Financial Accounting and Reporting

Study map
BEFORE YOU BEGIN

• Scheduling your exam

appointment
• Foundation exams rules

•
and regulations
Preparing for Foundation
exams
BYB
• Learning objectives
• Frequently asked questions
• Additional learning support MODULE 1

Using your study guide • Study guide (PDF)

• Study guide (ePub)
Using your ePub study guide

International Financial Reporting

M1 Chapter overview—Module 1

Standards (IFRS) Study time proportion: 28%

Study guide—Introduction

MODULE 2 M2
• Study guide (PDF)
• Study guide (ePub) MODULE 3

Chapter overview—Module 2 • Study guide (PDF

• Study guide (ePub)

M3
Study time proportion: 17%
Chapter overview—Module 3

Study time proportion: 17%

MODULE 4

•
•
Study guide (PDF)
Study guide (ePub)
M4
Chapter overview—Module 4
MODULE 5
Study time proportion: 15%
• Study guide (PDF)
• Study guide (ePub)

M5 Chapter overview—Module 5

Study time proportion: 13%

MODULE 6

• Study guide (PDF)

• Study guide (ePub)

Chapter overview—Module 6 M6
Study time proportion: 10%
EXAM PREPARATION

• Scheduling your exam

appointment

EP • What to expect on the day

of your exam
• Accessing and understanding
your results

What to expect on the day of

Key: your exam
Activity Supplementary
document Exam tutorial
Audio
Video
Check your
understanding Web link • Pearson VUE On-screen
calculator
Study guide
• On-screen exam tools
2 | FINANCIAL ACCOUNTING AND REPORTING

Detailed study session planning

Recommended
study time Done

Before you begin

— Scheduling your exam appointment 10 mins

— Foundation exams rules and regulations 20 mins

— Preparing for Foundation exams 20 mins

— Learning objectives 10 mins

— Frequently asked questions 25 mins

— Additional learning support 5 mins

— Using your study guide 5 mins

— Using your ePub study guide 10 mins

— International Financial Reporting Standards (IFRS) 25 mins

— Study guide—Introduction 20 mins

Total 2.5 hrs

Notes:
 STUDY MAP | 3

Recommended
study time Done

Study 拆分了6和7
session Module 1—The financial reporting environment 添加了15 Materiality
— Audio: Chapter overview—Module 1 19 Derecognition 10 mins

— Study guide—Before you begin 1 hr 10 mins

1 Study guide—The purpose of accounting 1 hr 10 mins

2 Study guide—Nature, principles and scope of financial reporting 40 mins

3 Study guide—Users’ and shareholders’ needs 25 mins

4 Study guide—The need for a regulatory framework 1 hr 50 mins

5 Study guide—The IFRS Foundation and the IASB 4 hrs 10 mins

— Study guide—Quick revision questions 1 40 mins

6 Study guide—Generally accepted accounting principles (GAAP) 20 mins

7 Study guide—Conceptual framework 1 hr

8 Study guide—Accounting regulation 25 mins

9 Study guide—Accounting policies 40 mins

10 Study guide—IAS 8 Accounting policies, changes in accounting estimates and errors 2 hrs 15 mins

— Study guide—Quick revision questions 2 35 mins

11 Study guide—The role of accounting standards 1.5 hrs

12 Study guide—Accounting standards and choice 50 mins

13 Study guide—Accounting concepts 1 hrs 20 mins

14 Study guide—Qualitative characteristics of financial information 1 hr 10 mins

15 Study guide—Materiality in the context of financial reporting 1hr

16 Study guide—International Financial Reporting Standards 2 hrs

17 Study guide—Developments in international harmonisation 1 hr 20 mins

— Study guide—Quick revision questions 3 40 mins

18 Study guide—The elements of financial statements 1.5 hrs

19 Study guide—Recognition and derecognition of the elements of financial statements 40 mins

20 Study guide—Applying the recognition criteria 1.5 hrs

21 Study guide—The main financial statements 2 hrs 55 mins

— Study guide—Quick revision questions 4 35 mins

Total 32.5 hrs

4 | FINANCIAL ACCOUNTING AND REPORTING

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study time Done

Notes:
 STUDY MAP | 5

Recommended
study time Done

Study
session Module 2—The accounting theory 2 Measurement Bases有添加
— Audio: Chapter overview—Module 2 5 mins

— Study guide—Before you begin 50 mins

1 Study guide—Historical cost accounting 1 hr

2 Study guide—Measurement bases of the elements of financial statements 3.5 hrs

3 Study guide—Positive and normative accounting theory 30 mins

4 Study guide—Alternatives to historical cost 20 mins

5 Study guide—Concepts of capital and capital maintenance 30 mins

6 Study guide—Current purchasing power (CPP) 1 hr 40 mins

7 Study guide—Current cost accounting (CCA) 1 hr 20 mins

— Study guide—Quick revision questions 1 40 mins

8 Study guide—Agency theory 2 hrs

9 Study guide—Information provided in annual reports 1 hr 20 mins

10 Study guide—Information available to shareholders 50 mins

11 Study guide—Content of company reports 5.5 hrs

— Study guide—Quick revision questions 2 25 mins

Total 20.5 hrs

Notes:
6 | FINANCIAL ACCOUNTING AND REPORTING

Recommended
study time Done

Study
session Module 3—Financial statements

— Audio: Chapter overview—Module 3 10 mins

— Study guide—Before you begin 45 mins

1 Study guide—IAS 1 Presentation of Financial Statements 1 hr

2 Study guide—Statement of financial position 2 hrs

3 Study guide—Statement of profit or loss and other comprehensive income 2 hrs

4 Study guide—Statement of changes in equity 30 mins

5 Study guide—Notes to the financial statements 30 mins

6 Study guide—IAS 7 Statement of Cash Flows 4 hrs

7 Study guide—Preparing a statement of cash flows 6 hrs

8 Study guide—Internal control, and the role of internal and external auditors 2 hrs 20 mins

— Study guide—Quick revision questions 1 hr 15 mins

Total 20.5 hrs

Notes:
 STUDY MAP | 7

Recommended
study time Done

Study 添加了1 PPE

session Module 4—Application of specific accounting standards

— Audio: Chapter overview—Module 4 15 mins

— Study guide—Before you begin 1 hr 10 mins

1 Study guide—IAS 16 Property, Plant and Equipment 40 mins

2 Study guide—IAS 38 Intangible Assets 40 mins

3 Study guide—Research and development costs 1 hr 15 mins

4 Study guide—Impairment of individual assets 40 mins

5 Study guide—Cash-generating units (CGUs) 50 mins

6 Study guide—Accounting treatment of an impairment loss 40 mins

— Study guide—Quick revision questions 1 55 mins

7 Study guide—Revenue recognition 2 hrs 10 mins

8 Study guide—Current tax 50 mins

9 Study guide—Deferred tax 50 mins

10 Study guide—Taxable temporary differences 30 mins

11 Study guide—Deductible temporary differences 30 mins

12 Study guide—Measurements and recognition of deferred tax 30 mins

13 Study guide—Taxation in company accounts 30 mins

— Study guide—Quick revision questions 2 45 mins

14 Study guide—Foreign currency 20 mins

15 Study guide—Foreign currency transactions 40 mins

16 Study guide—Foreign currency financial statements 1.5 hrs

— Study guide—Quick revision questions 3 40 mins

17 Study guide—IFRS 16 Leases 50 mins

— Study guide—Quick revision questions 4 25 mins

Total 17.5 hrs

8 | FINANCIAL ACCOUNTING AND REPORTING

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study time Done

Notes:
 STUDY MAP | 9

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study time Done

Study
session Module 5—Business combinations

— Audio: Chapter overview—Module 5 10 mins

— Study guide—Before you begin 50 mins

1 Study guide—Group accounts – a subject outline 20 mins

2 Study guide—Group companies 35 mins

3 Study guide—Consolidated and separate financial statements 35 mins

4 Study guide—Intra-group transactions 15 mins

— Study guide—Quick revision questions 1 35 mins

5 Study guide—Non-controlling interests 1 hr 10 mins

6 Study guide—Goodwill arising on consolidation 2 hrs

7 Study guide—Basic principles of the consolidated statement of financial position 1 hr

8 Study guide—Comprehensive example 25 mins

9 Study guide—Intra-group trading 50 mins

10 Study guide—Intra-group sales of non-current assets 20 mins

11 Study guide—Summary: consolidated statement of financial position 10 mins

12 Study guide—Acquisition of a subsidiary during its accounting period 25 mins

13 Study guide—Fair values in acquisition accounting 1 hr 20 mins

— Study guide—Quick revision questions 2 35 mins

14 Study guide—Basic principles of the consolidated statement of profit or loss 25 mins

15 Study guide—Intra-group transactions 15 mins

16 Study guide—Pre-acquisition profits and mid-year acquisitions 25 mins

17 Study guide—Other adjustments 10 mins

18 Study guide—Summary: consolidated statement of profit or loss 10 mins

— Study guide—Quick revision questions 3 35 mins

19 Study guide—Accounting for associates 20 mins

20 Study guide—The equity method 25 mins

21 Study guide—Consolidated statement of profit or loss 20 mins

22 Study guide—Consolidated statement of financial position 20 mins

23 Study guide—Adjustments 20 mins

— Study guide—Quick revision questions 4 40 mins

Total 16 hrs
10 | FINANCIAL ACCOUNTING AND REPORTING

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study time Done

Notes:
 STUDY MAP | 11

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study time Done

Study
session Module 6—Analysis of financial statements

— Audio: Chapter overview—Module 6 5 mins

— Study guide—Before you begin 45 mins

1 Study guide—Financial analysis: subject outline 45 mins

2 Study guide—Profitability 2 hrs 45 mins

3 Study guide—Solvency 1.5 hrs

4 Study guide—Liquidity and efficiency 2 hrs

5 Study guide—Investor ratios 45 mins

6 Study guide—Comprehensive question 1 hr 15 mins

7 Study guide—Limitations of financial analysis 1.5 hrs

— Study guide—Quick revision questions 40 mins

Total 12 hrs

Notes:
12 | FINANCIAL ACCOUNTING AND REPORTING

Recommended
study time Done

Study
session Exam preparation—Revision

— Scheduling your exam appointment 10 mins

1 Study guide—Revise Module 1 2.5 hrs

— Study guide—Revision questions for Module 1 45 mins

2 Study guide—Revise Module 2 1 hr 20 mins

— Study guide—Revision questions for Module 2 30 mins

3 Study guide—Revise Module 3 1.5 hrs

— Study guide—Revision questions for Module 3 30 mins

4 Study guide—Revise Module 4 1 hr 15 mins

— Study guide—Revision questions for Module 4 1 hr

5 Study guide—Revise Module 5 1 hr

— Study guide—Revision questions for Module 5 35 mins

6 Study guide—Revise Module 6 30 mins

— Study guide—Revision questions for Module 6 25 mins

— Pearson VUE On-screen calculator 5 mins

— On-screen exam tools 5 mins

— Exam tutorial 30 mins

— Accessing and understanding your results 10 mins

Total 12 hrs 50 mins

Notes:
 STUDY MAP | 13

Suggested study schedule by weeks

Six weeks
Module Total hours Suggested weeks

1 The financial reporting environment 32.5 Week 1, 2

2 The accounting theory 20.5 Week 2, 3

3 Financial statements 20.5 Week 3, 4

4 Application of specific accounting standards 17.5 Week 4, 5

5 Business combinations 16 Week 5, 6

6 Analysis of financial statements 12 Week 6

12 weeks
Module Total hours Suggested weeks

1 The financial reporting environment 32.5 Week 1, 2, 3, 4

2 The accounting theory 20.5 Week 4, 5, 6

3 Financial statements 20.5 Week 6, 7, 8

4 Application of specific accounting standards 17.5 Week 8, 9, 10

5 Business combinations 16 Week 10, 11

6 Analysis of financial statements 12 Week 11, 12

24 weeks
Module Total hours Suggested weeks

1 The financial reporting environment 32.5 Weeks 1–7

2 The accounting theory 20.5 Weeks 7–11

3 Financial statements 20.5 Weeks 11–15

4 Application of specific accounting standards 17.5 Weeks 15–19

5 Business combinations 16 Weeks 19–22

6 Analysis of financial statements 12 Weeks 22–24

52 weeks
Module Total hours Suggested weeks

1 The financial reporting environment 32.5 Weeks 1–15

2 The accounting theory 20.5 Weeks 15–24

3 Financial statements 20.5 Weeks 24–33

4 Application of specific accounting standards 17.5 Weeks 33–40

5 Business combinations 16 Weeks 40–47

6 Analysis of financial statements 12 Weeks 47–52