SYLLABI – PART C (Professional Programme I) ADVANCED ACCOUNTING & FINANCIAL REPORTING
NB. Students will not be allowed to register for any Part C subjects without proof of undergoing at least six months of industrial attachment in a relevant work environment.
THIS IS A FOUR HOUR PAPER
The aim of the module is to equip the candidate with the key competencies necessary to run a fully fledged Financial Accounting function, including reporting both for Internal and External purposes.
- Learning Outcomes
At the conclusion of this module the candidate will be able to:
- Understand the theory and practice of Financial Accounting and Reporting.
- Understand the International Accounting Standards governing the discipline of Accounting.
- Prepare Financial Accounts at all levels including the use of inflation accounting.
- Prepare Financial Statements for Internal use and external use.
- Make the necessary interpretations, evaluation of Accounts and be able to account for leases, Reconstructions, Mergers and Amalgamations.
- Prepare group accounts and financial statements of all forms.
Evidence of assessed pre-requisite knowledge and understanding in the following disciplines must be demonstrated through the Institute’s examinations, or those of equivalent qualifications which have been approved as meeting the Institute’s requirements.
- All of Part A
- Financial Accounting
- Learning Content
General revision of earlier courses in accounting.
- Accounting Framework
Accounting theory, measurement of profit, standard setting (including national and international accounting standards).
- International Accounting Standards
Coverage of all the International Accounting Standards and the framework in which they are set or reviewed.
- Financial Statements
Preparation of advanced financial statements, group accounts, accounting for associated companies, taxation and deferred taxation in financial statements. Group cash flows.
- Inflation Accounting (IAS 29)
Changing prices. Accounting under conditions of changing prices; Hyperinflation.
- Specialised Accounting
Special aspects relating to limited companies including acquisitions, mergers, reconstructions and amalgamations. Valuation of business and other securities.
- Interpretation of Accounts
Analysis and interpretation of financial statements, use and limitations of accounting ratios.
- Informational Content of Accounts
Financial statements as a source of information for management, investors, creditors and other interested parties.
Instalment and other credit agreement sales, allocation of profit, deferred taxation.
- Foreign Exchange
Treatment of Foreign exchange transactions – including branches and subsidiary companies.
- Current Developments
Modern developments in accounting and reporting.
- Knowledge of relevant International Accounting Standards is a pre-requisite.
- Knowledge of the Income Tax Act (as amended) and the Companies act (as amended) is essential.
- Candidates may make use of hand-held, self-powered, silent, non-programmable calculators but intermediate working steps must be shown.
|AUTHOR||TITLE AND EDITION||PUBLISHER||CITY|
|Lewis & Pendrill||Advanced Financial Accounting||Pitman||London|
|Cilliers, Roussouw & Faul (2010)||Group Statements Vol 1 13thEdition
Group Statements Vol 2 13thEdition
|International Accounting Standards Board (IASB) (2011)||International Financial Reporting Standards as issued at 1 January 2011||IASB||London|
|Joubert & Viljoen||Students Guide to Valuations 3rd Edition||J. L. Van Schaik||Pretoria|
|Cilliers & Roussouw||Company Financial Statements||Butterworth||Durban|
|Cilliers & Roussouw||Group Statements – Selected Questions & Computer Application||Butterworth||Durban|
|Lane||Principles of Financial Statements||Juta & Co.||Capetown|
|Companies Act: Chapter 24:09||Govt. Printers|
|Everingaham G||Corporate Reporting||Juta & Co.||Capetown|
|Opperman HRD (2001)||Accounting Standards 14thEdition||Juta & Co||Capetown|
|Voster Q (2010)||Descreptive Accounting 15thEdition||Lexis News||Durban|
October 23, 2017
October 23, 2017
October 23, 2017