Professional Level

Corporate Law, Governance & Secretarial Practice Directors' Fiduciary Duties Directors must act honestly and in the company's best interest. Study card → Accounting, Financial Reporting & IFRS IFRS 15 Five-Step Revenue Model A structured model for deciding when and how much revenue to recognise. Study card → Corporate Law, Governance & Secretarial Practice Rights Issue Existing shareholders get the first chance to buy new shares. Study card → Accounting, Financial Reporting & IFRS IFRS 16 Lease Liability Most leases create both a right-of-use asset and a lease liability. Study card → Management Accounting, Costing & Performance Activity-Based Costing Assign overheads based on activities that drive costs. Study card → Accounting, Financial Reporting & IFRS IAS 16 Component Depreciation Significant parts of an asset may need separate depreciation. Study card → Management Accounting, Costing & Performance Relevant Cost Only future cash flows that change with the decision matter. Study card → Accounting, Financial Reporting & IFRS IAS 36 Impairment Indicator A warning sign that an asset may be worth less than its carrying amount. Study card → Management Accounting, Costing & Performance Variance Analysis Explaining why actual results differ from standard or budget. Study card → Accounting, Financial Reporting & IFRS IAS 37 Provision Recognition A provision is recognised only when strict conditions are met. Study card → Financial Management, Investment & Valuation Working Capital Cycle How long cash is tied up in inventory and receivables. Study card → Accounting, Financial Reporting & IFRS Goodwill on Consolidation Goodwill represents the premium paid for a business beyond identifiable net assets. Study card → Internal Audit, Risk, Control & Compliance Internal Audit Independence Internal audit must be free from undue influence. Study card → Audit, Assurance & Ethics Audit Risk Model Audit risk comes from inherent risk, control risk and detection risk. Study card → Audit, Assurance & Ethics Materiality in Auditing A matter is material if it could influence users' decisions. Study card → Audit, Assurance & Ethics Test of Controls Testing whether internal controls operated effectively. Study card → Audit, Assurance & Ethics Substantive Procedure Direct testing to detect material misstatements. Study card → Audit, Assurance & Ethics External Confirmation Evidence obtained directly from an independent third party. Study card → Audit, Assurance & Ethics Audit Sampling Testing less than 100% of a population to draw a conclusion. Study card → Taxation & Bangladesh Compliance VAT Input Tax Credit Registered businesses may offset input VAT against output VAT. Study card → Taxation & Bangladesh Compliance VAT Deducted at Source Certain buyers deduct VAT before paying suppliers. Study card → Taxation & Bangladesh Compliance Corporate Tax Disallowance Some accounting expenses are not allowed for tax purposes. Study card →