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Tài liệu ACCA mới nhất từ BPP môn P2,File PDF dạng Text cực đẹp.
Corporate Reporting Paper P2 (International) Course Notes ACP2CN07 (INT) (i) BPP provides revision courses, question days, mock days and specific material to assist you in this important phase of your studies. P2 Corporate Reporting (International) Study Programme Page Introduction to the paper and the course . (ii) 1 The financial reporting framework 1.1 2 Professional and ethical duty of the accountant 2.1 3 Home study chapter: Environmental and social reporting . 3.1 4 Non-current assets 4.1 5 Employee benefits . 5.1 6 Income taxes . 6.1 End of Day 1 – refer to Course Companion for Home Study Progress test 1 7 Financial instruments . 7.1 8 Share-based payment . 8.1 9 Provisions, contingencies and events after the balance sheet date 9.1 10 Related parties 10.1 11 Leases . 11.1 End of Day 2 – refer to Course Companion for Home Study Progress test 2 Course exam 1 12 Revision of basic groups . 12.1 13 Complex groups 13.1 14 Changes in group structures . 14.1 15 Continuing and discontinued interests . 15.1 End of Day 3 – refer to Course Companion for Home Study Progress test 3 16 Foreign transactions and entities . 16.1 17 Group cash flow statements 17.1 18 Performance reporting . 18.1 19 Current developments . 19.1 20 Reporting for specialised entities . 20.1 21 Home study chapter: Implications of changes in accounting regulation on financial reporting 21.1 End of Day 4 – refer to Course Companion for Home Study Progress test 4 Course exam 2 22 Answers to Lecture Examples . 22.1 23 Question and Answer bank . 23.1 24 Appendix: Pilot Paper questions 24.1 Don't forget to plan your revision phase! • Revision of syllabus • Testing of knowledge • Question practice • Exam technique practice INTRODUCTION (ii) Introduction to Paper P2 Corporate Reporting (International) Overall aim of the syllabus To apply knowledge, skills and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations. The syllabus The broad syllabus headings are: A The professional and ethical duty of the accountant B The financial reporting framework C Reporting the financial performance of entities D Financial statements of groups of entities E Specialised entities F Implications of changes in accounting regulation on financial reporting G The appraisal of financial performance and position of entities H Current developments Main capabilities On successful completion of this paper, candidates should be able to: • Discuss the professional and ethical duty of the accountant • Evaluate the financial reporting framework • Advise on and report the financial performance of entities • Prepare the financial statements of groups of entities in accordance with relevant accounting standards • Explain report issues relating to specialised entities • Discuss the implications of changes in accounting regulation on financial reporting • Appraise the financial performance and position of entities • Evaluate current developments Links with other papers This diagram shows where direct (solid line arrows) and indirect (dashed line arrows) links exist between this paper and other papers that may precede or follow it. The financial reporting syllabus assumes knowledge acquired in paper F3 Financial Accounting and Paper F7 Financial Reporting and develops and applies this further and in greater depth. Advanced Audit & Assurance (P7) Corporate Reporting (P2) Financial Reporting (F7) Financial Accounting (F3) INTRODUCTION (iii) Assessment methods and format of the exam Examiner: Graham Holt The examination is a three-hour paper. Requirements may ask for reports to be prepared, as well as for numbers to be calculated. Format of the Exam Marks Section A Compulsory Section A will be scenario-based and will deal with the preparation of consolidated financial statements including group cash flow statements and ethical and social issues in financial reporting. 50 Section B Two from three 25-mark questions Section B will normally comprise two questions which will be scenario or case study-based (covering a range of standards and syllabus topics) of which one question will usually be of an essay style, often encompassing current developments in corporate reporting. 50 100 INTRODUCTION (iv) Course Aims Achieving ACCA's Study Guide Outcomes A The professional and ethical duty of the accountant A1 Professional behaviour and compliance with accounting standards Chapter 1 A2 Ethical requirements of corporate reporting and the consequences of unethical behaviour Chapter 1 A3 Social responsibility Chapter 1 B The financial reporting framework B1 The contribution and limitations of financial statements in meeting users' and capital markets' needs Chapter 2 B2 The applications, strengths and weaknesses of an accounting framework Chapter 2 B3 Critical evaluation of principles and practices Chapter 2 C Reporting the financial performance of entities C1 Performance reporting Chapter 19 C2 Non-current assets Chapter 3 C3 Financial instruments Chapter 6 C4 Leases Chapter 10 C5 Segment reporting Chapter 19 C6 Employee benefits Chapter 4 C7 Income taxes Chapter 5 C8 Provisions, contingencies and events after the balance sheet date Chapter 8 C9 Related parties Chapter 9 C10 Share-based payment Chapter 7 D Financial statements of groups of entities D1 Group accounting including cash flow statements Chapters 11-12, 16 D2 Continuing and discontinued interests Chapter 14 D3 Changes in group structures Chapter 13 D4 Foreign transactions and entities Chapter 15 INTRODUCTION (v) E Specialised entities E1 Financial reporting in specialised, not-for-profit and public sector entities Chapter 20 E2 Reporting requirements for small- and medium-sized entities (SMEs) Chapter 20 F Implications of changes in accounting regulation on financial reporting F1 The effect of changes in accounting standards on accounting systems Chapter 21 F2 Proposed changes to accounting standards Chapter 21 G The appraisal of financial performance and position of entities G1 The creation of suitable accounting policies Chapter 19 G2 Analysis and interpretation of financial information and measurement of performance Chapter 19 H Current developments H1 Environmental and social reporting Chapter 17 H2 Convergence between national and international reporting standards Chapter 18 H3 Comparison of national reporting requirements Chapter 18 H4 Current reporting issues Chapter 18 INTRODUCTION (vi) Classroom tuition and Home study Your studies for BPP consist of two elements, classroom tuition and home study. Classroom tuition In class we aim to cover the key areas of the syllabus. To ensure examination success you will to spend private study time reinforcing your classroom course with question practice and reviewing areas of the Course Notes and Study Text. Home study To support you with your private study BPP provides you with a Course Companion which helps you to work at home and aims to ensure your private study time is effectively used. The Course Companion includes a Home Study section which breaks down your home study by days, one to be covered at the end of each day of the course. You will find clear guidance as to the time to spend on various activities and their importance. You are also provided with progress tests and two course exams which should be submitted for marking as they become due. These may include questions on topics covered in class and home study. BPP Learn Online Come and visit the BPP Learn Online free at www.bpp.com/acca/learnonline for exam tips, FAQs and syllabus health check. ACCA Forum We have thriving ACCA bulletin boards at www.bpp.com/accaforum. Register and discuss your studies with tutors and students. Helpline If you have any queries during your private study simply contact your class tutor on the telephone number or e-mail address that they will supply. Alternatively, call +44 (0)20 8740 2222 (or your local training centre if outside the London area) and ask for a tutor for this paper to speak to you or to call you back within 24 hours. Feedback The success of BPP's courses has been built on what you, the students tell us. At the end of the course for each subject, you will be given a feedback form to complete and return. If you have any issues or ideas before you are given the form to complete, please raise them with the course tutor or relevant head of centre. If this is not possible, please email ACCAcoursesfeedback@bpp.com. INTRODUCTION (vii) Key to icons Question practice from the Study Text This is a question we recommend you attempt for home study. Real world examples These can be found in the Course Companion. Section reference in the Study Text Further reading is needed on this area to consolidate your knowledge. INTRODUCTION (viii) [...]... will be examined as part of question 1, the 50-mark case study The examiner has said that he is not going to take a 'rules-based' approach to these He does not expect candidates to quote chunks of the ACCA or IFAC codes His emphasis will be on professional skills, presenting problems and asking candidates to explain how they would deal with the practical issues involved Current developments such as... reporting standards are more likely to appear in Section B of the exam, where they could form the basis of the essay question Qualification Context Ethical and professional issues are at the heart of the new ACCA qualification and feature in all of the papers at the professional stage Business Context The public reputation of the accounting and auditing profession was seriously damaged by the major corporate... accounting standards Transparency Framework for decisions 2.2 Standards 2: PROFESSIONAL AND ETHICAL DUTY OF THE ACCOUNTANT 1 Professional and ethical issues Ethical principles in corporate reporting 1.1 The ACCA Code of Ethics and Conduct identifies the fundamental principles most relevant to accountants in business involved in corporate reporting: • Objectivity • Integrity • Professional competence and due... Inadequate resources Objectivity and integrity may be threatened in a number of ways: • • (c) Financial interests, such as profit-related bonuses or share options Inducements to encourage unethical behaviour ACCA' s Code of Ethics and Conduct identifies that accountants may be pressurised, either externally or by the possibility of personal gain, to become associated with misleading information The Code clearly... bias, or • Omits or obscures information required to be included where such omission or obscurity would be misleading 2.3 2: PROFESSIONAL AND ETHICAL DUTY OF THE ACCOUNTANT Framework for decisions 1.3 ACCA has developed an overall framework to help its members make ethical decisions in a wide range of circumstances: What is the real issue? Are there threats to compliance with the fundamental principles?... ETHICAL DUTY OF THE ACCOUNTANT 3 Chapter summary 3.1 Section Q1 Fundamental principles Topic Summary 1 Professional and ethical issues In all areas of professional work, whether in practice or in business, ACCA members and students must carry out their work with regard to the fundamental principles of professional ethics 2 Non-financial reporting standards There is an increasing demand by stakeholders for... written part to the consolidation question in Section A, or as a full question or discrete part of a question in Section B Qualification Context Social and environmental matters are not restricted to Paper P2, as they are examined extensively as ethical issues in other papers such as in the context of the social and environmental effects of a business in Paper P1 Professional Accountant, in the context of