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Component
Component
Component
(a) Explain the role of various financial assets,
markets and institutions in assisting
organisations to manage their liquidity
position and to provide an economic
return to providers of liquidity
(b) Explain the role of commercial banks in the
process of credit creation and in
determining the structure of interest rates
and the roles of the central bank in
ensuring liquidity
(c) Explain the role of the foreign exchange
market in facilitating trade and in setting
exchange rates
2.
3.
Component
Component
Component
(a) Prepare the books of prime entry
(b) Apply the principles of double- entry
bookkeeping
Lead
1. Prepare the trial balance and journal
entries for the correction of errors
Component
(a) Prepare nominal ledger accounts
(b) Prepare the trial balance
(c) Explain the nature of accounting
errors
(d) Prepare accounting entries for the
correction of errors
entries
for
Component
(a) Prepare accounting entries
accruals and prepayments
for
entries
for
(a) Prepare
accounts
manufacturing
Learning outcomes
Lead
Component
B. Costing - 25%
Learning outcomes
Lead
1. Demonstrate cost identication and
classication
Component
(a) Explain the classification of costs in
relation to output
of
Learning Outcomes
Lead
1.
Component
(a) Explain why organisations prepare
forecasts and plans
Learning outcomes
Lead
1. Demonstrate the impact of risk.
Component
(a) Explain the concepts of risk and
uncertainty
(b) Demonstrate the use of expected
values and joint probabilities in
decision making
Component
Component
effectiveness
(a) Describe
the
features
competence framework
(b) Explain how the
framework underpins
development needs
of
competence
professional
and referral
of
of
Component
(a) Define leadership, management and
supervision
and
explain
the
distinction between these terms
(b) Explain the nature of management
(e) Explain
the
advantages
and
disadvantages
of
different
recruitment and selection methods
(f) Explain the practical steps that an
organisation may take to ensure the
effectiveness of its diversity and
equal opportunities policy
3.
4.
and
of
to
team
5.
6.
7.
of
Component
(a) Define law and distinguish types of law
Component
(a) Explain the meaning of an offer and
distinguish it from an invitation to treat
2. Content of contracts
C. Employment Law
Learning outcomes
Lead
1. Contract of employment
Component
(a) Distinguish between employees and the selfemployed
Component
(a) Explain the formation of the agency
relationship
Component
(a) Illustrate the difference between various
classes of shares, including treasury
shares, and the procedure for altering
class rights
(b) Explain allotment of shares, and
distinguish between rights issue and
bonus issue of shares
2. Loan capital
Component
(a) Explain the role of directors in the
operation of a company, and the different
types of directors, such as executive/ nonexecutive directors or de jure and de facto
directors
G. Insolvency Law
Learning outcomes
Lead
1. Insolvency and administration
Component
(a) Explain the meaning of and procedure
involved in voluntary liquidation, including
members and creditors voluntary
liquidation
(b) Explain the way in which of an
administrator may be appointed, the
effects of such appointment, and the
powers and duties an
administrator
Component
(a) discuss the different purposes of
organisations
(b) explain the different structures
organisations may adopt
(c) explain the various forms and functional
boundaries of the organisation including
externalisation, shared service centers(SSC)
and business process outsourcing (BPO).
Component
(a) Explain the informal organisation and its
relationship with the formal organisation
Component
(a) Define, understand and
qualitative characteristics
(b) Define, understand
accounting concepts
and
apply
apply
Component
(a) Explain the difference
capital and revenue items
between
in
the
final
Component
(a) Explain the purpose of disclosure
notes
(b) Draft disclosure notes for tangible
non-current assets, provisions and
inventory
4. Incomplete records
Component
(a) Identify subsidiaries within a group
structure
(b) Describe the components of and
prepare a consolidated statement
of financial position and statement of
profit or loss
(c) Calculate goodwill
2. Associates
Component
provided
by
Component
(f) Describe
how
personal
and
organizational policies and values
promote behaviour
fundamental
ethical
the
role
Component
of
corporate
of
(a) Identify
external
processes undertaken
(b) Explain the
presentation
meaning
of
fair
demands
of
Component
(a) apply marginal (or variable) throughput
absorption accounting methods in respect
of profit reporting and inventory valuation
(b) compare and contrast activity-based costing
with traditional marginal and absorption
costing methods
(c) apply standard costing methods including
the reconciliation of budgeted and actual
profit margins, distinguishing between
planning and operational variances
(d) interpret material, labour, variable
overhead, fixed overhead and sales
variances
(e) explain the advantages and disadvantages
of standard costing in various sectors and its
appropriateness in the contemporary
business environment
(f) explain the impact of JIT manufacturing
methods on cost accounting methods.
B. Budgeting (25%)
Learning outcomes
Lead
1. explain the purposes of forecasts, plans
and budgets.
Component
(a) explain the purpose of budgets, including
planning, communication, coordination,
motivation, authorization, control and
evaluation, and hoe these may conflict.
Component
(a) explain the principles of decision making,
including the identification and use of
relevant cash flows and qualitative factors
(b) explain the conflicts between cost
accounting for profit reporting and
inventory valuation, and information
required for decision making
Component
(a) discuss the nature of risk and uncertainty
and the attitudes to risk by decision makers
(b) analyse risk using sensitivity analysis,
expected values, standard deviations and
probability tables
(c) apply decisions models to deal with
uncertainty in decision making.
Component
(a) explain the need for the regulation of the
financial reporting information of
incorporated entities and the key elements
of an ethical regulatory environment for
such information
(b) explain the roles and structures of the key
bodies involved in the regulation of financial
reporting information
(c) explain the scope of IFRS and how they are
developed
Component
(a) describe the main elements of financial
statements prepared in accordance with IFRS
Production of the:
Component
(a) describe the sources of short-term finance
and methods of short-term cash investment
available to an entity.
Component
(a) Describe the purpose (economic, social
etc) of taxation in a modern economy
(a) Explain and apply the features of the selfassessment system as it applies to
individuals
(b) Explain and apply the features of the selfassessment system as it applies to
companies, including the use of iXBRL
4. The time limits for the submission of
information, claims and payment of
tax, including payments on account
Component
(a) Explain how the residence of an individual
is determined
Component
(a) Describe the scope of capital gains tax
D. Inheritance Tax
Learning outcomes
Lead
1. The basic principles of computing
transfers of value
Component
(a) Identify the persons chargeable and
responsible for the payment of
inheritance taxes
Component
(a) Recognise when an accounting period
starts and when an accounting period
finishes
(b) Recognise the expenditure that is
allowable in calculating the tax-adjusted
trading profit
(c) Recognise the relief which can be obtained
for pre-trading expenditure
Component
Component
(a) demonstrate the value of information
systems in organisations
Component
(a) demonstrate the contribution of operations
management to the efficient production
and delivery of fit-for-purpose goods and
services
(b) demonstrate how supply chains can be
established and managed.
C. Marketing (25%)
Learning outcomes
Lead
1. demonstrate the purpose of the
marketing function and its relationships
with other parts of the organisation.
Component
(a) apply the marketing concept and principles
in a range of organizational contexts
(b) apply the elements of the marketing mix.
2. apply tools and techniques to formulate (a) apply the main techniques of marketing
the organisations marketing strategies,
(b) explain the role of emerging technologies
including the collection, analysis and
and media in marketing.
application of Big Data.
Component
(a) evaluate activity-based management
(b) evaluate total quality management (TQM)
techniques
(c) discuss techniques for enhancing long-term
profits
(d) apply learning curves to estimate time and
cost for activities, products and services.
Target costing and the determination of target costs from target prices.
Value analysis and quality function deployment
Direct and activity-based cost methods in tracing costs to cost objects, such
as customers or distribution channels, and the comparison of such cost with
The theory of transfer pricing, including perfect, imperfect and no market for
the intermediate good.
Negotiated, market, cost-plus and variable cost-based transfer prices. Dual
transfer prices and lump sum payments as means of addressing some of the
issues that arise.
Component
(a) analyse information for use in long-term
decision making (including consideration of
tax, inflation and other factors)
(b) discuss the financial consequences of
dealing with long-run projects, in particular
the importance of accounting for the time
value of money
(c) evaluate investment appraisal techniques
and explain their results.
Relevant cash flows taking account of tax, inflation and other factors, and the
use of perpetuities to derive final project value where appropriate.
The identification and integration of non-financial factors in long-term
decisions.
Component
(a) apply sensitivity analysis
(b) analyse risk and uncertainty.
Quantification of risk
Probabilistic models and interpretation of distribution of project outcomes.
Decision trees.
Bayes Theorem.
Decision making in conditions of uncertainty.
Component
(a) Identify and describe the objective and
general principles of external audit
engagements
(b) Discuss the concepts of accountability,
stewardship and agency
(c) Describe the types of assurance
engagement
2. External audits
3. Corporate governance
Component
(a) Discuss the requirements of professional ethics in
relation to the acceptance of new audit
engagements
C. Internal Control
Learning outcomes
Lead
Component
3. Tests of control
D. Audit Evidence
Learning outcomes
Lead
1. Financial statement assertions and
audit evidence
Component
(a) Explain the assertions contained in the
financial statements.
Component
1. Subsequent events
2. Written representations
Component
(a) discuss the concept of strategy and the
rational/format approach to strategy
development
(b) compare and contrast alternative
approaches to strategy development
(c) explain the approaches to achieving
sustainable competitive advantage.
Component
(a) discuss the concepts of leadership and
management
(b) discuss HRM approaches for managing and
controlling individuals performance.
Component
(c) evaluate the issues associates with building,
leading and managing effective teams
(d) discuss the effectiveness of handling
relationships between the finance function
and other parts of the organization and the
supply chain
(e) discuss the effectiveness of handling
relationships between the finance function
and external experts and stakeholders.
Component
(a) discuss the concepts of organizational
change
(b) recommend techniques to manage
resistance to change.
Component
(a) Discuss the relationship between financial
objectives, corporate objectives and
corporate strategy and the conflicts between
stakeholder objectives
(b) Discuss the nature and importance of Value
for Money as an objective in not-for-profit
organisations
(a) discuss the characteristics of different types of
long-term debt and equity finance
(b) discuss the markets for and methods of raising
long-term finance including Islamic finance.
Component
(c) produce primary financial statements for a
group of entities in accordance with
relevant international accounting standards
(d) discuss the need for and nature of
disclosure of interests in other entities
(e) discuss the provisions of relevant
international accounting standards in
respect of the recognition and
measurement of revenue, leases, financial
instruments, provisions, share-based
payments and deferred taxation
(f) produce the accounting entries, in
accordance with relevant international
accounting standards
(g) discuss the ethical selection and adoption of
relevant accounting policies and accounting
estimates.
Production of:
consolidated statement of comprehensive income
consolidated statement of financial position
consolidated statement of changes in equity
consolidated statement of cash flows
Including the adoption of both full consolidation and the principles of equity
accounting, in accordance with the provisions of IAS 1, IAS 27, IAS 28, IFRS 3,
IFRS 10 and IFRS 11.
The need for and nature of disclosures of contingent assets and liabilities, in
accordance with IAS 37.
Recognition and measurement of:
revenue in accordance with IAS 18 and the provisions of the framework.
financial instruments, in accordance with IAS 32 and IAS 39 and IFRS 9
(excluding hedge accounting)
provisions, in accordance with IAS 37
share-based payments, in accordance with IFRS 2
provision for deferred taxation, in accordance with IAS 12.
Calculate basic and diluted earnings per share, in accordance with IAS 33.
Component
(a) calculate ratios relevant for the assessment
of an entitys profitability, financial
performance, financial position and
financial adaptability
(b) evaluate the financial performance,
financial position and financial adaptability
of an entity based on the information
contained in the financial statements
provided
(c) advise on action that could be taken to
improve an entitys financial performance
and financial position.