Squats are the mother of all workouts. Those should always be a part of your workout routine.
In terms of buring body fat, there are a lot more factors that go into burning fat fast than just exercise. After a month of lifting hard, switch to circuit training with light weights...holy cow will that burn fat.
But also, the food you eat is huge! Obviously, eat the 5-6 small meals a day. Also, salmon is possibly the best fat burner out there. It literally will rip through the fat. However, it does taste pretty nasty....