Principles of Financial Reporting
The Principles of Financial Reporting module provides candidates with knowledge of the Conceptual Framework and the Singapore Financial Reporting Standards (SFRS) to produce a complete set of financial statements for single entities, including basic notes to the accounts. Candidates will also be able to explain and advise on the application for the SFRS, demonstrating appropriate professional judgement. The Principles of Financial Reporting module provides foundation accounting knowledge for the Advanced Financial Reporting module and the Assurance module.
- Understand the components of the Conceptual Framework
- Assess the relevance and importance of ethics and professionalism in complying with accounting standards and position the body of knowledge within the wider legal framework in Singapore
- Apply the appropriate measurement and recognition criteria for the elements of the financial statements.
- Prepare a complete set of financial statements, including basic notes to the accounts, for a retail entity, a service entity, and a manufacturing entity.
No assessment or certificate is involved in this course. The Foundation Course allows entry into the Singapore CA Qualification for interested candidates without an accredited accountancy degree. Students may sit an external examination conducted by Singapore Accountancy Commission (SAC) after the course.
This course is ideal for candiates without an accredited accountancy degree who would like to prepare themselves for entry into the Singapore CA Qualification Professional Programme.
Students will be given a set of the learning pack prepared by LSBF tutor.
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