Ica Gh Syslabus

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Objectives and Expected Performance Outcome of each part

THE INSTITUTE OF CHARTERED ACCOUNTANTS (GHANA)

Syllabus for ICAG Qualifying Examinations

ACCRA 2009

Institute of Chartered Accountants, Ghana

1

Proposed Sylabus for ICAG Qualifying Examinations

Contents

Introduction Features and Inovations of the New Scheme Objectives and Expected Performance Outcomes of Each Part PART 1 1.1 1.2 1.3 1.4 Financial Accounting Fundermentals Business Management Economics Management Information Systems PART 2 2.1 2.2 2.3 2.4 Quantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation PART 3 3.1 3.2 3.3 3.4 Financial Reporting Public Sector Accounting Cost and Management Accounting Financial Management PART 4 4.1 4.2 4.3 4.4 Advanced Financial Reporting Advanced Audit and Professional Ethics Corporate Strategy and Governance Advanced Tax Planning and Fiscal Policy Review of Qualifying Examinations Syllabus May 2010 Proposed Transitional Arrangements

1 2 3

4 11 17 25

32 37 42 50

55 61 68 73

80 86 98 108 115 116

2

Institute of Chartered Accountants, Ghana

Financial Accounting Fundamentals

INTRODUCTION
After nearly four years of organizing examinations on the current syllabus of the Institute of Chartered Accountants (Ghana), professional programme, the first of which was held in May 2005, it is now considered appropriate and timely to revise and update it in order to bring it in line with current state of knowledge and to make it more relevant to the current demands of employers and clients. The job of the Chartered Accountant has become more sophisticated because of the effects of globalisation, developments in information technology and the complexity of the modern business organisation. The modern day chartered accountant, for instance, not only expresses an opinion on the accuracy and fairness of financial statements, but also advises management on the viability of investment projects, tax matters and renders specialised advisory services, etc. In many cases, he is called upon to serve the nation as a member of a special investigation panel. In order to perform these functions creditably, he needs to have acquired proficiency in accounting theory and practice. The new syllabus would be examined in May 2010. The new syllabus attempts to meet the dual goals of the scheme through the subject structure and coverage. The 16-subject, 4-level-structure examination combines subjects which address the practical skills requirements of the potential professional accountants with others which are mainly of the theoretical or conceptual nature and therefore serves as a good grounding for the Professional Accountant. SUMMARY OF NEW STRUCTURE Exhibit 1: Chart of New Examination Scheme 1.1 1.2 1.3 1.4 Financial Accounting Fundamentals Business Management Economics MIS & Business Systems

3.1
3.2 3.3 3.4

Financial Reporting Public Sector Accounting Cost and Management Accounting Financial Management

PART 1

PART 3

PART 2

PART 4

2.1 2.2 2.3 2.4

Quantitative Tools in Business Audit and Internal Review Business and Corporate Law Principles and Practice of Taxation

4.1 4.2 4.3 4.4

Advanced Financial Reporting Advanced Auditing and Professional Ethics Corporate Strategy and Governance Advanced Taxation and Fiscal Policy

Institute of Chartered Accountants, Ghana

1

Proposed Sylabus for ICAG Qualifying Examinations

FEATURES AND INNOVATIONS OF THE NEW SCHEME
This new scheme was developed on a well-established context for a review and change. The following new features and innovations stand out. • A four-part structure of 16 papers in total. • Fusion and integration of some courses. This is meant to encourage an integrative learning approach and to minimize the negative of the “tunnel vision” subject-by-subject training. The combination of related courses is therefore meant to derive more meaning and synergies....
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