Financial Accounting and Reporting 1The objective of this paper is to examine your understanding of the theoretical framework of accountancy, your ability to prepare and interpret accounting statements and to prepare appropriate accounts for specialised transactions. In addition to addressing more advanced applications of the topics covered in Paper 1 Financial Accounting 1 the syllabus covers the following areas: Accounting Theory International Accounting Standards Proprietorship

D Audit evidence

This syllabus aims to enable you to apply technical knowledge and professional skills to identify and resolve taxation issues that arise in the context of preparing tax computations and to advise on tax-efficient strategies for businesses and individuals

A Essential elements of the legal system

through the context of an integrated case study

C Working capital management

D Inheritance tax

the impact these budgets have

quality and capital investment

as will ethical and legal issues

E Employability and technology skills

capital structure

Business Law knowledge