CWA ICWA Final : Group IV - Advanced Financial Accounting & Reporting

ICWAICWA ICWA (2008)FinalSyllabus and Books • Group IV - Advanced Financial Accounting & Reporting

ICWA :: Final
Paper 16 : Advanced Financial Accounting & Reporting
[One Paper: 3 hours:100 marks]

Objective . . .

To gain expert knowledge of the professional standards, principles and procedures developed globally
by and their application to different practical situations
To understand the scope and quality of external reporting and its use in published accounts
1.Introduction to IAS, US GAAP, Indian Accounting Standards15%
GAAP in India
US GAAP- Statements and Standards, hierarchy of US GAAP
International Accounting Standards
Relative view of AS (India), IAS and US GAAP on different issues
2.Preparation of Company Accounts under various circumstances20%
Relevant Terms
Types of Mergers, methods of accounting
Treatment of Goodwill arising on Merger.
Purchase Consideration and Settlement.
Accounting in the books of vendor / transferor company.
Accounting for investment in subsidiary.
Accounting of holding companies
Consolidation of financial statements.
Corporate Financial restructuring
Accounting standards relevant to these concepts.
3.Group Financial Statements25%
Holding company, Subsidiary Company and Associate company
Consolidated Income Statement, Balance Sheet and Cash Flow Statements for Group of companies
Concept of fair value at the time of acquisition
Impact on group financial statements at the point of acquisition
Compare and contrast acquisition and equity methods of accounting
Reconstruction schemes , De-merger
Preparation and interpretation of segmental analysis, inter-firm comparisons
4.Segment Reporting10%
5.Developments in External Reporting20%
Applicability of a particular accounting standard.
Interpretation of various accounting standards.
Scope of accounting standards.
Compliance with the Accounting Standards.
Annual Reports – Statutory Requirements and External reports
Preparation of Financial information in the Annual Reports
External Reporting under capital market regulations
Disclosure of post Balance Sheet events.
Financial Reporting across the world
Exposure to reporting under US and UK laws
IFRS requirements for reporting
6.Government Accounting in India10%
General Principles.
Comparison with commercial accounting.
Role of the Comptroller and Auditor General of India.
Role of the Public Accounts Committee.
Review of accounts.

Recommended Books

Financial Management and PolicyJ.C.Van HornePrentice Hall
Essentials of managerial FinanceWeston and BrighamDryden Press
Accounting TheoryEldon S.HendriksenRichard D.Irwin
Accounting TheoryK.S.MostHolt, Rinehart & Winston
Financial Accounting Theory-Issues And ControversiesBernstei & WildMcGraw Hill
Financial Statement Analysis: Theory, Application & InterpretationBernstei & WildIrwin McGraw Hill
Analysis and Use of Financial StatementsWrite, Sondhi & Fried John Wiley
Financial Statement Analysis- A new ApproachLev BaruchPrentice Hall
Monthly financial Reports for Operating ManagersG.R.KulakarniICWAI
Regulation of Corporate Accounting and Reporting in IndiaBhabatosh BanerjeeWorld Press
Economic Value Added: A Tool for Business PlanningT.P.GhoshICWAI
Accounting Standards and Corporate Accounting Practices T.P.GhoshTaxmann
Manual of Accounting StandardsS.AgarwalSnow White