Corporate Financial Reporting (CFR) (Paper-18) CMA Final Group 4

SECTION A: INDIAN ACCOUNTING STANDARDS [25%]

1. Specific Accounting Standards - 25% 

• Accounting Policies, Changes in Accounting Estimates and Errors (Ind AS 8) 
• Income Taxes (Ind AS 12) 
• Property, Plant and Equipment (Ind AS 16) 
• Leases (Ind AS 116) 1.5 The Effects of Changes in Foreign Exchange Rates (Ind AS 21) 
• Borrowing Costs (Ind AS 23) 
• Impairment of Assets (Ind AS 36) 
• Intangible Assets (Ind AS 38) 
• Share-based Payment (Ind AS 102)
• Operating Segments (Ind AS 108) 
• Fair Value Measurement (Ind AS 113) 
• Revenue from Contracts with Customers (Ind AS 115) 

SECTION B: VALUATION OF SHARES, ACCOUNTING, AND REPORTING OF FINANCIAL INSTRUMENTS AND NBFCs [15%]

2. Valuation of Shares (including Determination of Goodwill, Post-valuation of Tangible and Intangible Assets) - 5%

3. Accounting of Financial Instruments - 5%

4. NBFCs – Provisioning Norms, Accounting, and Reporting - 5%

SECTION C: ACCOUNTING FOR BUSINESS COMBINATION & RESTRUCTURING (IN COMPLIANCE WITH IND ASs) [20%]

5. Accounting for Business Combination and Restructuring - 20% 

• Introduction 
• Accounting for Business Combination (Basic Level) with Simple Examples 
• Absorptions, Amalgamations, External Reconstruction 
• Detailed Discussion on Business Combination 
• A Business Combination Achieved in Stages 
• Reverse Acquisition 
• Purchase of Shares from/Sale to Non-controlling Interest not Resulting in Loss of Control of the Acquirer 
• Sale of Holding resulting in Loss of Control of the Acquirer over the Acquiree 
• Business Combination under Common Control (Appendix C of Ind AS 103) 
• Disclosures 
• Difference between Ind AS 103 and AS 14. 
• Internal Reconstruction (Capital Reduction)

SECTION D: CONSOLIDATED FINANCIAL STATEMENTS AND SEPARATE FINANCIAL STATEMENTS (IN COMPLIANCE WITH IND ASs) [20%]

6. Consolidated Financial Statements and Separate Financial Statements - 20%

• Introduction to Consolidation 
• Concept of Significant Influence, Joint Control, and Control as per Ind AS 
• Consolidation Procedure for Investment in Associates, Joint Ventures, and Subsidiaries 
• Measurement of Fair Value of Net Assets, Non-controlling Interest, Goodwill/ Gain on Bargain Purchase, Consolidated Other Equity (including Measurement of Investments under Equity Method)
• Accounting and Reporting in Consolidated Financial Statements and in Separate Financial Statements at Acquisition Date - Introductory Examples. 
• Consolidated Financial Statements and Separate Financial Statements at Subsequent Reporting Date - Introductory Examples. 
• Consolidated and Separate Financial Statements of Group Entities - Advanced Level Discussion and Examples (including Inter-company Investments, Chain Holding, Crossholding and Other Relevant Matters) 
• Accounting and Reporting of Joint Operation. 
• Disclosures

SECTION E: RECENT DEVELOPMENTS IN FINANCIAL REPORTING [10%]

7. Recent Developments in Financial Reporting - 10%

• 4P Bottom Line Reporting 
• Sustainability Reporting and Global Reporting Initiative 
• Business Responsibility and Sustainability Report 
• Integrated Reporting 
• Corporate Social Responsibility Reporting in India 
• Environmental, Social, and Governance (ESG) 
• Human Resource Reporting 
• Value Added Statement 
• Economic Value Added and Market Value Added 
• Reporting through XBRL (eXtensible Business Reporting Language) 
• Quarterly Earnings Call Management 

SECTION F: GOVERNMENT ACCOUNTING IN INDIA [10%]

8. Government Accounting in India - 10%

• General Principles and Comparison with Commercial Accounting 
• Role of Comptroller and Auditor General of India 
• Role of Public Accounts Committee, Review of Accounts 
• Government Accounting Standards issued by Government Accounting Standards Advisory Board (GASAB) 
• Government Accounting and Reporting