Final Examination June 2013 Session List of Special Topics

The following topics have been designated as special topics. This means that at least 70% of the Final Examination will be based on the topics below. These topics will be integrated so that candidates are exposed to practical issues faced by professional accountants in practice. Module A: Financial Reporting Legal environment Accounting policies, changes in accounting estimates and errors Revenue Government grants and assistance Share-based payment Inventories Property, plant and equipment Investment property Financial assets, financial liabilities and equity instruments Leases Non-current assets held for sale and discontinued operations Principles of consolidation Interests in joint arrangements Module B: Corporate Financing Project appraisal techniques and process Post-appraisal audit of projects Cost of capital Dividend policy Raising finance Types and sources of finance Mergers and acquisitions Corporate reorganisation and change

Module C: Business Assurance Professional standards and guidance; Code of Ethics Client and engagement acceptance procedures Planning and risk assessment Audit procedures Related party transactions Audit evidence Internal audit Computerised business system: types of controls and system change processes

Module D: Taxation Returns, offences and penalties Assessments, objections and appeals Benefits in kind, housing benefit, share options Scope of profits tax charge Source of business profits General deductions and specific deductions Depreciation allowances Ascertainment of profits tax liability Stamp Duty Double taxation relief

Hong Kong Institute of CPAs 28 March 2013