Syllabus - Modified Scheme of Study

Managerial Level-2


(M4)FINANCIAL ACCOUNTING

PART - A WEIGHTAGE 5%
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 WEIGHTAGE 85%
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
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• IAS 24 Related Part Disclosures
• IFRS 5: Non-Current Assets held for Sale and discontinued operations
• IFRS 8 Operating Segments
• IFRS 15 Revenue from Contracts with Customers
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
• IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
• IAS 23 Borrowing Costs
• IAS 40 Investment Property
7. Intangible non-current assets
• IAS 38 Intangible Assets
• Research & Development Cost
• IFRS 3 Business Combinations
8. Impairment of Assets
• IAS 36 Impairment of Assets
• Cash Generating Units
• Goodwill and the Impairment of Assets
• Accounting treatment of an Impairment Loss
9. Leases
• Characteristics of Leases
• IFRS 16 Lease
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
• Definitions
• Measurement of Inventories
• Inventory Valuation Method
• Net Realizable Value
• Recognition as an Expense
• Disclosures
12. Share based Transactions and Financial instruments
• Definitions
• Types of Transaction
• Equity-Settled Share-Based Payment Transactions Disclosures.
• Financial Assets and Financial Liabilities.
• Equity and Liabilities
PART - C WEIGHTAGE 10%
Accounting for Taxation
13. IAS 12 Income taxes
• Current Tax
• Deferred Tax
• Taxation in Company Accounts
• Presentation and Disclosure of Taxation
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