Documentos de Académico
Documentos de Profesional
Documentos de Cultura
This subject covers the candidates’ ability to demonstrate understanding and application of accounting
principles and standards
relating to: nature and composition of accounts, initial recognition, measurement and valuation,
subsequent events and
transactions, subsequent measurement and recognition of losses due to impairment and other causes,
related party
The candidates must have a working knowledge in the application of the various financial accounting and
reporting standards
The candidates must also be able to communicate effectively matters pertaining to the financial
accounting work that will be
handled.
The knowledge of the candidates in the competencies cited above is that of an entry level accountant
who can address the
fundamental requirements of the various parties that the candidates will be interacting professionally in
the future.
Only new standards and other issuances shall be included in the examinations if these are in effect for at
least six (6) months at
1.2.1 AASC
1.2.2 FRSC
1.2.3 PIC
2.0 Presentation of Financial Statements ( PAS 1, PAS 8, PAS 10, PAS 7, PFRS 5, PAS 33, PAS 18 / PFRS 15)
(11.43%)
3.1 Financial Assets (PAS 7, PAS 32 & PAS 39 / PFRS 9, PFRS 7,PAS 28)
3.1.1 Cash & Cash Equivalents
3.1.3.1 Financial Assets at Fair Value through Profit or Loss (Except Derivatives)
1. The 11 Topics are now reduced to 7 major topics with very detailed subtopics.
3. Share-based payments which was previously under Equity is now part of Other
Topics.
4. Interim and Segment Reporting, Cash to Accrual and Small and Medium Entities
which were previously separate topics are now also under Other Topics.
5. Updates on special concerns are given more emphasis and are to include
requirements and considerations are lump into one new topic Updates on Special
Concerns.
6. New standards that have become effective prior and up to 2018 were integrated