2011

ACCA  DESIGNATION ACCA Qualification Levels Level 1: Certificate Level: Knowledge Module ( 3 subjects) Level 2: Fundamental Level: Skills...

IAS 10 Events after the Reporting Period (summary) The objective of this Standard is to prescribe: (a) when an entity should adjust its fi...

IAS 8  Accounting Policies, Changes in Accounting Estimates and Errors (summary) The objective of this Standard is to prescribe the criter...

IAS 7 Statement of Cash Flows (summary) The objective of this Standard is to require the provision of information about the historical cha...

IAS 2  Inventories (summary) The objective of this Standard is to prescribe the accounting treatment for inventories. A primary issue in ...

IAS 1  Presentation of Financial Statements (summary) This Standard prescribes the basis for presentation of general purpose financial st...

Risk Management What is RISK ? n n Risk can be considered “good”—that is, when the results are better than expected (higher returns)—or “b...

Owner's Equity (Shareholders Equity) Owner's Equity —along with liabilities—can be thought of as a source of the company's asset...

LIABILITIES Liabilities   They are obligations of the company; they are amounts owed to creditors for a past transaction and they usually h...

Certified Information Security Manager   ( CISM )   It is a certification for information security managers awarded by ISACA (formerly the...

Certified Information Systems Auditor   ( CISA ) Certified Information Systems Auditor ( CISA ) is a professional certification for informa...

The Chartered Financial Analyst (CFA)  It is an international professional certification offered by the CFA institute (formerly AIMR) to fi...

  PROVISION V.S. RESERVE  In the U.S. the use of the word reserve has been discouraged for several decades. In its place, the accounting pr...