Aim
To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.
Main capabilities
On successful completion of this paper candidates should be able to:
On successful completion of this paper candidates should be able to:
A Discuss and apply a conceptual and regulatory frameworks for financial reporting
B Account for transactions in accordance with International accounting standards
C Analyse and interpret financial statements.
D Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards
| 1 |
The need for a conceptual framework and the characteristics of useful information
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| 2 |
Recognition and measurement
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| 3 |
Regulatory framework
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| 4 |
The concepts and principles of groups and consolidated financial statements
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| 5 |
Tangible non-current assets
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| 6 |
Intangible non-current assets
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| 7 |
Impairment of assets
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| 8 |
Inventory and biological assets
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| 9 |
Financial instruments
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| 10 |
Leasing
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| 11 |
Provisions and events after the reporting period
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| 12 |
Taxation
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| 13 |
Reporting financial performance
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| 14 |
Revenue
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| 15 |
Government grants
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| 16 |
Foreign currency transactions
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| 17 |
Limitations of financial statements
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| 18 |
Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs
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| 19 |
Limitations of interpretation techniques
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| 20 |
Specialised, not-for-profit and public sector entities
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| 21 |
Preparation of single entity financial statements
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| 22 |
Preparation of consolidated financial statements including an associate
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