 Definition of lease contact, its essential elements, types of leases, advantages
and disadvantages of leasing contract.
9.1.2 Steps for making analysis of leasing v/s buy option from the prospective of
lessee.

Page 164 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

9.1.3 Steps for making analysis of leasing decisions such as lease rent and target
IRR from the prospective of lessor. Importance of taking marginal cash flows,
sunk cost and opportunity cost treatment in capital budgeting decisions,
treatment of financing cost.
5.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

6.0 Assignments

6.1.1 Capital budgeting projects will be assigned to students after midterm examination.
6.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0Textbooks
1. Gitman, L. J., Juchau, R., & Flanagan, J. (2015). Principles of managerial finance.
Pearson Higher Education AU.
2. Van Horne, J. C., & Wachowicz, J. M. (2005). Fundamentals of financial
management. Pearson Education.
9. Suggested Readings
9.1 Books

Page 165 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1. Hillier, D., Clacher, I., Ross, S., Westerfield, R., & Jordan, B. (2014).
Fundamentals of corporate finance.
2. Keown, A. J., Scott, D. F., Martin, J. D., Martin, J. H., & Petty, J. W. (2020).
Basic financial management. Prentice Hall.
3. Morrison, A., & Macmillan, A. (2007). Financial fundamentals. In Franchising
hospitality services (pp. 132-160). Routledge.
4. Brigham, E. F., & Ehrhardt, M. C. (2013). Financial Management: Theory &
Practice (Book Only). Cengage Learning.
9.2 Journal Articles/ Reports

⮚ The Economist

⮚ Charted Financial Analyst Journal

⮚ The Financial Times

⮚ Business Recorder

⮚ The Financial Daily

Page 166 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: ERP-I

Course Code: BSAT- 314 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VI

1.0 Introduction of the Course :

The basic objective of this course is to familiarize student with ERP like computerized
accounting, financial software’s, its functions, operations and reporting. This course enables a
student to understand accounting functioning in a modern world through ERP. This course
also builds foundations for management reporting with new technologies as per market
requirement for finance professionals.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1. Introduction to Information Technology

2. Advanced Financial Accounting
3. Management Accounting
3.0 Course Learning Outcomes:
1. Developing basic understanding of ERP
2. Learning to use SAP Business One
3. Learning to use financial and sales module of SAP Business One
4.0 Course Contents:

Unit-I: ERP – Overview

1.1 ERP: Overview, scope, and applications
1.2 Different ERPs and their functions
1.3 SAP Business Suite
Unit-II: SAP ERP Implementation
2.1 Traditional techniques of ERP implementation
2.2 Modern techniques of ERP implementation
Unit-III: SAP Business One – Merits

Page 167 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

3.1 SAP ERP for Organizations – Usability and benefits

3.2 SAP ERP for User and Management – Usability and benefits
Unit-IV: Administration Control
4.1 Navigation (Logon)
4.2 System Administration Overview
4.3 Importing data from Excel
4.4 Importing data from SAP Business One
4.5 Exporting data to SAP Business One
4.6 SAP utilities (Period Closing)
Unit-V: Financial Module
5.1 Master data chart of account
5.2 Assets master data (overview)
5.3 Supplier master data
5.4 Customer master data
5.5 Journal entries – Passing journal of entries
5.6 Journal setup and transactions
5.7 Accounts codes generator
5.8 Running reports
5.9 Budget setup and budget distribution methods
5.10 Basic Tax setup & Tax Reports
Unit-VI: Sales/ AR Module
6.1 Sales order generation
6.1.1 Sales quotation
6.1.2 Sales order
6.1.3 Delivery and return
6.2 AR Receipt Generation and Payment Process
6.2.1 AR Down Payment request
6.2.2 AR Down Payment Invoice
6.2.3 AR invoice, Payment and other types on invoices
6.2.4 AR Credit Memo
6.2.5 Sales Reports all
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

Page 168 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
Padhi, S. N. (2009). SAP® ERP financials and FICO handbook. Jones & Bartlett

Learning.

Page 169 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Customs Law

Course Code: BSAT-315 Credit Hours: 03
Program: BS – Accounting and Taxation Semester: VI

1.0 Introduction of the Course:

This course is designed to provide people with the basic skills required to calculate the
amount of customs duty. Familiarity with Customs Laws is very much essential for BS
accounting and Taxation graduates. This course will help the students to know about customs
basics, terminology used and functions of Pakistan customs. The students will also learn
about Customs Act 1969 and Customs rules 2001. It equips the students with tariff and
customs code and relevant rules and regulations and jurisprudence as well as contemporary
issues. It will discuss its constitutional basis, the general concepts, legal remedies, and related
procedures.
2.0 Pre-Requisites Course or Other Requirements/Skills:
No specific prerequisites are required for this course
3.0 Course Learning Outcomes:

1. Demonstrate an understanding of customs legislation and regulation

2. Know how to find legal provisions relating to different aspects of international trade
3. Explain how key aspects of customs law apply to practical situations relating to
cross-border trade
4. Identify the meaning of terminology used in tariff classification
5. Outline the classification structure
6. Demonstrate an understanding of the classification process
7. Identify the process and procedure relating to Binding Tariff Information
8. Outline the legal provisions relating to the origin of goods
9. Differentiate between preferential and non-preferential origin
10. Determine the origin of particular goods

4.0 Course Contents:

Page 170 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-I: Customs Legislation and Regulation

1.1 Identify the way in which customs law is structured
1.2 Distinguish between the different types of customs regulation;
1.3 List the various customs procedures;
1.4 Describe how the customs procedures apply to different aspects of international trade.
this task will be greatly simplified with online working of FBR.
Unit-II: Tariff Classification
2.1 Understand the terminology used in the context of the tariff classification of goods
describe how the Customs Duty is structured
2.2 Explain how to apply the interpretative rules
2.3 Describe the steps required to obtain Binding Tariff information. Understand the tariff
classification structure, including the sections and chapters of Customs Act.
Unit-III: Customs Valuation
3.1 Legal framework regarding customs valuation
3.2 Application of procedures relating to customs valuatio
3.3 Explain the method of calculating the value of goods for customs purposes
3.4 Describe the circumstances in which specific method may or may not be used.
Unit-IV: International Terms of Trade
4.1 Terms used in international trade and its application
4.2 Respective responsibilities of the buyer and seller
4.2 Identify the risks borne by the buyer and seller.
Unit-V: Origin of Goods
5.1 Describe the rules under which the economic nationality of goods are determined
5.2 Explain the methods of determining the origin of goods
5.3 Describe how to obtain Binding Origin Information decisions
5.4 Identify methods of proving the origin of goods for customs purposes.
5.5 Explain the international legislation relating to the origin of goods, including the
WTO Agreement on Rules of Origin. Determine the origin of goods using the
appropriate methodology, including cases where the goods have been produced or
processed in multiple countries
Unit-VI
6.1 Prohibited, licensed and freely importable and exportable products

Unit-VII
7.1 Laws impacting import-export trade and customs department manuals
Page 171 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Unit-VIII
8.1 Customs classification of products and services
Unit-IX
9.1 Duty-free goods and duty-free shops

Unit-X
10.1Import duties: Basic customs duty, Countervailing duty, Special additional duty,
Anti-dumping duty, Safeguards duty
Unit-XI
11.1Export duty and Cess

Unit-XII
12.1Steps for Undertaking Export of Goods

Unit-XIII
13.1Steps for Undertaking Import of Goods

Unit-XIV
14.1 Punishment for customs violations

Unit-XV
15.1Practical Illustration of Customs Duty cases
5.0 Teaching-Learning Strategies:

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks
3. The Customs Act, 1969 (Updated)

Page 172 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4. Customs rules 2001

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Provincial Taxes

Course Code: BSAT-316 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VI

1.0 Introduction of the Course:

This course provides basic understanding of provincial taxation system. It enables the
students to understand the legality, procedure and dynamics of provincial tax.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1. Taxation-I
2. Taxation II
3. Sales and Excise Taxation
3.0 Course Learning Outcomes:
1. Students will be able to understand the taxation system by Provinces.
2. How to register firms and do correspondence with the Provincial taxation department
of government.
3. Understand the calculation and modes of tax liability.
4. Understand the offences and their consequences as per law.

4.0 Course Contents:

Unit-I
1.1 Definitions and Scope of Tax
Unit-II
2.1 Overview and Brief History of Services Sales Tax in Pakistan
Unit-III
3.1 Basic concepts in Sales Tax on Services
Unit-IV
4.1 Taxable Services, Value, Timings and Rates
Unit-V

Page 173 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.1 Registration and De-Registration

Unit-VI
6.1 Determination of Tax Liability
Unit-VII
7.1 Output Tax and Input Tax
Unit-VIII
8.1 Time Manner and Mode of Payment of Tax Liability
Unit-IX
9.1 Returns and Filings.
Unit-X
10.1 Investigations and Audits
Unit-XI
11.1 Refunds and carry forward adjustments.
Unit-XII
12.1 Offences and Penalties
Unit-XIII
13.1 Appeals and Alternative Dispute Resolutions
Unit-XIV
14.1 Inter-Provincial Differences and Disputes and other hot issues
5.0 Teaching-Learning Strategies

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks
5. Punjab Sales Tax on Service Act 2012 (Updated)
Page 174 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6. Punjab Revenue Authority Act 2012

7. Punjab Finance Act 2020

Page 175 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-VII

Page 176 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Forensic Accounting

Course Code: BSAT-401 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VII

1.0 Introduction of the Course:

This course explores the forensic accountant's role in today's economy. Topics covered
include fraud detection and fraud investigation techniques, valuation of closely held
businesses, lost profits analyses, and various types of litigation support services. Fundamental
legal concepts governing expert witness testimony are also examined, and students are
required to quantify economic damages in cases. By the end of the course students are able to
understand both the pervasiveness and the causes of fraud and white-collar crime in our
society, examine the types of fraud and fraud schemes that affect business enterprises, explore
methods of fraud detection and prevention, and increase their ability to recognize potential
fraudulent situations

2.0 Pre-Requisites Courses or Other Requirements/Skills:

Page 177 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1 Financial Reporting II
2 Auditing II
3 Company Law
4 Cost Accounting II
5 Taxation 2

3.0 Course Learning Outcomes

1. This course provides basic understanding of investigative accounting and fraud

detection.
2. This course enables a student to relate to investigative paradigm of accounting and
using this paradigm to conduct a forensic audit.

4.0 Course Contents:

Unit-I: Introduction to Forensic Accounting

1.1 Understanding basics of forensic accounting, qualities of professional forensic team,
and application of forensic accounting
1.2 Understanding areas of forensic accounting application

Unit-II: Forensic Accounting and Audit

2.1 Understanding difference between financial auditing, fraud auditing, and forensic
accounting
2.2 Nature of forensic accounting and qualities/ skills of forensic accountant
2.3 Understanding nature of financial vs. fraud audit
Unit-III: Fraud: An introduction
3.1 Defining fraud and its legal aspects
3.2 Understanding major categories of fraud and their causes
3.3 Detecting frauds and its methods
Unit-VI: Financial Statement Analysis
4.1 Reviewing financial statement analysis
4.2 Using ratios to analyze financial statements
4.3 Using different tools of financial statement analysis
4.4 Understanding limitations of financial statement analysis
4.5 Understanding advantages of financial statement analysis
4.6 Detecting red flags: Financial statement frauds and methods of detection
Unit-V: Evidence in Forensic Accounting

Page 178 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.1 Understanding role of forensic accountants in creation and utilization of evidence

5.2 Understanding assistance of forensic accountant in different situations
5.3 Understanding importance of digital evidence in forensic accounting
5.4 Learning to use documents in proving cases
5.5 Learning to use arguments to strengthen the case
Unit-VI: Data Mining: Computer Aided Forensic Accounting
6.1 Understanding nature of data mining and its relevance to the forensic accounting
6.2 Understanding audit trails and benefits of computer aided forensic accounting
6.3 Learning about accessibility of data and its scope
6.4 Learning data cleaning and testing date for completeness and accuracy
6.5 Understanding skills and their importance in communication, data analysis
6.6 Learning sorting and using different characteristics/ tags of files
6.7 Learning to present the results
Unit-VII: Working with Attorneys
7.1 Understanding nature of relationship between forensic accountant and attorneys
7.2 Understanding need for confidentiality
7.3 Learning formation of an investigative team Understanding nature of civil litigation
7.4 Learning to collaborate with law enforcement and government agencies
7.5 Disagreements with counsel
Unit-VIII: Working with Forensic Accounting Investigators
8.1 Understanding role of forensic account and its collaboration with various
stakeholders: internal auditor, external auditor, other parties to investigation
Unit-IX: Forensic Accounting Investigations
9.1 Role of forensic account as investigator and traditional role of auditors
9.2 Understanding difference between and auditor and forensic accountant and limitations
of auditing
9.3 Understanding potential trigger points of fraud
Unit-X: Preparing Report of Investigation
10.1 Understanding nature and types of report
10.2 Understanding ACEF reporting standards
10.3 Learning contents and format of investigative report
10.4 Learning common mistakes in report writing
Unit-XI: Other Dimensions of Forensic Accounting

Page 179 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

11.1 Understanding application of forensic accounting on environmental issues,

intellectual property issues, government contracting insurance and business
interruption, shareholder litigation, business valuation, cybercrimes
Unit-XII: Future of Forensic Accounting
12.1 Understanding evolving nature of forensic accounting
12.2 Understanding needs of education and training
12.3 Learning about changing nature of regulations and enforcement
12.4 Understanding nature of change in corporate environment
12.5 Learning other issues in forensic accounting
Unit-XIII
Case Study
Unit-XV
Case Study
5.0 Teaching-Learning Strategies

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks
SP-611 Forensic Accounting: Study Notes by ICPAP

Page 180 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Investment Analysis and Portfolio Management

Course Code: BSAT-402 Credit Hours: 3
Program: BS Accounting and Taxation Semester: VII

1.0 Introduction of the Course:

This course is designed to the field of investment in the field of finance which is a very
important and dominant area of investment finance discipline. The students should be
able to know about the avenues of direct and indirect investment, money market and
capital market securities. After studying this course, the students should be able to
demonstrate a working knowledge of investments decisions relating to vast varieties of
marketable securities such as stocks, bonds, derivatives securities etc. This course would
provide comprehension about stock exchanges, their roles, stock indices, brokers and
brokerage accounts, margin account and its mechanism. The students would also learn
about fundamentals analysis, technical analysis, market efficiency.

Page 181 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.0 Pre-Requisites Course or Other Requirements/Skills:

Money and Banking, Financial management
3.0 Course Learning Outcomes:
1. This course will provide the students to know about the avenues of direct and indirect
investment, money market and capital market securities.
2. The students would be to demonstrate a working knowledge of investments decisions
relating to vast varieties of marketable securities such as stocks, bonds and derivatives
securities.
3. This course would help the students to comprehend about stock exchanges, their roles
and stock indices
4. This course will help the students to know about brokers and brokerage accounts,
margin account and its mechanism.
5. The students would be benefited to learn about fundamentals analysis, technical
analysis and market efficiency
4.0 Course Contents:
Unit-I
1.1 Introduction and understanding investments
1.1.1 Nature of investment, importance of studying investments, reasons of doing
investment.
1.1.2 Investment decision process, source of investing information, ethics in investing.
Unit-II
2.1 Investment alternatives

2.1.6 Direct investment, marketable and non-marketable securities, money market

securities Capital market securities, fixed income securities, equity securities,
derivative securities,
2.1.7 Bonds, bonds characteristics, types of bonds, price quotations in market, bonds
rating. Preferred stock, features and types of preferred stock.
2.1.8 Common stock, features of common stock, categories of common stock, types of
dividends, dividend relevant dates, market ratios for investors.
2.1.9 Derivative securities-options, types of options, importance of option market,
option terminology, trade mechanism of options, option valuation. Calculation of
Payoffs and profits Future contracts, future markets, future contracts and

Page 182 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

mechanics of trading, margin account in future contracts, short position and long
position. Marked to market principal.
Unit-III
3.1 Indirect investing
3.1.1 Investment companies, types of mutual funds, value funds vs growth funds, index
funds, load funds, hedge funds, net asset value of mutual funds.
3.1.2 Mechanics of investing indirectly, investment companies’ performance.
Unit-IV
14.1Securities markets
14.1.1 Importance, structure, and functions of securities markets, primary market of
securities and role of investment bankers, public offering and private placement,
secondary markets.
14.1.2 Pakistan securities markets for trading of equities, international securities markets,
stock exchange terminology, market indexes, its types and its working in Pakistan.
Unit-V
5.1 Brokerage Transactions/How Securities are Traded?
5.1.1 Types of brokers, types of brokerage accounts, how orders work?, Types of orders,
margin account, initial margin and maintenance margin, margin call, methods for
satisfying margin call.
5.1.2 Settlement of accounts, investor protection in the securities markets, regulatory
environment. Insider trading.
Unit-VI
6.1 Returns and risks from investing
6.1.1 Components of return, historical/actual return, total return and return relative,
measuring return, cumulative wealth index, international return and currency
exchange risk, inflation adjusted return, calculating mean return, arithmetic mean
vs geometric mean for measuring average return. Understanding risk, sources of
risk, measurement of risk, variance and standard deviation, equity risk premium.
6.1.2 Return and risk with uncertainty, calculating expected return and risk of a single
asset and of portfolio, modern portfolio theory, diversification, systematic and
non-systematic risk, random diversification, importance of correlation
coefficient/covariance in diversification
Unit-VII
7.1 Fundamental Analysis
Page 183 of 203
 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

7.1.1 Nature of fundamental analysis, Common stocks valuation-dividend discount

model, capital asset pricing model, fixed income securities analysis-valuation of
bonds, bonds yields, bonds prices,
7.1.2 Security analysis-economy/market analysis, sector/industry analysis, company
analysis.
Unit-VIII
8.1 Technical Analysis
8.1.1 Importance of technical analysis, Dow Theory, different types of charts and price
patterns, support level and resistance level, breath indicators, sentiments
indicators.
8.1.2 Comparing fundamental analysis and technical analysis.

Unit-IX
9.1 Market Efficiency
9.1.1 Concept of efficient market, forms of market efficiency, evidence on market
efficiency, efficient market hypothesis,
9.1.2 Market anomalies, behavioral finance.

Unit-X
10.1Portfolio Theory
10.1.1 Portfolio return and risk, measuring portfolio risk and return, portfolio selection,
building portfolio, portfolio management, evaluation of investment performance.

5.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

6.0 Assignments:

Page 184 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.1.1 Investment Project will be assigned to students after midterm examination.

6.1.2 Two quizzes will be taken from midterm course contents and 2 quizzes will be taken
from final term course contents.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests, Assignment
and Presentations, Attendance,
Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
Jones, C. P. (2007). Investments: analysis and management. John Wiley & Sons.
9. Suggested Readings:
9.1 Books
1. Strong, R. A. (2007). Practical investment management.
Thomson/South-Western.
2. Haugen, R. A. (1986). Modern investment theory.
3. Raves, Doughlas A., Investment analysis and management
4. Recommended text of Corporate Finance for CFA students
9.2 Journal Articles/ Reports

⮚ The Economist

⮚ Charted Financial Analyst Journal

⮚ The Financial Times

⮚ Business Recorder

⮚ The Financial Daily

HAILEY COLLEGE OF COMMERCE
UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Professional Development

Course Code: BSAT-403 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VII

1.0 Introduction of the Course:

This course highlights the nature and importance of professional skills and personality
development. It helps learners to analyze their own personality and improve it for their

Page 185 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

professional development. This course is also aimed to highlight the various factors like:
presentation skills, body language, interpersonal skills, sell-esteem, self-efficacy, resilience,
optimism, self-motivation, problem-solving, stress handling, time-management, negotiation
& conflict resolutions, team building and leadership. This course will help students to groom
and be more prepared to operate in competitive professional world.

2.0 Pre-Requisites Courses or Other Requirements/Skills:

1. Functional English
2. Management
3. Marketing
4. Human Resource Management
5. Financial Management
3.0 Course Learning Outcomes:
1. Students will be able to demonstration better personality characteristics, body
language, interpersonal skills. confidence, optimism, resilience, leadership,
conflict handling and time management.
2. Students will be able to show better presentation skills.
3. This course will develop team building and handling capabilities among students.
4. It will enable students to be better equipped for contemporary competitive
professional environment.
4.0 Course Contents:
Unit-I: Self-Analysis
1.1 Identifying personal strengths and weakness, discussion on various attributes of the
personality,
1.2 Personality improvement for creating an ever-lasting impression on others.
Unit-II: Personality Development
2.1 Presentation skills, body language, confidence, manners and etiquettes.
Unit-III: Speaking Skills
3.1 Reading and story-telling, review writing and presentation.
Unit-IV: Positive Psychology
4.1 Attributes related to positive work outcomes, understanding the natures and importance
of hope, optimism, resilience and self-efficacy
Unit-V: Employability and Attitudes

Page 186 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

5.1 Positive and negative attitudes, factors responsible for success & hurdles in achieving
success, development of positive attitude, self-esteem and personality improvement.
Unit-VI
6.1 Self-motivation and personality improvement, motivating others.
Unit-VII: Employability Quotient
7.1 Resume building, interpersonal and group discussions, preparing yourself for
interviews, facing the interview.

Unit-VIII: Public Speaking

8.1 Voice, movements and gestures that engage audience, effective speaking for different
occasions and purposes.
Unit-IX: Emotional Intelligence
9.1 Nature and impact of stress, stress management, building social and emotional skills to
handle stress.
Unit-X: Fear and Anger Management
10.1 Managing emotions, building social and emotional skills to handle fear and anger.
Unit-XI: Work Ethics
11.1 Moral, ethical, social and religious responsibilities pertaining to professional endeavor.
Unit-XII: Team Working
12.1 Working with a team, team development, team handling and leadership.
Unit-XIII: Conflict Management
13.1 Understanding conflicts and disputes, strategies and techniques for organizational
conflict management, negotiations and interpersonal conflict-handling communication
skills.
Unit-XIV: Problem Solving Skills
14.1 Problem-solving and decision-making skills, time management,

5.0 Teaching-Learning Strategies:

⮚ Lectures

⮚ Discussions

⮚ Case studies

⮚ Projects & Term Papers

⮚ Reading Assignments

⮚ Presentations

Page 187 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

6.0 Assignments:

1 –Self-analysis: identify and write about own strengths and weaknesses (after unit I)
2 – Book review and presentation (after unit III)
3 – Writing resume and prepare a topic for group discussion (after unit VII)
4 – Identify what causes stress, fear and anger in you and how can you overcome these
emotions (after unit X)
7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Van Emden, J., & Becker, L. (2016). Presentation skills for students. Macmillan
International Higher Education.
2. Luthans, F., Youssef, C. M., & Avolio, B. J. (2015). Psychological capital and
beyond. Oxford University Press, USA.
3. Mattingly, B. A., McIntyre, K. P., & Lewandowski, G. W. (Eds.). (2020).
Interpersonal relationships and the self-concept. Springer.

9. Suggested Readings

9.1 Books

1 Willinks, T. (2019). Stress Management: 7 Simple Steps to Eliminate Uncontrollable

Stress, Anxiety and Fear by Understanding Psychology and Emotional Intelligence with
Mindfulness and Meditation. Important Publishing
2 Buchanan, D. A., & Huczynski, A. A. (2019). Organizational behaviour. Pearson UK.
9.2 Journal Articles/ Reports

⮚ GiLE Journal of Skills Development (GJSD)

⮚ Journal of Career Assessment

Page 188 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Latest research papers on stress handling, team building and other professional skills

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: ERP-II

Course Code: BSAT-404 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VII

1.0 Introduction of the Course:

Page 189 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

The basic objective of this course is to familiarize student with ERP like computerized
accounting, financial software’s, its functions, operations and reporting. This course enables a
student to understand accounting functioning in a modern world through ERP. This course
also builds foundations for management reporting with new technologies as per market
requirement for finance professionals.

2.0 Pre-Requisites Course or Other Requirements/Skills:

BSAT-314 ERP I

3.0 Course Learning Outcomes:

1. Developing hands on skills to use SAP Business One

2. Learning to use purchase, banking, inventory, and production management modules
4.0 Course Contents:
Unit-I: Purchase/ AP Module
1.1 Blanket Agreement
1.1.1 Purchase Blanket agreement
1.1.2 Purchase request
1.1.3 Purchase Quotation
1.2 PO Generation
1.2.1 Purchase Order
1.2.2 Goods Receipts PO
1.2.3 Goods return
1.3 AP Invoice Generation
1.3.1 AP invoice
1.3.2 AP Credit Memo, Reversal, Recurring Invoice etc.
1.3.3 All Purchase/ AP Reports
1.4 AP Payment Generation
1.4.1 AP Down payment request
1.4.2 AP Down payment invoice
1.5 Purchase/ AP Reports – Generating reports
Unit-II: Banking Module
2.1 Incoming Payments
2.1.1 Check Register

Page 190 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

2.1.2 Credit Card Management & summary

2.2 Deposits
2.2.1 Postdated check deposit
2.2.2 Postdated credit wizard deposit
2.3 Outgoing Payments
2.3.1 Check for payment
2.3.2 Void check for payment
2.4 Banking reports - Generating reports
2.5 Bank reconciliation
2.5.1 Bank statement & Internal Reconciliation Reports
2.5.2 Manual reconciliation
Unit-III: Inventory Module
3.1 Inventory Master Data (in different tabs)
3.2 Inventory Management
3.2.1 Inventory serial number & detail
3.2.2 Inventory manage through batches (on different tabs)
3.3 Goods Receipts and Issue
3.3.1 Goods receipts
3.3.2 Goods issue
3.3.3 Different types of inventory report
3.4 Inventory Transfer
3.4.1 Inventory transfer request and other types of inventory entries
3.5 Inventory reports - Generating reports
Unit-IV: Production Management Module
4.1 Basic setup
4.1.1 Bills of Material
4.1.2 Generation of Production Order
4.1.3 Setup for Receipt of Production
4.1.4 Update parent item
4.2 Cost recalculation
4.2.1 Production cost Recalculation Wizard
4.3 Production reports – generating reports
5.0 Teaching-Learning Strategies:

Page 191 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Lectures, discussions, presentations, quiz & assignments

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks

⮚ Padhi, S. N. (2009). SAP® ERP financials and FICO handbook. Jones & Bartlett

Learning.

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Entrepreneurship

Course Code: BSAT-405 Credit Hours: 03
Program: BS Accounting and Taxation Semester: VII

Page 192 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.0 Introduction of the Course:

This course highlights the nature and importance of entrepreneurship for business
development and execution. It helps learners to develop viable business ideas and plans and
helps to turn these plans into viable business ventures. It also enables the students to refine
their business strategies, raise financial resources, and successfully operate their businesses.

2.0 Pre-Requisites Course or Other Requirements/Skills:

1 Management
2 Marketing
3 Human Resource Management
4 Financial Management
3.0 Course Learning Outcomes:
1. Students will be able to think entrepreneurially.
2. Students will be able to analyze business environment and risks associated with
business endeavors.
3. This course will develop entrepreneurial skills among students like
opportunities assessment, resilience, risk taking, resource allocation, innovation
and creativity.
4. It will enable students to prepare and execute business plans.
4.0 Course Contents:
Unit-I: Foundations of Entrepreneurship
1.1 Entrepreneurial traits; Entrepreneurial profile; Advantages and disadvantages of
entrepreneurship.
Unit-II: Corporate Entrepreneurs
2.1 Entrepreneurs vs. intrapreneurs
2.2 Cultural diversity of entrepreneurship
2.3 Successful and unsuccessful entrepreneurs
2.4 Entrepreneurial mistakes and failure and Myths about entrepreneurship
Unit-II1: Ideas to Reality
3.1 Concepts related to creativity; Innovation and Entrepreneurship
3.2 The creative process and ways to enhance creativity
Unit-IV: Stress and its Causes

Page 193 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

4.1 How to deal with the dark side of entrepreneurship

4.2 Models of entrepreneurial motivation
Unit-V: Building a Powerful Entrepreneurial Plan
5.1 Importance of crafting a Winning Business Plan
5.2 Pitfalls to avoid in planning; Important elements of an entrepreneurial plan.
Unit-VI: Marketing and Feasibility Plan Outline.
6.2 Marketing plan; Integrated marketing communications and pricing strategies.
Unit-VII: Financial considerations and search for an entrepreneurial capital
7.2 Sources of financing. Equity and debt considerations
Unit-VIII: Business Location
8.1 Importance of suitable location
8.2 Choosing the right location and layout for entrepreneurial businesses
Unit-IX: Forms of Business Ownership
9.1 Buying an existing business
9.2 Franchising and entrepreneurship
Unit-X: E-Commerce and Entrepreneur
10.1 Selling on web and through mobile technologies
10.2 Myths of e-commerce.
Unit-XI: Global Aspects of Entrepreneurship
11.1 Conversion from local to international organizations
11.2 Strategies for going global; International trade agreements
Unit-XII: Strategic Perspectives of Entrepreneurship
12.1 Leading the enterprise; Building competitive entrepreneurial teams.
Unit-XIII: Leadership
13.1 Leadership styles and change-management; Psychological capital and
entrepreneurship.

5.0 Teaching-Learning Strategies

⮚ Lectures

⮚ Discussions

⮚ Case studies

Page 194 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Projects & Term Papers

⮚ Reading Assignments

⮚ Classroom Presentations.

6.0 Assignments:
1 – Analysis of business environment of Pakistan (after unit II)
2 – Innovative and creative business idea development (after unit III)
3 – Development of business plan (after unit VIII)

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Thomas, W., Scarborough, N. M., & Wilson, D. (2005). Essentials of
entrepreneurship and small business management.
2. Kuratko, D. F., & Rao, T. V. (2012). Entrepreneurship: A South-Asian
Perspective. Cengage Learning.
9. Suggested Readings

9.1 Books

⮚ Baron, R. A. (2014). Essentials of entrepreneurship: evidence and practice. Edward

Elgar Publishing.

9.2 Journal Articles/ Reports

⮚ Latest research papers on entrepreneurship and small businesses

Page 195 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Latest reports of chambers of commerce and industries of Pakistan

HAILEY COLLEGE OF COMMERCE

UNIVERSITY OF THE PUNJAB, LAHORE

Course Title: Seminars on Taxation Practices

Course Code: BSAT-406 Credit Hours: 03
Program: BS Accounting and Taxation Semester: 6

1.0 Introduction of the Course:

This course is designed to equip students about local tax practice and its comparison with
global taxation practices. Seminars on taxation practices also give the students an
understanding of the concepts that underpin the dynamics The students should be able to
learn Anti-Dumping Act, Anti-Money Laundering, FATF, Agriculture taxation with
underlying principles and issues. This course will also help the student to know about
contemporary issues in taxation.
2.0 Pre-Requisites Courses or Other Requirements/Skills:
1. Income Tax-I
2. Income Tax-II
3. Public Finance
4. Sales and Excise Taxation
5. Customs Laws
6. Provincial Taxes
3.0 Course Learning Outcomes:
1. This course will provide an updated and succinct, yet highly informative overview of
the key issues surrounding taxation and international law from advanced world.
2. The students should be able to learn Anti-Dumping Act, Anti-Money Laundering,
FATF, Agriculture taxation with underlying principles and issues.
4.0 Course Contents:

Unit-I
1.1 The Local and Global Tax Environment
1.1.1 Comparison of local with international taxation system.

Page 196 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

1.1.2 Taxation of Cross-border Services

1.1.3 Internet Challenge to Tax System Design
1.1.4 Foreign Expansion & Tax Credits
Unit-II
2.1 Anti-Dumping Act
1.1.1 Introduction of National Tariff Commission
1.1.2 Anti-Dumping Duties Act, 2015
Unit-III
3.1 Anti-Money Laundering
3.1.1 Performance of Financial Monitoring Unit
3.1.2 Anti-Money Laundering Act, 2010
Unit-IV
4.1 Financial Action Task Force (FATF)
4.1.1 History of FATF
4.1.2 FATF Member & Standards
Unit-V
5.1 Agriculture Taxation
5.1.1 Theory & Practice of agricultural income tax
5.1.2 The Punjab Agricultural Income Tax Act, 1997
Unit-VI
6.1 Contemporary Issues in Taxation and Allied Matters
6.1.1 National Finance Commission (NFC)
6.1.2 Tax Evasion in Pakistan, problems and solutions
6.1.3 Consistent Fiscal Deficits.
6.1.4 Challenges for Government Policy Makers.
6.1.5 Anti-avoidance & Harmful Tax Competition
6.1.6 Indirect taxes vs direct taxes
6.1.7 Tax and Development
6.1.8 Zakat and Ushr System

5.0 Teaching-Learning Strategies

⮚ Lectures

Page 197 of 203

 HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

⮚ Handouts

⮚ Group Discussions

⮚ Classroom Presentations

⮚ Projects and Term Paper

⮚ Quizzes

⮚ Case Study, Reading Assignment

6.0 Assignments:

Students would submit assignments on regular basis throughout semester.

7.0 Assessment and Examinations:

Sessional Mid-Term Final Examination

25 % 35 % 40 %
Quizzes and Tests,
Assignment and
Presentations, Attendance, Written Paper Written Paper
Class Participations and
Discipline etc.

8.0 Textbooks:
1. Herzfeld, M., & Doernberg, R. (2018). International Taxation in a Nutshell. West
Academic.
2. Miller, A., & Oats, L. (2016). Principles of international taxation. Bloomsbury
Publishing.
9. Journal Articles/ Reports

⮚ www.fbr.gov.pk

Page 198 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 199 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 200 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Semester-VIII

Page 201 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Page 202 of 203

HAILEY COLLEGE OF COMMERCE | BS-ACCOUNTING AND TAXATION

Six Month Internship

(06 Credit Hours)

Page 203 of 203