INSTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS
OF RWANDA
CPA
A1.3
ADVANCED FINANCIAL
REPORTING
Study Manual
2nd edition February 2020,
,
, INSTITUTE OF CERTIFIED PUBLIC
ACCOUNTANTS OF RWANDA
Advanced Level
A1.3 ADVANCED FINANCIAL REPORTING
2nd Edition February 2020
This Manual has been fully revised and updated in accordance with the current syllabus/
curriculum. It has been developed in consultation with experienced tutors and lecturers.
© ICPAR
All copy right reserved
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in
any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written
permission of ICPAR.
Acknowledgement
We wish to officially recognize all parties who contributed to revising and updating this Manual, Our thanks are extended
to all tutors and lecturers from various training institutions who actively provided their input toward completion of this
exercise and especially the Ministry of Finance and Economic Planning (MINECOFIN) through its PFM Basket Fund
which supported financially the execution of this assignment
, TABLE OF CONTENTS
Unit
Title Page
1. The regulatory and conceptual frameworks of accounting 14
Structure of the IASc foundation 15
Development of an IFRS 17
The regulatory framework 17
The conceptual framework 18
The framework for the preparation and presentation of financial information 19
The qualitative characteristics of financial information 19
The elements of financial statements 22
International financial reporting 26
2. IAS 1 – presentation of financial statements 27
Introduction 28
Objective 28
Purpose of financial statements 28
Components of financial statements 28
Financial review by management 29
Structure, content and reporting 29
Sundry matters 29
Statement of financial position format 31
Statement of comprehensive income 33
Information to be presented either on the face of the income statement or in
the notes 35
Statement of changes in equity 36
Disclosure of significant accounting policies 37
3. IAS 16 – property, plant and equipment 38
Objective 39
Definition 39
Recognition 39
Initial measurement 39
2 A1.3 Advanced CPA EXAMINATION
Financial Reporting STUDY MANUAL
PUBLIC ACCOUNTANTS
OF RWANDA
CPA
A1.3
ADVANCED FINANCIAL
REPORTING
Study Manual
2nd edition February 2020,
,
, INSTITUTE OF CERTIFIED PUBLIC
ACCOUNTANTS OF RWANDA
Advanced Level
A1.3 ADVANCED FINANCIAL REPORTING
2nd Edition February 2020
This Manual has been fully revised and updated in accordance with the current syllabus/
curriculum. It has been developed in consultation with experienced tutors and lecturers.
© ICPAR
All copy right reserved
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in
any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written
permission of ICPAR.
Acknowledgement
We wish to officially recognize all parties who contributed to revising and updating this Manual, Our thanks are extended
to all tutors and lecturers from various training institutions who actively provided their input toward completion of this
exercise and especially the Ministry of Finance and Economic Planning (MINECOFIN) through its PFM Basket Fund
which supported financially the execution of this assignment
, TABLE OF CONTENTS
Unit
Title Page
1. The regulatory and conceptual frameworks of accounting 14
Structure of the IASc foundation 15
Development of an IFRS 17
The regulatory framework 17
The conceptual framework 18
The framework for the preparation and presentation of financial information 19
The qualitative characteristics of financial information 19
The elements of financial statements 22
International financial reporting 26
2. IAS 1 – presentation of financial statements 27
Introduction 28
Objective 28
Purpose of financial statements 28
Components of financial statements 28
Financial review by management 29
Structure, content and reporting 29
Sundry matters 29
Statement of financial position format 31
Statement of comprehensive income 33
Information to be presented either on the face of the income statement or in
the notes 35
Statement of changes in equity 36
Disclosure of significant accounting policies 37
3. IAS 16 – property, plant and equipment 38
Objective 39
Definition 39
Recognition 39
Initial measurement 39
2 A1.3 Advanced CPA EXAMINATION
Financial Reporting STUDY MANUAL
