ACCA exam notes phần 1 potx

student accountant February 200433 exam notes
exam notes
e
CAT Scheme
financial accounting and auditing
papers 1, 3, 6 and 8 52
management accounting and financial
management
papers 2, 4, 7 and 10 55
management and IT
paper 5 56
tax
paper 9 56
Professional Scheme
financial accounting and auditing
papers 1.1, 2.5, 2.6, 3.1 and 3.6 34
management accounting and financial
management
papers 1.2, 2.4, 3.3 and 3.7 43
management and IT
papers 1.3, 2.1, 3.4 and 3.5 44
law
paper 2.2 46
tax
papers 2.3 and 3.2 48
student accountant February 200434 exam notes
PAPER 1.1 PREPARING FINANCIAL STATEMENTS (INT)
INTERNATIONAL ACCOUNTING STANDARDS (IASs)
No Title Issue date
1 Presentation of Financial Statements Aug 1997
2 Inventories Dec 1993

7 Cash Flow Statements (excluding groups and
foreign currency) Dec 1992
8 Net Profit or Loss for the Period, Fundamental
Errors and Changes in Accounting Policies Dec 1993
10 Events after the Balance Sheet Date May 1999
16 Property, Plant and Equipment Sept 1998
18 Revenue Dec 1993
35 Discontinuing Operations (Note 2) June 1998
37 Provisions, Contingent Liabilities and
Contingent Assets (Note 3) Sept 1998
38 Intangible Assets (Note 4) Sept 1998
OTHER STATEMENTS
Title Issue date
Framework for the Preparation and Presentation
of Financial Statements (Note 1) July 1989
NOTES
1 The IASB’s Framework for the Preparation and Presentation of
Financial Statements is examinable at an introductory level.
2 The following paragraphs of IAS 35 are examinable in so far as
they relate to disclosures previously in IAS 8 in relation to
Discontinuing Operations: 27, 31, 41.
3 The following paragraphs of IAS 37 are examinable in so far as
they relate to contingent liabilities and contingent assets: 10, 27-
35, 85-92, appendices A and B. The measurement rules in
paragraphs 36-52 are not examinable.
4 The following paragraphs of IAS 38 are examinable in so far as
they relate to research and development: 7, 39-47, 55, 79, 88,
107, 115.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. Both sections

will draw from all parts of the syllabus and will contain both
computational and non-computational elements. Paper 1.1 can also
be taken as a three-hour computer-based exam. The Study Guide
provides more detailed guidance on the syllabus.
Number of
marks
Section A: 25 compulsory multiple-choice questions
(2 marks each) 50
Section B: 5 compulsory questions
(8-12 marks each) 50
100
PAPER 1.1 PREPARING FINANCIAL STATEMENTS (GBR)
ACCOUNTING STANDARDS
STATEMENTS OF STANDARD ACCOUNTING PRACTICE (SSAPs)
No Title Issue date
9 Stocks and long-term contracts
(excluding long-term contracts) Sept 1988
13 Accounting for research and development Jan 1989
17 Accounting for post balance sheet events Aug 1980
FINANCIAL REPORTING STANDARDS (FRSs)
No Title Issue date
1 Cash flow statements (excluding group cash
flow statements) Oct 1996
3 Reporting financial performance
(excluding group aspects) Oct 1992
12 Provisions, contingent liabilities and
contingent assets (Note 1) Sept 1998
15 Tangible fixed assets (Note 2) Feb 1999
18 Accounting policies Dec 2000
NOTES

1 The following paragraphs of FRS 12 are examinable in so far as
they relate to contingent liabilities and contingent assets: 2, 3,
27-33, 91, 94, 96, 97 Appendix 2. The measurement rules in
paragraphs 36-55 are not examinable.
2 The following paragraphs of FRS 15 are examinable in so far as
they relate to tangible fixed assets: 1-7, 34-36, 42-46, 61, 63,
72, 77-82 and 93. In relation to paragraph 2, only the following
definitions are examinable: current value; depreciable amount;
depreciation; recoverable amount; residual value; tangible fixed
assets and useful economic life.
OTHER STATEMENTS
Title Issue date
Statement of Principles for Financial Reporting Dec 1999
For students sitting Paper 1.1, Chapters 1, 2 and 3 of the Statement
of Principles are examinable in detail. A detailed knowledge of the
remainder of the Statement of Principles is not examinable.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. Both sections
will draw from all parts of the syllabus and will contain both
computational and non-computational elements. Paper 1.1 can also
be taken as a three-hour computer-based exam. The Study Guide
provides more detailed guidance on the syllabus.
exam notes
ACCA applies a six-month rule. Questions requiring an
understanding of new legislation will not be set until at
least six calendar months after the last day of the month
in which the legislation received Royal Assent. For other
regulatory pronouncements such as FRSs and SASs, the
relevant date is the date of issue. Therefore, for the June
2004 exams the relevant ‘last day’ is 30 November 2003.

This may be before the implementation date.
student accountant February 200435 exam notes
Number of
marks
Section A: 25 compulsory multiple-choice questions
(2 marks each) 50
Section B: 5 compulsory questions
(8-12 marks each) 50
100
PAPER 2.5 FINANCIAL REPORTING (INT)
INTERNATIONAL ACCOUNTING STANDARDS (IASs)/
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRSs)
No Title Issue date
Preface to Statements of IASs
IAS 1* Presentation of Financial Statements Aug 1997
IAS 2* Inventories Dec 1993
IAS 7* Cash Flow Statements (Note 2) Dec 1992
IAS 8* Net Profit or Loss for the Period, Fundamental
Errors and Changes in Accounting Policies Dec 1993
IAS 10* Events after the Balance Sheet Date May 1999
IAS 11 Construction Contracts Dec 1993
IAS 12 Income Taxes Oct 1996
IAS 14 Segment Reporting Aug 1997
IAS 15 Information Reflecting the Effects of
Changing Prices Dec 1993
IAS 16* Property, Plant and Equipment Sept 1998
IAS 17 Leases Dec 1997
IAS 18* Revenue Dec 1993
IAS 20 Accounting for Government Grants and
Disclosure of Government Assistance Jan 1995

IAS 22 Business Combinations Sept 1998
IAS 23 Borrowing Costs Dec 1993
IAS 24 Related Party Disclosures Jan 1995
IAS 27 Consolidated Financial Statements and
Accounting for Investments in Subsidiaries Jan 1995
IAS 28 Accounting for Investments in Associates Sept 1998
IAS 31 Financial Reporting of Interests in Joint Ventures Sept 1998
IAS 32 Financial Instruments:
Disclosure and Presentation (Note 3) June 1995
IAS 33 Earnings per Share Feb 1997
IAS 34 Interim Financial Reporting Feb 1998
IAS 35* Discontinuing Operations June 1998
IAS 36 Impairment of Assets June 1998
IAS 37* Provisions, Contingent Liabilities and
Contingent Assets Sept 1998
IAS 38* Intangible Assets Sept 1998
IAS 39 Financial Instruments:
Recognition and Measurement (Note 3) Dec 1998
IAS 40 Investment Property Apr 2000
IFRS 1 First-time Adoption of International Financial
Reporting Standards June 2003
NOTES
1 Statements marked * are also examinable, in whole or part, in
Paper 1.1.
2 IAS 7 is examinable for Paper 2.5 but excluding group cash flow
statements and cash flow statements involving foreign currency.
3 IAS 32 and IAS 39 are examinable to the extent that they deal with
the presentation and measurement of equity, debt and convertible
debt only.
OTHER STATEMENTS

Title Issue date
* Framework for the Preparation and
Presentation of Financial Statements July 1989
INTERPRETATIONS OF THE INTERNATIONAL FINANCIAL
REPORTING INTERPRETATIONS COMMITTEE (IFRIC)
No Title Issue date
SIC–1 Consistency – Different Cost Formulas
for Inventories Dec 1997
SIC–2 Consistency – Capitalisation of Borrowing Costs Dec 1997
SIC–3 Elimination of Unrealised Profits and Losses
on Transactions with Associates Dec 1997
SIC–9 Business Combinations – Classification either
as Acquisitions or Unitings of Interests July 1998
SIC–10 Government Assistance – No Specific Relation
to Operating Activities July 1998
SIC–14 Property, Plant and Equipment – Compensation
for the Impairment or Loss of Items Nov 1998
SIC–16 Share Capital – Reacquired Own Equity
Instruments (Treasury Shares) Jan 1999
SIC–17 Costs of an Equity Transaction Jan 2000
SIC–18 Consistency – Alternative Methods Jan 2000
SIC–22 Business Combinations – Subsequent Adjustment
of Fair Values and Goodwill Initially Reported July 2000
SIC–23 Property, Plant and Equipment
– Major Inspection of Overhaul Costs July 2000
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. It will contain a
mix of computational and discursive elements. Some questions will
adopt a scenario/case study approach.
Number

of marks
Section A: 1 compulsory question 25
Section B: Choice of 3 from 4 questions (25 marks each) 75
100
The Study Guide provides more detailed guidance on the syllabus.
You are advised to bring a calculator to the exam
hall for all papers. You are permitted to take a
noiseless, cordless, pocket-sized, programmable or
non-programmable calculator without printout or
graphic/word display facilities.
It is strongly recommended that you refer to articles
published in student accountant as part of your study
preparation for the exams.
student accountant February 200436 exam notes
PAPER 2.5 FINANCIAL REPORTING (GBR)
STATEMENTS OF STANDARD ACCOUNTING PRACTICE (SSAPs)
No Title Issue date
Foreword to Accounting Standards Jan 1993
4 Accounting for government grants July 1990
5 Accounting for Value Added Tax Apr 1974
9* Stocks and long-term contracts Sept 1988
13* Accounting for research and development Jan 1989
17* Accounting for post balance sheet events Aug 1980
19 Accounting for investment properties Nov 1981
21 Accounting for leases and hire purchase contracts Aug 1984
Segmental reporting June 1990
FINANCIAL REPORTING STANDARDS (FRSs)
No Title Issue date
1* Cash Flow Statements (excluding group cash
flow statements) (Note 2) Oct 1996

2 Accounting for Subsidiary Undertakings June 1992
3* Reporting Financial Performance
(excluding group aspects) Oct 1992
4 Capital Instruments Dec 1993
5 Reporting the Substance of Transactions Apr 1994
6 Acquisitions and Mergers Sept 1994
7 Fair Values in Acquisition Accounting Sept 1994
8 Related Party Disclosures Oct 1995
9 Associates and Joint Ventures Nov 1997
10 Goodwill and Intangible Assets Dec 1997
11 Impairment of Fixed Assets and Goodwill July 1998
12* Provisions, Contingent Liabilities and
Contingent Assets Sept 1998
14 Earnings per Share Oct 1998
15* Tangible Fixed Assets Feb 1999
16 Current Tax Dec 1999
18* Accounting Policies Dec 2000
19 Deferred Tax Dec 2000
OTHER STATEMENTS
No Title Issue date
Operating and Financial Review July 1993
Statement of Principles for Financial Reporting* Dec 1999
Financial Reporting Standards for Smaller Entities Dec 2001
IFRS 1 First-time Adoption of International Financial June 2003
Reporting Standards (Note 4)
ABSTRACTS
No Title Issue date
UITF Abstract 4 Presentation of long-term debtors
in current assets July 1992
UITF Abstract 5 Transfers from current assets to

fixed assets July 1992
UITF Abstract 15 Disclosure of substantial acquisitions Feb 1999
UITF Abstract 37 Purchases and sales of own shares Oct 2003
NOTES
1 Statements marked * are also examinable, in whole or part, in
Paper 1.1.
2 FRS 1 is examinable for Paper 2.5 but excluding group cash flow
statements and cash flow statements involving foreign currency.
3 Students should note that Chapters 1 and 3 of the Statement of
Principles are examinable in Paper 1.1. At Paper 2.5, students are
expected to be aware of the issues/reasons which have led to the
publication of the Statement of Principles, and to be able to
discuss the main thrust of the document.
4 Knowledge of International Accounting Standards other than IFRS
1 will not be examinable.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. It will contain a
mix of computational and discursive elements. Some questions will
adopt a scenario/case study approach. The Study Guide provides
more detailed guidance on the syllabus.
Number
of marks
Section A: One compulsory question 25
Section B: Choice of 3 from 4 questions (25 marks each) 75
100
PAPER 2.6 AUDIT AND INTERNAL REVIEW (INT)
ACCOUNTING STANDARDS
The accounting knowledge that is assumed for Paper 2.6 is the same
as that examined in Paper 2.5. Therefore, students studying for Paper
2.6 should refer to the International Accounting Standards listed under

Paper 2.5. However, Paper 2.6 only assumes a detailed knowledge of
accounting standards that are examinable in Paper 1.1.
INTERNATIONAL STANDARDS ON AUDITING (ISAs)
No Title
Glossary of terms
Preface to International Standards on Auditing and Related
Services
100 Assurance Engagements
120 Framework of ISAs
200 Objective and General Principles Governing an Audit of
Financial Statements
210 Terms of Audit Engagement
230 Documentation
240 The Auditor’s Responsibility to Consider Fraud and Error in
an Audit of Financial Statements
250 Consideration of Laws and Regulations in an Audit of
Financial Statements
exam notes
student accountant February 200437 exam notes
260 Communications of Audit Matters with Those Charged with
Governance
300 Planning
310 Knowledge of the Business
320 Audit Materiality
400 Risk Assessments and Internal Control
401 Auditing in a Computer Information Systems Environment
402 Audit Considerations Relating to Entities Using Service
Organisations
500 Audit Evidence
501 Audit Evidence – Additional Considerations for Specific Items

505 External Confirmations
510 Initial Engagements – Opening Balances
520 Analytical Procedures
530 Audit Sampling and Other Selective Testing Procedures
540 Audit of Accounting Estimates
560 Subsequent Events
570 Going Concern
580 Management Representations
610 Considering the Work of Internal Auditing
620 Using the Work of an Expert
700 The Auditor’s Report on Financial Statements
710 Comparatives
720 Other Information in Documents Containing Audited
Financial Statements
910 Engagements to Review Financial Statements
OTHER DOCUMENTS
No Title
IAPS 1000* Inter-bank Confirmation Procedures
IAPS 1005 The Special Considerations in the Audit of Small Entities
IAPS 1013 Electronic Commerce Effect on the Audit of Financial
Statements
IAPS 1014 Reporting by Auditors on Compliance with International
Financial Reporting Standards
Interim Terms of Reference and Preface to the International Standards
on Quality Control, Auditing, Assurance and Related Service
* Students will not be examined on the audit of banks. This document is
relevant to the extent that it applies to the confirmation of financial and
business relationships between banks and their non-bank customers.
NOTE
1 Students are advised that questions will be based on the principles

and good practice set out in the International Standards on Auditing.
OTHER GUIDANCE
ACCA’s ‘Rules of Professional Conduct’
Documents under ‘Other Guidance’ are examinable only to the extent that
they are relevant to topics specified in the Syllabus and Study Guide.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. The bulk of the
questions will be discursive but some questions involving
computational elements will be set from time to time.
Section A is compulsory. The questions will cover the key elements
of the syllabus relevant to both internal and external audit
assignments. Section B requires candidates to answer two out of three
questions. The questions will cover all areas of the syllabus. The Study
Guide provides more detailed guidance on the syllabus.
Number
of marks
Section A: 3 compulsory scenario-based questions
(no single question will exceed 25 marks) 60
Section B: Choice of 2 from 3 questions (20 marks each) 40
100
PAPER 2.6 AUDIT AND INTERNAL REVIEW (GBR)
ACCOUNTING STANDARDS
The accounting knowledge that is assumed for Paper 2.6 is the same
as that examined in Paper 2.5. Therefore, candidates studying for
Paper 2.6 should refer to the Accounting Standards listed under Paper
2.5. However, Paper 2.6 only assumes a detailed knowledge of
accounting standards that are examinable for Paper 1.1.
AUDITING STANDARDS AND GUIDELINES
THE AUDITING PRACTICES BOARD (APB)
Auditing Practices Board pronouncements are issued as Statements of

Auditing Standards (SASs) or Practice Notes (PNs), the former being
mandatory and the latter for guidance only, though they are indicators
of best practice. Publication of SASs and PNs will be preceded by an
Exposure Draft (ED), usually with a comment period of three months.
EDs are not examinable at Paper 2.6.
STATEMENTS OF AUDITING STANDARDS (SASs)
No Title Issue date
Glossary of terms
010 The Auditing Practices Board – Scope and Apr 2003
Authority of Pronouncements (Revised)
100 Objective and General Principles Governing an
Audit of Financial Statements Mar 1995
110 Fraud and Error Jan 1995
120 Consideration of Law and Regulations Jan 1995
130 The Going Concern Basis in Financial Statements Nov 1994
140 Engagement Letters Mar 1995
150 Subsequent Events Mar 1995
160 Other Information in Documents Containing
Audited Financial Statements (Revised) Oct 1999
200 Planning Mar 1995
210 Knowledge of the Business Mar 1995
exam notes
student accountant February 200438 exam notes
220 Materiality and the Audit Mar 1995
230 Working Papers Mar 1995
300 Accounting and Internal Control Systems and
Audit Risk Assessments Mar 1995
400 Audit Evidence Mar 1995
410 Analytical Procedures Mar 1995
420 Audit of Accounting Estimates Mar 1995

430 Audit Sampling Mar 1995
440 Management Representations Mar 1995
450 Opening Balances and Comparatives Mar 1995
470 Overall Review of Financial Statements Mar 1995
480 Service Organisations Jan 1999
500 Considering the Work of Internal Audit Mar 1995
520 Using the Work of an Expert Mar 1995
600 Auditors’ Reports on Financial Statements May 1993
601 Imposed Limitation of Audit Scope Mar 1999
610 Communication of Audit Matters to Those
Charged with Governance June 2001
AUDITING GUIDELINES
No Title Issue date
405 Attendance at stocktaking Oct 1983
OTHER DOCUMENTS
No Title Issue date
PN 13 The audit of small businesses July 1997
PN 16 Bank reports for audit purposes Aug 1998
Bulletin 2001/02* Revisions to the wording of auditors’
reports on financial statements
and the interim review report Jan 2001
Bulletin 2001/03 E-business: Identifying
Financial Statement Risks Apr 2001
Briefing Paper Providing assurance on the
effectiveness of internal control July 2001
Briefing Paper Effective communication between
audit committees and external
auditors Sept 2002
* Students will not be examined on those sections of this document
that deal with the review report, or Stock Exchange requirements.

NOTE
1 Students are advised that questions will be based on the
principles and good practice set out in the Auditing Standards
and Guidelines.
OTHER GUIDANCE
ACCA’s ‘Rules of Professional Conduct’
Documents under ‘Other Guidance’ are examinable only to the extent
that they are relevant to topics specified in the Syllabus and Study Guide.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. The bulk of the
questions will be discursive but some questions involving
computational elements will be set from time to time. Section A is
compulsory. The questions will cover the key elements of the syllabus
relevant to both internal and external audit assignments. Section B
requires candidates to answer two out of three questions. The
questions will cover all areas of the syllabus. The Study Guide
provides more detailed guidance on the syllabus.
Number
of marks
Section A: 3 compulsory scenario-based questions
(no single question will exceed 25 marks) 60
Section B: Choice of 2 from 3 questions (20 marks each) 40
100
PAPER 3.1 AUDIT AND ASSURANCE SERVICES (INT)
The accounting knowledge that is assumed for Paper 3.1 is the same as
that examined in Paper 2.5. Therefore, candidates studying for Paper
3.1 should refer to the Accounting Standards listed under Paper 2.5.
AUDITING STANDARDS AND PRACTICE STATEMENTS
INTERNATIONAL STANDARDS ON AUDITING (ISAs)
No Title

Glossary of Terms
Preface to International Standards on Auditing and Related
Services
100 Assurance Engagements
120 Framework of ISAs
200 Objective and General Principles Governing an Audit of
Financial Statements
210 Terms of Audit Engagement
220 Quality Control for Audit Work
230 Documentation
240 The Auditor’s Responsibility to Consider Fraud and Error in
an Audit of Financial Statements
250 Consideration of Laws and Regulations in an Audit of
Financial Statements
260 Communications of Audit Matters with Those Charged with
Governance
300 Planning
310 Knowledge of the Business
320 Audit Materiality
400 Risk Assessments and Internal Control
401 Auditing in a Computer Information Systems Environment
402 Audit Considerations Relating to Entities Using Service
Organisations
500 Audit Evidence
501 Audit Evidence – Additional Considerations for Specific Items
student accountant February 200439 exam notes
505 External Confirmations
510 Initial Engagements – Opening Balances
520 Analytical Procedures
530 Audit Sampling and Other Selective Testing Procedures

540 Audit of Accounting Estimates
545 Auditing Fair Value Measurements and Disclosures
550 Related Parties
560 Subsequent Events
570 Going Concern
580 Management Representations
600 Using the Work of Another Auditor
610 Considering the Work of Internal Auditing
620 Using the Work of an Expert
700 The Auditor’s Report on Financial Statements
710 Comparatives
720 Other Information in Documents Containing Audited
Financial Statements
800 The Auditor’s Report on Special Purpose Audit Engagements
810 The Examination of Prospective Financial Information
910 Engagements to Review Financial Statements
920 Engagements to Perform Agreed-Upon Procedures Regarding
Financial Information
930 Engagement to Compile Financial Information
INTERNATIONAL AUDIT PRACTICE STATEMENTS (IAPSs)
No Title
1005 The Special Considerations in the Audit of Small
Entities
1010 The Consideration of Environmental Matters in the
Audit of Financial Statements
1013 Electronic Commerce: Effect on the Audit of
Financial Statements
1014 Reporting by Auditors on Compliance with
International Financial Reporting Standards
EXPOSURE DRAFTS (EDs)

Title Issue date
Preface to the International Standards on Quality Control,
Auditing, Assurance and Related Services Oct 2002
Audit Risk Oct 2002
Amendment to ISA 200 Oct 2002
Understanding the Entity and its Environment and
Assessing the Risks of Material Misstatement Oct 2002
The Auditor’s Procedures in Response to Assessed Risks Oct 2002
Audit Evidence Oct 2002
Revised ISA 240 The Auditor’s Responsibility to Consider Aug 2003
Fraud in an Audit of Financial Statements
Revision to Code of Ethics for Professional Accountants Nov 2003
OTHER GUIDANCE (Note 3)
ACCA’s ‘Rules of Professional Conduct’
IFAC’s ‘Code of Ethics for Professional Accountants’
The Combined Code (of the Committee on Corporate Governance)
IAASB Paper ‘Financial Reporting on the Internet: Responsibilities of
directors and management’
NOTES
1 Students are advised that questions will be based on the principles
and good practice set out in the International Standards on Auditing.
2 Topics of EDs are examinable. However, detailed knowledge of the
content of EDs is examinable to the extent that relevant articles are
published in student accountant.
3 Documents under ‘Other Guidance’ are examinable only to the
extent that they are relevant to topics specified in the Syllabus and
Study Guide.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. Questions in
both sections will be almost entirely discursive. However, candidates

will be expected, for example, to be able to assess materiality and
calculate relevant ratios where applicable. The Study Guide provides
more detailed guidance on the syllabus.
Number
of marks
Section A: 3 compulsory questions 70
Section B: Choice of 2 from 3 questions (15 marks each) 30
100
PAPER 3.1 AUDIT AND ASSURANCE SERVICES (GBR)
The accounting knowledge that is assumed for Paper 3.1 is the same as
that examined in Paper 2.5. Therefore, candidates studying for Paper
3.1 should refer to the Accounting Standards listed under Paper 2.5.
AUDITING STANDARDS AND GUIDANCE
STATEMENTS OF AUDITING STANDARDS (SASs)
No Title Issue date
Glossary of terms
010 The Auditing Practices Board – Scope and Apr 2003
authority of pronouncements (Revised)
011 The Auditors’ Code Feb 1996
100 Objective and general principles governing an
audit of financial statements Mar 1995
110 Fraud and error Jan 1995
120 Consideration of law and regulations Jan 1995
130 The going concern basis in financial statements Nov 1994
140 Engagement letters Mar 1995
150 Subsequent events Mar 1995
160 Other information in documents containing
audited financial statements (Revised) Oct 1999
200 Planning Mar 1995
210 Knowledge of the business Mar 1995

exam notes
ACCA applies a six-month rule. Questions requiring an
understanding of new legislation will not be set until at
least six calendar months after the last day of the month
in which the legislation received Royal Assent. For other
regulatory pronouncements such as FRSs and SASs, the
relevant date is the date of issue. Therefore, for the June
2004 exams the relevant ‘last day’ is 30 November 2003.
This may be before the implementation date.
student accountant February 200440 exam notes
220 Materiality and the audit Mar 1995
230 Working papers Mar 1995
240 Quality control for audit work (Revised) Sept 2000
300 Accounting and internal control systems and
audit risk assessments Mar 1995
400 Audit evidence Mar 1995
410 Analytical procedures Mar 1995
420 Audit of accounting estimates Mar 1995
430 Audit sampling Mar 1995
440 Management representations Mar 1995
450 Opening balances and comparatives Mar 1995
460 Related parties Nov 1995
470 Overall review of financial statements Mar 1995
480 Service organisations Jan 1999
500 Considering the work of internal audit Mar 1995
510 The relationship between principal
auditors and other auditors Mar 1995
520 Using the work of an expert Mar 1995
600 Auditors’ reports on financial statements May 1993
601 Imposed limitation of audit scope Mar 1999

610 Communication of audit matters to those
charged with governance June 2001
PRACTICE NOTES (PNs)
No Title Issue date
PN 8 Reports by auditors under company
legislation in the United Kingdom Aug 1994
PN 13 The audit of small businesses July 1997
PN 16 Bank reports for audit purposes Aug 1998
Statement 913 Access to working papers by investigating accountants
DISCUSSION PAPERS (Note 2)
No Title Issue date
Prospective financial information:
challenging the assumptions Apr 1998
Fraud and audit: choices for society Nov 1998
Independent professional review May 2000
Aggressive earnings management June 2001
Briefing Paper Providing assurance on the
effectiveness of internal control July 2001
BULLETINS
No Title Issue date
B99/4 Review of interim financial information July 1999
B99/5 The Combined Code: Requirements of
auditors under the listing rules of the
London Stock Exchange Nov 1999
B99/6 The auditor’s statement on the summary
financial statement Dec 1999
2001/01 The electronic publication of auditors’
reports Jan 2001
2001/02 Revisions to the wording of auditors’
reports on financial statements and the

interim review report Jan 2001
2001/03 E-business: Identifying financial
statement risks Apr 2001
STATEMENT OF STANDARDS FOR REPORTING ACCOUNTANTS
(SSRA)
Title Issue date
Audit Exemption Reports Oct 1994
EXPOSURE DRAFTS (EDs)
Title Issue date
Draft Ethical Standards for Auditors Nov 2003
ES1 Integrity, objectivity and independence
ES2 Financial, business, employment and personal
relationships
ES3 Long association with the audit engagement
ES4 Fees, economic dependence, remuneration and
evaluation policies, litigation, gifts and hospitality
ES5 Non-audit services provided to audit clients
OTHER GUIDANCE
Title Issue date
ACCA’s ‘Rules of Professional Conduct’
IFAC’s ‘Code of Ethics for Professional Accountants’
The Combined Code (of the Committee on Corporate Governance)
IAPS 1014 – Reporting by Auditors on Compliance with International
Financial Reporting Standards Mar 2003
NOTES
1 Students are advised that questions will be based on the principles
and good practice set out in APB pronouncements.
2 Topics of Discussion/Consultation Papers/Exposure Drafts are
examinable to the extent that relevant articles about them are
published in student accountant.

3 Documents under ‘Other Guidance’ are examinable only to the
extent that they are relevant to topics specified in the Syllabus and
Study Guide.
APPROACH TO EXAMINING THE SYLLABUS
The examination is a three-hour paper in two sections. Questions in
both sections will be almost entirely discursive. However, candidates
will be expected, for example, to be able to assess materiality and
calculate relevant ratios where applicable.
Number
of marks
Section A: 3 compulsory questions 70
Section B: Choice of 2 from 3 questions (15 marks each) 30
100
exam notes
You are advised to bring a calculator to the exam
hall for all papers. You are permitted to take a
noiseless, cordless, pocket-sized, programmable or
non-programmable calculator without printout or
graphic/word display facilities.
It is strongly recommended that you refer to articles
published in student accountant as part of your study
preparation for the exams.
student accountant February 200441 exam notes
PAPER 3.6 ADVANCED CORPORATE REPORTING (INT)
* Students should note that items denoted by an asterisk are also
examinable in Paper 2.5.
INTERNATIONAL ACCOUNTING STANDARDS (IASs)/
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRSs)
No Title Issue date
IAS 1* Presentation of Financial Statements Aug 1997

IAS 2* Inventories Dec 1993
IAS 7* Cash Flow Statements (including groups and
foreign currency) Dec 1992
IAS 8* Net Profit or Loss for the Period, Fundamental
Errors and Changes in Accounting
Policies Dec 1993
IAS 10* Events after the Balance Sheet Date May 1999
IAS 11* Construction Contracts Dec 1993
IAS 12* Income Taxes Oct 1996
IAS 14* Segment Reporting Aug 1997
IAS 15* Information Reflecting the Effects of Changing
Prices Dec 1993
IAS 16* Property, Plant and Equipment Sept 1998
IAS 17* Leases Dec 1997
IAS 18* Revenue Dec 1993
IAS 19 Employee Benefits May 2002
IAS 20* Accounting for Government Grants and
Disclosure of Government Assistance Jan 1995
IAS 21 The Effects of Changes in Foreign Exchange
Rates (including financial statements of
foreign operations) Dec 1993
IAS 22* Business Combinations Sept 1998
IAS 23* Borrowing Costs Dec 1993
IAS 24* Related Party Disclosures Jan 1995
IAS 27* Consolidated Financial Statements and
Accounting for Investments in Subsidiaries Jan 1995
IAS 28* Accounting for Investments in Associates Sept 1998
IAS 29 Financial Reporting in Hyperinflationary
Economies Jan 1995
IAS 31* Financial Reporting of Interests in Joint

Ventures Sept 1998
IAS 32* Financial Instruments: Disclosure and
Presentation June 1995
IAS 33* Earnings per Share Feb 1997
IAS 34* Interim Financial Reporting Feb 1998
IAS 35* Discontinuing Operations June 1998
IAS 36* Impairment of Assets June 1998
IAS 37* Provisions, Contingent Liabilities and
Contingent Assets Sept 1998
IAS 38* Intangible Assets Sept 1998
IAS 39* Financial Instruments: Recognition and
Measurement Dec 1998
IAS 40* Investment Property Apr 2000
IAS 41 Agriculture Feb 2001
IFRS 1* First-time Adoption of International Financial June 2003
Reporting Standards
OTHER STATEMENTS
Title Issue date
*Framework for the Preparation and Presentation of
Financial Statements July 1989
INTERPRETATIONS OF THE INTERNATIONAL FINANCIAL
REPORTING INTERPRETATIONS COMMITTEE (IFRIC)
No Title Issue date
SIC–1* Consistency – Different Cost Formulas
for Inventories Dec 1997
SIC–2* Consistency – Capitalisation of Borrowing Costs Dec 1997
SIC–3* Elimination of Unrealised Profits and Losses on
Transactions with Associates Dec 1997
SIC–5 Classification of Financial Instruments
– Contingent Settlement Provisions May 1998

SIC–6 Costs of Modifying Existing Software June 1999
SIC–7 Introduction of the Euro May 1998
SIC–9* Business Combinations – Classification Either as
Acquisitions or Unitings of Interest July 1998
SIC–10* Government Assistance – No Specific Relation to
Operating Activities July 1998
SIC–11 Foreign Exchange – Capitalisation of Losses
Resulting from Severe Currency Devaluations July 1998
SIC–12 Consolidation – Special Purpose Entities Nov 1998
SIC–13 Jointly Controlled Entities – Non-monetary
Contributions by Venturers Nov 1998
SIC–14* Property, Plant and Equipment – Compensation
for the Impairment or Loss of Items Nov 1998
SIC–15 Operating Leases – Incentives Nov 1998
SIC–16* Share capital – Required Own Equity
Instruments (Treasury Shares) Jan 1999
SIC–17* Equity – Costs of an Equity Transaction Jan 2000
SIC–18* Consistency – Alternative Methods Jan 2000
SIC–19 Reporting Currency – Measurement and Presentation
of Financial Statements under IAS 21 and IAS 29 July 2000
SIC–20 Equity Accounting Method – Recognition of Losses July 2000
SIC–21 Income Taxes – Recovery of Revalued
Non-Depreciable Assets July 2000
SIC–22* Business Combinations – Subsequent
Adjustment of Fair Values and Goodwill
Initially Reported July 2000
SIC–23* Property, Plant and Equipment
– Major Inspection or Overhaul Costs July 2000
SIC–24 Earnings per Share – Financial Instruments
and other Contracts that may be Settled

in Shares Nov 2000
student accountant February 200442 exam notes
SIC–25 Income Taxes – Changes in the Tax Status
of an Enterprise or its Shareholders July 2000
SIC–27 Evaluating the Substance of Transactions in the
Legal Form of a Lease Feb 2000
SIC–28 Business Combinations – ‘Date of Exchange’ and
Fair Value of Equity Instruments Feb 2001
SIC–29 Disclosure – Service Concession Arrangements May 2001
SIC–30 Reporting Currency – Translation from
Measurement Currency to Presentation Currency May 2001
SIC–31 Revenue – Barter Transactions Involving
Advertising Services Aug 2001
SIC–32 Intangible Assets – Website Costs July 2001
SIC–33 Consolidation and Equity Method – Potential
Voting Rights and Allocation of Ownership Interests Aug 2001
EDS, DISCUSSION PAPERS AND OTHER DOCUMENTS
Candidates sitting Paper 3.6 are expected to be aware of the issues/
reasons which have led to the publication of the following documents,
indicated as examinable in the list below, and to appreciate the main
thrust of these documents.
Title Issue date
ED 2 Share-based Payment Nov 2002
ED 3 Business Combinations Dec 2002
ED 4 Disposal of Non-Current Assets and Presentation
of Discontinued Operations July 2003
ED 5 Insurance Contracts July 2003
Improvements to International Accounting Standards May 2002
Amendments to IAS 39, Financial Instruments:
Recognition and Measurement, and IAS 32, Financial

Instruments: Disclosure and Presentation June 2002
PAPER 3.6 ADVANCED CORPORATE REPORTING (GBR)
* Students should note that items denoted by an asterisk are also
examinable in Paper 2.5.
STATEMENTS OF STANDARD ACCOUNTING PRACTICE (SSAPs)
No Title Issue date
* Foreword to Accounting Standards Jan 1993
4* Accounting for government grants July 1990
5* Accounting for valued added tax Apr 1974
9* Stocks and long-term contracts Sept 1988
13* Accounting for research and development Jan 1989
17* Accounting for post balance sheet events Aug 1980
19* Accounting for investment properties Nov 1981
Amendment to SSAP 19 July 1994
20 Foreign currency translation (including
aspects on consolidation financial statements) Apr 1983
21* Accounting for leases and hire purchase contracts Aug 1984
25* Segmental reporting June 1990
FINANCIAL REPORTING STANDARDS (FRSs)
No Title Issue date
1* Cash Flow Statements (including group cash
flow statements) Oct 1996
2* Accounting for Subsidiary Undertakings June 1992
3* Reporting Financial Performance
(including group aspects) Oct 1992
4* Capital Instruments Dec 1993
5* Reporting the Substance of Transactions Apr 1994
6* Acquisitions and Mergers Sept 1994
7* Fair Values in Acquisition Accounting Sept 1994
8* Related Party Disclosures Oct 1995

9* Associates and Joint Ventures Nov 1997
10* Goodwill and Intangible Assets Dec 1997
11* Impairment of Fixed Assets and Goodwill July 1998
12* Provisions, Contingent Liabilities and
Contingent Assets Sept 1998
13 Derivatives and other Financial Instruments:
Disclosures Sept 1998
14* Earnings per Share Oct 1998
15* Tangible Fixed Assets Feb 1999
16* Current Tax Dec 1999
17 Retirement Benefits Nov 2000
18* Accounting Policies Dec 2000
19* Deferred Tax Dec 2000
OTHER STATEMENTS
Title Issue date
*Operating and Financial Review July 1993
*Statement of Principles for Financial Reporting Dec 1999
Interim reports Sept 1997
Financial Reporting Standards for
smaller entities (FRSSE) Dec 2001
URGENT ISSUES TASK FORCE (UITF) ABSTRACTS
Students sitting Paper 3.6 are expected to be aware of the issues/
reasons which have led to the publication of a UITF abstract indicated
as examinable in the list below, and their principal requirements.
* Documents denoted by an asterisk are also examinable in Paper 2.5.
No Title Issue date
Foreword to UITF Abstracts Feb 1994
UITF Abstract 4* Presentation of long-term debtors in
current assets July 1992
UITF Abstract 5* Transfers from current assets to

fixed assets July 1992
UITF Abstract 9 Accounting for operations in
hyperinflationary economies June 1993
UITF Abstract 11 Capital Instruments: issuer call options Sept 1994
UITF Abstract 13 Accounting for ESOP Trusts June 1995
exam notes