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Financial Accounting Part-I
I. Fundamental Accounting Principles, Concepts, Assumptions and Conventions:
Nature and Scope of Accounting, Accrual/Matching Concept, Consistency of
Presentation and Comparability, True and Fair View, Neutrality, Materiality, Prudence,
Completeness, Understandability and Usefulness, Going Concern, and Substance over Form.
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Financial Accounting Part-II
II. Accounting Cycle/Process and Financial Statements: Transactions and/or Events,
General Journal, General Ledger, Trial Balance (Unadjusted),Adjusting Entries and
Adjusted Trial Balance, Work Sheet, Financial Statements including Income
Statement, Statement of Financial Position (Balance Sheet), Statement of Cash
Flows and Statement of Changes in Equity in accordance with the Financial Reporting
Framework as specified by International Accounting Standard Board (IASB) through
IFRSs/IASs, and by Securities and Exchange Commission of Pakistan through
Companies Ordinance 1984, and Closing and Reversing Entries.
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Quizzes
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