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Corporate Reporting assumes knowledge acquired at the Fundamentals level including the core technical capabilities to prepare and analyse financial reports for single and combined entities.

The Paper P2 syllabus takes the subject into greater depth and contextualises the role of the accountant as a professional steward and adviser/analyst by initially exploring the wider professional duties and responsibilities of the accountant to the stakeholders of an organisation.

The syllabus examines the financial reporting framework within which the accountant operates and examines detailed financial reporting requirements for entities leading to the preparation of group financial reports in accordance with generally accepted accounting practice and relevant standards.

The syllabus then deals with the nature of reporting for specialised entities including not-for-profit and small and medium-sized enterprises.

The final sections of the syllabus explore - in more depth - the role of the accountant as financial analyst and adviser through the assessment of financial performance and position of entities, and the accountant's role in assessing and advising on the implications of accounting regulation on corporate reporting.

Finally, the syllabus covers the evaluation of current developments and their implications for financial reporting.

To introduce the fundamental principles of accounting and to develop the knowledge and understanding of the techniques used to maintain accounting records.
To produce accounting records including ledger accounts, sales tax records (where applicable), control accounts, reconciliations, and extract and correct an initial trial balance also making the adjustments necessary to produce an extended trial balance. The syllabus also covers accounting for the business transactions of sole traders and partnerships.

To introduce the basic accounting systems and documentation that will be encountered in the workplace. To develop knowledge and understanding of the operational aspects of maintaining accounting records and procedures and to learn how to record these transactions in the books of prime entry, including introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.

To develop the knowledge and understanding of the principles and techniques used in recording, analysing and reporting costs and revenues for internal management purposes. To demonstrate and develop applicable cost concepts in making short term decisions and the application of spreadsheets in management accounting.

To introduce the basic accounting systems and documentation that will be encountered in the workplace. To develop knowledge and understanding of the operational aspects of maintaining accounting records and procedures and to learn how to record these transactions in the books of prime entry, including introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.

Taxation introduces candidates to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses.Candidates are introduced to the rationale behind - and the functions of - the tax system.

Course Content

  • Strategic position
  • Strategic choices
  • Strategic action
  • Business process change
  • Information technology
  • Quality issues
  • Project management
  • Financial analysis
  • People

To introduce the student to the knowledge of basic cost information required for management accounting. To develop the knowledge and ability to recognise, collect and record basic cost and revenue information for planning and control including the use of spreadsheets in management accounting.

Financial Accounting introduces the candidate to the fundamentals of financial accounting, explaining its context and purpose with reference to qualitative characteristics of useful financial information and to the fundamental bases of accounting.

The syllabus then concentrates in depth on the basics of the doubleentry system and on recording, processing, and reporting business transactions and events.

The syllabus then covers the use of the trial balance and how to identify and correct errors, and then the preparation of financial statements for incorporated and unincorporated entities.

To introduce the fundamental principles of accounting and to develop the knowledge and understanding of the techniques used to maintain accounting records.
To produce accounting records including ledger accounts, sales tax records (where applicable), control accounts, reconciliations, and extract and correct an initial trial balance also making the adjustments necessary to produce an extended trial balance. The syllabus also covers accounting for the business transactions of sole traders and partnerships.

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