Major syllabus areas for fia , ffa paper and detailed contents are given below:
The context and purpose of financial reporting
- The scope and purpose of financial statements for external reporting
- User,s and stakeholder,s needs
- The main elements of financial reports
- The regulatory framework
- Duties and responsibilities of those charged with governance
The qualitative characteristics of financial information
- The qualitative characteristics of financial information
The use of double entry and accounting systems
- Use of double entry book keeping principles
- Ledger accounts , books of prime entry and journals
Recording transactions and events
- Sales & purchases
- Inventory
- Cash
- Tangible N.C.A
- Depreciation
- Intangible N.C.A
- Amortization
- Accruals and prepayments
- Receivables & Payables
- Provisions and contingencies
- Capital structure and finance costs
Preparing a trial balance
- Trial balance (TB)
- Correction of errors
- Bank reconciliation
- Suspense accounts
Preparing basic financial statements
- Statement of financial position - balance sheet
- Statement of financial performance : income statement and statement of comprehensive income
- Disclosure notes
- Incomplete records
- Events after the reporting period
- Cash flow statements
Preparing simple consolidated financial statements
- Subsidiaries
- Associates
Interpretation of financial statements
- Basic purpose and importance of interpretation & analysis
- Ratio analysis
- Analysis of financial statements
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