On completion of the Diploma, candidates should be able to
CPA-Pakistan IFRS Course is designed around the syllabus of the CPA’s “Diploma in IFRS” program, the objective of which is to take participants through all the topics covered in the syllabus and help them prepare for the Diploma in IFRS examination conducted by the CPA-Pakistan.
|Section||Weightage||Learning hours||Number of lectures|
|One||10%||4 hours||1 lecture|
|Two||30%||16 hours||4 lecture|
|Three||40%||20 hours||5 lecture|
|Four||10%||4 hours||1 lecture|
|Five||10%||6 hours||1 lecture including revision|
|Total||100%||50 hours||12 lectures|
1. If you are a professional accountant or auditor who works in practice or business, and are qualified according to national accounting standards,
then you are eligible to take this Diploma financial reporting qualification.
2. If you are working professional, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
Diploma in IFRS examinations are held quarterly of year in April, July, October and, January. Diploma in IFRS is a program designed and owned by CPA-PAKISTAN, its examination is conducted by CPA-PAKISTAN. Its personnel have no role in the conduct or outcome of the Diploma in IFRS examinations. Examination centers are in most of the major cities of Pakistan and Gulf. For additional information on CPA-PAKISTAN or Diploma in IFRS please visit www.icpap.com.pk
Section OneAn overview of Financial Accounting and Reporting - An Overview
- Financial accounting in contemporary business environment.
- International accounting standard board (IASB) framework.
- Financial statements of unincorporated organizations i.e. sole traders, partnerships, non-trading organisations and single entry systems.
- Financial statements of incorporates organizations i.e. public and private limited companies.
Section TwoInternational Accounting Standards (IAS) in Practice
- Presentation of financial statement. (IAS-1).
- Inventories (IAS-2).
- Statement of Cash Flows (IAS-7).
- Accounting policies, Changes in Accounting Estimates and Errors (IAS-8).
- Events after the Reporting Period (IAS-10).
- Construction Contracts (IAS-11).
- Income Taxes (IAS-12).
- Property, Plant and Equipment (IAS-16).
- Leases (IAS-17).
- Revenues (IAS-18).
- Employees Benefits (IAS-19).
- Accounting for Government Grants and Disclosure of Government Assistance (IAS-20).
- The Effect of Changes in Foreign Exchange Rates (IAS-21).
- Related Party Disclosures (IAS-24).
- Accounting and Reporting by Retirement Benefit Plans (IAS-26).
- Separate Financial Statements (IAS-27).
- Investments in Associates and Joint Ventures (IAS-28).
- Financial Reporting in Hyperinflationary Economies (IAS-29).
- Financial Instruments: Presentation. (IAS-32).
- Earnings Per Share (IAS-33).
- Interim Financial Reporting (IAS-34).
- Impairment of Assets (IAS-36).
- Provisions, Contingent Liabilities and Contingent Assets (IAS-37).
- Intangible Assets (IAS-38).
- Investment in Property (IAS-40).
- Agriculture (IAS-41).
Section ThreeInternational Financial Reporting Standards (IFRS) in Practice
- First-time Adoption of International Financial Reporting Standards (IFRS-1).
- Share-based Payment (IFRS-2).
- Business Combinations (IFRS-3).
- Insurance Contracts (IFRS-4).
- Non-current Assets Held for Sale and Discontinued Operations (IFRS-5).
- Exploration for and Evaluation of Mineral Resources (IFRS-6).
- Operating Segments (IFRS-8).
- Financial Instruments (IFRS-9).
- Consolidated Financial Statements (IFRS-10).
- Joint Arrangements (IFRS-11).
- Disclosure of Interest in Other Entities (IFRS-12).
- Fair Value Measurement (IFRS-13).
- Regulatory Deferral Accounts (IFRS-14).
- Revenue from Contracts with Customers (IFRS-15).
- Leases (IFRS-16).
- Insurance Contracts (IFRS-17).
Section FourAnalysis and Interpretation of Financial Statements
- Comparative and common size analysis.
- Trend and index analysis.
- Gross profit and net profit analysis.
- Breakeven and cost volume and profit analysis.
- Ratios analysis.
Section FiveInternational Standards on Auditing (ISA) in Practice
- Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing (ISA-200).
- Agreeing the Terms of Audit Engagements (ISA-210).
- Quality Control for an Audit of Financial Statements (ISA-210).
- Audit Documentation (ISA-230).
- The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements (ISA-240).
- Consideration of Laws and Regulations in an Audit of Financial Statements (ISA-250).
- Communication with Those Charged with Governance (ISA-260).
- Communicating Deficiencies in Internal Control to Those Charged with Governance and Management (ISA-265).
- Planning an Audit of Financial Statements (ISA-300).
- Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (ISA-315).
- Materiality in Planning and Performing an Audit (ISA-320).
- The Auditor's Responses to Assessed Risks (ISA-330).
- Audit Considerations Relating to an Entity Using a Service Organization (ISA-402).
- Evaluation of Misstatements Identified during the Audit (ISA-450).
- Audit Evidence (ISA-500).
- Audit Evidence-Specific Considerations for Selected Items (ISA-501).
- External Confirmations (ISA-505).
- Initial Audit Engagements-Opening Balances (ISA-510).
- Analytical Procedures (ISA-520).
- Audit Sampling (ISA-530).
- Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures (ISA-540) .
- Related Parties (ISA-550).
- Subsequent Events (ISA-560).
- Going Concern (ISA-570).
- Written Representations (ISA-580).
- Special Considerations-Audits of Group Financial Statements - Including the Work of Component Auditors (ISA-600) .
- Using the Work of Internal Auditors (ISA-610).
- Using the Work of an Auditor's Expert (ISA-620).
- Forming an Opinion and Reporting on Financial Statements (ISA-700).
- Modifications to the Opinion in the Independent Auditor's Report (ISA-705).
- Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report (ISA-706).
- Comparative Information-Corresponding Figures and Comparative Financial Statements (ISA-710).
- The Auditor's Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements (ISA-720).
- Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks (ISA-800).
- Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement (ISA-805).
- Engagements to Report on Summary Financial Statements (ISA-810).