The CIMA Qualification

The CIMA qualification is global management accounting qualification that covers all areas of reporting for a management accounting for decision making. The CIMA qualification, through its flexible methodology, blends helps students prepare well for the examination especially to those who are working professionals and wish to add a global qualification to their name.

CIMA, with its collaboration with the AICPA USA, is able to tap global markets and offers multiple routes to students basis their prior qualification. The value of the qualification is embedded within the CIMA robust mechanism that requires students to complete and prove that they have completed relevant 3 years of practical experience before they can be a qualified member - irrespective of completing all papers.

At AVC Learning, we offer several papers in the domains of Accounting, Finance and Performance Management to our students through a flexible learning solution.

Check out our online lectures to understand how do we help you gain the CIMA qualification

CIMA F1 - Financial reporting

The F1 examination covers IFRS standards with a comprehensive coverage areas including accounting, taxation and finance. The examination is core to deal with Multiple Choice Questions from different sections for the participants to attempt.

While the examination is detailed, the coverage expects the participants to understand the standards strongly on concepts and build a robust understanding on why a particular concept has a significance for accounting and reporting. A strong knowledge at F1 examination certainly builds the comfort at the operations case study examination.

We help you understand the standards and the underlying concepts better with the help of our lectures specifically built to cover the concepts with a deep-dive methodology dealing with why a particular reference is given in a IFRS.

Sharing a sample lecture link to help you know how do we teach it!

Broader Coverage:

Identify regulators and describe their role.

a. Identify the major regulators.

b. Describe what they do.

c. Explain why they regulate financial reporting.

• National regulators

• IFRS foundation

• IASB

• International Organisation for Securities Commissions (IOSCO)

• Standard setting process

• Differences between rules-based and principles-based regulations

• Others such as International Integrated Reporting Council (IIRC)

Apply corporate governance principles to financial reporting.

a. Describe the role of the board in corporate governance.

b. Apply corporate governance and financial stewardship principles to financial reporting.

• Need and scope for corporate governance regulations

• Different approaches to corporate governance regulations

Identify the main elements of financial statements.

a. Identify the main elements of financial statements contained in the IFRS conceptual framework.

• Objectives and overall purpose of financial reporting

• Qualitative characteristics of financial information

• Reporting entity and its boundaries

• Recognition (and derecognition)

• Measurement bases

• Presentation and disclosure

• Concept of capital maintenance

Explain specific financial reporting standards

Explain the specific financial reporting standards related to:

a. Non-current assets

b. Leases

c. Impairment

d. Inventory

e. Events after the period

• IAS 16 — Property, Plant & Equipment

• IFRS 5 — Non-current Assets Held for Sale or Discontinued Operations

• IFRS 16 — Leases

• IAS 36 — Impairment of Assets

• IAS 2 — Inventories

• IAS 10 — Events After the Reporting Period

Apply financial reporting standards to prepare basic financial statements.

Apply financial reporting standards to prepare:

a. Statement of financial position

b. Statement of comprehensive income

c. Statement of changes in equity

d. Statement of cash flows

• IAS 1 — Presentation of Financial Statements

• IAS 7 — Statement of Cash Flows

Distinguish between different types of taxes.

Distinguish between

a. Direct versus indirect

b. Corporate versus personal

• Features of direct and indirect taxes

• Features of corporate and personal taxes

Calculate tax for corporates

a. Explain the basis of taxation

b. Explain the difference between accounting profit and taxable profit

c. Calculate corporate tax

• Exempt income

• Income taxed under different rules

• Allowable expenditure

• Capital allowances

• Reliefs

• Tax on sale of asset

Explain some relevant issues that affect taxation

Explain:

a. Taxation across international borders

b. Ethics of taxation

• Corporate residence

• Types of overseas operations (e.g., subsidiary or branch)

• Double taxation

• Transfer pricing

• Tax avoidance

• Tax evasion

Distinguish between the types and sources of short-term finance.

Distinguish between

a. Types of short-term finance

b. Financial institutions

• Trade payables

• Overdrafts

• Short-term loans

• Debt factoring

• Trade terms

• Trade partners

• Banks

 

Explain and calculate operating and cash cycles.

Explain and calculate

a. Operating cycle

b. Cash flow cycle

• Inventory days

• Trade receivable days

• Trade payable days

Apply different techniques used to manage working capital

a. Apply policies relating to elements of operating and cash cycle

b. Prepare forecasts

c. Explain risks relating to working capital

• Receivables management

• Payables management

• Inventory management

• Risk of overtrading

• Short-term cash flow forecasting

• Investing short-term cash

CIMA F2 - Financial Management

The F2 examination covers IFRS standards with focus on group financial statements, several complex accounting scenarios and financial analysis. The examination is core to deal with Multiple Choice Questions from different sections for the participants to attempt.

While the examination is detailed, the coverage expects the participants to understand the standards strongly on concepts and build a robust understanding on why a particular concept has a significance for accounting and reporting. A strong knowledge at F2 examination certainly builds the comfort at the management case study examination.

We help you understand the standards and the underlying concepts better with the help of our lectures specifically built to cover the concepts with a deep-dive methodology dealing with why a particular reference is given in a IFRS.

Sharing a sample lecture link to help you know how do we teach it!

Broader Coverage:

Identify regulators and describe their role.

a. Identify the major regulators.

b. Describe what they do.

c. Explain why they regulate financial reporting.

• National regulators

• IFRS foundation

• IASB

• International Organisation for Securities Commissions (IOSCO)

• Standard setting process

• Differences between rules-based and principles-based regulations

• Others such as International Integrated Reporting Council (IIRC)

Apply corporate governance principles to financial reporting.

a. Describe the role of the board in corporate governance.

b. Apply corporate governance and financial stewardship principles to financial reporting.

• Need and scope for corporate governance regulations

• Different approaches to corporate governance regulations

Identify the main elements of financial statements.

a. Identify the main elements of financial statements contained in the IFRS conceptual framework.

• Objectives and overall purpose of financial reporting

• Qualitative characteristics of financial information

• Reporting entity and its boundaries

• Recognition (and derecognition)

• Measurement bases

• Presentation and disclosure

• Concept of capital maintenance

Explain specific financial reporting standards

Explain the specific financial reporting standards related to:

a. Non-current assets

b. Leases

c. Impairment

d. Inventory

e. Events after the period

• IAS 16 — Property, Plant & Equipment

• IFRS 5 — Non-current Assets Held for Sale or Discontinued Operations

• IFRS 16 — Leases

• IAS 36 — Impairment of Assets

• IAS 2 — Inventories

• IAS 10 — Events After the Reporting Period

Apply financial reporting standards to prepare basic financial statements.

Apply financial reporting standards to prepare:

a. Statement of financial position

b. Statement of comprehensive income

c. Statement of changes in equity

d. Statement of cash flows

• IAS 1 — Presentation of Financial Statements

• IAS 7 — Statement of Cash Flows

Distinguish between different types of taxes.

Distinguish between

a. Direct versus indirect

b. Corporate versus personal

• Features of direct and indirect taxes

• Features of corporate and personal taxes

Calculate tax for corporates

a. Explain the basis of taxation

b. Explain the difference between accounting profit and taxable profit

c. Calculate corporate tax

• Exempt income

• Income taxed under different rules

• Allowable expenditure

• Capital allowances

• Reliefs

• Tax on sale of asset

Explain some relevant issues that affect taxation

Explain:

a. Taxation across international borders

b. Ethics of taxation

• Corporate residence

• Types of overseas operations (e.g., subsidiary or branch)

• Double taxation

• Transfer pricing

• Tax avoidance

• Tax evasion

Distinguish between the types and sources of short-term finance.

Distinguish between

a. Types of short-term finance

b. Financial institutions

• Trade payables

• Overdrafts

• Short-term loans

• Debt factoring

• Trade terms

• Trade partners

• Banks

 

Explain and calculate operating and cash cycles.

Explain and calculate

a. Operating cycle

b. Cash flow cycle

• Inventory days

• Trade receivable days

• Trade payable days

Apply different techniques used to manage working capital

a. Apply policies relating to elements of operating and cash cycle

b. Prepare forecasts

c. Explain risks relating to working capital

• Receivables management

• Payables management

• Inventory management

• Risk of overtrading

• Short-term cash flow forecasting

• Investing short-term cash

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 - Updated content with additional discussions coverage

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