Course Schedule: Corporate Reporting 2020 Q2

Course Dates

Start Date:                                     Recorded Phase videos available upon enrolment

End Date:                                      15 Aug 2020

 

Important Dates  

Exam Registration Start Date:   15 Jun 2020

Exam Registration End Date:     17 Jul 2020

Exam Date:                                  24 Aug 2020

Exam Results Release Date:      2 Oct 2020

 

Course Structure

Recorded Phase:                          7 sessions x 3-hour (students must watch the pre-recorded videos at their own time before the start of Taught Phase)

Taught Phase:                               7 sessions x 3-hour

Revision Phase:                            7 sessions x 3-hour

Total number of course hours:  63

Mock Exams:                                 2 (to be completed at home & submitted to tutor for marking)

 

Training Venue

150 Orchard Road #04-09, Orchard Plaza, S238841. The Meeting Suite

 

Class Size

Class is limited to 30 students on a first-come first-served basis. There is a 50% discount given on the course fee component if you sign up for both Corporate Finance and Strategic Business Management.

If you have further query or wish to enrol, please contact us at enquiry@cityacademy.sg.

Website: www.cityacademy.sg                         Tel: 6742 0300

 

2020 Schedule: Corporate Reporting 

No

Date  Day Timing

Topics

Recorded Phase (Students must watch the videos before the Taught Phase starts)

1

3 hours
(Jodie)

·      Introduction to this paper and three different question types

·      Short recap on principles and regulation

·      Revision of the audit aspects of this paper: Governance and ethics, corporate governance and planning and risk assessment and the Audit Process

2

3 hours
(Jodie)

·      Revision of the audit aspects continued: Evaluating ad testing controls, Audit evidence and Finalisation, review and completion, including audit reports.

3

3 hours
(Jodie)

·      Financial Statement analysis

·      Assurance and related services

·      Disclosing financial performance – recapping on FAR assumed knowledge which is heavily tested in CR: on Presentation of Financial Statements, Statement of Cash Flows, Related Party Disclosures, Operating Segments and NCA Held for Sale and Discontinued Operations

4

3 hours
(Jodie)

·      Reporting financial performance revisited- covering Distributable Profits and Operating Segments

·      Earnings per Share

5

3 hours
(Jodie)

·      Revenue and Construction contracts

·      Reporting of assets: PPE, intangibles and new at CR, Investments Properties

6

3 hours
(Jodie)

·      Assets and liabilities: including revision of impairments and the new CR part on Cash generating units and impairments

·      Finishing this phase with a mixed exam question on FR and auditing issues.

     Financing: Government grants and borrowing costs

7

3 hours
(Jodie)

·      Financing continued: Leases, including lessee accounting already seen at FAR but revisited along with sale and leaseback. New at CR- lessor accounting too.

·      Question practice to finish this phase, including FR and audit

Taught Phase

8

16 Jun Tue 7pm – 10pm
(Saminathan)

·      Financial instruments- Revision from FAR on the different classifications and then new areas on hedge accounting.

·      Question practice in CR style on financial instruments.

9

18 Jun Thu 7pm – 10pm
(Saminathan)

·       Remuneration- covering Employee Benefits (different types of pension schemes)

·      Remuneration contd – completing Employee Benefits and Share based payments

·      Question practice in CR style, covering topics

·      Pension scheme and share based payments.

10

23 Jun Tue 7pm – 10pm
(Saminathan)

·      Business combinations revision from FAR, including associate and joint ventures

·      Business combinations/ groups: revision of groups from FAR continued, but concentration in class on new syllabus areas, particularly changes in group structure.

11

25 Jun Thu 7pm – 10pm
(Saminathan)

·      Introduction to reporting foreign activities.

·      Reporting foreign activities contd – individual foreign exchange has already been seen at FAR, this is focusing on the new part of the standard- on how to translate an overseas subsidiary.

Question practice in CR style.

12

30 Jun Tue 7pm – 10pm
(Saminathan)

·      Deferred tax – this is completely new at CR.

·      Covering the theory of deferred tax,

     application to scenarios

13

1 Jul Wed 7pm – 10pm
(Chee H K)

·      Audit risk assessment

·      Audit procedures

·      Audit report

14

3 Jul Fri 7pm – 10pm
(Chee H K)

·      Audit risk assessment

·      Audit procedures

·      Audit report

Mock Exam 1 to be completed at home & submitted to tutor for marking by 14 Jul 2020

Revision Phase

15

10 Jul Fri 7pm – 10pm
(Saminathan)

·      This marks the beginning of the revision phase of study

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

16

17 Jul Fri 7pm – 10pm
(Saminathan)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

17

24 Jul Fri 7pm – 10pm
(Saminathan)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

18

7 Aug Fri 7pm – 10pm
(Saminathan)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

19

14 Aug Fri 7pm – 10pm
(Saminathan)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

20

15 Aug Sat 10am – 1pm
(Chee H K)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

21

15 Aug Sat 2pm – 5pm
(Chee H K)

·      Tailored question practice and debriefs of past exam questions to cover all areas of the syllabus

Mock Exam 2 to be completed at home & submitted to tutor by 5 Jul 2020

Download Course Outline

 

Course Tutor: Jodie Lucas

Jodie qualified as ACA at the age of 22.

After leaving audit practice in 2000, Jodie worked for Kaplan Financial for 16 years as an integral part of their Birmingham tutoring team - teaching ICAEW, ACCA and CIMA studies. She left Kaplan in search of some up-to-date practical experience to reinforce and complement her classroom delivery.

Jodie established her own company soon after and has built a portfolio of varied clients, dividing her time and energy between her continued passion for freelance lecturing for a number of providers in the UK and Dubai; and contract audit and advisory work for Deloitte.

She is enthusiastic and driven to help students to understand, apply and retain their technical knowledge gained from her subjects, not only to enable students to pass exams but to become better prepared in the work place.

She also remains involved with the ACCA as a writer of CBE material and has been involved in marking for the ACCAs’ equivalent Audit and Assurance paper.

Course Tutor: Saminathan

Sami is a renowned lecturer with over 30 years of teaching experience, having taught Accountancy-related programs since 1986. He specialises in corporate reporting and financial management. Each year, his classes consistently produce prize winners across the ACCA examinations. A strong believer in the importance of high-quality teaching to drive student results, Sami is known for simplifying the understanding of difficult concepts to layman terms. Thousands of students have benefited from his passionate teaching over the years, with most going on to achieve their professional qualifications. Sami ensures his teaching is consistent with the latest developments in the relevant fields to ensure students leave his classes ready to contribute in the workplace. He has also trained non-financial managers at large MNCs in the practical application of concepts taught in the classroom. Saminathan has a Bachelor in Economics from NUS and a CPA (Australia).

Course Tutor: Chee Hay Kheong

Fellow Chartered Accountant – Singapore

Fellow Certified Public Accountant – Australia

Mr. Chee spent more than 13 years in big 4 accounting firms in London and in Singapore, providing auditing, forensic accounting, computer audit and consulting services. He then joined a Korean conglomerate as a General Manager it its venture fund division. Mr. Chee was then headhunted to be the Managing Director of a European company listed on a European stock exchange. He was subsequently promoted to its Asia Managing Director. After retiring from the corporate world, Mr. Chee assumed the appointment of an adjunct associate professor in the NUS Business School for eight years. He is now an adjunct professor in the business school of Singapore University of Social Sciences.

 

CORPORATE REPORTING

The aim of this module is to enable students to apply technical knowledge, analytical techniques and professional skills to resolve compliance and business issues that arise in the context of the preparation and evaluation of corporate reports and from providing audit services.

Students will be required to use technical knowledge and professional judgement to identify, explain and evaluate alternatives and to determine the appropriate solutions to compliance issues, giving due consideration to the needs of clients and other stakeholders. The commercial context and impact of recommendations and ethical issues will also need to be considered in making such judgements.

On completion of this module, students will be able to:

  • Formulate, implement and evaluate corporate reporting policies for single entities and groups of varying sizes and in a variety of industries. They will be able to discern and formulate the appropriate financial reporting treatment for complex transactions and complex scenarios. Students will be able to evaluate and apply technical knowledge from individual accounting standards and apply professional skills to integrate knowledge where several accounting standards are simultaneously applicable and interact.
  • Analyse, interpret, evaluate and compare financial statements of entities both over time and across a range of industries.
  • Explain the processes involved in planning an audit, evaluating internal controls, appraising risk including analysing quantitative and qualitative data and using data analytics, gathering evidence and drawing conclusions in accordance with the terms of the engagement. In addition, they will be able to perform a range of assurance engagements and related tasks.
  • Evaluate corporate reporting policies, estimates and disclosures in a scenario in order to be able to assess whether they are in compliance with accounting standards and are appropriate in the context of audit objectives.
  • Identify and explain ethical issues. Where ethical dilemmas arise, students will be able to recommend and justify and determine appropriate actions and ethical safeguards to mitigate threats.

 

PRIOR KNOWLEDGE

This module assumes and develops the knowledge and skills acquired in the Financial Accounting and Reporting module and in the Audit and Assurance module. Background knowledge based upon the strategic elements of the Business Planning modules, Business Strategy and Technology and Financial Management modules will also be required in evaluating the business and financial risks of reporting entities.

 

METHOD OF ASSESSMENT:

The Corporate Reporting module will be examined as a 3.5 hour exam. Each exam will contain questions requiring integration of knowledge and skills, including ethics and will consist of three questions. Ethical issues and problems could appear in any of the three questions. The exam will be open book and will permit students to take any written or printed material into the exam, subject to practical space restrictions.

 

Syllabus area Weighting (%)

Corporate Reporting –

  • Compliance Corporate Reporting & Financial statement analysis 55-65
  • Audit and Assurance 30-40
  • Ethics 5-10

 

Course Objective and Approach

The course is planned to prepare you for success in the Aug 2020 Corporate Reporting exam. This is our key objective. We assume that you have done some preparatory work prior to the commencement of the course and that we can build on this through the duration of the course. This assumes you have completed and passed or attained a relevant exemption from the ICAEW Professional Audit & Assurance paper and the Financial Accounting and Reporting paper (IFRS).

The course will consist of 3 phases –

  • a pre-recorded video phase for revise prior assumed knowledge (7 sessions);
  • a lecture-based taught phase to cover new knowledge at corporate reporting (7 sessions);
  • a revision phase (7 sessions).

Lectures will follow the content of BPP course notes and will include extensive practice on questions from the ICAEW Question Bank, even during the taught phase.

You will be given Mock Exam 1 (ME 1) towards the end of the Taught Phase.
You will be given Mock Exam 2 (ME 2) towards the end of the Revision Phase.
City Academy’s tutors will mark and review your ME scripts so as to benefit your learning outcome. You will have the flexibility of practising the ME at your own time at home but you must submit your ME answer scripts by the due date set. You may also be given homework, assignments or additional reading materials.

The course is interactive and you will be encouraged to participate in class discussions.

“Completeness” is a key audit assertion. To meet the key course objective of exam success you need to be complete in your exam preparation. The course is aimed at exposure/coverage to/of most significant exam matters, and focuses on how these matters will be examined and prepares you with question practise and tips in answering this ICAEW paper. You will be expected to attend all lectures and any supplementary tutorials, complete all course assignments and sit for and submit all ME answers.

 

CITY ACADEMY, ICAEW GLOBAL PARTNER IN LEARNING

~ Working with ICAEW in the professional development of students ~