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Introduction to Financial Reporting (FR)
Purpose of the syllabus
The aim of the syllabus is to develop knowledge and skills in understanding and applying IFRS Standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements. The financial reporting syllabus assumes knowledge acquired in Financial Accounting (FA), and develops and applies this further and in greater depth.
The broad syllabus headings are;
The conceptual and regulatory framework for financial reporting
Accounting for transactions in financial statements
Analyzing and interpreting the financial statements of single entities and groups
Preparation of financial statements
The syllabus is assessed by a three-hour computer-based examination.
The examination consists of:
Number of marks
Section A – Fifteen 2-mark objective test questions
Section B – Three Questions (5 OTQs each) 2- mark
Section C – Two 20-mark constructed response questions