The syllabus objective:
The study guide is designed to help with planning study and to provide detailed information on what could be assessed in any examination session. It offers detailed guidance on the depth and level at which the examinable documents will be examined.
The examination is a three-hour fifteen minute paper. ACCA has removed the restriction relating to the 15 minutes reading and planning time, so that while the time considered necessary to complete this exam remains at 3 hours, candidates may use the additional 15 minutes as they choose. ACCA encourages students to take time to read questions carefully and to plan answers but once the exam time has started, there are no additional restrictions as to when candidates may start.
All questions will attract 25 marks.
- Question one will involve the preparation of one or more of the consolidated financial statements.
- Question two will often be related to a scenario in which questions arise regarding the appropriate accounting treatment and/or disclosure of a range of issues
- Question three will usually focus more specifically on the requirements of one specific IFRS.
- Question four will usually consist of a scenario in which the candidate is given a series of queries from a superior relating to the financial statements.
- Complex group structures, including sub- subsidiaries or mixed groups and foreign subsidiaries
- Step acquisitions, partial disposal of subsidiaries and group re-constructions
- Financial statements of banks and similar financial institutions
- Preparation of statements of cash flow (single company and consolidated)
- Preparation of interim financial statements
- Accounting for insurance entities
- International financial reporting exposure drafts and discussion papers
- The international public sector perspective
- Multi-employer benefit schemes
- Information reflecting the effects of changing prices and financial reporting in hyperinflationary economies