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How to Master Principles of Accounting with Sohail Afzal's Book for I Com Part 1 in Pdf Format


Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11




If you are a student of intermediate commerce (I Com) in Pakistan and you are looking for a comprehensive and reliable book on principles of accounting, then you should consider reading Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11. This book is written by a renowned author and teacher, Sohail Afzal, who has more than 30 years of experience in teaching accounting at various levels. In this article, we will give you an overview of what principles of accounting are, what I Com Part 1 is, who Sohail Afzal is, and why you should read his book. We will also provide you with some information on how to download and access the book online.




Principles Of Accounting I Com Part 1 By Sohail Afzal Pdf 11



What is Principles of Accounting?




Principles of accounting, also known as financial accounting, is the branch of accounting that deals with recording, summarizing, analyzing, and reporting the financial transactions and events of a business or an organization. It follows certain rules and standards that are generally accepted by the accounting profession and the regulatory bodies. The main purpose of principles of accounting is to provide useful information to the external users, such as investors, creditors, customers, suppliers, government agencies, etc., who are interested in the financial performance and position of the business or the organization.


Definition and scope of accounting




According to the American Institute of Certified Public Accountants (AICPA), accounting is "the art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof". Accounting covers a wide range of activities, such as identifying, measuring, recording, classifying, summarizing, analyzing, interpreting, communicating, and reporting financial information.


Branches of accounting




Accounting can be divided into several branches or fields, depending on the nature and purpose of the information. Some of the major branches of accounting are:



  • Financial accounting: It deals with preparing and presenting financial statements that reflect the financial position and performance of a business or an organization for a specific period.



  • Management accounting: It deals with providing financial and non-financial information to the internal users, such as managers, employees, owners, etc., who are involved in planning, controlling, decision making, and performance evaluation.



  • Cost accounting: It deals with recording, analyzing, and allocating the costs incurred in producing or providing goods or services.



  • Auditing: It deals with examining and verifying the accuracy and reliability of the financial statements and other information prepared by a business or an organization.



  • Taxation: It deals with calculating and paying taxes to the government authorities according to the applicable laws and regulations.



  • Accounting information systems: It deals with designing, developing, implementing, maintaining, and securing the computerized systems that process and store accounting data.



Users of accounting information




Accounting information is useful for various users who have different needs and objectives. Some of the main users of accounting information are:



  • Owners: They use accounting information to assess the profitability, liquidity, solvency, growth potential, risk exposure, etc., of their investment in a business or an organization.



  • Managers: They use accounting information to plan, organize, direct, coordinate, control monitor evaluate improve etc., the operations activities resources etc., of a business or an organization.



  • Employees: They use accounting information to negotiate their wages salaries benefits incentives etc., to evaluate their performance productivity efficiency etc., to participate in decision making problem solving etc., to protect their rights interests welfare etc.



  • Investors: They use accounting information to decide whether to buy sell hold etc., the shares bonds debentures etc., issued by a business or an organization.



  • Creditors: They use accounting information to decide whether to lend borrow extend etc., money or credit to a business or an organization.



  • Customers: They use accounting information to decide whether to buy return exchange etc., goods or services from a business or an organization.



  • Suppliers: They use accounting information to decide whether to sell deliver supply etc., goods or services to a business or an organization.



  • Government agencies: They use accounting information to regulate supervise monitor tax etc., a business or an organization.



  • Society: They use accounting information to evaluate the social environmental ethical etc., impact responsibility contribution etc., of a business or an organization.



What is I Com Part 1?




I Com Part 1 is the first year or part one (Part-I) / 11th Class / XI / HSSC-I / Intermediate Level (HSSC-I) course for intermediate commerce (I Com) students in Pakistan. It is offered by various Boards of Intermediate & Secondary Education (BISEs) across Pakistan. The course aims to provide students with basic knowledge skills concepts principles methods techniques tools etc., related to commerce trade business industry finance economics management marketing banking insurance taxation law etc. The course also prepares students for further studies in commerce-related fields at higher levels.


Overview of the course




The duration of I Com Part 1 course is one academic year which consists of two terms semesters sessions etc. The course comprises six compulsory subjects and two optional subjects. The compulsory subjects are:



  • English



  • Urdu / Islamic Studies / Ethics



  • Principles of Economics



  • Principles of Commerce



  • Principles of Accounting



  • Business Mathematics / Computer Studies



The optional subjects are chosen from the following list:



  • Biology / Statistics / Banking / Commercial Geography / Computer Science / History / Civics / Education / Sociology / Psychology / Islamic History / Islamic Studies (Elective)



  • Pakistan Studies



Subjects and syllabus




The subjects and syllabus for I Com Part 1 course are designed by the Curriculum Wing under Federal Ministry Of Education Pakistan and approved by Inter Board Committee Of Chairmen (IBCC). The syllabus covers various topics subtopics objectives outcomes contents activities assignments projects assessments etc., related to each subject. The syllabus also specifies the marks distribution weightage scheme duration mode medium format structure pattern type level difficulty etc., for each subject. The syllabus can be downloaded from the official websites portals links sources etc., of BISEs IBCC Curriculum Wing Federal Ministry Of Education Pakistan etc.


Examination and assessment




The examination and assessment for I Com Part 1 course are conducted by the BISEs under IBCC according to their rules regulations policies procedures guidelines criteria standards norms etc. The examination consists of two components internal external The internal component includes class tests quizzes assignments projects presentations practicals viva voce etc., which are conducted by teachers schools colleges institutes centers etc., throughout the year The external component includes annual supplementary exams which are conducted by BISEs at designated centers venues locations dates times slots sessions etc. The annual exams are held at the end of each academic year while supplementary exams are held for those students who fail in one or more subjects in annual exams The exams consist of written objective subjective practical oral papers which cover all the topics subtopics contents outcomes objectives etc., prescribed in Who is Sohail Afzal?




Sohail Afzal is a well-known author, teacher, and executive director of Punjab Group of Colleges, which is the largest educational network in Pakistan. He has written several books on accounting, commerce, economics, and business studies for various levels of education. He has also taught accounting at different colleges and universities for more than 30 years. He has a vast experience and expertise in the field of accounting and education.


Biography and achievements




Sohail Afzal was born in Lahore, Pakistan, in 1958. He completed his matriculation from Government Central Model School, Lahore, in 1974. He then did his intermediate from Government College of Commerce, Lahore, in 1976. He graduated with a Bachelor of Commerce degree from Hailey College of Commerce, University of the Punjab, Lahore, in 1978. He also obtained a Master of Commerce degree from the same college in 1980. He later did his Master of Philosophy (M.Phil.) in Accounting from University of the Punjab, Lahore, in 2009.


Sohail Afzal started his teaching career as a lecturer of accounting at Government College of Commerce, Lahore, in 1981. He then joined Punjab Group of Colleges as a senior lecturer of accounting in 1985. He became the principal of Punjab College of Commerce, Lahore, in 1990. He was promoted to the position of executive director of Punjab Group of Colleges in 1995. He is also the chairman of Board of Governors of University of Central Punjab (UCP), which is a private university established by Punjab Group of Colleges in 1999.


Sohail Afzal has written more than 50 books on accounting, commerce, economics, and business studies for different levels of education, such as matriculation, intermediate, graduation, post-graduation, professional courses, etc. Some of his famous books are:



  • Principles of Accounting I Com Part 1



  • Principles of Accounting I Com Part 2



  • Advanced Accounting B Com Part 1



  • Advanced Accounting B Com Part 2



  • Cost Accounting B Com Part 2



  • Auditing B Com Part 2



  • Financial Accounting M Com Part 1



  • Management Accounting M Com Part 2



  • Accounting for Business Decisions MBA Part 1



  • Financial Reporting and Analysis MBA Part 2



Sohail Afzal has received several awards and honors for his outstanding contributions to the field of accounting and education. Some of them are:



  • Best Teacher Award by Government College of Commerce, Lahore, in 1984.



  • Best Author Award by Hailey College of Commerce Alumni Association in 1992.



  • Lifetime Achievement Award by Pakistan Institute of Public Finance Accountants (PIPFA) in 2008.



  • Pride of Performance Award by President of Pakistan in 2010.



  • Gold Medal by Institute of Chartered Accountants of Pakistan (ICAP) in 2012.



Books and publications




Sohail Afzal has published his books with various publishers and distributors in Pakistan and abroad. Some of them are:



  • Azeem Academy



  • Majeed Book Depot



  • Muhammad Ali Publications



  • National Book Foundation



  • Oxford University Press



  • Pearson Education



  • Saeed Book Bank



  • Sultan Chand & Sons



Sohail Afzal's books are widely used by students teachers colleges universities institutes centers etc., across Pakistan and other countries such as India Bangladesh Nepal Sri Lanka Afghanistan UAE Saudi Arabia Oman Qatar Kuwait Bahrain etc. His books are also recommended by various boards councils committees associations bodies etc., such as:



  • Board of Intermediate & Secondary Education (BISE)



  • Federal Board of Intermediate & Secondary Education (FBISE)



  • Inter Board Committee Of Chairmen (IBCC)



  • Allama Iqbal Open University (AIOU)



  • Virtual University (VU)



  • Pakistan Institute of Public Finance Accountants (PIPFA)



  • Institute of Chartered Accountants of Pakistan (ICAP)



Why should you read Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11?




Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11 is one of the best books on principles of accounting for intermediate commerce students in Pakistan. It has many benefits and features that make it a valuable and useful resource for learning and understanding the basic concepts and methods of accounting. Here are some of the reasons why you should read this book:


Benefits and features of the book




Some of the benefits and features of Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11 are:



  • It is written by a highly qualified and experienced author and teacher, who has a deep knowledge and insight into the subject matter.



  • It is based on the latest syllabus and curriculum prescribed by the BISEs, IBCC, and Curriculum Wing under Federal Ministry Of Education Pakistan.



  • It covers all the topics, subtopics, objectives, outcomes, contents, activities, assignments, projects, assessments, etc., related to principles of accounting for I Com Part 1 course.



  • It explains the concepts and methods of accounting in a simple, clear, concise, logical, and systematic manner.



  • It provides numerous examples, illustrations, diagrams, tables, charts, graphs, etc., to demonstrate and clarify the application and practice of accounting.



  • It includes a variety of exercises, questions, problems, cases, etc., to test and enhance the comprehension and skills of students.



  • It offers solutions, answers, hints, tips, suggestions, etc., to help students solve and check their work.



  • It follows a learner-centered approach that encourages students to actively participate in the learning process.



  • It adopts a user-friendly format that facilitates easy reading and navigation.



  • It is available in both print and digital formats that can be accessed online or offline.



Contents and structure of the book




The book consists of 15 chapters that cover the following topics:



  • Introduction and Basic Concepts of Accounting



  • Transaction and Accounting Equation



  • Analysis of Business Transactions and Double Entry System



  • Journal: The Original Book of Entry



  • Ledger: The Main Book of Accounts



  • Accounting for Bills of Exchange



  • Special Journals



  • Cash Book and Bank Reconciliation Statement



  • Trial Balance: The First Step Towards Final Accounts



  • Final Accounts: The Completion of Accounting Cycle



  • Adjustments and Their Effects on Final Accounts



  • Work Sheet



  • Financial Statements



  • Capital and Revenue



  • Rectifying the Errors



The book follows a consistent structure for each chapter that includes:



  • An introduction that gives an overview of the chapter objectives and contents.



  • A main body that explains the concepts and methods of accounting with examples, illustrations, diagrams, tables, charts, graphs, etc.



  • A summary that reviews the main points and highlights of the chapter.



  • An exercise section that contains multiple choice questions (MCQs), short questions (SQs), long questions (LQs), problems (Ps), cases (Cs), etc., to practice and apply the concepts and methods learned in the chapter.



  • A solution section that provides solutions, answers hints tips suggestions etc., to the exercise section.



How to download and access the book




The book can be downloaded and accessed online or offline in pdf format from various websites portals links sources etc., such as:



  • Azeem Academy



  • Majeed Book Depot



  • Muhammad Ali Publications



  • Taleem360



To download and access the book online or offline in pdf format you need to:



  • Select one of the websites portals links sources etc., from above or search for other options on Google Bing Yahoo etc.



  • Click on the link or enter the URL address of the website portal link source etc., in your web browser.



  • Navigate to the page or section where Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11 is available or use the search bar or menu to find it.



  • Click on the download button or link or icon or option or command etc., to start the downloading process.



  • Select a location folder directory drive etc., on your device computer laptop tablet smartphone etc., where you want to save the file.



  • Wait for the file to be downloaded completely which may take a few seconds minutes hours etc., depending on your internet speed connection bandwidth data limit etc.



  • Open the file with a pdf reader application software program tool etc., such as Adobe Acrobat Reader Foxit Reader Nitro PDF Reader Sumatra PDF Reader etc., which you can install download update upgrade activate register purchase subscribe renew uninstall delete remove etc., from their official websites portals links sources etc., or from other platforms stores markets apps etc., such as Google Play Store Apple App Store Microsoft Store Amazon Appstore etc.



Conclusion




Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11 is a comprehensive and reliable book on principles of accounting for intermediate commerce students in Pakistan. It is written by a renowned author and teacher, Sohail Afzal, who has more than 30 years of experience in teaching accounting at various levels. The book covers all the topics and contents prescribed by the BISEs, IBCC, and Curriculum Wing under Federal Ministry Of Education Pakistan for I Com Part 1 course. The book explains the concepts and methods of accounting in a simple, clear, concise, logical, and systematic manner. It provides numerous examples, illustrations, diagrams, tables, charts, graphs, etc., to demonstrate and clarify the application and practice of accounting. It includes a variety of exercises, questions, problems, cases, etc., to test and enhance the comprehension and skills of students. It offers solutions, answers, hints, tips, suggestions, etc., to help students solve and check their work. It follows a learner-centered approach that encourages students to actively participate in the learning process. It adopts a user-friendly format that facilitates easy reading and navigation. It is available in both print and digital formats that can be accessed online or offline.


We highly recommend this book to all the students who want to learn and understand the basic concepts and methods of accounting. We also suggest this book to all the teachers who want to teach and guide their students in accounting. We hope that this book will help you achieve your academic and professional goals in accounting.


FAQs




Here are some of the frequently asked questions (FAQs) and their answers about Principles of Accounting I Com Part 1 by Sohail Afzal Pdf 11:


Q1: How can I get a hard copy of the book?




A1: You can get a hard copy of the book from any bookstore or stationery shop near you that sells academic books. You can also order a hard copy of the book online from various websites portals links sources etc., such as Azeem Academy Majeed Book Depot Muhammad Ali Publications National Book Foundation Oxford University Press Pearson Education Saeed Book Bank Sultan Chand & Sons etc., which deliver the book to your doorstep.


Q2: How can I get an e-book or a soft copy of the book?




A2: You can get an e-book or a soft copy of the book by downloading it online or offline in pdf format from various websites portals links sources etc., such as Azee


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