Semester 1 Semester 2

Course Credit Course Credit

Course Title Course Title
Code Hours Code Hours

COM-301 Principles of Accounting 3(3-0) COM-302 Financial Accounting 3(3-0)

COM-303 Introduction to Business 3(3-0) Introduction to Computing 3(3-0)

CSI-321 Applications
Principals of Micro 3(3-0)
ECO-301 Economics ECO-302 Principals of Macro Economics 3(3-0)

ENG-321 Functional English 3(3-0) ENG-421 Communication Skills 3(3-0)

PST-321 Pakistan Studies 2(2-0) STA-322 Introduction to Statistical Theory I 3(3-0)

MTH-306 Business Mathematics 3(3-0) ISL-321/ISL- Islamic Studies/Ethics 2(2-0)

322
Translation of the Holy 1(1-0)
ISL-311 Quran-I

Semester 3 Semester 4
Course Credit Course Credit
Course Title Course Title
Code Hours Code Hours

COM-401 Advanced Accounting-I 3(3-0) COM-402 Advanced Accounting-II 3(3-0)

COM-403 Business Law 3(3-0) COM-406 Cost Accounting 3(3-0)

COM-405 Introduction to Business Finance 3(3-0) COM-514 Principles of Auditing 3(3-0)

PSY-321 Business Psychology 3(3-0) ENG-422 Technical Writing 3(3-0)

COM-409 Logic and critical thinking 3(3-0) SOC-521 Business Sociology 3(3-0)

ECO-408 Issues in Pakistan Economy 3(3-0) STA-323 Introduction to Statistical Theory 3(3-0)
II
ISL-411 Translation of the Holy Quran-II 1(1-0)

Semester 5 Semester 6

Course Credit Course Credit

Course Title Course Title
Code Hours Code Hours

BAM-301 Principles of Management 3(3-0) COM-506 Managerial Accounting 3(3-0)

BAM-406 Financial Management 3(3-0) BAM-404 Human Resource Management 3(3-0)

COM-503 Research Methods in Business 3(3-0) BAM-302 Principles of Marketing 3(3-0)

1
 COM-509 Business Ethics and CSR 3(3-0) COM-414 Accounting Information System 3(3-0)

COM-511 Leadership and Community 3(3-0) COM-518 Corporate Law and secretarial 3(3-0)
Development practices

Translation of the Holy 1(1-0) BAM-619 Corporate Governance 3(3-0)

ISL-511 Quran-III

Semester 7 Semester 8

Course Code Credit Course Code Credit

Course Title Course Title
Hours Hours

BAM-602 Strategic Management 3(3-0) COM-302 Entrepreneurship and SME 3(3-0)

Management
COM-603 Business Taxation 3(3-0)
COM-604 International Business 3(3-0)
COM-605 E-Commerce 3(3-0)
COM- Elective-3 3(3-0)
COM- Elective-1 3(3-0)
COM- Elective-4 3(3-0)
COM- Elective-2 3(3-0)
COM-631 Research Project and Viva Voce 6(0-6)
ISL-611 Translation of the Holy Quran-IV 1(1-0)

FIELD OF SPECIALIZATION

ACCOUNTING FINANCE

Course Credit Course Credit

Course Title Course Title
Code Hours Code Hours

COM-611 Financial Reporting 3(3-0) Investment and Portfolio 3(3-0)

COM-618 Management
COM-612 Industrial Accounting 3(3-0)
COM-619 International Finance 3(3-0)
COM-613 Advance Auditing Problems 3(3-0)
FIN-736 Financial Modeling 3(3-0)
Cost Accounting for Selected 3(3-0)
COM-614 Sectors BAM-618 Corporate Finance 3(3-0)

COM-615 Advance Auditing Problems 3(3-0) COM-624 Islamic Banking and Finance 3(3-0)

COM-616 Government Accounting 3(3-0) COM-620 Risk Management 3(3-0)

COM-617 Accounting for Decision 3(3-0) COM-621 Analysis of Financial Statements 3(3-0)

2
 Making COM-622 Financial Markets and Institutions 3(3-0)

Deficiency Courses for Bridging Semester

Course Code Credit

Course Title
Hours

COM-302 Financial Accounting 3(3-0)

COM-406 Cost Accounting 3(3-0)

COM-407 Business Mathematics and 3(3-0)

Statistics

COM-303 Introduction to Business 3(3-0)

CSI-321 Introduction to Computing 3(3-0)

Applications

Detailed Course Outlines for

BS-Commerce (4 Years)

Credit
Course PRINCIPLES OF ACCOUNTING Hours
3
Pre-
NONE Semester I
requisite
Apprehend and explain the Fundamental Accounting Principles,
Concepts and Conventions
Record transactions in the General Journal, Prepare Ledger
Accounts, Unadjusted Trial Balance
Prepare Bank and Cash accounts, Bank Reconciliation
Statements and Petty Cash Statements
Objectives Make Year-end Adjustments (Adjusting Entries) and, prepare Adjusted
Trial Balance
Make Closing and Reversing Entries
Prepare Income Statement, and Balance Sheet from adjusted Trial
Balance keeping in view IFRS/IAS and Companies Ordinance
Format
Calculate and Record Depreciation by using permitted Methods

3
 COURSE OUTLINE
1. Accounting Conventions, Concepts and Principles:
Definition and Scope of Accounting; Basic Principles of Accounting;
Concepts and Conventions, Underlying Accounting Statements, Substance
over Form, the Generic Impact of International Accounting Standards on
Accounting Procedures, Practices and Statements’ Preparation as
applicable in Pakistan (IAS-1)
2. Accounting Systems and Procedures:
Principles of Double-entry Book-keeping; Accrual-based Accounting
System; Adjusting, Closing and Reversing Entries; Methods of keeping
and presenting Books of Prime Entry (Cash
Book, Petty Cash Book, Sales Journal, Purchase Journal, Purchase and Sales
Return Journals etc.); Principal and Subsidiary Ledgers; Trial Balance;
Completion of Accounting Cycle; Components of Financial Statements;
Responsibility, and Users of Financial Statements.

3. Control Accounts:
Receivable Control Accounts; Payable Control Accounts, Errors of Control
Accounts (including subsidiary ledger) and Reconciliation of Control
Accounts and Subsidiary Ledger.

4. Cash Control:
Preparation of Three-column Cash Book as well as Petty Cash Statement and
maintenance of Petty Cash System; Preparation of Bank Reconciliation
Statement; Cash Receipts and Payments Accounts. The purpose, requirements
and process of Internal Audit relating to Cash Control; Financial Control,
Errors and Frauds.

5. Rectification of Errors:
Types and Corrections of Errors not affecting Trial Balance; Corrections of
Errors affecting Trial Balance including Suspense Accounts.

6. Basic Principles of Calculating and Recording Depreciation of Tangible

Non-Current Assets – Depreciation Methods (only) as per IAS-16:
Recognition and Measurement of Tangible Non-Current Assets; distinction
between and application of principles of Capital and Revenue Expenditures,
Concept of Depreciation; Methods of Measuring and Recording of
Depreciation as per IAS-16.

7. Preparation and Presentation of Financial Statements:

Preparation and Presentation of Financial Statements for Trading & Services
4
 Concerns; Elements/Components of Financial Statements in accordance with
the format of lAS-I and Companies Ordinance; Financial Statements (Balance
Sheet, Income Statement, Cash Flow Statement and Statement of Changes in
Equity) in respect of Trading; and Services Enterprises.

Recommended Books:
1. Jerry. J, Weygandt, Paul D. Kimmel and Donald E. Kieso Accounting Principles.
2. Frankwood, Business Accounting, Volume-1
3. Financial Accounting, Mark S. Bettner, Jack L. Smith.
4. IFRSs / lASs, International Financial Reporting Standards/International
Accounting Standards Board London, published/issued by ICAP in Pakistan
Latest Edition

Reference Books:
1. Introduction to Financial Accounting – Study Text by Mohyuddin Tahir
Mahmood
2. Financial Accounting by M. Hanif and A. Mukherjee
3. Accounting by Sohail Afzal and M. Arif

INTRODUCTION TO Credit
Course 3
BUSINESS STUDIES Hours
Pre-
NONE Semester I
requisite
To acquaint students with full range of functions of business
Organizations
To apprehend about Businessman and Entrepreneurial
Activities
To make students well aware of various Legal Forms of a
Objectives
Business, and about their respective Pros and Cons
To know about the various Resources desired for a
successful business, and the Sources of Finance
To familiarize students with Pattern, Practices, Operational
Factors etc. for operating domestically and/or internationally

COURSE OUTLINE
1. BUSINESS

1.1 Scope, Importance and Functions, Entrepreneurial Qualities of a

Businessman
1.2 Business Environment and Social Responsibility
5
 1.3 Role of business in Economic Progress of the country
1.4 Problems of a Business and Business Environment

2. FORMS OF BUSINESS ORGANIZATION

2.1 Sole-proprietorship Nature, Scope, Advantages and Disadvantages

2.2 Partnership - Classification of Partnership, Advantages and
Disadvantages, Rights, Duties and Liabilities of Partners, Kinds of
partners, and Dissolution of Partnership and Firm
2.3 Joint Stock Company –Types / Classification, Formation,
Memorandum of Association, Articles of Association, Prospectus,
Capital Management, Meetings and Winding up Features, Merits
and Demerits, Management of the Companies.

3. COOPERATIVE OWNERSHIP AND BUSINESS COMBINATIONS

3.1 Meanings, Types of Cooperatives, Advantages and Disadvantages.

3.2 Business Combination: Meaning, Types and Forms, Causes and
Purposes, Advantages and Disadvantages.

4. ENTREPRENEURSHIP

4.1 Meanings/Definition, Nature, Features, Scope, Pros and Cons

4.2 Differences and Similarities between a Businessman and an
Entrepreneur, Competitive Advantage of organizations having
Entrepreneurial Edge
4.3 Real World Examples, Prospects for Entrepreneurs in Pakistan, Need
for Entrepreneurial Education and Activities

5. INTERMEDIATION / MIDDLEMANSHIP

5.1 Meanings/Definition, Nature, Rationale/Theme, Features, Scope, Pros

and Cons
5.2 Differences and Similarities between a Businessman and a Middleman
5.3 Real World Examples, Prospects for Intermediation in Pakistan, Need
for Intermediation Education and Activities

6. FINANCE

6.1 Definition, Components, Importance, Kinds and Sources

6.2 Long Term and Short Term Financing.
6.3 Some Important Financial Institutions and Regulatory Bodies.
6.4 Stock Exchange and Commodity Exchange: Nature, Role and
Significance.

6
 6.5 Risk and Risk Management: Insurance, Protection against Risks,
Importance and Types of Insurance, Types of Risks.

7. MARKETING

7.1 Process of Marketing, Definition, Functions and Scope, Approaches to

the Study of Marketing.
7.2 Marketing Mix for Physical Goods and Service Products, and
Importance.
7.3 Channels of Distribution for Consumer Good and Organizational
Goods.

7.4 Marketing Communication and Promotion, Advertising, Personal

Selling, Sales Promotion, Public Relation, Packaging.

8. TRADE

8.1 Wholesale and Retail, Meaning, Importance, Functions, Advantages

and Disadvantages.
8.2 Foreign Trade, Imports and Exports, Role in Economic Development
of the Country.

9. PHYSICAL FACTORS

9.1 Selecting Business Location, Factors Influencing Locations, Small

Business, VS Large Business
9.2 Purchasing and Inventory Control Coordination of Purchasing with
Sales, Organization of Purchasing Department, Centralize vs.
Decentralize Purchasing, Purchasing Policies and Procedure Inventory
Control.

10. THE PERSONEL DEPARTMENT

10.1 Employment Division, Recovering, Placement Promotion.

10.2 Wages and Salary Section, Analysis & Job Classification, Pay Scales.
10.3 Training Program, Apprentice, Supervisory etc.

11. BUSINESS CYCLE, AND INFORMATION TECHNOLOGY

11.1 Definition/Meaning, and the Existence in the real world.

11.2 Wage Iterative Stages/Segments of Business Cycle.
11.3 Definition/Meaning, Scope & Role of IT in Business
11.4 E-Business, and E-Commerce, and their respective Scope & Role
11.5 Business IT Domains/Orientations including: B2C, C2C, C2B etc.

7
12. OPERATING IN INTERNATIONAL/GLOBAL ENVIRONMENT

12.1 Definition/Meaning of International / Global Operations / Business.

12.2 Reasons, and Scope of International/Global Operations/Business.
12.3 Environment and Challenges for International/Global
Operations/Business.

Recommended Books:
1. Rober C. Appleby, Modern Business Administration
2. Theodre J. Sielaff & Belmont, Introduction to Business, California
3. David L. Kurtz and Louis E. Boone, Contemporary Business, 14th Edition
4. John W. Aberle, Business Studies, Wordsworth Publishing Company Inc.

Reference Books:
1. Muhammad Irshad, Introduction to Business, Naveed Publication
Lahore.
2. Ali M. H., Introduction to Business.
3. Business Organizations by ‘Nisar-ud-din’.
4. Introduction to Business by ‘M. Saeed Nasir’.

Credit
Course MICRO ECONOMICS Hours
3

Pre-Requisite NONE Semester I

To familiarize the students with the basic principles of
Microeconomics
To make students understand the working pattern of the
Objectives market economy, and ancillary concepts/mechanism
To enable students understand the optimal resource allocation
concepts
To make students practice these concepts of Microeconomics
in their personal and professional life

COURSE OUTLINE
1. DEFINITIONS:
Nature, Scope and Importance (Micro Economics); Definitions of
Economics under various School of Thoughts; Concept of Scarcity, choice
and wealth in Economics. Economic & Non-economic Goods, Positive
8
 Economics Vs Normative Economics

2. CONSUMER BEHAVIOUR:
Definition, Meaning, marginal Utility, Cardinal Approach (Law of
Diminishing Marginal Utility & Equi-marginal Utility Law) and Ordinal
Approach (Indifference Curve Analysis)

3. DEMAND:
Concepts of Demand and Law of Demand. Changes in Demand (Shift in
Demand versus Movement along Demand Curve). Determinants of
Elasticity of Demand. Consumer’s Surplus. Elasticity of Demand and its
Measurements. Price, Income and Cross Price Elasticity. Application /
Practical Importance of concept of Elastic for Managers, Concept of
Consumer‘s Surplus with the help of Diagram, Price Effect, Income Effect,
and Substitution Effect

4. SUPPLY:
Concept of Supply and Stock; Law of supply. Changes in Supply (shift and
Movement of Supply Curve). Producer’s surplus. Elasticity of Supply and its
measurement, Concept of Producer‘s Surplus with the help of Diagram

5. MARKET EQUILIBRIUM:
Price and Market equilibrium. Effects of Changes in Market Forces of
Demand and Supply on Market Equilibrium, and Market Price and Normal
Price.

6. PRODUCTION:
Law of Variable Proportions. Concept of Factor of Production, Land Labour,
Capital & Entrepreneur. Laws of Returns and their application. Production
Possibility Curve, Factor Pricing: Rent, Wages, Interest and Profit.

7. COSTS:
Costs over Time Period; Fixed, Variable, Total, Average; short run and long
run Marginal; Opportunity Costs.

8. MARKET CONDITIONS AND MECHANISMS:

Perfect and Imperfect Competition. Price and Output Determination, Revenue
Curves and their determination under Perfect and Imperfect Competition.
Forms of Market under Imperfect Competition including Monopoly,
Monopolistic competition Oligopoly Price Control, Price Ceiling and Price
Floor.

Recommended Books:
1. Pindyck Robert S, Rubinfeld Daniel L. (Latest Edition) “Micro Economics”
9
2. N. Gregory Mankiw, “Principles of Microeconomics”, Latest Edition
3. Parkin Michael (Latest Edition) “Micro Economics Latest Edition Addison
Wesley.
4. Paul A Sameulson, Economics – Latest Edition
5. Roger LeRoy Miller, “Economics Today, The Micro View”, Latest Edition
6. Samuelson Nordhaus, “Microeconomics”, Latest Edition
7. John P. Gould, Jr and Edward P. Lazear, “Microeconomics Theory”,
Latest Edition

Reference Books:
1. Hailstone J. Thomas and Mastriana V. Frank (Latest Edition) “ Basic Economics”
Latest Edition Thomson
2. Colander C. David (Latest Edition)” Economics” McGraw-Hill International
Edition.
3. Lloyd G Reynolds Irwin, Micro Economics Analysis & Policy, Irwin
Homewood Illinois Latest Edition
4. Mencaive Principles of Economic Latest Edition
5. Economics Journals/Periodicals
6. World Wide Web for Latest Information

Credit
Course FUNCTIONAL ENGLISH Hours
3
Pre-
NONE Semester I
requisite
Enhance Business Language
Objectives
Improve Presentation and Listening Skills

1. INTRODUCTION
1.1 Basics of Grammar
1.2 Parts of speech, and Types and Use of Articles
1.3 Sentence Structure, Active and Passive Voice
1.4 Practice in Unified Sentence
1.5 Analysis of phrase, clause and sentence structure
1.6 Transitive and intransitive verbs
1.7 Punctuation and spelling
2. WORD POWER
2.1 Synonyms (Particularly Business-related Contemporary Words)
2.2 Antonyms
10
 2.3 Homonyms
2.4 One word Substitution
2.5 Use of Prepositions
2.6 Words often confused (Pairs of Words)
2.7 Verbal Phrases and Idiomatic Phrases (including Phrasal Verbs)
2.8 Phrases – types and functions, and Clauses – types and functions
3. COMPREHENSION
3.1 Answers to questions on a given text
4. DISCUSSION
4.1 General topics and every-day conversation (topics for discussion to be at
the discretion of the teacher keeping in view the level of students)
5. LISTENING

5.1 To be improved by showing documentaries/films carefully selected by

subject teachers
6. TRANSLATION SKILLS
6.1 Urdu to English
7. PARAGRAPH WRITING
7.1 Topics to be chosen at the discretion of the teacher
8. PRESENTATION SKILLS
8.1 Introduction
8.2 General, and Topic-specific Presentation
8.3 Use of Technological Gadgets during Presentations

Recommended Books:
1. Functional English
a) Grammar

1. Practical English Grammar by A.J. Thomson and A.V. Martinet.

Exercises 1. Third edition. Oxford University Press. 1997. ISBN
0194313492
2. Practical English Grammar by A.J. Thomson and A.V. Martinet.
Exercises 2. Third edition. Oxford University Press. 1997. ISBN
0194313506
b) Writing

1. Writing. Intermediate by Marie-Christine Boutin, Suzanne Brinand and

Francoise Grellet. Oxford Supplementary Skills. Fourth Impression
11
 1993. ISBN 0 19 435405 7 Pages 20-27 and 35-41.
c) Reading/Comprehension

1. Reading. Upper Intermediate. Brain Tomlinson and Rod Ellis. Oxford

Supplementary Skills. Third Impression 1992. ISBN 0 19 453402 2.
d) Speaking – Exercises and Practice of Presentation
Reference Books:
1. High School English Grammar and Composition by P.C. Wren and H.
Martin

2. New Handbook of Basic Writing Skills by Cora L. Robey, Cheryl K.

Jackson, Carolyn M. Melchor and Helen M. Meloney – 5th Edition
3. Understanding and Using English Grammar by Betty Schramfer Azar
4. Mastering English Grammar by S. H. Burton
5. Kennedy, X. J., Kennedy, M. D. & Holladay, S. A ,(1999), The Bedford
Guide for College Writer, Bedford, St. Martin’s
6. Burton, S. H. ,(2000), Mastering Practical Writing, NBF

Credit
Course ISLAMIC STUDIES Hours
2
Pre-requisite NONE Semester I
This course is aimed at:
[Link] provide basic information about Islamic Studies
[Link] enhance understanding of the students regarding
Islamic Civilization
[Link] improve Students skill to perform prayers and other
Worships
Objectives
[Link] enhance the skill of the students for understanding of
issues related to Faith and Religious Life.
[Link] develop a concrete understanding about divine and
explicit Verses, Mandates, Provisions concerning
permissible Methods and Modes of Islamic Trade and
Commerce

1. INTRODUCTION TO QURANIC STUDIES

1.1 Basic Concepts of Quran
1.2 History of Quran
12
 1.3 Uloom-ul –Quran

2. STUDY OF SELECTED TEXT OF HOLLY QURAN

2.1 Verses of Surah Al-Baqra Related to Faith(Verse No-284-286)
2.2 Verses of Surah Al-Hujrat Related to Adab Al-Nabi (Verse No-1-18)
2.3 Verses of Surah Al-Mumanoon Related to Characteristics of faithful
(Verse No-1-11)
2.4 Verses of Surah al-Furqan Related to Social Ethics (Verse No.63-77)
2.5 Verses of Surah Al-Inam Related to Ihkam (Verse No-152-154)

3. STUDY OF SELECTED TEXT OF HOLLY QURAN

3.1 Verses of Surah Al-Ihzab Related to Adab al-Nabi (Verse
No.6,21,40,56,57,58.)
3.2 Verses of Surah Al-Hashar (18,19,20) Related to thinking, Day of
Judgment
3.3 Verses of Surah Al-Saf Related to Tafakar, Tadabar (Verse No-1,14)

4. SEERAT OF HOLY PROPHET (S.A.W.W)-I

4.1 Life of Muhammad Bin Abdullah ( Before Prophet Hood)
4.2 Life of Holy Prophet (S.A.W.W.) in Makkah
4.3 Important Lessons Derived from the life of Holy Prophet (S.A.W.W.) in
Makkah

5. SEERAT OF HOLY PROPHET (S.A.W.W.)-II

5.1 Life of Holy Prophet (S.A.W.W.) in Madina
5.2 Important Events of Life Holy Prophet (S.A.W.W.) in Madina
5.3 Important Lessons Derived from the life of Holy Prophet (S.A.W.W.) in
Madina

6. INTRODUCTION TO SUNNAH
6.1 Basic Concepts of Hadith
6.2 History of Hadith
6.3 Kinds of Hadith
6.4 Uloom –ul-Hadith
6.5 Sunnah & Hadith
6.6 Legal Position of Sunnah

7. SELECTED STUDY FROM TEXT OF HADITH

8. INTRODUCTION TO ISLAMIC LAW & JURISPRUDENCE
8.1 Basic Concepts of Islamic Law & Jurisprudence
8.2 History & Importance of Islamic Law & Jurisprudence
8.3 Sources of Islamic Law & Jurisprudence
13
 8.4 Nature of Differences in Islamic Law
8.5 Islam and Sectarianism

9. ISLAMIC CULTURE & CIVILIZATION

9.1 Basic Concepts of Islamic Culture & Civilization
9.2 Historical Development of Islamic Culture & Civilization
9.3 Characteristics of Islamic Culture & Civilization
9.4 Islamic Culture & Civilization and Contemporary Issues

10. ISLAM & SCIENCE

10.1 Basic Concepts of Islam & Science
10.2 Contributions of Muslims in the Development of Science
10.3 Quran & Science

11. ISLAMIC ECONOMIC SYSTEM

11.1 Basic Concepts of Islamic Economic System
11.2 Means of Distribution of wealth in Islamic Economics
11.3 Islamic Concept of Riba
11.4 Islamic Ways of Trade & Commerce

12. POLITICAL SYSTEM OF ISLAM

12.1 Basic Concepts of Islamic Political system

12.2 Islamic Concept of Sovereignty
12.3 Basic Institutions of Govt. in Islam
13. ISLAMIC HISTORY

13.1 Period of Khlaft-E-Rashida

13.2 Period of Ummayyads
13.3 Period of Abbasid

14. SOCIAL SYSTEM OF ISLAM

14.1 Basic Concepts of Social System of Islam
14.2 Elements of Family
14.3 Ethical Values of Islam

15. VERSES AND HADITH CONCERNING EXCHANGE, TRADE AND

COMMERCE

15.1 Islamic Provisions and Mandates about permitted Modes of

Trade and Commerce
15.2 Selected Verses from the Holy Qur’an about Trade and
Commerce
15.3 Extracts from Hadith about Trade and Commerce 15.4
Real Life Examples from the lives of Prophets and Saints
14
 Reference Books:
1) Translations of the Holy Qur’an
‫ سید عبد القادر شاہ‬،‘‫ ’موضح القرآن‬.a
‫ ’جمال‬.c ‫ سید حامد حسن بلگرامی‬،‘‫ ’فیوض القرآن‬.b
‫ سید محمد کرم شاہ االزہری‬،‘‫القرآن‬

Translation of the Holy Qur’an by Abdullah Yousuf Ali

The Glorious Qur’an by Dr Muhammad Tahir-ul-Qadri

‫ ’االربعین‘ للنووی‬.a
’ ‫ عالمہ نور بخش توکلی‬،‘‫ ’سیرت رسول عربی ﷺ‬.b
’ ‫ ڈاکٹر نصیر احمد ناصر‬،‘‫پیغمبر اعظم و آخر ﷺ‬.c
‫ ’اسالم‬.e ‫غالم جیالنی برق‬،‘‫یورپ پر اسالم کے احسانات‬.d
‫ سید ابو الحسن علی ندوی‬،‘‫اور مغرب‬
2) Hameed ullah Muhammad, “Emergence of Islam” , IRI, Islamabad
3) Hameed ullah Muhammad, “Muslim Conduct of State”
4) Hameed ullah Muhammad, ‘Introduction to Islam
5) Mulana Muhammad Yousaf Islahi,”

15
6) Hussain Hamid Hassan, “An Introduction to the Study of Islamic Law” leaf
Publication Islamabad, Pakistan.
7) Ahmad Hasan, “Principles of Islamic Jurisprudence” Islamic Research Institute,
International Islamic University, Islamabad (Latest Edition)
8) Mir Waliullah, “Muslim Jrisprudence and the Quranic Law of Crimes”
Islamic Book Service (Latest Edition)
9) H.S. Bhatia, “Studies in Islamic Law, Religion and Society” Deep & Deep
Publications New Delhi (Latest Edition)
10) Dr. Muhammad Zia-ul-Haq, “Introduction to Al Sharia Al Islamia” Allama
Iqbal Open University, Islamabad (Latest Edition)

16
 Course BUSINESS MATHEMATICS Credit Hours 3
Pre -Requisite NONE Semester I
To provide students with an understanding of the basic
Mathematical and Financial Techniques used in
Business Enterprises or Accountancy Profession
through application of techniques rather than its
Objectives
theoretical aspect.
To equip students with Mathematical Skills and
Knowledge that can be applied to solve Financial
Problems in field of Accountancy

COURSE OUTLINE
1. USE OF RATIOS, PRPORTION AND PERCENTAGE IN REAL
WORLD SCENARIOS
Ratios: Types, Solution, Use and Scope in Business Environment
Proportions: Types, Solution, Use and Scope in Business Environment
Percentage: Solution, Use and Scope e.g. Mechanics of “C+P=S”

2. EQUATIONS, AND THEIR USE IN BUSINESS/PROFESSIONAL

ENVIRONMENT
One-Variable Equations: Solution of First and Second Degree Equations in
One Variable
Linear Equations: Algebraic and Graphical Characteristics, Slope-Intercept
Form, Determining the Equation of a Straight Line, Linear Equations Involving
More Than Two Variables

Systems of Linear Equations

Two, Three and n-variable systems and their graphical and algebraic solutions
3. MATHEMATICAL FUNCTIONS
Definition, Types and Graphical Representation of Functions, Linear Cost,
Revenue and Profit Functions
4. MATHEMATICS OF FINANCE
Interest and its Computation, Single Payment Computations, Annuities and
Their Present/Future Value and Practical Use of all Interest Mechanisms, Cost
Benefit Analysis
5. MATRIX ALGEBRA
Introduction, Simple and Special Types of Matrices, Basic Matrix Operations.
The Determinant, Inverse, Solution of System of Linear Equations using
Matrices, and Use of Matrix Algebra in Business/Profession.

17
6. DIFFERENTIATION
Limits: Properties and Continuity; Average Rate of Change, the Derivative,
Differentiation, Higher-order Derivative, Optimization, Identification of
Maxima and Minima, Application on Revenue, Cost, and Profit
7. SEQUENCE, SERIES AND PROGRESSION
Sequence, Series and Progression: Introduction and Comparison thereof,
Arithmetic Series and its application in business, Geometric Series and its
application in business, Harmonic Series and its application in business
8. LINEAR PROGRAMMING, AND ITS APPLICATION IN REAL WORLD
Introduction, Linear programming for Constraints Optimization, Scenarios for
Linear programming, and their solution, Techniques/Methods for solving Linear
Programming Problems: Graphical Method and Simplex Method
Recommended Books:
1. Frank S. Budnick, “Applied Mathematics For Business, Economics, and
Social Sciences”, Latest Edition, McGraw-Hill Inc.
2. Charles D. Miller, Stanley A. Salzman, and Gary Clendenen, “Business
Mathematics”, Latest Edition, Addison-Wesley
3. Glencoe “Mathematics with Business Applications”, Student Latest Edition,
McGraw-Hill
Reference Books:
1. Mathematics-I & II, by Charles D. Miller, Stanley A. Salzman and Gray
Clendenen, Latest Edition.
2. Business Mathematics by Mirza and Mirza, Latest Edition
3. Business Mathematics by Nadeem Akhtar Siddiqui, Latest Edition

18
 Credit
Course FINANCIAL ACCOUNTING Hours
3
Pre-Requisite Principles of Accounting Semester II
Students should be able to:
Learn and Apply some Accounting Principles and Techniques of
generic nature by grasping Accounting Treatments in relation to
certain specialized Mechanisms / Ventures including Bill of
Exchange, Account Receivables (Provisioning and Aging), and
Consignment
Prepare Receipts and Payments Accounts, and Financial Statements
(Income and Expenditure Account, and Balance Sheet) of non-
profit organizations,
Prepare Financial Statements from Incomplete Records (Single
Objectives Entry System)
Describe the role of the International Accounting Standards, and
Reporting Framework
Learn about basics Concepts and Principles about Formation, and
Share Capital of a Company – Classes, Issue, Splits, EPS, Dividend
etc.
Learn general Features and Principles of International Accounting
Standard – 1, and their Application and Use
Learn Inventory Measurement and Disclosure: Principles of
International Accounting Standard – 2, and their Application and
Use

COURSE OUTLINE
1. PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS

Objective and Scope of IAS-1 in general & w.r.t. Pakistan, Significant Definitions
under IAS-1, Purpose of Financial Statements, Complete Set of Financial
Statements, Basic Features (Elementary Level) – Fair Presentation, Going
Concern, Accrual Basis of Accounting, Materiality & Aggregation, Frequency of
Reporting by an Entity and by law in Pakistan, General Structure and
Contents/Components of Financial Statements, Concept of Off-balance Sheet
Items, Practice of Real World Scenarios
2. INVENTORIES, AND THEIR VALUATION

Objective and Scope of IAS-2 in general & w.r.t. Pakistan, Significant Definitions
under IAS-2, Measurement of Inventories including (a) Cost of Inventories (b)
Cost of Inventories of a Service Provider and (c) Cost Formulae, Basic Disclosure
Requirements
3. ACCOUNTING FOR BILL OF EXCHANGE

Definition/Meaning of a Bill of Exchange as per Negotiable Instruments Act

1881, Difference among a Bill of Exchange, a Promissory Note and a Cheque,
19
 Accounting for transactions involving a Bill of Exchange, Jounral and Ledger
Accounts for both Drawer’s and Drawee’s (Books of Accounts); Accounting for
all four scenarios on Drawer’s Part including Withholding of a Bill, Discounting
of a Bill, Endorsement of a Bill and Bank for Collection; Accounting under
following scenarios: (a) Dishonor of a Bill of Exchange (b) Renewal of a Bill of
Exchange and (c) Retirement of a Bill of Exchange

4. ACCOUNTING FOR ACCOUNTS RECEIVABLE, BAD DEBTS &

PROVISION FOR BAD/DOUBTFUL DEBTS

Receivables and its Subsidiary Ledger, Accounting and Recording Bad Debts
(first year and subsequent years) and its Recovery, Estimation and Valuation of
Allowance/Provision for Bad and Doubtful Debts (both Income Statement and
Balance Sheet Approaches of Estimation)

5. ACCOUNTING FOR CONSIGNMENT

Meanings of Consignment, Accounting in the Books of both i.e. Consignor and

Consignee, Profit and Loss Measurement and its Accounting, Stock Valuation,
Commission in General and Del Credere Commission, Accounting under Cost-plus
Method, and Invoice Price Method

6. ACCOUNTING FOR SHARE CAPITAL OF A CORPORATION

Corporation, and a Company’s Formation, Recording of (Accounting for) Issue of

Shares at par, premium and discount, Concept and Meaning of Stock Splits; Right
Issue of Shares; Treasury Stocks, Sources of Retained Earnings; Appropriation of
Profit to Dividends and Reserves; Types of Reserves, Primary (IPO / Prospectus)
VS Secondary Market (Stock Exchange etc.), Concepts pertaining to cash
dividends, stock/scrip dividends, property dividends, Basic EPS and Diluted EPS,
Adjust the Weighted Average Number of Common Shares for Stock Dividends,
Stock Splits, Use of Treasury Stock Method

7. ACCOUNTING FOR ‘ASSOCIATIONS NOT-FOR-PROFIT’

Definition/Meaning of Associations Not-for-profit with the help of suitable

Examples, Scope of Accountancy Profession in such organizations, Sources of
Revenue for Non-trading Concerns / Special Nature of Accounting Heads in these
Associations including Subscriptions/Donations etc., Preparation of Cash Book;
Receipts and Payments Account, Financial Statements of these Associations
including Income and Expenditure Account; Computation of Capital Fund

8. ACCOUNTING FROM INCOMPLETE RECORDS

Meaning of Incomplete Records (Single Entry), Differentiation between Single

20
 Entry and Double Entry Book-keeping, Capital and Profit Determination under
Single Entry System of Accounting

9. ACCOUNTING INFORMATION SYSTEM (AIS) AND COMPUTER-

BASED ACCOUNTING SYSTEMS

Definition/Meaning of AIS, Scope and Use of AIS, Computerized Accounting

and AIS, Basic Information, Structure and Hand-on Practice over two Accounting
Software (Pecahtree and Quickbooks), Computer-based Application in
Accounting, Advantages of Computer-based Systems, Ways of achieving Internal
Controls in a Computer-based Accounting System, Preparation of Chart of
Accounts, Concepts of Working on Peach Tree Accounting Package

Recommended Texts:
1. International Accounting Standards (IAS) and International Financial Reporting
Standards (IFRS) Latest Edition by ICAP
2. Kieso, Weygandt, and Warfield, Financial Accounting, Latest Edition, Wiley
higher education.

3. Meigs, B. Walter., Johnson, E. Charles. & Meigs, F. Robert, “Accounting:

the basis of Business decisions”, Latest Edition – McGraw-Hill,.
4. Hall A. James., Accounting Information System, Latest Edition, Thomson
South-Western.
5. SAGE software, Peachtree Complete Accounting Software, Latest Edition,
SAGE software

Reference Books:
1. Financial Accounting by M. Hanif and A. Mukherjee Latest Edition
2. Larson, K. D., Wild, J. J., & Chiappetta, B. ,“Financial Accounting”, Latest
Edition, McGraw-Hill Irwin.
3. Marshall B. Romney, Paul J. Steinbart., Accounting Information System,
Prentice Hall.
4. [Link] by M. Hanif and A. Mukherjee - Latest Edition

21
 COMPUTER APPLICATIONS Credit
Course 3
IN BUSINESS Hours
Pre-
NONE Semester II
Requisite
To develop awareness about Computer Hardware and
Peripherals; Concepts regarding Software – its Types, Basic
Operations, Basic OS Concepts, OS Installation
To develop Advanced User Level Skills in various Application
Objectives Packages: MS Word, MS Access, MS Excel, and MS
PowerPoint
To set-up a Computer for World Wide Web connection; Use
e-mail to send / receive messages and file attachments;
Concepts of On-line group Discussion.

COURSE OUTLINE
1. INTRODUCTION TO COMPUTERS
Definition/Meaning of Computer, its Characteristics, History, Generations of
Computers; Computer Hardware and its Peripherals, New Hardware and
Peripheral’s Installation. (Hands-On), Basic Architecture of Computer
System; Software – its Types, Basic Operations. General Installation
guidelines. (Hands-On); Concepts of Computer Virus, Worms, Hacking,
Spam etc. and Use of Anti-virus Techniques/Software

2. INTRODUCTION TO OPERATING SYSTEM (MICROSOFT

WINDOWS XP or other Latest)
Basic concepts regarding Systems Software and OS, and OS (Windows)
Installation, Repair, Recovery
Using Windows Environment. (Hands-On)
· Windows XP or other Features
· Start Menu, Task Bar, System Tray
· Control Panel, its basic items
· Printing
· Managing Files and Folders
· Windows Explorer
· Opening Documents / Files
· Copying and Moving Files
· Deleting Files and Folders
· Controlling the View Detail Level
· Customizing the Tool Bars

22
3. WORD PROCESSING BASICS
Types of Documents created with a Word Processing Program (MS Word); An
overview of the Menus in MS Word; Principal Features of a Word Processing
Program (Hands-On); In-depth Knowledge and Competence on various
operations of MS Word

4. SPREADSHEET APPLICATIONS
Spreadsheet basics, its vocabulary, and principles; Usage of functions, macros,
sorting, formatting, generating charts, pivot tables.
Financial Management related Formula’s Implementation and Statistics related
Formula’s Implementation.
Cell Formatting, Print Previewing / Printing of selected Data; Insert and Name
Worksheets; Import Spreadsheet Reports and Charts into Word Processing
Documents; Set up and Analyze Itemized lists of numbers e.g. various types of
budgets / financial statements; concept of Financial Modelling on worksheet.
5. DATABASE APPLICATIONS
Define the Purpose, and Components of Database; Plan a simple Two-table
Database; Cardinality of Relationship; Creating Tables; Creating Relations of the
Tables; Use Wizards to enter and to search Data; To create a Report; Enter Data
in a form; Creating Module using Microsoft Access; Using simple Queries in
Wizard; Privacy / Security Issues related to Databases; Create Data Base Using
Microsoft SQL Server 2000 or latest.

6. PRESENTATIONS THROUGH POWERPOINT

Examine Purpose, Examples of a Presentation; Explain Components of a
Presentation; Outline a Presentation and Apply good Design Principles; Apply
and Modify a Design Template; Add Clip Art, Charts, SOUND to a presentation;
Formatting a slide Show; Applying Slide Background, Color, Style, Transitions –
visual, text; Running a Slide Show

7. BASICS OF NETWORKING
Use of Networks; Its Common Types/Classes
Data Communication Modes; Using Telephone Lines, Modems
Wireless Networks
Network Security Issues

8. INTERNET & E-MAIL BASICS

Introduction to the Internet, the terminology, its advantages and
disadvantages; Security on the Internet – Tools & Tips; IT Issues; Privacy;
Ethics and Legal Framework.
Recommended Books:
1. Understanding Computers by Deborah Morley and Charles Parker Latest
Edition
23
2. Fundamentals of Computers By V. Rajaraman Latest Edition
3. Capron, H.L. Computers, Tools for an Information Age, Prentice Hall
Publishers, Latest Edition
4. Gralla, Preston ‘How The Internet Works’, Que Publishers Latest Edition
5. Kinkoph, Shery How to use Microsoft Office XP. Sams Publishing Latest
Edition
6. Grauer, Robert T. & Barber, Maryam, Exploring Office XP, Volume1.
Prentice Hall Publishers Latest Edition

Reference Books:
1. Ricardo, Kethrine Data Base Management Systems. Jones & Bartlett
Publishers Latest Edition
2. Crumlish, Christian, The ABCs of the Internet, Sybex Inc Latest Edition
3. Computer Fundamentals By Concepts, System & Applications By Pradeep
[Link], Priti Sinha Latest Edition
4. Sinha , P.K. Introduction To Computers, BPB Publications Latest Edition

24
 Credit
Course MACRO ECONOMICS Hours 3
Pre-
Micro Economics Semester II
requisite
This course will enable students:
Learn the basic principles of Macroeconomics
Understand the working of the policy initiatives in the market
economy
Objectives
Understand the aggregate concepts of National Income,
Employment, Inflation, Money, Banking and Foreign
(Exchange and Policy) Sector Issues
Develop Macro Economics Thinking among Students

COURSE OUTLINE
1. NATIONAL INCOME:

Defining Macroeconomics, and understanding its Nature; Comprehending the

Nature and Significance of National Income (NI); Comprehending
Theoretically and Numerically the following Concepts of NI; General
Concept and Overview of National Income: (a) Gross Domestic Product
(GDP) (b) Gross National Product (GNP) (c) Net National Product (NNP)
(d) National Income (NI) at Market Price and at Factor Cost (e) Personal
Income (PI) (f) Disposable Personal Income (DPI); Concepts of Per Capita
Income (PCI) and Transfer Payments, and other associated Concept;
Measurement of National Income with the help of a rigorous Illustration;
Measurement of National Product in Current Price and in Constant Prices;
Circular Flow of National Income A Comprehensive Overview; Other
Associated Concepts concerning National Income

2. TRADE CYCLE:
Defining and Understanding the Trade Cycle and its Nature; Phases, Causes &
Remedies; Theory of Trade Cycles (Keynes theory); Employment and Theories
of Unemployment; Consumption, Keynesian Psychological Law of
Consumption, & Consumption Function; Saving Function & Investment
Function, and Investment Multiplier; Inflationary and Deflationary Gaps under
Keynesian Theory; Inflation and its Kinds, Causes, & Remedies

3. MONEY AND VALUE OF MONEY:

Defining Money and understanding its Nature; Primary, and Secondary /

Contemporary Functions of Money; Forms / Types of Money; Comprehending
the Concept of Value of Money; Quantity Theory of Money (Classical and
25
 Modern Version); Liquidity Preference Theory; Motives to Save (Money Demand
of Keynes); Money Multiplier and its Effects / Implications; Money Supply, and
Monetary Aggregates in Pakistan; Any other Ancillary or Contemporary Topic /
Concept / Theory

4. BANKING:

Defining a Bank and Banking w.r.t. Banking Laws applicable in Pakistan;

Primary, and Secondary / Contemporary Functions of a Bank; Forms / Types of
Banks; Commercial VS Central Banking; Functions of a Central Bank; Monetary
Policy by a Central Bank; Credit Creation Method and Process

5. PUBLIC (GOVERNMENTAL) FINANCE:

Defining and Understanding the Public Finance; Difference between Private and
Public Finance; Revenue and Expenditure of Public Bodies; Kinds of Taxes and
Cannons of Taxation; Fiscal Policy - Meaning, Rationale, Use & Scope and
Tools/Techniques; Government Budget and Economic Survey

6. BALANCE OF PAYMENTS:

Defining and Understanding Balance of Payments; Difference between Balance

of Payments and Balance of Trade; Equilibrium and Dis-equilibrium in Balance
of Payments; Causes of Dis-equilibrium, and Measures to Balance it;
International Trade and its Primary Theories; Defining and Understanding the
Exchange Rate, and its Mechanics; Exchange Rate Policies

Measures to improve: Monetary System, Fiscal Balance, Exchange Rate, BOP

and BOT, Overall Economy, and Financial Health of the Country; Components of
an Ideal Public Policy

7. ECONOMIC SYSTEMS:

Defining and Understanding an Economic System; Major Forms of an Economic

System including; Market Economy, State-controlled Economy, Mixed Economy
and Islamic Economic System; Features, and Pros & Cons of above-mentioned
Forms of Economic Systems; Role and Responsibility of a
State/Government/Kingdom in all above-mentioned Forms of Economic Systems;
Role and Mechanics of Zakat and Usher; Economic Role of State in Islam; Zakat
and Usher; Other Contemporary Associated/Ancillary Concepts / Theories /
Topics

8. REAL WORLD MACROECONOMICS w.r.t. PAKISTAN:

Use of Macroeconomic Variables in Ministry of Finance; Use of Macroeconomic

26
 Variables in Ministry of Commerce; SBP Economic, Banking and Financial
Reviews; Any other publications concerning Macroeconomic Variables;
Economic Problems and Issues of Pakistan and their respective suitable and
feasible Solutions

Recommended Books:
1. Parkin Michael, Macro Economics, Latest Edition, New York Addison
Wesley
2. Paul A Sameulson, Economics. Nancy Smith Barrett, The Theory of Macro
Economic Policy, Prentice Hall, Latest Edition
3. Edward Shapiro, Macro Economic Analysis, Harcourt Brace, Latest
Edition.
4. Mensfield Edwin, Principles of Macro Economics, Latest Edition, New
York W.W. Norton

Reference Books:
1. Begg David, Fischer Stanley, Dornbusch Rudiger, Economics, Latest Edition,
The McGraw-Hill.
2. Nordous. D. William, Samuelson Paul. A Macro Economics Latest Edition,
McGraw-Hill.
3. Froyen T. Richard Macroeconomic theories and policies
4. Begg David, Fisher Stanley Dornbush Rudiger Economics
5. Journals/Periodicals: World Wide Web/Internet Material
6. Federal Bureau of Statistics & Economic Survey of Pakistan
7. Pakistan Golf and Economist (The Economist)
8. Ministry of Finance [Link]
9. State Bank of Pakistan [Link]

27
 BUSINESS Credit
Course COMMUNICATION Hours
3

Pre-
Functional English Semester II
requisite
To develop awareness about Business Communication Skills,
Tools and Methods
To develop leaning about Business Correspondence
To understand the Use and the Scope of Business
Objectives
Communication and Correspondence Dimensions in Real
World Scenario
To comprehend Professional Style, Content and Tone of
Communication

COURSE OUTLINE
4. INTRODUCTION TO BUSINESS COMMUNICATION
Definition/Meaning of Effective Business Communication, its Use and Scope;
The Process of Communication (formal and informal): Communication
Networks and Barriers; 7 Cs of Communication, and their practical
Implication

2. THE PROCESS OF BUSINESS COMMUNICATION

Elements of Communication; Concepts concerning Communication; Non-verbal
Communication and related Concepts; Process of preparing Effective Business
Messages, Planning Steps, Basic Organizational Plans, Beginnings and Endings,
Composition of the Message.

3. EFFECTIVE COMMUNICATION TECHNIQUES:

Identifying Audience, Establishing Purpose, Formulating Message, Selecting
Style and Tone, Functions of Job-related Writing, Writing Process,
Communicating in the Electronic Medium/Media; Business Norms: Writing for
Effect, You – view point, and Positive Language

4. LETTER WRITING
Appearance, Attitude, Format, Parts, and Tone & Style

5. BASIC PATTERNS OF BUSINESS MESSAGES

Direct Request Letter, Memorandum, Etiquette, and Process of writing

6. BAD NEWS MESSAGES

Organizational Plans, Indirect and Direct Plans, Analysis of Example;
Communications, Memos - Direct Plan, Practice (class work/ home work)

28
7. GOOD NEWS MESSAGES
Good News & Neutral Messages - Direct Plan - Indirect Plan

8. CREDIT REFUSAL AND .COLLECTION LETTERS

Organizational plan, Analysis of Example Letters, Practice (class work/ home
work)

9. PERSUASIVE LETTERS/MEMO
Persuasive letters / Memo: Organizational Plan, AIDA, Analysis of example
Letters, Practice (class work/ home work)

10. SALES LETTERS

Sales letters: Organizational plan, Analysis of Example Letters, Practice (class
work/ home work)

11. JOB APPLICATION LETTERS / RESUMES

Job application letters/Resumes: Organizational plan, Analysis of different types
of job application letters/resumes, Practice (class work/ home work)

12. REPORT WRITING

Meaning and Classification of Business Reports, preparation before writing
Reports, Main Parts/Components of the Report, organization and outline of
Report Body, Visual Aids, Short Reports, Suggestions for short

report, Informational Memorandum reports, analytical memorandum reports with

graphs, informational and analytical report, formal report, working plans,
prefatory parts: documentation and other notes, supplemental parts, presentation
of the formal report.

13. ORAL PRESENTATION AND USE OF MODERN ELECTRONIC

GADGETS:

Oral presentations and successful listening, improving oral presentations,

improving your listening. Successful informative speaking, purpose of
informative speaking. Analysis of audience. Organization and outline of the
informative speech. Support for informative speeches, successful persuasive
speaking. Purpose of persuasive speaking. Audience analysis. Organization of the
persuasive speeches. Successful business meetings. Meetings in business
leadership responsibilities. Participant responsibilities. Methods of solving
problems in meetings; Agenda and Minutes of the Meeting.

Recommended Books:
1. Business Communication by Herta Murphy Latest Edition
2. Excellence in Business Communication by John V. Thill and Courtland L. Bovee
Latest Edition
29
3. The Business Communication Hand book by Judith Dwyer Latest Edition
4. Basic Business Communication by Lesikar & Flatley – Latest Edition
5. Compulsory Readings:
i. Daily Business Recorder;
ii. Economic & Business Review (Daily DAWN);
iii. Pakistan Gulf & Economist (Magazine).

Reference Books:
1. Effective Business Communication and Report Writing by Sheikh Atta-ur-
Rehman Latest Edition
2. Communication for Business by Shirley Taylor. Pitman publishing London Latest
Edition
3. Guffey, Mary Ellen. "Business Communication Process and Product'. New York:
Thomson Latest Edition
4. Guffey, Mary Ellen. "Essentials of Business Communication". New York:
Thomson, Latest Edition
5. Gibaldi, Joseph, MLA Handbook Latest Edition

30
 Credit
Course BUSINESS STATISTICS Hours
3
Pre-
NONE Semester II
requisite
This course is meant to provide students with an understanding
of the basic Statistical Techniques for descriptive and inferential
data analysis, which will be useful and helpful in their
Objectives
specialized areas including Finance, Accounting and
Management for better analysis and optimal Decision-making
with given conditions and constraints.

COURSE OUTLINE

1. INTRODUCTION TO STATISTICS

Broad overview of the subject of Statistics and its applications; Uncertainty,

Sampling, Population, and Samples; Distinction between descriptive and
inferential statistics; Statistical thinking; Importance and pitfalls of
spreadsheet programs like Microsoft Excel and SPSS.

2. DESCRIBING DATA: GRAPHICAL

Types of data and classify variables; How to organize numerical data; Tables
and charts for numerical data; Tables and charts for categorical data

3. DESCRIBING DATA: NUMERICAL

Central tendency in numerical data (Measures of Location); Variations in

numerical data (Measures of Dispersion); Descriptive summary measures
from a population (Sampling Techniques)

4. PROBABILITY

Basic probability concepts; Classification/Forms of Probability; Conditional

probability and statistical independence; Use of Bayes' theorem to revise
probabilities in the light of new information

5. DISCRETE RANDOM VARIABLES & PROBABILITY DISTRIBUTIONS

Understanding of the basic concepts of discrete probability distributions and

their characteristics; Concept of mathematical expectations in relation to
discrete random variables; Binomial distribution and its application; Poisson
distribution and its application; Hypergeometric distribution and its
application; Joint probability distributions and their application
31
6. CONTINUOUS RANDOM VARIABLES & PROBABILITY
DISTRIBUTIONS

Normal probability distribution and its use in representing ; certain continuous

variables; Normal probability in assessing Normality; Exponential distribution;
Normal approximation to the Binomial distribution

7. LINEAR REGRESSION AND CORRELATION

Concept of Strength and Direction of Relationship; Scatter Diagram and its use;
Coefficient of Correlation (Simple, Partial and Multiple); Simple and Multiple
Linear Regression; Coefficient of Determination

8. SAMPLING AND SAMPLING DISTRIBUTIONS

Concept of sampling distributions; Central limit theorem; Developing the

framework for statistical inference

9. STATISTICAL COMPUTING:

Excel and Minitab; Using MS Excel and Minitab for the above-mentioned
techniques

Recommended Books:
1. Statistical Techniques in Business and Economics by Lind., Marchal., and
Wathen Latest Edition
2. Paul Newbold, William Carlson and Betty Thorne, “Statistics for Business and
Economics”, Latest Edition, Prentice Hall.
3. Basic Statistics for Business and Economics by Earl K. Bowen and Martin k.
Starr Latest Edition
4. Downing Douglas and Jeffery Clark, “Business Statistics”, Latest Edition,
Barron’s Educational Series Inc.

Reference Books:
1. Quantitative Methods in Finance by Terry J. Watsham and Keith Parramore
Latest Edition
2. Business Statistics A Multimedia Guide to Concepts and Application by Chris
Robertson Latest Edition.

32
 Credit
Course PAKISTAN STUDIES Hours
2
Pre-
NONE Semester II
requisite
To develop vision of historical perspective, government,
politics, contemporary Pakistani Issues/ Problems/
Challenges,
Objectives To go through the Ideological background of Pakistan.
To study the process of governance, national development,
To study the Issues arising in the modern age and posing
challenges to Pakistan
COURSE OUTLINE
1. THE CREATION OF PAKISTAN
Reason for Creation of Pakistan; Evolution and Development of Two-nations
Theory; The Role of Two Nation of Theory in the formation of Pakistan; Any
other associated concepts.
2. HISTORICAL PERSPECTIVE
a. Ideological rationale with special reference to Sir Syed Ahmed Khan, Dr.
Allama Muhammad Iqbal and Quaid-e-Azam Muhammad Ali Jinnah.
b. The development of ideology of Pakistan in the pre- and post-independence of
Pakistan
c. Factors leading to Muslim separatism
d. People and Land
i. Indus Civilization
ii. Muslim advent
iii. Location and geo-physical features.
3. GOVERNMENT AND POLITICS IN PAKISTAN
Political and constitutional phases:
a. 1947-58
b. 1958-71
c. 1971-77
d. 1977-88
e. 1988-9
f. 1999-08
g. 2008-13
h. 2013 onwards
4. CONTEMPORARY ISSUES IN PAKISTAN
a. Economic institutions and issues
b. Society and Social Structure
33
 c. Ethnicity
d. Foreign Policy of Pakistan and challenges
e. Prospective Outlook of Pakistan
Recommended Books:
1. Akbar, S. Zaidi. Issues in Pakistan’s Economy. Karachi: Oxford University
Press, Latest Edition.
2. Javeed Ahamd Sheikh, Pakistan’s Political, Economics and Diplomatic
Dynamics, Lahore: Kitabistan Paper Productions, Latest Edition
3. Ikram Rabbani, An Introduction to Pakistan Studies, Lahore: Caravan Book
House, Latest Edition
4. Stephen Philip Cohen, The Idea of Pakistan, Lahore: Vanguard Books, Latest
Edition
5. Saeed Shafqat. Pakistan Studies, Lahore: Taklikat Publishers, Latest Edition
6. Sher Muhammad Garewal, Pakistan way of Life and Culture, Lahore:
Publisher united - Latest Edition
7. Burki, Shahid Javed. State & Society in Pakistan, The Macmillan Press Ltd.,
Latest Edition.
8. S.M. Burke and Lawrence Ziring. Pakistan’s Foreign policy: A Historical
analysis. Karachi: Oxford University Press, Latest Edition.
9. Mehmood, Safdar. Pakistan Political Roots & Development. Lahore, Latest
Edition.
10. Wilcox, [Link] Emergence of Bangladesh., Washington: American
Enterprise, Institute of Public Policy Research, Latest Edition.
11. Mehmood, Safdar. Pakistan Kayyun Toota, Lahore: Idara-e-Saqafat-e-
Islamia, Club Road.
12. Amin, Tahir. Ethno - National Movement in Pakistan, Islamabad: Institute of
Policy Studies, Islamabad - Latest Edition
13. Afzal, M. Rafique. Political Parties in Pakistan, Vol. I, II & III. Islamabad:
National Institute of Historical and Cultural Research, Latest Edition.
14. Muhammad Waseem, Pakistan under Martial Law, Lahore: Vanguard, Latest
Edition.
15. Noor ul Haq, Making of Pakistan: The Military Perspective. Islamabad:
National Commission on Historical and Cultural Research, Latest Edition.

34
 Credit
Course ADVANCED ACCOUNTING – I Hours
3
Pre-
Financial Accounting Semester III
Requisite
Preparation of Financial Statements of Companies in accordance
with statutory requirements of Companies Ordinance and
International Financial Reporting Standards (IFRS) / International
Accounting Standards (IAS) with appropriate notes to a preliminary
Objectives extent,
Compute working capital ratios for business sectors.
Identify and explain Reasons for Profit Appropriation,
To learn about practical Implication of IAS-16, 18 and 38
Application and selection of accounting techniques and

procedures to specific circumstances like leases, branches,

departmental stores, consignment, joint venture and construction
contracts.
prepare accounts and financial statements of joint venture, partnership,
branches & departmental types of businesses,
Identify and explain reasons why any loss/gain is debited or credited to
retained earnings,
Prepare a statement of changes in Equity

COURSE OUTLINE
1. PREPARATION OF FINAL ACCOUNTS UNDER THE PROVISIONS
OF COMPANIES ORDINANCE 1984 AND IFRS/IAS
a. Conceptual Framework concerning Presentation Requirements of relevant
IFRSs / IASs; 4th & 5th Schedule of Companies Ordinance, 1984 as to
contents and presentation of Financial Statements
b. General Trading and Profit and Loss Account, Profit and Loss
Appropriation Account, Concept of ‘Statement of Comprehensive Income’,
and Balance Sheet
c. Statement of Changes in Owners’ Equity (with concept of negative
Equity) and Cash Flows Statement (w.r.t. IAS-7)
d. Certain ancillary concepts including Off Balance Sheet Items, Residual
Equity etc.
e. Treatment of the following Items;
i. Issue of Shares viii. Long Term Loans and their
ii. Cash Dividends current Maturity
iii. Right Shares and Bonus Issue ix. Bad Debts & Provisions
iv. Reserves x. Workers Profit Participation Fund
v. Govt. Levies (especially Sales xi. Workers’ Welfare Fund
Tax) xii. bank margins and guarantees
35
 vi. Prior Period Adjustments including Commitments and
vii. Excise Duty and Sales Tax Guarantees

2. DEPARTMENTAL ACCOUNTING
Departmental Accounting an Introduction, Accounting Systems for
maintaining Departmental Accounts, Advantages of Departmental Accounts,
Profit and Loss Account, Allocation of Departmental Expenses, Inter-
departmental Transfers – Cost or Market Price Basis, Accounting treatment of
unsold stock with the departments

3. BRANCH ACCOUNTING

Nature and Operational System of a Branch, Its Comparison with Department,

Accounting Systems for Depended Branches, Independent
Branches and Head Office Reconciliation, Inter-branch Transactions, Issues with
Wholesale Branch

4. ACCOUNTING FOR JOINT VENTURE

Nature of Joint Venture Enterprises, Accounting Treatment – When separate

books of accounts are maintained, and When separate books are not maintained,
Memorandum Recording Methods, Profit or Loss Computation

5. PARTNERSHIP ACCOUNTING
(Selected Topics – Formation, Admission & Goodwill Calculation)
Features and Formation of Partnership, Distribution of Profits among
Partners, Changes in Partners’ Sharing Ratios, Partners’ Capitals and their Kinds,
Accounting Treatment for Issues on Admission of a Partner, Calculation of
Goodwill under Partnership

6. PROPERTY, PLANT AND EQUIPMENT w.r.t. IAS-16

Definitions provided in IAS-16; Methods of Depreciation and Change of Method,

and its implications; Revision of Life of an Asset, and its implications;
Accounting for Disposal and Exchange of an Asset, Disclosure Requirements.

7. REVENUE RECOGNITION w.r.t. IAS-18

Scope, and Definitions; Measurement of Revenue; Identification of the

Transaction; Sale of Goods; Rendering of Services; Interest Royalties and
Dividends.
8. INTANGIBLE ASSETS w.r.t. IAS-38

Definitions and Concepts; Recognition and Measurement; Internally Generated

36
 Intangible Assets; Research Phase and Development Phase; Practical
Implications of the IAS through practice of some basic Illustrations.

Recommended Texts:
1. International Accounting Standards (IAS) and International Financial Reporting
Standards (IFRS) Latest Edition by ICAP
2. Kieso, Weygandt, and Warfield (Latest Edition) Intermediate Accounting, Latest
Edition Wiley Higher Education.
3. Javed H. Zuberi , “Advanced Accounting”, Latest Edition, Petiwala Book
Depot.
4. An Insight into IFRSs by Mohyuddin Tahir

Recommended Texts:
1. Gateway to IFRS Latest Edition
2. Mukherjee A. Hanif, “Modern Accountancy”, Volume I & II. Latest Edition.

37
 Credit
Course BUSINESS LAW Hours
3
Pre-
NONE Semester III
Requisite
This course is intended to:
Acquaint students with Legal System of Pakistan
Familiarize the students with the different Mercantile Laws
affecting the economic and business environment in Pakistan.
Make students understand the important elements and
Objectives aspects of business and industrial laws.
Enable the students to assess the nature and Impact of certain types
of rules and regulations by analyzing the cases referred to in the
recommended books/sources.
Equip the students with the necessary skills and aptitude to
deal tactfully with the legal situations arising out of business
routine matters.

COURSE OUTLINE
1. LEGAL SYSTEM OF PAKISTAN

Meaning of Legal System; Major Components / Divisions of Legal System of

Pakistan; Comprehensive Analysis of Legal System of Pakistan; Factors of
Economic Development w.r.t to Pakistan; Various Measures / Strategies to
enhance Economic Growth

2. BUSINESS LAW

Nature of Business Law; Major Sources of Business Law; Application / Use

of Business Law;

3. CONTRACT ACT, 1872

Proposal and Acceptance including Legal Definition, and Meaning,

Communication of Offer and Acceptance, Revocation of Offer and Acceptance;
Agreement and Contract including Legal Definition, Meaning, and Difference,
Legal Capacity to make a Contract, Major Classification and Kinds of Contracts,
Essential Elements / Ingredients of a Valid Contract, Trinity of a Contract.
Legal Rules pertaining to Consideration, and Exceptions thereof, Major Types of
Void Agreements.
Flaws in Contracts, Free Consent, and its Flaws (Coercion, Undue Influence etc.),
Doctrine of Frustration of Contract.
Quasi Contract, and its Types, Contingent Contract, and its Types, Performance of
38
 Contracts including Reciprocal Promises
Breach and Discharge of Contracts, Remedies for Breach of Contract
Contracts of Indemnity and Guarantee covering Legal Definition, Meaning, and
Difference, Rights and Liabilities of Indemnity-holder, Consideration for
Guarantee, Nature and Extent of Surety’s Liability, Continuing Guarantee, and its
Revocation, Rights of Surety, Discharge of Surety from Liability
Law of Agency covering Legal Definition, and Meaning, General Rules of
Agency, Eligibility to employ an Agent, and Eligibility to become an Agent,
Necessity of Consideration for Agency, Classification of Agents, Modes of
Creation of Agency, Extent of Agent’s Authority, and Delegation of
Authority, Distinction between Sub-agent and Substituted Agent, Duties and
Rights of Agent, Personal Liability of Agent to Third Parties, Rights and Duties of
Principal, Liability of Un-named, and Un-disclosed Principal, Modes of
Termination of Agency
Bailment and Pledge including Essential features, and parties; Rights and duties of
parties; Termination of pledge and Bailment

4. PARTNERSHIP ACT, 1932

Nature of Partnership including Legal Definition, and Meaning of Partnership and

Firm, Essential Elements
Formation of Partnership, and Ancillary Provisions; Pre-requisites to form
Partnership, Partnership Deed, and its Constituents, Classification of Partnership,
Kinds of Partners, Status of a Minor admitted to the Benefits of Partnership,
Registration of a Firm, and its Rationale (i.e. Effects of Non-registration), Rights
and Duties of Partners, Relations of Partners to Third Parties, and Liabilities
thereto, Incoming and Outgoing partners
Dissolution of Partnership Firm covering Dissolution of Partnership, and
Dissolution of Firm, Modes of Dissolution of a Firm, Classification of Partnership,
Kinds of Partners, Status of a Minor admitted to the Benefits of Partnership
5. SALE OF GOODS ACT, 1930
Contract of Sale of Goods covering Legal Definition, and Meaning of a Contract of
Sale, Essential Elements of a Contract of Sale, Distinction between Sale and
Agreement to Sell, Classification (Kinds) of Goods, The
Provisions pertaining to ‘Price’

Conditions and Warranties covering, Legal Definition of Condition and Warranty,

The Distinction between them thereof, Conditions and Warranties (Express and
Implied) in a Contract of Sale
Provisions pertaining to ‘Transfer of Property’
39
 Performance of a Contract of Sale including Legal Definition, and Meaning of
‘Performance’ in a Contract of Sale, Modes of Delivery, Acceptance of Delivery by
Buyer, Sale by non-owner
Remedial Measure in a Contract of Sale, Legal Definition, and Meaning of
‘Unpaid Seller’ in a Contract of Sale, Rights of an ‘Unpaid Seller’, Rights of a Buyer
against Seller, Auction Sale, and Legal Provisions regarding it

6. NEGOTIABLE INSTRUMENTS, 1881

Nature and Meaning of Negotiable Instruments including Legal Definition, and

Meaning of a Negotiable Instruments, Characteristics of Negotiable Instruments,
Presumptions as to Negotiable Instruments
Classification (Kinds) of Negotiable Instruments; Promissory Notes Definition, and
Essential Elements, Bill of Exchange Definition, and Essential Elements, Cheque
Definition, and Essential Elements, Hundi Definition, and Meanings
Parties to Negotiable Instruments: Holder Meanings, and Features; Holder-in-due-
course Meanings, and Features; Capacity of Parties
Presentment of Negotiable Instruments: Presentment for Acceptance; Presentment for
Sight; Presentment for Payment
Negotiation of Negotiable Instruments: Definition, Eligibility for Negotiation, and
Duration of Negotiability; Distinction between Negotiation and Assignment; Modes
of Negotiation; Endorsement, and its Kind
Dishonor and Discharge of Negotiable Instruments: Definition, and Meaning of
Dishonor and Discharge; Modes of Dishonor (Non-acceptance and Non-payment);
Discharge of the Instruments and the Parties; Modes of Negotiation
Banker and Customer Relation (Legal): Definition, and Meaning of Banker and
Customer
Crossing of Cheques, and its Types; Bouncing of Cheques (Provisions from Banking
Law / Circulars)

Recommended Books:
1. Mercantile Law - Bare Acts Latest Edition
2. Mercantile Law by M. C. Kuchhal Latest Edition
3. Mercantile Law by M. C. Shukla Latest Edition
4. Saeed, Khawaja Amjad, Mercantile and Industrial Laws in Pakistan, Institute of
Business Manageent, Lahore Latest Edition
5. Mercantile Law by Luqman Baig Latest Edition
6. Business Law by Khalid Mehmood Cheema, Sayed Mobin Mahmud & Co.
Lahore Latest Edition
7. Business Law By Nazir A. Sheikh Latest Edition
8. Internet source: [Link]
40
 INTRODUCTION TO Credit
Course 3
BUSINESS FINANCE Hours
Pre-
NONE Semester III
Requisite
This course is intended to create/produce:
an understanding of an integrated perspective for the inter-relation
between financial markets, financial institutions and management
an understanding about the use/scope of Finance, Financial
Objectives Management, and Financial Management Decision Making
Techniques
Competence about the latest approaches/tools to critically examine
and measure the performance of business concerns
Skills to solve investment and financial problems in the light of
specified goals of the firm

COURSE OUTLINE
1. INTRODUCTION TO FINANCE

Meanings of Finance and Financial Management; Career opportunities in finance;

Forms of business organization; Goals of the corporation; Agency relationships.
Financial Statements: Balance sheet; Income statement; Statement of cash flows (IAS
7); Accounting income vs. cash flow; Personal taxes; Corporate taxes
Analysis of Financial Statements and their Use: Ratio analysis; Du Pont system;
Effects of improving ratios; Limitations of ratio analysis; Qualitative factors;
Forecasting Techniques: Forecasting sales; Projecting the assets needed to support
sales; Projecting internally generated funds; Projecting outside funds needed;
Deciding how to raise funds; Seeing the effects of a plan on ratios
Efficient Market Hypothesis and its Implication

2. TIME VALUE OF MONEY

The Role of Time Value in Finance; Time Value w.r.t. Single Amounts (Future Value
and Present Value) including Simple Interest Mechanism and Compound Interest
Mechanism
Time Value w.r.t. Compact Stream of Cash Flows i.e. Annuities (Future Value and
Present Value) including Ordinary/Simple Annuity, Annuity Due/Outstanding, and
Perpetuity
Time Value w.r.t. Mixed Stream of Cash Flows (Future Value and Present Value);
41
 Practical Implication of Time Value of Money covering Intra-year Compounding;
Nominal Vs Effective Rate of Interest; Continuous Compounding; Funds
Accumulation through Regular Deposits; Loan Amortization; Finding Interest /
Growth Rates.

3. FINANCIAL ASSETS / SECURITIES, AND THEIR VALUATION

Meaning and Understanding about Financial Assets; Primary Features of Financial

Assets; Basic Model (Formula) / Mechanics of Valuing a Financial Asset / Security;
Fundamentals of Interest Rate including Interest Rate, Required Rate (of Return),
Inflation, Real Vs Nominal Rate of Interest (Return)
Term Structure of Interest Rates including Yield Curve and its Dimensions, and Yield
to Maturity (YTM)
Risk and Risk Premium; Major Types of Risk w.r.t. Debt-specific Risk Premium
Components (Issuer- & Issuer-related); Default, Maturity, Contractual Provision
Corporate Bonds; Nature, Definition, Features and Components, Cost of Bonds to the
Issuer, Valuation of a Bond (Pricing of a Bond) – Model and
Sensitivity Analysis (Price Changes); Common Types of Bonds, and their respective
Features;
Stocks, and Equity; Nature, Definition, Features and Components; Debt Vs Equity;
Common Stock Vs Preferred Stock; Preferred Stock Valuation; Authorized /
Registered Capital; Issued, Subscribed and Paid-up Capital; Classification of
Preferred Stock; Concept, and Process of IPO w.r.t. Pakistan
Efficient Market Hypothesis, and Market Efficiency; Basic Model for Common
Stock Valuation; Major Types of Valuation Models for Common Stock including
Zero-growth Model, Constant-growth Model, Variable-growth Model
Other Approached of Valuation for Common Stock including Book Value,
Liquidation Value, Price/Earnings Multiples

4. CAPITAL INVESTMENT, ITS VALUATION, AND INVESTMENT

DECISION MAKING

Capital: Sources of Capital and Cost of Capital, and Determination of the Cost of
Capital, Optimal Mix of Capital Sources
Meanings, and Nature of Investment (Relevant Assets), Meanings of Capital
Budgeting, Fundamentals of Capital Budgeting including Motives for capital
expenditure, Process of capital budgeting
Basic Terminology covering Independent Projects versus Mutually Exclusive
Projects, Unlimited Funds versus Capital Rating, Accept-Reject versus Capital
Rationing, Accept-Reject versus Ranking Approaches
42
 Overview of Capital Budgeting Techniques: (1) Payback Period 1st Technique,
Decision Criteria, Pros and Cons of Payback Analysis; (2) Net
Present Value (NPV) 2nd Technique, NPV and Profitability Index, NPV and
Economic Value Added; (3) Internal Rate of Return (IRR) 3rd Technique,
Calculating the IRR through Interpolation
Comparing NPV and IRR Techniques: (1) Net Present Value Profiles, and
(2) Conflicting Rankings including Reinvestment Assumptions, Timing of the cash
flow, Magnitude of the Initial Investment.

5. CAPITAL BUDGETING CASH FLOWS

Capital Budgeting Process: An overview and Understanding

Relevant Cash Flows:
o Major Cash Flow Components
o Expansion VS Replacement Decisions
o Sunk Costs and Opportunity Costs

Finding the Initial Investment: o

Installed Cost of New Asset
o After-tax Proceeds from Sale of Old Assets o
Change in Net Working Capital
o Calculating the Initial Investment
Finding the Operating Cash Flows o
After-tax Meanings and Use
o Estimating Project “After Tax Incremental Operating Cash Flows”
Finding the Terminal Cash Flows
o Proceeds from Sale of Assets
o Taxes on Sale of Assets
o Change in Net Working Capital
Project Evaluation & Selection: Alternative Methods
o Project Monitoring: Progress Reviews & Post Completion Audits
o The Problem of Project Risk
o Total Project Risk
o Contribution to Total Firm Risk: Firm Portfolio Approach
o Managerial Options

Recommended Texts:
1. Principles of Managerial Finance by Lawrence J. Gitman Latest Edition
2. Fundamentals of Finance by Van Horne Latest Edition
3. Melicher, W.R & Norton, A.E, (Latest Edition), Finance, John Wiley and
Sons, Inc.
4. Peirson, Grahem & Brown, Rob (Latest Edition), Business Finance,
McGraw-Hill, Sydney.
5. Block, Stanely B. & Hirt, Geoffroy A, (Latest Edition)

43
 Credit
Course ECONOMIC ISSUES OF PAKISTAN Hours
3
Pre-
Micro Economics and Macro Economics Semester III
Requisite
This course has been designed to:
Enable the students understand and comprehend the real life
issues of the Economy of Pakistan
Enable the students to have an insight into the policies of the
Government of Pakistan, and the State Bank of Pakistan
Objectives along with Ministry of Finance
Enable the students go through the data available in the
latest Economic Survey of Pakistan and the federal
government’s Budget documents, and to relate it to the
economic and social indicators of industrially Developed
Economies and the SAARC countries

COURSE OUTLINE
1. ECONOMIC DEVELOPMENT

Meaning of Economic Growth and Development, and the Difference;

Significance of Development Economics; Factors of Economic Development
(General); Factors of Economic Development w.r.t to Pakistan; Various Measures
/ Strategies to enhance Economic Growth;

2. AGRICULTURAL ISSUES:

Food security; Productivity of Land; Non-Farm employment Opportunities;

Forest and Water Management; Price Support Policy; Agricultural Inputs and
their impact on Cost of Production

3. INDUSTRIAL ISSUES:

Large Scale; SME and Cottage Industry; Export Industry vs Import Substitution;
Public-Private partnership; Industrial Policy

4. OTHER VITAL CHALENGES / ISSUES OF THE ECONOMY:

a) Minerals and Mining;
b) Energy Resources;
c) Transport: Issues - Air, Railways; Roads; Sea; Farms to Market Roads;
Communication;

44
 d) Education and Skill Development: Issues; Basic Education; Vocational and
Technical; Higher Education;
e) Health: Issues in Health Sector; Environmental pollution and Human
Health; Housing: Issues and Remedies
f) Poverty: Definitions; measurement and alleviation strategies; HDI (Human
Development Index)
g) Energy Crisis in Pakistan: Current Scenario; Energy as a Backbone of an
Economy (Real Market); Causes of Energy Fiasco (Historical and Political
Perspective); Measures to Improve

5. FOREIGN TRADE:

Foreign Trade and Balance of payments: Exports; Imports; Direction of Trade;

Classification of Imports and Exports; Terms of trade; Rectification of BOP;
Bilateral and Multi-lateral Trade

6. MAJOR MACRO ECONOMIC ISSUES AND POLICIES:

a) Federal Budget and Fiscal Policy
b) Public Debt (External) and Debt Management Strategies of Pakistan
c) Monetary Policy and Inflation

7. OTHER CONTEMPORARY ISSUES OF PAK ECONOMY

a) Terrorism, and Terrorism Financing,
b) Money Laundering
c) Brain Drain
d) Trade Policies
e) Services Industry
f) Higher Education
g) Energy Crises
h) Governance and Accountability etc.

8. INTERNATIONAL SCENARIO:
a) WTO and Pakistan
b) SAFTA and Regional Cooperation
c) Role of Direct Foreign Investment in Economic Growth of Pakistan
d) International Financial and Economic System and its Implications for Pakistan
Recommended Books:
1. Economic Survey of Pakistan (Latest). Ministry of Finance, Government of
Pakistan, Islamabad
2. Pakistan Golf and Economist (The Economist)
3. Daily Business Recorder
4. Daily The Dawn Editorial and Business Sections

45
5. Federal Bureau of Statistics (Statistical Survey)
6. Zaidi, Akbar, Issues in Pakistan’s Economy. Oxford University Press,
Karachi
7. Husain Akmal, Dr. and Others. Pro-Poor Growth and Governance in South
Asian Economies.
8. Hussain, Dr. Ishrat. Pakistan: The Economy of an Elitist State. Oxford
University Press, Karachi
9. Kardar, Shahid. Political Economy of Pakistan. Progressive Publishers,
Lahore
10. Saeed, Khawaja Amjad, the Economy of Pakistan, Karachi: Oxford
University Press, Latest Edition.
11. Khan, Shahrukh R., 50 Years of Pakistan’s Economy Traditional Topics and
Contemporary Concerns. Oxford University Press, Karachi, Latest Edition.
12. Chaudhary M. Aslam and Ahmad Eatzaz: Globalization, WTO and Trade
Liberalization in Pakistan, Feroze Sons, Lahore, Latest Edition.

Reference Books:
1. Nasim Anjum (ed.) Financing the Development Priorities of Pakistan in
1990’s. LUMS, Lahore
2. Poverty Alleviation Strategies of Government of Pakistan, Government of
Pakistan, Islamabad - Latest Edition
3. Reports of State Bank of Pakistan. State Bank of Pakistan Publications,
Karachi
4. Reports of Statistical Division of Pakistan. Government of Pakistan,
Islamabad
5. Sen, Amratia. Poverty and Famine. McMillan Publications - Latest Edition
6. Yearly World bank Reports (Latest Edition). Oxford University Press,
Washington D.C.

46
 COURSE OUTLINE

Course Code Credit

BUSINESS PSYCHOLOGY 2
Hours
Pre-Requisite NONE Semester III
▪ To equip the student with latest techniques of psychology
▪ To introduce the basic psychological aspects to the students
Objectives
▪ To evaluate new claims about psychology by knowing
psychological facts and standards for scientific evidence

OUTLINE

1. PSYCHOLOGISTS AT WORK:

Meanings, Use/Scope of Psychology; Subfields of Psychology; Working at

Psychology; Exploring Diversity; Becoming an Informed Consumer of
Psychology

4. SENSING THE WORLD AROUND US:

Illuminating the Structure of the Eye; Colour Vision and Colour Blindness

5. PERCEPTUAL ORGANIZATION :

The Gestalt Laws of Organization; Feature Analysis; Top-Down and

Bottom-Up Processing; Perceptual Constancy; Depth and Motion
Perception, perceptual illusions and subliminal perception

8. LEARNING:

Classical Conditioning; Operant Conditioning; Cognitive-Social

Approaches to Learning
9. MEMORY:

Encoding, Storage, and Retrieval of Memory; Recalling Long-Term

Memories; Forgetting: When Memory Fails
10. COGNITION AND LANGUAGE :
Thinking and Reasoning; Problem Solving; Language

47
11. INTELLIGENCE:
What Is Intelligence? And Variations in Intellectual Ability
12. MOTIVATION AND EMOTION:

Explaining Motivation; Human Needs and Motivation: Eat, Drink, and Be

Daring; Understanding Emotional Experiences; Nonverbal Behaviour and the
Expression of Emotions
13. SOCIAL PSYCHOLOGY:

Attitudes and Social Cognition; Social Influence; Prejudice and

Discrimination; Positive and Negative Social Behaviour
14. ORGANIZATIONAL BEHAVIOUR:
1. Environmental and Organizational Context
2. Introduction to Organizational Behavior
3. Environmental Context: Information Technology & Globalization
4. Organizational Context: Design and Culture
5. Cognitive Process of Organizational Behavior
6. Perception and Attribution
7. Personality and Attitudes
8. Motivational Needs and Processes
9. Dynamics of Organizational Behavior
10. Communication
11. Decision Making
12. Stress and Conflict
13. Power and Politics
14. Building Teams---- Group Dynamics and Teamwork
15. Valuing Diversity------ Individual Differences
16. Managing and Leading for Higher Performance
17. Managing Performance through Job Design and Goal Setting
18. Behavioral Performance Management
19. Effective Leadership Processes
20. Great Leaders: Styles, Activities and Skills
Recommended Text:
1. Robbins P. Stephen. (Latest), Organizational Behavior, Latest Edition,
Prentice Hall
2. Luthans Fred., Organizational Behavior, Latest Edition, McGraw-Hill.
3. Feldman, Robert S, Understanding Psychology, Latest Edition. McGraw Hill,
Boston
4. John R. Schermerhorn, (Latest), Management and Organizational Behavior
Essentials, Wiley & Sons.

48
 TECHNICAL WRITING AND Credit 3
Course
PRESENTATION SKILLS Hours
Functional English and
Pre-requisite Semester III
Business Communication
This course is intended to create/produce:
an understanding about Technical Writing
Objectives
an understanding Communication Skills and practice of the
same

COURSE OUTLINE
1. Introduction to Technical Writing and its Contingent Errors

Meanings of Technical Writing; Writing Memos (Memorandum); Writing a

long and a short report; News Releases and Company Policies; Editing for
errors in sentence construction (Articles, parts of speech, dangling parts etc.;
Identifying Articles, and Parts of Speech, and their Correct Use

2. Dialogue Writing and Role-Plays (Foreword to Uninhibited

Presentations)
Everyday situations contextualized with colloquial communication; Basic
Principles of Business Communication including 7 Cs of Effective;
Communication; Dialogue writing and Role Plays in Daily and Business
Situations
3. Précis Writing and Authentic Summarization

Meanings and Important points of Paragraphs; Identifying thesis statement;

Identifying evidence and biases; Writing an effective précis
4. Comprehension Skills
Introduction; General Features and Components of a Comprehension
Passage; General Classification of Passages (discursive, persuasive, narrative
etc.; Attempting comprehension questions; Making accurate inferences
5. Creative Writing and Effective Brainstorming
Defining and understanding Creative Writing; The Need Use and Significance of
Creative Writing in Publications; How to effectively convey the imaginative ideas
in coherent writing
6. Presentation Skills and Body Language

Personality Development (emphasis on content, style and pronunciation);

Professional presentations; Using presentation software tools; Delivering short
addresses / speeches; Extempore speech; Technical communication; Handling
49
 telephonic and email communication; Interviewing Skills; Group discussions;
Communication through role-playing; Updating Knowledge Power; Utilizing
Library Sources for Presentation Knowledge Power
7. Feedback and Reflection
Assessment of Students Learning through revision exercises; Feedback by
students on their constructive learning of the course; Reflection for future pursuits
8. Essay writing
Descriptive, narrative, discursive, and argumentative
9. Academic writing

How to write a proposal for research paper/term paper; How to write a research
paper/term paper (emphasis on style, content, language, form, clarity,
consistency); Circulars and S.R.O. by the Government and Regulatory Institutions
10. Technical Report writing
11. Progress Report writing

Note: Extensive reading of Business–related Sections Newspapers is

required for vocabulary building
Recommended books:
Technical Writing and Presentation Skills
a) Essay Writing and Academic Writing

1. Writing. Advanced by Ron White. Oxford Supplementary Skills.

Latest Impression / Edition. ISBN 0 19 435407 3 (particularly
suitable for discursive, descriptive, argumentative and report
writing).

2. College Writing Skills by John Langan. McGraw-Hill Higher

Education – Latest Edition.
3. Excellence in Business Communication by Join V Thill
Courtland L Bove’s published by Prentice-Hall International
Inc.
4. Oxford English for Undergraduates by D.H. Howe, T.A.
Kirkpatrick, D.L., Kirkpatrick published by Oxford University
Press
5. Patterns of College Writing (Latest Edition) by Laurie G.
Kirszner and Stephen R. Mandell. St. Martin’s Press.
b) Presentation Skills
c) Reading
50
The Mercury Reader. A Custom Publication. Compiled by
northern Illinois University. General Latest Editors: Janice
Neulib; Kathleen Shine Cain; Stephen Ruffus and Maurice
Scharton. (A reader which will give students exposure to the
best of twentieth century literature, without taxing the taste of
engineering students).

51
 Credit
Course ADVANCED ACCOUNTING - II Hours
3
Pre-
Advanced Accounting-I Semester IV
Requisite
This course is designed to serve the needs of Modern
Accounting Principles, Procedures and Methods that are
applied in preparation and presentation of financial
statements, and the proper uses that can be made of
financial data.
This course will have different relationships with the
requirements of the various Professional Accountancy
Objectives
Bodies like ICAP, ICMAP, PIPFA and other significant
universities in Pakistan.
This course will enable students learn some advanced
Accounting Treatments and Techniques pertaining to
Corporate Sector including Banking Corporations and
Specialized Ventures/Mechanisms including Construction
Contracts and Leases
COURSE OUTLINE
1. IASB FRAMEWORK, IFRS / IAS AND THEIR APPLICATION IN
PAKISTAN

The IASB’s framework and objectives of financial statements; International

financial reporting standards (IFRS 1 First-Time Adoption on International
Financial Reporting Standard) and related information; Format of Income
statement; Reporting Irregular issues; and Special Reporting issues

2. COMPANY FINAL ACCOUNTS, AND SPECIAL TREATMENTS

Completion of accounting cycle – Process; Year-end Adjustments, and their

Treatment in the Financial Statements; Closing Entries; Components
of Financial Statements; Preparation and Presentation of Income Statement and
Balance Sheet; 4th Schedule (Listed Companies) of Companies Ordinance 1984;
Relevant Provisions pertaining to Accounting, Reporting and Audit; 5th Schedule
(Non-listed Companies).
3. CASH FLOW STATEMENT, AND STATEMENT OF CHANGES IN
EQUITY, AND NOTES

Comprehensive Analysis of IAS – 7; Major Segments / Components of a Cash

Flow Statement; Preparation and Presentation of a Cash Flow Statement as per
IAS using both Direct and Indirect Method; Rigorous Analysis of a Cash Flow
52
 Statement from the Financial Statements of a Listed Company; Meanings and Use
of a Statement of Changes in Equity; Major Segments / Components of the
Statement of Changes in Equity; Rigorous Analysis of the Statement of Changes
in Equity from the Financial Statements of a Listed Company; Nature, Meaning
and Use of Notes to the Financial Statements

4. ANALYSIS OF FINANCIAL STATEMENTS (RATIO ANALYSIS)

Meanings of Analysis of Financial Statements; Major Classification of Analysis

of Financial Statements Technical VS Financial Analysis; Dimensions of
Financial Analysis of Financial Statements;
Profitability Liquidity
Solvency / Debt Activity
Market

Calculating and Interpreting Ratios on the Data extracted from the Financial
Statements of a Listed Company

5. PARTNERSHIP ACCOUNTING
(Selected Topics-Capital, Retirement, Death & Dissolution)

Briefing about previous Topics covered in Advanced Accounting-I; Fixed and

Fluctuating Capital; Retirement of a Partner, and its Accounting; Death of a
Partner, and its Accounting; Dissolution of Partnership, and its Accounting

6. BASIC UNDERSTANDING ABOUT FINANCIAL

STATEMENTS (REPORTING) OF A BANKING COMPANY

Reporting Framework of a Banking Company; Role of SBP in the Financial

Reporting Framework of a Banking Company; Basic Know-how of Financial
Statements of a Banking Company by use of an Annual Report of a Listed
Commercial Bank

7. LONG TERM LIABILITIES

Nature, and Definition/Meaning of Long-term Liabilities; Nature and

Forms/Classes of Long-term Liabilities; Description of Formal Procedure
associated with the Issuance of Long-term Debts; Issue of Bonds at Par, Discount
and Premium, and Associated Accounting; Amortization of Discount and
Premium; Preparation of Loan Amortization Schedule; Journal Entries for Bonds,
Long-term Notes and Bonds Payable; Determining Periodic Interest Expense, and
its Reporting in Income Statement; Presentation (Reporting) in Financial
Statements

8. CONSTRUCTION CONTRACTS (w.r.t. IAS-11)

53
 Scope, and Definitions; Contract Revenue and Contract Costs; Recognition of
Contract Revenue and Costs; Recognition of Expected Losses; Changes in
Estimates; and Disclosure Requirements; Practical/Numerical Illustrations to
understand all the necessary provisions associated.
9. LEASES (w.r.t. IAS-17)

Scope, and Definitions; Classification of Leases; Accounting Treatments in the

Books of Lessor and Lessee; Disclosure Requirement; Practical/Numerical
Illustrations to understand all the necessary provisions associated.
Recommended Books:
1. International Financial Reporting Standards (IFRS) and International Accounting
Standards (IAS) Latest Edition by ICAP
2. Kieso, Weygandt, and Warfield, Intermediate Accounting, Latest Edition Wiley
higher education.

3. An Insight into IFRS by Mohyuddin Tahir Latest Edition

4. Javed H. Zuberi , “Advanced Accounting”, Latest Edition, Petiwala Book
Depot.
5. Mukherjee A. Hanif, “Modern Accountancy”, Volume I-II. Latest Edition

Reference Books:
1. Gateway to IFRS Latest Edition
2. Past Papers by ICAP, ICMAP and PIPFA covering above-cited Topics.
3. Gupta, R.L. & Swamy, M. Radha, “Advanced Accounting”, Latest Edition,
Sultan Chand & Sons
4. Shukla M.C & Grewal, T. S , “Advanced Accounts” Volume 1 and 2, Latest
Edition. Sultan Chand & Sons.

54
 Credit
Course PRINCIPLES OF MANAGEMET Hours
3
Pre-
NONE Semester IV
Requisite
This course is intended to:
Expose students to the theories of management,
organizational theory, and the practice of management in
contemporary organizations from a conceptual, analytical,
and pragmatic perspective.
Objectives Allow students to develop their own framework for analyzing
and understanding management as well as exploring and
developing their own personal philosophy of management.
Communicate effectively, develop people, solve problems
and making decisions, organize themselves and also would
be able to work in team.

COURSE OUTLINE
1. INTRODUCTION TO MANAGEMENT: CONCEPTS AND
THEORIES / EVOLUTION

Basic Concepts and Definitions: Efficiency, Effectiveness, Skills, Roles etc.;

Foundation of Management Thinking and Evolution: Various Schools of
Thought
2. ENVIRONMENTAL SCANNING AND CONSIDERATIONS
Environment, National Culture and Management Practices
3. MANAGEMENT FUNCTIONS: PLANNING, AND ORGANIZING
Planning and Planning Tools/Techniques; Strategic Management Process;
The Escalation of Commitment: Step Toward an Organizational theory;
Decision Making; Organizational Structure, and Culture; Human Resource
Management; Change Management
4. MANAGEMENT FUNCTIONS: LEADING AND CONTROLLING
Motivation: Concept, Use and associated Theories; Leadership & Leader’s styles:
Concept, Use and associated Theories; Team and Teamwork Management;
Management Skills and Competencies; Managing Organizational Conflict,
Politics and Negotiation; Controlling – Meaning, Components/Process and
Classification.
5. CONTEMPORARY MANAGEMENT FUNCTIONS / ISSUES /
CHALLENGES
Communicating effectively; Technology, The market, Competition and the
55
 External environment; Internationalization and Globalization; Entrepreneurship;
Stress Management; Professional Ethics and Social Responsibility including
CSR; Corporate Governance and Due Diligence; New Management Paradigms
Role of Accountants in Management Process especially in Decision-making;
Recommended Books:
1. Robbins, Coulter, Langton, Management, Latest Edition
2. Koontz O, Donnel. Management, Latest Edition
3. Introduction to Management by John R. Schermerhorn and John Wiley & Sons,
Inc., UK
4. Accountants in Business F1 Paper of ACCA.

Reference Books:
1. Mejia, Balkin, Cardy., Management, Latest Edition, McGraw-Hill.
2. Morden Tony, Principles of Management, Latest Edition, Ashgate.
3. Bateman, Snell. Management Competing in new era, Latest Edition, McGraw-
Hill.
4. Smith & Hitt A. Michael, Great Minds in Management (The Process of Theory
Development), Oxford University Press.
Management by James A.F. Stoner, R. Edward Daniel R. Gilbert

56
 Credit
Course COST ACCOUNTING Hours
3
Pre- Principles of Accounting, and Financial
Semester IV
Requisite Accounting
This course will enable students:
Understand Cost Concepts, Objectives, Scope, Cost Flow
and Classification, Cost Behavior and other associated
Concepts
Objectives
Understand and explain Material, Labor, Factory Overhead
Costing and Control,
Accounting for Joint- and By-Products
Prepare Job-order Cost Sheet and Cost of Production Report

COURSE OUTLINE
1. CONCEPTS, AND SCOPE OF COST ACCOUNTING:
Definition and concept of cost, Cost object, Cost elements, Sources and uses
of cost data, Cost accounting v / s financial accounting, Costing department
and its relationship with other departments, Role of cost accounting in a
management information system, Uses of cost data.

2. COST CLASSIFICATION, AND FLOWS:

Direct and Indirect cost, Product and Period cost, Controllable and
Uncontrollable cost, Cost Behavior, Fixed and Variable cost, Semi-variable
and Step Fixed Cost, Cost Accounting Cycle/Flow, Chart of account and
coding for costing, Statement of Cost of Goods manufactured and sold.

3. MATERIAL COSTING AND CONTROL:

Procedure of material procurement, application of IAS-2. Two-bin system,
The use of FIFO, and Weighted Average for Material Valuation and the
pricing for material issue, Stock taking periodic and perpetual inventory,
Treatment of differences between physical and book stock, Economic order
quantity, Effect of quantity discount on EOQ, Reorder level, safety stock and
maximum stock, ABC Control.
4. LABOUR COSTING AND CONTROL:

Objectives of payroll accounting. Calculations and recording of payroll,

payroll taxes and deductions. Direct and Indirect Labour, Productivity and
efficiency, Remuneration methods, Straight piece rate and differential piece
rate, Incentive wage plan, Group bonus, Time sheet and job cards, Overtime
and idle time; Labour turnover rate.

57
5. FACTORY OVERHEAD COSTING AND CONTROL:
Classification and collection of overhead, Predetermined overhead applied
rate, Factory overhead cost: planned, applied and actual, Over and under
applied factory overhead' and its disposal, Departmentalization of overhead,
Allocation, apportionment and reapportionment of overhead costs, Repeated
Distribution and Algebraic Method for reciprocal, service department costs.
6. TYPES OF COSTING SYSTEMS:
Establishment of cost accounting system, Integrated cost accounts,
Introduction to process costing, Incomplete process and concept of equivalent
units, Format of Process Account and Format of ‘Cost of Production’ Report,
Job-order Costing, Costing for Joint- and By-products, Operation I service
costing.
Recommended Book:

1. Cost Accounting by Arshad Awan, Kitab Markaz Faissalabd.

2. Cost Accounting by F. Usry, H. Hammer & Adolph Matz
3. Cost and Management Accounting Latest Edition by Collin Drury
4. Cost Accounting for CA Intermediate Stage student-Latest Edition by PBP
(Professional business Publications)
Reference Books:
1. Costing Latest Edition by Emile Woolf
2. Cost Accounting by T. Lucy DP Publications, Aldyne Place 142-144
Uxbridge Road, Shepherds Bush Green, London W128AW
3. General Journals/Periodicals: Journal of Management Accounting, ICMAP

58
ACCOUNTING INFORMATION SYSTEM

Course Contents:
1. Overview of Accounting Systems.

Introduction of Accounting Information Systems.

Cornerstones of Accounting Information Systems.

2. Organizations

o Organization with Dominant Flow of Goods

o Organizations without Dominant Flow of Goods

3. Contingency Approaches to Accounting Information Systems.

4. Information and Communication Technology and related

Administrative Concepts.

5. The Dynamics of Internal Control and ICT.

6. Bridging the Gap between Internal Control and Management Control.

7. The Integrative Role of the Accounting Information System

o Managing Contemporary Organization.

8. Communication of Accounting Information System.

o Perform simple file maintenance on chart of accounts.

9. Computerized Accounting System.

10. Accounting Reports

o Print the trial balance, income statement, balance sheet and other

reports of accounts, receivable and payable, Use the reporting

capabilities of the

11. Software package.

o Prepare all financial reports, subsidiary reports and custom reports

contained within the

o Use of Accounting software package i.e Peachtree and Quick-Books.

RECOMMENDED BOOKS:

59
1. Accounting Information Systems: A Managerial Approach by Addy Vaassen, Wiley
Publications.

2. Financial Accounting By Larson (Ed. 15 2000).

3. Accounting Software With Database , Sage.

4. Management Information System, PB publications.

5. Information Technology for Module-D of Chartered Accountancy, PBP

Publications.
6. Computer tools for information age, Prentice Hall Publishers, Latest Edition.

60
 Credit
Course INTRODUCTION TO SOCIOLOGY Hours
3
Pre-
NONE Semester IV
Requisite
This course has been formulated to:
Build a confidence for Social Interaction and Relationship
Objectives
Learn how they behave in Social Groups, Community, Social
Institutions and with different Personalities.

COURSE OUTLINE
1. INTRODUCTION

Basics:
Nature, scope and subject matter of Sociology; Brief historical development
of Sociology; Introduction to Qura’nic Sociology; Society and community;
Relationship with other social Sciences
Evolution and Recent Thoughts:
Social Interaction Processes: The study of social life; Exploring the global
village; Sociology as a science; The Sociological imagination; The
development of Sociology; Pioneers of Sociology

2. SOCIAL GROUPS AND INSTITUTIONS

Groups:
Definition and functions; Types of social groups
Institutions:
Definition; Structure and function of social institutions; Inter-relationships
among various social institutions

3. CULTURE, SOCIALIZATION, SOCIAL CONTROL AND

STRATIFICATION

Culture and related concepts

Meaning/Definition and aspects of culture; Elements of culture; Organization of
culture; Other concepts, cultural relativism, sub cultures, ethnocentrism, cultural
lag
Socialization and personality
Role and status; Socialization; Culture and personality
Deviance and social control
Definition and types of deviance; Juvenile delinquency; Formal and Informal
method of social control
61
 Social stratification
Approach to study social stratification; Caste class and race as basics of social
stratification

4. SOCIAL MOVEMENT, SOCIAL & CULTURAL CHANGE

Concept of social movement
Definition; Theories of social movement; Social and cultural change; Collective
behavior; Characteristics; Causes; Types; Social movements; Mob and crowd
behavior
Social and cultural change
Definition of social change; Dynamics of social change; Impact of globalization
on society and culture; Resistance to Change

Recommended Texts:
1. Horton and Hungt, Sociology, Latest Edition, McGraw Hill
2. Tischler, Hnry L, Introduction to Sociology, Latest Edition, Horcourt
3. Macionis, John J and Plummer, Ken, Sociology, A Global International, Latest
Edition, Prentice Hall.

Pre-Note:
The University will opt either:
(1) English-IV (any appropriate course as per their discretion) or
(2) Information Technology in Business

62
 Credit
Course INFERENTIAL STATISTICS Hours
3
Pre-
NONE Semester IV
Requisite
This course will enable students:
Understand the terminology related to Inferential Statistics, and
to understand the role of sampling theory in estimation of
population parameters and testing of hypotheses concerning
parameters.
of population Parameters on the basis of a sample.
Objectives
Develop an understanding about the set of rules that lead to
a decision culminating in the acceptance or rejection of some
statement or hypothesis about the population.
Provide with the necessary skills and competencies in using
computer statistical package to assist in performing different
inferential procedures required in a statistical analysis
through practical application.

COURSE OUTLINE

1. REVIEW OF SAMPLING THEORY, SAMPLING DISTRIBUTIONS

AND DATA DESCRIPTIONS:

Introduction to Sampling Theory; Types of Sampling; Random Sampling;

Some Important Statistics; Data Displays and Graphical Methods; Sampling
Error; Sampling Distribution of Sample Means and Variance; Properties of
Sampling Distribution of Sample Means; Uses of Central Limit Theorem;
Uses of the Sampling Distribution of the Sample Mean; Sampling Distribution
of Sample Proportion; Properties and Application; Software commands

2. ONE AND TWO SAMPLE ESTIMATION PROBLEMS

Introduction to Statistical Inference; Branches of Statistical Inference

(Estimation and Testing of Hypothesis); Need and Significance of
Estimation and Type of Estimation (Point and Interval Estimation);
Confidence Interval Estimation for single population Mean; Confidence
Interval estimation for two population Means; Standard Error of a Point
Estimate; Prediction Interval; Tolerance Limits; Interval Estimation for
single population Proportion; Interval estimation for two population
Proportions; Finite Population Correction Factor; Deciding the Sample
Size; Software Commands.
3. TESTING OF HYPOTHESIS

Introduction; Various types of Statistical Hypotheses; Type-I Error, Type-II Error;

63
 Probability of Type-I Error; One Tailed and Two Tailed Tests of Significance;
Level of Significance and Concept of P-value; General Procedure for Testing
Hypothesis
One-Sample Tests of Significance
Assumptions; Tests of Significance for Population Mean, Proportion and
Variance; Testing Statistical Hypotheses; One Tailed and two
tailed Tests of significances; The use of P-Values for Decision Making in Testing
Hypotheses; Single Sample: Tests Concerning a single Mean (Variance Known);
Relationship to Confidence Interval Estimation; Single Sample: Tests on a single
Mean (Variance Unknown); Choice of Sample Size for Testing Means; One
Sample: Test on a Single Proportion; One Sample Test concerning Variances;
Goodness-of-Fit Test; Test for Independence (Categorical Data); Software
Commands
Two-Sample Tests of Significance
Assumptions; Statistical Hypotheses; Testing a Statistical Hypotheses; Two Tailed
Tests; The use of P-Values for Decision Making in Testing Hypotheses; Two
Samples: Test on two Means; Relationship to Confidence Interval Estimation;
Choice of Sample Size for Testing Means; Tests of Significance for Two
Population Means under various assumptions; Tests of Significance for Two
Population Proportions under various assumptions; Tests of Significance for Two
Population Variances; Graphical Methods for Comparing Means; Two Samples
Test for population proportions; Two sample Test Concerning Variances;
Goodness-of-Fit Test; Test for Independence (Categorical Data); Test for several
Proportions; Software Commands
4. CHI-SQUARE TESTS:

Tests for Association of Attributes; Chi-Square Procedure; Tests for Goodness of

Fit (Uniform, Binomial, Poisson, Normal Distributions); Chi-Square Independence
Tests
5. ANALYSIS OF VARIANCE:
Introduction; Basic Concept as Testing Equality of More Than Two Means; One-
Way Analysis of Variance; Two-Way Analysis of Variance; ANOVA
Assumptions - One way ANOVA and Two way ANOVA; Inference about Pairs of
treatment means; Software Commands
6. COMPUTER COMPETENCY:
To achieve the practical proficiency, the computer package MINITAB and in some
way the EXCEL will provide the computational assistance.
More importantly, a general overview about SPSS, or any other latest
Software will be provided to students
Recommended Books:
1. Lind, D.A., W.G. Marchal, S.A. Wathen, Latest Edition, “Statistical
Techniques in Business and Economics”.
64
2. Bowen, E.K., and M.K. Starr, Latest Edition, “Basic Statistics Business and
Economics”.
3. Mclave, J.T., Benson P.G. and Snitch, T., Latest Edition, “Statistics for
Business & Economics” Prentice Hall New Jersey.
4. SPSS Software and other Latest Software

Reference Books:
1. Spiegel, M.R., Schiller, J.L. and Sirinivasan, R.L., Latest Edition, “Probability
and Statistics”, Schuams Outlines Series. McGraw Hill. NY.
2. Clark, G.M. and Cooke, D. Latest Edition,, “A Basic Course in Statistics”,
Arnold, London.
3. Walpole, R.E., Myers, R.H. and Myers, S.L., “Probability and Statistics for
Engineers and Scientist” Latest Edition,, Prentice Hall, NY.
4. Weiss, N.A., “Introductory Statistics” Latest Edition, Addison-Wesley Pub.
Company, Inc.
5. Chaudhry, S.M. and Kamal, S. , “Introduction to Statistical Theory” Part I,
II, Latest Edition, Ilmi Kitab Khana, Lahore, Pakistan.

65
 Credit
Course PRINCIPLES OF MARKETING Hours
3
Pre-
NONE Semester V
Requisite
This course is intended to:
Introduce, to students, the key Marketing Ideas and
Phenomena, especially the Core Theme of delivering Benefits
to Customers.
Develop students’ Skills in Marketing Analysis and Planning.
Objectives Familiarize students with the Tactics of the Marketing
(Product
Formulate strategy, advertising and communications
[Promotion], and distribution [Place], and Price - 4P's), and
other 3 Ps of services, and enhance problem solving and
decision making abilities in these areas.
Evaluate the attractiveness of different markets.

COURSE OUTLINE
1. INTRODUCTION TO MARKETING
The Field of Marketing, Basic Concepts of Marketing; Definition and Need
for Marketing as a proper Formal Process; Adapting Marketing Strategy to the
New Economy; Positioning; Marketing as the Driver in the Digital Economy;
Scope of Marketing Today
2. THE MARKETING ENVIRONMENTAL SCANNING

Marketing-oriented Strategic Planning; Scanning the Marketing Environment

– Internal and External; Studying and Analyzing the Needs of all concerned
Stakeholders including PESTEL
3. THE MARKETING RESEARCH

Marketing Research Process, and it’s Use; Marketing information systems;

Identifying Marketing Opportunities
4. CONSUMER BEHAVIOR AND MARKET, AND PRODUCER’S
BEHAVIOR AND MARKETS
Consumer Behavior; Consumer Purchase Decision Process: Influences on
Consumer Behavior; Social Influences
Producer Behavior; Producer Purchase Decision Process
5. MARKETING SEGMENTATION, TARGETING AND POSITIONING

Identifying Marketing Segments, and Selecting Target Markets; Product

Positioning and Differentiating the Marketing Offering
66
 The Product Life Cycle

6. MARKETING MIX FOR GOODS AND SERVICES (7 Ps)

The Marketing Mix
Product; Meaning and Classification of product; Development of New Product;
Determinants of Product Mix; Product Adoption-Diffusion process; Product
Portfolio Classification; Product Deletion Strategy; Packaging.

Price; Nature and importance of pricing; Pricing objectives; Factors influencing

pricing decision; Developing Price Strategies and Programs; Policy of Credit

Promotion Strategy; Role of promotion in business marketing; Developing and

implementing the promotional mix; Advertising, sales promotion and public
relations; Managing the Sales Force
Place; Designing distribution channel; Selecting the type of channel.

People; their Behaviors and Attitudes; People as Contributories/Sellers etc. and

People as Beneficiaries/Buyers etc., Politics in Marketing (Internal and External)

Process; the way/mode services are rendered and received or exchanged;

Differentiating among various Methods of rendering services

Physical Evidence; Artefacts, Norms, Values, Interior, Dress/Uniform, Structure,

Managers’ Appearance etc.

7. MARKETING RETAILING, WHOLESALING AND MARKET

LOGISTICS, AND MARKETING PLAN
Managing Retailing, Wholesaling and Market Logistics; Their Types and
respective Uses; Managing the Total Marketing Effort

Socially Responsible Marketing Communications, Marketing Plan Development

and Analysis

8. MARKETING CHANNELS, SUPPLY CHAIN MANAGEMENT,

ADVERTISING AND PUBLIC RELATIONS
Supply Chain: Nature, Need and Use

Marketing Channels: Nature, Need, Types and Use/Importance

Advertising: Objectives, Budgets and Strategy.
Public Relations: Role and Impact, and Major Tools

9. PERSONAL SELLING, DIRECT MARKETING, ONLINE MARKETING /

E-MARKETING AND SERVICES MARKETING
Personal Selling: Nature, Use/Role and Process; Sales Force Management; Sales
67
 Promotion

Direct Marketing: Nature, Use/Role, Growth, Benefits, and various Forms of

Direct Marketing;

E-Marketing: Nature, Use/Role, Growth, Benefits, and various Forms of E-

Marketing;

Services Marketing: Nature and Scope of Services Marketing including Financial

Services and their Marketing

10. CRAFTING STRATEGIES TO ATTAIN COMPETITIVE EDGE

Competitor Analysis: Identification, Assessment and Selection.

Competitive Strategies: Approaches, Forms, Positioning, Leadership

and Challenge.

11. GLOBAL MARKET PLACE, MARKETING ETHICS AND SOCIAL

RESPONSIBILITY

Global Marketing: Considerations, Forms/Approaches, and Global

Marketing Mix.

Marketing Ethics and Social Responsibility: Meanings and Need/Rationale for

Ethics, Social Criticism, Citizenship in Marketing

Recommended Books:
1. Kotler, Philip. “Marketing Management”. Latest Edition, Prentice Hall.
2. Stanton, Etzel, Walker. Marketing, Latest Edition, McGraw-Hill.
3. Marketing by Evens and Berman
4. Krishnamacharyulu, Ramakrishan. Rural Marketing Text and Cases, Pearson
Education.
5. Harvard Business Review w.r.t. Marketing Periodic for Latest Research and
Development
6. Cases in Marketing by Prof. Dr. Khawaja Amjad Saeed

Reference Books:
1. W. D. Perreault, Jr., J.P Cannon, and E. J. McCarthy, Basic Marketing: A
Marketing Strategy and Planning Approach, Latest Edition, Irwin/McGraw-
Hill.
2. C. H. Mason and W. D. Perreault, Jr. The Marketing Game! Latest Edition,
McGraw-Hill, New York.
3. Kotler, Philip, and Jain C Dipak, Marketing Moves (A New Approach to
Profits, Growth, and Renewal), Harvard Business School Press.

68
 Credit
Course FINANCIAL MANAGEMENT Hours
3
Pre- Introduction to Business Finance
Semester V
Requisite Financial Accounting
This course is intended to:
Equip the students with the latest knowledge of finance
helping them to make rational financial decisions and thereby
Objectives to maximize the wealth of the owners.
Develop understanding of the students in making decisions
relating to special situations such as merger, acquisition etc.
Equip the students with latest tools and techniques in
financial decision-making.

COURSE OUTLINE
1. RISK AND RETURN (REQUIRED RATE)

Risk and Return Fundamentals: Definition, and Meanings; Basic Model; Risk
Preference, Risk Preferences / Behaviors
Risk of a Single Asset: (1) Risk Assessment including Scenario Analysis and
Probability Distribution and (2) Risk Measurement including Standard
Deviation and Coefficient of Variation
Risk of a Portfolio: Portfolio Return and Standard Deviation, Correlation,
Diversification
The Capital Asset Pricing Model (CAPM): (1) Types of risk and (2) The
CAPM Model covering Beta Coefficient, The Equation, The Graph, The
security Market Line (SML) and Shifts in the security Market Line
3. SHORT-TERM FINANCING DECISIONS (Current Assets and Current
Liabilities)
Current Asset Investment Policies
Working Capital Management
o Working Capital Terminologies: Gross VS Net
o Trade-off between Profitability and Risk
Cash Operating / Conversion Cycle
o Calculating Cash Conversion Cycle
o Funding Requirement of the Cash Conversion Cycle
o Cash Management Alternative Strategies
o Cash Budget
Management of Marketable Securities
Inventory Management
69
 o Inventory Levels and Costs
o Common Techniques for managing Inventory
Receivables Management
o Credit Selection and Standards
o Credit Terms and Policy
o Credit Monitoring
Management of Receipts and Disbursements o Float
o Speeding-up Receipts and Slowing-down Payments o Cash
Concentration
o Zero-balance Accounts
Generic Current Assets’ Management
o Financing Current Assets
o Alternative Current Asset Financing Policies
o Advantages and disadvantages of Short Term Financing

Management of Current Liabilities

o Sources of Short Term Financing
o Spontaneous Liabilities
Accounts Payable Management
Accruals
o Unsecured Sources of Short Term Financing
Bank Loans
Commercial Papers
o Secured Sources of Short Term Financing
Accounts Receivables as Collaterals
Inventory as Collateral

4. LEVERAGE, AND CAPITAL STRUCTURE

Leverage:
o Meanings and Use of Leverage
o Breakeven Analysis
o Operating Leverage
o Financing Leverage
Capital Structure:
o Types/Dimensions of Capital
o External Assessment of Capital Structure
o Theory of Capital Structure
o Target/Optimal Capital Structure, and its Determination
o EBIT – EPS Approaches to Capital Structure
o Variations in Capital Structures
o Comparing Alternative Capital Structures
o Capital Structure and Risk
o Value Estimation
70
 o Maximizing Value VS Maximizing EPS

5. PAYOUT POLICY
Basics of Payout Policy
o Elements of Payout Policy
o Trends in Earnings and Dividends
o Trends in Dividends and Repurchase
o Dividends versus Capital Gains
o Dividend Policy Issues
o Dividend Stability
o Establishing the Dividend Policy in Practice
o Dividend Reinvestment Plans
o Factors affecting Dividend Policy
Mechanics of Payout Policy
o Cash Dividend Payment Process in Pakistan (Legal)
o Dividend Warrants
o Share Repurchase/Buyback Procedure in Pakistan (Legal)
o Tax Treatment of Dividends and Repurchase
o Dividend Reinvestment
o Effects of Corporate Payouts on Stock price
Relevance of Payout Policy
o Residual Theory of Dividends
o Dividend Irrelevance Theory
o Other Arguments for Dividend Payout

Factors affecting Dividend Policy

o General, Contractual, Growth, Market and Legal etc.
Classification of Dividend Policies (General and w.r.t. Pakistan)
o Constant Payout Ratio Policy
o Regular Dividend Payout Policy
o Law-Regular-and-Extra Dividend Policy o Stock
Dividends & Stock Splits
o Other Forms/Types of Dividend around the world
6. LONG-TERM DEBT MANAGEMENT

Long-term Debt Considerations o

Standard Debt Provisions o
Restrictive Debt Provisions o Cost
of Long Term Debt
o Characteristics of Term Loan Agreements o
Term Lenders
Corporate Bonds
o Legal Aspects of Corporate Bonds
o General Features of a Bond Issue

71
 o Bond Rating
Preferred Stock
o Basic rights of preferred stockholders
o Features of preferred stock
o Special types of preferred stock
o Advantages & disadvantages of preferred stock
Leases
o Basic types of leases
o Leasing agreements
o The lease contract (IAS 17)
o Lease VS Purchase Decisions
Mergers
o Definition of Mergers
o Motives for Mergers
o Types of Mergers
o Leveraged Buyouts
Convertible Securities
o Types of Convertible Securities
o General Features of Convertible Securities
o Financing with Convertible Securities
Options
o Major Types of Options
o Calls and Puts
o Options Markets and Trading

Recommended Books:
1. Brigham F Eugene, Houston F Joel (Latest edition), Fundamentals of Financial
Management, South Western Publishers, Ohio
2. Lawrence J. Gitman, Latest Edition, ‘Principles of Managerial Finance’
3. Horne Van, Jr. Wackowicz (Latest Edition), Fundamentals of Financial
Management, Apprentice Hall International Inc, New Jersey.
Reference Books:
1. Weston & Brigham: Essentials of Managerial Finance, the Dryden Press.
(Latest Edition)
2. Jr. Scott Martin, Petty J. William (Latest edition), Basic Financial
Management, Apprentice Hall International Inc, New Jersey.

72
 Credit
Course BUSINESS RESEARCH METHODS Hours 3
Pre-
NONE Semester V
Requisite
This course has been intended to:
Meet the challenge of the fast pace decision making
environment;
Acquaint students with Latest Research Methods and
Objectives
Techniques so as to enable them do the same in order to
add value to the existing literature
Provide the knowledge and skills a manager needs to solve
the problems.

COURSE OUTLINE
1. INTRODUCTION TO, AND ROLE OF BUSINESS RESEARCH:

Basic research and applied research; Managerial value of research; Types of

business research; Decision alternatives in research process; Influences of
uncertainty on type of research; Types of business research;
Decision alternatives in research process; Influences of uncertainty on type of
research; Scientific investigation; Hallmarks of scientific investigation; Obstacles
in conducting scientific research

2. THEORY BUILDING:

Concepts and nature of proposition; Practical value of theory; Deduction and

Induction

3. THE RESEARCH PROCESS:

Problem discovery and definition; Planning research design; Sampling; Data

collection; Data processing and analysis; Conclusion and report presentation;
Ethical issues in research

4. FORMULATING AND CLARIFYING THE RESEARCH TOPIC:

Attributes of good research topic; Importance of problem definition; Process of

problem definition; Process of problem definition

5. UNDERTAKING RESEARCH:

The Research Proposal

Meanings
Components and Classification
73
 The Research Strategy
Deciding the research approach and choosing a research strategy; Need for a
clearer research strategy; Multi- method approaches; Preliminary data collection;
Literature review; Planning the literature search; Obtaining and evaluating the
literature
Exploratory research and qualitative analysis
Why conduct exploratory research; Categories of exploratory research Focus
group interviews; Projective techniques

Primary Data
Research method for collecting Primary Data; Survey research; Errors in survey
research; Classifying survey research methods; Basic methods for communication
with respondents; Observation methods Experimental research; Basic issues;
Internal and external validity; Types of experimental design and internal validity;
Ethical issues in experimental design; Measurement of variables; Operational
definitions and scales; Measurement: Scaling, reliability, and validity
Secondary data
Objective of secondary data research design; Classification of secondary data;
Determining the research design; Overview of research design; Defining
research question and hypotheses; Defining terms and variables; Identifying
limitations and delimitations
Data Collection Methods
Questionnaire design; Overview of questionnaire designs; Sampling design and
sampling procedures; Determining the sample size; Population distribution, sample
distribution and sampling distribution; Fieldwork; Principles of good interviewing;
Analyzing qualitative data; Overview of qualitative data analysis; Analyzing
qualitative data; Editing and coding data
Research Report
Integral parts of a Research Report; Discussion on Research Projects; Drafting a
Mini Research Report

6. RESEARCH AND ETHICS:

Ethical Issues and their Dimensions in Research; Plagiarism and like-wise

Activities and the Legal Consequences

7. THE USE OF SPSS AND E-views

a. Data Presentation in SPSS, Distributional Characteristics
of data in SPSS
b. One sample ‘T’ test, two sample ‘T’ test, Paired sample
‘T’ test, ANOVA, Post HocTukey Test, Correlation,
Regression and Non parametric Tests.

74
Recommended Books:
1. Zickmund, William G, Business research methods, Latest Edition.
2. Collins Jill & Hussey Roger, Business research, Latest Edition
3. Sekaran Umma, Research Methods for Business/Applied Business Research,
Latest Edition.
4. Business Research Methods by Cooper and Schindler Latest
5. P.P. Arya & Yesh Pal, Research Methodology in Management: Theory and Case
Studies, New Delhi, Latest Edition.
6. Basic Business Research by Umma Sekran Latest Edition

75
 Credit
Course MANAGERIAL ECONOMICS Hours
3
Pre- Micro Economics and
Semester V
Requisite Business Mathematics
This course will:
Enable the students learn to implement the Economic and
Quantitative Techniques in the world of Business and
Objectives Finance
Enable them to make optimal decisions in real life scenario
Enable them to collect, analysis and decipher data in real
life situations

COURSE OUTLINE
1. THE NATURE AND SCOPE OF MANAGERIAL ECONOMICS

The Scope of Managerial Economics, the Theory of the Firm, the Nature and
Function of Profits, Business Ethics, the International Framework of
Managerial Economics, Managerial Economics and the Internet.
2. OPTIMIZATION TECHNIQUES AND NEW MANAGEMENT TOOLS

Methods of Expressing Economics Relationships, Total, Average, and

Marginal Relationships, Optimization Analysis, Differential Calculus; The
Derivative and Rules of Differentiation, Optimization with Calculus,
Multivariate Optimization, Constrained Optimization and unconstrained
Optimization, New management Tools for Optimization
3. DEMAND THEORY

The demand for a commodity, Price Elasticity of Demand, Income Elasticity

of Demand, Cross- Price Elasticity of Demand, Using Elasticity in Managerial
Decision Making.
4. DEMAND ESTIMATION

The Identification Problem, Marketing Research Approaches to Demand

Introduction to Regression Analysis, Simple Regression Analysis Multiple
Regression Analysis, Problems in Regression Analysis, Demand Estimation
by Regression Analysis.
5. DEMAND FORECASTING

Qualitative Forecasts, Time-Series Analysis Smoothing Techniques

Barometric Methods, Economic Models
6. PRODUCTION AND COST ANALYSIS

Production Theory and Estimation, The Production Function with One Variable,
76
 Optimal Use of the Variable Input, The Production function with Two Variable,
Optimal Combination of Inputs
7. COST THEORY AND ESTIMATION

The Nature of Costs, Short-Run cost Functions, Long-Run Cost Curves,

opportunity Costs. Learning Curves Cost-Volume-Profit Analysis and Operating.
8. LINEAR PROGRAMMING

Meaning Assumptions, and Applications of Linear Programming, Some Basic

Linear Programming Concepts, and Procedure used in Formulating and Solving
Linear Programming: Profit Maximization, and Cost Minimization techniques in
linear programming
9. RISK ANALYSIS

Risk and Uncertainty in Managerial Decision, Measuring Risk with Probability

Distributions, Utility Theory and Risk Aversion, Adjusting the Valuation Model of
Risk, Decision Making Under Uncertainty, Foreign-Exchange Risks and Heading
10. STRATEGIC MARKET DECISIONS AND GAME THEORY
The Strategic Decisions and Strategic Market Decisions, The Nature, Use and
Application of Game Theory, Evolution and Development of Game Theory.

Recommended Books:
1. Michael Baye, Managerial Economics Latest edition
2. Dominick Salvatore, Managerial Economics in a Global Economy Latest Edition
3. Petersen H. Craig & Lewis. W. Chris. Managerial Economics. Macmillan
Publishing Company, New York Latest Edition
4. Douglas, Evan J, ‘Managerial Economics Theory’, Practice and Problems: Prentice
hall Inc. New York Latest Edition
5. Sue. Managerial Economics. McGraw-Hill Latest Edition

Reference Books:
1. Thomas, Maurice. Managerial Economics. International Edition Latest Edition
2. Evan [Link] Managerial economics: theory, practice, and problems Latest
Edition
3. Howard Davies, Pun-Lee Lam Managerial Economics: and Analysis of Business
Issues Latest Edition
4. Mark Hirschey Managerial Economics Latest Edition
5. Journals / Periodicals:
6. World Wide Web:

77
 BUSINESS ETHICS AND CORPORATE Credit
Course 3
SOCIAL RESPONSIBILITY (CSR) Hours
Pre-
NONE Semester V
Requisite
The objectives of this course are:
• To sensitize the students to the ethical dimensions of business and
to train them to identify ethical dilemmas, analyze them
systematically and resolve them based on ethical principles and
moral theory.
• To examine the ethical dimensions of business from different
perspectives (American/British, European/Japanese, etc) and to
introduce tools of ethical analysis of management decisions
involving difficult choices between right and right and wrong and
wrong.
Objectives
• To convey the importance and functionality of core values, codes
of contact and a culture of ethical behavior as powerful
management tools in the workplace and sources of trust and
reputation in the marketplace
• To differentiate between responsive and strategic CSR in terms
of shareholder and social value, competitive advantage and
sustainability.
• To help participants evaluate the CSR standards of their own
companies, identify CSR initiatives and convey competencies for
their effective implementation and evaluation.

COURSE OUTLINE
1. INTRODUCTION

Meanings/Definitions of Ethics and Social Responsibility; Basic Principles,

Use/Scope etc. of everyday ethical dilemmas

2. WHY BE ETHICAL?

Who cares? Who bothers? The “amoral” majority, Unconscious biases

3. BUSINESS/PROFESSIONAL ETHICS

Definitions, The case for and against ethics in business, Why the law cannot do it?
Do Business Ethics make economic sense? The invisible hand and market
failures; Distinction between Social Ethics and Professional/Business Ethics
78
4. COMMON ETHICAL DILEMMAS IN BUSINESS
Human resource issues, Conflict of interest issues, Customer confidence issues,
Use of corporate resources, Blowing the whistle

5. ETHICAL THEORIES
Consequentialist or teleological theories (ethical egoism and utilitarianism), Non-
consequentialist or deontological theories (normative ethical relativism, golden
rule and Kantianism), Virtue ethics and defining moments, Rawlsian Theory of
Justice, Stakeholder theory of management
6. ETHICAL DECISION MAKING AND GOVERNANCE
Eight steps to resolving ethical dilemmas and conflicts, Applications to Ethical
dilemmas of managers - Ethical dilemmas of organizations

7. CORE VALUES AND CODES OF CONDUCT AS MANAGEMENT AND

BRANDING TOOLS

Asymmetry of information and adverse selection, Principal-agent problems and

imperfect contracts, the market value of trust and reputation.

8. FUNCTIONAL AREA APPLICATION OF BUSINESS ETHICS

Ethics in finance and accounting, Ethics in marketing and advertising, Ethics

in human resource management, Ethics in governance and leadership

9. ETHICS IN THE GLOBAL BUSINESS ENVIRONMENT

10. CORPORATE SOCIAL RESPONSIBILITY

CSR as an ethical responsibility of business towards society, Responsive vs.

strategic CSR, Choosing the right CSR initiatives to create shared social and
business value, Implementing, evaluating and scaling up CSR to maximize shared
value.

11. DOES IT PAY TO BE ETHICAL AND SOCIALLY RESPONSIBLE?

The time horizon: short term vs. long term, Empirical evidence

12. CASES

Enron
Procter & Gamble Co.
Aluminium Co of America
Nestle

79
 Hooker Chemical Company
NYEC
The Wall Street effect
McDonald’s Polysterene Case
Philip Morris
The Markin Mining Company
Texaco
Other old and latest Cases from Pakistan’s Corporate Sector etc.

Recommended Books:
1. Code of Corporate Governance 2013 or Latest, issued by SECP
2. Business and Society: Ethics, Sustainability, and Stakeholder Management, Latest
Edition Archie B. Carroll, Ann K. Buchholtz South-Western College Publications,
Cengage Learning
3. Business and Society: Stakeholders, Ethics, Public Policy, Latest Edition Anne T
Lawrence and James Weber McGraw-Hill/Irwin
4. Business Ethics and Corporate Social Responsibility, Latest Edition, Paul Griseri
and Nina Seppala CENGAGE Lrng Business Press

Reference Books:

cs European Review

Responsibility Issues

80
 LEADERSHIPAND COMMUNITY Credit
Course 3
DEVELOPMENT Hours
Pre-
Principles of Management Semester V
Requisite
This course is meant to:
To provide a conceptual and theoretical knowledge of
Leadership
To examine the motives for and meanings of “community
development” and the pros and cons of various community
development approaches
To understand various intervention measures in solving
Objectives social problems in a society
To use local resources to empower the societies in order to
become self-reliant
Social Action Projects will enable students to harmonize the
knowledge and skills gained through these projects with CSR
in their professional lives, which is one of the major concerns
for future leaders, managers and organizations globally. Start
career as Auditor at initial level

COURSE OUTLINE
1. Fundamentals of Leadership and Servant Leadership
What is leadership
Leadership Traits
Servant Leadership
2. Foundations of Community Development
The frame work for community and economic development
Seven theories for seven community developers
Bases of community development
Process of community development
Challenges of the process

3. Social Capital, Community Building and Community Development

Practices
Social capital
Community social capacity and how does it influence development
Intentional action to increase social capacity
Factors that influence the success of community-building efforts
Principles and process of practicing community development
How does community development practice relate to economic
development
81
 Professional standards of ethical practices in community development
4. Entrepreneurship as a Community Development Strategy
Introduction to Entrepreneurship
Understanding an Entrepreneur
Opportunity recognition and role of creativity
5. Community development assessment, Community Asset mapping and
surveys, Assessing local economy.
Community Mapping
Surveys Forms
The importance of asset mapping.

6. Building Powerful Community Organizations

Bringing a group together
Scanning the functions of Community Organizations present in the
market
The idea generation
Developing Vision, Mission and Goals
Structuring the Organization
Defining SOPs
7. Marketing your Organization
Marketing a Community Organization
Effective role and guidelines for conducting meetings
8. Mobilizing Resources: Raising Money
Community development finance
Finding sources of money
Securing grants for community development projects
Preparing grant proposals
9. Measuring Progress
Community development indicators, Best practices & Benchmarking
Recommended Books:
1. The heart of leadership: A leader people want to follow by Mark Miller, Berret-
Kohler Publisher 2013.
2. Leadership and Art of Struggle by Steven Snyder & B. Geage Berret Kohler
Publisher 2013.
3. Strategic Leadership: How to think and plan by John Adair, Kogan Page Ltd
2010.

82
 Credit
Course MANAGERIAL ACCOUNTING Hours
3
Pre-
Financial Accounting and Cost Accounting Semester VI
Requisite
This course is meant to:
Develop the skills in students so that are be able to make
proper distinction between different Types of Costs, and their
respective Uses.
Objectives
Equip the students with Emerging New Concepts and its
application in the field of managerial accounting.
Develop the skills in students to design the costing system
that help in Optimal Decision Making

COURSE OUTLINES
1. THE CHANGING ROLE OF MANAGERIAL ACCOUNTING IN A
DYNAMIC BUSINESS ENVIRONMENT:
Managerial Accounting; Managerial VS Financial Accounting, Managerial
Accounting in different Types of Organizations, Evolution and Adaptation in
Managerial Accounting, Cost Behavior.
Service VS Manufacturing firm, emergence of new industries, global
competition, focus on customer, cross functional team, computer integrated
manufacturing, product life cycle and diversity, time-based competition.
2. ACTIVITY BASED COSTING
Some key issues about cost drivers; Activity dictionary and bill of activities,
direct VS indirect costs, when is new product –costing system needed; Cost
management systems.
Activity based management and Cost Management Tools: Two Dimensional
ABC, Customer Profitability Analysis, Target costing, Kaizen costing,
Benchmarking and Reengineering, Theory of Constraints,

3. MARGINAL / DIRECT AND ABSORPTION COSTING

Meaning of Direct and Absorption Costing, Direct (variable) costing income
Statements, reconciling income under direct and absorption costing change in
inventory, evaluation of direct and absorption costing effect of the volume
variance.
4. COST-VOLUME-PROFIT ANALYSIS / BREAK-EVEN ANALYSIS
Meaning of Cost-Volume-profit, Break-even Point, Contribution Margin
Approach, Equation Approach, Graphic Approach, Safety Margin, Angel of
Incidence, PV Ration and its uses cost structure and operating leverage, Effect of
Income Taxes.

83
5. DECISION MAKING AND OPTIMAL MIX OF PRODUCTS
Relevant and irrelevant costs make or buy decisions, addition and deletion of a
product, lease or buy steps in the decision – making process, quantitative versus
qualitative analysis, obtaining information, pitfalls to avoid i.e. common errors in
decision making.
6. PRICING DECISIONS
Major influences on pricing decision, open market pricing cost plus pricing full
cost based pricing, contribution based pricing.
7. RESPONSIBILITY ACCOUNTING AND COST ALLOCATION
Responsibility centers, performance reports, cost allocation based on budget
activity based, activity based responsibility accounting and behavioral effects of
responsibility accounting.
8. BUDGETING
Function and master budget-The Master Budget overall plan and a planning
assumptions and predictions underlying the master budget, Sales Budget, Cash
Budget and Financing Budget with negative Cash Flow, Production and Stock
Budget, Flexible Budget definition and meaning advantages, fixed overhead
treatment, revised budget.
9. STANDARDS COSTING AND VARIANCE ANALYSIS
Basic concept of standard costing, preparation of standard cost, types of
production capacities, material price and usage variances, labor rat and efficiency
variances, variable overhead expenditure and efficiency variances, Fixed overhead
budget and volume variances.
10. QUALITY CONTROL, AND ENVIRONMENTAL COST MANAGEMENT
Behavioral effects of responsibility accounting; Segmented reporting, total quality
management.

11. PERFORMANCE MANAGEMENT AND TRANSFER PRICING

Meaning and Techniques of Performance Analysis/Measurement and
Management, use of Contribution Margin, ROI and Residual Income as
Measures of Performance, concept and Definition of Profit Centre and
Transfer pricing, general transfer-pricing rule Transfer pricing based on the
external market price, Negotiated transfer price, cost based transfer prices,
standard versus actual costs.

Recommended Books:
1. Cost and Management Accounting by Collin Drury - Latest Edition
2. Cost and Management Accounting by Arshad Awan-Latest Edition
3. Cost and Management Accounting by Matz & Usury - Latest Edition
4. Garrison H. Ray, Noreen W. Eric., Latest Edition, Managerial Accounting
84
 Irwin publishers

Reference Books:
1. Introduction to Management Accounting, Horngen Charles T; Prentice Hall
Inc. Latest Edition
2. Managerial Accounting; Q. Compel & Ronald M. Dascher, Paul E John Wiley
& Sons Latest Edition
3. Hilton W. Ronald Managerial Accounting, Latest Edition, McGraw-Hill Irwin

85
 HUMAN RESOURCE Credit
Course 3
MANAGEMENT Hours
Pre-
Principles of Management Semester VI
Requisite
This course has been designed to:
Recognize and appreciate importance of effective Human
Resource Management
Understand the key functions of the Human Resource
Objectives Management
Become familiar with systems and structures that support
effective Human Resource Management
Review systems and tools used in Human Resource
Management

COURSE OUTLINE
1. INTRODUCTION TO HUMAN RESOURCE MANAGEMENT

Human Resource management - What and Why; Model of Human Resource

Management; Strategic Human Resource Management; Human Resource
Management – the only active factor of production; Management and
Leadership; Organization of Human Resource Management; Evolutionary
Development in HR
2. THE HR FUNCTION/DEPARTMENT

Terminology; Who does personnel work?; Staff role of the personnel

department; Personnel (Human Resource) functions; Line, Staff and
Functional Authority.

3. HR PALNNING
Job Design and Analysis; Job information and personnel management;
Analyzing jobs-obtaining job information; Functional job analysis;
Administration of the job analysis program; Human Resource Planning
Process; Reasons for human resource planning; The planning process.
4. HR RECRUITMENT AND SELECTION
Recruitment and Selections/Testing and Interview; Recruitment and selection
policy issues; Labor market considerations; The employment process; Sources of
people; The selection process; The selection procedure; Testing: Interview;
Induction and Orientation
5. HR TRAINING AND DEVELOPMENT
Defining and understanding HRD; Need for constructive Education and Training
on consistent basis; Meaning and Dimensions of HRD; Training, and Forms &
Methods of Training; The rationale for Training: Deliverables from Training;
Coaching, and its Forms & Methods; Basic understanding about Performance
86
 Appraisal and Management; Various Methods of Performance Appraisal; The
need/rationale for Performance Appraisal
6. HR LEADERSHIP, MOTIVATION, AND TEAM WORK
Role of a Manager as a Leader for Employees; Parameters for Leadership
Evaluation; Motivation, its Use / Scope, and Theories; Leader Vs Manager;
Significant Contemporary Leadership Theories
7. HR PAY, COMPENSATION, REWARDS AND BENEFITS
Defining and understanding; Basic difference between Compensation and Pay;
Strategic Plans for Pay/Wages/Salaries; Monetary Vs Non-monetary Rewards;
Various Forms/Types of Pay and Benefits; Motivation for Employees via
Rewards/Benefits; Pay for Performance
8. EMPLOYEE RELATIONS AND CONFLICT MANAGEMENT:
The need to manage Relations among Employees; Categories, and Forms of
Relations among Employees; Biasness, Conflicts, Disputes and other
discrepancies among Employees, and between Boss and Employees;
Conflict/Dispute Resolution Techniques including Collective Bargaining,
Negotiation, Avoidance/Concentration etc. Labor Unions, and their Management
9. ETHICS, CODE OF CONDUCT AND LAWS FOR LABOUR /
EMPLOYEES:
Meanings and Understanding of Code of Ethics/Conduct; Justice and Fair Play;
Overview of Labour Code (Laws) in Pakistan; Comprehension of Significant
Provisions of Selected Labor Laws in Pakistan
10. CONTEMPORARY ISSUES
Information Technology; Union and management; Health and safety and other
Contemporary Issues

Recommended Books:
1. Human Resource Management, Latest Edition, by Gary Dessler
2. Decenzo, David A. & Robbins, S.P. Human Resource Management. John Wiley,
Latest Edition

3. Human Resource Management, Latest Edition, by Alan Price, Latest Edition

Reference Books:
1. Flppo E D, Principles of personnel management McGraw-Hill Latest Edition
2. Keith Davis, Human resource management Latest Edition
3. Bernardin H J, Human resource management McGraw-Hill Latest Edition
4. Essential of Human Resource Management, Latest Edition, by Shaun Tyson

87
 ENTREPRENEURSHIP & SME Credit
Course 3
MANAGEMENT Hours
Pre- Introduction to Business and Principles
Semester VI
Requisite of Management
To provide students with an understanding of the nature of
business formation, growth & execution with particular reference
to:
Objectives To develop in students an understanding of the theoretical
and practical aspects of Entrepreneurships literature.
To develop in students the skills of analysis, synthesis and
evaluation in context of Pakistani business environment.

COURSE OUTLINE
1. INTRODUCTION TO ENTREPRENEURSHIP
The Nature and Importance of Entrepreneurship: Nature and Development of
Entrepreneurship; Entrepreneurial Decision Process; Role of Entrepreneurs in
Economic development; Ethics and Social Responsibility of Entrepreneurship;
The Future of Entrepreneurship ,The Entrepreneur and Entrepreneurial Mind:
The Entrepreneurship process; Myths of Entrepreneurs, Managerial VS
Entrepreneurial Decision Making; Entrepreneurial Leadership Characteristics

The Nature and Importance of SMEs: Nature and Scope of Entrepreneurship;

SMEs Definitions / Understanding by various Regulatory Authorities in Pakistan;
SMEs contribution to GDP of any country, and of Pakistan; SMEDA’ s Role in
promoting and developing SMEs
2. IDEA GENERATION
The Individual Entrepreneur, and Techniques for Idea Generation Process;
Entrepreneur VS Intrapreneur.
Inside the Entrepreneurial Mind: From Ideas to reality: Creativity, Innovation and
Entrepreneurship; Creativity A necessity for survival; Creative Thinking; Barriers
to creativity; How to enhance creativity; The creative Process; Techniques for
improving the creative process; Protecting your ideas.
3. PLANNING
The Customer and Product Plan/Feasibility: Understanding of Customer through
Demand and Desire, and of Product (Good and/or Service)

The Industry and Marketing Plan/Feasibility: Understanding of Marketing Plan,

Characteristics of Marketing Plan; and Environment Analysis and Steps in
preparing the Marketing Plan

The Financial Plan/Feasibility: Operating and Capital Budgets, Break Even

Analysis; Cash Flows and Balance Sheets
88
 The Organizational Plan/Feasibility: Developing the management team; Building
the successful Organization, The Role of BODs

4. BUSINESS PLANS AND BUSINESS MODEL

Business Plan: Components, and Classification of Business Plans
Financing Options: e.g. Leveraged Buyouts;
5. PRODUCT LIFE CYCLE
Preparing for the new Launch; Execution & Growth; Managing early growth of
the New Venture
6. ENVIRONMENTAL ISSUES / TRENDS AND THEIR IMPACT
PESTEL Analysis, and Competitive Environment Analysis
7. STRATEGIC OPTIONS FOR GROWTH
Growth Options: Joint Venture; Franchising; Acquisitions; Synergy; Mergers;
Hostile Takeovers; Licensing etc.
Sustainability Analysis and Maintenance
8. INTERNATIONAL ENTREPRENEURSHIP OPPORTUNITIES
The Nature of International Entrepreneurship; Importance of International
Entrepreneurship; Entrepreneurial Entry into International Business
9. CONTEMPORARY ISSUES
Management of SMEs in today’s world
Promotion and Development of SMEs in Pakistan
SMEs’ contribution towards Income, Employment and other
Macroeconomic Variables
Management succession and continuity: A family Business Perspective
Woman and Minority Entrepreneurship
Social Entrepreneurship (Social Responsibility)
Latest Theories/Research Work on SMEs and Entrepreneurship
Any other ancillary topic/issue/research/article
Recommended Books:
1. Entrepreneurship: Successfully Launching New Ventures by Bruce R. Barringer,
Duane Ireland, Latest Edition
2. Entrepreneurship new venture creation by David H. Holt - Latest Edition
3. Pitts R.A. and Snow C.C., Strategies for Competitive Success, Johan Willy -
Latest Edition
4. Barlett, Christopher A., and Sumantra Goshal. Strategy & Leadership - Latest
Edition
5. Hisrich and Peters, Entrepreneurship, McGraw-Hill – Latest Edition
6. Carrier, Camille., Entrepreneurship in Large Firms and SMEs. A Comparative
Study – Latest Edition

89
 Credit
Course PRINCIPLES OF AUDITING Hours
3

Financial Accounting, Advanced Accounting–I,

Pre-requisite Semester VI
and Cost Accounting
This course is meant to:
Comprehend and Interpret Audit Reports of any organization
Comprehend the Auditing Principles, Techniques, and Generic
Auditing Process
Objectives Assess the risk of material misstatements
Assess the strengths and weaknesses of internal control systems
Start career as Auditor at initial level
Start higher professional studies.

COURSE OUTLINE
1. NATURE AND PURPOSE OF AUDITING:
Nature, definition, scope, objective and principles of an audit, Classification
(kinds/types) of an audit, the need and usefulness of an audit, distinction
between accounting and auditing, concepts of reasonable assurance, audit risk
and materiality, true and fair view, recurring audit, management responsibility
for preparation and presentation of financial statements, regulatory framework
for Auditing in Pakistan, responsibility of an auditor (external) and role of
auditor as detector of error/mistake and fraud, Postulates of Auditing,
Glossary of Terms for Auditing attached with ISAs issued by IAASB/IFAC.
2. INTERNAL CONTROLS:
Definition, meaning objectives, types, principles and techniques of internal
control, difference between internal check and internal control, categories of
internal control, systems of internal control, key components and
important elements of internal control, limitations on the effectiveness of internal
control/audit, evaluation of internal controls and accounting systems, substantive
procedure, and analytical procedure, tests of controls: purchase system, sales
system, payroll system, inventory system, cash system, capital and expenditure,
controls in small entities, internal control in an EDP environment
3. INTERNAL AUDIT:
Scope and limitations and types of internal audit, responsibilities of internal
auditor, internal audit and corporate governance, internal audit assignments,
outsourcing the internal audit function, impact of internal controls and audit work,
issuance of management letter, relationship between internal and external audit,
audit working papers, functions of chief internal auditor, reporting by internal
auditors, difference between internal audit and external audit, reliance of external
auditor on internal auditor’ report.

90
4. LEGAL AND PROFESSIONAL CONSIDERATIONS:
Appointment, remuneration, resignation, removal, rights, powers, duties and
liabilities, qualifications and dis-qualifications etc., of auditor, procedure for
appointment of first and subsequent auditors under Companies Ordinance, 1984,
provisions related to appointment of auditor by a listed company and appointment
of sole proprietor chartered accountants as auditors by business name, international
standards on auditing (ISAs) and guidelines, statements of standard accounting and
auditing practices and technical releases issued by local professional institute of
Pakistan, professional ethics.
5. AUDIT PLANNING AND CONTROL (w.r.t. ISA 300, 320):
Concept of audit planning, benefits and factors of audit planning, planning
procedure overall audit strategy, Review of the client’s business and accounting
requirements, systems and procedures, preceding year’s financial statements, client
generated information, determining the audit risk and materiality level, audit
planning memorandum, preparation of audit plans, preparation of detailed audit
programmes, documentation of audit plan, audit timetable, changes in audit plan
during the course of an audit, direction, controlling, supervision and review of
audit work, monitoring time and costs.

6. AUDIT PROCEDURES AND TECHNIQUES (w.r.t. ISA 210, 315, 330):

Terms of audit engagement, engagement letter and its contents, acceptance of and
amendments in engagement letter, techniques of commencement of audit work,
procedures affecting audit work, cut-off procedure.
Definition of audit technique, kinds of audit techniques, tests of control and
substantive procedures, management representation, vouching and verification of
assets and liabilities, scrutiny of trading, profit and loss account, sampling
techniques, compliance techniques, substantive testing, analytical review, use of
computer assisted audit techniques (CAATs), reliance on other auditors, and
reliance on experts.
7. AUDIT EVIDENCE AND DOCUMENTATION (w.r.t. ISA 500, 230):
Concept of audit evidence, use of assertion in obtaining audit evidence, audit
procedure for obtaining audit evidence, inspection of records and tangible assets,
observation inquiry, confirmation from third party, recalculation, re-performance,
analytical procedure, Need for documentation of work done, audit notebook,
nature and types of working papers, contents of working papers, ownership and
retention of working papers, recording of significant points, audit files.
8. PERFORMANCE OF AUDIT AND UNDERSTANDING THE RISK:
Assessment of Audit Risk, Materiality Assessment, and Audits Sampling
Definition of risk, liquidity risk, management risk, operational risk, credit risk,
market risk, compliance /legal or regulatory risk, reputation risk, risk
management, board and senior management oversight.

91
9. COMPLETION OF AN AUDIT:
Completion procedures, events after reporting period, events occurring up to the
date of audit report, letter of representation, letter to management, points carried to
next period, summary record of errors, contingent liabilities and commitments,
review of audit work and company’s financial statements, conclusions drawn and
action taken.
10. THE REPORTING OF AUDIT:
Audit Reports, their contents and qualifications, forms of qualifications, statement
of compliance, dating and signatories of the auditors’ report, other information in
report containing audited financial statements, reports on accounts of association
of persons and sole traders, special purpose reports, requisites of code of corporate
governance.
Recommended Books:
1. Auditing by A.H. Millichamp published by British Library Continuum
2. International Standards on Auditing (ISAs), issued by IFAC, and published by
ICAP
3. Auditing by Basu, Latest Edition
4. Auditing by Depaula, Latest Edition
5. Advanced Auditing by Prof. Dr. Khawaja Amjad Saeed.
6. Practical Auditing by Spicer & Pegler’s by Butter worth & Co. Ltd., Latest
Edition

92
93
 LOGIC AND CRITICAL Credit
Course THINKING Hours
3
Pre-
NONE Semester VI
Requisite
This course has been formulated to:
Improve the Reasoning Ability among the students.
Make students capable to Demarcate Fallacious and Valid
Arguments.
Objectives Introduce to students application of Logic in Administrative
Sciences.
Develop Decision Making Ability based on Logical
Reasoning, which is a crucial pre-requisite for successful
managers.

COURSE OUTLINE
1. INTRODUCTION TO PHILOSOPHY AND LOGIC
Historical Introduction to Logic; Aristotelian Logic; Modern Mathematical/
Symbolic Logical; Recent Developments in Logic; Modal Logic; Fuzzy
Logic; Free Logic; Critical Thinking; Critical Thinking and Validity of
Thought; Other Basic Logical Concepts
2. PROPOSITION, ARGUMENT, PREMISES, VALIDITY ETC.
Proposition & Sentence; Proposition & its Analysis; What is an argument?;
Argument Forms; Argument & Non Argument; Well Crafted Argument;
Premises; Deduction & Validity; Induction & Probability; Validity, Truth,
Soundness, Strength, Cogency & Reasoning.
3. LANGUAGE, DISCOURSE, PUNCTUATION, NEGATION,
IMPLICATION, EQUIVALENCE ETC.
Three Basic Functions of Language; Forms of Discourse; Introduction to
Symbolic Logic; Translating Statement and Punctuation; Negation,
Conjunction & Disjunction; Conditional Statement & Implication; Material
Equivalence & Logical; Equivalence
4. ARGUMENT FORMS, PROPOSITION, INDUCTION ETC.
Argument Forms; Some Common Valid Argument Forms; Some Common
Invalid Argument Forms; Categorical Proposition & Classes; Quality,
Quantity and Distribution; Paradox, Dilemma & Fallacy; General Schema of
Standard Form; Categorical Proposition; Standard Form Categorical
Syllogisms; Major, Minor & Middle terms; Mood; Figure; Method of
Deduction; Formal Proof of Validity; Proof of Invalidity; Introduction to
Quantification Theory; Quantification; Traditional Subject Predicate
Proposition; Nature of Inductive Argument; Science & Induction; Argument
94
 by Analogy; Refutation by Analogy; Essay Analysis; Presentation

Recommended Text:
1. Restall, G. Logic: An Introduction, Taylor & Francis Group, Latest Edition,
New York.
2. Hurlez, P.J. A Concise Introduction to Logic, Woods worth/Thomason
Learning Incorporation, Belmont, Latest Edition,.
3. Copi, I.M. (2002) Introduction to Logic, Latest Edition, Pearson Education
Inc, Delhi.
4. Vaughn, L. The Power of Critical Thinking, Oxford University, Latest
Edition,
Reference Books:
1. Auditing, CA Examination Study Text (Latest Edition) Professional Business
Publication, Lahore.
2. Contemporary Auditing, Gupta, Kamal (Latest Edition) Tata McGraw Hills, Delhi.
3. Journals/Periodicals: The Pakistan Accountant and other Publications by
ICAP
4. Journals / Periodicals: Journal of Management Accounting, ICMAP

95
 CORPORATE LAW AND Credit
Course 3
SECRETARIAL PRACTICES Hours
Pre-Requisite Business Law Semester VI
This course deals with the theoretical and practical approach
to the Companies Ordinance 1984, the Securities and Exchange
Commission of Pakistan Act 1997, Securities and Exchange
Commission of Pakistan Regulations 2000, Companies
Objectives (Issuance of Capital) Rules, 1996, Single Member Companies
Rules 2003, Code of Corporate Governance, Companies
(Corporate Social Responsibility) General Order, 2009 and
Voluntary Guidelines, 2012, Modaraba Companies and
Modaraba (Floatations and Control) Ordinance, 1980, and
Secretarial Practices..
COURSE OUTLINE
1. INTRODUCTION TO THE COMPANIES ORDINANCE, 1984
Section 1-51
Part I; Preliminary (concepts and terms defined under section-2)
Part II; Jurisdiction of courts
Part III; Section 12 and Section 13
Part IV; Incorporation of companies and matters incidental thereto and First
schedule to the Companies Ordinance, 1984
Classification of Companies
2. THE SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
ACT, 1997
Certain relevant provisions
3. THE COMPANIES ORDINANCE, 1984
Section 52-136
Part V; Prospectus, allotment, issue and transfer of shares and
debentures, deposits, etc.
Part VI; Share capital and debentures.
Part VII; Registration of mortgages, charges etc.
4. THE COMPANIES ORDINANCE, 1984
Section 142-262
Part VIII Management and Administration (excluding investigation & related
matters)
Doctrines of Corporate Law
Third Schedule to the Companies Ordinance, 1984.
5. THE SECRETARIAL PRACTICES
96
 Meaning, Nature, Role, and Use/Scope of Secretarial Practices; Relevant
provisions of Companies Ordinance and other Laws concerning Secretarial
Practices; Major and Minor Functions of a Company Secretary; Practices,
Responsibilities, Rights and Role of a Company Secretary of a Public
Company (both Listed and Unlisted); Any other relevant Topic / Issue /
Research etc.
6. KSE LISTING REGULATIONS
Overview of KSE Listing Regulations
Recommended Books:
1. The Companies Ordinance along with relevant Rules and Schedules issued by
SECP
2. KSE Listing Regulations issued by Karachi Stock Exchange
3. Practical Approach to the Companies Ordinance and Secretarial Practices by
Nazir Ahmed Shaheen (Latest Edition)
4. Introduction to Company Law by Mirza Munawar Hussain (Latest Edition)
5. Company Law by – PBP Publications (Latest Edition)

Reference Books:
1. Company Law by A T Foulks Lynch (Latest Edition)
2. Company Law by Khalid Mehmood Cheema (Latest Edition)
3. Company Law by Luqman Baig (Latest Edition)
4. Corporate Law by Rehan Aziz Sherwani (Latest Edition)

97
 Credit
Course STRATEGIC MANAGEMENT Hours
3
Principles of Management
Principles of Marketing
Pre-Requisite Semester VII
Human Resource Management
Financial Management
This course gives a student the knowledge about the changing
environment, it build up the skill to solve many business
Objectives problems, it also changes the attitude to become the generalist rather than to
become specialist. Its basic objective is to know
about the opportunity and threats in the environment as well as to
detect the strength and weakness within themselves

COURSE OUTLINE
1. INTRODUCTION TO STRATEGIC MANAGEMENT
Concept and Meaning of Strategic Management; the Nature and Importance of
Business Policy/Strategy; What is Strategy? And what is
Strategic Management?; The Four key Attributes of Strategic Management; The
Role of Policy/Strategy in Organization; Organizational Vision, Mission and
Objectives; The changing Social Role of Business; Managerial & Organizational
Style; Strategic Management Elements
2. ENVIRONMENTAL ANALYSIS
Environmental Analysis (both Internal and External) and Diagnosis; SWOT
Analysis; The General Environment; The competitive environment; Value chain
Analysis (VCA); Application of VCA in Service Sector; Resource based view;
Evaluating Firm’s Performance; Strategic Advantage Analysis and Diagnosis
3. STRATEGY FORMULATION, STRATEGIC OPTIONS AND CHOICE
Considering Strategic Alternatives/Options at all Levels of Management:
(1) Generic Corporate Level Strategies; (2) Business/Competitive Strategies, and
Forces; (3) Functional and/or Operational Strategies and their Dimensions
4. STRATEGIC IMPLEMENTATION
Implementing Strategy; Implementation VS Formulation and their
Implications/Contrasts; Critical Success Factors
5. EVALUATION AND CONTROL
Evaluating the Strategy through various Methods/Techniques of Evaluation and
Analysis
6. APPLICATION OF STRATEGIC MANAGEMENT PROCESS
Applying the Strategic Management Process – The Case Methods; The Importance
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 of Strategic Management Process; International Edge: (1) International Expansions
- Motivators and Risks, and (2) Entry Modes of International Expansion
7. STRATEGIC LEADERSHIP: CREATING A LEARNING
ORGANIZATION
Element of effective Leadership; Emotional Intelligence; Learning
Organization etc.
8. CASE STUDIES
At least two International Case Studies and four National Case Studies.
Recommended Books:
1. Fred R. David Strategic Management, Concepts and Cases, Prentice Hall - Latest
Edition
2. George A. Steinar & John B. Miner Management Policy & Strategy: McMillan
Pub. Co. N.Y. - Latest Edition

3. Strategic Management – A Process Approach, Cetro Peter - Latest Edition

4. William F. Clueck, Lawrence R. Jauch, Business Policy and Strategic

Management, Latest Edition, McGraw-Hill (Kogakusha) Ltd., Tokyo.
Reference Books:
1. Thomas L. Wheelen, J. David Hunger, Strategic Management and Business
Policy, Prentice Hall – Latest Edition
2. Newmann & Logan, Business Policy in Central Management - Latest Edition)
3. Thompson Strikland, Strategic Management, Concepts and Cases McGraw-
Hill (Latest Edition)
4. Journals/Periodicals: National and International Journals/Newspapers-
Business Recorder/Dawn
5. Case Studies
6. World Wide Web

99
 Credit
Course BUSINESS TAXATION Hours
3
Pre-
Financial Accounting Semester VII
Requisite
This course is intended to:
Familiarize the students with the Income and Sales Tax Laws
in Pakistan.
Objectives Introduce to students the important elements and aspects of
tax system and authorities and their limits.
Equip the students with necessary skills to deal with the
situations concerning the field of taxation.

COURSE OUTLINE
1. INTRODUCTION AND SCOPE OF INCOME TAX LAW IN PAKISTAN.
Definitions and Terminologies; Exclusions from total income; Reduction in
tax liability; Exemption from specific provisions of income tax ordinance
2001.
Distinction between capital and revenue items of expenditures; Tests for
differentiating between capital and revenue receipts and expenditures; Capital
loss.

2. INCOME FROM SALARY, SCOPE OF SALARY INCOME.

Allowances and relieves under the Ordinance; Types of provident fund,

treatment of provident fund, the sixth schedule, employer’s contribution of
approved gratuity fund deduction from income, gratuity fund deduction from
income, gratuity fund and schemes; Computation of income tax payable from
salaried persons.
3. INCOME FROM BUSINESS AND PROFESSION
Terms used; Considerations governing taxation of business profits; Maintenance
of accounts on mercantile or cash basis; Income chargeability under income tax
law on income from business; Principles of computation of taxable profits,
allowable deductions; Deduction for computing business income, significant
changes introduced by the ordinance; Non-admissible expense; Bad-debts etc.
4. INCOME FROM PROPERTY TAX ON AGRICULTURE INCOME.
Income from property tax on agriculture income; Calculation of ALV; Allowable
deduction from income from property; Set-off and carry forward of losses; Types
of Losses; Rules for set-off and carry forward; Penalties, offenses, appeals and
prosecutions; Income tax authorities their appointments, adducties and the
limitation and powers.
5. INCOME FROM OTHER SOURCES

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 Deduction for computing income from other sources; Capital gains; Exchange
gain/losses, income deemed to accrue or arise
6. OTHER ANCILLARY PROVISIONS
Tax accountings and assessment cycle, procedure filling of return; Power to grant
extension of time for filling the return, assessment procedure, provisional
assessment, notes for production of books of accounts, evidence, etc.; Assessment
on the basis of return, wealth statement, simplification of assessment of
procedure, payment of tax before assessment, changes in tax withholding and
collection of tax; Withholding tax rates under section 50(6) collection of tax on
demand, recovery of tax; Recovery of arrears/ refunds demand, refund and tax
credit, persons entitled to claim refund in certain case, income tax refunds,
penalties, enhanced tax rates for higher slabs of income, first schedule rates of
income tax for individuals, unregistered firms, association of persons and Hindu
individuals.
Assessment of individual salaried and non-salaried person; Self-assessment
scheme; Appeals; Practical Problems

7. INTRODUCTION AND SCOPE OF SALES TAX.

Definitions and Terminologies; Sales Tax Authorities; Registration in Sale Tax;
Book Keeping and Invoicing Requirements; Furnishing of Return of Sales Tax;
Appeals; Practical Problems.
Recommended Books / Texts:
1. Income Tax Ordinance, 2001 issued by FBR
2. Sales Tax Act, 1990 issued by FBR
3. Income Tax Ordinance, 2001 published by Mehboob, A. Sheikh, Taxation, latest
edition – current year.
4. Sales Tax Act, 1990 published by Mehboob, A. Sheikh, Taxation, latest
edition – current year.
5. Synopsis of Taxes by Mirza Munawwar Hussain, Latest Edition – current year
Reference Books:
1. Mughal, Muhammad Muazzam, Income Tax-Principles and Practice, Syed
Mobin & Co., Lahore.
2. Mughal, Muhammad Muazaam, Sales Tax, Syed Mobin & Co. Lahore.

PRE-NOTE: The respective University will opt either (1) E-commerce or (2)
Computerized Accounting

101
 Credit
Course E-COMMERCE Hours
3
Computer Applications in Business and
Pre-Requisite Semester VII
Information Technology in Business
Explore, examine, and apply Commerce concepts and principles
by reading the modules, by answering the self-tests, exercises,
and assignments, and by participating in the online discussions.
Decide what level of Commerce activity to pursue, and provide
appropriate supporting evidence.
Determine the means, methods and strategies appropriate for
establishing an e-commerce business.
Objectives Decide whether to in-source or outsource your project design,
development, installation, and/or operation, based on an
increased understanding of Commerce set-up requirements.

Write a comprehensive Commerce Business Plan focused either

on adding Commerce to your existing business or on
implementing a new Commerce business.
Receive feedback from the facilitator and from experts on the
quality of your Business Plan.

COURSE OUTLINE
1. INTRODUCTION TO E-COMMERCE
Defining E-Commerce and E-business, Reasons for going Online,
Differentiating between E-Business Categories/Orientations, using the new
Paradigm of E-business, Pure and Partial E-Commerce, Case Study of
Amazon, Napster and any other Latest International Case Study
2. PREPARING THE ONLINE BUSINESS
Competitor Analysis on the Internet, the Fourth Channel, Paradigms in the New
Economy, Driving Business Process Re-engineering, Designing, Developing and
Deploying the System, Supply Chain Management
3. TECHNICAL INFRASTRUCTURE

Exploring the IT Infrastructure, Deciding on the Enterprise Middleware, Choosing

the Right Enterprise Application, Building the E-business applications, Choosing
the Right Web Server
4. MARKETING STRATEGIES ON THE WEB

Internet Marketing Technologies, Web Design, Attracting Visitors to your Site,

Virtual Societies, Localization, Promoting your E-business, Banner and
Campaigning, Online Measurement, Direct Marketing, Search Engine
Optimization Techniques
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5. INTERACTIVE COMMUNICATION EXPERIENCES

The Basics, Moderating Online Meetings, Internet Chat Solutions,

Internet-bared Trainings, Discussion Forums
6. INTERNET INFORMATION SECURITY

Creating a Security Strategy, Cryptographic Tools, Applications of Cryptology,

Privacy on the Internet, Fighting Virus and Hoax Virus Warnings, Conflicts in the
Information Age. Security Threats in E-Commerce, Use of Third Party Security
Services,
7. PAYING VIA INTERNET

The Payment Business, Post-Paid Payment System, Instant-paid Payment System,

Pre-paid Payment Systems, Merchant Accounts, Use of Third Party Payment
Services , The Future of Payment
8. SHOPPING AND ORM SOLUTIONS

Online Shopping, Shopping Solutions, Implications of the new Economy

Electronic Software Distribution, Operational Resources Management
9. POLICIES, STANDARDS AND LAWS

Internet Security Policies, Standards for E-Commerce Infrastructure, Cyber Laws

for Secure E-Commerce Transactions, Privacy and Information Rights, Social,
Legal and Ethical Issues in E-commerce
Recommended Books:
1. Kenneth C. Laudon, Carol Guercio Traver (Latest Edition), E-Commerce:
Business Technology, Society, Pearson Education
2. Marilyn Greenstein, Miklos Vasarhelyi (Latest Edition), Electronic
Commerce: Security, Risk Management, and Control
3. The E-business (R) Evolution By Daniel Amor

103
 Credit
Course CORPORATE GOVERNANCE Hours
3
Pre-Requisite NONE Semester VIII
1. Apply theory to application, demonstrating an understanding
of the theoretical knowledge base of organizational behavior
2. Analyze how individual and group behaviors act as building
Objectives blocks to organizational behavior
3. Research and analyze aspects of organizational behavior
4. Analyze team behavior and its effect on productivity
5. Communicate and interact with team members

COURSE OUTLINE
SECTION – I
Introduction, Meaning / Understanding, Role / Functions of Corporate
Governance Practices / Culture, The corporate Governance Problem, The conflict
between managers and shareholders, Agency Theory: The implications of the
conflict, The Principal – Principal Conflict, Transparency and conflicts of
interest, Legal approach to corporate governance

SECTION - II
The Impact of Ownership Structure; Ownership and agency theory; Institutional
ownership; Inside Ownership; Family Ownership; Pyramidal Ownership and
Business Groups; Enlarging the Stakeholder Perspective; Scope of Corporate
Governance

Key Issues of CG including Financial Reporting, Directors Remuneration,

Company-Stakeholders Relations, Risk Management and Communication

Approaches to CG including Shareholders Approach, Enlightened Shareholders

Approach, Integrated/Pluralist Approach and Any other
SECTION - III
Different Board Types: The Good, Bad, and Ugly
Responsibilities of the Board including The Oversight Function, The Directional
Functions, The Advisory Function and Any other

Classification of Directors: Executive and Non-executive / Independent Director;

Responsibilities of CEO & Senior Management; Resolving the Agency Problem;
Board of directors; and Executive Compensation
SECTION - IV
Corporate Governance – Broader Issues
104
Additional Influences on Corporate Governance
Convergence & divergence – Issues in Corporate Governance
Convergence across corporate governance systems: an interest group theory of
financial development
Moral Hazard and performance incentives
Any other Issue / Topic / Case / Dimension

SECTION - V
Ethics and the Role of CG Officer

Reputation and Reputational Risk; Ethics and Code of Ethics; Corporate Social
Responsibility; CSR and Reputation Risk; Shades of CSR
Formulating CSR Policy
a) CSR Policy
b) Bench Marking in CSR
c) Sustainability Report
Whistleblowers
d) WB – Best Practice
e) Disclosure
f) Recommended Guide on WB
g) CG Officer
SECTION - VI

Real World Corporate Governance Cases – Domestic and International

Recommended Text Books:

1. Companies Ordinance 1984 issued by SECP
2. Code of Corporate Governance, 2013 or Latest, issued by SECP
3. Corporate Governance, Latest Edition, Christine A. Mallin, Oxford University
Press
4. Corporate Governance and Chairmanship a personal view by Adrian Cadbury by
Oxford University Press

105
 Credit
Course INTERNATIONAL BUSINESS Hours
3
Pre-
Introduction to Business Semester VIII
Requisite
Understanding the historical, social, cultural and political
influences shaping national and international systems and on
understanding the effects of such influences on international
political and commercial events.

Specifically, we will look at national and international political

influences on economies, the economic foundation of markets,
the cultural fabric holding business systems together, and the
technological and other forces pulling them apart.
Objectives
Students will see how these concepts apply in the context of
real business world through the study of how fundamental
government, society, business and technological changes
affect different industry segments and MNCs.
Students will come to understand how and why firms in
different industries choose different organizational
modalities (FDI, Licensing, Joint Ventures, and Strategic
Alliances etc) in different parts of the world to gain and
maintain competitive advantage.

COURSE OUTLINE
1. INTRODUCTION
Concept and Meaning of international business; The Nature and Importance
(why) of doing business internationally; The challenges of International
Business; Process of internationalization, a multinational enterprise VS
international enterprise; Globalization and forces driving globalization; Modes
of operations in international business; major differences between
international business and domestic business.

2. BROAD ENVIRONMENTAL ANALYSIS i.e. PESTEL

Concept and Meaning of PESTEL and need to go through it; Political economy
and its implications in business; International political and governmental issues;
international culture (social, religious, demographic etc.) and its implications in
business; international economic environment and its implications in business;
international ecology and its implications in business; international legislative
environment and agencies, and its implications in business; international
106
 technological (both production and information) environment and its implications
in business; Ethics, CSR and international Business.
3. THEORIES, MODELS AND INSTITUTIONS: TRADE AND
INVESTMENT
International trade theories; Laissez-faire VS Interventionist Approaches to
Export; Theories of trade patterns; Free trade theories; Factors-mobility theory;
Contemporary theories; Trade agreements, economic integrations, Strategic
alliances, Acquisition, Mergers etc.; Hofstede Model.

4. GLOBAL FINANCIAL SYTEMS (INTERNATIONAL MONETARY

SYSTEMS)
International monetary system (Exchange rate determination) – meanings, features
and components; Classification of International monetary systems – Bimetallism,
gold standard, interwar period, Bretton Woods System/Reforms, flexible system
regime and contemporary systems, practices and structures;
5. FOREIGN DIRECT INVESTMENT
Foreign Direct Investment – meanings, factors and reasons; Balance of
Payments; Balance of Trade;
6. FOREIGN EXCHANGE MARKET
Foreign Exchange Market – meanings and factors; Major Foreign Exchange
Markets; the determinants of Foreign Exchange Rates; the role of IMF; Exchange
rate arrangements; business implications of exchange rate changes; Exchange rate
in practices and financial crisis:
7. GLOBAL STRATEGY AND STRUCTURE, COUNTRY EVALUATION
AND SELECTION
Industry, strategy and firm performance; the firm as value chain; types of
strategies; country comparison tools and techniques, and the respective selection;
export and import strategies; Global Marketing Strategy; Global Operations
Management; Human Resource Management Strategy; Entrepreneurship; The
Globalization of Technology; international financial regulatory bodies/institutions.
8. GLOBAL DIVERSIFIED BUSINESS SCENARIOS
Doing Business in Europe; Doing Business in North America; Doing Business in
Asia (Particular focus on China, India and Pakistan)

Domestic and International Case Studies w.r.t. any of the above-mentioned

perspective should form integral part of the course.

Recommended Text:
1. International Business, Environment and Operations, by John D. Daniels, Lee H.
Radebaugh, Daniel P. Sullivan and Prashant Salwan – Latest Edition
2. Rugman & Hodgetts. (Latest Edition), International Business, A strategic
management approach, McGraw-Hill.
107