Syllabus - Modified Scheme of Study

Strategic Level-1


[S1] ADVANCED FINANCIAL ACCOUNTING & CORPORATE REPORTING

PART - A WEIGHTAGE 20%
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
• Derecognition of Financial Instruments
• Derivatives
• Hedge Accounting
• Disclosure of Financial Instruments
• Disclosures
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
• Disclosures
• Modifications, Cancellations and Settlements
• Recent Developments
5. Asset valuation and Changing prices
• Definitions
• Impairment of Financial Assets
• Accounting Treatment
PART - B WEIGHTAGE 30%
Group Financial Statement
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
• Unrealised Profit
• Mid-Year Acquisitions
8. Consolidated statement of comprehensive income
• Principles of the Consolidated Statement of Comprehensive Income
• Intra-Company Trading
• Other Consolidated Income Statement Adjustments Midyear Acquisitions
• The 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 comprehensive income
• Format of Consolidated Statement of Comprehensive Income
• Preparation of Consolidated Statement of Comprehensive Income
13. Consolidated Statement of changes in Equity
• Format of Consolidated Statement of Changes in Equity
• Preparation of Consolidated Statement of Changes in Equity
14. 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 WEIGHTAGE 25%
Complex Group Topics
15. Changes in group structures
• Disposals
• Business Combination achieved in Stages
• Changes in direct ownership
16. Complex group structures
• Complex group
• Consolidating sub-subsidiaries
• Direct holding in sub-subsidiaries
• Indirect associates
17. Foreign currency
• Foreign Currency translation
• IAS 21: Individual company stage
• IAS 21: Consolidated financial statements stage
18. 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
PART - D WEIGHTAGE 15%
Performance Reporting
19. 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
20. Earnings per share IAS 33
• The Scope of IAS 33
• Diluted Earnings per Share (DEPSJ)
• The Importance of EPS
21. Segment reporting IFRS 8
• Defining Reportable Segments Disclosing
• Reportable Segments
• Problem Areas in Segmental Reporting
PART - E WEIGHTAGE 10%
External Reporting
22. Advancement in Financial Reporting
• International harmonization
• Accounting around the World
• Financial Reporting in USA
•IFRS vs US GAAP
23. Advancement in Non-Financial Reporting
• Management Commentary
• Environmental Reporting
• Sustainability
• Social and Ethical Environment
• Social Responsibility
• Human Resource Accounting
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