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2017 Exam IFRS Subjects Complete Details

2017 Exam IFRS Subjects Complete Details 

IFRS Subjects Complete Details  :  The AICPA’s IFRS Certificate Program will help build the knowledge you need in International Financial Reporting Standards for success in today’s global business world. Like you, we believe those who understand and can apply IFRS will enjoy expanded career opportunities as the momentum to either permit or require IFRS spreads around the world.

Developed with input from subject matter experts from across the globe, the program is designed to provide accounting professionals with the training, knowledge and practical guidance needed to use IFRS.

2017 Exam IFRS Subjects Complete Details 

IFRS Subjects Complete Details  : The subjects  for the Final Examination are specified here under. It may be noted that for the purposes of coverage in the whole syllabus, relevant developments including issue of Accounting Standards, Statements on Standard Auditing Practices, Guidance Notes by the Institute, amendments in the legislation, any statutory modification or re-enactment of the legislation covered therein, in force at least six months before the Examination would be taken into account.

IFRS Subjects  And It’s  Objectives By ICAI

1) Subject ( Paper 1) : Advanced Accounting

(One paper – Three hours – 100 marks)

Level of Knowledge :Expert knowledge.

Objectives :(a) To gain comprehensive understanding of all aspects relating to external financial reporting practices.

(b) To gain expert knowledge of the professional standards, principles and procedures of accounting, and their application to different practical situations.

2) Subject ( Paper 2) : Management Accounting and Financial Analysis

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert knowledge.

Objectives :(a) To gain expert knowledge in respect of management accounting, financial planning and financial services sector in terms of products, procedures, markets and regulatory framework.

(b) To understand the issues involved in and the features of financial management in the global context.

3) Subject ( Paper 3) : Advanced Auditing

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert knowledge.

Objective : To gain expert knowledge of current auditing practices and procedures and apply them in auditing engagements.

4) Subject ( Paper 4) : Corporate Laws and Secretarial Practice

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert knowledge.

Objective : To gain expert knowledge of corporate and other allied laws and secretarial practices.

5) Subject ( Paper 5) :  Cost Management

Level of Knowledge: Expert Knowledge

Objectives…

To gain expert knowledge of..

  1. use of costing data for decision-making and control, and
  2. emerging modern cost management concepts.

6) Subject ( Paper 6) : Management Information and Control Systems – One paper – Three hours – 100 marks)

Level of Knowledge : Expert Knowledge

Objective : To develop the ability of the students in understanding the concepts involved in managerial information and control systems and systems analysis and in applying the same to business situations.

7) Subject ( Paper 7) : Direct Taxes

Level of Knowledge: Expert Knowledge

Objectives…

  1. To gain expert knowledge of the provisions of direct tax laws.
  2. To acquire the ability to apply the knowledge of the provisions of laws to various situations in actual practice.

IFRS Subjects and its Syllabus Complete Details By  ACCA 

1. The nature and operations of the IASB

  • Structure of the IFRSF/IASB
  • Extant standards of the IASB
  • The framework.

2. The status and use of IFRSs around the world

  • The use of IFRS around the world
  • The IASB roadmap
  • The annual IASB bound volume and its use.

3. Presentation and profit

  • IAS 1, Presentation of financial statements
  • IFRS 15, Revenue from contracts with customers
  • IAS 8, Accounting policies, changes in accounting estimates and errors.

4. Accounting for assets and liabilities – part 1

  • IAS 16, Property, plant and equipment
  • IAS 38, Intangible assets
  • IAS 40, Investment Property
  • IAS 36, Impairment of assets
  • IAS 23, Borrowing costs
  • IAS 20, Accounting for government grants and disclosure of government assistance
  • IAS 2, Inventories
  • IFRS 16, Leases
  • IFRS 5, Non-current assets held for sale and discontinued operations

5. Accounting for assets and liabilities – part 2

  • IFRS 13, Fair Value Measurement
  • IFRS 32, Financial instruments – presentation
  • IFRS 9, Financial instruments
  • IFRS 7, Financial instruments: disclosures
  • IFRS 2, Share-based payment
  • IAS 37, Provisions, contingent liabilities and contingent assets
  • IAS 10, Events after the reporting period
  • IAS 19, Employee benefits
  • IAS 12, Income taxes
  • IAS 41, Agriculture
  • IFRS 6, Exploration for and evaluation of mineral resources.

6. Group accounting

  • IFRS 10, Consolidated Financial Statements
  • IAS 27 (revised 2011), Separate financial statements
  • IFRS 3, Business Combinations
  • IAS 28 (revised 2011), Investments in associates and joint ventures
  • IFRS 11, Joint arrangements
  • IFRS 12, Disclosure of interests in other entities
  • IAS 21, The effects of changes in foreign exchange rates
  • IAS 29, Financial reporting in hyperinflationary economies.

7. Disclosure standards

  • IAS 7, Statement of cash flows
  • IAS 24, Related party disclosures
  • IAS 33, Earnings per share
  • IAS 34, Interim financial reporting
  • IFRS 4, Insurance contracts
  • IFRS 1, First time adoption of IFRS
  • IFRS 8, Operating segments.

8. Principal differences between UK/US GAAP and IFRS

9. Proposals for change

IFRS Diploma Subjects and its Syllabus Complete Details By IASB

IFRS 1 FIRST- TIME ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS.

Candidates should be able to: ·

Discuss the key accounting implications for an entity in adopting IFRS for the first time.

IFRS 2  SHARE-BASED PAYMENTS

Candidates should be able to: ·

Discuss and apply the general accounting requirements for equity settled and cash settled share based payments.

IFRS 3  BUSINESS COMBINATIONS

Candidates should be able to:

Describe the nature of business combinations.

  • Explain the meaning of the concepts of ‘goodwill’ and ‘non-controlling interests’.
  • Explain and apply the standard’s requirements concerning the recognition and measurement of assets acquired, liabilities assumed, non-controlling interests and consideration transferred.
  •  Explain and apply the acquisition method of accounting for business combinations.

IFRS 5  NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS

Candidates should be able to:

  • Explain the nature of non-current assets held for sale and discontinued operations.
  • Explain and apply the accounting treatment required for non-current assets held for sale and discontinued operations.

IFRS 6  FINANCIAL INSTRUMENTS: DISCLOSURES; IFRS 9 FINANCIAL INSTRUMENTS & IAS 32 PRESENTATION

Candidates should be able to:

  • Define financial instruments, financial assets, financial liabilities, equity and compound instruments in accordance with IAS32.
  • Explain and apply the general recognition and measurement rules for financial instruments in accordance with IFRS9.
  •  Explain and apply the methods of accounting for financial assets, financial liabilities, equity and compound instruments in accordance with IFRS9. (Note impairments and hedge accounting are not abominable).
  •  Discuss the disclosure requirements of IFRS7.

IFRS 8 OPERATING SEGMENTS

Candidates should be able to:

  •  Define operating segments.
  • Discuss and apply the criteria for determining whether a segment is re portable.
  • Discuss the basic disclosures required for re portable segments.

2017 Exam IFRS Subjects Complete Details 

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