Syllabus of S1 Advanced Financial Accounting an Corporate Reporting

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Syllabus of S2 Advanced Financial Accounting and Corporate Reporting

Syllabus GRID:

Here is the grid for Syllabus of S1 Advanced Financial Accounting & Corporate Reporting.

GRIDWEIGHTAGE
MATTERS RELATED TO RECOGNITION AND MEASUREMENT
1.     Substance over form
2.     Financial instruments (IAS 32, IFRS 7 & IFRS 9)
3.     Employee benefits (IAS 19)
4.     Share-based payments (IFRS 2)
5.     Asset valuation and Changing prices
20%
GROUP FINANCIAL STATEMENTS
6.     Introduction to group accounting
7.     Consolidated statement of financial position
8.     Consolidated statement of comprehensive income
9.     IAS 27,IFRS 10, IFRS 3 (Revised), IFRS 13
10.  Effect of Non-controlling interests
11.  Acquisition of a Subsidiary during its accounting period
12.  Consolidated Statement of changes in Equity
13.  Associates and Joint ventures
30%
COMPLEX GROUP TOPICS
14.  Changes in group structures
15.  Complex group structures
16.  Foreign currency
17.  Group statements of cash flows
25%
PERFORMANCE REPORTING
18.  Ratios and trend analysis
19.  Earnings per share ( IAS 33)
20.  Segment reporting  (IFRS 8)
15%
EXTERNAL REPORTING
21.   Advancement in Financial Reporting
22.  Advancement in Non-Financial Reporting
10%
TOTAL100%

Detailed Syllabus Contents:

The detailed Syllabus of S1 Advanced Financial Accounting & Corporate Reporting for upcoming attempt is given below.

PART – A

MATTERS RELATED TO RECOGNITION AND MEASUREMENT

1.  Substance over form

  • Reporting the Substance of Transactions
  • Examples Where Substance and Form may Differ

2.  Financial instruments (IAS 32, IFRS 7 &IFRS 9)

  • Definitions
  • Classification of Financial Instruments Recognition and Measurement of Financial Assets
  • Recognition and Measurement of financial Liabilities
  • De-recognition of Financial Instruments
  • Derivatives
  • Hedge Accounting
  • Disclosure of Financial Instruments
  • Disclosures
  • Hybrid Instrument

3.  Employee benefits (IAS 19)

  • Types of Employee Benefit
  • Post-Employment Benefit Plans
  • Accounting  for  Post-Employment  Benefit Plans
  • The Asset Ceiling Disclosures
  • Other Employee Benefits

4.  Share-based payments (IFRS 2)

  • Types of Transaction
  • Equity-Settled   Share-Based   Payment Transactions
  • Cash-Settled  Share-based  Payment Transactions
  • Modifications, Cancellations and Settlements
  • Recent Developments
  • Disclosures

5.  Asset valuation and Changing prices

  • Definitions
  • Impairment of Financial Assets
  • Accounting Treatment

PART – B

GROUP FINANCIAL STATEMENTS

6.  Introduction to group accounting

  • Concept of Group Accounts
  • Definitions
  • Exemption  from  Preparation  of  Group Financial Statements
  • Non-Coterminous Year Ends

7.  Consolidated statement of financial position

  • Principles of the Consolidated Statement of Financial Position
  • Pre and Post-Acquisition Profits
  • Non-Controlling Interest
  • Fair Values
  • Fair  Value  of  Net  Assets  Acquired  Intra- Group Trading
  • Unrealized Profit
  • Mid-Year Acquisitions

8.  Consolidated statement of comprehensive income

  • Principles of the Consolidated Statement of Comprehensive Income
  • Format of Consolidated Statement of Comprehensive Income
  • Intra-Company Trading
  • Other Consolidated Income Statement Adjustments Mid year Acquisitions
  • Preparation  of  Consolidated  Statement  of Comprehensive Income

9.  IAS 27, IFRS 10, IFRS 3 (Revised), IFRS 13

  • Definitions
  • Separate Financial Statements
  • Preparation of Consolidated Financial Statements Treatment of Goodwill
  • The basis of a Fair Value Measurement
  • Fair Value Hierarchy
  • Specific Application Principles Disclosures

10. Effect of Non-controlling interests

  • Effects of Non-Controlling Interest on:
  • On Statement of financial position
  • Intra-group trading
  • Intra-group sales of non-current assets
  • Fair Values

11. Acquisition of a Subsidiary during its accounting period

  • Step Acquisitions
  • Disposal Scenarios
  • Investing Entity’s Accounts
  • Group Accounts
  • Group Accounts – Entire Disposal
  • Group  Accounts  Disposal  –  Subsidiary  to Associate
  • Disposal where Control is not Lost (Increase in  NCI)  Subsidiaries  Acquired  Exclusively with a View to Subsequent Disposals
  • Further  Purchase  by  Group  after  Control Obtained (Decrease in NCI)

12. Consolidated Statement of changes in Equity

  • Format of Consolidated Statement of Changes in Equity
  • Preparation  of  Consolidated  Statement  of Changes in Equity

13. Associates and Joint ventures

  • IAS 28 Investments in Associates and Joint Ventures
  • IFRS 11 Joint Arrangements
  • IFRS  12  Disclosure  of  Interests  in  Other Entities

PART – C

COMPLEX GROUP TOPICS

14. Changes in group structures

  • Business Combination achieved in Stages
  • Changes in direct ownership

15. Complex group structures

  • Complex group
  • Consolidating sub-subsidiaries
  • Direct holding in sub-subsidiaries
  • Indirect associates

16. Foreign currency

  • Foreign Currency translation
  • IAS 21: Individual company stage
  • IAS  21:  Consolidated  financial  statements stage

17. Group statements of cash flows

  • IAS  7  Statement  of  Cash  Flows  of  Single Company
  • Consolidated Statements of Cash Flows
  • Foreign  Exchange  and  Statement  of  Cash Flow

18. Ratios and trend analysis

  • Interpreting Financial Information
  • Profitability Ratios
  • Return on Capital Employed
  • Net Asset Turnover
  • liquidity and Working Capital Ratios
  • Long-Term Financial Stability
  • Investor Ratios
  • limitations  of  Financial  Statements  and Ratio Analysis

19. Earnings per share ( IAS 33)

  • The Scope of IAS 33
  • Diluted Earnings per Share (DEPSJ
  • The Importance of EPS

20. Segment reporting ( IFRS 8)

  • Defining Reportable Segments Disclosing
  • Reportable Segments

PART – D

PERFORMANCE REPORTING

  • Problem Areas in Segmental Reporting

PART – E

EXTERNAL REPORTING

21. Advancement in Financial Reporting

  • International harmonization
  • Accounting around the World i.e.  current issues in financial reporting
  • Financial Reporting in USA
  • IFRS vs US GAAP

22. Advancement in Non-Financial Reporting

  • Management Commentary
  • Environmental Reporting
  • Sustainability
  • Social and Ethical Environment
  • Social Responsibility
  • Human Resource Accounting

Syllabus of S1 Advanced Financial Accounting and Corporate Reporting

Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting Syllabus of S1 Advanced Financial Accounting and Corporate Reporting

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