ACCA Strategic Business Reporting (SBR) is one among the compulsory Professional Level papers. This course delves extensively into complex business scenarios and transactions, encompassing both individual and group companies. Compared to Financial Reporting, here the focus is not merely preparing or analysing a complete set of financial statement, rather it is to analyze the business scenario and apply accounting principles accordingly.
Syllabus Contents
1. Conceptual and Regulatory Framework: These form the foundational principles upon which the accounting standards are made and using which financial statements are crafted. In this context, we explore the qualitative attributes of effective financial statements, the constituent elements therein, fundamental terminologies, and the key concepts underpinning the process of financial statement preparation. Additionally, we delve into the regulatory authorities tasked with establishing and revising accounting standards.
2. Accounting Standards: These provide the direction on how to deal with various transactions based on IAS and IFRS. To put it technically, it deals with Initial Recognition, Subsequent measurement and Derecognition of items in the financial statement.
3. Preparation of Single Entity Financial Statements: Once all principles and accounting standards are ready, now we start preparing the financial statement for Individual companies. Here we will learn to prepare:
a) Statement of Financial Position (SOFP)
b) Statement of Profit and Loss and Other Comprehensive Income (SOPL & OCI)
c) Statement of Changes in Equity (SOCIE)
d) Statement of Cashflows (SOCF)
4. Preparation of Consolidated Financial Statements: This area deals with the preparation of Financial Statements, but now for Group companies. We will learn how to prepare:
a) Consolidated Statement of Financial Position
b) Consolidated Statement of Profit and Loss and Other Comprehensive Income
c) Consolidated Statement of Cashflows
d) Impact of Foreign Subsidiaries in Consolidated Financial Statement
5. Interpretation of Financial Statements: Subsequently, following the preparation of financial statements, we delve into the art of interpreting these figures and conducting a comprehensive analysis that extends beyond mere numerical data. This segment focuses on the practice of financial statement analysis.
(PS: The syllabus may look almost similar to that of Financial Reporting. But trust me, there’s a lot coming in 🙂
Exam Format:
The examination will have a duration of 3 hours 15 minutes and will consist of two distinct sections:
Section A: 50 Marks (Comprising 2 Case Studies, worth 30 and 20 marks respectively)
Section B: 50 Marks (Comprising 2 Case Studies, worth 25 and 25 marks respectively)
The passing score for all ACCA papers is 50.
Once again, welcome to Strategic Business Reporting, and welcome to ATOMIC ACCA!
We look forward to seeing you in our lectures soon!
