CSS Accounting and Auditing Syllabus

The Accounting and Auditing CSS Optional Subject is an important subject carrying 200 Marks and should not be taken very lightly. The subject of accounting is quite important in the business world as various business and industries need reliable and dependable accountants and auditors.

The CSS Subject accounting and auditing exits in the Group 1 of CSS Optional Subject and therefore students must select it very carefully as it will be highly beneficial for them in order to secure higher marks that can contribute towards the CSS Written Examination total marks.

The CSS accounting and auditing subject consists of Two Papers each having 100 Marks comprising MCQ’s and subjective portion. The first paper consists of Financial Accounting and Cost and Managerial Accounting

Financial Accounting

In the financial accounting section you will learn about the Fundamental Accounting Principles and concepts comprising various section like Nature and scope of accounting, materiality, true and fair view, completeness, neutrality, among others.

Accounting Cycle (Process and Financial Statements)

In the accounting cycle section you will learn about transactions, general ledger, worksheet, financial statements,adjusted trial balance, income statement , statement of cashflow, statement of changes in equity among others.

Attributes (Significance of Accounting Information)

In the attributes section you will learn about attributes of accounting, reporting requirement of various users, financial statement for various stakeholders, Creditors, finance, creditors, government agencies, board of directors, managers, employees, among others.

Accounting for common legal forms of business

In this section you will learn about topics comprising the accounting principles, financial statements, partnerships, sole proprietorship, joint stock companies, capital reduction, amalgamation, consolidation, among others

Accounting for Associations (Not for Profit/Public Sector)

In this section your will learn about topics comprising accounting principles, financial statement of association like not for profit & public sector entities, among others.

Accounting for Non current Tangible assets

In this section you will learn about topics in accounting like the fundamental concepts, depreciation, residual value, depreciable amount, depreciation methods, straight line method, reducing balance method, techniques used by the industry, among others.

Fundamental and Technical Analysis (Forms of organizations)

In this section you will learn about topics comprising financial statement analysis, liquidity ratios, debt ratios, market ratios, technical analysis, Industry Analysis, among others.

Cost and Managerial Accounting

In the 2nd Part comprising Cost and managerial accounting composing 50 Marks you will learn about the following sections

Fundamental cost accounting (principles and concepts)

In this section you will learn about topics like nature and scope of cost and managerial accounting, elements and classification, financial and management accounting, among others.

Accounting for Material, labor and Factory Overhead

In this section you will learn about concepts in accounting like method to control material inventory, accounting for payroll for types of labor, piece rate system, factory overhead costs, primary and secondary distribution, among others.

Costing for specific jobs (Process costing)

Under this section you will learn about the nature of specific jobs, job order costing, process flow, process costing, use of cost of production report, among others.

Management Accounting (Planning and decision making)

Under this section you will learn about Budgeting and its various usage, nature of budget, nature of budget, major forms of budget, cash budget, flexible budget, master budget, break even analysis, Relevant cost concept, use and application of contribution margin, variance analysis, use of variances and standards, among others.

For the 2nd paper comprising 100 marks under CSS’s accountancy and auditing the syllabus comprises of the following sections

Auditing

Auditing section contains auditing priciples, concepts, dimensions, audit considerations and many other important topics.

Fundamental auditing principles and concepts

In this section you will learn about audit and audition, audit assertions, audio programs, inspection, documentation, audit evidence, audit materiality, computer information systems, computer assisted audit techniques, among others.

Audit considerations, conduct and dimensions

In this section you will learn about topics like internal control system, internal vs external audit, objectives of an audit, risk assessment and management, classification of audit, general auditing principles, techniques applied under types of undertaking in banking, merchandising, investment, audit performance, among others.

Auditor Role and Responsibilities

Under this section you will learn about Auditor profession, auditor legal rights, auditor duties, auditor responsibilities, auditor liabilities, auditor reports, auditor classification among others.

Business Taxation

This section contains tax structure, income tax in Pakistan, sales tax principles and many other important topics.

Tax structure and Fundamental concepts (Income tax in Pakistan)

Under this section you will learn about the tax structure in Pakistan, fundamental definitions, Income tax Ordinance 2001 terminologies, among others.

Income Tax (Sales Tax Principles and application)

Under this section of Business taxation you will learn about income for tax purposes, Tax payable on taxable income, income from property, capital gains, tax credits, scope of tax, input tax, retail price and retailer, taxable supply, determination of tax liability, among others.

Business Studies and Finance

This section is completely about the businss studies and finance topic.

Business Studies

In this section of Business studies you will learn about nature and scope of business entity, contemporary challenges towards business, sole proprietorship, joint stock company, business cycle and its implications, partnership, among others.

Finance

Under this section you will learn about nature and scope of finance, financial management, short term financing, nature and scope of financial markets, financial management techniques, capital budgeting techniques, cost of capital, among others.

Accounting & Auditing CSS Past Papers

You can download the previous papers (past papers) of Accounting & Auditing optional subject of CSS. Just click on the given below link and download past papers.

Download Accounting & Auditing CSS Past Papers