SYLLABUSSYLLABUS

ADVANCE FINANCIALADVANCE FINANCIAL

STAGE - 4STAGE - 4

INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS

OF PAKISTAN (ICMAP)

NOTENOTE

The weightage shown against each The weightage shown against each section indicates, study time required section indicates, study time required for the topics in that section. This for the topics in that section. This weightage does not necessarily specify weightage does not necessarily specify the number of marks to be allocated to the number of marks to be allocated to that section in the examination. that section in the examination.

CONTENTSCONTENTS

SYLLABUS CONTENT AREA WEIGHTAGESYLLABUS CONTENT AREA WEIGHTAGE

SECTION – A Weightage 50%SECTION – A Weightage 50%

Group / Consolidated Financial Statements (Balance Group / Consolidated Financial Statements (Balance Sheet &Income Statement) in accordance with relevant Sheet &Income Statement) in accordance with relevant IFRs / IASs. [simple groups including subsidiaries & IFRs / IASs. [simple groups including subsidiaries & associates]associates]

Cash Flow Statement of a Single Company Cash Flow Statement of a Single Company (consolidated cash flow statement is not required)(consolidated cash flow statement is not required)

Corporate Financial Analysis (including IAS 33)Corporate Financial Analysis (including IAS 33) Amalgamation, Absorption and ReconstructionAmalgamation, Absorption and Reconstruction Final Statement of LiquidatorFinal Statement of Liquidator

SECTION – A Weightage 50%SECTION – A Weightage 50% Group / Consolidated Financial Statements (Balance Sheet & Income Group / Consolidated Financial Statements (Balance Sheet & Income

Statement) in accordance with relevant IFRs / IASs. [simple groups including Statement) in accordance with relevant IFRs / IASs. [simple groups including subsidiaries & associates Definition of holding, subsidiary and associated subsidiaries & associates Definition of holding, subsidiary and associated undertaking; preparation of company accounts and consolidated financial undertaking; preparation of company accounts and consolidated financial statements as per IAS-27.statements as per IAS-27.

Cash Flow Statement of a Single Company (consolidated cash flow statement Cash Flow Statement of a Single Company (consolidated cash flow statement is not required) Preparation of the cash flow statement, including relevant is not required) Preparation of the cash flow statement, including relevant notes for an individual company, in accordance with IAS 7.notes for an individual company, in accordance with IAS 7.

Corporate Financial Analysis (including IAS 33) Ratio analysis techniques, Corporate Financial Analysis (including IAS 33) Ratio analysis techniques, segment analysis, common size analysis and reporting the result; limitations segment analysis, common size analysis and reporting the result; limitations of ratio analysis; analysis of financial statements and comments on the of ratio analysis; analysis of financial statements and comments on the performance and position of an entity as per IAS –33; principles of substance performance and position of an entity as per IAS –33; principles of substance in measurement of income & capital in accordance with IAS – 1.in measurement of income & capital in accordance with IAS – 1.

Amalgamation, Absorption, Liquidation and Reconstruction : Amalgamation by Amalgamation, Absorption, Liquidation and Reconstruction : Amalgamation by forming a new company; amalgamation by absorption; amalgamation by forming a new company; amalgamation by absorption; amalgamation by forming a holding company; reconstruction of companies. Legal aspects of forming a holding company; reconstruction of companies. Legal aspects of mergers and acquisitions.mergers and acquisitions.

Final Statement of Liquidator :Statement of affairs and deficiency or surplus Final Statement of Liquidator :Statement of affairs and deficiency or surplus account; liquidator’s final statement of account.account; liquidator’s final statement of account.

SYLLABUS CONTENT AREA WEIGHTAGESYLLABUS CONTENT AREA WEIGHTAGE

SECTION-B Weightage 50%SECTION-B Weightage 50%

Accounting for Leases ( IAS – 17 )Accounting for Leases ( IAS – 17 ) Accounting for Taxation IAS – 12 (for a single company)Accounting for Taxation IAS – 12 (for a single company) Accounting for Construction Contracts ( IAS – 11 )Accounting for Construction Contracts ( IAS – 11 ) Accounting of Insurance Company, Banks & Financial Accounting of Insurance Company, Banks & Financial

Institutions ( IAS – 30 )Institutions ( IAS – 30 ) Accounting treatment of Financial Instruments (Basic Accounting treatment of Financial Instruments (Basic

understanding of relevant IFRs / IASs)understanding of relevant IFRs / IASs) The measurement of Income & Capital (IAS – 18, 29 )The measurement of Income & Capital (IAS – 18, 29 ) Ethical requirements from an AccountantEthical requirements from an Accountant

SECTION-B Weightage 50%SECTION-B Weightage 50% Accounting for Leases ( IAS – 17 ) : Definition of leases and their importance, Accounting for Leases ( IAS – 17 ) : Definition of leases and their importance,

difference between operating and financial leases; accounting for operating difference between operating and financial leases; accounting for operating and finance leases; definition, reporting requirements of finance lease in terms and finance leases; definition, reporting requirements of finance lease in terms of IAS 17 and relevant IFRS.of IAS 17 and relevant IFRS.

Accounting for Taxation IAS – 12 (for a single company) Treatment of current Accounting for Taxation IAS – 12 (for a single company) Treatment of current taxation and deferred taxation; entries related to corporate tax in accounting taxation and deferred taxation; entries related to corporate tax in accounting records as per IAS-12.records as per IAS-12.

Accounting for Construction Contracts ( IAS – 11 ): Preparation of contract Accounting for Construction Contracts ( IAS – 11 ): Preparation of contract account (profit and loss account and balance sheet) as per IAS-11.account (profit and loss account and balance sheet) as per IAS-11.

Accounting of Insurance Company, Banks & Financial Institutions ( IAS – 30 )Accounting of Insurance Company, Banks & Financial Institutions ( IAS – 30 )

Legal provisions and prudential regulations; preparation of accounts and Legal provisions and prudential regulations; preparation of accounts and financial statements of Insurance Companies, banks and financial Institutions.financial statements of Insurance Companies, banks and financial Institutions.

Accounting Treatment of Financial Instruments (Basic understanding of Accounting Treatment of Financial Instruments (Basic understanding of relevant IFRs / IASs)Short-term and long-term investments; investments in relevant IFRs / IASs)Short-term and long-term investments; investments in shares; bonds and funds; convertible bonds and debentures; debentures; shares; bonds and funds; convertible bonds and debentures; debentures; debentures conversion into shares; redeemable capital Term Finance debentures conversion into shares; redeemable capital Term Finance Certificates (TFCs); (IAS 21, 28, & 32)Certificates (TFCs); (IAS 21, 28, & 32)

The Measurement of Income & Capital (IAS – 18, 29)The Measurement of Income & Capital (IAS – 18, 29) Ethical Requirements from an AccountantEthical Requirements from an Accountant