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The main areas to be added or deleted from the syllabus from that date are shown in Table 1 and 2 below:
Table 1 – Additions to F7


Explain and compute amounts using the
following measures:
i historical cost
ii current cost
iii net realisable value
iv present value of future cash flows
v fair value

The principles of IFRS
13, Fair Value
Measurement. have
been made more
explicit in the F7


Indicate for the following categories of
financial instruments how they should be
measured and how any gains and losses
from subsequent measurement should be
treated in the financial statements:
i amortised cost
ii fair value through other comprehensive
income (including where an irrevocable
election has been made for equity
instruments that are not held for trading)
iii fair value through profit or loss

This change has been
made to reflect the
classifications of IFRS
9, Financial


a Explain and apply the principles of
recognition of revenue:
i Identification of contracts
ii Identification of performance obligations
iii Determination of transaction price
iv Allocation of the price to performance
v Recognition of revenue when/as
performance obligations are satisfied.
b Explain and apply the criteria for
recognising revenue generated from
contracts where performance obligations
are satisfied over time or at a point in time.
c Describe the acceptable methods for
measuring progress towards complete
satisfaction of a performance obligation.

These changes have
been made to reflect
the principles of IFRS
15, Revenue from
contracts with

C3d Apply and discuss the treatment of the expected loss impairment model. H3a Discuss current issues in corporate reporting. However. e Apply the principles of recognition of revenue. CORPORATE REPORTING Table 1 – Additions to P2 (INT) There have not been any additions to the study guide for the exam year commencing 1 September 2015. including: i recent IFRSs . there have been minor amendments to the wording of some of the study guide outcomes mainly corresponding to changes within examinable documents. Section and subject area Syllabus content Discuss and apply the criteria that must be met before an entity can apply the revenue recognition model to that contract. and specifically account for the following types of transaction: i principal versus agent ii repurchase agreements iii bill and hold arrangements iv consignments f Prepare financial statement extracts for contracts where performance obligations are satisfied over time. Table 2 – Deletions to F7 There have been no deletions to the study guide for the exam year commencing 1 September 2015. P2 (INT).d Explain and apply the criteria for the recognition of contract costs. C1b and c Discuss and apply the five-step model which relates to revenue earned from a contract with a customer.

. The main changes for the year from 1 September 2015 are the inclusion of IFRS 15Revenue from Contracts with Customers and IFRS 9 Financial Instruments (July 2014). The syllabus must be read in conjunction with the Examinable Documents list. as well as changes in the list of exposure drafts and discussion papers that are examinable. A number of outcomes have been combined or removed as detailed in the table below. Section and subject area (in prior year study guide) Syllabus content C6a and b Outline the principal considerations in developing a set of accounting standards for SMEs C8a and b Discuss the reasons why the IFRS for SMEs does not address certain topics.Section and subject area Syllabus content ii practice and regulatory issues iii proposed changes to IFRS iv problems with extant standards (This outcome has been expanded to clarify the range of issues that may be tested within this subject area) Table 2 – Deletions to P2 INT There have not been no specific deletions from the study guide for the exam year commencing 1 September 2015.