CAF-1 Financial Accounting and Reporting – I Study Material

Syllabus GRID

Here is the grid of Syllabus of caf far1 study text.

GridWeightage
Preparation of Financial Statements35-45
Conceptual Framework and Interpretation of Financial Statements20-30
Accounting for Financial Transactions30-40
Total100
caf far1 study text

Course Outline

The course outline gives an overview of Syllabus of CAF Financial Accounting and Reporting 1. The detailed Syllabus of CAF Financial Accounting and Reporting 1 for Spring 2022 attempt is given below.

Preparation of Financial statement:

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  • Prepare the statement of changes in equity.
  • Prepare the statement of cash flows.
  • Analyze  the  impact  of  errors  on  the  financial  statements within a reporting period.
  • Apply the principles and concepts of selecting and applying accounting policies, accounting for changes in estimates and reflecting corrections of prior period errors.
  • Compare the usefulness of cash flow information with that of a statement of profit or loss or a statement of profit or loss and other comprehensive income.
  • Prepare financial statements for non-profit organizations.

Conceptual framework and interpretation of financial statements:

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  • Apply   and   discuss   the   requirements   of   the   conceptual framework for financial reporting.
  • Calculate  and  interpret  ratios  to  give  an  assessment  of  an entity’s  performance  and  financial  position  with  different benchmarks   and   discuss   window   dressing   of   financial statements to produce the desired effect.
  • Apply the principles and concepts concerning measurement, retrospective  adjustments,  presentation  and  disclosure  of basic and diluted earnings per share.

Accounting for financial transactions:

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  • Apply     the     principles    and     concepts     of     recognition, measurement   at   recognition   and   after   recognition   and disposal of property plant and equipment, the determination of their carrying amounts, and the depreciation charges and impairment losses to be recognized in relation to them.
  • Apply  the principles and concepts   of   accounting   and disclosure    of    Government    grants,    other Government assistance and loans granted by the government (subsidized and forgivable).
  • Apply the principles and  concepts of recognition, measurement and disclosure of borrowing costs.
  • Apply the principles  and concepts of carrying assets (other than  cash-generating  unit  and  goodwill)  at  no  more  than their recoverable amount and recognition of impairment loss and reversal thereof.
  • Apply the principles    and     concepts  0f     recognition, measurement, transfer, disposal  and     disclosure  of Investment Property

Study material provided by ICAP

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