CPA Outline

CourseOverview

A CPA requires a broad spectrum of knowledge and proficiency in it. So, the entire CPA exam syllabus is broken down into 4 sections, each section dealing with a body of related knowledge. Each of this section has its own syllabus and exam which you need to be proficient in, to crack the exam. The 4 sections of the CPA exam are as follows.

  • Auditing and Attestation (AUD),
  • Financial Accounting and Reporting (FAR)
  • Regulation (REG),
  • Business Environment Concepts (BEC)

Objectives

The CPA Program is a postgraduate professional program with the following broad objectives:

  • To impart knowledge of concepts in Accounting, Auditing, Taxation, Business Law, Management, and Information Technology.
  • To improve the ability to develop a framework for using purposes of decision-making.
  • To deepen insights into practical applications of Accounting in a dynamic business environment.
  • To develop appreciation of the interface between Accounting, and other areas like Economics, Marketing, HRM, Operations Management, Finance, IT & Strategy.
  • To facilitate the development and growth of Accounting Professionals as Business Managers.

Outline

Financial Accounting and Reporting

  • Provides an overview of the nature and purpose of accounting.
  • basic financial analysis
  • financial statements
  • the accounting cycle
  • accounting for cash
  • receivables
  • inventories
  • capital assets
  • short- and long-term liabilities
  • bonds
  • investments

Introductory Management Accounting

  • cost/volume/profit relationships
  • job-order and process costing
  • activity-based and direct and absorption costing
  • budgeting for standard costs such as:

Economics

  • basic microeconomic principles
  • macroeconomic principles

Statistics

  • statistical principles used in business from probability and decision theory
  • statistical sampling
  • hypothesis testing
  • simple and multiple linear regression
  • forecasting

Financial Reporting
Builds on the introductory financial accounting skills that you acquired in introductory financial accounting. This course focuses primarily on the assets side of the statement of financial position
Corporate Finance

  • securities valuations for stocks, bonds and options
  • the time value of money
  • capital budgeting
  • investment decisions
  • weighted average cost of capital
  • optimal capital structure
  • working-capital management
  • dividend policies

Audit and Assurance

  • the nature and purpose of audit and assurance engagements
  • the principles behind these engagements
  • planning
  • methodology
  • standards
  • documentation
  • evidence
  • materiality
  • risk
  • internal controls
  • audit testing
  • audit reports
  • current standards

Intermediate Management Accounting

  • pricing decision practices
  • cost behaviors
  • relevant costing
  • cost allocations
  • inventory
  • product mix

Performance Management

  • Provides an introduction to performance management in a business context
  • governance and corporate social responsibility
  • the development of corporate mission, vision and values
  • strategy formulation and execution, including environmental scanning, company and industry analysis
  • evaluation of strategic alternatives and measurement of their performance

Business Law
Tort law and contract law, covering specific contractual situations arising in transactions in:

Information Technology

  • the valuable role information systems (IS) play in business operations and management decision making
  • IS and IT concepts and e-business fundamentals
  • system planning, development, implementation and management