ACA professional stage subject grids

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1 ACA professional stage subject grids HEI Degree programme(s) ACA Professional Stage Accounting Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Accounting syllabus can be accessed through our website together with a sample examination paper. Accounting Maintaining financial records (30%) Recording financial transactions Ledger account preparation Double entry principles Preparation of trial balances Adjustments to accounting records and financial statements (35%) Errors and omissions in accounting records and financial statements

2 Accounting Preparing basic financial statements (35%) Accounting concepts and conventions Costs of sales, accruals and prepayments Irrecoverable debts and allowances Inventories Non current assets and depreciation Company financial statements Sole trader financial statements Desirable Topics (coverage is not essential) Partnership financial statements Control accounts Suspense accounts Conversion of unincorporated entity into a company Development of students technical skills Please use this space to indicate how students technical skills are developed in the later years of the programme. 23

3 ACA Professional Stage Assurance Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Assurance syllabus can be accessed through our website together with a sample examination paper. Assurance The concept, process and need for assurance (20%) Concept of, and need for, assurance and the issues which can lead to gaps between the outcomes delivered and the expectations of users of assurance reports Purposes and characteristics of, and levels of assurance obtained from, different assurance engagements Overview of the assurance process Internal Controls (25%) Components of internal control Internal controls in revenue, purchases, inventory and payroll systems Internal audit Gathering evidence on an assurance engagement (35%) Form and content of documentation Evidence gathering assets and liabilities revenue and expenditure Sampling Management representations

4 Assurance Professional ethics (20%) Codes of professional ethics Confidentiality Integrity, objectivity and independence 25

5 ACA Professional Stage business and finance Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Business and Finance syllabus can be accessed through our website together with a sample examination paper. Business and Finance Business objectives and functions (30%) Objectives of business Strategic management process Functional areas of a business Management of and behaviour in organisations Business strategy and planning Different business forms and structures Risk and crisis management Role of finance and accounting (25%) Importance, types and uses of financial information The roles of the accounting and finance function Management use of performance measurement information Working capital and treasury/cash management

6 Business and Finance Role of the accountancy profession (15%) The public interest and the accounting profession Governance and ethics (15%) The role of governance and stakeholders Roles and responsibilities in corporate governance Professional ethics, business ethics and ethical culture in organisations External environment (15%) Demand, supply, market equilibrium and elasticity Market structures and failure Types and effects of regulation on businesses Stakeholder needs and their effects on businesses 27

7 ACA Professional Stage law Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Law syllabus can be accessed through our website together with a sample examination paper. Law Impact of civil law on business (40%) Formation of contract Termination of contract Agency Negligence Company and insolvency law (40%) Nature of companies Issue and transfer of shares Relationship of directors and shareholders Charges and debentures Insolvency Impact of law in professional context (20%) Access to information and criminal law Employee status and unfair and wrongful dismissal

8 ACA Professional Stage Management information Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Management Information syllabus can be accessed through our website together with a sample examination paper. Management Information Costing and pricing (25%) Cost classification and behaviour Absorption and marginal costing Pricing and transfer pricing Budgeting and forecasting (25%) Budgeting and forecasting Cash budgets Performance measurement (25%) Performance measures including return on investment and residual income Variance analysis Management decision making (25%) Breakeven (cost volume profit) and limiting factor analysis Investment appraisal (NPV, IRR, payback, ARR) 29

9 ACA Professional Stage principles of taxation Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Principles of Taxation syllabus can be accessed through our website together with a sample examination paper. Principles of Taxation Objectives, types of taxation and administration (20%) Income tax and national insurance (20%) Badges of trade Adjustments to profits Capital allowances Basis periods for sole traders (current year, opening and closing year rules only) Calculation of total income Calculation of income tax due and payable Impact of gift aid Calculation of employment income to include a good understanding of taxable benefits National insurance contributions Liability of individuals and employees to different classes Calculation of different classes

10 Principles of Taxation Capital gains tax and corporation tax on chargeable gains (20%) Calculation of gains for companies and individuals Calculation of indexation for companies Allowable costs Application of the chattel rules Identification of exempt assets and disposals Calculate CGT for individuals Corporation tax (20%) Calculation of profits chargeable to corporation tax Impact of a short or long period of account on tax rates Impact of associates on tax rates UK residency Calculation of corporation tax liability including marginal relief 31

11 Principles of Taxation VAT (20%) Difference between taxable and exempt supplies When to register and deregister Calculate output VAT Recoverable and blocked input VAT Tax points Accounting for VAT Schemes for small businesses Desirable but not essential for CPL Partnerships Ethics

12 ACA Professional Stage Business strategy Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Business Strategy syllabus can be accessed through our website together with a sample examination paper. Business Strategy Strategic analysis (35%) Nature and purpose of business The macro business environment Industry and market environment Strategic capability Strategic choice (35%) Strategic options Strategies for products and markets Strategy and organisational structure Management of risks Options for business growth Evaluation of strategy and performance measurement 33

13 Business Strategy Implementation of strategy (30%) Business planning and functional strategies Strategies for Information Change management and project management Ethics Please use this space to explain how business ethics is integrated into the programme

14 ACA Professional Stage financial management Subject Grid Please complete the grid giving details of the modules on which the application for credit is based and whether the topics have been three years. It is important that you tell us where topics are taught and assessed within the degree programme and also send sufficient referenced evidence to demonstrate that our learning outcomes have been met. Our Financial Management syllabus can be accessed through our website together with a sample examination paper. Financial Management Financial options (35%) Formulation of financial strategy Shareholder value analysis UK/international financial markets Sources of long-term finance and financing problems of small firms Strategies for developing and/or reconstructing a business Dividend policy Capital structure and gearing Cost of capital Capital market efficiency Rights issues Capital Asset Pricing Model Forecast financial statements and financing requirements 35

15 Financial Management Managing financial risk (30%) Financial risks facing a business Interest rate risks Foreign exchange risks Overseas trade Hedging devices: interest rates Hedging devices: exchange rates Interest rate parity and purchasing power parity Investment and Financing Decisions (35%) Investment appraisal techniques and relevant cash flows Investment appraisal: tax and inflation Investment appraisal: ranking and replacement analysis Risk and sensitivity analysis Compounding and discounting Expected values

16 Application for CPL: ACA module assessment summary grids HEI Degree programme(s) ACA module Covered in Please list all of your courses relevant to the ACA module Assessment 1 Assessment 2 Assessment 3 Method % MM Method % MM Method % MM Accounting Assurance Business and Finance

17 ACA module Covered in Please list all of your courses relevant to the ACA module Assessment 1 Assessment 2 Assessment 3 Method % MM Method % MM Method % MM Law Management Information Principles of Taxation Business Strategy Financial Management 39

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