Professional Documents
Culture Documents
COMMERCE
FOR
B.COM., M.COM. & M.Phil.
(Revised 2004)
HIGHER
EDUCATION
ISSION COMM
CONTENTS
1. 2. Introduction Curriculum for B.Com. i) Scheme of Studies ii) Details of Courses Curriculum for M.Com. i) Scheme of Studies ii) Details of Courses iii) Fields of Concentration Curriculum for M.Phil . Recommendations 7 10 10 11 24 24 26 35 48 49
3.
4. 5.
PREFACE
Curriculum of a subject is said to be the throbbing pulse of a nation. By looking at the curriculum of a subject, one can judge the state of intellectual development and the state of progress of a nation. The world has turned into a global village, new ideas and information are pouring in a constant stream. It is, therefore, imperative to update our curricula by introducing the recent developments in the relevant fields of knowledge. In exercise of the powers conferred by Sub-section (1) of section 3 of the Federal Supervision of Curricula Textbooks and Maintenance of Standards of Education Act 1976, the Federal Government vide Notification No.D773/76-JEA (Cur.), dated December 4, 1976, appointed Higher Education Commission as the Competent Authority to look after the Curriculum Revision Work beyond Class XII at Bachelor level and onwards to all Degrees, Certificates and Diplomas awarded by Degree Colleges, Universities and other Institutions of higher education. In pursuance of the above decisions and directives, the Commission is continually performing curriculum revision in collaboration with the Universities. According to the decision of the special meeting of Vice-Chancellors Committee, curriculum of a subject must be reviewed after every 3 years. For the purpose, various Committees are constituted at the national level comprising senior teachers nominated by the Universities. Teachers from local degree colleges and experts from user organizations, where required, are also included in these Committees. The National Curriculum Revision Committee on Commerce in its meeting held in May 2004 at the HEC Regional Centre, Lahore finalized the draft curriculum after due consideration of the comments and suggestions received from the Universities and Colleges where the subject under consideration is taught. The Final draft prepared by the National Curriculum Revision Committee duly approved by Competent Authority is being circulated for implementation by the Universities.
CURRICULUM DEVELOPMENT
STAGE-I STAGE-II STAGE-III STAGE-IV
FINAL STAGE
FOLLOW UP STUDY
COLLECTION OF REC
QUESTIONNAIRE
CONS. OF CRC.
COMMENTS
PRINTING OF CURRI.
REVIEW
Abbreviations Used:
CRC. VCC. EXP. COL. UNI. REC. Curriculum Revision Committee Vice-Chancellors Committee Experts Colleges Universities Recommendations
IMPLE. OF CURRI.
BACK TO STAGE-I
PREP. Preparation
ORIENTATION COURSES
INTRODUCTION
A meeting of the National Curriculum Revision Committee constituted by the Commission comprising senior teachers of Commerce from the universities, Colleges and user organizations to revise the existing curriculum of B.Com., M.Com. & M.Phil. classes was held at HEC Regional Centre, Lahore from January 12-14, 2004 and subsequently on May 4-6, 2004. The following attended the meeting: 1. Dr. Anwar Ali Shah G. Syed Dean, Faculty of Commerce & Business Administration University of Sindh Jamshoro Mrs. Dilshad Zafar Associate Professor/Chairperson Department of Commerce University of Karachi Karachi Dr. Muhammad Nishat Professor & Chairman IBA, University of Karachi Karachi Mr. Mumtaz Ahmed Khan Chairman, Deptt. of Business Administration Muhammad Ali Jinnah University Karachi Dr. Rukhsana Kalim Institute of Management & Technology 11-Aibak Block, New Garden Town Lahore Mr. Ather Azim, Dean of Commerce, University of Central Punjab 9-Canal Bank, Ferozepur Road Lahore Dr. Muhammad Hanif Akhtar Chairman, Deptt. Of Commerce B.Z. University Multan Mr. Sher Kamal, Assistant Professor Department of Commerce and Business Administration Gomal University D.I. Khan Mr. Zahid Ali Lecturer Department of Commerce Islamia University Bahawalpur
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Convener
2.
Member
3.
Member
4.
Member
5.
Member
6.
Member
7.
Member
8.
Member
9.
Member
10.
Mr. Kashif Hamid Boparai Lecturer Deptt. of Business & Management Sciences University of Agriculture Faisalabad Mr. Amir Shah Asstt. Prof. Deptt. Of Commerce Allama Iqbal Open University Islamabad Prof. Dr. Ghulam Ghous Dean University College of Administrative Sciences Kotli, Azad Kashmir Mr. Shahid Nafees Senior Vice-President & Principal Instt. Of Management Development Habib Bank Limited Lahore Mr. Faiz Rasul Deputy Director Export Promotion Bureau Lahore Mr. Muhammad Mansoor Ali Head of Research State Bank of Pakistan Karachi Mr. Dilshad Hassan Siddiqi AVP Management Development Institute Habib Bank Limited Lahore Shah Muhammad Luhrani Dean, Faculty of Commerce and Business Administration Shah Abdul Latif University Khairpur Prof. Ch. Nazir Ahmad Principal Hailey College of Commerce University of the Punjab Lahore.
Member
11.
Member
12.
Member
13.
Member
14.
Member
15.
Member
16.
Member
17.
Member
18.
Member/Secretary
The different sessions of the meeting started with recitation from Holy Quran. Mr. Muhammad Riaz Cheema, Director, HEC, Regional Centre, Lahore welcomed the participants on behalf of the Chairman, Higher Education Commission. He stressed upon the need for periodical review of the courses of reading in commerce to meet the needs of changing environments of business and commerce. Miss Ghayyur Fatima, Deputy Director, Curriculum Division, HEC, Islamabad briefed the meeting about the responsibility of the Higher Education Commission, for revision of curricula of all subjects taught at graduate and post-graduate level in the Universities and affiliated Colleges in the country and Azad Jammu & Kashmir. She also gave a brief description with introduction of curriculum procedure for revising/ developing the curriculum of a subject. She said that the Curriculum of Commerce was revised in 2001 so there was a great need to revise the subject to incorporate the latest trend in the field. Then the session was opened for general discussion. The Committee unanimously elected Dr. Anwar Ali Shah G. Syed, Dean, Faculty of Commerce & Business Administration, University of Sindh, Jamshoro as Convener and Prof. Ch. Nazir Ahmad, Principal, Hailey College of Commerce, University of the Punjab, Lahore as Secretary of the Committee. Each meeting lasted for 3 days. Thorough deliberations were made and all the members took active part in reviewing the syllabi. The duplications were eliminated and cascade course outlines were prepared. The Committee acknowledged and appreciated the valuable comments on the draft proposals of the Curriculum received by HEC from Atif Mian, Assistant Professor, Graduate School of Business, University of Chicago, USA. At the end of the meeting, the Convener Prof. Dr. Anwar Ali Shah G. Syed expressed his deepest satisfaction in respect of the work completed and thanked all the participants for it. He also expressed special thanks to the representatives from SBP, HBL and EPB for sparing their valuable time to attend this meeting. He also expressed thanks to Miss Ghayyur Fatima, Deputy Director, Curriculum Division, HEC, Islamabad for her coordination efforts in making the meeting successful. The curriculum revised by the National Curriculum Revision Committee is as Annex-A
SCHEME OF STUDIES
Proposed Syllabi and Courses of Reading of B.Com. (Two Years Pass Course) Part-I and Part-II Examination.
B.Com. Part-I
i. ii. iii. iv. v. vi. vii. viii. Principles of Accounting Business Statistics and Mathematics Economics Introduction to Business Banking & Finance Functional English Computer Applications Islamic Studies (Ethical Behaviour in lieu of Islamic Studies for Non-Muslim students). Total
Marks
100 100 100 100 100 100 100 50
750
B.Com. Part-II
i. ii. iii. iv. v. vi. vii. viii. Advanced Accounting Cost Accounting Business Taxation. Business Law Auditing Economics of Pakistan Business Communication Pakistan Studies Total
10
Marks
100 100 100 100 100 100 100 50 750
Principles of Accounting
Introduction to Accounting. Basic accounting terminologies. Accounting cycle. Accounting Equation (Balance Sheet Concept). Recording the business transactions: Vouchers, Journal, Ledger and Trial Balance. Subsidiary Ledgers for sales, purchases, cash, banking transactions, Bank Reconciliation. Depreciation Methods and Accounting Treatment. The periodical adjustment and closing process of accruals, deferrals, inventory, depreciation, uncollectible and correction of errors. Capital and Revenue. Provision and Reserve. The Worksheet, Financial Statements, Income Statement, and Balance Sheet, Cash Flow Statement (Direct Method) Statement of owners equity. Partnership Accounts Formation. Admission, Retirement, Death, Dissolution. Accounting for Non-trading concerns & their Financial Statements. Incomplete records, single entry system. Consignments and joint ventures.
6.
7. 8. 9. 10.
PAPER-II
1. 2.
Section 1.01
3. 4. 5.
Simple Correlation and Regression. Lines of Regression. Method of least square and curve fitting with application to Business. Index Numbers: Kinds of Index numbers with special emphasis to consumer price Index numbers. Basic Probability: theory. Definition. Laws of Probability. Conditional Probability. Independent and Dependent events; Application in Business. Random Variables: Introduction, Discrete and Continuous Random variables. Probability function. Expected values of Random variables. Tests of significance: Introduction, Tests for means and proportions for single and two population.
6. 7.
Section 1.02
1. 2. 3. 4. 5.
MATHEMATICS
Solution of Simultaneous equation. Solution of quadratic equation, sequence Series and Progression, Applications. Arithmetic & Geometric and their application in Business. matrices and determinants: Addition, Subtraction and Multiplication of Matrices, Expansion of Determinants, Inverse of a matrix, Use of matrices in the solution of system of linear equations. Differential Calculus Differentiation of functions. Partial differentiation. Application of derivatives in Business/Commerce, Optimization.
PAPER-III
1.
ECONOMICS
Introduction: Definition, Nature, Scope and Importance (Micro and Macro Economics) Description, Analysis and Policy: Economic Methodology. Consumer Behaviour: Definition and meaning, Marginal Utility: Law of Diminishing Marginal Utility Consumer's Surplus Indifference curve approach. Demand: Definition, Laws of Demand, Changes in Demand, Elasticity of Demand and its measurement. Supply: Supply, Changes in supply, Demand and Supply Relationship.
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2.
3. 4.
5. 6.
7. 8.
9. 10.
17.
Equilibrium Analysis. Production: Concept of Factor of Production, Land Labour, Capital & Entrepreneur. Laws of Returns and their application to Agriculture Sector. Costs: Costs over time period Fixed, Variable, Total, Average and Marginal. Market: Perfect and Imperfect Competition. Price and output determination under perfect and Imperfect competition. Market price and Normal price. Monopoly, Oligopoly, Duopoly and Price Control. (Basic Concepts). Factor Pricing: Rent, Wages, Interest and Profit. National Income: Concepts of National Income-GNP, Circular flow of national Income. Measurement of National Income: National Income at market price, at factor Cost; Measurement of national Product in current price and in constant prices. Money: Evolution, Forms, Functions, Importance and Role of Money. Value of Money: Quantity Theory of Money, Cash Balance Theory of Money, Measurement of Value of Money, Devaluation of Money. Trade Cycle: Phases, Causes & Remedies, Theory of Trade Cycles. Inflation: Kinds, Causes, & Remedies. Balance of Payments: Balance of Trade, Balance of Payments, Causes of Disequilibrium and Measures. Public Finance: Meaning, Difference between Private and Public Finance, Income and Expenditure of Public Bodies, Kinds of Taxes and Cannons of Taxes. Economics in Islam: Economic role of State in Islam, Zakat and Ushr.
PAPER-IV
1. 2. 3.
INTRODUCTION TO BUSINESS
Business: Meaning, Nature, Scope and Importance. Problems, Functions and Qualities of a Businessman, Types of Businesses. Sole Proprietorship: Features, Importance, Merits and Demerits. Partnership: Features, Merits and Demerits, Co-ownership Vs. Partnership; Classification of Partners; Rights, Duties and Liabilities of Partners, Dissolution of Partnership.
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4.
Joint Stock Company: Features, Merits and Demerits, Formation, Memorandum of Association; Articles of Association, Prospectus, Capital, Management, Meetings, Winding up. Cooperative Society: Features, Kinds, Merits and Demerits. Combination: Meaning, Causes and Purposes, Advantages and Disadvantages. Types of Combination. Forms of Combination. Trade: Wholesales, Retail, Import and Export. Export Promotion Bureau and its role. Marketing Operation: Definition, Functions, Scope Advantage and Disadvantage, Marketing Versus Selling. Channels of Distribution: Meaning, Functions, Kinds, Selection of Channels, Advantages. Sales Promotion: Meaning, Objects and Methods. Advertising: Meaning, Objects, Types, Merits and Demerits Advertising Media. Warehousing: Definition, Functions, Kinds. Business Risk: Definition, Types, Methods of Handling Risk. Insurance: Meaning, Principles, Kinds (Life, Fire, Marine) Importance. Management: Definition, Basic Functions and Management.
PAPERV 1. 2. 3. 4.
BANKING & FINANCE Introduction: Evolution, Kinds of Banks & their features. Non-Banking Financial Institutions. Commercial Bank: Importance and their Role in Economy Functions. Bank Accounts: Current, PLS, Term Deposit, Foreign Currency Accounts. Banker Customers Relationship. Bank Advances: Running Finance, Cash Finance, Demand Finance, Term Finance, Discounting of Bills, Purchase of Bills, Principles of Advances, Securities, Modes of Lending, Trade Financing.
14
5. 6. 7. 8. 9. 10.
Letter of Credits: Kinds, Operation, Advantages. Central Bank: Functions, Role, Monitory Policies, State Bank of Pakistan, Functions and Role. Banking in Pakistan: Brief History, Nationalization, Privatization, ADBP, IDBP, DFIs PICIC, SME. Islamic Banking: Principles, Functions, Islamic Modes of Finance. Finance: Definition, Components, Kinds and Sources, their advantages and disadvantages, Lease Finance, Time value of Money. International Monitory System: IMF, IBRD, Asian Development Bank, Islamic Development Bank.
PAPER VI:
1. 2.
FUNCTIONAL ENGLISH
Vocabulary: Antonyms, Synonyms, Homonyms, One word Substitution. Practical Grammar Sentence Structure: types of sentences based on function e.g. Interrogative sentences, based on structure e.g. Simple, Compound complex, Transformation, Inversion sentences, Parts of a Sentence subject, predicate, complements, direct indirect Objective, Rules for structuring sentences, Phrases types and functions, Clauses types and functions. Parts of Speech: Major word classes, Nouns with further classifications (regular, countable; uncountable; singular; plural), Pronouns with further classifications, Verbs emphasis on three forms of verbs, Adjectives with further classification three degrees of comparison, Adverbs with further classifications. Minor word classes: Preposition, Conjunctions with further classifications, Interjections, Auxiliary verbs, Determiners, Infinitive, Participle, Gerund, Genitives types and functions. Tenses Types, Structure, Function, Conversion into negative and interrogative. Active and Passive voice. Direct and Indirect speech. Articles: Definite, Indefinite. Composition and comprehension Prcis Writing, Essay Writing.
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3.
4. 5. 6. 7. 8.
PAPER-VII
1.
2.
3. 4. 5. 6.
4. Nuqoosh Software Learner, Short & Simple Guide: Find what you need fast, Nuqoosh, Lahore. 5. Robert A Szmaski, Introduction to Computer & Information System. 6. Raymond McLeod Jr. Management Information System, (International Edition). 7. Richard D Irwin, Computer Information System.
PAPER-VIII
ISLAMIC STUDIES
OR
Islamic Studies as for B.A/B.Sc. Examination. Ethical Behaviour (in lieu of Islamic Studies for Non-Muslim Students).
1. Meaning and Scope of Ethics, Relation of Ethics with: a) Religion b) Science c) law 2. Historical Development of Morality: a. Instinctive Moral Life b. Customary Morality c. Reflective Morality 3. Moral Theories: a. Hedonism (Mill) b. Intuitionism (Butler) c. Kants Moral Theory 4. Moral Ethics and Society: a. b. c. d. 5. Freedom and Responsibility. Tolerance Justice Punishment (Theories of Punishment)
6.
7.
17
B.COM. (Part-II)
PAPER-I
1. 2. 3. 4. 5. 6. 7. 8. 9.
ADVANCED ACCOUNTING
Company Accounts, Issue of Shares, Bonds, over subscription, Refund, Underwriting, Issue of Bonus and right shares. Preparation of final accounts under Companies Ordinance 1984. Dividends and other payment thereof, Cash Flow Statement. Appropriations, EPS. Ratio Analysis Liquidity, Turnover coverage, leverage & profitability. Branch accounts. Departmental Accounts. Accounting for Leasing, Hire Purchase, Instalment Sales. Mergers, acquisitions and changes in financial structures, Business Combination. Valuation of Goodwill and Shares, Consolidation, Liquidation of Joint Stock Companies. Contract Accounts.
PAPER-II
COST ACCOUNTING
1. Meaning, need and importance of Cost Accounting. Distinction between Cost & Financial Accounting. 2. Elements of Cost; Cost Classification and Costing systems; Cost Accounting Cycle & Costing Techniques & Methods. 3. Voucher system and Control Accounts, Factory and General Office books. 4. Job Order Costing and its Cycle. 5. Process Costing; Including treatment of addition of material in a subsequent Department and Opening WIP inventories. 6. Material Costing and Control; Variance Analysis. 7. Labour costs Accounting and Incentive Wage Plans.
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8. Factory Overhead Costing, Accumulation, Application and Departmentalization including two variance analysis, Introduction to Activity Based Costing.
PAPERIII
BUSINESS TAXATION
History of Income Taxation in Pakistan. Taxation structure and Administration in Pakistan. Income Tax Law. Tax Authorities, Appeal Procedure Income Tax Problems of Individuals. Partnership and Joint Stock Companies. Basic Features of Sales Tax, Assessment procedure of individuals, partnership and joint stock company. General Review of Customs Act. & Excise Act.
PAPER-IV
BUSINESS LAW
Introduction of Law Sources of Business Law Law of Contract, Definitions. Formation of contract. Essentials of a Valid Contract. Performance of Contract. Discharge of Contract. Breach of Contract: Law Governing Indemnity, Guarantee, Bailment and Agency. Sale of Goods Act Definition. Types of Contract of sales. Conditions and Warranties effects of the contract of sales. Performance of the contract. Rights of Unpaid seller.
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Partnership Act Definition of Partnership. Essential Elements of Partnership. Registration of Firms. Classes of Partners, Rights and duties of partners. Dissolution of partnership. Negotiable Instruments Act Definitions, Characteristics and Types of Negotiable Instruments. Negotiation, Crossing & its Types Endorsement. Liabilities of parties. Discharge from Liability. Carriage of Goods Common Carrier. Essentials of a Common Carrier, Rights, and Duties of a common Carrier. Restricted Liability of Railway Carriage as common carriage and by Sea. Industrial Law Laws relating to Factories, Workmen Compensation and Industrial Relations Ordinance, Social Security, Payment of Wages.
PAPER-V
AUDITING
Introduction: Definition Scope and Objectives. Internal Control: Internal Check, Internal Audit, Working of Internal Control in various departments. External Audit: Continuous, Final and Interim audit. Audit Programme, Audit Working Paper, Audit Note Book. Vouching: Audit techniques and applications. Verifications: Verification of Assets and Liabilities. Auditor: Appointment, rights, duties and liabilities.
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Audit Report: Statutory, Prospectus, Annual, Unqualified and Qualified report. Divisible Profit: Divisible Profit and Auditor duties in this respect. Specialized Audit: Audit of Textile Mills, Sugar Mill, Bank, Newspaper and Hotel. Audit of Computerized Accounting Record: Computer Assisted audit techniques. Investigation: Meaning, difference with audit, Detection of Frauds.
PAPER-VI
1. 2. 3. 4.
ECONOMICS OF PAKISTAN
Economic Resources of Pakistan. Mineral, power, water, forest and Human resources. Influence of resources on economic and social development. Resource Development in Pakistan. Composition of Pakistan Economy. Agricultural Sector. Main products. Food problems, Price of Agricultural products and Government policies, collective and cooperative Farming; Agricultural Finance: Problems and Remedies; Marketing of Agricultural products and problems related thereto. Industrial Sector. Present position and prospect. Industrial finance and financial Institutions; Localization of Industries; Private and Public Investment; Large Scale, Small Scale, and Cottage Industries, SMEDA, Marketing of Industrial Products. Trade and Globalization. Main Exports and Imports; trends in foreign trade and Balance of payments; regionalism and WTO. Transport and Communication Sector. Development of means of Transport and Communication and their role in economic development. Fiscal and Monetary Policy. Poverty Alleviation, unemployment and Debt Issues. Economic Planning and Budgeting.
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5.
6. 7. 8. 9. 10.
PAPER-VII
1. 2.
BUSINESS COMMUNICATION
Importance of Business Communication: Introduction, Importance. The Process of communication and Miscommunication: Elements of communication, General Communication, Concepts and Problems, Nonverbal Communication. Principles of Business communication: Completeness, Conciseness Consideration, Concreteness, Clarity, Courtesy, Correctness. Process of Preparing effective business messages: Steps in planning effective business messages, Basic organizational plans, Beginning and endings, composition of the message. Direct Requests: Organizational plan, enquires, Claims and requests for adjustments, request letters regarding routine business, Invitations, Orders, Reservations. Good news and Neutral Messages: Favourable replies to the request. Bad news messages: The right attitude, Plan for bad news messages, Unfavourable replies to request. Sales Letters: Solicited sales letter, Unsolicited sales letter. Collection Messages: Right attitude for effective collections, Collection stages. Official letters: Parts and composition. Letters, memos, Electronic mail. Business Reports: Meaning and classification, Main parts of the report, organizational and outline of report. Market Reports: Definition, Scope, Importance, Contents, Market Terms. Job Applications, Resume. Successful oral Presentation and Successful Listening: Presentation Description and Methodology, Listening Description. Successful Informative Speaking: Purpose, Kinds, Organization and Outlines of the Informative Speech.
3. 4.
5.
22
PAPERVIII
PAKISTAN STUDIES
23
SCHEME OF STUDIES
First Semester
1. 2. 3. 4. 5. Principles of Management Principles of Marketing Quantitative Techniques in Business Managerial Economics Financial Accounting
Second Semester
1. 2. 3. 4. 5. Research Methods in Business. Advanced Cost and Management Accounting Organizational Behaviour. Financial Management Management Information System (MIS)
Third Semester
1. 2. 3. 4. 5. Human Resources Management. International Business E-Commerce Elective-I Elective-II
Fourth Semester
1. 2. 3. 4. 5. Operations and Production Management Strategic Management Corporate Law Elective-III Elective-IV 6-8 Weeks Internship report/Research Project and Viva Voce shall also be requirement for award of M.Com. Degree.
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FIELDS OF CONCENTRATION 1. Accounting a. b. c. d. e. 2. Advanced Accounting Theory and Practice Public Sector Accounting Advanced Auditing Cost Accounting Applications Special topic in Accounting can be adopted by the concerned Board of Studies.
Finance a. b. c. d. e. f. g. h. Portfolio Management Islamic Finance Corporate Finance Project Management Specialized Financial Institutions International Finance Treasury & Fund Management Security Analysis
3.
Marketing a. b. c. d. e. f. International Marketing Marketing Management Retail Management Marketing Communication Marketing Research Hotel and Restaurant Management
4.
Banking a. b. c. d. e. Banking Laws & Practice International Banking Treasury & Fund Management Regulations for Financial Institutions Marketing of Financial Services
25
26
3.
1) DESCRIPTIVE STATISTICS RECAPITULATION a. b. c. Averages Variances Normal Distribution d. e. f. Interpolation Projection Methods Maximum, Minimum
Inferential Statistics
a. b. c. d. e. f. Basic concepts of probability theory Statistical prediction (Linear correlation and regression Index Nos. Time series Analysis Moments skewness and control kurtosis Sampling Theory g. h. i. j. k. l. Sampling Design Sampling Surveys Estimation Test of Significance Test and distributions Statistical Quality Control
(ii) Mathematics
a. b. c. d. Basic Algebra Solution of Linear Equations Elementary Permutations and Programming. Fundamentals of Differential and Integral calculus e. f. g. Maxima and Minima Matrices for Beginners Simple Linear combination
27
4.
MANAGERIAL ECONOMICS
Introduction: Basis of Economics, Consumer's Behaviour-Demand, Elasticity of Demand & its application Concepts for Decision-Making, Demand Estimation, Forecasting simplex method Production and Cost Theory. Cost Concepts for Decision-Making, Risk analysis, Cost Estimation and forecasting; Basic Pricing Theory, Game Theory, Market Structure, Pricing Decision for established and new products, Competitive bids.
5.
FINANCIAL ACCOUNTING
Financial Accounting framework Job & responsibility of a Financial Accountant Presentation of financial statements - P & L/Income Statement - Balance Sheet - Cash flow - Owners equity Role of financial accountant in auditing Internal control systems Accounting of income taxes Lease accounting complete overview and calculation. Fixed Assets schedules and related discussion Depreciation, amortization, direct write off, owned and leased assets. Employee benefits & retirement plans. Borrowing costs. Provisions & Contingencies Intangibles Computerized Accounting A comprehensive software. Annual report, Formation.
SECOND SEMESTER
1. RESEARCH METHODS IN BUSINESS
Research and Management, The Research Process, Research Design Classification of Design, Research Proposal, Development of Research Plan, Outline, Measurements, Empirical Identification Collection Primary Data Sources, Secondary Data Sources, Observation, Constructing a Questionnaire. Sampling The Mail Questionnaire, Scaling Techniques Social Distance, Analysis of Data, Statistical Analysis (SPSS, SAS) and Report Preparation.
2.
3.
ORGANIZATIONAL BEHAVIOUR
The Foundation for organizational behaviour Todays organizations: information technology, total quality and organizational learning. Contemporary challenges. Diversity and ethics A micro perspective of organizational behaviour Personality and attitudes Motivation needs, content, and processes Motivating performance through job design and goal setting Learning: processes, reward system, and behavioural management. Micro and macro dynamics of organizational behaviour Interactive conflict and negotiation skills Stress: causes, effects and coping strategies. Power and politics Leadership A macro perspective of organizational behaviour Decision making Organization theory and design The nature of organizational culture
4.
FINANCIAL MANAGEMENT
Nature, Scope and Importance of Financial Management. Risk & Return, leverages, Dividend Policy. Capital Structure, Cost of Capital, Capital Budgeting, Leasing, Merger, acquisitions. Financial Planning and Policy Sources of Finance: Internal and External: Short-term, Medium-term and Long-term. Working Capital Management. Financial Analysis and Control. Evaluation of long-term securities, Time value of money
5.
Foundation of Information System in Business Computer Software, Hardwires, Telecommunication and Network Organizations, Management, and the Networked Enterprises Competing with Information Technology Information Technology Infrastructure Inter Networked Business Enterprises Electronic Business System, Electronic Commerce System Data Processing and Data Resource Management, Database Management, Advanced Word Processing and Spread Sheets. Developing E-Business Strategies and Solutions. Designing, Programming and Implementation of Business Oriented Problems.
THIRD SEMESTER
1. HUMAN RESOURCES MANAGEMENT
Basic concepts, Functions of personnel management: Organizational structure of personnel management; Selection, Job description & specifications; manpower requirements; Human Resource Planning Selection Procedure; Interviewing; Counselling; tests; and merit rating; Training; Employee Placement; Performance & Appraisal, Employee Development including promotion; transfer and retirement; Grievances and their remedies Discipline and discharge; Remuneration-wage systems; incentives and compensation; Maintenance and integration of existing employees; Labour unions and collective bargaining with particular reference to Pakistan.
2.
INTERNATIONAL BUSINESS
International Business and Globalization The Cultural Environments Facing Business The Political and Legal Environments Facing Business The Economic Environments International Trade Theory & Government Influence on Trade Foreign Direct Investment, Motivations and Risk Dimensions The Determination of Exchange Rates Foreign Exchange Markets The Impact of the Multinational Enterprise The Strategy of International Business The Organization of International Business Entry Strategy and Strategic Alliances Exporting, Importing and Counter Trade Global Human Resource Management Financial Management in International Business
3.
1. 2. 3. 4. 5. 1.
E-COMMERCE
Introduction to E-Commerce, Definition of E-Commerce, Scope of ECommerce. Competition Analysis on the internet, understanding the forth channel, paradigms in the new economy. Business process re-engineering. Legal issues and ethics Global contracts. Marketing strategies on the Web, Attracting visitors on your site, virtual societies. One to one B2B, B2C marketing, Direct marketing. Choosing the right ISP. Payment via the Net. Structure of Web Page. HTML Tags, Paired Tags, Commonly Used HTML Commands, The structure of an HTML programme, Document Head, Document body, Title And Footers, Text Formatting Paragraphs Breaks, Line Breaks, Text Styles, Bold, Italic, Underline, Other Text Effects, Spacing (Indenting Text) Graphics in Web Documents, Web Formatting. Using the Border Attribute, Using the Width and Height Attribute, Using the Align Attribute, Using the ALT Attribute. Introduction to Tables, Header, Draw Rows, The Caption Tag, Using the Width and Border Attribute, Cell Padding, Cell Spacing, Col Span and Row Span Attributes.
32
Theoretical Portion
Practical Portion:
2.
3.
4.
5.
6.
7.
8.
9.
Linking Documents & Linking Frames. Links, External Document References, Internal Document References, Images as Hyperlinks, Image Maps Introduction to Frames, The frame Set tags, the frame Tags, Targeting Named Frames. Introduction to Programming Scripts. Java Script in Web Pages, Netscape, Internet Explorer and Java Script, Database Connectivity, Advantages of Java Script, Basic Programming Techniques. Electronic Mail Representation & Transferring. Introduction, The electronic mail paradigm, Electronic Mailboxes and Address, Electronic Mail message format, carbon copies, multipurpose internet mail extensions, e-mail and application programme. Mail transfer, the simple mail transfer protocol, optimizing for multiple recipients on a computer, mail exploders, lists, and forwarders, mail gateways, automated mailing lists, mail relays and e-mail addresses, mailbox access, dialup connections and POP. File Transfer. Introduction, Data Transfer and Distributed computation, Saving intermediate results, generalized file transfer, interactive and batch transfer paradigms, The file transfer protocol, FTP general model and user interface, FTP commands, connections, authorization, and file permissions. Remote file Access. Anonymous file access, file transfer in either direction, wildcard expansion in file names, file name translation, changing directories and listing contents, file types and transfer modes, use of FTP, verbose output, client-server interaction in FTP, control and data connections, data connections and end of file, trivial file transfer protocol, network file system. World Wide Web, WWW & HTML Introduction, Browser interface, hypertext and hypermedia, document representation HTML format and representation, HTML formatting tags, heading, lists, embedding graphic images in a web page, identifying a page, hypertext links from one document to another, client-server interaction, web document transport and HTTP, browser architecture, optional client, caching in web browsers. Project (case study).
BOOKS RECOMMENDED (Latest Editions) 1. Daniel Amore, E-Business. 2. Paul Trimmers Electronic Commerce. 3. Robert T-Plant E-Commerce, Formation Strategy.
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FOURTH SEMESTER
1. OPERATION AND PRODUCTION MANAGEMENT
Introduction to Operations and Production Management, General Functions of Operations and Production Management, Manufacturing and Service Organization, Long Range Planning-Product and Resource Planning, Factory Location, Layout Process Design; Medium Range Planning Forecasting Aggregate. Production and Resource Capacity Planning. Master Scheduling and Capacity Planning, Facility Layout, Work Design and Measurement; Short Range Planning-Independent Demand Inventory, Material requirement, Capacity requirement; Execution and Control, Operation Management Policy and Strategy. Standardization, Simplification. Industrial Development in Pakistan.
2.
STRATEGIC MANAGEMENT
The Top-management view point, Seizing up situation, formulating policies and planning programmes of action, Organizing Administrative Personnel and putting plans into action Implementing policy strategy. Control day-to-day administrative problems, Follow up and appraisal. Nature and Importance of Business Policy/Strategy. Managerial & Organizational Style. Strategic Management Elements. Environmental Analysis and Diagnosis. Considering strategic alternatives. Implementing strategy. Evaluating Strategy, SWOT analysis, Case Study Method and Illustration.
8. Thomson & Stickland, Crafting & Executing Strategy. 9. M E Porter, Competitive Strategy. 10. Gerry Johnson & Kavin Scholes, Exploring Corporate Strategy. 11. Fred R David, Strategic Management. 3. CORPORATE LAW The Companies Ordinance 1984 as amended Incorporation and Floatation of a company, with special reference to Memorandum of Association, Articles of Association, Prospectus, Shares, Capital, Underwriting and Commissions. Formation of leasing company, Venture capital, credit rating company, Modarba Company. Directors: Appointment and Remuneration, Disclosure by directors, Powers and Duties, Removal and Retirement of directors. Secretary's duties and responsibilities. Legal position of the Secretary. Books of a Company. Company and Directors' Meetings, Notices, Quorum, Resolutions, Agents and Minutes. Merger and acquisition, SECP Role, Listing at Stock Exchange. Winding Up: Compulsory and Voluntary. Powers and Duties of a Liquidator. Consequences of Winding Up.
FIELDS OF CONCENTRATION
1.
a)
ACCOUNTING
ADVANCED ACCOUNTING THEORY AND PRACTICE The basic structure of accounting. The Accounting & Environment, Accounting Systems and controls, Cash flow statements, Measuring financial position and Income flow. The Accounting Model-Theory and practice-valuation in Accounting Management. Planning and Control, Income Taxes, Deferred Tax, Business Combination and Consolidation, Provisions and Contingencies Final Accounts and Annual Reports of Banks, Insurance, Leasing Companies, International Accounting Standards as adopted in Pakistan (Relevant to above topics).
2. 3. 4. 5. 6. 7.
Meigs and Johns, 2nd Ed., Accounting, McGraw-Hill. Wallis, Accounting A Modern Approach, McGraw-Hill. Kaluza, Accounting A Systems Approach, McGraw-Hill. Johns, Advanced Accounting, McGraw-Hill. Nisaruddin. Advanced Accounting, Lahore. M A Ghani, Advanced Accounting. b) PUBLIC SECTOR ACCOUNTING Government Accounting System, Treasury Manual, Government Financial Rules, Register of Advances, and Monthly Accounts, Annual Accounts, Income & Expenditure Statements, Budgets, Advanced Budgeting preparations, Departmental Budgets, Stock and Stores Accounts. Organizations, Procedure and functions of the Auditor General of Pakistan. Reporting different funds and their disposal, Controlling Accounts. Public Accounts Reports.
d)
COST ACCOUNTING APPLICATION At least 10 case studies on selected Industrial, Financial, Manufacturing, Services, and Merchandizing Sector in respect of Cost Accounting Application will be carried out.
Note:
2.
(a). 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19.
FINANCE
PORTFOLIO MANAGEMENT Introduction to Investments Types of Investments Investment Return Risk and Return The Measurement of Risk The Theory of Risk and Return Mean-variance International Diversification Overview of the Structure and Functioning of Investment Markets Margin, Business Cycle Analysis Market Participation, Market structure and market efficiency. Sources of Investment Information Equities Money and Currency Markets Long-Term Fixed Income Securities Fundamental Analysis Securities Analysis Portfolio Construction and evaluation Capital Assets Pricing Model Arbitrage Pricing Theory
ISLAMIC FINANCE Primary background and theoretical foundations Islamic Economic System and Introduction Macroeconomic theories from Islamic perspective Islamic Banking and Finance in theory and practice Financial intermediation in the framework of Shariah The role of Shariah-based financial instruments in Islam The mechanism and operations of Islamic financial markets Islamic modes of finance Principles of Islamic Financing External financing in Islam Empirical Investigation - Islamic Development bank - its role and functioning - Contemporary experiences of Islamic Banks Islamic Finance in Pakistans Context - Supreme Courts Judgment on the issue - Interest-free Banking in Pakistan - Long-term Financing in Pakistan - Islamic Modes of Finance in Pakistan: A practical experience
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(c) 1.
CORPORATE FINANCE Introduction to Corporate Finance Financial decision making in corporations Types of finances Financial instruments and markets Short and long-term financing Valuation principles Required Rates of Return and risk Internal & external financing Spontaneous financing Short term financing tools Financial statements and cash flows The cash flow statement The income statement and statement of retained earnings The balance sheet Relationship between book value and market value Understanding the Interest Rates General level of interest rates Foreign Borrowing and lending Purchasing power parity Structure of interest rate Valuing Debt and Equity Value debt and preferred stock Pure-discount instruments Coupon bonds, zero coupon, perpetual & reserve bonds Amortized instruments Preferred stock, their types and valuation Valuing equity A single period common stock A multi-period common stock The constant growth dividend & growth in stages Implications for managers Lease and loan financing, Introduction to financing decisions Description of financial instruments Private Sources of financing Commercial banks and other financial intermediaries Ventures capitalists Issuing securities to the public Long-term financial policy: Dividends Policy How companies distribute value to the owners Cash dividends Share repurchases Stock dividends and stock splits When dividend policy is irrelevant The effect of financial market imperfections The effect of asymmetric imperfections
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2.
3.
4.
5.
6.
Establishing a dividend payout-earnings retention policy 7. Capital structure theory Operating & Financial leverage Cost of Capital Restructuring Restructuring companys assets and claims Mergers, Acquisitions, divestitures and buy-outs
8.
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(e)
SPECIALIZED FINANCIAL INSTITUTIONS Financial Institutions: Basic concepts, Importance, Role in Economic Development, Types & Working, Role of Money and Capital markets, Appraisal of Specialized Financial Institutions in Pakistan, including Commercial, Nationalized Banks, Foreign Banks, Leasing Company, Modarbah. Specialized International Financial Institutions.
SECURITY ANALYSIS Stock market terminology Types of securities Short and long-term, Debt and Equity Fixed and variable income Valuation of securities Fundamental analysis, Intrinsic values calculations Technical analysis Trends, Trend Theories Charts and graphs, types and forms Efficient market by hypothesis random walk theory (RWT) Other theories of stock valuation Security markets: a. Primary b. Secondary Money & Capital markets Security market indexes: a. Price indexes b. Volume indexes c. Other indexes Economic Analysis, Industry Analysis, Company Analysis Individual Security risk & return Mutual funds & Brokerage Analysis
3.
(a)
MARKETING
INTERNATIONAL MARKETING Introduction to international business, foreign trade policies; Channels of international marketing, role of government. Global marketing. Market Selection Decisions, Market Strategies. Marketing consumer & Industrial Product, International Pricing and Promotional & Advertising Strategies. Export Procedure and Documents, Pakistan Export Composition, Export Finance.
(b).
MARKETING MANAGEMENT The meaning and scope of Marketing Management. Marketing information system and models. Analyzing Consumer Behaviour, Planning the Basic Product. Product Planning and Development; Product testing, Product Planning for Promotion; Pricing and Terms of Sale, Legal Constraints on Pricing decision. Pricing as a Marketing Strategy. Sales Organization-Internal and External. Marketing ChannelsManufacturer-Distributor-Relationship. Market Sales Planning, Marketing Expenses Budget. Management of Sales Force. Marketing Research, Integrated Marketing Programme, Organization and control of Marketing Activities. Marketing Measurement and Forecasting, Marketing Control, Use of the Case Study Method in the Analysis of Marketing Policies.
(d)
MARKETING COMMUNICATION Introduction, Behavioural Foundations of Marketing, Environmental Influences on Marketing Communication, The Promotion Mix, Advertising, Sales Promotion, Personal Selling & Sales Management, Publicity and Public Relations.
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4.
(a) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
BANKING
Banking Law & Practice General Introduction Banker-Customer Relationship Types of Accounts Types of Customers The Statutes, Laws relating to cheques, bills of exchange Promissory notes & stamp and excise duty thereon Remittances Routine Foreign Exchange Transactions Loans and Advances State Bank of Pakistan & Its functions.
(e) 1. 2. 3. 4.
REGULATION OF FINANCIAL INSTITUTIONS. Important facets of the regulatory framework Including the concepts Rationale tools and the framework of financial regulations at the national and global level Statutory (SBP, SECP) as well as the self-regulatory organizations (stock exchanges) Supra national forums like the Basle Committee of Banking Supervision, IOSCO, etc. as well as private sector regulatory initiatives, like credit rating etc. MARKETING OF FINANCIAL SERVICES The Service Economy Kinds of Financial Services and Products Service Planning and Development Marketing Strategies and Competitive Environments Pricing of Services Promotion and Related fields Services Future of Services
(f) 1. 2. 3. 4. 5. 6. 7.
Comparative Economic Systems Economic System of Islam Features of Commercial Banking Structure of Islamic Banking Obstacles in Islamic Banking Financial intermediation in Islamic system Riba, its classifications and Prohibition Empirical investigation, contemporary experiences of Islamic Banks in different Islamic countries Islamic Development Bank, its role & functioning Islamic Banking in Pakistan, Appraisal
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4. Islamic Development Bank, Lessons in Islamic Economics, (Vol 2), Islamic Research and Training Institute, Islamic Development Bank, Jeddah, Saudi Arabia. 5. Khan Fahim M, Economic Rationality of Islamic Banking, Proceedings of the Seminar on Islamic Banking, The Islamic Foundation, Liecester, UK. 6. Mannan M A, Financing Development in Islam, Islamic Research and Training Institute, Islamic Development Bank, Jeddah, Saudi Arabia. 7. Mannan M A, Islamic Economics: Theory and Practice, The Islamic Academy Cambridge. 8. Rehman Afzal-ur, Economic Doctrines of Islam, Islamic Publications Limited, Lahore. 9. Ayub Ch, Islamic Banking & Finance. 10. Dr M Imran Ashraf Usmani, Meezanbanks Guide to Islamic Banking. 11. Siddiqui Mohammad Neejatullah, Banking Without Interest. 12. Siddiqui Mohammad Neejatullah, Issues in Islamic Banking.
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M.PHIL. IN COMMERCE FIRST YEAR First Semester: Compulsory Courses (Total credit hours 12)
1. 2. 3. 4. Issues in Pakistan Economy Research Methodology Econometrics Applied Business Policy
Ph.D. IN COMMERCE
Research Topic will be allocated after successful completion of M.Phil. Programme and meeting the admission requirements as determined by the respective university.
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RECOMMENDATIONS
During preparation and revision of Curricula at B.Com., M.Com., and M.Phil. levels, the following recommendations came up through extensive discussions amongst the members of the Committee: 1. The Committee recommends that the recommendation made in the NCRC meetings of Commerce in 1978, 1990, 1995, 2001 and 2004 regarding the appointment of the Heads/Principals with minimum M.Com. degree in Commerce Colleges/Institutions, should be implemented. For better implementation, the Committee suggests that the teacher training and orientation programs be arranged by HEC at various regional offices initially for those subjects that are being introduced in the core courses and fields of specialization, e.g. Accounting, Marketing, Banking, Finance and I.T. related subjects. The Committee recommends the regular revision of syllabi in the largest interest of the academic needs of our country and resolved that a meeting of qualified teachers may be held at least once a year on regional basis and every two years at HEC level where stakeholders/users may also be invited. Regular seminars should be arranged at Provincial Headquarters by the HEC in cooperation with the local universities and the users. The Committee resolved to recommend and establish a Centre of Excellence in Commerce to promote research activities. The Committee also suggests that regular refresher courses for colleges and university teachers be arranged at the university level in all Provinces and funds for this purpose may be provided by the HEC. The Committee also recommends that HEC may take measures to develop manuals particularly on new course(s) as a guideline for the teachers. The Committee suggests that case study method of teaching may also be introduced for imparting education in Commerce and a common pool be maintained at HEC level. This curriculum/syllabi be implemented w.e.f. next Academic Year positively in all universities along with affiliated colleges. The Committee suggests that sufficient grant for libraries should be provided at university level for each Commerce Department. The Committee recommends that HEC should take appropriate measures for the printing of foreign/local books of Commerce through National Book Foundation at low prices for the benefit of students.
2.
3.
4. 5. 6.
7.
8. 9. 10.
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11.
The Committee recommends that special grant may be provided for promotion of I.T. and establishment of Computer Labs. and provision of necessary teaching aids in this regard. The Committee recommends for convening of a separate meeting to formulate the proposal for 4 years B.Com. (Hons) programme as it needs a lot of preparation and collection of relevant information including the views of teachers, students, parents and stakeholders. The Committee appreciated the endeavour on the part of HEC administration
12.
for the revision of Commerce curriculum on regular basis for providing guidelines to the institutions/universities to formulate the market-oriented curriculum for B.Com., M.Com. and M.Phil. Programmes for producing quality graduates.
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