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    CMA Final Syllabus 2016 (Paper 17): Corporate Financial Reporting


    PAPER 17: CORPORATE FINANCIAL REPORTING
    Section A :GAAP and Accounting Standards
    30%
    Section B: Accounting of Business Combinations & Restructuring
    20%

    Section C : Consolidated Financial Statements
    20%
    Section D: Developments in Financial Reporting
    15%
    Section E: Government Accounting in India
    15%
    Section A: GAAP and Accounting Standards
    1. Accounting Standards
    (a) Generally Accepted Accounting Principles in India
    (b) Accounting Standards (AS) – Applicability, Interpretation, Scope and Compliance
    (c) International Financial Reporting Standards
    (d) Over View of Ind AS
    (e) Relative view of AS VS Ind AS VS IFRS
    Section B: Accounting of Business Combinations & Restructuring
    2. Accounting for Business Combinations & Restructuring (as per Ind AS)
    (a) Relevant Terms, Types of merger, methods of accounting, treatment of Goodwill arising on merger, Purchase consideration and settlement
    (b) Accounting in books of vendor/ transferor and transferee
    (c) Accounting for investment in subsidiary
    (d) Accounting for Mergers / Acquisitions (including chain holdings, cross holdings, multiple holdings)
    (e) Corporate Financial restructuring, Reconstruction Schemes, De-merger, Reverse merger
    (g) Notes to Accounts & related disclosures under amalgamation
    Section C: Consolidated Financial Statements
    3. Group Financial Statements
    (a) Concept of a group, Purposes of consolidated financial statements, Consolidation procedures, Minority interest, Goodwill, Treatment Pre-acquisition profit and Post acquisition profit and concept of Fair value at the time of acquisition.
    (b) Consolidation with two or more subsidiaries, consolidation with foreign subsidiary.
    (c) Consolidated Income Statement, balance Sheet and Cash Flow Statements for Group of companies.
    (d) Impact on group financial statements at the point of acquisition
    (e) Treatment of investment in associates in consolidated financial statements. Compare and contrast acquisition and equity methods of accounting
    (f) Treatment of investment in joint ventures in consolidated financial statements
    Section D: Developments in Financial reporting and Other Item of reporting
    4. Recent trends in Financial reporting: Concept of Triple Bottom Line Reporting
    5. Valuation, Accounting and Reporting of Financial Instruments and others
    (a) Recognition & Valuation Financial Instruments
    (b) CENVAT / VAT Accounting
    (c) NBFC – Provisioning Norms and Accounting
    (d) Valuation of Shares
    (e) Valuation of Goodwill
    6. Share Based payments
    (a) Meaning, Equity settled transactions, Transaction with employees and non-employees
    (b) Vesting conditions, Determination of Fair value of Options, Determination of ESOP Provision and Related Disclosure and settlement of ESOP
    7. Reporting Through XBRL (Extended Business Reporting Language)
    Section E: Government Accounting in India
    8. Government Accounting
    (a) General Principles and comparison with commercial accounting
    (b) Role of Comptroller and Auditor General of India
    (c) Role of Public Accounts Committee, Review of Accounts
    (d) Government Accounting Standards issued by Government Accounting Standards Advisory Board ( GASAB)
    (e) Government Accounting and Reporting

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