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IFA Students Syllabus 1
Business Law (MGT 201)
University of Kerala
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INSTITUTE OF FORENSIC ACCOUNTANTS
(IFA)
EXAMINATION SYLLABUS
SYUMMARY OF SYLLABUS
FOUNDATION LEVEL
0. Financial Accounting 0. Auditing 0. Taxation 0. Public Speaking
PROFESSIONAL LEVEL-
0. Business Law 0. The Law of Evidence 0. Financial Reporting 0. Introduction to Forensic Accounting
PROFESSIONAL LEVEL-
0. Legal Elements of Fraud 10. Criminology and Ethics 11. Forensic Accounting in Fraud Investigation 12. Financial Transactions and Fraud Schemes
PROFESSIONAL LEVEL-
13. Expert Interview Skills in Forensic Accounting 14. Litigation Support in Forensic Accountant 15. Expert Witnessing in Forensic Accounting 16. Expert Forensic Accounting Reporting
Modern Methods of Processing Data
Bank Reconciliation Statements
The Analytical Petty Cash Book and Imp rest System
The Journal
Errors Not Affecting Trial Balance Agreement
Suspense Accounts and Errors
Control Accounts
Introduction to Accounting Ratios
Single Entry and Incomplete Records
Receipts and Payments Accounts and Income and Expenditure Accounts
Manufacturing Accounts
Departmental Accounts
Partnership Accounts: An Introduction
Goodwill
Partnership Accounts Continued: Revelation of Assets
An Introduction to the Final Accounts of Limited Liability Companies
Purchase of Existing Partnership and Sole Trader9s Businesses
The Valuation of Stock
Bills of Exchange
Joint Ventures
Consignment Accounts
Partnership Dissolution
Branch Accounts
Further Methods of Providing for Depreciation
Container Accounts
Royalty Accounts
Hire Purchase and Payment by Installments
Limited Companies: General Background
The Issue of Shares and Debentures
Redemption of Redeemable Preference Shares and of Redeemable Debentures
Limited Companies Taking Over Other Businesses
Provisions, Reserves and Liabilities
Taxation in Accounts
The Increase and Reduction of the Share Capital of Limited Companies
The Final Accounts of Limited Companies
Flow of Funds Statements and Cash Budgeting
Investment Accounts
Contract Accounts
Consolidated Accounts: Introduction
Consolidation of Balance Sheets: Basic Mechanics I
Consolidation of Balance Sheets: Basic Mechanics II
Inter-Company Dealings: Indebtedness and Unrealised Profits in Stocks
Consolidated Accounts: Acquisition of Shares in Subsidiaries at Different Dates
Inter-Company Dividends
Consolidated Balance Sheets: Sundry Matters
Consolidation of the Accounts of Vertical Groups Of Companies
Consolidated Profit and Loss Accounts
Accounting for the Results of Associated Companies
Discounting Techniques
Accounting for Inflation
Controlling an audit
Quality Control
Types of Reviews
Analytical Procedures
Internal Accounting Control System
Design of Internal Control System
Elements of Internal Control
Essential Characteristics of Internal Control
Types of Internal Control
Techniques of Ascertainment
Methods of Recording the System
Procedures to obtain an understanding of the Client9s
Internal Control Structure
Testing the System of Internal Control
Letter of weakness (Management Letter)
Internal Audit
Management Audit
Internal Check
Audit Working Papers
Purpose or Objective of Working Paper
Types of Working Papers
Audit Programmes
Standards Audit Programmes
Verification and Valuation of Assets and Liabilities
Verification (Definition)
Vouching
Verification of Fixed Assets
Verification of Current Assets
Cut-Off Procedures
Verifications of Liabilities
Balance Sheet Audit
Programme for a Balance Sheet Audit
Audit Evidence
Audit Sampling
Evaluation of Errors
Audit of Computer Based Accounting System EDP Systems
Use of Compute for Audit Purposes Internal Control In EDP Systems
Advantages and Problems in Computer Based Accounting System
Typical ICQs in EDP Systems
Liabilities of Auditors
Liabilities of Client
Liabilities of Third Parties
Criminal Liabilities
Responsibilities for the Prevention and Detection of error and/irregularities
Unlawful Acts of Client and their staff-Auditor9s Liabilities
Legal Decisions on Auditing
Audit Reports and/or Opinions
Legal Requirements
Requirements of the Auditing Standard
Parts of Audit Report
Emphasis of Matter
Qualified Opinion
Public Sector Audit
Appointment, Retirement and Removal of Government
Duties
Independence
Nature of Audit of Government Accounts
Accounting Units
Change of accounting date
3 CAPITAL ALLOWANCES Qualifying expenditure Conditions for claiming capital allowances Allowances available to a taxpayer Basis period for capital allowances Assets with an element of private use Relevant interest in building, structure or works Manner of making claims for allowances Leases Assets acquired on hire-purchase Industrial Inspectorate Division
- INDIVIDUAL LOSS RELIEF Claims for loss relief Commencement provisions Year of cessation
5. INCOME FROM DIVIDENDS, INTEREST, DISCOUNTS, PENSIONS,
ANNUITIES, SETLEMENT, TRUST OR ESTATES
Chargeable dividends Interest derived from Nigeria Computed income of a trust Deemed income of the settler Double taxation relief Preparation of settlement accounts
- INCOME FROM PROPERTY Who is liable?
Basis of assessment
INDIVIDUAL INCOMES COMPUTATION Statutory income Reliefs and allowances Claims for reliefs Due date for payment of tax
PARTNERSHIP INCOME Computation of partnership income Capital allowances Changes in partnership Personal allowances and deductions Partnership losses Sole trade preceding partnership Sole trade succeeding partnership Registration of partnership agreement
9. IMPOSITION OF INCOME TAX ON COMPANIES AND PROFITS
CHARGEABLE
History of companies9 income tax Profits subject to tax Dividends Definition of Nigerian company Interest on foreign loans Profits of shipping, air transport, cable undertakings and insurance companies
- ASCERTAINMENT OF PROFITS Allowable and disallowable expenses
14. ADMINISTRATION OF INDIVIDUAL INCOME TAX
Meaning of <relevant tax authority= Administration of the Act Functions of the Board Assessments Objection and appeals
ADMINISTRATION OF COMPANIES INCOME TAX Federal Board of Inland Revenue Persons chargeable to tax Company being would-up Returns Assessments Appeals Offences and penalties
PETROLEUM PROFITS TAX Ascertainment of chargeable profits Definition of profits Capital allowances Chargeable tax Posted price Collection and payment Offences and penalties
17. CAPITAL TRANSFER TAX
Value of gift transferred Property passing on death Quick succession relief
Interaction of capital transfer tax and capital gains Tax Valuation of property Administration and collection Assessments and payment Appeal
- CAPITAL GAINS TAX Who is liable? Basis of assessment and rate of tax Chargeable assets Exemptions and reliefs Part disposal of assets Compensation and insurance proceeds Replacement of business assets and roll-over relief Compulsory acquisition of land Principal Private Residence Death Shares and securities Bonus and rights issue Capital loss Connected persons Artificial or fictitious transactions Administration returns and appeal
19. MISCELLANEOUS TOPICS - 1
Determination of residence Taxation of members of the Armed Forces and Other persons Double taxation relief
4. FUNDAMENTALS OF PERSUASIVE SPEAKING
What9s persuasive speaking? Factors of persuasive Speaker9s credibility Source of Credibility Speaker9s character Speaker9s logic Logical fallacies Speaker9s rational appeals Types of Evidence Speaker9s emotional appeals
5. SPEECH ORGANIZATION FOR PERSUASION
Problem-solution order Problem-Cause-Solution order Monroe9s Motivated Sequence Indirect Proof Answering Objections Using humour and satire Reframing the issue Comparative Advantages order Primacy and Recently Effect
- CHALLENGE OF AUDIENCE INVOLVEMENT Causes of audience inattention Talk about Audience needs Maslow9s Hierarchy of Needs Establish common bond Commitment to the topic
The magic in names Speech Opening for audience involvement Speech closing for Audience involvement
7. FORMS OF NONVERBAL BEHAVIOUR
Body language Gestures Postures Eye contact Nonverbal Language of Colour Nonverbal Language of Touch Nonverbal Language pf dressing Nonverbal Language of Micro ecology Nonverbal Language of Vocal Qualifiers Volume Tempo Tone Pause Nonverbal language of Time Verbal Crutches
MODES OF SPEECH DELIVERY Impromptu speaking Extemporaneous speaking Memorized Mode of speaking Speaking from Manuscript
COMMON FORMS OF ADDRESSES Keystone Addresses
PROFESSIONAL LEVEL-
0. BUSINESS LAW
1. LAW, ITS ADMINISTRATION AND ENFORCEMENT
The Meaning of Law Types of Law Organization of Courts The Personnel of the Courts
2. CONTRACT Nature of a Contract Formation of a Contract Privity of Contract Conditions and Warranties Exemption Clauses Reality of Consent illegality Assignment of Contract Discharge Remedies for Breach of Contract
3. SALE OF GOODS
Nature of sale of goods Contract of sale of goods distinguished from other contracts Conditions and warranties Caveat emptor Transfer of property Transfer of title Performance of the contract
C. I. F., F. O. B. and Ex-Ship contracts Acceptance Rights of unpaid seller
4. AGENCY
Nature of Agency Creation of Agency Termination of Agency
- HIRE PURCHASE The meaning of 8Hire Purchase= Credit sale agreements The hire purchase Act, 1965
6. NEGOTIABLE INSTRUMENTS AND NOTES
Nature of negotiable instruments and notes Bills of exchange Dating Acceptance Cheques Promissory notes
- INSURANCE The meaning of insurance Contract of insurance – how effected Conditions and warranties Liability of principal for Acts of its Agent Basic principles
IFA Students Syllabus 1
Course: Business Law (MGT 201)
University: University of Kerala
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