ASSIGNMENT#2

Auditing
assignment
Submitted to:
Mr.Shoaib Ahmad
Submitted by:

HAILEY COLLEGE OF BANKING AND

FINANCE

UNIVERSITY OF THE PUNJAB LAHORE

 For education purpose assignment is a task given to
students. It is some sort of out of class work or home work mostly assigned to
professional students. Although many students don’t like assignments but they are
really helpful to make us a skilled professional.
As I am studying in BBA (Hons.)IRM in HAILEY COLLEGE OF BANKING AND
FINANCE in 6th semester, till this date I personally have submitted a lot of assignments
and projects on various topics.
Like many other students of my class I thought assignment as a waste of time when I
first got it. It was some sort of pressure to handle or a try to show that I was in
professional studies. But it really worked for me. As I was given very first assignment on
introduction to business relating to public and private limited company, I worked on it
with my group. The lessons I learnt from it was unimaginable. I not only learn how to
work in a team like a member but I also came to know the responsibilities of a team
leader. I personally visited SECP, different banks and met with many professional in
market. This helped me out to see the environment of market so I became familiar of
some practical aspects of market where I have a plan to enter after completing my
professional studies.
If done properly assignments not only develop our skills and abilities but it also
enhances our understanding towards professional studies.
Assignments relating to our course can be of various types. It may range from original
scenarios to hypothetical case studies or from complex mathematical problems to some
easy problem for practice.
Assignments in business administration studies can be on real problems like a
marketing project for emerging or established company, analysis of different banks or
commercial organizations in market and for IT subjects it may be to develop a website
for any company. This sort of assignments utilizes brain of students to analyze and
make conclusion on real market situation. With the teachers help student start knowing
the market situation as well as it will help them to prepare themselves as what decision
they will take in current market situation. Students come to know current business
trends, likely changes to occur in market and probable reaction of these organizations to
these situations , and of course the decisions taken in past to tackle difficult situations.
By carefully analyzing current business growth, market share, competitor’s positioning
students can also become familiar of target market areas where there are many
opportunities for them to give a good start to their career.
Assignments can also be on hypothetical situation or on case studies. These
assignments persuade students for brainstorming. They learn to use their own
judgmental power to find a way for solving specific hypothetical problems. In this way
assignments teach students of professional studies how to rely on their own skills and
knowledge for making a decision. These types of assignments are a good way to
minimize students’ reliance on internet and prepared material for organizations, as
these situations are not real and their solution is not given in books and internet and
students can not copy it from seniors. So it can be said that assignments are good
source to motivate students to become involved in their subjects, make them able to
understand some forthcoming or forgone hypothetical situation and then they will use all
their knowledge, skills and abilities to reach at a solution. These assignments are the
best way to increase student’s reliance in their own abilities.
Some assignments in professional studies are specifically designed for practice of
complicated mathematical questions like for business mathematics and statistics. Same
like for advance accounting and cost and manufacturing accounting. These
assignments help students to practice the formulas and solution method which will
make them able to calculate complex financial budget with ease. Accounting subjects
use a set format to make financial records and they are kept in systematic manner.
That’s why teachers prefer to give more practical assignments rather than emphasizing
on class lectures. This will help students to memorize the specific format for specific
problems, calculations and record keeping.
A different type of assignment which I got during my professional course was on
understanding the true working sense of different commercial and non- commercial
organization. Besides the difference of profit earning motivation the working structure of
both type of organization is different. Its example includes difference between
conventional insurance or banking and takaful or Islamic banking or it may be difference
between trust and waqf. It helped us out to know exactly why and how these terms
relate to our profession and how can we minimize our ambiguities about our profession.

A common student’s perception is that assignments are some sort of pressure. It is

sometime not relating to course or teachers use them as a tool to complicate studies. It
is also a thought that assignments are wastage of time and the time we will spend on
assignments, why not we utilize it to study tough subject? But despite all these believes
I think these are the most effective and efficient way to help students know their skills,
enhance them and tell the best way to utilize them. Assignments are also an additional
source of knowledge of not only course related subjects but also provide information on
market to which it relates. That’s why I am greatly in favour of assignment in
professional studies because of all additional advantages, knowledge, skills and
motivation it brings for students.