The FR 222 – Intermediate Financial Accounting Tuition Support Program is designed to provide a comprehensive understanding of cost accounting for CMA (ICMAB) candidates who will sit for the exam in Sep 2024. The entire course is divided into several chapters covering various topics.

This comprehensive course consists of a minimum of 30 live classes, totaling over 50 hours of instruction, ensuring students receive thorough coverage of the subject matter. If additional class is required to complete the course, extra schedule will be declared, and classes will be taken accordingly.

This course is designed to provide students with a comprehensive understanding of intermediate financial accounting principles and practices. Throughout the course, we will explore various topics including financial reporting standards, conceptual frameworks, ethical issues, and the preparation and analysis of financial statements.

The course begins with an introduction to financial reporting, covering the regulatory framework, international financial reporting standards (IFRS), and the role of standard-setting bodies. We will then delve into the conceptual framework of financial reporting, discussing its objectives, qualitative characteristics, and ethical considerations. We will also explore the reporting of current assets, current liabilities, inventories, property, plant, and equipment, intangibles, leases, and non-current liabilities.

Additionally, the course will cover financial instruments, revenue recognition, accounting for taxation, and the preparation of financial statements including the income statement, statement of financial position, statement of changes in equity, and cash flow statement. Throughout the course, students will gain practical skills in applying accounting standards to CMA exams and techniques to pass this subject.

Course Synopsis

1.     Live Classes 1 to 6: Foundations of Financial Reporting

Classes 1 and 2 introduce financial reporting, regulatory frameworks, and standard-setting bodies. We explore the conceptual framework, its objectives, qualitative characteristics, and ethical considerations. Classes 3 to 6 focus on reporting financial performance, covering income statements, comprehensive income, and other aspects such as earnings per share.

2.     Live Classes 7 to 13: Assets and Liabilities Reporting

These classes cover reporting current assets, liabilities, inventories, property, plant, equipment, intangible assets, leases, non-current liabilities, and financial instruments.

3.     Live Classes 14 to 20: Specialized Reporting Topics

We discuss specific reporting standards including revenue recognition (IFRS 15), taxation (IAS 12), and the preparation of financial statements.

4.     Live Classes 21 to 30: Application and Analysis

The final classes focus on applying learned principles to real-world scenarios, revenue recognition, taxation, and cash flow statement preparation.

In accordance, this course provides a comprehensive understanding of intermediate financial accounting principles and practices, enabling students to prepare, interpret, and analyze financial statements in accordance with IFRS to prepare you pass the FR 222 – Intermediate Financial Accounting (IFA).

Throughout the course, there will be revision sessions and practice exercises to reinforce learning and help you excel in the CMA exam. Finally, there will be two 100 marks tests to be taken online.