• 1

  A | The Context and Purpose of Financial Reporting

  • 1. The scope and purpose of financial statements for external reporting
  • 2. Users' and stakeholders' needs
  • 3. The main elements of financial reports
  • 4. The regulatory framework (legislation and regulation, reasons and limitations, relevance of accounting standars)
  • 5. Duties and responsibilities of those charged with governance
• 2

  B | The Qualitative Characteristics of Financial Information

  • 1. The qualitative characteristics of financial information
• 3

  C | The use of Double-entry and Accounting Systems

  • 1. Double entry bookkeeping principles including the maintenance of accounting records and sources of accounting information
  • 2. Ledger accounts, books of prime entry, and journals
• 4

  D | Recording Transactions and Events

  • 1. Sales and purchases
  • 2. Cash
  • 3. Inventory
  • 4. Tangible non-current assets
  • 5. Depreciation
  • 6. Intangible non-current assets and amortisation
  • 7. Accruals and prepayments
  • 8. Receivables and payables
  • 9. Provisions and contingencies
  • 10. Capital structure and finance costs
• 5

  E | Prepare a Trial Balance

  • 1. Trial balance
  • 2. Correction of errors
  • 3. Control accounts and reconciliations
  • 4. Bank reconciliations
  • 5. Suspense accounts
• 6

  F | Preparing Basic Financial Statements

  • 1. Statements of financial position
  • 2. Statements of profit or loss and other comprehensive income
  • 3. Disclosure notes
  • 4. Events after the reporting period
  • 5. Statements of cash flows
  • 6. Incomplete records
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  G | Preparing Simple Consolidated Financial Statements

  • 1. Subsidiaries
  • 2. Associates
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  H | Interpretation of Financial Statements

  • 1. Importance and purpose of Analysis of financial statements
  • 2. Ratios
  • 3. Analysis of financial statements

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