CPA-FINANCIAL, CPA Financial Accounting And Reporting Certification Topics

CPA-FINANCIAL, CPA Financial Accounting and Reporting is a very important exam that allows the experts to have authentic knowledge of dealing with the CPA technical topics that are related to the area of accounting and reporting which is very significant. Here, in this article, what we will give are the most important exam objectives that you need to practice to pass this exam.

CPA-FINANCIAL, CPA Financial Accounting and Reporting syllabus has been segregated in different topics that we have been stated for the students to account for percentage to learn in detail. The first is financial reporting and the regulatory framework covering ten percent, Conceptual framework of accounting covering ten percent, Accounting standards and concepts covering eight percent, Elements of financial statements covering seven percent, Theories of accounting and alternative methods of valuation covering ten percent, Reporting and disclosure ten percent, Statement of profit or loss and other comprehensive income five percent, Statement of financial position five percent, Statement of cash flows covering five percent, Ratio analysis and interpretation of financial statements covers ten percent, Consolidated financial statements cover thirteen percent, Equity accounting cover four percent and Accounting for foreign currency cover only three percent.

CPA-FINANCIAL, CPA Financial Accounting and Reporting certification exam topics on which the applicants have been validated are given here with elaboration for them to learn and pass it by knowing what they need to prepare and practice. The topic of financial reporting and the regulatory framework covers the learning knowledge of need for accounting, financial information and their information needs, identifying a reporting entity, the purpose and scope of financial reporting, accounting regulation including company law, local GAAP and IFRS, advantages and disadvantages of regulating financial statements, regulatory regimes vary between different countries, the International Accounting Standards Board (IASB) in the regulation of financial statements, need for International Financial Reporting Standards as a global means of regulating accounting, benefits of International Accounting Standards for national jurisdictions and the process involved, IASB introduces a new accounting standard.

The second topic of CPA-FINANCIAL, CPA Financial Accounting and Reporting is called Conceptual framework of accounting the purpose of a conceptual framework of accounting, conceptual frameworks are a necessary component of financial reporting, conceptual framework in the development of financial reporting standards, advantages and disadvantages of a conceptual framework, purpose of the IASB Conceptual Framework for Financial Reporting, process of accounting in situations where accounting standards do not exist and the conceptual framework in situations where accounting standards are not present.

The third topic is called Accounting standards and concepts in which the applicants learn about purpose of accounting standards, reason accounting standards, financial reporting, advantages and disadvantages of accounting standards, financial statements presentation of the financial performance and financial position of an entity, the principle of substance over form, accounting information, recording the economic substance of transactions rather than the legal form, differences between principles-based and rules-based systems of accounting, worldwide accounting standards, harmonization of accounting standards on companies and International Financial Reporting Standards in the harmonization process. Study guides are the best option to study for the CPA-FINANCIAL, CPA Financial Accounting and Reporting exam.

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