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CIMA Managerial Level

CIMA Managerial Level. FINANCIAL ACCOUNTING AND TAX PRINCIPLES - Paper P7 Jan 2006. Paper P6 Management Accounting Business Strategy. Paper P3 Management Accounting Risk & Control Strategy. Paper P9 Management Accounting Financial Strategy. Business Management Pillar.

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CIMA Managerial Level

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  1. CIMA Managerial Level FINANCIAL ACCOUNTING AND TAX PRINCIPLES - Paper P7Jan 2006

  2. Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk & Control Strategy Paper P9 Management Accounting Financial Strategy Business Management Pillar Management Accounting Pillar Financial Management Pillar CIMA SYLLABUS 2006 TOPCIMA Test of Professional Competence in Management Accounting STRATEGIC LEVEL Paper P5 Integrated Management Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis MANAGERIAL LEVEL Paper P4 Organisational Management & Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting & Tax Principles (Click Here)

  3. CIMA SYLLABUS 2006 Paper P7 Financial Accounting & Tax Principles (Click Here)

  4. CIMAPaper P7FINANCIAL ACCOUNTING AND TAX PRINCIPLES Examination Structure - Section A - 50 marks • Variety of objective test questions: multiple choice questions; complete the sentence; calculate a value; definition in a fixed number of words; list • Each question worth between 2 and 4 marks Section B – 30 marks • Six compulsory questions worth 5 marks each • A short scenario may be used which could relate to several questions Section C – 20 marks • A choice of one question from two • Mainly numerical questions • At least one will be preparation of financial statements (Click Here)

  5. Principles of Business Taxation (20%) Managing Short Term Finance (25%) Paper 7 Financial Accounting & Tax Principles Principles of Regulation of Financial Reporting (10%) Single Company Financial Accounts (45%) (Click Here)

  6. IAS 12 accounting and disclosure requirements Record keeping, deadlines and payments Indirect taxes collected by the company Direct taxes on company profits and gains Sources of tax rules Tax concepts Employee taxation International taxation Principles of Business Taxation (20%) Tax avoidance and tax evasion (Click Here)

  7. Working capital ratios & working capital cycle Managing Short Term Finance (25%) Working capital characteristics Baumol & Miller-Orr models Export finance Payment terms and settlement discounts The credit cycle and the payment cycle Age analyses of balances and establishing collection targets Purchasing and stock control; EOQ Short-term finance & principles of short-term investment Cash-flow forecasts and changing variables (Click Here)

  8. Single Company Financial Accounts (45%) Inventories IAS 2. • Related parties, IAS 24. Reporting performance; IASs 1; 8, 14, 18 & 35 Preparation of cash flow statements Construction contracts IAS 11 and IAS 23. •Post balance sheet events IAS 10. •Provisions & contingencies IAS 37 •Leases (lessee only) IAS 17 Preparation of financial statements of a single company, including statement of changes in equity Tangible non-current assets, IAS 16. • Intangible non-current assets IAS 38. • Impairment of assets IAS 36 Issue and redemption of shares, IAS 32 and IAS 39 (Click Here)

  9. GAAP based on prescriptive v principles based standards Process of developing an IAS Role and structure of IASB and IOSCO Elements in a regulatory framework External audit IASB’s Framework Ways in which IASs are used Principles of Regulation of Financial Reporting (10%) Need for regulation of accounts (Click Here)

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