Description
Financial Reporting
Financial Reporting for CPA Section 3 is a KASNEB course. It prepares the learners to prepare financial statements for various entities and accounts for specialized transactions in both the public and private sectors. We provide free Financial Reporting CPA Section 3 notes in PDF and free KASNEB Financial Reporting past papers PDF.
Download free Financial Reporting CPA Section 3 PDF notes and past papers now for the new KASNEB syllabus 2021. Get all KASNEB resources and past papers. We are the largest repository in Kenya offering free KASNEB notes and revision papers
To pass KASNEB CPA Section 3 Financial Reporting New Syllabus 2021 exam, the student is expected to cover the following topics:
- Assets of financial statements
- Liabilities of financial statements- Employee benefits – Provisions, contingent liabilities and contingent assets – Income tax (current and deferred tax but not deferred tax in the case of groups)
- Further aspects of partnerships – Dissolutions (including piece-meal) – Amalgamation Conversion and sale of partnership firms
- Special transactions- Revenue recognition – Contracts with customers – Hire purchase and installment sales transactions, Government grants
- Financial statements for various types of businesses – Inventory and biological assets in agriculture – Insurance – Banks – Professional firms (lawyers and accountants) – Accounting for branches including foreign branches – Co-operative societies
- Published financial statements – Presentation of financial statements (income statement, statement of comprehensive incomes, statement of changes in equity, statement of financial position and the notes to financial statements) – Accounting policies, changes in accounting estimates and errors (prior period errors) – Fair value measurement
- Consolidated financial statements- Accounting for one subsidiary, Investments in associates and joint ventures
- Financial statements under IPSASs
- Emerging issues and trends in Financial Reporting.
KASNEB students are expected to grasp the foundations of Financial Reporting in preparation for exposure to the business environment. We encourage the KASNEB students to prepare for KASNEB CPA Section 3 exams adequately and have a proper grasp of the units.
Financial Reporting prepares the CPA students to become members of the Institute of Certified Public Accountants (ICPAK) in future. Students taking other courses like ACCA among other accounting courses will find this course helpful.
Many students and colleges have benefited from the resources offered by the Pass Exams Team.
Other units or courses in KASNEB CPA Section 3 include:
After completion of KASNEB CPA Section 3, the student is well equipped with skills and is on a career path to advancing to KASNEB CPA Section 4 which has the following units:
Download free KASNEB CPA Section 4 PDF notes and past papers now.
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