Description
CFE Financial Reporting
Table of Content
Chapter 1- Professional Education Program
Common Final Exam
Chapter 2- Case Writing techniques
Chapter 3- Navigating the CPA Canada Handbook – Accounting Part I – Financial Statements Presentation Chapter 4 – The Conceptual Framework for Financial Reporting IAS 1 – Presentation of Financial Statements Going Concern IAS 7, ASPE – 1540 – Statement of Cash Flows IAS 34 – Interim Financial Reporting Chapter 5 – ASPE 1800 – Unincorporated Businesses ASPE 1508 – Measurement Uncertainty ASPE 3841 – Economic Dependence Chapter 6 – IAS 8, ASPE 1560 – Accounting policies, changes in accounting estimates and errors Chapter 7 – IAS 10, ASPE 3820 – Events after the Reporting Period PART II – Assets Chapter 8 – IAS 2, ASPE 3031 – Inventories Chapter 9 – IAS 16, ASPE 3061, 3831– Property, Plant and Equipment IAS 16, ASPE 3831– Non-Monetary Transactions Chapter 10 – IAS 40 – Investment Property Chapter 11 – IAS 41, ASPE – 3041– Agriculture Chapter 12 – IAS 38, ASPE 3064 – Intangible Assets SIC 32 – Intangible Asset – Web Site Costs Chapter 13 – IAS 36, ASPE 3063, 3064 – Impairment of Assets IAS 36, ASPE 3064 – Goodwill Impairment Chapter 14 – IFRS 5, ASPE 3475 – Non-current Assets Held for Sale and Discontinued Operations Chapter 15 – IFRS 16, ASPE 3065 – Leases Chapter 16 – IAS 20, SIC 10, ASPE 3820 – Government Grants, Part III – Liabilities Outline of Financial Instruments’ Standards Chapter 17 – IAS 32 Financial Instruments: Presentation Chapter 18 – IFRS 9, ASPE 3856 – Financial Instruments: Recognition and Measurement Chapter 19 – IFRS 7 Financial Instruments Disclosures Chapter 20 – IFRS 13 Fair Value Measurement Chapter 21 – IAS 37, IFRIC 1, ASPE 3290, 3110 – Contingencies and Assets Retirement Obligations Chapter 22 – IAS 12, ASPE 3465 – Income Taxes ASPE 3805 – Investment Tax Credits Chapter 23 – IAS 23, ASPE 3850 – Borrowing Costs Part IV – Revenue Chapter 24 – IFRS 15 – Revenue from Contracts with Customers ASPE 3400 – Revenue Chapter 25 – IFRS 2, ASPE 3870 – Share-based payment Chapter 26 – IAS 21, ASPE 1651 – Changes in Foreign Exchange Rates Chapter 27 – IAS 19, ASPE 3462 – Employee Benefits Chapter 28 – IAS 24, ASPE 3840 – Related Party Transactions Chapter 29 – IAS 33 – Earnings per share Part V – Strategic Investments Outline of Standards – Investments Chapter 30 – IAS 27 – Separate Financial Statements Chapter 31 – IAS 28, ASPE 3051 – Investments in Associates and Joint Ventures Chapter 32 – IFRS 11, ASPE 3056 – Joint Arrangements Chapter 33 – IFRS 3, IFRS 10 – ASPE 1582, 1591, 1601, 1602 – Business Combinations & Consolidated Financial Statements Chapter 34 – IFRS 8 – Operating Segments Part VI – Not-for-Profit Organizations Chapter 35 – NPO 4400 – Financial Statement Presentation by Not-For-Profit Organizations Chapter 36 – NPO 4410, 4420 – Contributions – Revenue Recognition Chapter 37 – NPO 4420 – Contributions Receivable and Pledges Chapter 38 – NPO 4433, 4434 – Capital Assets Chapter 39 – NPO 4441- Collections Chapter 40 – NPO 4450 – Reporting Controlled and Related Entities Book Features Many features have contributed to the success of thousands of CPA candidates in passing the Common Final Evaluation (CFE) over the years. The following points outline just a few. Complete Technical Coverage This book covers all the financial reporting competencies in the required depth as specified in the CPA Competency Map. This information helps the CPA candidates planning to write the CFE to link the coverage of financial reporting topics to the CPA educational requirements. Emphasis on IFRS and ASPE This book covers the financial reporting topics by referencing each topic to the specific standards in IFRS, ASPE and ASNPO. The coverage of each topic is in the same order presented in the CPA Canada Standards and Guidance Collection (Exam Reference) to facilitate cross reference to the Standards. Key Differences between IFRS and ASPE At the end of each topic, an individual IFRS and ASPE icon highlights the items that are treated differently by the two sets of standards. The joint IFRS-ASPE icon indicates a direct comparison between the two approaches. Emphasis on Readability The readability of the text has been improved by using fewer abbreviations, plainer language, shorter sentences, numbered lists and clearer headings. The key words and terms are highlighted in the text. Effective Learning Techniques The text focuses mainly on the key learning points in the standards that are commonly tested in the CFE. Candidates learn exactly the topics that are assessed in cases in an effective, concise and complete coverage. Enhanced Comparison Flowcharts Throughout each topic, the comparison flowcharts enhance candidates’ ability to relate to and understand the standards. Flowcharts identify and alert candidates to the major differences and similarities between different standards. Flowcharts facilitate the understanding and reciting of the standards in an easy and feasible way. Superior Hints to Apply Standards Throughout each topic, you are presented with tips and hints to apply the standards into cases in order to correctly apply the complex criteria in a practical and easy way. The underlying hint icon alerts candidates to remember how to learn and apply the standards. Case Writing Techniques This book uses a practical approach to develop and build an effective problem-solving and writing technique for CFE purposes. The focus is on how to help CPA candidates to effectively develop a plan, perform an analysis, recommend a course of action, and debrief a case. Task-Based Simulations At the end of each standard, we have an opportunity assessment(s) that is in a format similar to cases used in the CPA program. This allows candidates to become familiar with the CFE format and on how to apply standards to analyze cases.