On successful completion of this subject, candidates should be able to:
1. Prepare the financial statements of companies, groups and associated undertakings, including overseas subsidiary undertakings, in accordance with International Financial Reporting Standards (IFRSs). These include a, statement of comprehensive income, statement of financial position, statement of changes in equity, and statement of cash flows.
2. Apply and explain the acquisition method of accounting and related disclosure requirements in financial statements and notes;
3. Interpret and apply IFRSs and interpretations adopted by the International Accounting Standards Board, and select the appropriate accounting treatment for transactions and events;
4. Analyze and evaluate financial statements and write detailed reports, tailored to the technical understanding of the different user groups.
5. Evaluate and discuss the main accounting issues currently facing the professional