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|REGULATORY AND CONCEPTUAL FRAMEWORK|
1 The regulatory framework
2 The Conceptual Framework
|SINGLE COMPANY FINANCIAL ACCOUNTS|
3 IAS 1 (Revised) Presentation of Financial statements
4 Reporting Financial Performance
5 Other Reporting
6 Accounting for non-current assets
7 Intangible non-current assets
8 Impairment of Assets
10 Statements of Cash Flows
11 IAS 2 Inventories and Short term WIP
12 Share Based Transactions and Financial instruments
|ACCOUNTING FOR TAXATION|
13 IAS 12: Income taxes
Detailed Syllabus Contents:
The detailed Syllabus of Financial Accounting & Corporate Reporting for upcoming attempt is given below.
PART – A
REGULATORY AND CONCEPTUAL FRAMEWORK
1. The regulatory framework
- The International Accounting Standard Board (IASB)
- Setting of International Financial Reporting Standards
2. The Conceptual Framework
- Conceptual Framework and GAAP
- The IASB’s Conceptual Framework
- Qualitative Characteristics of Financial Statements
- The elements of Financial Statements
PART – B
SINGLE COMPANY FINANCIAL ACCOUNTS
3. IAS 1 (Revised) Presentation of Financial statements
- General Features
- Structure and Detail Contents
- Preparation of Financial Statements
4. Reporting Financial Performance
- IFRS 5: Non-Current Assets held for Sale and discontinued operations.
o Scope and definitions:
o Conditions of IFRs 5:
o Transfer from IAS 16 to IFRS 5
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
- IFRS 8 Operating Segments.
- IFRS 15 Revenue from Contracts with Customers.
o Five steps of Revenue Recognition.
o Construction contacts.
- IAS 24 Related Part Disclosures
5. Other Reporting
- IAS 10 Events after the Reporting Period
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets
6. Accounting for non-current assets
- IAS 16 Property, Plant and Equipment
o Scope and definitions
o Cost of NCA:
o Cost model.
o Disposal of NCA
o Exchange of NCA.
o Revaluation model.
o Different movements in Revaluation.
o Excess depreciation.
o Disposal of Revalued Assets.
- IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.
o Scope and definitions :
o Government grants and assistance :
o Revenue grant:
o Treated as income
o Deducted from respective expense
o Capital grants:
o Treated as deferred income and deducted from Non-current assets IAS 23 Borrowing Costs
IAS 40 Investment Properties.
o Scope and definitions :
o Investment properties.
o Transfer from IAS 16 to IAS 40
7. Intangible non-current assets
- IAS 38 Intangible Assets.
o Internally and externally generated intangibles.
o Infinite and indefinite intangible
Research & Development Cost
IFRS 3 Business Combinations
o Describe the concept of a group as a single economic unit
o Define subsidiary, parent and control by identifying simple examples
o Describe situations when control is presumed to exist
o Identify and describe the circumstances in which an entity is required to prepare and present consolidated financial statements
o Prepare and present simple consolidated statements of financial position and simple consolidated statement of comprehensive income involving a single subsidiary
8. Impairment of Assets
- IAS 36 Impairment of Assets
- Cash Generating Units
- Goodwill and the Impairment of Assets
- Accounting treatment of an Impairment Loss.
- Reversal of impairment losses.
- Characteristics of Leases
- IFRS 16 Lease
- Operating leases
- Finance leases
10. Statements of Cash Flows
- IAS 7 Statement of Cash Flow
- Preparing a Statement of Cash Flow
- Interpretation of Statements of Cash Flows
11. IAS 2 Inventories
- Measurement of Inventories
- Inventory Valuation Method
- Net Realizable Value
- Recognition as an Expense
12. Share based Transactions and Financial instruments
- Types of Transaction
- Equity-Settled Share-Based Payment Transactions Disclosures.
- Financial Assets and Financial Liabilities:
o Scope and definitions of financial assets and financial liabilities:
o Financial liabilities (Short term, Long term, Convertible loan notes)
o Indicate for the following categories of financial instruments how they should be measured and how any gains and losses from subsequent measurement should be treated in the financial statements:
i. Amortized cost
ii. Fair value through other comprehensive income (including where an irrevocable election has been made for equity instruments that are not held for trading)
iii. Fair value through profit or loss
PART – C
ACCOUNTING FOR TAXATION
IAS 12 Income taxes
- Current Tax
- Deferred Tax
- Taxation in Company Accounts
- Presentation and Disclosure of Taxation
syllabus of M4 Financial Accounting and Corporate Reporting syllabus of M4 Financial Accounting and Corporate Reporting syllabus of M4 Financial Accounting and Corporate Reporting syllabus of M4 Financial Accounting and Corporate Reporting syllabus of M4 Financial Accounting and Corporate Reporting syllabus of M4 Financial Accounting and Corporate Reporting