8/4/2019 ffaf3_syllandsg_2011
1/13
1
al Accounting
ed to help
is intended to
could be
any examination session.
LLABUS AND
inks
eding o
nne
olid l
here there is
t link and no required underpinnin
are shown as dotted line arrows. The relational
cates where you are expect
here it wo
efore
f the syllabus
the broadest sense the
capabilities to be developed within the paper.
ral mai
the syllabus and study
guide into discrete sections.
betwe
the syllabus an
should be used as an aid to planning teaching an
learning in a structured way.
Syllabus rationale
This is a narrative explaining how the syllabus is
structured and how the main capabilities are linked.
The rationale also explains in further detail what theexamination intends to assess and why.
Detailed syllabus
main capabilities
to subject areas. This is
detailed study guide.
llabus
This section briefly explains the structure of the
examination and how it is assessed.
ts and
ould use as the
ion and materials
detail of theively identifies what
ation session.
ection and
vided into sections
entified in the
ivided into subject
capabilities included
bject areas are broken
hich describe the detailed
outcomes that could be assessed in examinations.
outcomes are described using verbsnts to
ctual level at
e demonstrated
rtner - content (ALP-
e programme through which ACCA approves
learning materials from high quality content
ned to support study towards ACCAs
ed Learning Partner
Media. In addition,
ved Learning
For information about ACCA's
Approved Learning Partners - content, please go
ACCA's Content Provider Directory.
The Directory also lists materials by Subscribers,these materials have not been quality assured by
ACCA but they may be useful reading. You will also
find details here of Additional Reading which the
Financi(F3/FFA)December 2011
This syllabus and study guide is design
with teaching and learning and
provide detailed information on what
assessed in
THE STRUCTURE OF THE SY
STUDY GUIDE
Relational diagram with other papers
This diagram shows direct and indirect l
between this paper and other papers prec
following it. Some papers are directly underpi
by other papers. These links are shown as s
arrows. The links between papers w
only an indirec
rstudy guide which comprehend s
ine could be assessed in any examin
g breakdown of the syllabus. It is di
diagram therefore indi ed re d
to have underpinning knowledge and w uld areas which relate to the sub-
be useful to review previous learning b
undertaking study.
Overall aim o
of theThis explains briefly the overall objective
paper and indicates in
Main capabilities
This papers aim is broken down into seve n ACCA's Approved Learning Pa
capabilities which divide
Relational diagram of main capabilities
This diagram illustrates the flows and links en ACCA has one Platinum Approv
the main capabilities (sections) of d content which is BPP Learning
dPartners - content.
This shows the breakdown of the
(sections) of the syllabus in
the blueprint for the
Approach to examining the sy
Study Guide
This is the main document that studen
learning and content providers sh
basis of their studies, instruct
respectively.
Examinations will be based on the
The study guide is a precise refl
based on the main capabilities id
syllabus. These sections a
in the detailed syllabus. Su
down into sub-headings w
Theseindicating what exams may require stude
demonstrate, and the broad intelle
which these may need to b
(*see intellectual levels below).
Learning Materials
c) is th
providers desig
qualifications.
there are a number of Gold Appro
8/4/2019 ffaf3_syllandsg_2011
2/13
2
e useful
supplementary reading for students.
h
http://www.accaglobal.com/learningproviders/alpc/c
Examiner has suggested may b
ACCA's Content Provider Directory can be
ere
found
ontent_provider_directory/search/.
Relevant articles will also be published in Studen
TUAL
progressively
ills
f levelsrelate
) and ot
ark, thes
t the
Accounta
valent, at
Intermediate level and to first year degree level at
Diploma (the
le)
to
uides assess both
knowledge and skills. Therefore a clear distinction
n assess
ir
usiness
denoted
is
K
For this syllabus the approximate number of
standard learning hours that a candidate needs to
commit to each examination is based on the credit
value of the Qualifications and Credit Framework
(QCF) UK, units which make up the syllabus. For
FFA or F3, Financial Accounting, the total learning
hours or credit value of the syllabus is 18 credits or
180 hours which includes direct tuition time, selfstudy, revision and assessment time.
ngland, Wales and
xam related to the
above syllabus gives credit for the following QCF
inancial statements
accounts preparation
sole traders
s
TRUCTURE
ries within and
% compulsory
tes to study across
the breadth of each syllabus.
ssed by two-hour paperexaminations.
ination papers is 50%.
ESSMENT
ludes knowledge,
s, and concepts as
, ACCA will
nce a year to
gulations and legislation
ed within identified
ions.
issuedor legislation passed
annually, will be
llowing year to May
to the
paper (where.
passed in
dates may be
examinable even if the effectivedate is in the
future. The term issued or passed relates to when
regulation or legislation has been formally approved.
The term effective relates to when regulation or
legislation must be applied to entity transactions
and business practices.
The study guide offers more detailed guidance on
the depth and level at which the examinable
t
Accountant.
LEVEL OF ASSESSMENTS INTELLEC
DEMAND
ACCA qualifications are designed to
broaden and deepen the knowledge and sk
demonstrated by the student at a range otheir way through each qualification. These
intellectual levels as designated by the UK
qualifications and credit framework (QCF
qualifications frameworks. As a benchm
levels progress from GCSE equivalent a
Introductory level of the Foundations in
(FIA) programme, to A level, or its equi
questions to encourage candida
on All examinations are asseto based and computer based
am
her
e
The pass mark for all ex
GUIDE TO EXAMINATION ASS
ncy
the
ACCA reserves the right to examine anything
contained within any study guide at any
examination session. This inc
techniques, principles, theorie
specified.the Advanced level. The Advanced
Skills module plus professional Ethics Modu
within the ACCA Qualification is equivalentundergraduate degree level and the Professional
level is benchmarked at Masters level.
Throughout, the study g
is
g
For the financial accounting, audit and tax papers,
except where indicated otherwise
publish examinable documents o
indicate exactly what re
could potentially be assess
examination sessdrawn, within each subject area, betwee
knowledge and skills and in assessing the
in
application within an accounting or b
context. The assessment of knowledge is
a superscriptK and the assessment of skills
denoted by the superscriptS.
VALUE OF ASSESSMENTS (BASED ON U
FRAMEWORKS) GUIDED LEARNING HOURS
by
Examinations regulation
on or before 30th September
assessed from June 1st of the fo
31st of the year after. Please refer
For QCF registered learners in E
Northern Ireland, passing the e
units:
Principles of drafting f Principles of Preparing final accounts for Drafting financial statement
GUIDE TO EXAM S
The structure of examinations va
between modules and levels.
The examinations contain 100
examinable documents for therelevant) for further information
Regulation issued or legislation
accordance with the above
8/4/2019 ffaf3_syllandsg_2011
3/13
3
guide
d in conjunction with the
ructure requires candidates who wish to be awarded the Diploma in Accounting and Business
to pass the F1/FAB, F2/FMA and the F3/FFA examinations and successfully complete the Foundations in
Professionalism module
Syllabus Structure
The FIA syllabus is designed at three discrete levels,but students can enter at any point. Students are
recommended to enter FIA at the level which is
most appropriate to their needs and to take
examinations in order, but this is not a mandatoryrequirement
documents will be examined. The study
should therefore be rea
examinable documents list.
Qualification Structure
The qualification st
Diploma in
Accounting
and Business
F3/FFAF1/FAB F2/FMAFiP*+ + + =
* Foundations in Professionalism
P2
F7
F3
FA1
FA2
FFA
ACCA
FIA
8/4/2019 ffaf3_syllandsg_2011
4/13
4
Syllabus
f the
to
oficiency in the
uble-entry accounting techniques includi
n of basic financial statements
ions of
idate t
work
e
tion. T e
T
re o di g
ans
of the tr l
nts for
incorporated and unincorporated entities. The
syllabus then moves in tw
requiring candidates to be able to conduct a basic
interpretation of financial statements; and secondly
req ion of simple consolidated
the individual financial
statements of group incorporated entities
On successful completion of this paper, candidates
d purpose of financial
ng
aracteristics of
information
and events
ce (including identifying
and correcting error
F. Prepare basic financial statements forncorporated entities.
re simple consolidated financial
statements
H. Interpretation of financial statements
RELATION L DIAGRAM OF MAIN CAPABILITIES
AIM
To develop knowledge and understanding o
underlying principles and concepts relating
financial accounting and technical pr
use of do
the preparatio
ngshould be able to:
.
RATIONALE
The syllabus for Paper FFA/F3, Foundat
Financial Accounting, introduces the cand
the fundamentals of the regulatory frame
relating to accounts preparation and to th
qualitative characteristics of useful informa
syllabus then covers drafting financial stateand to principles of accounts preparation.
syllabus then concentrates in depth on
processing, and reporting business tr
events. The syllabus then covers the use
balance and how to identify and correct er
then the preparation of financial stateme
o
haccounting systems
mentshe
D. Record transactions
c r n ,
actions andE. Prepare a trial balan
ia
rors, and incorporated and uni
o directions, firstlyG. Prepa
financial statements from
MAIN CAPABILITIES
A. Explain the context an
reporti
B. Define the qualitative ch
financial
C. Demonstrate the use of double-entry and
uiring the preparat
A
Th
of financial reporting
(A)
e context and purpose The qualitative
characteristics
of financial information (B)
Recording
transactionsand events (D)
The use of double-entry and accounting systems (C)
Preparing a trial balance (E)
Preparing basic financial statements (F)
Preparing simple consolidated statements (G)
Interpretation ofFinancial
statements (H)
8/4/2019 ffaf3_syllandsg_2011
5/13
5
DETAILED SYLLABUS
1. The scope and purpose of, financial statements
3. ts
4. The regulatory framework (legislation and
nc
standards)
esponsibilities of those charged
with governance.
iv acteristics of financial
1. The qualitative characteristics of financial
C d accounting
1. Double-entry book-keeping principles includ g
ng records andng information
ger accounts, books of prime entry, and
journals
and events
purchases
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
reparing a trial balance
lance
3. Control accounts and reconciliations
4. Bank reconciliations
s
ncial statements
1. Statements of financial position
nts and statements of
comprehensive income
Disclosure notes
4 Events after the reporting period
Statements of cash flows (excluding
partnerships)
ncomplete records
solidated financial
statements
ubsidiaries
2. AssociatesH Interpretation of financial statements
1. Importance and purpose of analysis of financialstatements
2. Ratios3. Analysis of financial statements
A The context and purpose of financial reporting
for external reporting
2. Users and stakeholders needs
The main elements of financial repor
regulation, reasons and limitations, releva
of accounting
e
5. Duties and r
B The qualitat e char
information
information
The use of double-entry an
systems
in
the maintenance of accounti 6. Isources of accounti
2. Led
D Recording transactions
1. Sales and
2. Cash
3. Inventory
E P
1. Trial ba
2. Correction of errors
5. Suspense account
F Preparing basic fina
2. Income stateme
3.
5.
G Preparing simple con
1. S
8/4/2019 ffaf3_syllandsg_2011
6/13
6
APPROACH TO EXAMINING THE SYLLABUS
Y A TWO HOUR
D OR COMPUTER-BASED
er-based
ons will
ill include both
l elements.
mark
tyle
ed
t materials will contain some of
these longer style questions. ACCA will provide
sufficient notice on when the longer style questions
will be introduced.
THE SYLLABUS IS ASSESSED B
PAPER-BASE
EXAMINATION.
The syllabus is assessed by a two hour pap
or computer-based examination. Questi
assess all parts of the syllabus and w
computational and non-computationa
The examination will consist of 50 two
questions. ACCA will introduce longer s
questions in the future and as such approv
learning conten
8/4/2019 ffaf3_syllandsg_2011
7/13
7
Study Guide
A PURPOSE OF
1. The scope and purpose of, financial
) g,
ncial data.[K]
b) Identify and define types of business entity
ty
) een a so
ility
d antages and disadvantages o
operating as a limited liability company, sole
) d scope
) ts and
3. The main elements of financial reports
) of each of
b s, equity,
a) Understand the role of the regulatory system
dation
(IFRSF), the International Accounting
Standards Board (IASB), the IFRS Advisory
Council (IFRS AC) and the IFRS Interpretations
Committee (IFRS IC).[K]
b) Understand the role of International Financial
Reporting Standards.
[K]
5. Duties and responsibilities of those charged
with governance
vernance
lly in the context of the preparation of
responsibilities of
statements. [K]
RACTERISTICS OF
FINANCIAL INFORMATION
ristics of financial
fine, understand and apply accounting
pts and qualitative characteristics:[K]air presentation
g concern
cy
Materiality
ce
bility
representation
ver form
x) Neutrality
Completeness
standability
xv) Business entity concept
between qualitative
characteristics.[K]
-ENTRY AND
ACCOUNTING SYSTEMS
principles
f accounting
a) Identify and explain the function of the main
data sources in an accounting system.[K]
b) Outline the contents and purpose of different
types of business documentation, including:
quotation, sales order, purchase order, goods
received note, goods despatched note, invoice,
statement, credit note, debit note, remittanceadvice, receipt.[K]
THE CONTEXT AND
FINANCIAL REPORTING
statements for external reporting
a Define financial reporting recordin
analysing and summarising fina B THE QUALITATIVE CHA
sole trader, partnership, limited liabili
company.[K]
c Recognise the legal differences betw
trader, partnership and a limited liabcompany.[K]
le a) De
) Identify the adv f iii) Accruals
iv) Consistentrader or partnership.[K]
e Understand the nature, principles an
financial reporting.[K]
ofRelevan
2. Users and stakeholders needs
a Identify the users of financial statemen
state and differentiate between their
information needs.[K]
a Understand and identify the purpose
the main financial statements.[K]
) Define and identify assets, liabilitie
revenue and expenses.[K]
4. The regulatory framework
including the roles of the IFRS Foun
a) Explain what is meant by go
specifica
financial statements[K]
b) Describe the duties and
directors and other parties covering the
financialpreparation of the
1. The qualitative characte
ationinform
concei) F
ii) Goin
v)
vi)
vii) Relia
viii)Faithful
ix) Substance o
xi) Prudencexii)
xiii) Comparability
xiv) Under
b) Understand the balance
C THE USE OF DOUBLE
1. Double-entry book-keeping
including the maintenance o
records
8/4/2019 ffaf3_syllandsg_2011
8/13
8
c) of double
concept.[K]
d) Understand and apply the accounting
e) em
iding useful accounting
tiona
transactions
ales, purchases, payments, receipts.[K]
2 ntry and
) unts an
r
nature and function.[K]
b) Understand and illustrate the uses of journa
to ledger[S]
c) Identify correct journals from given narrative.[S]
d) Illustrate how to balance and close a ledger
D EVENT
1. Sales and purchases
a) se transactions in
b) Understand and record sales and purchase
c) Understand the general principles of the
ation of a sales tax.[K]
d) Calculate sales tax on transactions and record
the consequent accounting entries.[S]
e) Account for discounts allowed and discounts
received.[S]
2. Cash
a) Record cash transactions in ledger accounts.[S]
nderstand the need for a record of petty cash
transactions.[K]
g financial statements.[K]
Record opening and closing inventory.[S]
ods of valuing
ry.[K]
stand and apply the IASB requirements
for valuing inventories.[S]
ise which costs should be included in
f) Understand the use of continuous and period
end inventory records.[K]
e of closing inventory using
nd AVCO (average
he impact of accounting conceptsof inventory.[K]
tory valuation
ds on profit and on assets.[S]
ets
ts.[K]
b) Recognise the difference between current and
between capital and
d) Classify expenditure as capital or revenue
expenditure.[S]
e) Prepare ledger entries to record the acquisition
and disposal of non-current assets.[S]
f) Calculate and record profits or losses on
disposal of non-current assets in the income
Understand and apply the concept -
b) Uentry accounting and the duality
equation.[S]
Understand how the accounting syst
contributes to prov
information and complies with organisa
policies and deadlines.[K]l
b)
f) Identify the main types of business
e.g. s
. Ledger accounts, books of prime e
journals
a Identify the main types of ledger acco
books of prime entry, and understand thei
d
ls
and the posting of journal entries in
accounts.
g) Calculate the valu
account.[S]
D RECORDING TRANSACTIONS AN S i) Identify the impact of inven
metho
Record sale and purcha
ledger accounts.[S]
returns.[S]
oper
3. Inventory
a) Recognise the need for adjustments for
inventory in preparin
c) Identify the alternative meth
invento
d) Under
e) Recogn
valuing inventories.[S]
FIFO (first in, first out) a
cost).[S]
h) Understand ton the valuation
4. Tangible non-current ass
a) Define non-current asse
non-current assets.[K]
c) Explain the difference
revenue items. [K]
8/4/2019 ffaf3_syllandsg_2011
9/13
9
including part exchange
transactions.[S]
g) t asse
s, the statement of
comprehensive income and in the statement of
l of a
i) Illustrate how non-current asset balances an
l
ents.[S]
j) Explain the purpose and function of an asse
a) Understand and explain the purpose of
b e the charge for depreciation using
e methods.
c) ircumstances where different
methods of depreciation would be
d
accumulated depreciation are recorded in
e) lued non-
sset including the transfer of excess
reserve
ion
on-
g) Record depreciation in the income statement
and statement of financial position.[S]
6. Intangible non-current assets and amortisation
a) Recognise the difference between tangible and
intangible non-current assets.[K]
b) Identify types of intangible assets.[K]
treatment of
development costs in
ance with International Financial[K]
amounts to be capitalised as
development expenditure or to be expensed
t n.[S]
xplain the purpose of amortisation.[K]
account for the charge for
amortisation.[S]
prepayments
tching concept applies
als and prepayments.[K]
djustments needed
for accruals and prepayments in preparing
financial statements.[S]
justing for accruals
ring financial
ournal entries and ledger entries
for the creation of an accrual or prepayment.[S]
Understand and identify the impact on profit
d prepayments.[S]
8. Receivables and payables
a) Explain and identify examples of receivables
s of offering credit
es to customers.[K]
of an aged receivables
analysis.[K]
d) Understand the purpose of credit limits.[K]]
e) Prepare the bookkeeping entries to write off an
irrecoverable debt.[S]
f) Record an irrecoverable debt recovered.[S]
statement
Record the revaluation of a non-curren
ledger account
t in Reporting Standards.
d) Calculate
financial position.[S]
h) Calculate the profit or loss on disposa
revalued asset.[S]
d f) Calculate and
movements are disclosed in financia
statem
t
a) Understand how the ma
to accru
register.[K]
5. Depreciation
depreciation.[K]
) Calculat
straight line and reducing balanc
Identify the c
[S]
appropriate.[K]
) Illustrate how depreciation expense and
ledger accounts.[S]
Calculate depreciation on a reva
current a
depreciation between the revaluation
and retained earnings.[S]and payables.[K]
f) Calculate the adjustments to depreciat
necessary if changes are made in the estimated
useful life and/or residual value of a n
current asset.[S]
c) Identify the definition and
research costs and
accord
from given informa io
e) E
7. Accruals and
b) Identify and calculate the a
c) Illustrate the process of ad
and prepayments in prepa
statements.[S]
d) Prepare the j
e)
and net assets of accruals an
b) Identify the benefits and cost
faciliti
c) Understand the purpose
8/4/2019 ffaf3_syllandsg_2011
10/13
10
g) bts on
tement and on the statement of[S]
h) Prepare the bookkeeping entries to create and
.[S]
i) in the
statement and how the closing balance of the
ent o
sition.[S]
eivables
k) tand the purpose
lier statements.[S]
) non-current
ncial
a) Understand the definition of provision,
sset.
b en and classify items astingen
) methods
accounting for provisions, contingent liabilities
d) Calculate provisions and changes in
vement in provisions.[S]
sions in the final accounts.[S]
10. Capital structure and finance costs
a) Understand the capital structure of a limited
liability company including: [K]
i) Ordinary shares
ii) Preference shares (redeemable and
irredeemable)
iii) Loan notes.
ements in the share capital and
share premium accounts.[S]
reserves which
may appear in the company statement of
n) issue and its
ages.[K]
nd its advantages and
financial position.[S]
and show the effects of a rights issue insition.[S]
h) Record dividends in ledger accounts and the
r[S]
j) Identify the components of the statement of
ALANCE
1. Trial balance
entify the purpose of a trial balance.[K]
balances into a trial balance.[S]
extracts of an opening trial balance.[S]
limitations of a
2. Correction of errors
a) Identify the types of error which may occur in
bookkeeping systems.[K]
b) Identify errors which would be highlighted by
the extraction of a trial balance.[K]
c) Prepare journal entries to correct errors.[S]
Identify the impact of irrecoverable de
the income sta
financial position.
adjust an allowance for receivables
Illustrate how to include movements
allowance for receivables in the income
allowance should appear in the statem
financial po
f e) Define a rights issue a
disadvantages.[K]
j) Account for contras between trade rec
and payables.[S]
Prepare, reconcile and unders
of supp
l Classify items as current or
liabilities in the statement of fina
position.[S]
9. Provisions and contingencies
contingent liability and contingent a
) Distinguish betwe
[K]
provisions, contingent liabilities or con
assets.[K]t E PREPARING A TRIAL B
c Identify and illustrate the different of
a) Id
and contingent assets.[K]
provisions.[S]
e) Account for the mo
f) Report provi
b) Record mov
c) Identify and record the other
financial position.[S]
d) Define a bonus (capitalisatio
advantages and disadvant
f) Record and show the effects of a bonus
(capitalisation) issue in the statement of
g) Recordthe statement of financial po
financial statements.[S]
i) Calculate and record finance costs in ledge
accounts and the financial statements.
changes in equity.[K]
b) Extract ledger
c) Prepare
d) Identify and understand the
trial balance.[K]
8/4/2019 ffaf3_syllandsg_2011
11/13
11
d pact of errors
ent of
v income and statement of
) counts for
ounts payable.[K]
relate to t
try system.[K]
) given
d ns for
accounts receivable and accounts payable.[S]
e) ich would be highlighted by
rol account reconciliation.[K
in control account
ccounts.[S]
a) Understand the purpose of bank
fferences
) ions.[S]
onciliation statements.[S]
) h book balan
ven information.[S]
ported in the
.[S]
5. Suspense accounts
a) Understand the purpose of a suspense
account.[K]
b) Identify errors leading to the creation of a
suspense account.[K]
c) Record entries in a suspense account.[S]
Make journal entries to clear a suspense
account.[S]
ING BASIC FINANCIAL
sition
nd
vention underlie the
statement of financial position.[K]
nature of reserves.[K]
n a company
statement of financial position.[S]
ncial position orextracts as applicable from given information.[S]
nd why the heading retained earnings
appears in a company statement of financial
and statements of
a) Prepare an income statement and statement of
xtracts asrmation.[S]
g concepts apply to
nd expenses.[K]
les, gross profit,
d total comprehensive
income from given information.[S]
me and expenditure in
come statement of
g the under and
overprovision of tax in the prior year.[S]
f) Understand the interrelationship between the
statement of financial position, income
statement and statement of comprehensive
income. [K]
g) Identify items requiring separate disclosure on
the face of the income statement.[K]
) Calculate and understand the im
on the income statement, statem
comprehensi e
financial position.[S]
3. Control accounts and reconciliations
a Understand the purpose of control ac
accounts receivable and acc
b) Understand how control accounts
double-en
he business entity con
c Prepare ledger control accounts from
information.[S]
) Perform control account reconciliatio
Identify errors wh
performing a cont ]
f) Identify and correct errors
and ledger a
s
4. Bank reconciliations
reconciliations.[K]
b) Identify the main reasons for di
between the cash book and the bank
statement.[K]
c Correct cash book errors and/or omiss
d) Prepare bank rec
e Derive bank statement and cas
from gi
ces
d) Disclose items of inco
the income statement. [S]
f) Identify the bank balance to be re
final accounts
d)
F PREPAR
STATEMENTS
1. Statements of financial po
a) Recognise how the accounting equation a
b) Understand the
c) Identify and report reserves i
d) Prepare a statement of fina
e) Understa
position.[K]
2. Income statements
comprehensive income
comprehensive income or eapplicable from given info
b) Understand how accountin
revenue a
c) Calculate revenue, cost of sa
profit for the year, an
e) Record income tax in the in
a company includin
8/4/2019 ffaf3_syllandsg_2011
12/13
12
3. Disclosure notes
[K]
b wing disclosure notes
t assets including tangible and in
ions
ng period
iv) Inventory
4 d
c
b vents as adjusting or non-adjusting
c) ng and non-
adjusting events are reported in the financia
ing
a) h flow.[K]
b) Understand the need for management to
) s to users
ments of a statement of
d)
e) te the figures needed for the statement
of cash flows including:[S]
es
es
iii) Cash flows from financing activities
f) Calculate the cash flow from operating
activities using the indirect and direct
method.[S]
g) Prepare statements of cash flows and extracts
from statements of cash flows from given
information.[S]
t of given transactions in a
companys statement of cash flows.[K]
d apply techniques used in
: [S]
on
ts to calculate missing
res
iii) Use of cash and/or bank summaries
ges to calculate
s.
REPARING SIMPLE CONSOLIDATED
ubsidiaries
g terms in the
accounting: [K]
ii) Subsidiary
financial statements
imple investment
a group structure.[K]
and prepare a
statement of financial position or
ng: [S]
ts at acquisition on
transferred from
sh and shares (excluding deferred and
contingent consideration)
iii) Elimination of inter-company trading
balances (excluding cash and goods in
transit)
iv) Removal of unrealised profit arising on
inter-company trading
v) Acquisition of subsidiaries part way through
the financial year
a) Explain the purpose of disclosure notes
) Draft the follo [S]
i) Non curren
tangible assets
ii) Provis
iii) Events after the reporti
. Events after the reporting perio
a) Define an event after the reporting period in
accordance with International Finan ial
Reporting Standards.[K]
) Classify e .[S] 1. S
Distinguish between how adjusti
l context of group
statements.[K]
5 Statements of cash flows (exclud
partnerships)
Differentiate between profit and cas
control cash flow.[K]
c Recognise the benefits and drawback
of the financial state extracts thereof includi
i) Fair value adjustmencash flows. [K]
Classify the effect of transactions on cash
flows.[S]
Calcula
i) Cash flows from operating activiti
ii) Cash flows from investing activiti
h) Identify the treatmen
6. Incomplete records
a) Understand an
incomplete record situations
i) Use of accounting equati
ii) Use of ledger accoun
figu
iv) Use of profit percenta
missing figure
G P
FINANCIAL STATEMENTS
a) Define and describe the followin
i) Parent
iii) Control
iv) Consolidated or group
v) Non-controlling interest
vi) Trade / s
b) Identify subsidiaries within
c) Describe the components of
consolidated
land and buildings (excluding depreciation
adjustments)
ii) Fair value of consideration
ca
8/4/2019 ffaf3_syllandsg_2011
13/13
13
d ment of
using the full goodwill method on
X
controlling inter X
ss fair value of net assets at acquisition (X
) Calculate goodwill (excluding impair
goodwill) ly
as follows: [S]
Fair value of consideration
Fair value of non- est
Le )
XGoodwill at acquisition
e) prepare a
hensive
or extracts thereof including: [S]
rading
ing cash and goods in
nrealised profit arising on
ompany trading
iii) Acquisition of subsidiaries part way through
2. Associa
) ignificant
tions where
icipating interest
b) Describe the key features of a parent-associate
entify an
ithin a group structure.[K]
accounting[K]
H L
ENTS
1. Importance and purpose of analysis ofcial statements
) nalysis of
ments is used in a business[K]
b) Explain the purpose of interpretation of ratios[K].
2. Ratiosa) Calculate key accounting ratios [S]
i) Profitability
ii) Liquidity
iii) Efficiency
iv) Position
b) Explain the interrelationships between ratios[K]
tements
lationship
s of the financial
statements with regard to profitability, liquidity,
d financial
lid conclusions from the information
contained within the financial statements and
present these to the appropriate user of the
financial statements. [S]
Describe the components of and
consolidated statement of compre
income
i) Elimination of inter-company t
balances (exclud
transit)
ii) Removal of u
inter-c
the financial year
tes
a Define and identify an associate and s
influence and identify the situa
significant influence or part
exists. [K]
relationship and be able to id
associate w
c) Describe the principle of equity
INTERPRETATION OF FINANCIA
STATEM
finan
a Describe how the interpretation and a
financial state
environment.
3. Analysis of financial sta
a) Calculate and interpret the re
between the element
efficient use of resources an
position[S].
b) Draw va