FINANCIAL REPORTING

·         IASB Framework and Accounting Standards Reporting- The conceptual and regulatory framework for financial reporting: The need for a conceptual framework and the characteristics of useful information, Recognition and measurement, Regulatory framework, The concepts and principles of groups and consolidated financial statements

·         Accounting for transactions in financial statements as per IFRS- Prepare an entity’s statement of financial position and statement of profit or loss and other comprehensive income in accordance with the structure prescribed within IFRS and content drawing on accounting treatments as identified in Tangible non-current assets, Intangible assets, Impairment of assets, Inventory and biological assets

·         Accounting for transactions in financial statements as per IFRS-Prepare an entity’s statement of financial position and statement of profit or loss and other comprehensive income in accordance with the structure prescribed within IFRS and content drawing on accounting treatments as identified in International Financial Reporting Standards- Financial instruments, Leasing, Provisions, Contingencies and events after the reporting period, Taxation

·         International Financial Reporting Standards- Prepare an entity’s statement of financial position and statement of profit or loss and other comprehensive income in accordance with the structure prescribed within IFRS and content drawing on accounting treatments as identified in Reporting financial performance, Revenue from contract with customers, Government grants, Foreign currency transactions, Investment Property.

·         Preparation of Financial Statements- Preparation of statement of changes in equity.

·         Preparation of Consolidated Financial Statements- Preparation of consolidated financial statements including an associate: Prepare a consolidated statement of financial position for a simple group (parent and one subsidiary and associate) dealing with pre and post-acquisition profits, non-controlling interests and consolidated goodwill. Prepare a consolidated statement of profit or loss and consolidated statement of profit or loss and other comprehensive income for a simple group dealing with an acquisition in the period and non-controlling interest; Accounting for other reserves including share premium and revaluation reserves. Accounting for intra-group trading; Accounting for the fair value adjustments (including their effect on consolidated goodwill) to: depreciating and non-depreciating noncurrent Assets, inventory, monetary liabilities, assets and liabilities not included in the subsidiary’s own statement of financial position, including contingent assets and liabilities; Account for goodwill impairment; Description and application of accounting treatment of consolidated goodwill; Explain and illustrate the effect of the disposal of a parent’s investment in a subsidiary in the parent’s individual financial statements and/or those of the group (restricted to disposals of the parent’s entire investment in the subsidiary).

·         Analyzing and interpreting the financial statements of single entities- Cash flow statements and interpretation of financial statements- Limitations of financial statements Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs. Limitations of interpretation techniques Specialized, not-for-profit, and public sector entities

·         Cash flow Statement: Prepare a statement of cash flows for a single entity in accordance with relevant accounting standards using direct and indirect method. Analysis a cash flow statement.