SYLLABUS COMPARISON

Note: There is no change in any syllabus other than ITA, FR - 01, FR - 02 in CAF stage & AFR of CFAP stage.

Part of new syllabus P

Not part of new syllabus O

Introduction to Accounting Financial Reporting - 01 Financial Reporting - 02 Advance Financial Reporting (CFAP)

Effective Date: Autumn 2019 onwards Effective Date: Autumn 2019 onwards Effective Date: Autumn 2019 onwards Effective Date: Summer 2019 onwards

Old Syllabus New Syllabus Old Syllabus New Syllabus Old Syllabus New Syllabus Old Syllabus New Syllabus

Preparation of financial
statements in Preparation of Financial
Introduction to Preparation of component accordance with IFRS Statements in accordance with the
Introduction to accounting accounting of financial statements and its interpretation Consolidation Companies Act 2017 and IFRS IAS - 1 & 7 & Companies Act IAS - 7 (Consolidated)

Preparation of financial statements

of limited companies in line with
the requirement of the Companies
Act, 2017 and International Consolidation (IAS -
Financial Reporting Standards Consolidation (IAS - 27 & 28 27 & 28 & 21 + IFRS - 3 &
(excluding liquidations & 21 + IFRS - 3 & 5 & 10 & 5 & 10 & 11 & 12 + IFRIC -
Meaning P SOCI (IAS - 01) O reconstructions and mergers) 11 & 12) 22)

IFRS - 3 (Business Combination

Business types P SOFP (IAS - 01) O (goodwill and cost of investment) IAS - 34 P
IAS - 28 (Asssociate - one
Accounting Concepts O SOCF (IAS - 07) SOCF (IAS - 07) associate only) IAS - 29 IAS - 29 + IFRIC - 7
IFRS 10 Consolidated financial
statements (Preparation of CSOCI
User of Financials P SOCIE only(IAS - 01) SOFP & SOCI & CSOFP) IFRS - 8 O
Conceptual framework Overview of IPSAS +
Bookkeeping (Journal) for financial reporting Ratio anlaysis IAS - 8 Conceptual Framework Heading removed

Preparation of income &

No previous heading.
Part of component of
Elements P financial statements.
Sole Trader Final
Chart of accounts P Accounts
Income & Expenditure
Accounting equation P Account
expenditure account,
accounts from
incomplete records and
manufacturing account SOCIE O IPSAS - 1 P
IPSAS - Financial Reporting
under Cash Basis of
O SOCF O Accounting P
P IFRS Heading removed Conceptual Framework

Double entry P Incomplete records P Accounting for non-current Assets IFRS - 1 P

Books of prime entry P Manufacturing accounts IAS - 16 O IFRS - 2 P


Bookkeeping (Ledgers/TB)
Accounting for
transactions in the
P IAS/IFRS financial statements
IAS 38 Intangible assets
Recognition, de-recognition,
measurement, amortization and
measurement after recognition of
non-current assets (including SIC
32 Intangible Assets – Web Site
IAS - 38 Costs) IFRS - 4 Now IFRS - 17

Depreciation O Conceptual framework IAS - 17 Part of IFRS 16 now IFRS - 6 P

IFRS - 16 (Excluding modification, Financial Instruments

sale and lease back and Financial Instruments (IAS - (IAS - 32 & 39 + IFRS - 7
Allowance for Bad Debt P IAS - 2 O IFRS - 16 reassessment) 32 & 39 + IFRS - 7 & 9) & 9 + IFRIC - 16 & 19)
Prepayments & Accurals P IAS - 16 P IFRS - 9 (excluding derivatives) IFRS - 13 P

Closing Entries (Inven) O IAS - 18 Part of IFRS 15 now IAS - 23 Part of FR - 01 syllabus now IFRS - 14 P
Moved to other portion in same
Bank Reconciliation P IFRS - 15 P IAS - 10 & 37 syllabus IAS - 18 (Old IAS) Part of IFRS 15 now

Branch Accounts
Control Accounts O (Exclude Foreign Branch) O IAS - 36 Part of FR - 01 syllabus now IFRS - 15 P
Moved to other portion in same
Rectification of Errors P Partnership O IAS - 8 syllabus IAS - 17 (Old IAS) Part of IFRS 16 now

Preparation of financial
Sole trader financial statements / partnership
statements records Admission O IAS - 41 (Agriculture) IFRS - 16 P
SOFP P Retirement O Ethics and other Areas of IFRS. IAS - 2 O
SOCI P Death O Ethics (100 to 150 & 320) P IAS - 8 O

Receipt & Payment IAS - 12 (Income tax excluding

Accounts O Dissolution O IAS - 12 business combination) IAS - 10 O

Accounting for partnership Heading removed Amalgamation O IAS - 10 & 37 IAS - 10 & 37 including IFRIC - 01 IAS - 12 IAS - 12 & SIC 25

Preparation of partnership Moved to other portion

accounts P Financial analysis in same syllabus IAS - 33 O IAS - 16 P

Moved to other portion

Agreement Revision P Managerial accounting in same syllabus IFRS 8 Operating Segment IAS - 19 IAS - 19 & IFRIC - 14
Financial Analysis O IAS - 20 O
IAS 21 The effects of changes in
foreign exchange rates (foreign
New additions: New additions: exchange transactions) IAS - 23 O
IAS - 02 (Inventories) IAS - 20 (Govt Grant) IAS - 24 P
IAS - 16 (PPE excluding
dislosure and IAS - 23 (Borrowing
revaluation) Cost) New additions: IAS - 33 P
IAS - 36 (Impairment
other than CGU) IAS - 41 (Agriculture) IAS - 36 P
IAS - 40 (Investment
Property excluding
lease) IFRS 8 Operating Segment IAS - 37 O

IAS 21 The effects of changes in

foreign exchange rates (foreign
exchange transactions) IAS - 38 & SIC - 32 O
IFRS - 9 (excluding derivatives) IAS - 40 P
IFRIC - 01 IAS - 41 O
IFRIC - 1 O
IFRIC - 2 O
IFRIC - 5 O
IFRIC - 6 O
IFRIC - 7 Part of IAS - 29
IFRIC - 10 O
IFRIC - 12 O
IFRIC - 14 Part of IAS - 19
Part of Financial
IFRIC - 16 instruments
IFRIC - 17 O
Part of Financial
IFRIC - 19 instruments
IFRIC - 20 O
IFRIC - 21 O
SIC - 7 O
SIC - 10 O
SIC - 25 Part of IAS - 34
SIC - 29 O
Ratio analysis O
Professional Misconduct O
Code of Ehics O

Small & medium sized entities P

Banks P
Mutual funds P
Insurance companies P
IAS - 26 P

Overview of Islamic Accounting

Standards issued by ICAP P