[AICPA 과목별 주요내용] FARE (1) - Conceptual Framework and Financial Reporting (25~35%)

Financial Accounting and Reporting 주요내용
(Wiley CPAexcel Exam Review 2017년판 기준)
Conceptual Framework and Financial Reporting (25~35%)

Financial Accounting Standards Board (FASB)

Role and Standard-Setting Process

• FASB and Standard Setting
• Accrual Accounting
• Financial Statements
• Financial Accounting Standards Codification

Conceptual Framework of Financial Reporting by Business Enterprises

• Objectives and Qualitative Characteristics
• Assumptions and Accounting Principles
• Constraints and Present Value

Fair Value Framework

• Fair Value Framework—Introduction and Definitions
• Recognition and Measurement
• Inputs and Hierarchy
• Disclosure Requirements

International Financial Reporting Standards (IFRS)

• IASB Accounting Standards
• IASB Framework
• IFRS for SMEs
• IFRS—General-Purpose Financial Statements

General-Purpose Financial Statements

Balance Sheet/Statement of Financial Position
Income Statement
Statement of Comprehensive Income
Statement of Changes in Equity
Statement of Cash Flows

• Sources and Uses of Cash
• Operating, Investing, and Financing Activities
• Operating Cash Flows—Indirect Method

Notes to Financial Statements

• Notes to Financial Statements
• Risks and Uncertainties
• Subsequent Events

Evaluating Financial Statements

• Ratios—Liquidity/Solvency and Operational
• Ratios—Profitability and Equity

Consolidated Financial Statements

Introduction to Consolidated Financial Statements
Consolidating Process

• Consolidation at Acquisition
• Consolidation Subsequent to Acquisition
• Consolidation Less than 100% Ownership

Intercompany (I/C) Transactions and Balances

• Intercompany I/C Transactions and Balances—Introduction
• Intercompany (I/C) Inventory Transactions
• Intercompany (I/C) Fixed Asset Transactions
• Intercompany (I/C) Bond Transactions
• IFRS—Consolidations

Combined Financial Statements
Variable Interest Entities (VIEs)
Exit or Disposal Activities and Discontinued Operations

Public Company Reporting Topics (SEC, EPS, Interim, and Segment)

U.S. Securities and Exchange Commission (SEC)

• SEC—Role and Standard-Setting Process
• SEC Reporting Requirements

Earnings per Share

• Introduction to Earnings per Share
• Basic Earnings per Share
• Diluted Earnings per Share
• Earnings per Share and IFRS

Segment Reporting
Interim Financial Reporting

• Interim Reporting Principles
• Interim Reporting—Details and IFRS

Special Purpose Frameworks

Cash, Modified Cash, Income Tax
Private Company Council