KenyaPlex.com
    Colleges   Schools   Universities   Alumni Directory   Courses   Interview Questions   Forum   Question Papers   Jobs  
Sign In    RegisterMembers Submit Resume Ask a QuestionChat Room Upload Photo Web Design Who is new?




Alumni Directory
Join our alumni directory today and find your current or former classmates from school, college or university.
Join Now!

Search for schools
Get information on all schools in Kenya. Choose from the best.

Colleges
Find all colleges in Kenya from our easy to use colleges directory.

Universities
Find both public and private universities.

Discussion Forum
Discuss and share ideas. Ask questions and get answers

Interview Questions
Browse our collection of interview questions and resources and prepare yourself to win interviews.

Kasneb CPA Syllabus

Registered Members
Elizabeth Wambui Wanyoike
joel
Francis Njenga
Reuben Etabo Eleo
Josephine Mulli

More Members | Register



 
Skip Navigation Links
 

New Kasneb CPA (Certified Public Accountants) Syllabus


PART I

SECTION 1

PAPER NO.1 FINANCIAL ACCOUNTING

GENERAL OBJECTIVE

To provide the candidate with knowledge of accounting principles, concepts and conventions and preparation of financial statements

1.0 SPECIFIC OBJECTIVES

A candidate who passes this paper should be able to:
  • Explain the nature and purpose of accounting
  • Write up books for original entry
  • Prepare basic ledger accounts under double syatem
  • Prepare basic financial statements of sole traders, partnerships and companies
  • Explain the regulatory framework of accounting
  • Account for assets and liabilities
  • Prepare financial statements of profit and not-for-profit organisations
  • Analyse financial statements

CONTENT

1.1 Introduction to Accounting

- The nature and purpose of accounting
- Objectives of accounting
- Users of accounting information and their respective needs
- Qualities of useful accounting information
- Regulatory framework of accounting
- Regulatory bodies
- Nature and role of organisations that set accounting standards and guidelines such as ICPAK, IFAC, IASB, IPSASB
- Accounting standards, their importance and limitations
- Professional ethics
- The accounting equation
- Accounting concepts and principles
  • Going concern
  • Accruals
  • Consistency
  • Prudence
  • Business entity
  • Duality
  • Monetory measurement
  • Substance over form
  • Realisation
1.2 Double entry bookkeeping

- Source documents: Quotations, purchases order, statement of account, remittance advice, receipts, internal cheque requisitions, petty cash vouchers, payroll
- Books of original entry: Sales journal, purchases journal, returns inwards and returns outwards journals, cashbook, petty cashbook
- The ledgers: General ledger, sales ledger, purchases ledger
- The trial balance
1.3 Final accounts of a sole trader

- Statement of financial performance (income statement)
- Statement of financial position (balance sheet)
1.4 Adjustments

- Accrued and prepaid income and expenses
- Bad and doubtful receivables
- Depreciation and disposal of property, plant and equipment
- Bank reconciliation statements
- Control Accounts
- Correction of errors and suspense accounts
- Valuation of inventory
- Capital and revenue expenditure
1.5 Accounting for assets and liabilities

- Non current assets: Property, plant and equipment, intangible assets, investments, shares and loan stocks
- Current assets: Inventory, receivables
- Liabilities: Payables, loans and loan stocks
1.6 Partnership accounts

- Contents of partnership agreement
- Partners current and capital accounts
- Basic final accounts
- Statement of financial performance (income statement)
- Statement of financial position (balance sheet)
- Realignments (excluding dissolution, amalgamation and conversion)
- Retirement of a partner
- Change in profit sharing ratios
- Other changes in the partnership agreement
1.7 Company accounts

- Capital structure of a company: Ordinary shares, preference shares, loan stocks
- Types of reserves: Share premium, retained profit, general reserves
- Final accounts: Statements of financial performance (income statement), statement of financial position (balance sheet)
- Accounting for issue and forfeiture of shares: Issue of shares, forfeiture and re-issue of shares
- Published accounts: Components of a complete set of published financial statements
1.8 Financial statements analysis

- Ratio analysis
- Statement of cash flow
1.9 Not-for-profit organisations

- Receipts and payments accounts
- Income and expenditure accounts
- Statement of financial position
- Fund accounting, for example, life membership fund
1.10 Manufacturing accounts

- Classification of manufacturing costs
- Apportionment of costs between manufacturing account and statement of financial performance
- Preparation of final accounts for manufacturing entities
1.11 Public sector accounting

- The features of public sector accounting
- Accounting concepts, bases, policies of relevance to public sector accounting
- Fund accounting and its relationship with entity theory
- Income measurement and valuation in the public sector
- The preparation, analysis and interpretation of financial statements of government units
- The accounts of state corporations and similar organisations
1.12 Computerised accounting

- Different accounting packages
- Rationale for computerised accounting system
- Components of a computerised accounting system
- Selecting a good computerised accounting system
- Challenges of a computerised accounting system
- Current trends in computerised accounting software

INDEX


  1. Introduction to law
  2. Entrepreneurship and communication
  3. Introduction to law
  4. Economics
  5. Cost accounting
  6. Auditing and assurance
  7. Financial Management
  8. Financial Reporting
  9. Taxation
  10. Company Law
  11. Quantitative Analysis
  12. Principles and Practice of Management
  13. Management Accounting
  14. Advanced Financial Management
  15. Advanced Taxation
  16. Advanced Auditing and Assurance
  17. Advanced Financial Reporting
Next: Introduction to law





About Us | Contact Us | Privacy Policy | Link to us

Copyright © 2008 KenyaPlex.com: A website for Education in Kenya, Resources, Jobs and Interview Questions - All rights reserved.