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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;
A | The conceptual and regulatory framework for financial reporting
|
B | Accounting for transactions in financial statements
|
C | Analyzing and interpreting the financial statements of single entities and groups |
D | 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
| 30 |
Section B – Three Questions (5 OTQs each) 2- mark | 20 |
Section C – Two 20-mark constructed response questions
| 30 |
Time allowed
| 3 hours |
Total Marks
| 100 |