Modules Covered

Course Work Only – Economics and Finance

  • Micro Economics
  • Macro Economics
  • Pakistan Economics
  • Investing Decisions
  • Financing Decisions
  • Working Capital Management

Paper 1 – Advanced Accounting 

Section A – Corporate Reporting

  • Financial Reporting Concepts
  • Preparation of Financial Statements of Limited Liability Companies
  • IAS 1: Preparation of Financial Statements
  • IAS 7: Statement of cash flows
  • IAS 16: Property, plant and equipment
  • Non-Current Assets: Sundry standards
  • IAS 37: Provisions, Contingent Assets and Liabilities
  • IFRS 15: Revenue from contracts with customers
  • Interpretation of financial statements
  • Ethics for Professional Accountants

Section B – Cost and Management Accounting

  • Overview of cost and management accounting concepts
  • Marginal costing and absorption costing
  • Standard costingandVariance analysis
  • Relevant costs
  • Cost-volume-profit (CVP) analysis
  • Decision making techniques
  • Time value of money and investment appraisal

Paper 2 – Advanced Business Law

  • Formation and kinds not for profit entities
  • Overview of types of companies and management
  • Companies Act 2017- Share Capital and Prospectus
  • Companies Act 2017- Investments and Dividends
  • Companies Act 2017- Accounts and Audit
  • Filing of Forms & Documents with SECP
  • Awareness of laws, rules and regulations related to banking companies, insurance companies, securities, issue of capital, listing, modaraba, competition, anti-money laundering and foreign exchange


Paper 3 – Advanced Taxation

  • Overview of Basic Taxation
  • Income from business – advanced
  • Income from other sources
  • Capital gains
  • Computation of Payroll
  • Income tax returns
  • Foreign source income of a resident person
  • Assessment, records and audit
  • Appeals, references and petitions
  • Sales Tax Laws – Federal and provincial/Capital Territory
  • Sales tax- returns and records
  • Federal Excise Tax
  • Tax Professionals’ responsibilities and ethics
  • Filing of Returns & Statements with FBR and Provincial Revenue Authorities
  • Wealth statement and reconciliation
  • Tax computation
    • Individual
    • Unincorporated business
    • Incorporated business

Eligibility: CTT-1 passed/referred, degree in relevant discipline or equivalent