[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-199243-en":3,"doc-seo-199243-105":31,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},199243,13056712833777,"Paura","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",4,"Exam","CPA Licensure Examination Syllabus - Financial Accounting and Reporting - Effective October 2022","CPA licensure examination syllabus for Financial Accounting and Reporting effective October 2022, detailing candidates’ ability to understand and apply accounting principles and standards. Topics include account nature and composition, initial recognition and measurement, subsequent events and transactions, impairment and other loss recognition, and related party transactions. Coverage extends to financial statement presentation and required disclosures, plus expectations for effective communication of financial accounting matters and entry-level competency aligned to professional interactions.","ANNEX “A”  \nTHE CPA LICENSURE EXAMINATION SYLLABUS  \nFINANCIAL ACCOUNTING AND REPORTING  \nEffective October 2022 Examination  \nThis subject covers the candidates’ ability to demonstrate understanding and application of accounting principles and standards relating to: nature and composition of accounts, initial recognition, measurement and valuation, subsequent events and transactions, subsequent measurement and recognition of losses due to impairment and other causes, related party transactions, financial statement presentation and disclosures.  \nThe candidates must have a working knowledge in the application of the various financial accounting and reporting standards relating to the above.  \nThe candidates must also be able to communicate effectively matters pertaining to the financial accounting work that will be handled.  \nThe knowledge of the candidates in the competencies cited above is that of an entry level accountant who can address the fundamental requirements of the various parties that the candidates will be interacting professionally in the future.  \nNew laws, standards and other issuances which are effective as of the date of the examination shall supersede the related topic listed in the syllabus and will be included in the examination, unless there is an advisory from the Board of Accountancy to the contrary.  \nThe examination shall have seventy (70) multiple choice questions.  \nThe syllabus for the subject is presented below.  \n1.0 Development of Financial Reporting Framework, Standard-Setting Bodies and Regulation of the Accountancy Profession  \n1.1 History, Development and Functions of the Standard-Setting Bodies  \n1.1.1 IASB  \n1.1.2 IFRIC and SIC  \n1.1.3 FRSC  \n1.1.4 PIC  \n1.2 Regulation and Environment of the Accounting Profession in the Philippines  \n1.2.1 The Professional Regulatory Board of Accountancy  \n1.2.2 The accredited professional organization of professional accountants in the Philippines  \n1.2.3 Sectors of the practice of accountancy profession and the accreditation requirements  \n2.0 Conceptual Framework, Accounting Process and Presentation of Financial Statements  \n2.1 The Conceptual Framework for Financial Reporting  \n2.1.1 Objective and status of the Conceptual Framework  \n2.1.2 Qualitative Characteristics of Useful Financial Information  \n2.1.3 Definition of, recognition and derecognition criteria and measurement bases for the elements of the financial statements  \n2.1.4 Concepts of capital and capital maintenance  \n2.2 The Accounting Process  \n2.2.1 The steps in the accounting process  \n2.2.2 The use of the special journals, general journal, subsidiary ledgers and general ledgers  \n2.2.3 Completing the accounting cycle, including use of worksheet, adjusting entries, closing entries and reversing entries.  \n2.3 Presentation of the Financial Statements  \n2.3.1 General features  \n2.3.2 Statement of Financial Position  \n2.3.2.1 Definition of elements  \n2.3.2.2 Classified Statement of Financial Position  \n2.3.3 Statement of Comprehensive Income  \n2.3.3.1 Nature of expense  \n2.3.3.2 Function of expense  \n2.3.3.3 Components of profit from continuing operations  \n2.3.3.4 Components of discontinued operations  \n2.3.4 Statement of Changes in Equity  \n2.3.5 Statement of Cash Flows  \n2.3.5.1 Sections of the statement of cash flows  \n2.3.5.2 Preparing cash flows from operations: direct and indirect methods  \n2.3.6 Notes to the Financial Statements  \n2.3.7 Computation and Disclosures of Earnings Per Share Information  \n2.3.7.1 Basic EPS  \n2.3.7.2 Diluted EPS  \n3.0 Cash and other Financial Assets  \n3.1 Cash  \n3.1.1 Nature and composition of cash  \n3.1.2 Preparing the bank reconciliation  \n3.1.3 Accounting for petty cash fund  \n3.2 Other Financial Assets (initial recognition, basis for classification, subsequent measurement, reclassification and presentation in the financial statements)  \n3.2.1 Financial assets at fair value through profit or loss  \n3.2.2 Financial assets at fair value through other compr","cbCaiiaAMmdBKQ0e","https://ap.wps.com/l/cbCaiiaAMmdBKQ0e","pdf",195934,2,1,26,"English","en",105,"# Development of Financial Reporting Framework, Standard-Setting Bodies and Regulation of the Accountancy Profession\n## History, Development and Functions of the Standard-Setting Bodies\n## Regulation and Environment of the Accounting Profession in the Philippines\n# Conceptual Framework, Accounting Process and Presentation of Financial Statements\n## The Conceptual Framework for Financial Reporting\n## The Accounting Process\n## Presentation of the Financial Statements\n# Cash and other Financial Assets\n## Cash\n## Other Financial Assets\n# Non-financial Assets\n## Inventories\n## Property, plant and equipment\n## Investment property\n## Intangible assets\n## Biological assets\n## Non-current assets held for sale (or disposal group)","[{\"question\":\"What is covered by the Financial Accounting and Reporting syllabus effective October 2022?\",\"answer\":\"It covers understanding and application of accounting principles and standards including initial recognition, measurement, subsequent events and transactions, impairment-related losses, related party transactions, and financial statement presentation and disclosures.\"},{\"question\":\"How is the examination structured for this subject?\",\"answer\":\"The examination includes seventy (70) multiple choice questions.\"},{\"question\":\"What happens when new laws or standards become effective as of the exam date?\",\"answer\":\"New laws, standards, and other issuances effective as of the examination date supersede related syllabus topics, and they are included in the examination unless the Board of Accountancy issues an advisory to the contrary.\"}]","CPA Licensure Examination Syllabus - Financial Accounting and Reporting - Effective October 2022 | 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