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Financial Reporting & Disclosure - FRD
Exam Format
3-hour open-book written examination (100%)
Module Content
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Topic 1
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Overview of financial statements
- Framework for the preparation and presentation of financial statements
- Financial statements
- Other disclosures issues in the financial statements
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Topic 2
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Consolidated financial statements
- Basic issues in the preparation of consolidated balance sheet and consolidated income statement
- Further issues in the preparation of consolidated balance sheet and consolidated income statement
- Preparation of consolidated balance sheet and consolidated income statement involving
- Preparation and presentation of consolidated cash flow statements
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Topic 3
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Accounting for income taxes
- Basic concepts in deferred tax accounting
- Recognition of deferred tax asset/liability
- Measurement issues
- Presentation issues
- Disclosure requirements
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Topic 4
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Foreign currency transaction and translation
- Foreign currency transactions and balances
- Foreign currency translation
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Topic 5
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Accounting for financial instruments
- Theoretical and practical considerations underlying the issuance of FRS 32, FRS 39 and FRS 107.
- Recognition and derecognition
- Measurement
- Presentation
- Disclosure
- Hedge accounting
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Topic 6
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Emerging accounting issues
- Changes in IFRS 3 Business Combinations
- Share-based compensation
- Accounting for non-current assets held for sale
- Accounting standards for small and medium enterprises
- Issues addressed in exposure drafts (ED/FRS and ED/INT FRS)
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