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| Section | Weight | Objectives |
|---|---|---|
| Business combinations | 13% | - Accounting issues for business combinations - Impairment and journal entries - Consolidated financial statements - Goodwill measurement and disclosure - Non-controlling interest and control concepts |
| Analysis of financial statements | 10% | - Financial ratio calculation and interpretation - Limitations of financial statement analysis |
| The accounting theory | 15% | - Recognition criteria per conceptual framework - Historical cost vs other valuation methods - Agency and contracting theories |
| Application of specific accounting standards | 22% | - Intangible assets and journal entries - Current and deferred income tax accounting - Revenue recognition and ledger reconciliation - Foreign currency transactions and translation |
| Financial statements | 15% | - Statement of cash flows - Discrepancy detection and correction - Statement of profit or loss and other comprehensive income - Statement of financial position |
| The financial reporting environment | 25% | - Types of business entity and structure - Users and developments impacting reporting - Accounting regulation and GAAP/IFRS - Conceptual framework and elements of financial statements - Role of International Accounting Standards Board - Regulatory environment and reporting requirements - Accounting standards and policies |
A decision has been made to change the value of a major non-current asset, upon which depreciation is based, from original cost to a revalued amount. This results in a change in
Correct Answer: D 🗳️
In individual countries, Generally Accepted Accounting Principles (GAAP) is primarily a combination of
Correct Answer: D 🗳️
Which one of the following situations would result in either a new liability being recognised or an existing liability being increased?
Correct Answer: C 🗳️
The amount of cash or cash equivalents that could currently be obtained by selling an asset in an orderly disposal, refers to which basis of measurement?
Correct Answer: B 🗳️
Which one of the following shows whether the financial statements of a company show a true and fair presentation of the financial performance of the company?
Correct Answer: C 🗳️
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