CMA (US), CSCA (US), Dip IFRS, AFA (UK), MIPA (Aus), M.Com, M.B.A
Analysing financial statements is a key area for the Financial Reporting (FR) exam, and is the area of the syllabus that is used to help prepare FR candidates for the Strategic Business Reporting (SBR) exam. It is also the area of the syllabus where performance varies most between students; a well prepared candidate can often score extremely high, in contrast […]
For some ACCA candidates, specific IFRS® standards are more favoured than others. IAS® 37 appears to be less popular than other standards because, usually, answers to Financial Reporting (FR) questions required a balanced discussion of whether criteria are met, as opposed to calculating numbers. However, IAS 37 is often a key standard in FR exams, and candidates must be prepared
IAS 37 – Provisions, contingent liabilities and contingent assets Read More »
A key part of the Financial Reporting exam is the ability to analyse a set of financial statements. The statement of cash flows is one of the primary financial statements, and Financial Reporting candidates must be able to explain the performance of an entity based on all of the financial statements including the cash flows given. To do this, candidates must
Analysing a statement of cash flows Read More »
For ACCA candidates studying Financial Reporting (FR), consolidated financial statements are a key topic. A central part of this syllabus area is accounting for the acquisition of a subsidiary which will test the concept of fair value; this is the value that the consideration paid for the subsidiary must be recorded. In addition to this, the assets, liabilities and contingent
The use of fair values in the goodwill calculation Read More »
International Financial Reporting Standard (IFRS®) 9 Financial Instruments is a complex standard, especially for users and preparers of financial statements. It is therefore no surprise that ACCA candidates also find it complex. Indeed, there is a well-known quote from a previous Chair of the International Accounting Standards Board (the Board) who said: ‘If you understand this [standard], you haven’t read
Financial instruments Read More »
A building renovation can be tricky and it can be overwhelming: at the beginning, you definitely know that some parts of the building need to be upgraded, but you can often find more and more that needs to be fixed after the renovation begins. Often, the project can take longer than you ever anticipated, and you change much more of
Extreme makeover – IASB edition Read More »
The Sustainable Development Goals (SDGs) are 17 goals tackling major world issues agreed by 193 UN member states to be achieved by 2030. These goals include zero hunger, decent work and economic growth, and reduced inequalities. The SDGs apply to all countries and set the priorities for governments. Demographic and social change, shifts in global economic power, urbanisation, climate change,
The Sustainable Development Goals Read More »
This article is structured in two parts – first, it considers what might be included as the capital of a company and, second, why this distinction is important for the analysis of financial information. More complexity Trends This article is useful to those candidates studying for Strategic Business Reporting. It is structured in two parts: first, it considers what might
The definition and disclosure of capital Read More »
This article examines the issues raised by IASB research that referred to a KASB study into whether IAS 21 needs amending. Long-term liabilities Average exchange rate The International Accounting Standards Board (IASB) initiated a research project that examined the previous research conducted by the Korean Accounting Standards Board (KASB). This research considered whether any work on IAS 21, The Effects of
IAS 21 – does it need amending? Read More »
The effects of clutter have typically come in for little consideration by the preparers of annual reports. However, the phenomenon is increasingly under discussion, with initiatives recently launched to combat it. It is unusual to think about the effects of ‘clutter’ but, increasingly, this phenomenon is being discussed. One prominent website describes clutter as follows: ‘Clutter invades your space and