Strategic Business

Reporting

The Association of Chartered Certified Accountants

Contents
• Your lecturer
• Your progress
• Syllabus content
• Examination Structure
 Strategic
Business Your Lecturer

Reporting
Strategic Business Reporting
Your lecturer
Sachiru Dayananda (FCA, FCMA, SAT, MBA)
• Fellow Member of the Institute of Chartered Accountants of Sri Lanka
• Fellow Member of Certified Management Accountants of Sri Lanka
• Senior Member of the Association of Accounting Technicians of Sri Lanka
• Master of Business Administration (University of Southern Queensland of Australia)
• 15+ years experience in accounting and auditing
• 10+ years of experience in lecturing for professional examinations (Accounting – CA
Sri Lanka , Taxation – CA Sri Lanka, AAT SL, CMA SL and financial management –
ACCA Skills)
 Strategic
Business Your Progress

Reporting
Strategic Business Reporting
Your Progress

Strategic
Applied
Financial Financial Strategic
Applied Skills business
Knowledge
Accounting Reporting Professional
reporting

Financial Reporting Strategic Business

Financial Accounting
Reporting
Advanced
audit and
assurance
 Strategic
Business Your Syllabus

Reporting
Strategic Business Reporting
Your Syllabus
Students are expected to
• Examine corporate reporting from the view of a preparer and other stakeholder
perspectives (E.g.: investors, financiers etc.)
• Assess and evaluate reporting decisions made by the management including
professional and ethical responsibilities
• Understand conceptual framework for financial reporting and use the framework as the
basis for judgement in IFRSs
• Understand usefulness of corporate reports including developments such as integrated
reporting and sustainability reporting
• Analyze and interpretation of corporate reports
• Understand new developments including discussions on limitations of existing standards
Strategic Business Reporting
Your Syllabus (Cont.)
A. Fundamental Ethical and Professional Principles
B. The Financial Reporting Framework
C. Reporting the Financial Performance of a Range of Entities
D. Financial Statements of Groups of Entities
E. Interpret Financial Statements for Different Stakeholders
F. The Impact of Changes and Potential Changes in Accounting Regulation
G. Employability and Technology Skills
Strategic Business Reporting
Your Syllabus (Cont.)
A. Fundamental Ethical and Professional Principles

• Importance of ethical and professional behaviour in complying with standards and other
corporate reporting requirements
• Consequences of unethical behaviour by management in carrying out the responsibility
for the preparation of corporate reports.
Strategic Business Reporting
Your Syllabus (Cont.)
B. The financial reporting framework
• Importance of conceptual framework for financial reporting in underpinning accounting
standards
• Objectives, principles and limitations of financial reporting
• Qualitative characteristics of useful financial information
• Principles of recognition, derecognition and measurement including measurement
uncertainty and materiality
• Elements of financial statements and the reporting items
Strategic Business Reporting
Your Syllabus (Cont.)
C. Reporting the financial performance of a range of entities
• Revenue – IFRS 15
• Non-current Assets – IAS 16 / IAS 36 / IFRS 5 / IAS 40 / IAS 38 / IAS 23
• Financial Instruments – IAS 32 / IFRS 7 / IFRS 9
• Leases – IFRS 16
• Employee Benefits – IAS 19
• Income Taxes – IAS 12
• Provisions, contingencies and subsequent events – IAS 37 / IAS 10
• Share based payments – IFRS 2
• Fair value measurement – IFRS 13
• Small and Medium sized entities – IFRS for SMEs
• Other areas – IAS 20 / IAS 8 / IAS 24 / IAS 1
Strategic Business Reporting
Your Syllabus (Cont.)
D. Financial statements of groups of entities
• Identifying a business combination including the control principle
• Accounting for business combination including accounting for goodwill
• Recognition criteria used for identifying acquired assets and liabilities
• Changes in ownership interest and loss of control or significant influence
• Impact on group financial statements where activities are discontinued
• Accounting for group companies in separate financial statements
• Preparation of consolidated financial statements and exemption to prepare the same
• Group statement of cash flows
Strategic Business Reporting
Your Syllabus (Cont.)
E. Interpret financial statements for different stakeholders
• Evaluate relevant financial and non-financial indicators
• Principles of reportable segments
• Social and ethical factors on disclosure
• Importance of sustainability reporting, integrated reporting
• Usefulness of management commentary to investors
Strategic Business Reporting
Your Syllabus (Cont.)
F. The impact of changes and potential changes in accounting regulations
• Implications of the adoption of new accounting standards
• Issues and deficiencies which have led to proposed changes to an accounting standard
• Application of accounting standards to contemporary issues such as digital assets, natural
disasters, climate change, global events, going concern, etc.
• Sustainability reporting and sustainability standards
Strategic Business Reporting
Your Syllabus (Cont.)
G. Employability and technology skills
• Use of computer technology to efficiently access and manipulate relevant information
• Work on relevant response options using available functions and technology, as would be
required in a workplace
• Navigate windows and computer screens
• Present data and information effectively, using appropriate tools
 Strategic
Business Your Examination

Reporting
Strategic Business Reporting
Your Examination
100%

Section A Section B

Q1 (30 marks) Q2 (20 marks)* Q3 (25 marks) Q4 (25 marks)*

All questions are mandatory. * Includes 2 professional marks each

Strategic Business Reporting
Your Examination
• Group accounting question.
Q1 (30 marks)
• Numeric aspects + explanations required.

Reporting implications or/and ethical implications of a specific event /

Q2 (20 marks)* scenario.

• Scenario / case study / essay-based question.

Q3 (25 marks)
• Could be from any aspect of the syllabus.

• Scenario / case study / essay-based question.

Q4 (25 marks)*
• Could be from any aspect of the syllabus.
* Includes 2 professional marks each
Thank you