ACCA/CA Pakistan 1-Year Plan

Fundamental accounting principles including going concern, consistency, materiality, and matching concepts that form the foundation of financial reporting.

Practice of recording financial transactions in double-entry bookkeeping system using debits and credits in the journal.

Transferring entries from journal to respective ledger accounts and balancing them to prepare trial balance.

Preparation of trial balance to verify arithmetic accuracy of ledger postings before preparing financial statements.

Calculation of depreciation using straight-line, diminishing balance, and sum-of-years digits methods for fixed assets.

Preparation of Income Statement, Balance Sheet, and Cash Flow Statement from trial balance data.

Accounting for share capital, debentures, reserves, and preparation of company financial statements.

Accounting treatment for issuance of shares at par, premium, and discount, as well as debenture issuance and redemption.

Overview of Pakistan Income Tax Ordinance 2001, its scope, definitions, and key provisions governing taxation.

Classification of income under heads: Salary, Rental Income, Business Income, Capital Gains, and Other Sources.

Taxation of salary income including exemptions, allowances, perquisites, and calculation of taxable salary.

Tax treatment of business income, allowable deductions, disallowances, and computation of business taxable income.

Taxation of capital gains from disposal of capital assets, holding period, and applicable tax rates.

Rental income taxation, allowable expenses, and tax implications for landlords.

Concepts of sales tax, GST, federal excise duty, registration requirements, and input tax adjustment.

TDS mechanisms, rates for various payments, obligations of withholder and deductee.

Fundamental auditing concepts, generally accepted auditing standards, ethics, and professional responsibilities of auditors.

Audit planning process, risk assessment, materiality determination, and development of audit program.

Techniques for gathering sufficient appropriate audit evidence including inspection, observation, inquiry, and confirmation.

Evaluation of internal control systems, understanding control environment, and testing controls for effectiveness.

Verification of cash in hand, bank balances, bank reconciliations, and cutoff procedures.

Verification of trade debtors, sundry debtors, stock observation, and inventory valuation methods.

Verification of owned and leased fixed assets, depreciation verification, and impairment assessment.

Types of audit reports: unqualified, qualified, adverse, disclaimer; components of audit opinion.

IFRS adoption in Pakistan, conceptual framework for financial reporting, and objectives of financial statements.

Preparation and presentation of Balance Sheet as per IAS 1, including classification of assets and liabilities.

Preparation of Income Statement using single and multi-step formats, and presentation of other comprehensive income.

Recognition, measurement, depreciation, and disclosure requirements for PPE under IAS 16.

Recognition, initial measurement, amortization, and impairment of intangible assets under IAS 38.

Accounting for current and deferred tax, recognition of temporary differences.

Preparation of cash flow statement using direct and indirect methods.

Horizontal and vertical analysis, ratio analysis, and interpretation of financial statements.