Aim of P2 Corporate Reporting
To apply knowledge, skills and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.
Syllabus
Main capabilities
1. Discuss the professional and ethical duties of the accountant
2. Evaluate the financial reporting framework
3. Advise on and report the financial performance of entities
4. Prepare the financial statements of groups of entities in accordance with relevant accounting standards
5. Explain reporting issues relating to specialised entities
6. Discuss the implications of changes in accounting regulation on financial reporting
7. Appraise the financial performance and position of entities
8. Evaluate current development
Intellectual levels
The syllabus is designed to progressively broaden and deepen the
knowledge, skills and professional values demonstrated by the
students on their way through the qualification.
The specific capabilities within the detailed syllabuses and study
guide are assessed at one of three intellectual or cognitive levels:
Level 1: Knowledge and comprehension
Level 2: Application and analysis
Level 3: Synthesis and evaluation
Very broadly, these intellectual levels relate to the three cognitive
levels at which the Knowledge module, the Skills module and the
Professional level are assessed.
EXAM
Exam format – comprise two sections
Reading & planning time: 15 minutes
Section A – one compulsory case study 50 marks
SectionB–choice of 2 from 3 questions 2 x 25 = 50 marks
100 marks
Examiner: Graham Holt
Examinable Documents
The documents listed as being examinable are the latest that were issued prior to 30 th September 2010 and will be examinable in June and December 2011 examination sessions.
International Accounting Standards (IASs) / International Financial Reporting Standards (IFRSs)
IAS 1 Presentation of Financial Statements
IAS 2 Inventories
IAS 7 Statement of Cash Flows
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
IAS 10 Events after the Reporting Period
IAS 12 Income Taxes
IAS 16 Property, Plant and Equipment
IAS 17 Leases
IAS 18 Revenue
IAS 19 Employee Benefits
IAS 20 Accounting for Government Grants and Disclosure of
Government Assistance
IAS 21 The Effects of Changes in Foreign Exchange Rates
IAS 23 Borrowing Costs
IAS 24 Related Party Disclosures
IAS 27 Consolidated and Separate Financial Statements
IAS 28 Investments in Associates
IAS 31 Interests in Joint Ventures
IAS 32 Financial Instruments: Presentation
IAS 33 Earnings per Share
IAS 34 Interim Financial Reporting
IAS 36 Impairment of Assets
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
IAS 38 Intangible Assets
IAS 39 Financial Instruments: Recognition and Measurement
IAS 40 Investment Property
IFRS 1 First-time Adoption of International Financial Reporting
Standards
IFRS 2 Share-based Payment
IFRS 3 Business Combinations
IFRS 5 Non-current Assets Held for Sale and Discontinued
Operations
IFRS 7 Financial Instruments: Disclosures
IFRS 8 Operating Segments
IFRS 9 Financial Instruments
IFRS For SMEs IFRS for small and medium sized entities
Other Statements
Framework for the Preparation and Presentation of Financial Statements
EDs, Discussion Papers and Other Documents
ED Simplifying earnings per share: Proposed amendments to
IAS 33
ED Improvements to IFRS 5
ED An improved conceptual framework for financial reporting.
Chapters 1 and 2
ED Fair value measurement
ED Management commentary
ED Financial instruments: amortised cost and impairment
ED Measurement of liabilities in IAS 37
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