BS ACCOUNTING FINANCE BS ACCOUNTING BS FINANCE

BS ACCOUNTING & FINANCE BS ACCOUNTING BS FINANCE Dept. of Accounting & Law

Program Objective To develop Accounting and Finance professionals with world class competencies and ethical standards. To provide opportunities for young professionals to acquire not only undergraduate academic degree but Professional certification in Accounting and Finance, under this program.

Strategy to achieve the Program Objective Design & delivery of courses that provide maximum flexibility to choose their own career path by opting either CA, ACCA, CIMA, CFA, IBP & International credit transfer Main features of the program design are: § University foundation courses to broaden knowledge base and improve skills & competencies § Rigorous set of core subjects for specializing either in Accounting, Finance or both § A broad set of Electives drawn from the IBA undergraduate curriculum with minimum requirements for meeting the criteria for majors § Personal effectiveness and development courses to help groom a well rounded personality § Internships & attachments specific to the career path § Research courses in both Accounting & Finance § Intensive use of the technology to equip the graduates with the latest analytical tools & techniques

Preparatory Work Done Course outlines, contents, sequencing, Pre-requisites, course objectives & outcomes developed in close consultation with all the major professional bodies ICAP has, for the first time in their history, have agreed to grant exemptions up to Module D for those who successfully complete this undergraduate degree IBP has waived off appearances at all three levels of examinations and replaced it with only ONE comprehensive examination ACCA has exempted FOUR examinations & review is underway for five more exemptions CFA does not grant, as a principle, any exemptions but close mapping has been done in Finance courses, that facilitate qualifying CFA examinations

Available Options for Students Professional Options Academic Options Students by choosing a single route may opt to become: On academic front, students have two ADDITIONAL options: • Chartered Accountant • Chartered Certified Accountant • Chartered Management Accountant • Chartered Financial Analyst • Junior Associate of Institute of bankers • Students can attain a degree of BS in Accounting by taking 3 extra papers of Accounting. • Likewise, students also have the option of awarding a degree of BS in Finance by taking 3 extra papers of Finance.

Professional bodies Partnership • ICAP (Exempt up till Module D) • ACCA (Exempt up till F 4 + Other exemptions [F 5 -F 9] are under consideration) • CIMA (Program design supports future exemptions) • CFA (Program is structured to cover CFA’s curriculum) • IBP (Only ONE comprehensive exam replaces all three levels)

Course Layout for Undergraduate students Total Credit Hrs. HEC LUMS IBA • BS Accounting & Finance • BS Accounting • BS Finance 124 -136 130+8* 130 +8* Credit hrs. for a Major 51 -63 76 88 88 88 * IBA has 16 weeks internship program equivalent to 8 credit hrs. in addition to 130 credit hrs. of course work

Eligibility Criteria & Challenge Test A Higher secondary school certificate with a minimum of 60% marks. ‘A’ levels with a minimum of 1 ’B’ and 2 ’C’s in principal subjects (including Mathematics) such that there should be no grade less than ‘C’ across the 3 principal subjects. American high school diploma with a minimum of 80% or an international Baccalaureate with at least 30 points out of 45. Entrance Test be based on English and Math only Note: Placement Test (English and Math) will be taken for all the students. Students weak or failing the subject will be given foundation courses of Math and English as pre-requisite before starting the degree courses.

Transfer Students Eligibility Criteria must be met Maximum of 10 courses can be transferred from foreign universities and LUMS Grade of B or better would qualify for the transfer Transfer credits from professional certification will depend on the following: Exams taken for the certification program should be recognized by HEC for course equivalency Transfer credits for ICAP, ACCA, CIMA, CMA and IBP related courses Grading for certification is not relevant as most rely on Pass or Fail only Relative grading to control the passing rate

Courses & Credit Hours (Major: Accounting and Finance) Particulars Courses Credit Hours University core 4 12 Non-specialized Accounting Finance 10 14 14 30 44 44 Total 42 130

Courses & Credit Hours (Major: Accounting) Particulars Courses Credit Hours University core 4 12 Non-specialized Accounting Finance 10 17 11 30 53 35 Total 42 130

Courses & Credit Hours (Major: Finance) Particulars Courses Credit Hours University core 4 12 Non-specialized Accounting Finance 10 11 17 30 35 53 Total 42 130

Recommended Semester-wise sequence of Courses Semester 2 Semester 1(Mandatory) No. Course code 1 SSC 101 1 MTS 202 2 SSC 201 2 ECO 104 3 SSC 151 3 MGT 221 4 SSC 301/SSCXX 4 MKT 201 5 MTS 102 5 MTS 101 6 ECO 103 6 NS-Elective

Recommended Semester-wise sequence of Courses Semester 3 Semester 4 No. Course code 1 NS-Elective 1 ACC 215 2 NS-Elective 2 FIN 558 3 ACC 210 3 LAW 301 4 FINC 201 4 LAW 205 5 ACC 220 5 FIN 401 6 FIN 301 6 MTS 103

Semester 5 – 8 Students have the option of choosing Electives during this time period including an 8 weeks internship program.

Challenges • Ensuring Uniformity & Continuity in Standardization of v. Course Outlines v. Lectures & Exams • Preparation & teaching of Pakistan based Case studies • Upgrade technology from time to remain ahead of the competitors • Hiring faculty resource of high caliber

Administrative structure to meet these Challenges Professional Advisory Committee Employers’ Advisory Committee Dept. of Accounting & Law

Roles Professional Advisory Committee This 9 members’ consultative committee consists of representatives of professional bodies, banks & academia. It is established to perform the following tasks: • Monitor the curriculum. • Establish a framework to Operationalize this program as per the desired vision. • Bridge the gap between Academia & professional bodies

Roles Employers’ Advisory Committee This committee will consist of Employers from various organizations. The prospective members have been identified and we are in the process of obtaining their approval. This committee will perform the following tasks: • • Employers will highlight the expected skills level & adaptability of these graduates in the dynamic business world. This committee will suggest the improvements in the curriculum & practical training.

Roles Coordinator has the following responsibilities: • • • To Operationalize the recommendations of both committees. To perform his duties under directives of the Chairpersons of departments of Accounting & Finance. Continuous monitoring of curriculum, lectures & related matters to ensure standardization.