T ADVANCED FI EF
OUTCOMES / TOPICS The examiness must be able to: 1.0 1.0
Partn Partners ershi hi A!! A!!"#n "#nti tin$ n$ 11 Natu!e" #$o%e an& Ob'e$ti(es 111 )es$!ibe the natu!e" s$o%e an& ob'e$ti(es o* %a!tne!shi% a$$ountin+ an& $on$e%tuall, &i**e!entiate it *!om sin+le %!o%!ieto!shi% an& $o!%o!ation a$$ountin+ 112 )es$!ibe the $on$e%ts" %!in$i%les" !ules" %!a$ti$es an& %!o$e&u!es a%%li$able in %a!tne!shi% a$$ountin+ 12 Fo!mation o* -a!tne!shi% 121 Com%ute an& a$$ount *o! the initial $a%ital $ont!ibution o* the %a!tne!s in the %a!tne!shi% 1. O%e!ations" )issolutions" an&/o! Chan+es in One!shi% o* Inte!est o* the -a!tne!s 1.1 Com%ute" a$$ount an& allo$ate the $han+es in the $a%ital balan$es o* the %a!tne!s as a !esult o* the o%e!ations an&/o! $han+es in the $om%osition o* the %a!tne!s 1 i3ui&ation o* -a!tne!shi% 11 Com%ute the amount o* settlement to the %a!tne!s a*te! li3ui&atin+ the %a!tne!shi% un&e! 4a5 lum%6sum li3ui&ation o! 4b5 installment li3ui&ation
%.0 %.0
C"r" C"r"rat rate e Li&# Li&#i'a i'ati ti"n "n 21 )ete!mine the o!&e! o* %!io!it, o* the $laimants to the $om%an, assets o* $o!%o!ation sub'e$t to li3ui&ation 22 -!e%a!e the #tatement o* A**ai!s" #tatement o* )e*i$ien$, an& #tatement o* 7eali8ation an& i3ui&ation
(.0
)"int )"int Arran Arran$e*e $e*ents nts +PFRS +PFRS 11, .1 oint O%e!ations .11 )es$!ibe the natu!e an& s$o%e o* 'oint o%e!ations .12 )i**e!entiate *!om oint Ventu!e an& usiness Combinations .1. A%%l, the stan&a!&s" %!in$i%les an& metho&s in a$$ountin+ *o! 'oint o%e!ations t!ansa$tions .2 oint Ventu!e .21 )es$!ibe the natu!e an& s$o%e o* 'oint (entu!es .22 )i**e!entiate *!om oint Ventu!e an& usiness Combinations .2. A%%l, the stan&a!&s" %!in$i%les an& metho&s in a$$ountin+ *o! 'oint (entu!e t!ansa$tions
-.0 -.0
Reen Reen#e #e Re!"$ Re!"$ni niti ti"n "n 1 Installment #ales 11 )ete!mine the %oint o* !e(enue !e$o+nition un&e! installment sales 12 Com%ute Com%ute the +!oss %!o*it !ate an& a$$ount *o! the !eali8e& +!oss %!o*it *o! ea$h ,ea! o* sales an& the &e*e!!e& +!oss a$$ount balan$e at the en& o* the ,ea! 1. Com%ute the ;ain o! oss o* 7e%ossession to be !e$o!&e& o! !e$o+ni8e& 2 on+6te!m Const!u$tion Cont!a$ts 6 IA# 11/-F7# 1< 21 -!e%a!e 'ou!nal ent!ies an& &ete!mine !e(enue" $osts an& +!oss %!o*it un&e! 4a5 -e!$enta+e o* $om%letion metho& an& 4b5 Cost !e$o(e!, metho& 22 A%%l, the %e!tinent -F7# #tan&a!&s to ensu!e %!o%e! *inan$ial statement %!esentation . F!an$hise O%e!ations 6 F!an$hiso!=s %oint o* (ie 6 IA# 1> / IF7# 1< .1 )ete!mine !e(enue" $osts an& +!oss %!o*it an& a%%l, a$$ountin+ te$hni3ues an&
%!o$e&u!es in %!o$essin+ *!an$hise *ee an& !elate& *!an$hise t!ansa$tions .2 -!e%a!e 'ou!nal ent!ies *o! *!an$hise t!ansa$tions A$$ountin+ *o! Consi+nment #ales 1 -!e%a!e 'ou!nal ent!ies to !e$o!& sale o* me!$han&ise b, the $onsi+nee to thi!& %a!ties an& its !emittan$e to the $onsi+no! 2 )ete!mine the $onsi+no!=s $ost o* +oo&s sol& an& %!o*it o! loss .0
A!!"#ntin$ "r "*e Oi!e2 Bran!h an' A$en!3 Transa!ti"ns <1 <2 <.
4.0
Com%ute an& !e$on$ile !e$i%!o$al a$$ounts an& %!e%a!e in&i(i&ual an& $ombine& *inan$ial statements -!e%a!e 'ou!nal ent!ies *o! t!ansa$tions on the boo?s o* the @ome O**i$e an& the !an$h A$$ount *o! s%e$ial %!o$e&u!es in home o**i$e an& b!an$h t!ansa$tions 4inte!6b!an$h t!ans*e! o* $ash an& me!$han&ise at $ost an& at bille& %!i$e5
A!!"#ntin$ "r B#siness C"*5inati"n +PFRS (, 1 )es$!ibe the natu!e" s$o%e an& $ha!a$te!isti$s o* a business $ombination 2 )ete!mine the $ost o* a$3uisition o* the a$3ui!e! . 7e$o+ni8e a$3ui!e& assets an& liabilities" $om%ute +oo&ill o! +ain *!om a ba!+ain %u!$hase -!e%a!e 'ou!nal ent!ies in the boo?s o* the a$3ui!e! < As$e!tain the %!o%e! *inan$ial statement %!esentation o* the !esults o* business $ombinations t!ansa$tion
6.0
Searate Finan!ia7 State*ent +PAS %6, B1 )ete!mine an& a%%l, a$$ountin+ *o! In(estment in #ubsi&ia!, in a$$o!&an$e ith -A# .9/-F7# 9 B2 )ete!mine an& a%%l, a$$ountin+ *o! in(estment in subsi&ia!, usin+ the e3uit, metho& B. As$e!tain the %!o%e! *inan$ial statement %!esentation o* the se%a!ate *inan$ial statements
8.0
C"ns"7i'ate' Finan!ia7 State*ents +PFRS 10, >1 )ete!mine the natu!e" s$o%e an& a%%li$ation o* %!e%a!ation o* $onsoli&ate& *inan$ial statements 4At $ost" in a$$o!&an$e ith -A# .9" an& e3uit, metho&5 >2 A$$ount *o! inte!$om%an, %!o*its in in(ento!ies an& %lant assets >. )ete!mine net in$ome" othe! $om%!ehensi(e in$ome" an& !etaine& ea!nin+s / $ommon sto$? att!ibutable to E3uit, @ol&e!s o* -a!ent / Cont!ollin+ o! -a!ent=s Inte!est an&" Consoli&ate& +!ou% > As$e!tain the %!o%e! %!esentation o* the $onsoli&ate& *inan$ial statements
9.0
F"rei$n C#rren!3 Transa!ti"ns 91 I&enti*, the a%%li$able !ate *o! *o!ei+n $u!!en$, t!ansa$tions an& he&+in+ o%e!ations 92 )ete!mine the +ain o! loss on *o!ei+n $u!!en$, t!ansa$tions an& he&+in+ o%e!ations 9. As$e!tain the %!o%e! *inan$ial statement %!esentation on the *o!ei+n $u!!en$, t!ansa$tions an& he&+in+ o%e!ations 9 A$$ount *o! *o!ei+n $u!!en$, *o!a!& $ont!a$ts he!e he&+e a$$ountin+ is !e3ui!e& o! not !e3ui!e&
10.0 Transa!ti"n " F"rei$n C#rren!3 Finan!ia7 State*ents +PAS %1 / PAS %9, 101 T!anslate *!om the Fun$tional Cu!!en$, to the -!esentation Cu!!en$, 102 7emeasu!e *!om a Fo!ei+n Cu!!en$, to the Fun$tional Cu!!en$, 10. 7estate an& as$e!tain the %!o%e! *inan$ial statements 4Fun$tional Cu!!en$, is the $u!!en$, o* a h,%e!in*lationa!, e$onom,5 11.0 N"t:"r:Pr"it Or$ani;ati"ns 111 )es$!ibe the natu!e o* business t!ansa$tions an& a$$ount *inan$ial !e%o!tin+ im%li$ations o*: 1111 Volunta!, health an& el*a!e o!+ani8ations 4V@O5 1112 @os%itals an& othe! health $a!e o!+ani8ations 111. Colle+es an& Dni(e!sities 111 Othe! not6*o!6%!o*it o!+ani8ations su$h as $hu!$hes" museums" *!ate!nit," asso$iation" et$ 1%.0 G"ern*ent A!!"#ntin$ : Genera7 F#n' 121 )es$!ibe the basi$ $on$e%ts in ;o(e!nment A$$ountin+ an& its bu&+et %!o$ess 122 -!e%a!e ou!nal ent!ies 4oo?s o* National ;o(e!nment A+en$,5
1(.0 Other Se!ia7 T"i!s 1.1 A$$ount *o! insu!an$e $ont!a$ts b, insu!e!s 4-F7# 5 1.2 A$$ount *o! buil&" o%e!ate an& t!ans*e! 4IF7IC 125 1.. A$$ount an& !e$o!& business t!ansa$tions a%%l,in+ the IF7# *o! #MEs 1-.0 C"st A!!"#ntin$ 11 ob O!&e! Costin+ 111 7e$o!& t!ansa$tions usin+ 'ob o!&e! $ostin+ %!o$e&u!es 112 Com%ute Cost o* ;oo&s Manu*a$tu!e& an& #ol& 11. A$$ount *o! s%oile& units an& !eo!? $osts 11 Allo$ate se!(i$e &e%a!tment $osts 12 -!o$ess Costin+ #,stem 121 )ete!mine $ost o* %!o&u$tion un&e! FIFO an& ei+hte& A(e!a+e Metho& 122 A$$ount *o! s%oila+e 4lost units5 both *o! no!mal an& abno!mal s%oila+e 1. a$?*lush / IT Costin+ #,stem 1.1 A%%l, ust6in6Time $ostin+ s,stem 1.2 Com%ute the amount o* mate!ials to be ba$?*lushe& *!om 7I- to *inishe& +oo&s 1.. -!e%a!e the 'ou!nal ent!ies 1 A$ti(it, ase& Costin+ #,stem 11 A%%l, A$ti(it, ase& Costin+ #,stem 12 Com%ute total manu*a$tu!in+ $ost an& $ost %e! unit usin+ AC 1< oint an& ,6-!o&u$ts 1<1 Com%ute an& allo$ate 'oint 4$ommon5 $osts at the %oint o* slit6o** 1<2 A$$ount *o! $osts a*te! s%lit6o** 1<. )ete!mine total $ost an& +!oss %!o*it 1< Com%ute an& a$$ount *o! b,6%!o&u$ts 1<< Allo$ate 'oint $osts to %!o&u$ts usin+ ma!?et6(alue at s%lit6o** a%%!oa$h" net !eali8able (alue metho&" %!o&u$tion out%ut metho& an& ei+hte& a(e!a+e metho& 1< -!e%a!e 'ou!nal ent!ies 1 #tan&a!& Costin+ 11 Com%ute )i!e$t Mate!ials" )i!e$t abo! an& Fa$to!, o(e!hea& usin+ #tan&a!& Costin+ 12 A$$ount *o! the Va!ian$e o* A%%lie& (s A$tual Cost o* )i!e$t Mate!ials" abo! an& Fa$to!, o(e!hea& 1. -!e%a!e 'ou!nal ent!ies usin+ stan&a!& $ostin+ 1B #e!(i$e Cost Allo$ation 1B1 Allo$ate se!(i$e &e%a!tment $osts usin+ 4a5 &i!e$t metho&" 4b5 ste%6&on metho& an& 4$5 !e$i%!o$al metho& 1.0 U'ates "n Se!ia7 C"n!erns 1<1 1<2 1<. 1< 1<<
;lobali8ation )i+ital an& In*o!mation Te$hnolo+, ;o(e!nan$e an& Ethi$s 7e+ulato!, 7e3ui!ements an& Consi&e!ations E**e$ti(e usiness Communi$ation
TOTAL
ABLE OF SPECIFICATIONS ANCIAL ACCOUNTING AND REPORTING ECTIVE MAY 2019 EXAMINATION
LEDGE2 S=ILLS2 VALUES APPLICATION +(0?,
DEGREE OF INDEPEN
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