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AFAR · Introductory

AFAR — Advanced Financial Accounting & Reporting

Partnerships, business combinations and consolidation under PFRS.

Instructor: EKII Review Faculty AFAR · CPA Review Lecturer

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AFAR

Course content

16 modules · 49 lessons

1. Partnership Accounting 4 lessons

1.1 Nature, scope, and objectives
1.2 Formation
1.3 Operation / Dissolution / changes in ownership interest
1.4 Liquidation of partnership
End-of-module quiz — 3 questions

2. Corporate Liquidation 4 lessons

2.1 Statement of Affairs
2.2 Statement of Deficiency
2.3 Statement of Realization and Liquidation
2.4 Order of priority of claimants of company assets

3. Joint Arrangements (PFRS 11) 2 lessons

3.1 Joint Operations
3.2 Joint Venture (equity method)

4. Revenue Recognition (PFRS 15) 1 lessons

4.1 Revenue from Contracts with Customers
End-of-module quiz — 2 questions

5. Accounting for Home Office, Branch and Agency Transactions 4 lessons

5.1 Transactions on the books of home office and branch
5.2 Reconciliation of reciprocal accounts
5.3 Individual and combined financial statements
5.4 Accounting for agency transactions

6. Business Combination (PFRS 3) 3 lessons

6.1 Nature, scope, and characteristics
6.2 Statutory merger and consolidation (acquisition method)
6.3 Financial Statement Presentation
End-of-module quiz — 2 questions

7. Separate Financial Statements (PAS 27) 2 lessons

7.1 Investment in Subsidiaries, Associates and Joint Ventures
7.2 Accounting for dividends and related disclosures

8. Consolidated Financial Statements (PFRS 10) 1 lessons

8.1 Consolidation procedures
End-of-module quiz — 2 questions

9. Derivatives and Hedging Accounting (PFRS 9) 2 lessons

9.1 Accounting for Derivatives
9.2 Hedging Foreign Currency Exposures

10. Translation of Foreign Currency Financial Statements (PAS 21 / PAS 29) 3 lessons

10.1 Translation to Presentation Currency (closing/current rate method)
10.2 Translation to Functional Currency (remeasurement)
10.3 Restatement (hyperinflationary economy)

11. Not-for-Profit Organizations 4 lessons

11.1 Voluntary health and welfare organizations (VHWO)
11.2 Hospitals and other health care organizations
11.3 Colleges and Universities
11.4 Other NPOs (churches, museums, fraternities, associations)

12. Government Accounting - General Fund 4 lessons

12.1 Basic concepts in government accounting
12.2 Budget process
12.3 Government Accounting Manual (GAM)
12.4 Journal entries (Books of National Government Agency)

13. Cost Accounting 7 lessons

13.1 System of cost accumulation
13.2 Job-order Costing System
13.3 Process Costing System
13.4 Backflush / JIT Costing System
13.5 Activity-Based Costing System
13.6 Joint and By-Products
13.7 Service Cost Allocation
End-of-module quiz — 1 questions

14. Other Special Topics 2 lessons

14.1 Insurance contracts by insurers (PFRS 17)
14.2 Service Concession Arrangement (IFRIC 12)

Integrated Review & Mock Board Drills Add-on 3 lessons

Subject-wide rapid review
Full mock board simulation
Answer rationalization & debrief

Exam Techniques & Time Management Add-on 3 lessons

Question analysis & elimination
Time budgeting per item
Common traps & final reminders

This course includes

16 modules
49 lessons
Subject: Advanced Financial Accounting and Reporting
Level: Introductory
AI tutor & rationalization

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