f3int Syll Sg

8/8/2019 f3int Syll Sg

1/13

1

nting

r 2010 and

to help

with planning study and to provide detailed

d in

tion session.

AND

apers

s

eding o

nne

nce

. Thes

r paper

h other

such as links existing between the accounting an

inks between these are sho

as dotted line arrows. This diagram indicates whe

knowledgprevious

Overall aim of the syllabus

of the

the

he paper.

ral mai

s and study

guide into discrete sections.

Relational diagram of the main capabilities

This diagram illustrates the flows and links between

the main capabilities (sections) of the syllabus and

should be used as an aid to planning teaching and

learning in a structured way.

Syllabus rationale

the syllabus is

ties are linked.

The rationale also explains in further detail what the

ination intends to assess and why.

This shows the breakdown of the main capabilities

abus into subject areas. This is

the blueprint for the detailed study guide.

ing the syllabus

This section briefly explains the structure of the

ssed.

at students, tuition

hould use as the basis of

ials.

the detail of the

ely identifies what

nation session.

tion and

ivided into sections

lities identified in theivided into subject

es included

yllabus. Subject areas are broken

down into sub-headings which describe the detailed

ssed in examinations.

may require students to

the broad intellectual level at

monstrated

shers: BPP

ishing.

Both these publishers base their

study texts on the detailed contents of the study

guides as published by ACCA. ACCA takes no

editorial responsibility for the detailed content of

these study texts although ACCA examiners will

annually review their content for general

appropriateness and relevance in supporting

effective study towards ACCA examinations.In addition ACCA examiners will recommend other

Financial Accou(INT) (F3) June &Decembe

June 2011This syllabus and study guide is designed

information on what could be assesse

any examina

THE STRUCTURE OF THE SYLLABUS

STUDY GUIDE

Relational diagram of paper with other p

This diagram shows direct and indirect link

between this paper and other papers prec r

following it. Some papers are directly underpi d This is the main document th

by other papers such as Advanced Performa

Management by Performance Management e their studies, instruction and mater

links are shown as solid line arrows. Othe s Examinations will be based on

only have indirect relationships with eac

d could be assessed in any exami

auditing papers. The l wn The study guide is a precise reflec

re breakdown of the syllabus. It is d

you are expected to have underpinning e based on the main capabiand where it would be useful to review

learning before undertaking study.

This explains briefly the overall objective

paper and indicates in the broadest sense

capabilities to be developed within t

Main capabilities

This papers aim is broken down into seve n

capabilities which divide the syllabu

This is a narrative explaining how

structured and how the main capabili

exam

Detailed syllabus

(sections) of the syll

Approach to examin

examination and how it is asse

Study Guide

providers and publishers s

study guide which comprehensiv

syllabus. These sections are d

areas which relate to the sub-capabiliti

in the detailed s

outcomes that could be asse

These outcomes are described using verbs

indicating what exams

demonstrate, and

which these may need to be de

(*see intellectual levels below).

Reading lists

ACCA has two official publi

Learning Media and Kaplan Publ


2/13

2

dents ma

the

ant articles will also b

tant.

broaden

d professiona

on their way

The specific capabilities within the detailed

ssessed at one

e levels:

relate to the

owledge

onal le

ide

, or

marked

nch an ar

. Howe

nowledge

ule and

the Professional level, some lower level

ue to be assessed as the student

gh each module and level. This

re will be a

casionally

sed a

G HOURS

The ACCA qualification does not prescribe or

recommend any particular number of learning hours

for examinations because study and learning

patterns and styles vary greatly between people and

organisations. This also recognises the wide

diversity of personal, professional and educational

circumstances in which ACCA students find

themselves.

23 and 35 main

on the nature of

the subject and how these areas have been broken

E

.

The Fundamentals level examinations contain

100% compulsory questions to encourage

readth of each

d by equivalent

puter based

re all paper based

-hour papers. The structure of papers varies

from ten questions in the Corporate and Business

rk questions in

ividual questions

between

10 and 30 marks.

all three-hour

paper based examinations, all containing twoy, but there will be

apers, ACCA has

d planning time.

t the beginning of

allow candidates to

lanning their

efore they start writing in their answer

books. This time should be used to ensure that all

the information and exam requirements are properly

read and understood.

During reading and planning time candidates may

only annotate their question paper. They may not

write anything in their answer booklets until told to

do so by the invigilator.

text books where appropriate, which stu y Each syllabus contains between

read in order to widen their reading beyond

approved study texts. Relev e

published instudent accoun

INTELLECTUAL LEVELS

The syllabus is designed to progressively

and deepen the knowledge, skills an l between modules and leve

values demonstrated by the student

through the qualification.

syllabuses and study guides are a of syllabus.

three intellectual or cognitiv

Level 1: Knowledge and comprehension

Level 2: Application and analysisLevel 3: Synthesis and evaluation

Very broadly, these intellectual levels three

three cognitive levels at which the Kn

module, the Skills module and the Professi vel Law (F4) paper to four 25 ma

are assessed.

Each subject area in the detailed study gu

included in this document is given a 1, 2

3 superscript, denoting intellectual level, at The Professional level papers are

the end of each relevant line. This gives aindication of the intellectual depth at whi

ation

ea

ver,

sections. Section A is compulsor

some choice offered in Section B.

For all three hour examination p

introduced 15 minutes reading an

could be assessed within the examin

while level 1 broadly equates with the K

module, level 2 equates to the Skills mod

level 3 to

skills can contin

progresses throu

reflects that at each stage of study the

This additional time is allowed a

each three-hour examination to

read the questions and to begin p

answers b

requirement to broaden, as well as deepen

capabilities. It is also possible that oc

some higher level capabilities may be asses t

lower levels.

LEARNIN

subject area headings depending

down.

GUIDE TO EXAM STRUCTUR

The structure of examinations varies within and

ls

candidates to study across the b

The Knowledge module is assesse

two-hour paper based and com

examinations.

The Skills module examinations a

Financial Management (F9). Ind

odule papers will attractwithin all Skills m


3/13

3

Section

with all

this

nts a choice of two fro

ns

ns, ea

Section B w

offer a choice of two from three questions totallin

attracting

arks.

ation

T

xaminat n

techniques,

s specified.

ssurance

d

le

ctly

ntially be

essions..

ulation issuedoth ber

st of thest fter. Please

per

(where relevant) for further information.

examinable even if the effectivedate is in the

hen

ly approved.

The term effective relates to when regulation or

legislation must be applied to an entity transactions

and business practices.

The study guide offers more detailed guidance on

the depth and level at which the examinable

documents will be examined. The study guide

should therefore be read in conjunction with theexaminable documents list.

Computer based examinations

nable for the June

le for corresponding

etween the start of

ginning of

are examinable for

the corresponding computer based examinations

between the start of the December examination

session and the beginning of June.

The Essentials module papers all have a A

containing a major case study question

m

ch

ill

Documents listed as being exami

examinations are also examinab

computer based examinations b

the June examination session and the be

December. Documents which

the December examinations are also examinable for

requirements totalling 50 marks relating to

case. Section B gives stude

three 25 mark questions.

Section A of each of the Options papers contai

50-70 compulsory marks from two questio

attracting between 25 and 40 marks.

g

30-50 marks, with each question

between 15 and 25 m

The pass mark for all ACCA Qualific

examination papers is 50%.

GUIDE TO EXAMINATION ASSESSMEN

ACCA reserves the right to examine anything

any econtained within the study guide at

session. This includes knowledge,

io

principles, theories, and concepts a

For the financial accounting, audit and a ,

law and tax papers except where indicate

otherwise, ACCA will publish examinab

documents once a year to indicate exa

what regulations and legislation could pote

assessed within identified examination s

For paper based examinations reg

legislation passedon or before 30 Septem

annually, will be assessed from June 1

r

following year to May 31 of the year a

refer to the examinable documents for the pa

Regulation issued or legislation passed in

accordance with the above dates may be

future.The term issued or passed relates to w

regulation or legislation has been formal


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4

Syllabus

un

fina

use of double-entry accounting techniques including

the preparation of basic financial statements

MAIN CAPABILITIES

uccessful completion of this paper, candidates

A. Explain the context and purpose of financial

ve characteristics of

d the fundamental

accounting

e use of double-entry and

D. Record transactions and events

including identifyingand correcting errors)

pare basic financial statements for

incorporated and unincorporated entities.

RELATIONAL DIAGRAM OF MAIN CAPABILITIES

AIM

To develop knowledge and understanding of the

derlying principles and concepts relating to

ncial accounting and technical proficiency in the F. Pre

On s

should be able to:

CR (P2)

reporting

B. Define the qualitatiFR (F7)

financial information an

bases of

C. Demonstrate th

accounting systems

E. Prepare a trial balance (

The context and purpose

of financial reporting

(A)

The qualitative characteristics

of financial information and

the fundamental bases of

accounting (B)

The use of double-entry and accounting systems (C)

Preparing a trial balance (E)

Recording

transactions

and events (D)

Preparing basic financial statements (F)

FA (F3)AB (F1)


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5

RATIONALE

counting,

s context and

teristics

syllabus th

ouble

ing, and

. The

e use of the trial balance a

how to identify and correct errors, and then the

ncial statements for incorporat

n

ncial reporting

of, financial

reporting

2.

lements of financial reports

ncial

es of

accounting

itative characteristics of financial

2. used in the preparation of

financial information

of double-entry and accounting

1. Double-entry book-keeping principles includ g

the maintenance of accounting records and

sources of information

2. Ledger accounts, books of prime entry, and

journals

3. Accounting systems and the impact of

information technology on financial reporting

D Recording transactions and events

1. Sales and purchases

. Cash

Tangible non-current assets

5. Depreciation

6. Intangible non-current assets and amortisation

prepayments

ayables

nd contingencies

10. Capital structure and finance costs

E Preparing a trial balance

lance

ion of errors

reconciliations

s

accounts

financial statements

1. Statements of financial position

Income statements and statements of

comprehensive income

3. Events after the reporting period

4. Accounting for partnerships

5. Statements of cash flows (excluding

partnerships)

6. Incomplete records

The syllabus for Paper F3, Financial Ac

introduces the candidate to the fundamentals of

financial accounting, explaining it

purpose with reference to qualitative charac

of useful financial information and to the

fundamental bases of accounting. The

concentrates in depth on the basics of the d

entry system and on recording, process

reporting business transactions and events

syllabus then covers th

en

4.-

nd

preparation of fina ed

a d unincorporated entities.

DETAILED SYLLABUS

A The context and purpose of fina

1. The reasons for, and objectives

Users and stakeholders needs

3. The main e

4. The regulatory framework

B The qualitative characteristics of fina

information and the fundamental bas

1. The qual

reporting

Alternative bases

C The use

systems

in

2

3. Inventory

7. Accruals and

8. Receivables and p

9. Provisions a

1. Trial ba

2. Correct

3. Control accounts and

4. Bank reconciliation

5. Suspense

F Preparing basic

2.


6/13

6

er-based

ons will

ill include both

tional elements.

The examination will consist of 40 two mark

questions, and 10 one mark questions.

APPROACH TO EXAMINING THE SYLLABUS

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-computa


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7

Study Guide

A PURPOSE OF

1. The reasons for and objectives of financial

) g,

ncial data.[1]

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 ilities, equity,

4.

) system

s of the International

Accounting Standards Committee Foundation

(IASCF), the International Accounting

Standards Board (IASB), the Standards

Advisory Council (SAC) and the International

Financial Reporting Interpretations Committee

(IFRIC).[1]

b) Understand the role of International Financial

Reporting Standards.[1]

HARACTERISTICS OF

N AND THE

ACCOUNTING

1. The qualitative characteristics of financial

understand and apply accounting

ts and qualitative characteristics:[1]

ir presentation

oing concern

ccruals

cy

e

Reliability

thful representation

stance over form

xii)Completeness

)Understandability

een qualitative

ternative bases used in the preparation of

a) Identify and explain the main characteristics of

ses e.g. historical cost,

ealisable value,

nd disadvantages

ting.[1]

c) Understand the provision of International

Financial Reporting Standards governing

financial statements regarding changes in

accounting policies.[1]

d) Identify the appropriate accounting treatment if

a company changes a material accounting

policy.[1]

THE CONTEXT AND

FINANCIAL REPORTING

reporting

a Define financial reporting recordin

analysing and summarising fina ii) G

iv) Consistensole trader, partnership, limited liabili

company.[1]

c Recognise the legal differences betw

trader, partnership and a limited liabcompany.[1]

le viii)Fai

) Identify the adv f

xiii)Comparability

xivtrader or partnership.[1]

e Understand the nature, principles an

financial reporting.[1]

ofxv) Business entity concept

2. Users and stakeholders needs

a Identify the users of financial statemen

state and differentiate between their

information needs.[1]

a Understand and identify the purpose

the main financial statements.[1]

) Define and identify assets, liab

revenue and expenses.[1]

The regulatory framework

a Understand the role of the regulatory

including the role

B THE QUALITATIVE C

FINANCIAL INFORMATIO

FUNDAMENTAL BASES OF

reporting

a) Define,

cepcon

i) Fa

iii) A

v) Materiality

vi) Relevanc

vii)

ix) Subx) Neutrality

xi) Prudence

b) Understand the balance betw

characteristics.[1]

2. Al

financial information

alternative valuation ba

replacement cost, net r

economic value.[1]

b) Understand the advantages a

of historical cost accoun


8/13

8

C LE-ENTRY AND

ACCOUNTING SYSTEMS

1 iples

including the maintenance of accounting

the main

m.[1]

b ifferen

luding:

od

oice,

emittance

advice, receipt.

c) tand and apply the concept of double-concept.[1]

d) g

)

ng

nisationa

es and deadlines.[1]

nsactionseceipts.[1]

ry and

nd their

b) Understand and illustrate the uses of journals

s into ledger

c) ven narrative

d) Illustrate how to balance and close a ledger

account.[1]

3. Accounting systems and the impact of

information technology on financial reporting

a) Understand the basic function and form of

accounting records in a typical manualsystem.[1]

tion and form of

accounting records in a typical computerised[1]

c) Compare manual and computerised accounting

dvantages of[1]

rated accounting

software packages.[1]

TIONS AND EVENTS

1. Sales and purchases

Record sale and purchase transactions inday books.[1]

b) Understand and record sales and purchase

d) Calculate sales tax on transactions and record

the consequent accounting entries.[1]

ed and discounts

[1]

b) Understand the need for a record of petty cash

Describe the features and operation of a petty

cash imprest system.[1]

using imprest and non-

e) Understand the importance of, and identify

controls and security over the petty cash

system.[1]

3. Inventory

a) Recognise the need for adjustments forinventory in preparing financial statements.[1]

THE USE OF DOUB

. Double-entry book-keeping princ

records and sources of information

a) Identify and explain the function of

data sources in an accounting syste

) Outline the contents and purpose of d

types of business documentation, inc

quotation, sales order, purchase order, go

t e) Understand the uses of integ

s

received note, goods despatched note, inv

statement, credit note, debit note, r[1]

D RECORDING TRANSAC

Undersentry accounting and the duality

Understand and apply the accountin

equation.[1]

e Understand how the accounting system

contributes to providing useful accounti

information and complies with orga

polici

l

f) Identify the main types of business trae.g. sales, purchases, payments, r

2. Ledger accounts, books of prime ent

journals

a) Identify the main types of ledger accounts and

books of prime entry, and understa

nature and function.[1]

and the posting of journal entrie

accounts.[1]

Identify correct journals from gi .[1] d) Account for petty cash

imprest methods.[1]

b) Understand the basic func

system.

systems.[1]

d) Identify advantages and disa

computerised accounting systems.

a)ledger accounts and in

returns.[1]

c) Understand the general principles of the

operation of a sales tax.[1]

e) Account for discounts allow

received.[1]

2. Cash

a) Record cash transactions in ledger accounts.

transactions.[1]

c)


9/13

9

b) Record opening and closing inventory.[1]

c) y the alternative methods of valuing

d) Understand and apply the IASB requirement

) ded in

.

d perio

) y usin

nd AVCO (average

cost).[1]

h ng concepts

entory.[1]

inventory valuation

methods on profit and on assets.[1]

4. current assets

a) urrent assets.[1]

current andent assets.[1]

c) n capital and

revenue items. [1]

d enue

) uisition

t assets.[1]

f) d ecord profits or losses on

e income

cluding part exchange

transactions.[1]

g) Record the revaluation of a non-current asset in

ledger accounts, the statement of

comprehensive income and in the statement of

financial position.[1]

h) Calculate the profit or loss on disposal of a

revalued asset.[1]

urrent asset balances and

movements are disclosed in financial[1]

j) Explain the purpose and function of an asset

gister.[1]

he purpose of

preciation using

educing balance methods.[1]

ces where different

would be

ropriate.[1]

expense and

are recorded in

counts.[1]

evalued non-

ansfer of excess

epreciation between the revaluation reserve

and retained earnings.[1]

ments to depreciation

g) Record depreciation in the income statement


ets and amortisation

se the difference between tangible and

intangible non-current assets.[1]

e assets.[1]

and treatment of

research costs and development costs in

accordance with International Financial


d) Calculate amounts to be capitalised as

development expenditure or to be expensed

from given information.[1]

e) Explain the purpose of amortisation.[1]

Identif

inventory.[1]

s re

for valuing inventories.[1]

e Recognise which costs should be inclu

valuing inventories [1]

f) Understand the use of continuous an

end inventory records.[1]d

g Calculate the value of closing inventor

FIFO (first in, first out) a

g

) Understand the impact of accounti

on the valuation of inv

i) Identify the impact of

Tangible non-

Define non-c

b) Recognise the difference betweennon-curr

Explain the difference betwee

) Classify expenditure as capital or rev

expenditure.[1]

e Prepare ledger entries to record the acq

and disposal of non-curren

Calculate an r

disposal of non-current assets in th

statement in

i) Illustrate how non-c

statements.

5. Depreciation

a) Understand and explain t

depreciation.[1]

b) Calculate the charge for de

straight line and r

c) Identify the circumstan

methods of depreciation

app

d) Illustrate how depreciation

accumulated depreciation

ledger ac

e) Calculate depreciation on a r

current asset including the tr

d

f) Calculate the adjustnecessary if changes are made in the estimated

useful life and/or residual value of a non-

current asset.[2]

and statement of

6. Intangible non-current ass

a) Recogni

b) Identify types of intangibl

c) Identify the definition


10/13

10

f) nd account for the charge for[1]

a) Understand how the matching concept applies

b) Identify and calculate the adjustments needed

aring

accrua

al

statements.

d entriesl or prepayment.[1]

) on profit

ets of accruals and prepayments. ]

) ables

yables.[1]

offering credit[1]

c) Understand the purpose of an aged receivab

its.[1]]

e) Prepare the bookkeeping entries to write off an

f) Record an irrecoverable debt recovered.[1]

g) ebts on

atement of

on.[1]

h) Prepare the bookkeeping entries to create and

adjust an allowance for receivables.[1]

i) Illustrate how to include movements in the

allowance for receivables in the income

statement and how the closing balance of the

allowance should appear in the statement offinancial position.[1]

n trade receivables[1]

k) Prepare, reconcile and understand the purpose

.[1]

Classify items as current or non-current

statement of financial

position.

es

f provision,

tingent asset.[1]

ssify items as

ties or contingent

Identify and illustrate the different methods of

accounting for provisions, contingent liabilities

d changes in

in provisions.[1]

inal accounts.[1]

apital structure and finance costs

ucture of a limited

mpany including: [1]

edeemable and

redeemable)

iii) Loan notes.

ents in the share capital and[1]

c) Identify and record the other reserves which

may appear in the company statement of


d) Define a bonus (capitalisation) issue and its

advantages and disadvantages.[1]

e) Define a rights issue and its advantages and

disadvantages.[1]

Calculate a

amortisation.

7. Accruals and prepayments

to accruals and prepayments.[1]

for accruals and prepayments in prep

financial statements.[1]

c) Illustrate the process of adjusting for

and prepayments in preparing financi[1]

ls a) Understand the definition o

contingent liability and con

) Prepare the journal entries and ledgerfor the creation of an accrua

e Understand and identify the impact

and net ass [1

8. Receivables and payables

a Explain and identify examples of receiv

and pa

b) Identify the benefits and costs offacilities to customers.

les 10. C

analysis.[1]

d) Understand the purpose of credit lim

irrecoverable debt.[1]

Identify the impact of irrecoverable d

the income statement and on the st

financial positi

share premium accounts.

j) Account for contras betwee

and payables.

of supplier statements

l)

liabilities in the[1]

9. Provisions and contingenci

b) Distinguish between and cla

provisions, contingent liabiliassets.[1]

c)

and contingent assets.[1]

d) Calculate provisions an

provisions.[1]

e) Account for the movement

f) Report provisions in the f

a) Understand the capital str

liability co

i) Ordinary shares

ii) Preference shares (r

ir

b) Record movem


11/13

11

f) bonus

) issue in the statement of[1]

g) Record and show the effects of a rights issue in]

h) nd the

in ledger[1]

the statement of

equity.[1]

E

a) Identify the purpose of a trial balance.[1]

b er balances into a trial balance.[1

ng trial balance.[1]

d) stand the limitations of a

trial balance.[1]

2.

a) may occur in

[1]

c) ational

verning

ents regarding material errors

stment.[1]

s.[1]

e) Calculate and understand the impact of errors

on the income statement, statement of

comprehensive income and statement of


3. Control accounts and reconciliations

a) Understand the purpose of control accounts foraccounts receivable and accounts payable.[1]

s relate to the

double-entry system.[1]

Prepare ledger control accounts from given

d) Perform control account reconciliations for

counts payable.[1]

be highlighted by

ing a control account reconciliation.[1]

and correct errors in control accounts[1]

4. Bank reconciliations

ose of bankreconciliations.[1]

b) Identify the main reasons for differences

and the bank

statement.[1]

ook errors and/or omissions.[1]

bank reconciliation statements.[1]

bank statement and cash book balances.[1]

f) Identify the bank balance to be reported in the

e of a suspense

account.[1]

b) Identify errors leading to the creation of a

suspense account.[1]

c) Record entries in a suspense account.[1]

d) Make journal entries to clear a suspense

account.[1]

Record and show the effects of a

(capitalisation

financial position.

the statement of financial position.[1

Record dividends in ledger accounts a

financial statements.[1]

accounts receivable and ac

i) Calculate and record finance costs

accounts and the financial statements.

j) Identify the components of

changes in

E PREPARING A TRIAL BALANC

1. Trial balance

) Extract ledg ]

c) Prepare extracts of an openi

Identify and under

Correction of errors

Identify the types of error which

bookkeeping systems.[1]

b) Identify errors which would be highlighted by

the extraction of a trial balance.

Understand the provision of Intern

Financial Reporting Standards go

financial statem

which result in prior period adju

d) Prepare journal entries to correct error

b) Understand how control account

c)

information.[1]

e) Identify errors which would

perform

f) Identify

and ledger accounts.

a) Understand the purp

between the cash book

c) Correct cash b

d) Prepare

e) Derivefrom given information

final accounts.[1]

5. Suspense accounts

a) Understand the purpos


12/13

12

F G BASIC FINANCIAL

STATEMENTS

a) nting equation and

business entity convention underlie the

ion.[1]

b reserves.[1]

) mpany

tion.[1]

ncial

from given information.

tained earnin sany statement of financia

2 atements and statements of

comprehensive income

a) an income statement and

from given

b) Understand how accounting concepts apply to

) profit

comprehensive

.[1]

d diture in

e) Record income tax in the income statement of

ior year.[1]

f) Understand the interrelationship between th

statement of financial position, income

statement and statement of comprehensive

income. [1]

g) Identify items requiring separate disclosure on

the face of the income statement.[1]

3. Events after the reporting period

he reporting period in

ce with International Financial

g or non-adjusting.[1]

Distinguish between how adjusting and non-

nts are reported in the financial

statements.[1]

hips

and identify the typical content of

hip agreement, including profit-

rms.[1]

[1]

ii) Current accounts

shares of

d) Account for guaranteed minimum profit

partners drawings.[1]

f) Calculate and record interest on drawings.[1]

g) Calculate and record interest on capital.[1]

er salaries. [1]

current account.[1]

j) Prepare an extract of a capital account.[1]

it, and statement of

inancial position of a partnership.[1]

l) Define goodwill, in relation to partnership

accounts.[1]

m) Identify the factors leading to the creation of

goodwill in relation to partnership accounts.[1]

n) Calculate the value of goodwill from giveninformation.[1]

PREPARIN

1. Statements of financial position

Recognise how the accou

statement of financial posit

) Understand the nature of

c Identify and report reserves in a co

statement of financial posi

d) Prepare extracts of a statement of fina

position [1]

e) Understand why the heading reappears in a comp

gl

position.[1]

. Income st

Prepare extracts of

statement of comprehensive income

information.[1]

revenue and expenses.[1]

c Calculate revenue, cost of sales, gross

profit for the year, and total

income from given information

,

) Disclose items of income and expen

the income statement. [1]

a company including the under and

overprovision of tax in the pr

e including division of prof

f

a) Define an event after t

accordan


b) Classify events as adjustin

c)

adjusting eve

4. Accounting for partners

a) Understand

a partners

sharing te

b) Understand the nature of:

i) Capital accounts

iii) Division of profits

c) Calculate and record the partners

profit/losses.[1]

shares.[1]

e) Calculate and record

h) Calculate and record partn

i) Prepare an extract of a

k) Prepare extracts of the income statement,


13/13

13

ips may include the

5. Statements of cash flows (excluding

a) tween profit and cash flow.[1

to

c) Recognise the benefits and drawbacks to users

atement of

h flows. [1]

d f transactions on cash

e) r the stateme

activities

h flows from investing activities

iii) Cash flows from financing activities

f)

from statements of cash flo s[1]

h given transactions in a

6

a) Understand and apply techniques used in

incomplete record situations: [1]

i) Use of accounting equation

ii) Use of ledger accounts to calculate missing

figures

iii) Use of cash and/or bank summaries

iv) Use of profit percentages to calculate

missing figures.

READING LIST

010

official publishers:

ing Media

ct number: +44(0)20 8740 2222

Note: Questions on partnersh

effect of admission of new partners

partnerships)

Differentiate be ] BPP Learn

b) Understand the need for management

control cash flow.[1]

of the financial statements of a st

cas

) Classify the effect o

flows.[1]

Calculate the figures needed fo nt

of cash flows including:[1]

i) Cash flows from operating

ii) Cas

Calculate the cash flow from operating

activities using the indirect and direct

method.[1]

g) Prepare extracts wfrom given information.

) Identify the treatment of

companys statement of cash flows.[1]

. Incomplete records

December 2

ACCAs

Conta

Website: www.bpp.com

Kaplan Publishing

ct number: +44(0)118 989 0629

k

Conta

Website: www.kaplanpublishing.co.u

ing:

(ATC) Internationall.com

Alternative read

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Website: www.atc-global.com

(0)1344 751674

Website: www.emilewoolfpublishing.com

Emile Woolf Publishing Limited

Contact number: +44

ntact number: +44 (0)845 257 5729

Website: www.GetThroughGuides.com

Get Through Guides

Co

June 2011

The reading list for June 2011 will be published in

October 2010.
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