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Corporate Financial Reporting (Paper-17) CMA Final Group 4

Syllabus

SECTION A: GAAP AND ACCOUNTING STANDARDS [20 MARKS]
1. Accounting Standards
(a) Generally Accepted Accounting Principles in India
(b) Overview of Accounting Standards (AS)
(c) International Financial Reporting Standards
(d) Over View of Ind AS


SECTION B: ACCOUNTING OF BUSINESS COMBINATIONS & RESTRUCTURING [20 MARKS]

2. Accounting for Business Combinations & Restructuring (as per Ind AS)
(a) Relevant Terms, Types of merger, methods of accounting, treatment of Goodwill arising
on merger, Purchase consideration and settlement
(b) Accounting in books of vendor/ transferor and transferee
(c) Accounting for investment in subsidiary
(d) Accounting for Mergers / Acquisitions (including chain holdings, cross holdings, multiple holdings)
(e) Corporate Financial restructuring, Reconstruction Schemes, De-merger, Reverse merger
(f) Notes to Accounts & related disclosures under amalgamation


SECTION C: CONSOLIDATED FINANCIAL STATEMENTS [20 MARKS]
3. Group Financial Statements (as per Ind AS)
(a) Concept of a group, Purposes of consolidated financial statements, Consolidation procedures, Non-controlling interest, Goodwill, Treatment Pre-acquisition profit and Postacquisition profit and concept of Fair value at the time of acquisition.
(b) Consolidation with two or more subsidiaries, consolidation with foreign subsidiary.
(c) Consolidated Income Statement, balance Sheet and Cash Flow Statements for Group of companies.
(d) Impact on group financial statements at the point of acquisition
(e) Treatment of investment in associates in consolidated financial statements. Compare and contrast acquisition and equity methods of accounting
(f) Treatment of investment in joint ventures in consolidated financial statements


SECTION D: DEVELOPMENTS IN FINANCIAL REPORTING AND OTHER ITEM OF REPORTING [25 MARKS]
4. Recent trends in Financial Reporting

(a) Sustainability Reporting
(b) Triple Bottom Line Reporting
(c) Corporate Social Responsibility Reporting (CSR Reporting)
(d) Fair Value Measurement
(e) Integrated Reporting (IR)
(f) Business Responsibility Reporting

5. Valuation, Accounting and Reporting of Financial Instruments and others
(a) Recognition & Valuation Financial Instruments (Ind AS)
(b) GST Accounting
(c) NBFC – Provisioning Norms and Accounting
(d) Valuation of Shares
(e) Valuation of Goodwill

6. Share Based payments transactions (Ind AS)
7. Reporting Through XBRL (Extended Business Reporting Language)


SECTION E: GOVERNMENT ACCOUNTING IN INDIA [15 MARKS ]
8. Government Accounting
(a) General Principles and comparison with commercial accounting
(b) Role of Comptroller and Auditor General of India
(c) Role of Public Accounts Committee, Review of Accounts
(d) Government Accounting Standards issued by Government Accounting Standards Advisory Board (GASAB)
(e) Government Accounting and Reporting