ACCA Qualification

Overview

We offer a range of ACCA courses on International Financial Reporting, including the Certificate in International Financial Reporting. This financial reporting course offers a broad introduction to the field of International Financial Reporting and International Financial Reporting Standards (IFRS). It traces the history of the International Accounting Standards Board (IASB) from its early roots through to recent changes and updates and future developments.The qualification is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down specific standards topic-by-topic. There are case studies, which are based on real-life examples, and many exercises, multiple-choice questions and sample answers for you to test your knowledge as you progress through the course.

The Syllabus

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
• IAS 17, 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 IFRS9. Proposals for change

Overview

The certificate offers an introduction to the International Standards on Auditing (ISAs), covering the principles and application of ISAs through online tuition and objective assessment.This ACCA qualification is structured in an accessible and user-friendly way that underlines key information and provides useful summaries. It examines and breaks down specific standards topic-by-topic. There are case studies which are based on real-life examples, many exercises, multiple-choice questions and sample answers for you to test your knowledge with as you progress through the course.The course is also updated every year to make sure it stays relevant, and includes a topic by topic explanation of the specific ISAs.

The Syllabus

1. Auditing Standards

• The International Federation of Accountants (IFAC)
• The International Auditing and Assurance Standards Board (IAASB)
• The framework of International Standards on Auditing (ISAs)
• ISAs – what they represent and how they are set.

2. ISA 200, Overall Objectives

• Overall objectives of an audit of financial statements
• General principles governing auditors and their work
• The nature and scope of an audit.

3. ISA 230, Audit Documentation

• Preparing and retaining documentation
• Assembly of the final audit file
• Confidentiality.

4. ISA 240, Fraud in an audit of financial statements5. Planning

• ISA 300, Planning an audit of financial statements
• ISA 315, Understanding the entity and its environment
• ISAs 320 and 450, Audit materiality and evaluation of misstatements.

6. Internal Control and Risk Assessment

• ISA 265, Communicating deficiencies in internal control to those charged with governance and management
• ISA 315, Assessing the risks of material misstatements
• ISA 402, Audit considerations relating to an entity using a service organisation.

7. ISA 500, Audit Evidence8. ISA 501 Audit Evidence – specific considerations for selected items9. ISA 505 External confirmations10. Analytical Procedures, Audit Sampling and Written Representations

• ISA 520, Analytical procedures
• ISA 530, Audit Sampling
• ISA 580, Written representations.

11. Internal Auditing

• ISA 610, Using the work of Internal Auditors

12. Reporting

• ISA 700, 701, 705,706, Auditor’s report on financial statements
• ISA 570 Going concern.

13. Glossary

• Mock assessment.