C02 teaches you the basic concepts of financial accounting, how accounting is impacted by different laws and standards.

CIMA C02: Fundamentals of Financial Accounting teaches you the basic concepts of financial accounting, how accounting is impacted by different laws and standards.

Syllabus overview

 

The main objective of this paper is the preparation of financial statements for single entities. These statements are constructed within a conceptual and regulatory framework requiring an understanding of the various valuation alternatives, the role of legislation and of accounting standards. Being able to apply accounting techniques and systems enables the preparation of accounts for different types of operations and for specific transactions. There is an introduction to measuring financial performance with the calculation of basic ratios. The need to understand and apply necessary controls for accounting systems, looking at internal control and the nature of errors and fraud, is also covered.

Note: students are required to be aware of the format and content of published accounts but are not required to prepare them. No knowledge of any specific accounting treatment contained in the International Financial Reporting Standards

(IFRSs) – Including the International Accounting Standards (IASs), – is necessary, except in terms of how they influence the presentation of financial statements. IAS 1 and IAS 7 formats will form the basis of those statements. The terminology used for all entities will be that seen in the International Financial Reporting Standards. This will enable students to use a consistent set of accounting terms throughout their studies.

Also note that IAS1 allows the presentation of income in the form of a single statement of comprehensive income or as two separate statements, an income statement and a statement of comprehensive income. Because of the nature of the material dealt with at this level, the majority of questions on this topic will ask for income statement format. However students must be aware of the layout of the single statement of comprehensive income and be able to use it if required.

You’ll also learn about:

  • Preparing accounts for transactions
  • Preparing financial statements
  • Control techniques and how they’re used to correct accounting errors

Course Curriculum

CIMA CBA C02-A: Conceptual and regulatory framework (20%)
CIMA CBA C02-A1: Explain the concepts of financial accounting.
CIMA CBA C02-A1: Explain the concepts of financial accounting. Details 00:00:00
Quiz CIMA CBA C02-A1: Explain the concepts of financial accounting. 00:00:00
CIMA CBA C02-A2: Explain the regulatory and legal framework for financial accounting.
CIMA CBA C02-A2: Explain the regulatory and legal framework for financial accounting. Details 00:00:00
Quiz CIMA CBA C02-A2: Explain the regulatory and legal framework for financial accounting. 00:00:00
CIMA CBA C02-B: Accounting systems (20%)
CIMA CBA C02-B1: Prepare ledger accounts and supporting documents.
CIMA CBA C02-B1: Prepare ledger accounts and supporting documents. Details 00:00:00
Quiz CIMA CBA C02-B1: Prepare ledger accounts and supporting documents. 00:00:00
CIMA CBA C02-B2: Explain the use of codes in accounting systems.
CIMA CBA C02-B2: Explain the use of codes in accounting systems. Details 00:00:00
Quiz CIMA CBA C02-B2: Explain the use of codes in accounting systems. 00:00:00
CIMA CBA C02-C: Preparation of accounts for single entities (45%)
CIMA CBA C02-C1: Prepare accounts for transactions.
CIMA CBA C02-C1: Prepare accounts for transactions. Details 00:00:00
Quiz CIMA CBA C02-C1: Prepare accounts for transactions. 00:00:00
CIMA CBA C02-C2: Prepare financial statements for a single entity.
CIMA CBA C02-C2: Prepare financial statements for a single entity. Details 00:00:00
Quiz CIMA CBA C02-C2: Prepare financial statements for a single entity. 00:00:00
CIMA CBA C02-C3: Demonstrate the use of basic ratios in financial performance.
CIMA CBA C02-C3: Demonstrate the use of basic ratios in financial performance. Details 00:00:00
Quiz CIMA CBA C02-C3: Demonstrate the use of basic ratios in financial performance. 00:00:00
CIMA CBA C02-D: Control of accounting systems (15%)
CIMA CBA C02-D1: Explain the need for external controls on business.
CIMA CBA C02-D1: Explain the need for external controls on business. Details 00:00:00
Quiz CIMA CBA C02-D1: Explain the need for external controls on business. 00:00:00
CIMA CBA C02-D2: Explain internal control techniques.
CIMA CBA C02-D2: Explain internal control techniques. Details 00:00:00
Quiz CIMA CBA C02-D2: Explain internal control techniques. 00:00:00
CIMA CBA C02-D3: Demonstrate how accounting errors are corrected.
CIMA CBA C02-D3: Demonstrate how accounting errors are corrected. Details 00:00:00
Quiz CIMA CBA C02-D3: Demonstrate how accounting errors are corrected. 00:00:00
CIMA CBA C02-D4: Explain the nature of fraud.
CIMA CBA C02-D4: Explain the nature of fraud. Details 00:00:00
Quiz CIMA CBA C02-D4: Explain the nature of fraud. 00:00:00

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