Wednesday, July 14, 2010

FIN622 GDB Solution

Solution taking idea 1:
Overview of the Statement of Cash Flowsthe statement of cash flows for non-financial companies consists of three main parts:• Operating flows - The net cash generated from operations (net income and changes in working capital).• Investing flows - The net result of capital expenditures, investments, acquisitions, etc.• Financing flows - The net result of raising cash to fund the other flows or repaying debt.By taking net income and making adjustments to reflect changes in the working capital accounts on the balance sheet (receivables, payables, inventories) and other current accounts, the operating cash flow section shows how cash was generated during the period. It is this translation process from accrual accounting to cash accounting that makes the operating cash flow statement so important.Accrual Accounting vs. Cash FlowsThe key differences between accrual accounting and real cash flow are demonstrated by the concept of the cash cycle. A company's cash cycle is the process that converts sales (based upon accrual accounting) into cash as follows:• Cash is used to make inventory.• Inventory is sold and converted into accounts receivables (because customers are given 30 days to pay).• Cash is received when the customer pays (which also reduces receivables).There are many ways that cash from legitimate sales can get trapped on the balance sheet. The two most common are for customers to delay payment (resulting in a build up of receivables) and for inventory levels to rise because the product is not selling or is being returned.For example, a company may legitimately record a $1 million sale but, because that sale allowed the customer to pay within 30 days, the $1 million in sales does not mean the company made $1 million cash. If the payment date occurs after the close of the end of the quarter, accrued earnings will be greater than operating cash flow because the $1 million is still in accounts receivable.Harder to Fudge Operating Cash FlowsNot only can accrual accounting give a rather provisional report of a company's profitability, but under GAAP it allows management a range of choices to record transactions. While this flexibility is necessary, it also allows for earnings manipulation. Because managers will generally book business in a way that will help them earn their bonus, it is usually safe to assume that the income statement will overstate profits.An example of income manipulation is called "stuffing the channel" To increase their sales, a company can provide retailers with incentives such as extended terms or a promise to take back the inventory if it is not sold. Inventories will then move into the distribution channel and sales will be booked. Accrued earnings will increase, but cash may actually never be received, because the inventory may be returned by the customer. While this may increase sales in one quarter, it is a short-term exaggeration and ultimately "steals" sales from the following periods (as inventories are sent back). (Note: While liberal return policies, such as consignment sales, are not allowed to be recorded as sales, companies have been known to do so quite frequently during a market bubble.)The operating cash flow statement will catch these gimmicks. When operating cash flow is less than net income, there is something wrong with the cash cycle. In extreme cases, a company could have consecutive quarters of negative operating cash flow and, in accordance with GAAP, legitimately report positive EPS. In this situation, investors should determine the source of the cash hemorrhage (inventories, receivables, etc.) and whether this situation is a short-term issue or long-term problem.Cash ExaggerationsWhile the operating cash flow statement is more difficult to manipulate, there are ways for companies to temporarily boost cash flows. Some of the more common techniques include: delaying payment to suppliers (extending payables); selling securities; and reversing charges made in prior quarters (such as restructuring reserves).Some view the selling of receivables for cash - usually at a discount - as a way for companies to manipulate cash flows. In some cases, this action may be a cash flow manipulation; but I think it is also a legitimate financing strategy. The challenge is being able to determine management's intent.Cash Is KingA company can only live by EPS alone for a limited time. Eventually, it will need cash to pay the piper, suppliers and, most importantly, the bankers. There are many examples of once-respected companies who went bankrupt because they could not generate enough cash. Strangely, despite all this evidence, investors are consistently hypnotized by EPS and market momentum and ignore the warning signs.The Bottom LineInvestors can avoid a lot of bad investments if they analyze a company's operating cash flow. It's not hard to do, but you'll need to do it, because the talking heads and analysts are all too often focused on EPS.===============================================================Solution Taking idea 2:
Unlike the many ways in which reported earnings can be presented, there is little a company can do to manipulate its cash situation. Barring any outright fraud, the cash flow statement tells the whole story. The company either has cash or it does not. Analysts will look closely at the cash flow statement of any company in order to understand its overall health.PARTS OF THE CASH FLOW STATEMENTCash flow statements classify cash receipts and payments according to whether they stem from operating, investing, or financing activities. A cash flow statement is divided into sections by these same three functional areas within the business:• Cash from Operations—this is cash generated from day-to-day business operations.• Cash from Investing—cash used for investing in assets, as well as the proceeds from the sale of other businesses, equipment, or other long-term assets.• Cash from Financing—cash paid or received from issuing and borrowing of funds. This section also includes dividends paid. (Although it is sometimes listed under cash from operations.)• Net Increase or Decrease in Cash—increases in cash from previous year will be written normally, and decreases in cash are typically written in (brackets).Although cash flow statements may vary slightly, they all present data in the four sections listed here.CLASSIFICATIONS OF CASH RECEIPTS AND PAYMENTS1. Cash from Financing2. Cash from Investing3. Cash from Operations4. Methods of Preparing the Cash Flow Statement

Tuesday, July 13, 2010

Examination Department

Rechecking of Papers
Rules:
A student may request for paper rechecking within three weeks from the publication of the result on payment of the prescribed fee (per paper).
Late requests will not be considered.
Re-checking of answer material will be done to ensure that:
i. No portion of the answer material has been left un- marked
ii. There is no mistake in the grand total
Re-assessment of answer material shall not be permissible in any case
If the marks are increased as a result of rechecking, the Rechecking Fee will be refunded.
The decision of the University shall be final.
The University requires 8-10 working days to recheck the requested paper(s); your paper(s) will be available for download as soon as your request is processed.
Procedure:
In order to request for paper rechecking, follow the steps below:
From within the LMS, click the Student Services button
Click on the Apply for Rechecking of Papers link
A form with the list of your courses having a checkbox in front of each will be displayed
Click the check box(es) against the course(s) that you want rechecked
Click the Submit Request button
Your request will be generated on the form
Click on the Print Voucher link
The voucher will be displayed in a separate window
(Note: In case you want to make any change(s) in your request, close the voucher window, click the Withdraw Request link on the form and start again)
Print the voucher
Deposit the fee in the bank mentioned on the voucher
Make sure to obtain the stamped copy of the paid voucher
Scan and upload the paid copy of voucher using the Upload Paid Voucher link
You will be able to download your rechecked paper (s) after 8-10 working days provided VU-Accounts Department has confirmed the receipt of payments.

Facilities

Facilities
Campus Career Portal
VU has a Career Development Office for the placement of its graduates. This is done through the campus career portal which is powered by Rozee.pk under a National ICT R&D Fund, initiative of the Ministry of Information Technology. Access it by clicking on the Campus Career Portal link on VU homepage under “Quick Links”.
On-line Bookshop
You may place orders for lecture handouts & DVDs through the Bookshop link on the VU homepage.
Virtual Campuses
The university has established campuses across the length and breadth of Pakistan to facilitate its students. The complete list of campuses can be accessed from the VU homepage.
Broadcast Lecture Schedule
VU broadcasts video lectures through its four TV channels (VTV1, VTV2, VTV3, and VTV4). To help manage your time and streamline learning activities, the lecture schedule is provided to you through the “Lecture Schedule” button in the LMS.
DSL Broadband Internet Connectivity
DSL Broadband Internet Connectivity is available at subsidised rates to VU students.
VU Email
VU provides students with their own individual email accounts for which the required username and password are provided by the University in the admission letter. VU email (powered by Google) can be accessed at http://gmail.vu.edu.pk/
Campus-based/home-based Study Option
Students have the option to study at a campus or from home.
VU-CPL (Computer Proficiency License)
Basic Computer and Internet skills are the need of the day and are especially crucial for pursuing any course of study at VU effectively. The Virtual University has developed a complete set of interactive modules for this purpose, collectively known as VU-CPL. These audio/video modules, which are based on a self-learning paradigm, do not require a teacher for acquiring these skills. VU-CPL is available as a two DVD set from the VU Bookshop.
Scholarships
From time to time various scholarships are provided to VU students. Keep visiting/checking the Scholarships link on the VU homepage.
Cable Operators
A list of cable operators, who carry some or all of the VU TV channels, is available from the VU homepage.

Resources

Resources
All resources mentioned below may be accessed from the Virtual University homepage http://www.vu.edu.pk under “Quick Links”
VU Lecture Videos (YouTube)
You can view all VU lecture videos on YouTube directly or at http://www.youtube.com/vu .
HEC Digital Library
The HEC digital library has a host of journals, articles and publications that can assist you in learning.
VU Content Library
The VU Content Library provides access to lecture handouts of all VU courses.
MIT Open Courseware
The MIT Open Courseware is an extremely valuable repository of learning resources provided by the Massachusetts Institute of Technology (MIT) USA.

Plagiarism Sensitisation Document

Plagiarism Sensitisation Document
Academic integrity is extremely important and an integral part of coursework at the Virtual University of Pakistan. Plagiarism is a serious offence to academic integrity; it is academic theft and dishonesty. It is essential that academic integrity procedures and policies are respected and practised at all times.
As a student of Virtual University
Do share ideas with one another
Do consult books, journals, magazines, internet sources as much as possible
Do take care in downloading sources and taking notes
Do use sources wisely and fairly
Do take great care to distinguish your own ideas and knowledge from information derived from sources
Do place quotations properly within quotation marks and cite them fully
Do acknowledge paraphrased material completely
Do expect to make mistakes managing and citing sources. Do expect to correct them
Do learn the myriad rhetorical purposes that including and citing sources can serve
Do have fun with sources, think of using them as weaving, building, playing with blocks, or any other metaphor that you associate with "taking what's at hand and making something of it”
Do discover an argument so you have a distinctive voice in your own assignment/paper, and are not overwhelmed and intimidated by sources
Do develop and assert your own ideas and beliefs – to think for yourself. But at the same time do engage the thinking of others, to place your own writing within the context of academic discourse by using and criticizing arguments from that discourse
Do use the word processor to help you manage sources (for example, put sources you are quoting or paraphrasing in a different font and font color until the final draft so you don't accidentally forget they came from some other writer)
Do observe the practice of careful record-keeping. Always write down the author, title and publication information (including the URL and other identifying information for web pages) so you can attach names and dates to specific ideas later while writing your assignment or paper
Do learn to like your writing; even when it is bad, hand it in any way, and know we will always find something to like about it.
Do learn how to write in your own style. Writing is a valuable exercise that tests your ability to explain a topic
Do consult your instructor if you are in any doubt about the preparation of academic work before the work is prepared or submitted
Do consult us (i.e. your instructors) whenever you have a question about the course, are feeling overwhelmed, or unhappy with an assignment or your work; we can discuss and find a way to make things work
Plagiarism – definition and what constitutes plagiarism
Plagiarism includes lifting information (text or graphics) from an original source without quotation marks (in the case of text), reference, or acknowledgement, as well as paraphrasing without reference or acknowledgement to the original source.
Applying, analysing, criticising or quoting other people’s work is perfectly reasonable and acceptable provided you always:
Attempt to summarise or restate another person’s work, theories or ideas and give acknowledgement to that person. This is usually done by citing your sources and presenting a list of references.
Or
By always using quotation marks (or indenting lengthy quotations in your text) to distinguish between the actual words of the writer and your own words. Once again, you should cite all sources and present full details of these in your list of references
All of the following are considered plagiarism:
Collusion without official approval between two or more students, with the result that identical, or near identical work, is presented by all those involved
Copying another person’s work, including the work of another student (with or without their consent), and claiming or pretending it is your own
Copying words or ideas from someone else without giving credit
Failing to put a quotation in quotation marks
Giving incorrect information about the source of a quotation
Changing words but copying the sentence structure of a source without giving credit
Copying so many words or ideas from a source that it makes up the majority of your work, whether you give credit or not
Buying a paper, or turning in a paper written by someone else
Paraphrasing someone else without giving credit
Copying and pasting text from a web site without quotation marks and appropriate citation
Why Should You Cite Sources
Whenever you are citing a source, you are actually strengthening your writing
Citing a source, whether paraphrased or quoted, reveals that you have performed research work and synthesised the findings into your own argument
Using sources shows that you are engaged in "the great conversation," the world of ideas, and that you are aware of other thinkers' positions on the topic. By quoting (and citing) writers who support your position, you add strength to the position
By responding reasonably to those who oppose the position, you show that there are valid counter arguments
Appropriate quoting and citing also evidences your respect for the creators of ideas and arguments--honoring thinkers and their intellectual property
Giving due credit and acknowledgement to others work adds to your credibility and demonstrates that you know what is going on in your field of study
Letting your reader know exactly which authorities you rely on is an advantage. It shows that you have done your research and that you are well acquainted with the literature on your topic
Giving proper citation and referencing is also a courtesy to your readers because it helps them consult the material you have found. That is especially important for Internet sources
In a nutshell, citing helps make the assignment stronger and sounder and will probably result in a better grade.
Who Is Really Being Cheated When Someone Plagiarises?
You are in University to get an education, to prepare for a better career, and subsequently a more productive life. All the assignments, reports and projects that take so much time, give you a chance to develop and strengthen critical thinking and evaluative skills that enable you to make decisions.
Copying, cheating or plagiarizing short circuits a number of learning experiences and opportunities for the development of skills: actually doing the work of the research paper or assignment rather than counterfeiting it gives you not only knowledge of the subject and insights into the world of information and controversy, but improves research skills, thinking and analyzing, organizing, writing, planning and time management, and even meticulousness (those picky citation styles actually help improve one's attention to detail). All this is missed when the assignment is faked, and it is these missed skills which will be of high value in the working world. A degree will help you get a first job, but performance - using the skills developed by doing the given rigorous assignments will be required for promotion. If you cheat, you rob yourself of a learning opportunity and make yourself less prepared when you get out in the real world. So, in the long run, plagiarism even hurts the cheater.
Note:
The responsibility for learning the proper forms of citation lies with the individual student. (Refer to the Academic Integrity Tutorial links)
It is the responsibility of students to learn the craft of scholarly referencing and to accurately cite the work of others in their own assignments.
Students are expected to be familiar with the plagiarism sensitization document.
If you have any questions at any time about whether something that you are considering might involve an instance of plagiarism, please consult with your instructor before you act.
Academic Integrity Tutorials
The following is a list of useful websites providing online interactive tutorials on academic integrity. You will visit all of them to get familiar with plagiarism, citation, referencing, proper quoting, paraphrasing and summarizing etc. In most of the following websites quizzes and tests are given to check your understanding. Do attempt them. However, note that the academic integrity policy and rules given in the following websites do not apply to you. You are subjected to Virtual University Academic Integrity Policy.
There are numerous styles of citation and referencing, however, you are required to use APA citation style in all your assignments and coursework at Virtual University. In the following websites, focus on the APA style.
Canadian Universities
You Quote It, You Note It! Acadia University
Understanding and Avoiding Plagiarism, Simon Fraser University
Academic Integrity Tutorial, Brock University
Test Yourself, University of Ontario Institute of Technology
American Universities
Bruin Success With Less Stress, University of California, Los Angeles
Plagiarism: What It Is And How to Avoid It, Montgomery College, Maryland
Quiz on Academic Integrity, University of Southern California
Virtual Academic Integrity Laboratory, University of Maryland University College
How to Avoid Plagiarism, University of Maryland University College
Understanding Plagiarism, Indiana University Bloomington
A very helpful audio tutorial by UMUC on APA citation style
University of Waterloo Academic Integrity Tutorial
Plagiarism Tutorials & Tests
Plagiarism Tutorial, (UConn) brief introduction to basic citation practices
How to Recognize Plagiarism, tests paraphrasing techniques
Tools Recommended for Students
Citing Sources, introduction to basic information
Citation Machine, interactive citation tool for MLA and APA styles
KnightCite, interactive citation tool for MLA, APA, and Chicago styles
University Policy
Penalties exist to reassure honest students that their efforts are respected and valued, so much so that those who would escape the work by fakery will be punished substantially.
Virtual University of Pakistan has Zero Tolerance Policy as far as plagiarism is concerned. Strict action is taken in case plagiarism is detected including expulsion from the University.

The Use of email/ Email Etiquette

The Use of email/ Email Etiquette
General Points when Communicating with VU
Use email when it is really required.
Send your email to the relevant address only. Do not send copies to irrelevant or extraneous addresses; this may, in fact, delay any response/action that you may be requesting. The email addresses of all concerned offices are given in the ‘Contact Us’ list on the University’s website.
To get a reply of your email, wait for at least two days. You can send a polite reminder if you do not get a reply after two days.
Use a Meaningful Subject
The email subject should be detailed enough to give the recipient an idea about the email content without having to open it. Single words like "Hi" or "Hello" or "Help" are a strict no-no. Think of meaningful but short titles.
Be Concise and To The Point
Keep you email message short and to the point. Sentences like "I hope this email finds you alive and well" look good only in letter correspondence.
Read the email Before You Send It
Do not hit the “Send” button without doing a spell check (use the Check Spelling option). An email with spelling mistakes or grammatical errors indicates that you have written the message in a non-serious mood and may convey a bad impression. There’s no taking back a comment that has already been sent, so it is important to double-check all writing to make sure that it clearly conveys the exact intended message. Apart from this, reading your email through the eyes of the recipient will help you send a more effective message and avoid misunderstandings and inappropriate comments.
Do Not Write in CAPITALS
IF YOU WRITE IN CAPITALS IT SEEMS AS IF YOU ARE SHOUTING. This can be highly annoying and might trigger an unwanted response. Therefore, try not to send any email text in capitals. Follow the rules of grammar and punctuation as you would in a formal letter. That means not writing in all caps or all lower-case letters.
Use Proper Structure & Layout
Since reading from a screen is more difficult than reading from paper, the structure and layout is very important for e-mail messages. Use short paragraphs and blank lines between each paragraph. When making points, number them or mark each point as separate to keep the overview. Do not use ‘Roman English’ i.e. writing Urdu in English because it is very difficult to read.
Be Aware of Your Tone
The "tone" is a very important part of electronic communication. You might find it helpful to read your email out loud before you submit it. When you read your message out loud does it sound the way you would speak to another student or the course facilitator in the classroom? Additionally, avoid writing a professor if you're feeling angry about a grade or some other aspect of the class. Write it after you have cooled off. A good way for you to determine if your question merits an email is to ask yourself, "Is this question important enough to make a trip to my professor's office?" If you decide it isn't worth the effort, you probably shouldn't bother sending it in an email.
Avoid Language that May Come Across as Strong or Offensive
Language can be easily misinterpreted in written communication. If a point must be stressed, review the statement to make sure that an outsider reading it would not be offended, and then post the statement. Humor and sarcasm may easily be misinterpreted as well, so try to be as matter-of-fact and professional as possible.
Consider the Privacy of Others
Ask permission prior to giving out a classmate's email address or other information.
Elements of a Good Online Writing Style

Key element
Purpose
Strategies
Clarity
To communicate clearly
Create single-subject messages whenever possible.
Open the email message with a sentence that either:
Connects it to previous correspondence, or identifies its purpose.
Focus on the subject and purpose.
Arrange ideas in a logical sequence.
Readability
To make information accessible
Use about 15 to 20 words per sentence.
Limit each sentence to one idea.
Use complex sentences of 25 to 35 words sparingly as they require a high level of reading skill.
Vary the length of sentences to add rhythm and interest to your writing.
Use the active voice.
Avoid slang.
Remove ambiguous and unnecessary words.
Positive language
To create a positive first impression
Use direct and courteous language.
Choose positive rather than negative words.
Punctuation
To keep the meaning clear
Start a sentence with a capital and end with a full stop.
Check that the sentence is not too long.
Separate ideas by using paragraphs.
In general, use more full stops than commas.
Tone
To establish the communication climate
Avoid emotional responses (called ‘flaming’).
Use a courteous and tactful tone.
Use an appropriate level of formality

How to Do Assignments at VU

How to Do Assignments at VU
Manage your study time well by using a planner or diary to pace your activities appropriately. Start your course assignments early. Do not wait until the last moment. You will need time to gather relevant information, discuss and interact with your course mates and look for additional resources to complete the assignments.
Read through the assignment carefully and find out exactly what is required. Underline key words such as discuss, compare, consider, how would… Those words will tell you what to do for your assignment.
In particular, pay special attention to any format requirements mentioned in the assignment. Many times, the solution is required as a spreadsheet or a word-processed document and tutors may refuse to award marks if the formatting requirements are not followed.
The first thing before doing the assignment is to understand the assignment completely. If anything in the assignment is unclear, you may ask your peers and tutors.
Brainstorm and jot down your original ideas on paper or in your computer.
Look back at the question again to check that you are answering it correctly.
Be to the point. For example, in a descriptive question, there is no need for long introductions or a verbose answer. Don’t just write about the subject, relate your answers to the given points in the assignments and give your own insight/thoughts on it. Make simple sentences, this will reduce language and grammar mistakes.

How to Take Lectures at VU

How to Take Lectures at VU
From within the LMS, click the Lecture Schedule button to view your weekly schedule
Check the ‘Course Calendar’ to see the relevant page/section of the handout/ recommended books and the Internet links for your current lecture
Read the handouts prior to taking the video lecture
Watch the video lecture and prepare your own notes
Read the relevant page/section of the handout/ recommended books as mentioned in the course calendar and visit the Internet links by clicking on the Internet links tab on the course website
Ask any lectures related questions through the moderated discussion board (MDB).

How Study at VU

Getting Started
The Study Methodology
As in any conventional university, you will attend lectures, interact with your tutors and peers and take semester examinations – the big difference being the method used for these activities. Virtual University lectures are delivered through the use of broadcast television, DVDs and even the Internet. All student-teacher interaction takes place over the Internet using a comprehensive Learning Management System (VU-LMS) deployed for this purpose on VU's servers. Examinations are conducted in a formal proctored environment at designated centers across the country using software designed specially for this purpose by the Virtual University of Pakistan.
VU-LMS
The Virtual University Learning Management System is a comprehensive software platform that allows students to manage their educational experience while studying at the University. The VU-LMS allows you to:
Maintain and update your personal information
Receive important announcements from the University
Maintain a personal diary and notes
View your lecture schedule
Read lecture notes
Download assignments and submit your solutions for grading
Ask questions from your tutors and receive replies to the same
Participate in quizzes and class discussions
View your results and monitor your academic progress through your grade book
View your fee status and download your fee vouchers for payment at the bank
Access a host of student services such as requesting for lost Id Cards etc.
You may want to refer to the Orientation CD that you received with your Admission Package for further information about the above features.
Getting Used to VU-LMS
Watch the Orientation Video sent to you in the Admission Package. This video will give you an overview of the University, VU-LMS and the VU Exam system.
Now you should login using the login name and password provided to you by the University. Navigate through the various features of VU-LMS and familiarize yourself with them.
You should never share your password with anyone. Doing so may divulge your personal information that you may not have wanted to share. Remember: you will be held personally responsible for all actions performed through your LMS account.
Get the Recommended Books
In your LMS account you will see the courses you are registered for during the current semester.
When you enter each course's website, you will see a list of recommended books under the “Books” tab. You are urged to obtain the recommended books since they will help you achieve a deeper understanding of the subject material.
Access VU Lecture Videos
Course lectures are broadcast on the Virtual University's TV channels, VTV1, 2, 3 & 4. You can see your timetable from the “Lecture Schedule” tab in your LMS. Please contact your local Cable Operator if you can not access these channels. The list of Cable Operators can be accessed from the VU homepage under Student Services.
Virtual University has also established a full channel on the very popular youtube web site. To view lectures at any time of your convenience, you can visit http://www.youtube.com/vu. The same link is available on the main VU website under VU Lecture Videos.
Finally, you can obtain all VU courses on DVDs from the Virtual University bookshop at nominal cost. Each DVD carries one complete course and frees you from the time constraints of the broadcast schedule and the bandwidth requirements of the online lectures.
DSL Broadband Internet Connectivity
If you are registered at a VU campus, you will be provided computer access and Internet connectivity free of cost.
However, if you are studying from home you will need to have your own computer and an Internet connection.
DSL Broadband Internet Connectivity is available to VU students at subsidized costs.
The same DSL Broadband facility can also be availed by campus students who have their own computers.
Access the Handouts
Course Handouts are available on each course's website from the Lessons tab as well as the Download tab.
They are also available for free download in the VU Content Library.
In case you wish to acquire a paper copy of the handouts, you can buy them from the University’s Bookshop.
Manage Your Time
Try to list down your daily activities along with approximate time required for each activity. This will help you in effectively managing your time.

Important Note

Important Note
In the Internet age, it is critically important to understand that any information that you send electronically or place on a remote web-site (or even on a computer at a public place) may be accessed by other individuals regardless of whether you allow them to do so or not. In this context, please keep the following guidelines in mind all the time:
You should never share your password with anyone. Doing so may divulge your personal information that you may not have wanted to share
Your login ID and password are also the custodians of your academic efforts. Allowing access to your work may enable an unscrupulous individual to copy your work and claim it as his/her own. The University has a zero-tolerance policy on copying and plagiarism and all participants in such activity will get a zero grade as a minimum
You will be personally held responsible for all actions performed through your e-mail or LMS accounts, since both of these are password protected and only you are supposed to know your password.

Profile of a VU Student

Profile of a Successful Virtual University Student
Successful Virtual University students:
take responsibility for their own learning
are self motivated and self-disciplined
understand that “online” is a far more convenient way to learn
are comfortable and confident with written communications
are willing to be members of an online community
are open minded about sharing life, work, and educational experiences as part of the learning process
are always willing and open to acquiring new skills
are willing to "speak up" if problems arise
think ideas through thoroughly, before sharing them with others
actively and appropriately participate in class discussions
complete and turn in assignments on time
use time and resources efficiently and stay focused on the task at hand
approach each day with a positive attitude
treat others with respect and courtesy, even online
accept others and their points of view
maintain healthy professional relationships among their peers
cooperate and work well with others, especially in cyber-space
believe in collaboration and healthy competition
demonstrate good character in helping and encouraging others
use polite and acceptable language when communicating
are expected to demonstrate the highest levels of honesty and integrity
build mutually supportive relationships that assist them in pursuing their goals and dreams
become life-long learners
find valuable lessons from everything they experience
are willing to commit the required amount of time to their studies
are critical thinkers and reflective practitioners
believe that high-quality learning can happen anywhere, anytime
are active, creative and engaged in the learning process.

MGT603 Assignment # 1

Question: "Key External Factors"
"As you have studies about external and internal factors in an industry analysis. Your job is to identify only the key external factors (Treats and Opportunities) of Virtual University of Pakistan. You should point out at least 10 Opportunities and Threats of Virtual University. Further more your points should be in a bullet form and avoid any further explanation."
Answer:
External Opportunities Virtual University of Pakistan:
Ø Virtual University of Pakistan is government based university.
Ø The study method Simple and same throughout the world.
Ø Affordable Fee for every student.
Ø The schedule flexible for every student.
Ø Same study language and standards for the various provinces.
Ø The University own broadcasting system.
Ø The services are very quick with high quality web site.
Ø The staff is efficient and highly qualified.
Ø The first Pakistani online University.
Ø Competitive edge with internet & computer skills.

External Threats Virtual University of Pakistan:
Ø Not available of updated video lectures and Handouts.
Ø Lack of new educational programs in line with customer need.
Ø Deficiency of staffing.
Ø Current law and policy has not kept up with reform objectives.
Ø Not yet gained much acceptance by him private sector industries. Not yet popular to accept the online MBA.
Ø Computer skill is a must, especially the one dealing with the internet.
Ø More time waste in written communication with students.
Ø Like of live presentation, negotiation and live interaction with teachers as compare to other universities.
Ø For the student, it is also costlt, since they need a desktop computer, or a notebook, with multimedia and printer.
Ø Student in distance leaning environment tend to have a lower level of satisfaction with the distance education course than do their counterparts in face-to-face instructional environment.

FIN623 Assignment # 1

"LEGAL STATUS"
Question:
Identify the legal status of the following persons according to the Income Tax Ordinance 2001;
a. Virtual University of Pakistan
ANS: Company
b. Bank Al-Falah Ltd.
ANS: Banking Company
c. WAPDA Town Employees Housing Society
ANS: Company
d. Mr. Akhter Ali Sheikh serving as a Manager in Chenab Textile Mills
ANS: Individual
e. Mrs. Batool serving as a Director in ABC Private Ltd. Company
ANS: Individual
f. Haji Murad Trust Eye Hospital
ANS: Company
g. Ali Ibrahim’s an unregistered firm of Mr. Ali Ahmad and Mr. Ibrahim Butt.
ANS: Firm
h. Mr. Vikaas Bhalla (a Hindu), his sons and Mr. Veer and Mr. Raj
ANS: Hindu Undivided Family
i. Ansaar Barni Welfare Trust
ANS: Company
j. Askari Islamic Bank Ltd.
ANS: Banking Company

FIN622 Assignment # 1

Question:
Required: • Calculate the payback period of each project.• Calculate the Net present value (NPV) of each project.• On the basis of results of pay back period and NPV, which project would you recommend to your company and why?
1. The payback period of each projectThe Payback Period (PP): For the Project A = Initial Investment / Cash Flow (I0/Ct)= 57000/20000= 2.85yearThe Payback Period (PP): For the Project A Payback period lie between 2nd year and 3rd yearSum of the money recovered by the end of second year= (22000+20000)= 42000Sum of money recovered by the end of 3rd year
= (54000 – 42000) = 12000= [2+ 12000/18000) years= 2.667 years2. The Net present value (NPV) of each projectNPV for project A:
Formula: (CFn * PVFA at 14% for 4 years) – Initial InvestmentPVFA at 14% for 4 years:
= [1/ (1+i) ^ n + 1/ (1+i) ^ n + 1/ (1+i) ^ n + 1/ (1+i) ^ n]= [1/ (1+0.14) ^1 + 1/ (1+0.14) ^2 + 1/ (1+0.14) ^3 + 1/ (1+0.14) ^4]= [0.8772 + 0.7695 + 0.6749 + 0.5920]= [2.9136]By putting values in Formula:= (20000 * 2.9136) – 57000= 1272NPV for project B:Formula:Sum of the NPV (CFn) – Initial investmentSum of the NPV (CFn)= [CF1/ (1+i) ^ n + CF2/ (1+i) ^ n + CF3/ (1+i) ^ n + CF4/ (1+i) ^ n]= [22000/ (1+0.14) ^1 + 20000/ (1+0.14) ^2 + 18000/ (1+0.14) ^3 + 16000/ (1+0.14) ^4]= 19298.246 + 15389.352 + 12149.487 + 9473.284= 56310.368By putting values= 56310.368 – 54000= 2310.3683. On the basis of results of pay back period and NPV, which project would you recommend to your company and why?
Project A 2.85 year PPProject B 2.667 year PP
According to the PP of both projects, I will also recommend Project B, because in Project B payback period (PP) is less than Project A.Project A 1272.00 NPVProject B 2310.368 NPVAccording to the result of NPV of both projects, I recommend project B because NPV of project B greater from project A.

CS507 Contents

Introduction, Information In Organizations, Organization and Information Requirement, Organizational structure, Business Environment, Information System, Component of System, Types of System Infrastructure, Online Analytical Processing, CBIS from Functional View Point, Financial Sector Application Accounting & Financial Information Systems, Critical Decisions Making, Phases of decision-making process, Planning for System Development, Systems Development Life Cycle, System Design, Incremental Model, Spiral Model, System Analysis, Analysis & Design Methods, Symbols, DFD’s, Entity Relationship Diagram, Object Oriented Analysis and Design, Critical Success Factor, Security of Information System, Threat Identification, Control Adjustment, Viruses, Antivirus software Types of Controls, Audit trails and logs, Risk Management, Control Analysis, Business Continuity Planning, Web Security, Factors Encouraging Internet Attacks, E-Commerce, Supply Chain Management, Enterprise Resource Planning, Change Management, Importance of ethics in IS.

CS507 Assignment # 1

Information System (CS507)
Spring 2010
Assignment No. 1
Due Date:
Your assignment must be uploaded/submitted before or on 27th April 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.

Q. 1: How can you describe information in its ideal form? Moreover how ideal information would help us regarding decision making in our routine activities?
(Marks: 10) Answer:
Ideal Information:
Information is said to be in its ideal form if it is:
1- Periodically/ continuously updated:
The information should be updated from time to time so that whenever accessed, the user should get the most recent information and be fully informed.
2- Efficient Processing:
Data should not be kept unprocessed for a long period of time; rather it should be processed at regular intervals which help in effective decision making.
3- Value driven:
The information gathered from a certain environment in our computerized systems should add value to the user’s knowledge.
4- Audience Centered:
The information to be in its ideal form should exhibit the characteristic of being audience centered, so that everyone receives his relevant part of information out of the aggregate.
Ideal information and decision making:
In the absence of an accurate, reliable and well-timed information people and organizations will be unable to make decisions effectively; they will be unable to help or persuade others to make better decisions and no one will be able to ascertain whether the decisions made by particular individuals or organizations were the best ones that could have been made at that time.
Therefore information in its ideal form (being accurate and reliable) is vital for the effective decision making in almost every aspect of business whether it is undertaken by individuals, community organizations or governments. It is an essential component of any effort to persuade businesses to make better and optimal decisions from the ones which they might have made in the absence of such information.

Q. 2: Identify and explain different decision making approaches.
(Marks: 10)
Answer:
Following are the different decision making approaches:
a. Structured
b. Unstructured and
c. Semi structured

Structured decision making approach:
Structured decision making is a general term for carefully organized analysis of problems in order to reach decisions which are focused clearly on achieving fundamental objectives.
In structured decision making, procedures are predefined for solving routine repetitive problems. These decisions are made under the established situations and are preplanned which is possible only when we have fully understood the situation.


Unstructured decision making approach:

We use to make unstructured decisions when the situation is complex and no standard solutions exist for resolving the situation; when some or all of the structural elements of the decision situation are undefined, ill-defined or unknown. For example:
Goals may be poorly defined, alternatives may be incomplete or non-comparable, choice criteria may be hard to measure or difficult to link to goals.
The unstructured decisions are basically the non-programmed decisions which are happening for the first time and therefore require individual judgment, evaluation and insight varying on case-to-case basis. That’s why such types of decisions are creative and are not preplanned.

Semi-structured decision making approach:
We follow semi-structured decision making approach where some aspects of the problem are structured and others are unstructured.
Such decisions lie in the middle of structured and unstructured approaches and this is where most of our true decision support systems are focused on. Decisions of this type are characterized of having some agreement on the data, process, and evaluation to be used but are also typified by efforts to retain some level of human judgment in the decision making process.

CS507 Assignment # 2

Information System (CS507)
Spring 2010
Assignment No. 2
Due Date:
Your assignment must be uploaded/submitted before or on 08th May 2010.
Max Marks: 20
Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.
The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.
Rules for Marking:
It should be clear that your assignment will not get any credit if:
The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.
Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.
Font style: "Times New Roman"
Font color: "Black"
Font size: "12"
Bold for heading only.
Font in Italic is not allowed at all.
No formatting or bullets are allowed to use.


Q. 1: What is the role of CRM in challenging economy?
(Marks: 10)


Answer:
CRM in challenging economy?
In today’s economy organizations can’t rely on brute strength t s and tools. CRM is a technology that allows organizations to track and leverage every customer o maximizes the value of their customer relationships; rather, they need enabling technology interaction to maximize revenue opportunities and improve customer loyalty.
But CRM does much more than just track customer interactions. It also helps organizations optimize their operations by automating routine tasks and standardizing best practices. Ultimately, CRM allows organizations to better acquire, manage, serve, and extract value from their customers while improving operational efficiency something that is critical in today’s economy.
While there are surely many approaches being espoused in the market today, we believe there are five main strategies that companies can employ to survive and thrive during uncertain economic conditions:
1. Focus on existing customers
2. Maximize revenue opportunities
3. Do more with less
4. Reduce operational costs
5. Optimize existing IT assets

Q. 2 Why Many CRM initiatives, however, fail to deliver the expected benefits?
Marks (10)
Answer:
Many CRM initiatives, however, fail to deliver the expected benefits. This is largely due to the same set of issues:
Customer privacy is an important issue in CRM. CRM deals with large amounts of customer data through various touch points and communication channels. The individual firm is thus caught in an ethical dilemma – collecting as much information as possible but still respecting limits for personal privacy. . Poor quality customer data and information. CRM being primarily about information it is vital that this aspect is considered before the initiative commences.
Software issues: There are little standardized technologies and protocols for CRM implementation in the market. Vendors publish new versions of CRM software as frequently as they can thus adding to client’s expenses. CRM software requires highly integrated environment for high productivity, which is rarely available.
Business support was lacking - poor buy-in from the business was obtained or no buy-in from the business was sought. This resulted in little ownership within the business and therefore failed implementation or poor usage.
The planning had insufficient detail or depth - introducing CRM into an organization is a major initiative and if it is not planned adequately then it will fail. Usually the scale and nature of the operational change (as opposed to the systems change) was underestimated. It is easy to install a system. It is much harder to change people's work practices.
It was poorly implemented - which usually means that staff were not trained adequately and neither were the right changes put in place to introduce a new culture
The Executive had little customer/CRM understanding or involvement. Too often it was seen as a tactical issue and therefore insufficiently senior sponsorship is sought

CS507 Assignment # 3

Information System (CS507)
Spring 2010
Assignment No. 3

Due Date:
Your assignment must be uploaded/submitted before or on 20th May 2010.

Max Marks: 20

Uploading instructions:
Please view the Assignment Submission Process document provided to you by the Virtual University for uploading assignments.

The assignment should be in .doc format.
Save your assignment with your ID (e.g. bx020200786.doc).
The assignment submission through email is highly discouraged.

Rules for Marking:
It should be clear that your assignment will not get any credit if:

The assignment is submitted after due date.
The submitted assignment file is corrupted.
The assignment is copied.
The assignment material is directly copied from internet.

Note:
Your answer must follow the below given specifications. You will be assigned no marks if you do not follow these instructions.

Font style: “Times New Roman”
Font color: “Black”
Font size: “12”
Bold for heading only.
Font in Italic is not allowed at all.


Q. 1: How can you describe the factors which will ensure the successful implementation of SDLC? Explain at least three.


(Marks: 10)


Answer :( 3.33+3.33+3.33)




Management Support

Developers/system designers need to have the support of the management as much as possible since the management will dictate whether they need the product or not.
Technical and Business Expertise

There are regular programmers and there are really smart programmers who just know what to do even when the software’s objective is presented for the first time. These programmers know what SDLC model to use together with the languages or toolkits that need to be learn to ensure this program is a success. On the other hand, business expertise is also important in software development cycle since they will dictate the demand for particular software. Business expertise is also important in SDLC since they will determine whether the software will eventually be a factor in time and money saving.

Proper Documentation/ Deliverables for Maintenance

Granting the results of the software development is a success; it’s time to place them in all in papers. Success in building software will only be gauged once they are released to the pubic with ease. Although there will be problems, it’s up to the developers to maintain these programs until these are decommissioned. If worst comes to worst and it has to go back to the drawing board, documentation will tell the developers where they might have done it wrong.

Security

Security should be the number priority of any developers. The ability to handle information and protect them from attack will tell how professional the business is. It’s important to look for these defects before they are actually released to the public.



Q. 2: List down the pros and cons of Incremental Model? Also mention when to use the Incremental Model?
(Marks: 10)

Answer :( 3.33+3.33+3.33)


Incremental Model Pros
Working functionality is produced earlier – computation of value to cost ratio
Reduces risks of change in user requirements
Provides clients flexibility in decision making.
Risk management is incremental
Smaller scope for change in user requirements
Develop high-risk or major functions first
Each release delivers an operational product
Customer can respond to each build
Lowers initial delivery cost
Initial product delivery is faster
Customers get important functionality early
Risk of changing requirements is reduced

Incremental Model Cons

Larger picture cannot be seen until the entire system is built
Difficult to break down the total system at early stage of product development to determine reasonable increments
Requires good planning and design
Total cost of the complete system is not lower

When to use the Incremental Model
Need to reduces risks of change in user requirements and reduce program complexity.
Provides clients flexibility in decision making
A need to get basic functionality to the market early
On projects which have lengthy development schedules

FAQS

Q. Is the Virtual University a private or Government institution?
Ans. Virtual University of Pakistan is very much a Government University. It was established by the Government of Pakistan to provide extremely affordable world class education to aspiring students all over the country.
Q. Does the University have different standards for the various provinces?
Ans. Absolutely not. The Virtual University provides an identical education to all its students regardless of their geographical location. All Virtual University students, regardless of whether they live in large cities or small towns or even remote areas are taught by the same professors, receive the same study materials. Even examinations are identical throughout the country.
Q. How is identical education possible all over the country?
Ans. The Virtual University uses free to air television for broadcasting its lectures and interaction between students and tutors happens over the Internet. Examinations are conducted in a formal proctored environment at centers allocated for the purpose by the University. The Virtual University operates its own four television channels (VTV1, VTV2, VTV3 & VTV4). Students listen to the lectures in classroom environment in virtual campuses spread all over the country. The students are provided at these campuses, free Internet facility to interact with the teachers. All lecture videos of Virtual University courses are also available for a very nominal cost.
Q. Who are the Professors at the Virtual University of Pakistan?
Ans. The Virtual University utilizes the services of the very best professors that the country has to offer. They belong to the best universities and other institutions of the country and are acknowledged masters of their subjects. Most of the professors hold PhD degrees and even several vice-chancellors of major national universities have taught courses at the Virtual University.
Q. Then VU education must be very expensive!
Ans. You will be surprised at the affordability of Virtual University programs. Despite the provision of world-class facilities and education, the cost of a BS program is only Rs. 1300 per month. The fee for the Diploma program is Rs.1,850 while MCS, MIT and MBA fees are only Rs. 2,000 per month. The fee for the MS program in Computer Science is Rs.2,500/- per credit hour.
Q. So where do I study?
Ans. If you are a full time student then you should join any one of the more than 100 campuses of the Virtual University. These are located in over 60 cities of the country and the list is available on the VU web-site (http://www.vu.edu.pk). By studying at any of these campuses you will be able to interact with your class-fellows and also avail free computer and Internet facilities which are required for student -teacher interaction. However, if you are a working professional or it is difficult for you to attend classes at a campus, then you can study from home. In this case you will need a television, and a computer with Internet connectivity.
Q. And how do I study?
Ans. You attend lectures as per the declared timetable through Virtual University's television network which operates four channels VTV1, VTV2, VTV3 and VTV4. The schedule is always available on the VU web-site. In case you miss any lecture, all Virtual University courses are also available on CDs at very nominal cost. In addition to the prescribed text books, extensive reading material is made available over the Internet through the university's Learning Management System (LMS).
Q. What if I need to ask a question?
Ans. You can ask questions at any time over the Internet using the Virtual University's comprehensive Learning Management System (http://vulms.vu.edu.pk). No other university of the country offers such a facility.
Q. How do I appear for my exams?
Ans. The Virtual University establishes examination centers throughout the country. Examinations are conducted under the supervision of the examiners who ensure the sanctity of the process.
Q. Is the VU degree recognized?
Ans. The Virtual University has been established by the Government of Pakistan. As such, its degrees are recognized nationally as well as internationally. Please visit the HEC web-site (http://www.hec.gov.pk/new/main/ourinstitutes.htm)

Q. From where can I obtain the lecture CDs?
Ans. CDs are easily available through the Virtual University bookshop (http://bookshop.vu.edu.pk). Availability of CDs is not limited to VU students only; students and faculty from other universities as well as the public at large can benefit from these courses.
Q. Can Virtual University help me to learn how to operate a computer?
Ans. Definitely. You do not need to go to any computer center to learn the basics of computers. The Virtual University has developed a very exciting and comprehensive set of interactive CDs that will lead anybody through the basic learning process. No teacher is necessary and all instructions on these CDs are delivered in Urdu, thereby making them extremely easy to understand and follow for all age groups.
Q. Are the courses offered by VU comparable to international standards?
Ans. Yes. Virtual University programs are based on curricula developed by the Higher Education Commission (HEC). The course outlines used in these curricula are based on international demands and standards.
Q. Will I be able to continue my education in any other university after obtaining a degree from VU?
Ans. Definitely. In fact, VU graduates are already pursuing their MS and higher studies at top universities both within Pakistan as well as abroad.
Q. How can I get my admission form and where should I submit it?
Ans. You can get the form and all necessary information from any of the Virtual University campuses. You can submit completed application forms along with all required documents to the same campus or directly to the Virtual University Head Office. You may also download the form without charge from the VU web-site (http://www.vu.edu.pk/apply).

GUIDELINES FOR PROFESSORS / CONSULTANTS

GUIDELINES FOR PROFESSORS / CONSULTANTS
Courses Needing Development/ Updating
VU Requires
VU requires the developed course contents in the form of:
1. Well-rehearsed and timed recorded video of each lesson.
2. Support material for TV Inserts, which includes, e.g., Slides, Graphics, and Video Clips.
3. Support material for Web Inserts, which includes e.g., Slides, Graphics, animation, and Video Clips.
4. Assignments, exams (mid term and final), etc.
To achieve the above mentioned, responsibilities of the professor and VU are outlined in the following:
A. Responsibilities of Professor
1. Development of detailed course outline based on curriculum defined by VU/HEC. Where a course outline is not available on the VU web site (http://www.vu.edu.pk/AcademicPrograms/CoursesCatalogue.aspx), the Professor may wish to refer to the approved HEC curricula (http://hec.gov.pk/InsideHEC/Divisions/AECA/CurriculumRevision/Pages/ApprovedCurriculam.aspx). However, it is assumed that the professor would be experienced enough to suggest modifications/changes to the course outlines. A lesson plan with course calendar (first lecture = day ONE), and grading scheme (weightage etc.) should also be developed.
2. For each lecture to be recorded:
i. Prepare a detailed script (for Professor’s own reference)
ii. Rehearse timings as per VU requirements
iii. Prepare slides (e.g., PPTs, to be provided electronically)
iv. Prepare graphics (Figure, tables, etc., to be provided electronically)
v. Define animations for video insertions where appropriate
3. Recording of lectures (minimum 4) every week on scheduled days/times decided in consultation with VU and its production team.
4. Provide lecture support materials for web based contents in electronic form consisting of, but not limited to, the following:
i. Lesson Notes
ii. Slides
iii. Graphics and Animations
iv. Links to other resources
v. Further reading (support) material
vi. Solved examples
vii. Video Clips
5. Develop homework assignments, mid and final term examinations along with worked out solutions and grading criteria as per schedule provided by VU, all material to be submitted to VU in electronic form.
6. All research, acquisition and development of lecture/course support material will be responsibility of the professor.
7. An assistant to be provided by the professor for timing, quality assurance (QA) and insertions of slides/graphics/animation/clips in the video lecture at VU premises.
8. The professor will be responsible for reviewing the recorded lecture immediately after the recording session to identify any mistake either in content or in delivery and take necessary steps to remove the same in the next recording session. The same review should also be used to determine the sequencing/relevance of the support material. The material, along with the reviewed video, should be provided to VU within two days of the review.
B. Responsibilities of VU
1. Arrangement of recording shifts/sessions for the Professor in coordination with the productions team.
2. Converting electronic materials into animations, developing any needed graphics, and preparation of slides for TV insertions for broadcast and web based content.
3. Putting up the web version of the lecture/notes/slides etc., on the LMS.
4. Providing editing services for producing broadcast videos.
C. General Guidelines
1. The total recorded time of each lecture should be strictly between 48 – 50 minutes. Rehearsals should be used to perfect the timings.
2. The language to be used for the lectures should be extremely simple and understandable for a nation-wide audience.
3. Wherever possible, theory should be explained with the help of examples taken from everyday life. Again, keeping in view the nation-wide audience, the examples should be carefully chosen to be understandable for students coming from all backgrounds (big city, small town, rural areas etc.)
D. Guidelines for Preparing Proposal
1. Interested Professors/Academics/Practitioners should send a recent CV along with a proposed outline of the course to be developed by email to course_development@vu.edu.pk
2. VU will then contact the professors for all subsequent steps of the course development process, including auditioning, selection, and recording of the video lectures.

PUNJAB WORKERS WELFARE BOARD

PUNJAB WORKERS WELFARE BOARD
(F-A/1 Khyber Block, Allama Iqbal Town, Lahore)

Punjab Workers Welfare Board has been constituted under the provisions of Workers Welfare Fund Ordinance, 1971. The Workers Welfare Fund is the paymaster of the Boards constituted under the ordinance. The mandate of these Boards is to undertake the efficient disbursement and administration of the allocated money. The Boards under the constituent law are bound to follow the decision taken by the Workers Welfare Fund.


PUNJAB WORKERS WELFARE SCHOLARSHIP

Punjab Workers Welfare Board advertised the scholarship for the current session on December 18, 2007 in daily Nawa-i-waqt and daily Express wherein applicants are required to submit their applications by January 31, 2008 positively.

ELIGIBILITY REQUIREMENTS & REGULATIONS OF TALENT SCHOLARSHIP SCHEME:

Ø Industrial establishment and worker must fall under the respective definition as assigned by Workers Welfare Fund Ordinance, 1971.
Ø Workers concerned must have at least three years accumulative on his credit, however no pay limit is fixed.
Ø Workers concerned must be registered under EOBI / Social Security Scheme.
Ø Student concerned must have at least 45% marks in previously passed examination.
Ø All expenses vis-à-vis Admission Fee, Tuition fee, Registration Fee, and Security Fee are borne by Workers Welfare Board Punjab and an amount of Rs. 2,300/- P.M (for day Scholar) is paid as scholarship.
Ø Applications are received at the respective District Labour Offices and following scrutiny by the respective District Scrutiny Committee, cheques are issued by this Board in favour of claimants.

Students of VU are eligible to get scholarship. Applicants that fulfill the above-mentioned eligibility criteria are directed to have recourse to the office of Punjab Workers Welfare Board / respective District Officers Labour for further guidance.

SYEDA MUBARIK BEGUM SCHOLARSHIPS (2010-2011)

SYEDA MUBARIK BEGUM SCHOLARSHIPS (2010-2011)
Download Application FormSYEDA MUBARIK BEGUM SCHOLARSHIPS (2010-2011)FOR GIRLS: REGULAR STUDENTS (NOT “SELF – SUPPORTING“ CATEGORY)
Babar Ali Foundation awards Syeda Mubarik Begum Scholarships for the promotion of education, general uplift and welfare of needy women to supplement financial assistance for their studies.
Only female regular students (not self-supporting category) having consistent brilliant academic record, are encouraged to apply that are pursuing their education during July 2010- June 2011 from Public Sector Colleges and Universities of Pakistan as well as Azad Jammu & Kashmir.
ELIGIBILITY REQUIREMENTS & REGULATIONS FOR SCHOLARSHIP
Preference will be given to students pursuing their education in Commerce/Engineering/Agriculture/Medicine degrees and postgraduate studies in Science, Mathematics, Social Sciences, Languages, Medicine and Surgery. Moreover, students of Management Sciences (Business & Public Administration), Accounting, Teacher Training and Education are also considered for the award of scholarship.
The scholarships are granted mainly on the basis of consistently excellent academic record as indicated by marks (not less than 60%in annual examination or 80% in semester studies) obtained in previous examinations (taken as a whole not in parts) coupled with the established need of the applicant for financial assistance.
Assessment of student potential for contribution to national building activities, particularly for welfare and uplift of women, and for developing as a useful member of the society in general carries a considerable weight.
The scholarship is usually released in suitable installments and continuation of disbursements depends on receipt of satisfactory reports from the head of the scholarship holder’s institution on her academic progress, punctuality and conduct.
The Foundation reserves the right to withdraw its sanction of the scholarship or to amend its terms, amount and /or duration at any time without assigning any reason.
Before, taking a final decision, the Foundation may require the applicant (accompanied by her guardian, if so desired by her) to appear for an interview.
LAST DATE FOR RECEIPT OF SCHOLARHIP FORM IS SEPTEMBER 30, 2010
Only female applicants that fulfill the above-mentioned criteria are required to download & fill scholarship form in her own handwriting, complete the form in all respects, attach attested copies of all documents, certificates etc and mail to the undersigned on/before closing date.
Mr. Khalid Yacob,Honorary Secretary 308 – Upper Mall LAHORE- 54000, PAKISTAN. Tel: 042-111-637-853, Fax: 042-5789304

NBP Student Loan Scheme

NBP Student Loan Scheme
National Bank of Pakistan has invited applications from eligible students for grant of loans. Application form may be downloaded here and also at the designated branches of NBP. All the interested students are required to fill up the application form and submit to VU for verification on well before the last date which is February 27, 2010. The same form will be returned to the student after necessary attestations for onward submission to NBP designated branches by the students. Students are advised to read the instructions carefully given with the application form and attach all the documents as required by the bank. Virtual University has to certify only that he/she is a bonafied student at this university while the application will be processed by the bank to decide whether or not a loan is to be granted.
FACILITY OF INTEREST-FREE LOAN TO THE STUDENTS OF PUBLIC SECTORUNIVERSITIES AND INSTITUTES
The State Bank of Pakistan had launched an interest-free loan scheme for students of public sector Universities, Institutes Colleges in February, 2001. The objective of scheme was to provide financial assistance to the meritorious students who obtain at least 70 % marks in the last examination and are unable to pursue their studies within Pakistan due to financial constraints. Such loans are available to students for tuition fee, purchase of text books/ reference books and boarding expenses.
The National Bank of Pakistan has devised a procedure for inviting applications from students and its processing for the grant of loans. The same is available in their designated branches in all major cities along with prescribed application form.
In its earlier notification of the National Bank of Pakistan, some Universities established in the public sector were not listed in this scheme. The case was taken up by the HEC with the Sate Bank and followed up vigorously. It has now been decided by the State Bank to include all public sector Universities and Institutions recognized by HEC for the facility of interest-free loan for the students
The students of Virtual University of Pakistan that meet the above criteria are highly encouraged to apply to National Bank of Pakistan for interest-free loan. for more details please visit http://www.nbp.com.pk/studentloan/

Pakistan Bait-ul-Mal Stipends

Pakistan Bait-ul-Mal Stipends
Pakistan Bait-ul-Mal have intimated that education stipends are provided to poorest of the poor students having proven brilliant academic record and studying in government institutions. The stipends to the deserving students are being paid as per following details:
Level
Education Stipend(per month)
Boarding Charges (per month)
Primary
Rs. 100/-
-
High School
Rs. 200/-
Rs. 500/-
Post Matric studies upto University excluding M.Phil & PhD
Equivalent to prescribed fee of Govt. institution (maximum to Rs. 30,000/-) per annum including boarding charges @ Rs. 1000/- per month or actual (whichever is less) where applicable
Rs. 1000/-
The Pakistan Bait-ul-Mal (PBM) further intimated that :-
The education stipend and boarding charges for the students of primary and high school level are being paid for uniform, books, stationary and tuition fee, in favor of student’s parents while education stipend & boarding charges for post-Matric students are paid to the concerned institution.
All payments are being made through crossed cheque only in favor of the Head of the institution.
Students of M.Phil & PhD are not eligible for Individual Financial Assistance (IFA) education stipend
The students seeking education stipend out of PBM funds are required to submit application along with academic testimonials and bonafide certificates to the nearest Pakistan Bait-ul-Mal Provincial / Regional Office or Head office H-8/4, Islamabad. These cases are got investigated to ascertain their genuineness as per eligibility criteria.
The deserving students are paid education stipend once a year on inception of new academic session in case of annual and semester system as well.
Education stipend can be provided to two members of same family at a time (within the maximum limit of Rs. 30,000/-).
Budget under relevant head is not sufficient to accommodate each and every case; therefore, the cases are being processed by PBM on first come first serve basis.
For further details please contact Head / Regional Office of Pakistan Bait-ul-Mall(http://www.pbm.gov.pk/new/Contact_Us.html)

regulations for bs programs

regulations foR bs programs
II. REGULATIONS
6. SHORT TITLE, COMMENCEMENT AND APPLICATION:
(1). These Regulations may be called the Virtual University of Pakistan, Award of First Degree Regulations, 2003.
(2). These Regulations shall come into force with immediate effect.
(3). These Regulations shall apply to all students on the First Degree rolls of the University.

ADMISSION REQUIREMENTS
7. Minimum Academic Requirements
(i) A candidate seeking admission to the Bachelor of Science (BS) Program must have passed the examination shown in prospectus against each course or an examination recognized as equivalent thereto from a recognized institution securing g at least 45 % marks in intermediate or equivalent examination excluding marks awarded for NCC and Hafiz-e-Quran; provided further that the requirement of minimum marks may be amended from time to time by the competent body of the university.
(ii) AGE: A candidate for admission has no limit on age.
8. Numbers to be Admitted: The Executive Council of the university shall determine the last merit of student to be admitted from the admission applications received by the due date.

9. Authority of Admission: The admission may be made by Registrar of the university in consultation with the Executive Council of the University.

10. Deficiency: If the schedule of courses pursued by a candidate does not provide adequate background for the 1st degree course, which he/she intends to take up, he/she may be required to make up the deficiency by taking one or more additional course (s) of deficiency level as may be prescribed by the Executive Council of The University.

11. Time for Admission

(i) Candidate may be admitted at the beginning of the fall or spring semester until the Executive Council of the university decides to have admissions once a year. If a candidate fails to enroll then his/her admission shall stand cancelled.
(ii) The Executive Council of the university may refuse admission to a student without assigning any reason.
(Explanation: All those students who are awarded minor penalty twice on account of misconduct during the course of their undergraduate studies will be debarred for postgraduate admission for a period of two years. After the lapse of two years, after completion of their undergraduate courses, their case will be considered for admission to postgraduate course on the recommendations of the Students Affairs Committee. The students who receive major penalties during their undergraduate courses will not be granted admission to postgraduate courses. However, they will be eligible for admission to postgraduate courses after a lapse of three years, on the recommendations of the Students Affairs Committee).
12. Enrollment
(i) A candidate admitted to the course shall for so long as he/she has not completed all the requirements for the degree, enroll himself/herself for each semester subject to the maximum admissible limit of 12 semesters, failing which his/her admission shall stand cancelled. In case a student discontinued without permission, he/she may seek re-admission, in the same semester, with the approval of the Rector and on the recommendations of the Registrar; or the subsequent year with the permission of the Executive Council of the university, provided that he/she has not already exhausted the maximum residential requirements for the course, and provided further that after the first eight semesters, a candidate may enroll in the semester in which his/her failing/remaining subject (s) is/are offered in accordance with his/her “Scheme of Studies” subject to maximum admissible limit of 12 semesters. (Explanation of Statute 3(i) and Regulation 7(i): The four semesters provided in excess of the normal duration of the course have to be treated as exactly identical to the original eight in matters of regulating the course conduct. This provision does not place any bar on the students’ right to discontinue their studies during these extra four semesters. But what is inviolable in their case is their consecutive nature. One cannot skip a semester during this extra period and recover it beyond the 12th semester after it has ended. For instance, if a student discontinues his studies in the 11th semester, and the course in question is not offered in the next 12th semester, he cannot claim a right to enroll in the further next (13th) semester. He/she would have come to the end of his/her studies. The law provides him/her no further chance).
(ii) For semester enrolment, a candidate shall deposit university dues, according to bank challan provided, in the specified bank and its branch on the days specified on challan form or displayed on VU website for the purpose; provided that the Director Finance, in special circumstances and on payment of a late fee of Rs.250/- permits a student to deposit dues within seven days after the commencement of the semester. Thereafter, Rs. 500/- would be charged as late fee, provided further that the Rector may allow enrollment of a student after the expiry of seven days of the commencement of the semester under special circumstances of individual cases to be recorded in writing with double late fee, till such time as it does not conflict with the prescribed requirements of 75 % attendance in classes of each subject.

Provided further that the students seeking admission for the first time in any of the first degree courses must deposit dues to fulfill enrolment formalities within the date displayed on VU website by the Registrar, failing which their admission shall stand cancelled; provided further that the admission of such students may be allowed by the Rector till such time as it does not conflict with the prescribed requirements of 75 % attendance in classes of each subject.

(Explanation: Enrollment will only be considered completed when the candidate deposits university dues in the bank).


(iii) The admission of a candidate to the degree program shall be provisional in the first instance and shall be confirmed only when he/she has shown satisfactory progress in courses taken and rectified the course deficiencies, if any.
(iv) Discontinuation of studies: A candidate admitted to the degree program shall, enroll himself/herself for each semester provided that he/she may discontinue studies on account of sickness (duly certified by a registered medical doctor) or due to circumstances beyond his/her control, before appearing in the final examination, with the permission of the Registrar. Provided further that a candidate shall not ordinarily be allowed to discontinue studies for more than a total of four semesters.
(Explanation: Candidates so permitted to discontinue will be allowed to resume their studies by the Registrar vide his office notification).
(v) If a student fails to enroll in any semester without permission of the competent authority, he/she shall cease to be on the rolls of the University and in case he/she desires readmission, he/she shall have to apply for the same.
(Explanation: Executive Council of the University may readmit such a candidate or refuse admission if the reasons advanced are not convincing).
(vi) Candidates seeking re-admission in the university will have to pay re-admission fee as prescribed by Executive Council of the university.
(vii) Withdrawal from course (s): A student shall not be allowed to add a new course, or substitute a course for another after the expiry of ten days from the commencement of the semester, but he/she may be permitted by the Registrar (provided the course load for the semester does not fall below the prescribed minimum credit hours), to drop a course within 35 days. In case a student gives up a course without such permission or intimation, he/she shall be deemed to have failed in that course.
(viii) Minimum and Maximum Credit Hours: Each student shall register himself/herself in the 1st and 2nd semester for all the credit hours prescribed for these semesters. Subsequently he/she shall have to register for courses carrying not less than 17 and not more than 27 credit hours. These credits will include the credits earned in respect of deficiency courses. In his/her last semester a student may register himself/herself for courses carrying the remaining credit hours; provided that the maximum does not ordinarily exceed 30 credit hours. Provided further that the Registrar may allow a student to exceed the maximum limit of 30 credit hours by 1 to 4 credit hours by which he/she may be falling short of the total prescribed credit hours of a program, in special circumstances to be determined in each individual case. These extra credit hours shall be allowed only in the 7th and 8th semesters.
Clarification of Regulation 6 (viii)

(a) Regular Semesters
i. Each student shall register himself/herself in the first and second semesters for all the credit hours prescribed for these semesters.
ii. Subsequently, he/she shall have to register for courses carrying not less than 17 and not more than 27 credit hours out of the courses being offered during the enrolled semester.
iii.In the 7th and 8th semesters of the degree program a student may register for courses carrying up to 30 credit hours. This limit may be extended by the Registrar up to 34 credit hours if the student will complete the degree programme after enrolment of these extra credits.
(ix) No student will take any course unless he/she has cleared the pre-requisite for it as determined by the University.
(x) Credits earned for a course shall lapse on the expiry of six years for students from the end of the semester in which the course was qualified. Executive Council of the university may, however, revalidate the lapsed courses for special reasons to be recorded. (Explanation: Deficiency courses once qualified will not lapse and shall not be called into question again and need not to be revalidated).

13. Improvement of ‘D’ Grade:
(i) In any of the subsequent semesters a student may repeat once, those courses of the previous semester(s) in which he/she had secured the lowest grade i.e. “D” only. However, a student is not allowed to improve ‘D’ grade of a deficiency course qualified.
(ii) Any improved grade will substitute “F” and “D” grades of the previous Semester for calculating CGPA but “F” and “D” grades will form part of the transcript.
14. Examination and Weightage:
(i) Midterm and final examinations shall be conducted in a formal, proctored environment at examination centers designated for the purpose by the Controller of Examinations.
(ii) A mid-semester examination up to 90 minutes duration will be held after the 22nd lecture of a course, which will carry 25-35% of the total marks allocated for the course.
(iii) In addition, home assignments shall carry 10-20 % of the total marks allocated for the course.
(iv) Participation in class discussions through the Moderated Discussion Board of each subject shall carry up to 5 % of the total marks allocated.
(v) The final examination of up to three hours duration will be held at the end of the course, and shall carry 40-50% of the total marks allocated for the course.
(vi) The teacher shall finally determine the marks allocation of a course.

15. Uniformity/Standard in Tests: In each department the senior most teacher will examine all problems regarding uniformity/standards in tests, examinations, assignments etc. before the declaration of the results for the semester, or any appeal from the student or teacher of any related matter.

16. Declaration of Result:
(i) The result of all the examinations shall be completed by the teacher(s) and delivered within 15 days of the date of examination to the Controller of Examinations at the end of each semester. Thereafter, result shall be displayed on VU website.
(ii) Grade Point Average (GPA)/Cumulative Grade Point Average (CGPA):
(a) At the end of first semester, a student securing GPA less than 0.50 shall cease to be on rolls of the University. He/she may, however, again seek admission in any degree course, for which he/she is otherwise eligible at the next following admission time, on merit; provided that this concession will be admissible to him/her only once.
(b) At the end of the second semester, a student must obtain a minimum CGPA of 1.00. In case a student is able to obtain CGPA of 0.75 or more but less than 1.00, he/she will be promoted to the third semester on probation.
(c) At the end of the third semester, a student must obtain a minimum CGPA of 1.25. In case a student is able to obtain CGPA of 1.00 or more but less than 1.25, he/she will be promoted to the fourth semester on probation.
(d) For all subsequent semesters, a student must attain a minimum CGPA of 1.25 so that the student feels impelled to get the minimum CGPA required for qualifying for the award of the degree, failing which, he/she would cease to be on the rolls of the University and shall not be re-admitted in the same field of specialization.
(e) A student, who obtains CGPA of 1.75 but less than 2.25, upon the completion of entire approved course work, may be allowed to repeat once the courses of the previous semesters in which he/she had obtained the lowest grades, in order to improve the CGPA so as to obtain the minimum of 2.25, failing which he/she shall cease to be on the rolls.
(iii) GPA/CGPA will be calculated at the end of each semester in accordance with the relevant regulations.

17. Minimum Pass Marks: In order to complete a course successfully, a student is required to obtain at least 40 % marks provided he/she avails 20% minimum marks each in semester work (including marks obtained for midterm, assignments and class discussions) and final examination.

18. Grades, Grade Points and Grade Point Average:
(i) Grade and Grade Points: Grade of a course is awarded by teacher, recorded as evaluative and their symbols/letters used are listed below; whereas quality of achievement in a course is measured as Grade Point, that is, points per course hour assigned to a passing grade, indicating numerical value of the subject grade.
(ii) Grade Point Average (GPA): It is widely accepted as a measure of academic achievement. GPA is calculated by dividing the total number of grade points earned by the total number of letter graded credit hours attempted. Each grade has a point value as follows: A=4, B=3, C=2, D=1, and F=0. W for withdrawal and I for Incomplete may also be used. Maximum grade point average=4.00 Minimum cumulative grade point average for obtaining a degree =2.25
Grade
Value
Marks Obtained
Remarks
A
4
80-100 %
Excellent
B
3-3.99
65-79 %
Good
C
2-2.99
50-64 %
Satisfactory
D
1-1.99
40-49 %
Pass
F
0
Below 40 %
Fail
(Fractional marks to be rounded to the nearest whole number)
GPA of a semester is calculated as: multiply each grade point you receive by the number of credit hours for that course, add up the totals, and then divide by the total number of credit hours taken in that semester.
Cumulative Grade Point Average: Cumulative grade point average (CGPA) is the weighted mean value of all grade points earned by enrollment or by examination in courses at VU. (Explanation: GPA and CGPA includes the number of credit hours at VU for a letter grade even if a grade of “F” was earned). The cumulative grade point average (CGPA) will be calculated on the basis of the following formula:
CGPA = Sum(Credit Hrs for course X Grade Point obtained in the course) / Sum(credit Hrs)
with the sum being taken over all courses taken by the student with the specification that repeated courses shall be counted once only. (Explanation: If a student repeats a course, it will only be counted once towards the grade point and that will be calculated in the CGPA).

19. Attendance Requirements:
(i) A candidate with less than 75 % of the attendance of each course separately shall not be allowed to take the final examination of the course in a semester.
(ii) Virtual campuses would be responsible to provide via e-mail a statement of monthly attendance of students in each course to the Registrar. The name of the students who are absent from the classes continuously for a week without prior information shall be highlighted in the statement of attendance by the Virtual Campus in order to take stern action against him/her that may lead to being struck off the rolls by the University. Provided that the period of absence in the case of participation in co-curricular/sports activities, with the permission of Registrar may not be counted.
20. Conduct of Examination:
(i) The examinations of each course shall be held at times and examination centers to be notified by the Controller of Examinations.
(ii) Teachers responsible for the courses will set their individual examination papers and submit them to the senior most teacher of the subject who shall set the final single paper from the examination papers so submitted. The respective teachers will mark the exam data file/answer papers individually or collectively as may be determined by the competent authority of the university and prepare the award list(s) to hand over to Controller of Examinations through the senior most teacher. The Controller of Examinations will arrange supervision of the examinations and declaration of results.
21. Marks/Grade of Deficiency Course: The marks/grade required to pass a deficiency course shall be the same as in the regulations relating to the examination/course concerned.
22. Rechecking of exam data file/answer papers: Students may apply, within a period of 18 weeks from the date of declaration of the result, for re-checking of their exam data file/answer papers by depositing the prescribed fee per subject. For this purpose, the Controller of Examinations shall preserve the exam data file/scripts for one semester after the declaration of the result. In such cases, the Controller of Examinations shall authorize the re-checking of exam file/answer book to ensure that:–
(a) totals have been rightly brought forward;
(b) there is no mistake in the grand total on the exam file/cover of the answer book;
(c) no portion of any exam file/answer book has been left un-marked; and
(d) the exam file/answer book has not been changed.
Re-assessment of exam file/answer book shall not be permissible in any case.
The Controller of Examinations shall show the exam data file/answer paper of each examination to the concerned student and the student will confirm re-checking of the paper(s) positively within three days after receipt of the said file(s) failing which no further query about the paper(s) shall be entertained. After rechecking, if a mistake or a discrepancy in marking of the scripts comes to the notice of Controller of Examinations, he shall take action to get it rectified in a suitable manner after obtaining due authorization from the Rector and the result(s) of the affected student will be re-notified.

23. VU Education for Pakistanis Abroad:
Virtual University of Pakistan has extended its services to foreign countries in order to provide opportunity to Pakistanis and their children to seek admission into its degree programmes. Admission requirements, rules and regulations will remain the same for such students as mentioned above. However, Executive Council of the university will formulate the instructions for their admissions, university dues, and conduct of examinations etc. for incorporation into VU Prospectus.