International Organisation for

Professional Qualifications

Syllabus
International Accounting Technician

Summary: This qualification provides the opportunity to develop knowledge and understanding of the techniques used for recording and maintaining financial transactions
and preparing relevant documents or statements. This qualification also provides the opportunity to develop knowledge and understanding of the techniques used to
maintain accounting records for incomplete accounts, sole trader and prepare final accounts for companies.

Summary of learning outcomes Summary of the content for each learning outcome Assessment criteria for each learning
To achieve this unit a student outcome
must be able to:

1 Understand the context and
purpose of financial
reporting
Role and functions of regulatory bodies-IASCF, IASB framework, IFRS: authority, due  Demonstrate the use of accounting
process, current standards, IFRS interpretations committee, GAAP, the regulatory standards in the context of financial
framework, nature of fair presentation, current accounting standards, role of auditor: small reporting.
company audit exemption, fair presentation, entities not requiring published financial
statements

2 Understand the use of Double-entry book-keeping principles including the maintenance of accounting records,  Apply the principles of double entry to
double entry and accounting sources, the business equation, records and books of prime entry, and journals, ledger record transactions
systems accounts and double entry, cycle from trial balance to financial statements (not found in
the text)

3 Complete recording of Record transactions and events related to: sales tax, inventory, cash, tangible non-current  Prepare accounts related to revenue,
transactions and events asset, intangible non-current asset, accruals and prepayments, irrecoverable debts and capital accounts and or assets
allowances, provisions and contingencies, capital structure and financing costs

4 Prepare trial balance Control accounts and reconciliations, basic reconciliations, correction of errors,  Prepare or reproduce trial balance
preparation of trial balance, suspense accounts from the given set of accounts

5 Preparing basic financial IAS 1: Statements of financial position, income statements and statements of  Prepare statement of comprehensive
 statements comprehensive income, disclosure notes, IAS 10: events after the reporting period, IAS 7: income from the given information.
statements of cash flows (excluding partnerships), incomplete records, reporting reserves  Organise accounts of statement of
in a company’s statement of financial position, preparation of statement of financial financial position
position from given information, preparation of statement of comprehensive income from  Record events after the reporting
given information, IAS 12: treatment of income tax in financial statement, items requiring period
disclosures, interrelationship between statement of comprehensive income and statement
of financial position

6 Preparing simple IAS 27 and IAS 28: Company financial accounts: Subsidiaries, Associates  Prepare accounts for subsidiaries
consolidated financial and/or associate companies from the
statements given information.

7 Interpretation of financial Importance and purpose of analysis of financial statements, ratios, analysis of the  Analyse financial statements from the
statements financial statements given scenario.