CURRICULUM OF COMMERCE, Exams of Fundamentals of E-Commerce

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CURRICULUM

OF

COMMERCE

BS/BCom (Hons) & MS

(Revised 2025)

HIGHER EDUCATION COMMISSION

ISLAMABAD – PAKISTAN

CURRICULUM DIVISION, HEC

Prof. Dr. Mukhtar Ahmed Chairman, HEC

Mr. Fida Hussain Director General (Acad)

Mr. Rizwan Shoukat Deputy Director (Curri)

Mr. Abid Wahab Assistant Director (Curri)

Mr. Riaz-ul-Haque Assistant Director (Curri)

Composed by: Mr. Zulfiqar Ali, HEC, Islamabad

PREFACE The curriculum, with varying definitions, is said to be a plan of the teaching- learning process that students of an academic programme are required to undergo. It includes objectives & learning outcomes, course contents, scheme of studies, teaching methodologies and methods of assessment of learning. Since knowledge in all disciplines and fields is expanding at a fast pace and new disciplines are also emerging; it is imperative that curricula be developed and revised accordingly. University Grants Commission (UGC) was designated as the competent authority to develop, review and revise curricula beyond Class-XII vide Section 3, Sub-Section 2 (ii), Act of Parliament No. X of 1976 titled ―Supervision of Curricula and Textbooks and Maintenance of Standard of Education‖. With the repeal of UGC Act, the same function was assigned to the Higher Education Commission (HEC) under its Ordinance of 2002 , Section 10, Sub-Section 1 (v). In compliance with the above provisions, the Curriculum Division of HEC undertakes the revision of curricula after every three years through respective National Curriculum Revision Committees (NCRCs) which consist of eminent professors and researchers of relevant fields from public and private sector universities, R&D organizations, councils, industry and civil society by seeking nominations from their organizations to develop an experienced NCRC team for this important national academic cause. In order to impart quality education which is at par with international standards, HEC NCRCs have developed unified templates as guidelines for the development and revision of curricula in the disciplines of Basic Sciences, Applied Sciences, Social Sciences, Agriculture, Business Education and Engineering in 2007 and 2009 onward. It is hoped that this curriculum document, prepared by the National Curriculum Revision Committee for Commerce, would serve the purpose to meet our national, social and economic needs, and it would also provide the level of competency specified in Pakistan Qualification Framework to make it compatible with international educational standards. We appreciate the efforts and contributions of the Convener and his team members for this academic cause. The curriculum is also placed on the website of HEC (www.hec.gov.pk) for consultation and implementation in the Departments of Commerce in Universities of Pakistan. (Fida Hussain) Director General (Academics)

CURRICULUM DEVELOPMENT PROCESS STAGE-I STAGE-II STAGE-III STAGE-IV CURRI. UNDER CONSIDERATION CURRI. IN DRAFT STAGE FINAL STAGE FOLLOW UP STUDY COLLECTION OF REC APPRAISAL OF 1 ST DRAFT BY EXP. OF COL./UNIV PREP. OF FINAL CURRI. QUESTIONNAIRE CONS. OF CRC. FINALIZATION^ OF DRAFT BY CRC INCORPORATION OF REC. OF V.C.C. COMMENTS PREP. OF DRAFT BY CRC APPROVAL OF CURRI.BY V.C.C. PRINTING OF CURRI. REVIEW Abbreviations Used: CRC. Curriculum Revision Committee VCC. Vice Chancellor’s Committee EXP. Experts COL. Colleges UNI. Universities PREP. Preparation IMPLE.OF CURRI. BACK TO STAGE-I ORIENTATION COURSES

Dr. Abdul Raziq, Acting Dean, Faculty of Management Sciences, Balochistan University of IT, Engineering & Management Sciences, Airport Road, Baleli, Quetta. Member

Syed Muhammad Abbas, Assistant Professor/Principal, Quaid-e-Azam College of Commerce, University of Peshawar, Peshawar. Member

Mr. Mubashar Ali, Head of Department Department of Economics & Commerce, The Superior College,16-KM Raiwind Road, Lahore. Member

Mr. Najamul Arifeen, Lecturer / Incharge, Department of Commerce, Federal Urdu University of Arts, Science & Technology, Abdul Haq Campus, Karachi. Member

Mr. Ilyas Sharif, Lecturer, Quaid-e-Azam College of Commerce, University of Peshawar, Peshawar. Member

M. Azhar Sheikh Senior Lecturer Department of Commerce, The Islamia University of Bahawalpur, BJ Campus, Bahawalpur. Member

Mr. Majeed Ullah Khan, Lecturer, Institute of Management Sciences, Kohat University of Science & Technology, Kohat 26000, Khyber Pakhtunkhwa. Member

Mr. Muhammad Imran Qureshi Assistant Professor, Department of Commerce, Gomal University, Dera Ismail Khan. Member

Ms. Amna Mumtaz, Lecturer, Department of Management Science, Virtual University of Pakistan, 54 Lawrence Road, Lahore. Member

Ms. Maryam Gull, Lecturer, Department of Management Science, Lahore College for Women University, Jail Road, Lahore. Member The meeting started with the recitation of some verses from the Holy Quran by Mr. Abid Wahab Assistant Director HEC. Mr. Nazeer Hussain, Director, HEC Regional Centre, Lahore, welcomed the participants on behalf of the Chairman, HEC, Prof. Dr. Mukhtar Ahmed. In his opening remarks, he expressed his pleasure over the worthy participation of academia from all over the country. He also pointed out the need to prepare the curriculum for 4 years BS/BCom (Hons) in Commerce. He emphasized the need of standardized curricula for all HEC recognized Universities/Institutes for quality education and uniformity at the national level. He stated the importance of the programme, and emphasized that, in order to compete with the international universities, it is essential to introduce 4 years integrated BS/BCom (Hons) programme. This will facilitate our students to continue higher education abroad and compete for international job market. The committee made the courses more balanced by realigning the course contents to modern requisites by way of including both commerce as well as social sciences subjects for versatile professional and character development of the students. The Layout for BS/BCom (Hons) 4 years was also developed after rigorous brainstorming among all the members of the meeting and consequently, all the Courses were classified into Compulsory, General, and Discipline Specific Courses in Commerce. General courses in social sciences and humanities were introduced for the purposes of producing the effective leaders in commerce to meet the challenges of the 21 st^ century. The participants represented the academicians/professors from the universities of all the provinces of the country. The Committee as a team, tried its level best to assure the highest standards of quality education keeping contemporary issues in due consideration. All the members bequeathed valuable suggestions, which were incorporated in a congenial manner to sustain the competitiveness at par with international and professional educational standards. The heart of this endeavor lies in aptly bridging the fissure between theory and practice vis-à-vis commerce education so that the prospective graduates could be well-equipped and more confident in capturing the jobs or initiating an entrepreneurial activity in this more challenging and more globalized professional era. Our team didn‘t include members with only formal education but also members with professional education including CA and CMA, who while devising the curricula attempted to maintaining the gap between formal academic

LAYOUT FOR BS (COMMERCE)/BCom (Hons) 4 - YEAR, 8 - SEMESTER PROGRAM Compulsory Requirement (CR) General Requirement (GR) 9 Courses 6 - 8 Courses 25 Credit Hours 18 - 24 Credit Hours

1. Functional English (3)
2. Business Communication (3)
3. Technical Writing and Presentation Skills (3)
4. Business Mathematics (3)
5. Business Statistics (3)
6. Computer Applications in Business (3)
7. English-IV / Information Technology in Business (3)
8. Islamic Studies (2)
9. Pakistan Studies (2)
10. Economic Issues of Pakistan (3)
11. Logical and Critical Thinking (3)
12. Introduction to Psychology and Organizational Behaviour ( 3 )
13. Introduction to Sociology (3)
14. Business Ethics and CSR (3)
15. Leadership Skills, and Team/Community Development (3)
16. Any Foreign Language other than English (3) e.g. Chinese, Arabic, German etc.
17. History (3)
18. International Relations and Current Affairs (3)
19. Any other like-wise Courses Discipline Specific Requirement Foundation Courses Major Courses including Project / Internship Specialization / Elective Courses within the Major 10 - 12 Courses 11 - 14 Courses 4 Courses 30 - 36 Credit Hours 33 - 42 Credit Hours 12 Credit Hours

1. Principles of 1. Financial Accounting ( 3 ) Courses pertaining to Accounting ( 3 ) 2. Advanced Accounting-I (3) Specialization in
2. Introduction to 3.^ Advanced^ Accounting-II
3. Business ( 3 ) Microeconomics (3) 4. (3) Financial Management (3) 1. Accounting
4. Macroeconomics ( 3 ) 5.^ Inferential^ Statistics^ (^3 )^ OR
5. Principles of 6. Business Research Management (3) Methods^ (3)^ 2. Finance
6. Principles of 7.^ Managerial^ Accounting
7. Marketing (3) Business Law (3) 8. (3) Managerial Economics (3) OR
8. Introduction to Business Finance 9. Human Resource Management (3) 3. Banking (3) 10. Corporate Laws and (^) OR

7. Financial Derivatives – Theory and Practice (3)
8. Analysis of Financial Statements ( 3 )
9. Financial Appraisal (3)
10. International Trade Finance and Foreign Exchange Operations (3)
11. Financial Regulatory Institutions – Status, Functions and Role (3)
12. Management of Banking and Financial Operations (3) 3. Banking (Any 4 Courses)
13. Banking Laws and Practices (3)
14. Dynamics of Consumer Banking (3)
15. Islamic Banking and Finance (3)
16. Marketing for Financial Services (3)
17. Credit and Risk Management in Banking Sector (3)
18. E-banking (3)
19. Anti-money Laundering – Measures and Control (3)
20. Financing for SMEs‘ (3)
21. NBFCs and Micro-financing (3)
22. Central Banking and International / Global Banking (3)
23. Management of Banking Operations (3) 4. Auditing and Taxation ( 4 Courses – 2 from each segment) Auditing (Any 2 Courses) Taxation (Any 2 Courses)
24. Auditing and Assurance (3)
25. Forensic and Investigation Auditing (3)
26. Internal Control System, Information Systems and Compliance (3)
27. Performance Audit and Evaluation (3)
28. Corporate Taxation (3)
29. Sales Tax, Excise Duty and Customs (3)
30. Local and Provincial Laws ( 3 )
31. Global Taxation (3)

5. Accounting and Finance (4 Courses – 2 from each segment without overlapping) Accounting (Any 2 Courses) Finance (Any 2 Courses)

1. Corporate Reporting (3)
2. Public Sector Accounting (3)
3. Accounting for Associations Not-for-profit ( 3 )
4. Strategic Management Accounting/Performance Management (3)
5. Accounting Information Systems ( 3 )
6. Cost Accounting for Selected Sectors (3)
7. Group Accounting (3)
8. Analysis of Financial Statements ( 3 )
9. International Accounting and Accounting for MNCs (3)
10. Forensic Accounting
    1. Corporate Finance (3)
    2. Investment and Portfolio Management (3)
    3. Risk Management (3)
    4. Financial Markets and Institutions (3)
    5. International Financial Management (3)
    6. Islamic Modes of Financing (3)
    7. Financial Derivatives – Theory and Practice (3)
    8. Analysis of Financial Statements ( 3 )
    9. Financial Appraisal (3)
    10. International Trade Finance and Foreign Exchange Operations (3)
    11. Financial Regulatory Institutions – Status, Functions and Role (3)
    12. Management of Banking and Financial Operations (3) 6. Banking and Finance (4 Courses – 2 from each segment without overlapping) Banking (Any 2 Courses) Finance (Any 2 Courses)

Sr. No. Semester III Cr. Hrs. 1 Business Law 3 2 Technical Writing and Presentation Skills

3 Introduction to Business Finance 3 4 Advanced Accounting-I 3 5 Economic issues of Pakistan 3 6 Introduction to Psychology and 3

Central Banking and 9. Financial Appraisal (3) International / Global Banking 10. International Trade Finance and (3) Foreign Exchange Operations (3) Management of Banking 11. Financial Regulatory Institutions – Operations ( 3 ) Status, Functions and Role (3) SCHEME OF STUDIES BS (COMMERCE)/BCOM (Hons) 4 - YEAR COURSES Sr. No. Semester I Cr. Hrs. 1 Islamic Studies 2 2 Functional English 3 3 Introduction to Business 3 4 Principles of Accounting 3 5 Micro Economics 3 6 Business Mathematics 3 Sr. No. Semester II Cr. Hrs. 1 Pakistan Studies 2 2 Business Communication 3 3 Computer Application in Business 3 4 Financial Accounting 3 5 Macro Economics 3 6 Business Statistics 3 Organization Behavior Sr. No. Semester IV Cr. Hrs. 1 Introduction to Sociology 3 2 English-IV / Information Technology in Business

3 Cost Accounting 3 4 Advanced Accounting-II 3 5 Principles of Management 3

• 6 Inferential Statistics

Detailed Course Outlines for BS-Commerce/BCom ( 4 Years) Course (^) ISLAMIC STUDIES Credit Hours

Pre-requisite NONE Semester I Objectives This course is aimed at: 1.To provide basic information about Islamic Studies 2.To enhance understanding of the students regarding Islamic Civilization 3.To improve Students skill to perform prayers and other worships 4.To enhance the skill of the students for understanding of issues related to Faith and Religious Life. 5.To develop a concrete understanding about divine and explicit Verses, Mandates, Provisions concerning permissible Methods and Modes of Islamic Trade and Commerce

1. INTRODUCTION TO QURANIC STUDIES 1.1 Basic Concepts of Quran 1.2 History of Quran 1.3 Uloom-ul – Quran 2. STUDY OF SELECTED TEXT OF HOLLY QURAN 2.1 Verses of Surah Al-Baqra Related to Faith(Verse No- 284 - 286) 2.2 Verses of Surah Al-Hujrat Related to Adab Al-Nabi (Verse No- 1 - 1 8) 2.3 Verses of Surah Al-Mumanoon Related to Characteristics of faithful (Verse No- 1 - 1 1) 2.4 Verses of Surah al-Furqan Related to Social Ethics (Verse No. 63 - 77) 2.5 Verses of Surah Al-Inam Related to Ihkam (Verse No- 152 - 15 4) 3. STUDY OF SELECTED TEXT OF HOLLY QURAN 3.1 Verses of Surah Al-Ihzab Related to Adab al-Nabi (Verse No.6, 2 1,40, 56 , 57 , 58 .) 3.2 Verses of Surah Al-Hashar (18, 19 ,20) Related to thinking, Day of Judgment 3.3 Verses of Surah Al-Saf Related to Tafakar, Tadabar (Verse No-1,14) 4. SEERAT OF HOLY PROPHET (S.A.W.W)-I 4.1 Life of Muhammad Bin Abdullah ( Before Prophet Hood) 4.2 Life of Holy Prophet (S.A.W.W.) in Makkah

4.3 Important Lessons Derived from the life of Holy Prophet (S.A.W.W.) in Makkah

5. SEERAT OF HOLY PROPHET (S.A.W.W.)-II 5.1 Life of Holy Prophet (S.A.W.W.) in Madina 5.2 Important Events of Life Holy Prophet (S.A.W.W.) in Madina 5.3 Important Lessons Derived from the life of Holy Prophet (S.A.W.W.) in Madina 6. INTRODUCTION TO SUNNAH 6.1 Basic Concepts of Hadith 6.2 History of Hadith 6.3 Kinds of Hadith 6.4 Uloom – ul-Hadith 6.5 Sunnah & Hadith 6.6 Legal Position of Sunnah **7. SELECTED STUDY FROM TEXT OF HADITH

8. INTRODUCTION TO ISLAMIC LAW & JURISPRUDENCE** 8.1 Basic Concepts of Islamic Law & Jurisprudence 8.2 History & Importance of Islamic Law & Jurisprudence 8.3 Sources of Islamic Law & Jurisprudence 8.4 Nature of Differences in Islamic Law 8.5 Islam and Sectarianism 9. ISLAMIC CULTURE & CIVILIZATION 9.1 Basic Concepts of Islamic Culture & Civilization 9.2 Historical Development of Islamic Culture & Civilization 9.3 Characteristics of Islamic Culture & Civilization 9.4 Islamic Culture & Civilization and Contemporary Issues 10. ISLAM & SCIENCE 10.1 Basic Concepts of Islam & Science 10.2 Contributions of Muslims in the Development of Science 10.3 Quran & Science 11. ISLAMIC ECONOMIC SYSTEM 11.1 Basic Concepts of Islamic Economic System 11.2 Means of Distribution of wealth in Islamic Economics 11.3 Islamic Concept of Riba 11.4 Islamic Ways of Trade & Commerce