1. The Basic Structure of Accounting. Definition & nature of Accounting, Functions of Accounting, Objectives of Accounting, Users of
Accounting Information, Scope of Accounting, Accounting Bases and Policies, Accounting as the Language of Business, Role of
Accounting, Limitations of Accounting, The Systems Approach to Accounting, Relation of accounting with other disciplines.
2. The History and Evolution of Accounting Thoughts: The Pre-Christian Era, The Rise of the Double-Entry System, The Sombart
Propositions, Accounting in Its Ace of Stagnation, The Industrial Revolution and The English Companies Acts.
3. The Accounting Model Theory and Practice Valuation in Accounting Management. Early Attempts at Accounting Theory, The Problem of
Classification, The Basic Equation, International Chart of Accounts, Investment Model, Limitations of The Traditional Model, Development of
Accounting Theory, Contribution of Accounting Literature in the Development of Accounting Theory, Major Schools of Accounting.
4. Approaches to Accounting Theory: The Process of Theory Construction, Characteristics of a Good Theory, Limitations of Accounting
5. Accounting Postulates, Concepts and Principles: Accounting Principles, Fundamental Concepts of Accounting, Accounting Postulates,
Generally Accepted Accounting Principles (GAAP).
6. Income Concepts: Different Concepts of Income Measurement, Edwards and Bell's Concept of Business Income, Operating and Non-
7. Revenues, Expenses, Gains and Losses: Revenue Recognition and Realization Principle, Effects of Uncertainties on Revenue
Recognition, Measurement of Revenue, Scope, Measurement & recognition of Expenses, Gains and Losses, Recognition of an Item in
8. Valuation of Assets Liabilities & Equity: Valuation of Fixed, Current and Intangible Assets, Accounting Standard-10 & 13: Accounting for
Fixed Assets and Investments. Current and Non-Current Distinctions, Nature of ownership equities, Transactions and Events that Change
Equity, Theories of Equity.
9. International Accounting Standards as adopted in Pakistan.
FINAL TERM PROJECT:
A project related to real life practice of Organization life is given to students. A group of 4 to 5 students work together and submit final report thereof.
The focus of this course is on the specific skills required for the practice of advanced accounting to achieve good results. To broaden the appeal of understanding advanced accounting and management of business and to give those, who opt for a mainstream accounting career, an understanding of these areas thereby making them more effective and multi-skilled accounting persons.
Course Learning Outcomes
After completion of this course, the student will be enabled to:
• Understand the role and importance of basic structure of accounting.
• Have a framework for making an effective and planned system of Accounting and controls.
• Understand the Model-Theory and practice-valuation in Accounting Management.
• Develop understanding about Accounting Standards as adopted in Pakistan.
The Basic Structure of Accounting
The Basic Structure of Accounting (Contd.)
History and Evolution of Accounting Thoughts
The Accounting Model Theory
The Process of Theory Construction
Approaches to Accounting Theory
Accounting Postulates, Concepts & Principles
Recognition & Measurement
Different Concepts of Income Measurement
Recognition of Revenues & Expenses
Recognition of Gains and Losses
Valuation of Assets & Liabilities
International Accounting Standards
International Financial Reporting Standards
Emerging Issues in Reporting Standards
International Accounting Standards in Pakistan
Accounting Practice (Peachtree Software)
Book Title : Accounting Theory
Author : Rohtak
Edition : Latest Edition
Publisher : Maharshi Dayanand University, ROHTAK
Book Title : Advanced Accounting: Theory & Practice
Author : R. Jayaprakash Reddy
Edition : Latest Edition
Publisher : APH Publishing Corporation
Title : History and Evolution of Accounting Thoughts
Type : Other
View History and Evolution of Accounting Thoughts