empowering finance professionals of the future · the role of development in digital technology in...

Curriculum 2020 | Empowering Finance Professionals of The Future The Institute of Chartered Accountants of Sri Lanka | A

Curriculum 2020

EMPOWERING FINANCE PROFESSIONALS OF THE FUTURE

CurriculumAt CA Sri Lanka, our uncompromising focus is on developing professionals who are ready to face the changing dynamics of the corporate world. Founded on principles of ethics and integrity, wisdom and discipline, we seek to empower the future of all our people with knowledge and skills – easily distinguished by a brand of unique and versatile professionals with the ability to steer any business successfully.

As we face the onset of the digital age and its ensuing impact, we strive to remain relevant and progressive – evolving ourselves to impart knowledge that will empower and equip our members to face the rapidly transforming world of business and an era of digital disruption.

We at CA Sri Lanka, are empowering finance professionals of the future.

Curriculum 2020 | Empowering Finance Professionals of The Future The Institute of Chartered Accountants of Sri Lanka

Content

1. President’s Message ....................................................................................................... 3

2. Structure of the Curriculum 2020 ............................................................................... 5

2.1 RevolutionisedCourseContent ..............................................................................5

2.2 NewInitiatives ............................................................................................................ 8

2.3 AssessmentLevelsandQualification .................................................................. 10

2.4 CurriculumStructure .............................................................................................. 16

2.5 PillarsandCourseunitDescriptors ..................................................................... 20

3. Performance Assessment Methodology ..................................................................33

3.1 ProfessionalKnowledgePillarAssessmentMethodology .............................. 33

3.2 ActionVerbsChecklist ........................................................................................... 35

3.3 ProfessionalSkillsPillarAssessmentMethodology .......................................... 38

3.4 ProfessionalExperiencePillarAssessmentMethodology .............................. 39

4. IFACInternationalEducationStandardsCompliance ..........................................40

5. EligibilityCriteria ...........................................................................................................41

6. Detailed Curriculum ......................................................................................................42

6.1 BusinessLevelI ....................................................................................................... 42

6.2 BusinessLevelII ...................................................................................................... 78

6.3 CorporateLevel ..................................................................................................... 120

6.4 StrategicLevel ........................................................................................................ 158

7. TransitionalArrangements ....................................................................................... 206

Curriculum 2020 | Empowering Finance Professionals of The Future The Institute of Chartered Accountants of Sri Lanka | 3

President’s Message1

At no point in history has theprofession of Accounting beenmorevibrantasitisnow,asglobalscrutiny of financial reportingstandards has necessitated thatcourse curriculum be changedmoreoftentoaccountforevolvingrealitiesinanincreasinglydisruptivebusinessenvironment.Asthemostprestigious national professionalaccountancy organisation, TheInstituteofCharteredAccountantsofSriLanka(CASriLanka)remainson the cusp of change by pre-empting local and global markettrends. Nevertheless progressis impossible without changingourselves. If we are changing - itmeanswearelearningandgrowing.

In light of this, I am proud topresent beforeyouCA Sri Lanka’sCurriculum 2020,which has beenrefreshed to incorporate new skillsets that accountancy studentsneedtobeequippedinthecurrentmarket conditions,whileof coursebuildingonthestrongaccountancyfoundation and technicalcompetency that the Institute isreputedfor.

Cognizantofsustainingitspositionas the leading professionalaccountancy education providerin the country,CASri Lanka takeson the responsibility to update,adapt and hone the Curriculumperiodically.

The new curriculum will benefitChartered Accountants oftomorrow, who are proficientin a host of competencies tobecome indispensable membersof organisations’ strategicmanagementteams.

Asafieldofrespectedprofessionforcenturies,accountancystillremainsa preferred choice for studentsaiming for a career in which theyhaveaclearcompetitiveadvantagethatcantakethemtothepinnacleofanorganisation.Itisincreasinglyobvious that we are in a highlyglobalisedworldanditisparamountthatourstudentsshouldhaveskillsand competencies beyond thetechnical skills if they want to besuccessful.

The Curriculum 2020, whilefulfillingrequiredInternationalEducationStandards(IESs)ofInternationalFederationofAccountants(IFAC)fortheprofessionalaccountants, takes greatstridesbeyond-toentrenchstrongbusinessintelligence skills throughemphasisontheroleofdevelopmentin Digital Technology inaugmentingtheaccountingfunction.

WHAT’S NEW?

1. Aholisticapproachtoaccountancy

2. New course areas for specialisations

3. Multiplequalificationswithinthe curriculum at all Levels

4. Astrongemphasisondigitalisation

5. Enhancedservicedelivery,e-Learningandcombinedassessments

6. Softskills;speechcraft,advancedbusinessreportwritingandresidentialprogrammeonentrepreneurshipskills,businessacumenandprofessionalskills

7. An intensive understanding of ethicalfinancialreporting

Curriculum 2020 | Empowering Finance Professionals of The Future4 | The Institute of Chartered Accountants of Sri Lanka

Detailed Curriculum

What’s New in Curriculum 2020?The new Curriculum introducessome pioneering areas ofstudy for students such as newspecialisations,abilitytoqualifyformultiplequalifications,sothatevenif a student is unable to completetheentirecourse,heleaveswithaniche specialisation that improveshisemployability.

The strong emphasis given todigitalisation in various courseunits of Curriculum, reflects theimportance of accountants beingable to tackle any type of digitalaccounting environment whichgiveskeyskillsneededforthefuture.Intandem,CASriLankaisplanningto enhance its service delivery byleveraging on technology such asonlineassessmentanddelivery.

The Curriculum 2020 isstrengthened by 3 critical pillars: Professional Knowledge,ProfessionalSkillsandProfessionalExperience, which have beenfurther reinforced to individuallysustain and together convergeat theendof theperiodof studyto deliver a holistic accountingeducationthatpreparesthefreshlyminted Chartered Accountant forsuccess.

The First Level introduces thefundamentals of accounting andbusinesswithasteadyimprovementin knowledge together withprofessional skills and values andstructured Professional experiencescheme needed to shape aCertified Business Accountant.TheSecondLevel inculcatesdepthknowledge of technical abilitieswhilst improving interpersonal andcommunication skills and problemresolution skills together withstructured professional experienceasrequiredofaCertifiedCorporateAccountant. The final stage,Strategic Level aims to produce aCAprofessionalfullyequippedwiththe required knowledge, skills andpersonalitytobeacorporateleader.

In an increasingly volatile businessclimate which is being disruptedcontinuously, a strong ethicalundertoneiswhatdistinguishesourstudents, as they receive intensiveunderstanding of transparency inaccountability and ethical financialreporting as part of the refreshedCurriculum. This Curriculumenhancementexercisecommencedafter stakeholder consultationsacrossmembers in public practiceand in business and businesscommunity, Chief Executive

Officers,LeadersinFinance,HumanResourcesManagers,AcademiaandalsotheStudents.

As a result, CA Sri Lanka’sCurriculum2020isgearedtocreatetechsavvy,future-readytechnicallysoundaccountants,whoarefurtherequippedwithcertainkeyqualitiesto stand apart from the rest, suchas financial leadership, criticalthinking, professional judgment,analytical mindset, leadershipability, relationship building skillsandbusinessacumen.

Mr. Jagath PereraPresident

25thJuly2019


In order to survive and thrive in this dynamic environment, CA Sri Lanka undertakes the responsibilityofupdatingthecurriculumregularlyyearstoensureitcontinuestooffercutting-edgeaccountingeducation.

2Structure of the Curriculum 2020

2.1 REVOLUTIONISEDCOURSECONTENTTheworldofbusinessisconsistentlyshifting, changing and adapting.The onslaught of technology hasfurther accelerated the speed atwhichchangeistakingplaceacrosstheworld.

This new CA Curriculum 2020upliftstheprofileofaccountingtoensure students qualify from theInstitute’s portals as future readyaccounting professionals who willlead businesses in the future. Inkeeping with global trends, thenew curriculum creates businessleaders and not just accountantsby building the curriculum on 3keypillars:professionalknowledge,professionalskillsandprofessionalexperience.These3pillarsinfusea360-degreetrainingencompassingsoft skills, to ensure they are jobreadyqualifyingfromCASriLanka.Accountants are increasinglytaking on strategic roles withinorganisationsandareexpected todeliver presentations, brainstormintheboardroomandthinkwitha‘tech savvy’mindset ofwhich CASriLankainculcatesinitsstudents.

The CA CurriculumTechnology is disrupting everyindustry in theworld and in ordertopre-emptthistrend,CASriLankahasexamineditsCurriculumindetailand reinforced it with InformationTechnology knowledge that willenhance the student’s skills. As afulfillment of member obligationsof the International Federation ofAccountants (IFAC),CASriLanka’sprofessional accounting educationalso demands timely revisionto reflect the latest regulatoryrequirements and to incorporateotheremergingtrendstoensurethestudentsaregloballycompetent.

ObjectiveofthenewCurriculumIn a bid to produce future readyprofessional accountants, the CAqualification enhances technicalknowledge & competencies,professionalskillsandvalues,ethics&attitudesrequiredtoprovidetheservicesthatclientsandemployers,aswellasthepublic,demandfromaprofessionalaccountant.

Curriculum 2020 is revolutionaryfortheincreasedemphasisontechnology training it willimparttostudents.

New Curriculum makes you job-readyTheaimofourcourseunitsineachlearning pillar in CA Curriculum2020 is developed based onthe progressive development ofproficiency,which is the ability toapply the technical knowledge &competencies, professional skillsand values, ethics & attitudesto perform a role to a definedstandard.Inordertoacquiretheseproficiencies, CA Sri Lanka hasdesignedthecurriculumsuchthatit ensures professional growthand builds a strong capacity forlifelong learning. As the nationalaccounting body, CA Sri Lankaneeds to remain agile in adoptingnewregulationsintoitscurriculum.By leveraging on the CharteredAccountant profile of technicalknowledge and competencies;professionalskillsandvalues,ethicsand attitudes, CA's are equippedwiththerequiredcompetenciestobesuccessfulintheworkplace.

Most significantly, CA Sri Lankastudents can achieve a definitivequalification for every level theycomplete. The new curriculum isalsohighlyflexible,offeringarangeof qualifications as per the levelcompletionoptedbythestudents.


Detailed Curriculum

Theseopportunitiesarebrilliantforstudentstofindnichesubjectstheyarecomfortablewithandwhichfittheir desired time frame beforeenteringtheworkforce.

The 2020 Curriculum is notdesigned for fresh school leaversalone.Itoffersmultipleentrypointsforprofessionalslookingtoacquirehigherqualificationsinaparticularfield.

Producefuturereadyprofessionalaccountants.

Objective

Acurriculumbuilton3pillars,inkeepingwithglobaltrends

Methodology

Technicalknowledge&competencies

Professionalskills&values

Ethics&attitudes

Focus Areas

Aqualificationforeverylevel

Flexibilityandagility

Multipleentrypointsforotherqualificationholders

Benefits


CAProfileAsdepictedinthebelowdiagram,a Chartered Accountant isexpected to possess professionalcompetence to perform his/her duties in service areas ofAudit Assurance and Ethics(AA&E), Financial Accounting andReporting (FA&R), PerformanceMeasurement and Risk (PM&R),Taxation and Law (T&L), BusinessManagementandStrategy(BM&S)and Professional skills. Further,Professional experience givesstudents with an opportunityto use these three attributes;professional skills, value ethics &attitudesandtechnicalknowledge&competenciestoseekbenefitsinpracticalscenarios.

Values,EthicsandAttitudesProfessional values, ethics, andattitudes are the characteristicsthat identify CA as a member ofa profession. These include theprinciples of conduct (e.g., ethicalprinciples)generallyassociatedwithandconsideredessentialindefiningthe distinctive characteristicsof professional behavior. Theprofessional parameters ofperformancecanhelptodifferentiatethe performance of a CA fromother professionals.Moreover, thefinancial knowledge they acquireduring the course facilitates theirentry into any leadership positionbecause they are able to assessthe financial ramifications of anymanagerialdecision. In this regard,thefollowingparametersarepivotaltoensuresuccess:

• act in the public interest,withintegrityandinaccordancewiththeethicalstandards;

The CA Curriculum stands apart,becauseitseekstobuildbusinessleadersandnot accountants alone. Byempoweringstudentswith all round managerial skills,we'rebuildingqualifiedaccountantswhoareabletoplayacriticalroleinseniormanagement.

Apart from equipping qualifiedstudentswiththoroughknowledgein accounting, the Institute addsfurthervaluebyinfusingaspectsofEmotionalQuotientnowvaluedbyemployers. These soft skills serveto enhance the CA’s competencyinall-roundmanagerialskillswhichhelp them to deal with complex,unusual situations or scenarioswhich require a specialist’sknowledge when proceeding toprogressivelevels.

CACurriculum2020stipulatestheappropriate assessment activitiestoassessthetechnicalknowledgeandcompetencies.

Professional Experience


Technical Knowledge & Competencies

Professio

nal

Skills

Values, Ethics &

Attitudes

CA Profile

Technical Knowledge and CompetenciesThe level of knowledge andcompetencies required toachieve each learning outcomein appropriate service areas areidentified at all levels and areincludedaspartsofthecurriculum.

Professional SkillsThe professional skills are theintellectual, interpersonal andcommunication, personal andorganisationalskillsthatwouldaddprofessionalism.

CA Curriculum 2020 stipulatesappropriate assessment activitiestoassessprofessionalskills.


Detailed Curriculum

• strive for latest knowledgeand thinking in the fieldwhilekeepingupdated;and

• comply with the otherrequirements of the Institutesofwhichtheyaremembers

CA Curriculum 2020 stipulatesappropriate assessment activitiesto assess the professional values,ethicsandattitudes.

Introducing

• E-Learning• OnlineexamsattheBusinessLevelIandIIofthequalification.

• Twooptionalexitroutes• ExitfromCorporateLevelwithspecialisationareas

2.2 NEWINITIATIVESDigital TechnologyThe role of technology remainsan important topic today withdebates about the impact oftechnology on our society, theimplications of quick and easyonline access to information forknowledge and learning and theeffect of technology on people’ssocial, emotional and physicaldevelopment.Digitaltechnologyisnow rapidly reshaping the worldsof business and accountancy.Accountantshavealwaysexploitedemerging technologies to helpthemtocompletetheirtasksmoreaccurately, efficiently or simplyto the level of desired success.At present technology trends incloud, big data, mobile and socialcollaboration are converging to

Inthetableabove,theinitiativesofdigitaltechnologyisexplainedunderdeliveryandassessmentandspecialisedareas.

change the ways in which thebusiness community consumeinformation technology resources,shareknowledgeandexperiences,andaccessproductsandservices.Atthesametime,thesetrendsarealso underpinning and influencingdevelopments in cyber security,digital service delivery, robotics,augmentedandvirtualreality,andartificialintelligence.

CASriLankahasembracedtheuseof ICT and digital technologies inmany areas of education, and intraining the students to be readyfor the future challenges. ThisCurriculum has addressed manysuch areas in Digital Technology

and has embedded into thecourse units to empower thefuture Chartered Accountants. The2020Curriculuminbuildingthefuture-readyfinance&accountingprofessionals has incorporatedthe following specialised areas ofDigital Technology into its courseunits.


Course Unit Application Areas

Integrated Case Study TechnologyinBusiness;DigitalisedAccounting;FinancialTechnology.Advanced Business Reporting MSExcelapplicationandEnterpriseResourcePlanning(ERP).Corporate Finance & Risk Management MSExcelapplicationtosolveproblems.Strategic Management and Leadership CloudandMobileTechnology;BigdataandDataAnalytics.Advanced Management Accounting Bigdata.Advanced Audit & Assurance Digitalbusinessenvironment;Auditautomation;Dataanalytics;Cybersecurity.Financial Reporting and Governance MSExcelapplicationandaccountingsoftware.Audit, Business processes & Digitalisation Blockchain;Artificialintelligence;Roboticprocessautomation&cyber

security;andimpactofthemonbusinessprocesses.Management Accounting ModernManufacturingEnvironmentEvolutionofSystems(MRPI,MRP

II,ERPI,ERPII);ComputefinancialfeasibilitybyusingExcelandsoftware.Business Taxation Onlinereturnssubmission.Financial Accounting Informationtechnologytransformationintheaccountingprocess.Business Environment & Economics The application of innovative technology; Application of new

technologyforimprovingtheproductivityofmarketingmanagement;InformationManagementSystemsandProjectManagement.

Computer-BasedAssessmentIntroduction of computer basedassessmentinBusinessLevelIandII examinations in linewith globaltrends in digital technology willprovide flexibility to the Studentsin choosing a time table to suittheir convenience.Theexamscanbescheduledmorefrequentlythanthefixedtimescheduleoftwiceayearasinpracticebefore.

Blended Learning MethodologyThisCurriculumincludesablendedteaching and learning techniquesthat will suit the mixed abilitygroupswithamixtureofbothface-to-facesessions&e-learning.

E-LearningplatformThe students will have theopportunity of learning onlinethrough the CA Sri Lanka LMSplatform,wheremany teaching &learning materials including audioandvideowillbeuploaded,wherethe students will be providedaccess at convenient time roundtheclock.

ProfessionalExperience–InputOutputAssessmentSubmission of Skills AssessmentReport by the SupervisingMemberbiannuallywillbeanothernoteworthy initiative. Contentevaluation of the Student TrainingRecord will take place annuallythrough one-to-one interview byanindependentassessingmember.Submission of output based CaseStudy Report by the student onannualbasisineachlevel.

GraduateEntryRouteCA Sri Lanka is considering toencourage direct graduate entryat CCA qualification Level ofCA Programme, under mutualrecognitionagreements.

SoftSkillsSoft skills of the students willbe further developed throughspecially developed activitiessuch as Speech Craft, AdvancedBusiness Report Writing andResidentialprogramme.

InvolvementofInformationTechnologyincourseunits


Detailed Curriculum

2.3 ASSESSMENTLEVELSANDQUALIFICATIONWithin each learning pillar, following three levels are designed in order to assess the course units of theCACurriculum2020.

Corporate Level

Business Level II

Business Level I

Strategic Level

ThisstructureofferstwooptionalexitroutesbeforereachingtheCAqualification.Further,theCurriculum2020offersexitroutesfromCorporateLevelwithsixspecialisations.


Exit routes and specialisation at a glance...


Detailed Curriculum

BusinessLevel(LevelI&II)Business level is the firstassessmentlevelofCAqualification.A working knowledge with basicunderstanding of the subjectmatter ineachpillar is required inthis level.Aftercompletionofthislevel, students shall possess thefollowingattributes:

•Knowledge of GenerallyAcceptedAccounting Principles,Practices and Reporting (GAAP)guidelines

•Generalknowledgeofapplicableinformation technology tomeetworkneeds

•General knowledge aboutbusiness environment andapplicable rules and regulations(businesslaw,tax)

•Knowledge about financialmathematicsandbasicanalyticaltools

CompetencyLevel:Basic knowledge, skills & understanding.

StatusAwarded: Certified Business Accountant (CBA).

•Compile, monitor, examine,and audit various financialstatements/reports for accuracyand integrity and conformanceto accepted accounting andprogrammeguidelines

•Draw conclusions and preparewrittenfindings followingGAAPandother applicable accountingguidelines and present basicrecommendations supported byfacts

•Understanding importance ofprofessionalvaluesandethicsinperformingduties

•Basic level of professional skillssuchasBusinesscommunicationand interpersonal skills and ITskills

•Professionalexperience

Students who reach the above,willbeawardedCertified Business Accountant (CBA).


CorporateLevelCorporate Level is the secondassessmentlevelofCAqualification.A working knowledge with broadunderstanding of the subjectmatter ineachpillar is required inthis level.This level offers an exitroute for students who do notwant to proceed to the StrategiclevelfortheCAqualifications.TheInstituteoffersspecialisationsin;

- Taxation

- DataAnalytics

- Finance

- Governance,Riskand Control

- Entrepreneurship

- ActuarialScience

astheseareareaswithhighdemandfor competent accountants.Moreover,thesesubjectsholdmuchpotential aswell.After completionof this level, students shall possesthefollowingattributes:

•Independently apply thoroughknowledge of GAAP and theirapplicationtoaccounting

•Apply thorough knowledge ofapplicable IT to perform theaccountingduties

•Develop and implement systemchanges

•Compile, monitor, examine,and audit various moderatelycomplex financial statements/reports/accounts or budgetcodes foraccuracy, integrityandconformance to accounting andprogrammeguidelines

•Develop,evaluateandimplementchanges to accounting systemsandprocesses

•Identify substantive issuesand thoroughly and accuratelyresearchandanalysethem

•May design data collection,reporting tools and financialmodels

•Prepare,disseminateandinterpretfinancialreports

•Serve as advisor for fiscalmanagementandreportingissues

•Identifychangingrequirementsandproblems regarding managementneedsandotherfiscalprocedures,accountstructuresorreports,andaccountingsystems.

•Evaluate systems of control andrecommend improvements/changes

•Makedecisionandsolveproblemthat require researchand reviewof policies and procedures andregulations.

•Preparewritten and/or technicalproducts which convey concise,comprehensive and accuratefindings and conform toguidelines.

•Ability to establish effectiveworking relationships that fosterorganisationalsuccess

•Value based professional andethical approach in resolvingissues (Applying professionalvalues and ethics in performingduties)

•Advanced level of professionalskills such as businesscommunicationandinterpersonalskillsandITskills


Studentswhoreachtheabove,willbe awarded Certified Corporate Accountant (CCA), and CCA inrespective specialised areas asmentionedabove.

CompetencyLevel:Advanced knowledge, skills & understanding.

StatusAwarded: Certified Corporate Accountant (CCA)

SpecialisationOpportunity:Taxation; Finance; Governance, Risk & Control; Data Analytics; Entrepreneurship and Acturial Science


Detailed Curriculum

Strategic LevelStrategic Level is the finalassessmentlevelofCAqualification.A thorough knowledge with asolidunderstandingofthesubjectmatter andworking experience intheapplicationthereof is requiredin this level. Upon completion ofthislevel,studentsshallpossesthefollowingattributes:

•Apply in-depth knowledge ofaccounting standards, conceptsandprinciplesandsystems

•Report the interconnectednessof the business activities bothfinancial and non-financial andcollectiveunderstandingofvaluecreation over time and developintegratedreporting

•Recognisecomplex,contemporaryand unique issues in accountingandfinancefunctionanddevelopsolutions

•Identify problems and changingrequirements regardingmanagement needs, auditingand other fiscal procedures,account structures or reports,and accounting systems, alongwith the responsibility formodifications

•Design and implement financialinnovations in the organisationwithemergingtechnologies

•Independently resolve complexproblems for which no clearprecedent exists within thecurrentsystemorimplementnewaccountingstructures

•Design and implementorganisation and programmespecific accounting procedures,controlsandsystems.

•Analyseandinterpretofcomplexfinancial and non- financial dataincludingbig-data

•Research, analyse and ensureimplementation of new orchanging accounting reportingsystemsanddeveloppoliciesandproceduresfornewsystem

•Recommend actions oralternatives to be taken bymanagement when accountingdata discloses unfavorabletrends or deviations or financialmismanagement

•Make risk assessment ofsystems of internal controls andrecommend improvements andchanges

•Implement an effective riskmanagementstrategyandprovidesupport services to mitigate theoverallbusinessandfinancialrisk

•Provide audit and other relatedassuranceservices

•Independently resolve anddevelop recommendations forunprecedented, complex issuesandproblems

•Convey concise, comprehensive,andaccuratefindingsonmattersof a complex nature in writtenform

•Reach conclusions andrecommendations which arebasedonprofessionalknowledgeandjudgment

•Exercise the highest standardsof integrity, independence andskepticism

•DevelopsoftskillsandstrategicITskills

•Professionalskills


Onreachingtheabove,studentswillbe awarded Associate Chartered Accountant (ACA).

CompetencyLevel:In-depth knowledge & application.

StatusAwarded: Associate Chartered Accountant (ACA).


SummaryofRequirement,CreditsandQualification

Level Requirement to Satisfy Total Credits Qualification Awarding

Stra

tegi

c Le

vel

CourseunitsandIntegratedcasestudy

40(forcourseunits) AssociateCharteredAccountant(ACA)

Professionalexperience

• ProfessionalValues,EthicsandAttitudescourseunit

• VivaVoce&Presentation

• ResidentialProgramme

• Casestudyreport

15(forProfessionalexperience)

Professionalskillunits

Corp

orat

e Le

vel

Optionalcourseunitsinrespectivespecialisationarea

10(forspecialcourseunitsfromspecialisedareas)

CertifiedCorporateAccountant(CCA)

Courseunits 20(forcourseunits)




• Casestudyreport

15(forProfessionalexperience)


Busin

ess

Leve

l

Courseunits 40(forcourseunits) CertifiedBusinessAccountant(CBA)




• Casestudyreport

15 (forProfessionalexperience)



Detailed Curriculum

2.4 CURRICULUMSTRUCTURE


Professional Skills

Professional Knowledge

Strategic Level

Corporate Level

Level

Structure of the Curriculum 2020 - Pillars & Levels

Business Level I

Business Level II

Prof

essi

onal

exp

erie

nce



Audi

t, A

ssur

ance

& E

thic

sFi

nanc

ial A

ccou

nting

& R

epor

ting

Perf

orm

ance

Mea

sure

men

t and

Ris

kTa

xatio

n an

d La

wBu

sine

ss M

anag

emen

t & S

trat

egy

Com

mun

icati

on S

kills

Professional Skills

Info

rmati

on T

echn

olog

y



Level

Sub Pillar

Audit, Assurance &

Ethics

Business Level I

Business Level II

Corporate Level

Strategic Level

BL5Audit, Business

Processes & Digitalisation

CL1AdvancedAudit &

Assurance

Financial Accounting & Reporting

SL1Advanced Business Reporting

BL1Financial

Accounting

CL2Financial

Reporting & Governance

Performance Measurement

& Risk

BL6Management Accounting

BL2Business

Mathematics & Statistics

CL3Advanced

Management Accounting

SL2Corporate

Finance & Risk Management

Taxation & Law

BL7Business Taxation

CL4Corporate

Law

BL3Business

Law

SL3Corporate Taxation

Business Management

& Strategy

SL4Strategic

Management &

Leadership

BL8Digital

Business Strategy

BL4Business

Environment & Economics

SL5:Integrated Case Study

Curriculum Structure- Professional Knowledge


Detailed Curriculum

Level

Business Level II

Business Level I

Corporate Level

Strategic Level


PE2Professional experience II

PE3Professional experience III

Curriculum Structure - Professional Experience


Sub Pillar

PE1Professional experience I


Professional Skills

Level

Business Level II

Business Level I

Corporate Level

Strategic Level

CommunicationSkills

CS 2Business Communication II

CS 1Business Communication I

CS 3Corporate Communication

CS 4Strategic Communication

Information Technology

IT 1Business Information Technology

IT 2Corporate Information Technology

IT 3Information Technology and Data Analytics

Curriculum Structure - Professional Skills

Sub Pillar


Detailed Curriculum

2.5 PILLARSANDCOURSEUNITDESCRIPTORSBasedontheservicedemandsfromCA,thecurriculum2020focusesonthefollowingpillars:

CourseDescriptionforAudit,Assurance&EthicsSubPillar

Course Unit Level Description Curriculum Content Area Weightage

Audit,BusinessProcesses,andDigitisation

Business II

The aim of this courseunit is to introduce audit,business processes andinternal controls of theorganisations. In addition tothat,digitalisationandbusinessprocesses, ethical aspects ofassurance engagements andfundamentals of assuranceservicesarealsoconsidered.

Introductiontocorporategovernanceandrisks

15%

Businessprocessesandinternalcontrols

25%

Digitalisationandbusinessprocesses 10%

Ethicsandvalue 10%

Fundamentalsofauditandassurance 40%

AdvancedAuditandAssurance

Corporate The aim of this course unit istoexploreindetailtheinternalcontrol framework introducedin Business Level. In addition,theassuranceprocessinauditperspectiveisalsoexplored.

Governanceandinternalcontrolframeworks

10%

Auditplanningandriskassessment 15%

Gatheringauditevidence 25%

Auditinginadigitalenvironment 10%

Evaluatingevidenceandauditreporting 15%

Assuranceandrelatedservices 10%

Auditqualityandethics 15%

I I ProfessionalExperience(PE)I ProfessionalKnowledge(PK)

- Audit,Assurance&Ethics(AA&E)

- FinancialAccounting&Reporting(FA&R)

- PerformanceMeasurementandRisk(PM&R)

- TaxationandLaw(T&L)

- BusinessManagement&Strategy(BM&S)

I I I ProfessionalSkills(PS)

Audit,Assurance&Ethics(AA&E)SubPillarTheservicesrelatetoAudit,Assurance&Ethics(AA&E)providedtotheclientsandemployersbytheCAenvisagedintheAudit,Assurance&Ethics(AA&E)pillar.InthisregardsCAisexpectedtobeabletoperformtheserviceswhicharespecifiedinthelearningoutcomesofthethreecourseunitswithintheAA&Epillar.ThecourseunitshighlighttheCA’sroleofassuranceengagements,auditoffinancialstatements,otherassuranceservicesandgovernanceandriskmanagementindifferentcircumstanceswhichwouldaddmultipleprofessionalskillstoaCA.Here,thestudentisrequiredtogaingradualprogressionacrossthethreelevelsinthreecourseunits.FollowingtablepresentsthecourseunitsdescriptionofAA&Epillar.


AuditingStandardsApplicableforCurriculum2020

Course unit

BL5

- Aud

it,

Busin

ess

Proc

esse

s &

Dig

italis

ation

CL1

- Adv

ance

d Au

dit &

Ass

uran

ce

SL1

- Adv

ance

d Bu

sines

s Re

porti

ng

Auditing Standards

SRI LANKA STANDARD ON QUALITY CONTROL (SLSQC)SriLankaStandardonQualityControl (SLSQC)1,QualityControlforFirmsthatPerformAudits andReviewsofFinancial Statements, andOtherAssuranceandRelatedServicesEngagements

- B →

FRAMEWORK SriLankaFrameworkforAssuranceEngagements(asper2017VolumeIII) C B →AUDITS OF HISTORICAL FINANCIAL INFORMATION 200-299 GENERAL PRINCIPLES AND RESPONSIBILITIES SLAuS200 OverallObjectivesoftheIndependentAuditorandtheConductof

anAuditinAccordancewithSriLankaAuditingStandardsC B A

SLAuS210 AgreeingtheTermsofAuditEngagements C B →SLAuS220 QualityControlforanAuditofFinancialStatements - B →SLAuS230 AuditDocumentation C B →SLAuS240 TheAuditor'sResponsibilitiesRelatingtoFraudinanAuditof

FinancialStatementsC B A

SLAuS250 (Revised),ConsiderationofLawsandRegulationsinanAuditofFinancialStatement

C B →

SLAuS260 (Revised),CommunicationwithThoseChargedwithGovernance - C →SLAuS265 CommunicatingDeficienciesinInternalControltoThoseCharged

withGovernanceandManagement- B →

300-499 RISK ASSESSMENT AND RESPONSE TO ASSESSED RISKS SLAuS300 PlanninganAuditofFinancialStatements C B BSLAuS315 (Revised),IdentifyingandAssessingtheRisksofMaterial

MisstatementthroughUnderstandingtheEntityandItsEnvironmentB A B

SLAuS320 MaterialityinPlanningandPerforminganAudit C A →SLAuS330 TheAuditor’sResponsestoAssessedRisks C B →SLAuS402 AuditConsiderationsRelatingtoanEntityUsingaServiceOrganisation - B →SLAuS450 EvaluationofMisstatementsIdentifiedduringtheAudit - A →500-599 AUDIT EVIDENCE SLAuS500 AuditEvidence C A →SLAuS501 AuditEvidence—SpecificConsiderationsforSelectedItems D A →SLAuS505 ExternalConfirmations - B →SLAuS510 InitialAuditEngagements—OpeningBalances D C →SLAuS520 AnalyticalProcedures - B BSLAuS530 AuditSampling C B →


Detailed Curriculum

Course unit

BL5

- Aud

it,

Busin

ess

Proc

esse

s &

Dig

italis

ation

CL1

- Adv

ance

d Au

dit &

Ass

uran

ce

SL1

- Adv

ance

d Bu

sines

s Re

porti

ng

Auditing Standards

SLAuS540 AuditingAccountingEstimates,IncludingFairValueAccountingEstimates,andRelatedDisclosures

- B →

SLAuS550 RelatedParties C B →SLAuS560 SubsequentEvents C B →SLAuS570 (Revised),GoingConcern - A ASLAuS580 WrittenRepresentations C C →600-699 USING WORK OF OTHERS SLAuS600 SpecialConsiderations—AuditsofGroupFinancialStatements

(IncludingtheWorkofComponentAuditors)- B B

SLAuS610 (Revised),UsingtheWorkofInternalAuditors - B →SLAuS620 UsingtheWorkofanAuditor’sExpert - B →700-799AUDITCONCLUSIONSANDREPORTING SLAuS700 (Revised)ForminganOpinionandReportingonFinancial

StatementsC B →

SLAuS701 CommunicatingKeyAuditMattersintheIndependentAuditor’sReport

- B →

SLAuS705 (Revised),ModificationstotheOpinionintheIndependentAuditor’sReport

C B →

SLAuS706 (Revised),EmphasisofMatterParagraphsandOtherMatterParagraphsintheIndependentAuditor’sReport

C B →

SLAuS710 ComparativeInformation—CorrespondingFiguresandComparativeFinancialStatements

- B →

SLAuS720 (Revised),TheAuditor’sResponsibilitiesRelatingtoOtherInformationinDocumentsContainingAuditedFinancialStatements

- C →

800-899 SPECIALISED AREASSLAuS800 (Revised),SpecialConsiderations—AuditsofFinancialStatements

PreparedinAccordancewithSpecialPurposeFrameworks- B →

SLAuS805 (Revised),SpecialConsiderations—AuditsofSingleFinancialStatementsandSpecificElements,AccountsorItemsofaFinancialStatement

- B →

SLAuS810 (Revised),EngagementstoReportonSummaryFinancialStatements

- - -

SRI LANKA AUDITING PRACTICE NOTESSLAPN1000

SpecialConsiderationsinAuditingFinancialInstruments- - -


FinancialAccounting&Reporting(FA&R)SubPillarTheservicesrelatedtofinancialreportingprovidedtotheclientsandemployersbyCAareenvisagedinthisFA&Rpillar.FinancialAccounting&Reportingpillarcomprisesthreecourseunits,whichprovidestheroleoffinancialreportingand theapplicationof reporting framework indifferentcircumstances.TheCA is required togainadeeperunderstandingofthedomain.CAisexpectedtotakeagradualprogressionacrossthethreelevelsinthreedifferentyetcohesivecourseunits.BelowtablepresentsthecoursedescriptionofFA&Rpillar.

CoursedescriptionofFinancialAccounting&ReportingSubPillar


FinancialAccounting

Business The aim of this course unit is toinduce thorough knowledge offundamentals of accounting inany type of organisation. Further,studentsalsolearntheimpactofITinfinancialaccounting.

Accountingandthebusinessenvironment

10%

Conceptualframeworkforfinancialreporting

10%

Accountingsystemsandfunctions 20%

Financialreporting 30%

Financialstatementsanalysis 10%

Financialreportingstandards 20%

FinancialReporting,Governance&Ethics

Corporate Theaimofthiscourseunitistoequipstudentswith sound knowledge ofapplicationofaccountingstandardsin financial reporting in any typeof organisation. A student gainsan application of how financialaccountingintegrateswithdecisionmaking.

Regulatoryframeworkforfinancialreporting

10%

SriLankaAccountingStandards(SLFRS/LKAS/IFRIC/SIC)

50%

Preparationoffinancialstatements

25%

Financialstatementanalysisandnon-financialreporting

10%

Financialreportingethics&governance

5%

AdvancedBusinessReporting

Strategic The aim of this course unit is toequipstudentswithcomprehensiveknowledge of financial reporting.Advisory knowledge of financialreporting, critically analysesdifferenttypesofreportingpracticesalso expected. Further, studentsare required to gain how financialaccountingintegrateswithdecision-makingandstrategiesthroughcasescenarios, which provide a richprofessional context. Ethical issuesarising from financial reportingin dealing with stakeholders alsoexpectedtolearninthisunit.

InterpretationandapplicationofSriLankaAccountingStandards(SLFRS/LKAS/IFRIC/SIC)andrecentdevelopmentsinfinancialreporting

35%

Preparationandpresentationofconsolidatedfinancialstatements

30%

Analyseinterpretationsandcommunicationoffinancialresults

25%

Corporategovernanceandnon-financialreporting

5%

Ethicalissuesinfinancialreportingandtheregulatoryframework

5%


Detailed Curriculum

PerformanceMeasurementandRisk(PM&R)SubPillarTheservicesrelatetoPerformanceMeasurementandRisk(PM&R)providedtotheclientsandemployersbyCAareenvisagedinthisPM&Rpillar.Thispillarcomprisesoffourcourseunitswhichgenerallyoutlinestheroleofperformancemeasurementandfinancialdecisionmakingbyinternalandexternalusersofeconomicinformationinanerawherefirmsareseekingwaystostrengthentheirfinancialequity,thePerformanceMeasurementandRiskwhichwillenableunderstandingoftheseissuesandtherebyCAtogainacomprehensiveknowledge.ThiswouldbeoneoftheimportantprofessionalskillswhereaCAwillbeprogressivedirectedtowardssmoothandsuccessfulcompletionoftheseunits.FollowingtablepresentsthecoursedescriptionofPerformanceMeasurementandRiskpillar.

CourseDescriptionforPerformanceMeasurementandRiskSubPillar


BusinessMathematicsandStatistics

Business Level I

Theaimofthiscourseunitistoobtain thorough understandingoffundamentalsofmathematicalcalculations and statisticalapplications that are used inbusiness. Further, the studentshould be able to use softwarepackages to assist statisticalanalysisandinterpretation.

Basicskillsofcomputations 10%

Mathematicsontimevalueofmoney

10%

EquationsandAlgebra 10%

Pre-Calculusandbasicsofcalculus 20%

Basicprinciplesofstatistics 15%

Probabilityandnormaldistribution 15%

Solutionsforbusinessproblemsandstatisticsfordecisionsmaking

20%

ManagementAccounting

Business Level II

The aim of this course unitis to obtain fundamentals inmanagement accounting andtheapplicationoftheknowledgein operational/tactical leveldecision-making. Usage of IT inpreparationofvariousreportsisafurtherrequirementinthislevel.

BasicsofManagementandcostaccounting

20%

Profitmeasurementandinventoryvaluation

30%

Decisionmaking 25%

Planning,controlandperformancemeasurement

25%

AdvancedManagementAccounting

Corporate The aim of this course unitis to apply the managementaccountingknowledgeincomplexstrategic business decisions.Further, the strategic andenvironmentalaspectsofbusinessdecisions to be consideredin this level. Knowledge of ITusage in providing managementaccounting information is alsoexpected.

Decisionmaking 40%

Planning,controlandperformancemeasurement

30%

StrategicaspectsofManagementAccounting

20%

EnvironmentalManagementaccounting

10%


CourseDescriptionofTaxationandLawSubPillar


BusinessLaw Business Level I

This course aims to provide anoverall understanding of the legalenvironment in business whichcovers law of contracts, sales,merchandising etc. in conductof business both local and ininternationalcontext.

IntroductiontotheLawsandRegulatoryframeworkofSriLanka

5%

LawofContracts 15%

SaleofGoods 15%

NegotiableInstruments 7%

LawofAgency 10%

LawofPartnership 10%

LawofInsurance,LeasingandHire-PurchaseandLoans

7%

LabourLaw 5%

OffensesRelatedtotheBusinessEnvironmentandNewLaws

5%

InternationalTrade 5%

SecuritiesRegimeinSriLanka 5%

AlternateDisputeResolution 5%

Anti-MoneyLaundering 6%

TaxationandLaw(T&L)SubPillarTheservicesrelatedtotaxationandlawwhichareprovidedtotheclientsandemployersbytheCAisenvisagedinthisT&Lpillar.TheT&Lpillarcomprisesfourcourseunits,whichgenerallyprovidesthethoroughknowledgeofthetaxationand legal requirements inbusiness.This is importantasfirmsneed legaladvisoryfromCAs inmattersrelatedtoannualtaxmanagementi.e.thedevelopmentoftaxationplans.Thiswaythestudentsareabletogainknowledgeaboutthecurrenttaxationsystemandadeeperunderstandingofthelegalsystemaswellasthesourcesoflawwithinthecountrykeepingabreastwiththeseindustryrequirements.ACAisenvisionedasgainingsmoothandsuccessfulprogressionacrossthethreelevelsinfourcourseunits.FollowingTablepresentsthecoursedescriptionofT&Lpillar.


CorporateFinance&RiskManagement

Strategic The aim of this course unit isto achieve a comprehensiveknowledge on financialmanagementanditsapplicationsunder different contexts ofcomplex decision making thatinvolves risk and uncertainty.Further, students should gainknowledge on valuing financialassetsfordiversepurposesusingappropriate techniqueswith thehelpofcomputersoftware.

Firmandoverviewoffinance 5%

Valuationoffinancialassets 35%

Investmentappraisal 20%

Capitalstructureandfinancing 25%

Riskmanagement 15%


Detailed Curriculum


BusinessTaxation

Business Level II

This course unit aims to developtechnical andbasicunderstandingof the taxation in Sri Lanka. Thiscoversthe legalframeworkofthetaxation and the administrativestructureinSriLankaandtheself-assessmenttaxsystem,taxationofproprietary and partnership andVATinnon-complexscenario.

IntroductiontoTaxation 5%

Incometaxliabilityofaresidentindividual

25%

Basicincometaxliabilityofaresidentcompany

10%

Gainsfromrealisationofassets 10%

ValueAddedTax 10%

Othertaxesapplicabletobusinesses

10%

Basictaxadministrationandpaymentoftax

10%

Withholdingtax 10%

Taxationofotherpersons&entities

10%

CorporateLaw

Corporate This course unit aims to impartknowledge on legal requirementsrelation to companies fromincorporation towindupprocess.Further,workrelatedtosecretarialservices in companies are alsodiscussed.

Featuresofacompany&corporatepersonality

10%

Incorporationofacompany 10%

Equityanddebtcapital 10%

Directors,CompanySecretary,Auditors

10%

Meetings,resolutionsandcompanyrecords

10%

Windingup 10%

Minorityrights 10%

Companiesotherthanprivatelimitedcompanies

10%

ListingacompanyintheColomboStockExchange

10%

Otherlawsadjacenttocorporatelaw 10%

CorporateTaxation

Strategic This course unit aims to discusscorporatetaxation,whichincludes,tax planning, taxing of a singlecompanyandgroupofcompanies,adjustments for dividend tax etcin complexbusiness environment.In addition, to ensure studentspossess a sound knowledge oflegitimatetaxplans,minimisingthetax expenses, and mitigating therisk.Applicationofincometaxationforinternationaltransactionalsobediscussedinthisunit.Italsoenableeffective communication withclients, employers, tax authoritiesetc.

Incometaxliabilityofaresidentcompany

40%

Taxationandbusinessdecisionmaking

10%

Taxationofnon-residentsandinternationaltaxation

10%

Statutoryprovisionsandcaselaw 10%

ManagementofValue-AddedTax(VAT)

10%

Taxplanningandadvising 10%

Contemporaryissuesintaxation 10%


BusinessManagement&Strategy(BM&S)SubPillarTheservicesinrelationtoBusinessManagement&Strategy(BM&S)providedtoclientsandemployersbytheCA isenvisaged in thisBM&Spillar.Withfirms facingsomesustainabilityandgrowth issues,firmsemployingCAsexpect themtohaveadeeperunderstandingofstrategic issues facingabusiness.This includesstrategyformulation,strategyimplementation,strategiccontrolandinformationtechnology.BM&Spillarcomprisesthreecourseunits,whichgenerallyprovidesknowledgeofdevelopmentofentity’sbusinessstrategies,businessplanningandoffersadviceonriskmanagementandcontrolofabusinessenterprise.Thispillarisdesignedbykeepinginview these industry expectations.Moreover, aCA should be able to perform those aspects of services.TheBusinessManagement&Strategypillardirectsstudentstodevelopagradualprogressionacrosstheassessmentlevelsinthreecourseunits.FollowingtablepresentsthecoursedescriptionofBM&Spillar.

CourseDescriptionforBusinessManagement&StrategySubPillar


BusinessEnvironmentandEconomics

Business Level I

Thiscourseunitaimstoprovidea thorough understandingof fundamentals of businessmanagement and economics inordertoenhancetheproductivityof organisations throughsuccessful strategic initiatives.Further, it is required to obtainthe basic knowledge relating tofunctionalareasofthebusiness.

Businessandorganisationalenvironment

5%

Natureandscopeofbusinessmanagement

5%

Functionsofmanagement 20%

Functionalareasofbusinesses 30%

Roleofeconomicsinbusiness 5%

Pricemechanismandcompetitivemarkets

10%

Production,cost,priceandoutputdecisions

10%

Macroeconomicenvironmentandbusiness

15%

DigitalBusinessStrategy

Business Level II

The aim of the course unit isto identify effective integrationof technology and strategyplanning.

Further, a student should gainsoundknowledgeaboutthenewtechnology application in thebusinessstrategicprocess.

IntroductiontoBusinessStrategyandTechnology

20%

ManagingInformationinbusiness 25%

NatureandscopeofebusinessMarketing

30%

StrategiesinDigitalAge 25%

StrategicManagementandLeadership

Strategic Theaimof thecourseunit is tounderstand the key conceptsof strategic management andapplicationofstrategicmodelsfordevelopingbusinessstrategiesinstrategic business units. Further,a student should gain soundknowledge about the advancedtechnology application in thestrategic management processfor developing competitiveadvantagesofthebusinesses.

Strategyandcompetitiveadvantages

10%

Environmentanalysisandstrategicposition

10%

Strategyformulation 40%

Strategyimplementationandcontrol

20%

TechnologyanddataanalyticsinStrategicManagement

10%

Strategiesforinternationalisation 10%


Detailed Curriculum

Integrated Case studyCA Curriculum 2020 recognises that diagnosis of the issues, analysis, evaluating, decision-making, andimplementationareactionskillsofincreasingimportancetoCAprofessionals.Thecasestudyscenariocoveringdemonstrationofknowledge,skillsandpracticalapplicationfrommultipleareasoftheCACurriculum,providingstudentstheopportunitytoenhancetheirapproachofanalysingandsolvingbusinessproblems.

CA case study course unit comprises three interrelated components; theories, empirical evidence and caseanalysis.Main part of this course is developing a case basedon theories and empirical evidence relevant toaccountingandbusinessdecisionmaking.Empiricalevidencesareselectedfromrenownedresearcharticlesandotherpublicationstoprovidetheoreticalbackgroundandempiricalevidencerelatedtothetopicsexaminedinthecase.BelowTablepresentsthecoursedescriptionofIntegratedCaseStudy.

CourseDescriptionofIntegratedCaseStudy


IntegratedCaseStudy

Strategic The aim of this course unitis to synthesise theoryand application to preparestudents for dynamics of real-world accounting practices;diagnosingproblemsandissues,analysing and evaluating therelevant information to makefeasiblesolutionsandreportingof decisions. This unit uses acase study, (seen and unseen)by using recent contemporaryissuesandresearchevidence.

Corporatefinanceandriskmanagement

20%

Taxandregulatoryenvironment 10%

Corporategovernance,ethicsandcontrolenvironment

5%

Businessandfunctionalstrategy 15%

Corporatestrategy 30%

Contemporaryissuesinaccounting,financeandmanagement.

20%


ProfessionalExperience(PE)PillarProfessionalexperienceisapartoftheCurriculumthatwillenablestudentstodevelopprofessionalskillsleadingtoeffectivelyperformaroleasaCA.

The Professional Experience pillar requires sufficient practical experience to enable students to demonstratethattheyhavegainedIntellectual & Ethical thinking, Personal and Lifelong Learning, Adaptability & Flexibility, Interpersonal, Communication and Leadership, Networking and Social Skills, Organisational, Managerial & Entrepreneurship SkillswhicharenecessaryforperformingaroleofaCA.ProfessionalexperiencerequirementsaredevelopedbasedonIFACIES5,InitialProfessionalDevelopment—ProfessionalExperience.Three-yearperiodofProfessional experience shouldbecompleted inanapprovedorganisation in theauditornon-audit sectorunderthesupervisionofamemberofCASriLanka.BelowTablepresentsthecoursedescriptionofProfessionalExperiencepillar.

CourseDescriptionforProfessionalExperiencePillar

Course Unit Level Description Curriculum Content Area

ProfessionalExperienceI

Business Theaimofthecourseunitistodevelopbasictechnical competencies, professional skillsnecessary for the role and responsibilities,applying to real situations and professionalvalues,ethics,andattitudes.

• Financialaccounting• Audit&assuranceexperience• Taxation• Managementaccounting&Financialmanagement

• Informationtechnology• Generalmanagementandsecretarialpractice

ProfessionalExperienceII

Corporate The aim of this course unit is to developadvanced technical competencies,professional skillsnecessary for the roleandresponsibilities,applyingtorealsituationsandprofessionalvalues,ethics,andattitudes.

• Financialaccounting

• Audit&assuranceexperience

• Taxation

• Managementaccounting&financialmanagement

• Informationtechnology

• Generalmanagement&secretarialpractice

ProfessionalExperienceIII

Strategic The aim of this course unit is to develophigh level of professional judgment inbusiness decisions and solutions, technicalcompetencies, personal attributes necessaryfor the role and responsibilities, applyinglearning outcomes and technical knowledgeto real situations and professional values,ethics,andattitudes.Developingacasestudybythestudentbasedonthe issues/disputesidentified and resolved during the trainingperiodisexpected.

• Financialaccounting

• Audit&assuranceexperience

• Taxation

• Managementaccounting&Financialmanagement

• Informationtechnology

• Generalmanagement&secretarialpractice


Detailed Curriculum

ProfessionalSkills(PS)PillarProfessionalSkillspillarcomprisestwoareas,BusinessCommunicationandIT.Theobjectiveofthispillar istoenhancethestudents’communicationskillsandITtogainbettercareerprospects.This isdevelopedwiththefocusofenhancingtwobroadareasofperformance.CAsarerequiredtogaingradualprogressionacrossfourlevelsinfourcourseunitsineacharea.Allarecompulsoryunitswhicharevalue-additionstotheCACurriculum.

CourseDescriptionforBusinessCommunicationSkillsSubPillar

Course Unit Level Description Curriculum Content Area

Weightage

BusinessCommunicationI

Business Level I

Thiscourseunithelpsstudentstoenhancetheirbusiness communication skills while gainingacademic success. Students are expected toimprove their reading, writing, speaking andlistening in both academic and professionalsettings.

Reading 30%

Writing 30%

Listening 20%

Speaking 20%

BusinessCommunicationII

Business Level II

This course unit further helps students buildskills of analytical and interpretive argument;and through this programme, students areexpected to improve their reading, writing,speaking and listening English in worksituations.

Reading 30%

Writing 30%

Listening 20%

Speaking 20%

CorporateCommunication

Corporate Level

Students will further familiarise with thesubjectandwillenhancetheirabilitiestoworkinthecorporatesector.Thecourseintendstoenhancestudent’scapacitytoengageinmorecomplexbusinesssituationsgraspingadvancedtexts and developing more comprehensivedocuments while actively participating inadvanced writing and speaking assertively. Italsoguidesstudentstoparticipate inmeetingconfidently and communicate effectively invarioussituations.

Reading 25%

Writing 25%

Listening 25%

Speaking 25%

StrategicCommunication

Strategic Level

Studentswillgainnecessarysoftskillsandwillenhancetheirabilitytowork inthecorporatesector. The course intends to strengthen astudent’s capacity to engage in negotiations,business meetings and engage in publicspeaking confidently, and communicateeffectively in various situations. Further, thestudentsshouldparticipate ingroupactivitiesinvarioustopics intheclasstoenhancetheirskills.

A residential programme on entrepreneurshipskills,businessacumenandprofessionalskills.

PublicSpeakingSkills

40%

Negotiation&ConflictResolutionSkills

20%

PersonalBranding&BusinessEtiquette

20%

AdvancedBusinessReportingWritingSkills

20%


CourseDescriptionofInformationTechnologySubPillar


BusinessInformationTechnology

Business This introductory courseunit aims toenhance the capacity of students tobenefitfrominformationtechnologiesnow, and in the future. This courseis intended to equip the student toidentifyanddescribe thekeyaspectsof modern information and alsocommunication technologies, identifyanddebatethebroadersocietalissuesand emerging trends relating to IT,apply a Microsoft Office applicationsuchasMSWord,MSExceltouseinreal-worldscenarios.Thisunitfurtherprovidesaccountingpackages.

BasicprinciplesofIT 10%

Officeskills 35%

UseofInternet 5%

AccountingpackageforSMEs

50%

CorporateInformationTechnology

Corporate The aim of this course unit is tocreate and manage online accounts,databases and pages. Further, thecourse introduces how IT integrateswith and supports business-relatedactivities, exhibit a superior capacityto adapt to, and benefit from, thecontinued rapid development ofinformationandtechnologies.Thisunitis further, developed by introducinghow to prepare automated financialmodels,andERPsystems.

ITForbusinessdecisions 10%

Informationsecuritymanagement

5%

BusinessInformationSystems

75%

EmergenceofEnterprisecontext

10%

InformationTechnologyandDataAnalytics

Strategic ThiscourseteacheshowITintegrateswith and supports business-relatedactivities, and to exhibit a superiorcapacity to adapt to, and benefitfrom, the rapid development ofinformation and technologies. Itfurther studies Enterprise systemssuchasEnterpriseResourcePlanning(ERP) systems, applications such asCustomer Resource Management(CRM) systems, Data Warehousing(DW)andDataMining(DM)systems,Advanced Planning and Scheduling(APS)systems.

ITandstrategy 20%

ContemporarytopicsinIT 25%

BusinessInformationSystems/EnterpriseResourcePlanning(ERP)

20%

BusinessAnalytics 15%

Auditapplications 20%


Detailed Curriculum

Credit Structure

Level of studyProfessional Knowledge


Total

Credit Value

Strategic Level

AdvancedBusinessReporting 7

15

CorporateFinance&RiskManagement 7

CorporateTaxation 7

StrategicManagementandLeadership 7

IntegratedCaseStudy 12

55

Corporate Level

AdvancedAuditandAssurance 5

15CorporateFinancialReporting&Governance 5

AdvancedManagementAccounting 5

CorporateLaw 5

35

Business Level I

FinancialAccounting 6

15

BusinessMathematicsandStatistics 5

BusinessLaw 5

BusinessEnvironmentandEconomics 5

Business Level II

Audit,Businessprocesses&Digitalisation 6

ManagementAccounting 6

BusinessTaxation 6

DigitalBusinessStrategy 6

60

Total 105 45 150


3Performance Assessment Methodology

3.1 PROFESSIONALKNOWLEDGEPILLAR-ASSESSMENTMETHODOLOGYTheassessmentstrategyinfulfillingtherequirementsoftheProfessionalknowledgepillarisgivenintablebelow.Theassessmentsarebylevels.

ProfessionalKnowledgePillars–AssessmentMethodologybyLevels

Level Assessment Methodology

Business Total 100 marks:

Fifty(50)multiplechoice,drag&drop,fillintheblanks,Matchingquestions,etc.oftwomarkseach(includingminiscenariobased/functionalscenariobasedquestions)

Mode: Computer-basedassessment

Time :02hours

Pass Mark: 50percentCorporate Total 100 marks:

Section 01; (20marks);Ten(10)multiplechoice,fillintheblanks,Matchingquestions,etc.oftwomarkseach(includingscenariobasedquestions)

Section 02; (40marks):Four(4)questionsoften(10)markseachbasedonminiscenarioleadingtonon-complexapplicationsandanalysis.

Section 03; (40marks):Two(2)questionsoftwenty(20)marks,eachquestionsoncomplexscenariobasedanalysisandapplications.

Mode: Paperbasedexamination

Open book:FinancialReportingandGovernance,CorporateLaw

Time:03hours

Pass Mark: 50percent


Detailed Curriculum


Strategic Total 100 marks:

Section 1;(50marks):Two(2)questionsoftwentyfive(25)markseach,complexscenariosrequiringevaluationandsolutionsbasedonsynthesis.

Section 2;(50marks):Common‘pre-seen’providedpriortotheexamtofamiliarisewithparticularbusinesscontext, and at exam ‘un-seen’material provided to set the scene for assessment under eachcourseunit.Answeringneedsabalancingofanumberofangles,anddeliveredinaprofessionalmanner.

Mode: Paperbasedexamination

Open book : AdvancedBusinessReporting,CorporateTaxation

Time : 03hours

Pass Mark: 50percentIntegratedCase Study

Total 100 marks:

Section 1;(20 Marks): Assignment on ‘Contemporary Issues’ based on theories and authentic researchevidence.

*Minimum10marksrequiredtoprogresstoCaseStudyExamination.

Section 2;(80marks):‘Pre-seen’providedpriortotheexamandanintegrated‘un-seen’providedattheexam.Studentswill be tested onmulti-facet issue identification and required to present appropriaterecommendationsinaprofessionalreportformat.

Mode: Paperbasedexamination-Openbook

Time : 04hours

Pass Mark: 50percent


3.2 ACTIONVERBSCHECKLISTVerbsusedintheCACurriculum-2020areclassifiedasfollows:

Competencies

Knowledge Comprehension Application Analysis Synthesis Evaluation

Define Calculate/Compute Apply Analyse Anticipate Advise

Draw Classify Assess Compare Compile Convince

Identify Describe Communicate Contrast Design Criticise

List Discuss Demonstrate Differentiate Draft Conclude

Relate Explain Display Outline Develop Determine

State Interpret Graph Formulate Drawconclusions

Recognise Perform Plan Evaluate

Record Prepare Prepare Justify

Summarise Priorities Report Recommend

Provide(examples) Reconcile Submit Review

Set Suggest Resolve

Select Validate

Solve

Use

Undertake

Eachverbdescribesinthecurriculumisassignedthefollowingmeanings.

Tableofmeanings

Verb Meaning

Anticipate Foresee,orexperienceorrealisebeforehand

Advise Counsel,informornotifyinamannersuitedtotherecipient

Analyse Examineindetailinordertodiscoveressentialfeatures

Apply Puttoaparticularuse

Assess Judgethevalue,importanceorqualitiesof

Calculate/Compute Determinebycomputationorarriveatbymathematicalmeansorprocesses

Classify Allocateintocategories

Communicate Transmitthoughtsorknowledge

Compare Showthesimilarities,differencesorboth


Detailed Curriculum

Verb Meaning

Compile Producebyassemblinginformationcollectedfromvarioussources

Convince Topersuadeotherstobelievesomethingusingevidenceand/arguments

ConcludeFormajudgmentabout,ordetermineorresolvetheoutcomeof,anissuethroughaprocessinvolvingreasoning

Contrast Examineinordertoshowunlikenessordifferences

Criticise Formandexpressajudgment

Define Givetheacceptedmeaning

Demonstrate Proveorshowbyadequatemeans

Describe Communicatethekeyfeatures

Design Devisetheformorstructureofsomething

Determine Ascertainorconcludeafteranalysisandconsideration;judge

Display Makeevidentornoticeable

DiscussExamineindetailbyargumentshowingdifferentaspectsofthearguments(e.g.proandcon)

Draft Writeoriginalmaterialforthescrutinyofothers

Draw Produce(apictureordiagram)

Evaluate Appraisemeaningorsignificance

Explain Makeclearorintelligible.Statethemeaningof/reasonsfor

Formulate Deviseandputintowords

Identify Recogniseorselect[something]afteranalysisandconsideration

Interpret Givemeaningoforclarify

Justify Givevalidreasonsorevidencefor

List Writetheconnecteditemsonebelowtheother

Manage Direct,control,administer,orguide


Verb Meaning

Perform Doorexecute,usuallyinthesenseofacomplexprocedure

Plan Devisetheplanforanassuranceengagement

Prepare Makeorgetreadyforuse

Present Impartinformationinanacceptableorpre-definedformat

Priorities Arrangeordoinorderofimportance

Provideexamples Giveillustrationstosupportorilluminateapointorassertion

Recommend Proposeasthebestcourseofactionorchoice

Reconcile Makeorproveconsistentorcompatibleorshowdifferences

Record Enterdetailsoftransactionsinanentity’srecords(notaccounting)

Relate Toestablishlogicalorcasualconnections

Report Givetheformalfinalconclusionforanassuranceengagement

Review Studycriticallywithaviewtocorrectionorimprovement

Resolve Settleorfindasolutiontoaproblemorcontentiousmatters

Set Fixorestablish

Select Choosefromarangeofoptionsorpossibilities

State Giveorassent

Submit Sendacompleteddocumenttoaparticularparty

Suggest Putforwardanideaorgivereasons

Undertake Committodoorperform

Use Applyinapracticalway

Validate Checkorprovetheaccuracy


Detailed Curriculum

3.3 PROFESSIONALSKILLSASSESSMENTMETHODOLOGYBusinessCommunicationSkillsPillarThe assessment strategy in fulfilling the requirementsof theCommunicationSkills sub-pillar is given in tablebelow.Theassessmentsarebylevels.

Level Business Communication

Business Placement test in diagnosing Students’ competencies. Students will be assessed on threeindependentcontinuousassessmentsandafinalexam.

Mode:Computer-basedAssessment

Corporate Placement test in diagnosing students’ competencies. Students will be assessed on twoindependentcontinuousassessmentsandafinalexam.


Strategic Twocontinuousin-ProgrammeassessmentsbasedonProfessionalCommunication.

InformationTechnologyPillarTheassessmentstrategyinfulfillingtherequirementsoftheInformationTechnologySkillssubpillarisgivenintablebelow.Theassessmentsarebylevels.

Level Information Technology

Business Students will be assessed on MCQ based independent assessment and non-complex miniscenario-basedfinalexamination.


Corporate StudentswillbeassessedonMCQbasedindependentassessmentandminiscenarioanddatasetbasedfinalexamination.


Strategic Studentswillbeassessedonindependentassignmentonbusinessanalyticsanddatasetbasedfinalexamination.



3.4 PROFESSIONALEXPERIENCEASSESSMENTMETHODOLOGYProfessionalExperiencePillar–AssessmentStrategybyLevels


Stra

tegi

c

Input Assessment:

Aminimumof220workingdaysofpracticalworkexperiencetobeobtainedatanapprovedtrainingorganisation.

Output Assessment:

• ‘SkillsAssessmentReport’bythesupervisingmember(tobesubmittedbiannually)

• Training Record Book content evaluated through one-to-one interview by an assessingmember(minimumoneassessmentannually)

• ‘CaseStudyReport’bythestudent(tobesubmittedannually)

Additionally at full completion of the training requirement:

• FinalViva-VoceComponents:

- Interview

- Onlineprofessionalvalues,ethicsandattitudesmodule

- ProfessionalPracticeManagementModule(forpracticingcertificateonly)

• 2 years of professional experience in a public practice organisation after completing qualifiedexaminationsubjecttoCPDrequirementofCASriLanka(forpracticingcertificateonly).

Corp

orat

e

Input Assessment:


Output Assessment:


• Training Record Book content evaluated through one-to-one interview by an assessingmember(minimumoneassessmentannually)‘CaseStudyReport’bythestudent(tobesubmittedannually)

• VivaVocePresentation

• Onlineprofessionalvalues,ethicsandattitudesmodule

Busin

ess

Input Assessment:


Output Assessment:


• Training Record Book content evaluated through one-to-one interview by an assessingmember(minimumoneassessmentannually)‘CaseStudyReport’bythestudent(tobesubmittedannually)

• VivaVocePresentation

• Onlineprofessionalvalues,ethicsandattitudesmodule


Detailed Curriculum

4IFACInternationalEducationStandardsCompliance

AsafullmemberoftheInternationalFederationofAccountants(IFAC),CASriLankaiscommittedtoimplementIESsrequirements.Hence,CACurriculum2020fulfillstherequirementsofIFACandtheInternationalEducationStandard(IES,2017).TheIESprescribesthelearningoutcomesfortechnicalcompetencethataspiringprofessionalaccountantsarerequiredtoachievebytheendoftheInitialProfessionalDevelopment(IPD).Furthermore,CACurriculum2020hasbeendevelopedbasedonCommonContentforProfessionalAccountancyQualifications(2017),andSriLankaQualificationFramework(SLQF).


5Eligibilitycriteria

QualificationDescriptors

Business Level Corporate Level Strategic LevelI II

Entry Requirements

GCEA/L3Subjectsordinarypassorequivalent

ShouldcompleteallBusinessLevelcourseunits

ShouldcompleteallBusinessLevelcourseunitsandtheunitsinthesamepillarinCorporateLevel.

ShouldcompleteallothercourseunitsintheStrategicLeveltositCaseStudy.

CASriLankaisconsideringtoencouragedirectgraduateentryatCCAqualificationLevelofCAProgramme,undermutualrecognitionagreements.

Criteria to sit for the Examination

Allcourseunitscanbesatatonceorunit-wise.

Noprofessionalexperienceisrequiredtositforthe

examination


Noprofessionalexperienceisrequiredtositfortheexamination


CorporateLeveltrainingisrequiredtositforthislevelunits(afterbeingeligibleforCBA).

Mode of Assessments (other than professional experience)

AllunitswillbeassessedComputer-based/Online

Assessments

Assessedbypaper-basedExaminations–openbook:• FinancialreportingandGovernance

• Corporatelaw

Assessedbypaper-basedExaminations–Openbook


Assessedbyinputandoutputbasedwithcasestudy-basedViva-voceexamination



Teaching and Learning

Blendedlearning(Web-basedandinclassroom)

BlendedLearning(Web-basedandinclassroom)inclassroom)

BlendedLearning(Web-basedandinclassroom)


Detailed Curriculum

6Detailed Curriculum

Corporate Level

Business Level II

Business Level I

Strategic Level

6.1 BUSINESSLEVELI


Pillar : Financial Accounting & Reporting Course Unit : Financial AccountingMain Curriculum Areas Weightage Notional hours

A. Accountingandbusinessenvironment 10% 30

B. Conceptualframeworkforfinancialreporting 10% 30

C. Accountingsystemsandfunctions 20% 60

D. Financialreporting 30% 90

E. Financialstatementsanalysis 10% 30

F. Financialreportingstandards 20% 60

Total 100% 300


Detailed Curriculum

A. Accounting and business environment : 10%Knowledge Component Learning Outcomes Specific Knowledge1.1 Organisational

context, accountability and accounting

1.1.1 Identifyorganisationalcontextsandtheneedofaccounting.

Natureofbusinessorganisationsandcontrolstructures.

1.1.2 Identifythegovernancestructureoforganisationsandtheirimplicationsonaccounting.

Thedevelopmentofaccountingasaprofession. Thegrowthoftrade. Industrialexpansion. Multinationalsandglobalisation.

B. Conceptual framework for financial reporting : 10%Knowledge Component Learning Outcomes Specific Knowledge2.1 The objectives

of financial information

2.1.1 Explainobjectivesofthefinancialstatements(Reasoningoutthecontentoffinancialstatements).

Usersoffinancialinformationandtheirinformationneeds.Theeconomicsofinformation.Organisationalgovernance.TheregulatorycontextinfinancialreportinginSriLanka.Thelegalandthecommercialviewofaccounting.Theethicsinaccountingandbusiness.

2.1.2 Explainhowaccountinginformationassistdecisionmaking.

Internalreportingandexternalreporting.

2.1.3 Identifyexternalenvironmentalfactorsinfluencetheaccountingprocess.

Externalenvironmentfactors.

2.1.4 Identifythelimitationsoffinancialinformation.

LimitationsoffinancialInformations.

2.2 Qualitative characteristics of financial information

2.2.1 Explainthequalitativecharacteristicsoffinancialinformationandtheconstraints(Judgetheusefulnessofaccountinginformation).

InternationalAccountingStandardBoard(IASB)/ConceptualFramework.

2.2.2 Explaintheunderlyingassumptionsoffinancialreporting.

Conceptsandprinciples.

2.2.3 ExplaintheunderlyingAccountingmeasurementconceptsandprinciples.

2.3 Basic elements and components of financial statements

2.3.1 Identifythebasicelementsoffinancialstatements.

Assets,Liabilities,Equity,IncomeandExpenditure.


Knowledge Component Learning Outcomes Specific Knowledge2.3.2 Identifycomponentsoffinancial

statements.Incomestatement,statementoffinancialposition,statementofcashflows,statementofchangesinequityandnotes.

2.3.3 Explainprinciplesforrecognisingtheelementsoffinancialstatements.

RecognitionofAssets,Liabilities,Equity,IncomeandExpenditure.

2.3.4 Distinguishbetweenalternativebasesformeasuringtheelementsoffinancialstatements.

Historicalcost,Currentcost,Realisablecost,presentvalue.

2.3.5 Outlineconceptofcapitalmaintenance.

Generalpricelevelaccountingsystemandcurrentvaluesystem.

C. Accounting systems and functions : 20% Knowledge Component Learning Outcomes Specific Knowledge3.1 Maintaining

financial records3.1.1 Explainwhyanentitymaintains

financialrecords.Importanceoffinancialrecords.

3.1.2 Identifythesourcedocumentsandotheraccountingrecords.

Sourcedocumentsandfinancialrecords.

3.1.3 Explainthepurposeofmaintainingtheprimarybooks.

PreparationofjournalsandCashBook.

3.1.4 ExplainthepurposeofmaintainingtheLedgers.

Specialledgersandcontrolaccounts.

3.2 Recording process of Transaction

3.2.1 Explaintheconceptof‘dualaspect’. Doubleentryconcepts.3.2.2 Relatetheconnectionbetweendual

aspectandaccountingequation.Assets,liabilities,capitalandtheaccountingequation.

3.2.3Discusstheprinciplesofdouble-entryaccounting.

TheaccountingequationandtheStatementofFinancialPosition).

3.2.4 Recordandaccountfortransactionsandevents(accountinginputs).

Bookkeeping(ledgers,booksofprimeentryandjournals).

3.2.5 Prepareatrialbalanceandexplainissues.

Trialbalance.

3.2.6 Identifyandrecordtheclosingentriesandyear-endadjustments.

Journalentriesforclosingentriesanderrorcorrections.

3.2.7 Identifyandcorrecterrorsinaccounting.

Errorsandcorrectionoferrors.

3.2.8 Statethepurposeofcontrolaccounts.

PreparationofControlAccounts.

3.2.9 Preparecontrolaccountsandreconciliationstatements.

Reconciliationofledgerandotheraccounts.

3.2.10Statethepurposeofbankreconciliationstatementsandstatetheneedofusingbankstatementsforupdatingaccountingrecords.

PreparationofthebankReconciliationStatement.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge3.2.11Preparethebankreconciliation

statements.Reconciliationofbankaccounts.

3.2.12Explainhowinformationtechnologyhastransformedtheaccountingprocess.

AccountingsoftwaresandERPsystem.

D. Financial reporting : 30% Knowledge Component Learning Outcomes Specific Knowledge.4.1 Financial

statements for sole proprietorships including manufacturing accounts

4.1.1 Describehowtoreportfinancialpositionandresultsofoperationsofasoleproprietorbusinessentity.

StatementoffinancialpositionandIncomestatement.

4.1.2 Preparefinancialstatementsforsoleproprietorships.

4.1.3 IdentifytheCashinflowsandoutflows.

PreparationofthestatementofCashInflowsandOutflows.

4.1.4 Identifyingwaysandmeansofmanagingavailableinformationforpreparingfinancialstatements.

Financialstatementsfromincompleterecords.

4.2 Financial statements for Partnerships

4.2.1 Explainchangesinrelationtoaccountingforpartnership.

CurrentaccountsandCapitalaccounts.

4.2.2 Explainthepurposeoftheprofit/lossappropriationofapartnership.

Recordingofallocationsanddistributionsofprofit.

4.2.3 Preparefinancialstatementsforpartnership.

Recordingchangesinpartnership.FinancialStatementsofaPartnership.

4.3 Accounting for Limited liability companies

4.3.1IdentifyspecificrequirementsinthepreparationandpresentationoffinancialstatementsofLimitedLiabilityCompanies.

SpecificprovisionsinthecompaniesActinpreparationofFinancialStatementsandotherregulatoryrequirementscomponentsandrationale.

4.3.2 IdentifyspecificaccountingissuesinLimitedLiabilityCompanies.

Issueofsharesanddebentures.Redemptionofsharesanddebentures.

4.3.3PreparefinancialstatementsofaLimitedLiabilityCompany.

FinancialstatementsofLimitedLiabilityCompanies.

4.4 Reporting by not for profit oriented entities

4.4.1DescribereasonsforpreparingFinancialStatementsbyNot-For-Profitorganisations.

ReasonsforpreparingFinancialStatementsbyNot-For-Profitorganisations.

4.4.2PreparerelevantFinancialStatements.

Income&ExpenditureAccount.StatementofFinancialPosition.


E. Financial statements analysis : 10% Knowledge Component Learning Outcomes Specific Knowledge5.1 Analysis of

financial information

5.1.1Identifyreasonsforanalysingfinancialperformance.

Thepurposesofanalysingfinancialstatementsandotherfinancialinformation.

5.1.2Identifytoolsofanalysingfinancialperformance.

TrendAnalysis,HorizontalAnalysis,AccountingRatios,CommonSizedStatements.

5.1.3Calculaterelevantaccountingratios. Profitabilityratios,Liquidityratios,Solvencyratios,EfficiencyRatios,Investor’sratios.

F. Financial reporting standards : 20%Knowledge Component Learning Outcomes Specific Knowledge6.1 Basic

understanding of Accounting Standards

6.1.1Identifythepurposeofaccountingstandards.

LKAS1-Presentationoffinancialstatements.

6.1.2Definethetermsintheprescribedaccountingstandards.

LKAS2-Inventories.

6.1.3Explaintheaccountingtreatmentsgiveninthestandards.

LKAS7-StatementofCashflow.

6.1.4Listthedisclosurerequirementsoftheaccountingstandards.

LKAS8-Accountingpolicies,changesinaccountingestimatesanderrors.LKAS10-Eventsafterthereportingperiod.LKAS12-Incometax.LKAS16-Property,plantandequipment.SLFRS16-Leases.SLFRS15-RevenuefromContractswithCustomers.LKAS19-Employeebenefits.LKAS37-provisions,Contingentliabilityandcontingentassets.


Detailed Curriculum

Pillar : Performance Measurement and RiskCourse Unit : Business Mathematics and StatisticsMain Curriculum Areas Weightage Notional hours

A. Applicationsofbasicmathematicsforbusiness 5% 13

B. Timevalueofmoney 15% 37

C. Equationsandalgebra 10% 25

D. Pre-calculusandcalculusinbusinessapplications 20% 50

E. Principlesofstatistics 15% 37

F. Probabilityandnormaldistribution 15% 38

G. Solutionsforbusinessproblemsandstatisticsfordecisionsmaking

20% 50

Total 100% 250


A. Applications of Basic Mathematics for Business : 5%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Dealing with

application of percentages for business

1.1.1Calculatemark-upsandmarginsofproductsorservices.

Numberoperationsinbusinessapplications.

1.1.2 Calculateamountsinrupeevaluesforagivenmarkup/marginpercentagesinscenarios(includingVAT,incometaxanddiscounts).

Numberoperationsinbusinessapplications.

1.1.3Calculatevariationsunderaddition,subtraction,multiplicationanddivision.

Impactandvariationsofnumbersrelatedtobusinessoperations.

1.1.4Calculatetheimpactonprofitwhenprice,quantity,variablecostperunitandfixedcostschangebasedongivenscenarios.

B. Time value of money : 15%

Knowledge Component Learning Outcomes Specific Knowledge

2.1 Compounding and Discounting

2.1.1 Definetimevalueofmoney. Understandtheconceptoftimevalueofmoney.

2.1.2 Explaindeterminantsoftimevalueofmoney.

Determinetimevalueofmoney.

2.1.3 Discussthedifferencebetweensimpleinterestrateandcompoundinterestrate.

Computationofsimpleinterestandcompoundinterest.

2.1.4 Calculatesimpleinterestandcompoundinterestonagiveninvestment.

Computationofsimpleinterestandcompoundinterest.

2.1.5 Calculateeffectiveinterestrate,theyieldamountwhentherateofinterestchangeswithtime,regularinvestmentinterest.

ComputationofEffectiveRateofInterest(ERI).

2.1.6 CalculateFuturevalueandPresentvalueofasinglecashflow.

ComputationofFVandPVofcashflows.

2.1.7 Calculatetheterminalvalueofinvestmentplans.

Investmentplans.

2.1.8 Calculatethesizeofinvestmentneededtohaveaplannedendvalueofinvestment.

Investmentplans.

2.1.9 Assessthepreferenceofpresentconsumption&futureconsumptioninrelationtotimevalueofmoney.

Consumptionpreferenceandtimevalueofmoney.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.2 Dealing with Annuities

and Perpetuities2.2.1 DefineAnnuitiesandPerpetuities. Annuityandperpetuity.2.2.2 CalculatethePresentValueand

Annuity.ComputationalskillsonAnnuity.

2.2.3 CalculatethePresentValueandperpetuity.

ComputationalskillsonPerpetuity.

2.2.4 CalculatepresentvalueofanordinaryannuityandannuitydueusingDCFtablesorformulas.

DiscountFactorandPVcalculationofannuities.

2.3 Loan Amortisation 2.3.1DefineLoanamortisation. Useofinterestratetorealbusinessapplicationonborrowing.

2.3.2 Preparealoanamortisationschedule. Preparationofloanscheduling.2.3.3 Discussthepatternsofhowthe

interestandcapitaloutstandingbehaveovertime.

Behaviorofinterestandcapitalovertime.

2.3.4 Definethetermsdownpayment,leaserental,ImplicitInterest(EffectiveInterestRate),leaseterm,Financecharge,Presentvalueofleaserentals.

Useofinterestrateapplicationtorealbusinessapplicationofborrowing.

2.3.5 CalculateleaserentalandFairvalueofalease.

Applicationofinterestratestoleasing.

C. Equations and Algebra : 10%Knowledge Component Learning Outcomes Specific Knowledge3.1 Equations 3.1.1 DescribepropertiesofaLinear

equation.Understandrelationsofvariablesthroughasimpleequation.

3.1.2 SolverealbusinessproblemsthroughLinearequationswithasinglevariable.

Useofnonevariableforproblemsolving.

3.1.3 SolverealbusinessproblemsbyusingSimultaneousequations (Maximumofthreevariables).

Problemsolving.

3.1.4 SolvebusinessrelatedproblemswithAlgebraicExpressions.

Dealingwithunknownvariablesandproblemsolvingthroughalgebraicequations.


D. Pre-Calculus and Calculus in Business Applications : 20%


4.1 Presentation and interpretation of information in Graphs

4.1.1 Demonstratelinearandquadraticfunctionsrelatedtorevenue,costsandprofitinthealgebraic,andgraphicalforms.

Expressionofdataofquadraticfunctions.

4.1.2 Identifytherevenuemaximum,costminimum,profitmaximumandbreak-evenpointsfromthegraph.

4.2 Derivatives of Business functions

4.2.1 Assessmaximumprofitorminimumcost.Demonstratetheuseofbyusingdifferentialcalculus(useprofitfunctionsorcostfunctionsunderdifferentconditions).

SolvingrealbusinessissuesthroughMaximisationandminimisationconcepts.

4.3 Inequalities 4.3.1 DefineandExplainInequalities. Relevanceanduseofinequalitiesongraphs.

4.3.2 IdentifyInequalitiesusingagraph. Problemsolvingthroughinequalities.

E. Principles of Statistics : 15%Knowledge Component Learning Outcomes Specific Knowledge5.1 Processing Descriptive

Statistics5.1.1 Definedescriptivestatistics. Dealingwithdescriptivedata.5.1.2 Plotfrequencydistributiondatain

barandlinegraphs.Presentationoffrequencydistribution.

5.1.3 Explaindatapresentedingraphsandtables.

Interpretationofdata.

5.1.4 Definemeasuresofcentraltendencyandtheirrelevanceinbusinessoperations(mode,median,andmean).

Centraltendencyofdata.

5.1.5 Calculatethemode,median,andmeanbasedonrealdatafrombusinessoperationsandeconomics.

Calculationofcentraltendencystatistics.

5.1.6 Discusscentraltendencymeasuresofrealdatafrombusinessoperationsandeconomics.

Dataanalysisfordecisionmaking.

5.2 Data Dispersion and Measurement

5.2.1 Definedispersion. Dispersionofdatafromcentralvalue.

5.2.2 Explainrange,standarddeviation,varianceandcoefficientofvariationasmeasuresofdispersion.

Differenttypesofdispersionmeasures.

5.2.3 Discusstheimpactofskewnessoncentraltendencyandsolutionstodealwithsuchsituations.

Skewnessofdatadistribution.


Detailed Curriculum


5.2.4 Explainmeasuresofvariability. Measuringvariabilityofdatadistribution.

5.2.5 Calculatetherange,standarddeviationandvariance.

Measuringvariabilityofdatadistribution.

5.2.6 Explaintherelationbetweenstandarddeviationandvariance.

Measuringvariabilityofdatadistribution.

F. Probability and Normal Distribution : 15%


6.1 Use of Probability 6.1.1 Defineprobability. Probability.6.1.2 Describethesamplespace. SignificanceofaSample.6.1.3 Discusstherelationbetween

samplesandthepopulation.Relationofsampleto

population.6.1.4 Calculatesimpleprobabilityofan

event.Probabilitycalculationbasedonasample.

6.1.5 Explainfeaturesofprobabilitydistributionandrandomvariables.

Probabilityandrandomvariables.

6.1.6 Explainlawsofprobability. Lawsofprobability.6.1.7 Calculateconditionalprobability. Conditionalprobability.6.1.8 Interprettheresultsofprobability

calculations.Conditionalprobability.

6.2 Application of Normal Distribution

6.2.1 Defineanormaldistributionofdata. Presentationofnormaldistributionwithhistograms.6.2.2 Explaindataofanormaldistribution

showninahistogramwithadensitycurve.

6.2.3 Explaindatapointsofanormaldistributioninrelationtostandarddeviation.

Normaldistributionandstandarddeviation.

6.2.4 Explainhowdataisdistributedwithinonetothreestandardsdeviationsfromthemeanvalue.

Normaldistributionandstandarddeviation.

6.2.5 Demonstratetheprocessofchangingdatainanormaldistributiontoastandardnormaldistribution.

Normaldistributionandstandardnormaldistribution.

6.3 Relevance of Central Limit

Theorem and Sampling Distribution

6.3.1 DefineCentralLimitTheorem. CentralLimittheorem.6.3.2 Calculateprobabilitiesofthesample.

meanswithCentralLimitTheorem.Probabilityandcentrallimittheorem.

6.3.3 Describethesamplingdistributionofastatistic.

Samplingdistributionofastatistic.


Knowledge Component Learning Outcomes Specific Knowledge6.3.4 CalculatestandardZ-Scoresfora

givensetofnormallydistributedsetofdatawherepopulationmean(μ),standarddeviation(σ),samplesize(n)andsamplemeanareknown.

ProbabilitycalculationwithstandardZScores.

6.3.5 CalculateprobabilitiesbyreferringtostandardZ-Scores.

ZScorewhenparametersareknown.

6.3.6 AssessspecifiedpercentagesofthenormaldistributionsbasedongivenZ-scoresandmeanvalue.

ProbabilityreferringtoproportionwithZscores.

G. Solutions for Business problems and Statistics for decisions making : 20%Knowledge Component Learning Outcomes Specific Knowledge7.1 Regression Analysis 7.1.1 Defineindependentvariablesand

dependentvariables.Relationbetweenindependentanddependentvariables.

7.1.2 Drawascatterplotdiagram. Datapresentationondiagrams.7.1.3 Drawastraightlinediagramby

usingindependentanddependentvariablesandexplaintheuseoflinearregression.

Datapresentationandinterpretationondiagrams.

7.1.4 Calculatetheslopeofthestraightlineandintercept.

GradientandInterceptofaline.

7.1.5 Calculatecorrelationcoefficientbetweentwovariables.

Correlationbetweentwovariables.

7.1.6 Explainwhycorrelationcoefficientliesbetween-1and1.


7.1.7 Explaintherelationshipbetweentheslopeoftheregressionlineandthecorrelationcoefficient.


7.1.8 Calculatethepredictedvalueofavariableybyusingleastsquaredmethodandvalueofx.

EstimationbasedonLSM.

7.1.9 Explainandinterpretregressionoutputvalues.

Interpretationofoutputdatafromregression.

7.1.10InterpretthemeaningofR2. Interpretationofoutputdatafromregression.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge7.3 Time Series

Forecasting7.3.1 DefineTimeseries. Knowingtrendsbasedontime

series.7.3.2 Describecomponentsoftimeseries. Knowingtrendsbasedontime

series.7.3.3 Explainhowtimeseriesdata

changeswithcrosssectionaldata.Useofdataintimeseries.

7.3.4 Calculatemovingaverageoftimeseries.

Calculationsofstatisticstounderstandthetrends.

7.3.5 Identifythetrendsoftimeseriesdata.

Calculationsofstatisticstounderstandthetrends.

7.3.6 Explainotherdifferentcomponentssuchasseasonal,cyclicalorirregular

(Nocalculationofseasonal,cyclicalandirregularvariations,onlyexplanationisexpected).

Differentpatternsoftrends.

7.3.7 Forecasttimeseriesdataoveragiventimehorizon.

Forecastingbasedontimeseriesdata.

7.3.8 Relateforecastingofvaluestoreallifebusinessscenarios.

Relateforecastingtherealbusinessapplications.


Pillar : Taxation and LawCourse Unit : Business Law Main Curriculum Areas Weightage Notional hours

A. IntroductiontothelawsandregulatoryframeworkofSriLanka 5% 13

B. Lawofcontracts 15% 37

C. Saleofgoods 15% 37

D. Negotiableinstruments 7% 13

E. Lawofagency 10% 25

F. Lawofpartnership 10% 25

G. Lawofinsurance,leasingandhire-purchaseandloans 7% 13

H. Labourlaw 5% 13

I. Offencesrelatedtothebusinessenvironmentandnewlaws 5% 12

J. Internationaltrade 5% 12

K. SecuritiesregimeinSriLanka 5% 12

L. Alternatedisputeresolution 5% 13

M.Antimoneylaundering 6% 25

Total 100 250


Detailed Curriculum

A. Introduction to the Laws and Regulatory Framework of Sri Lanka : 5%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Constitution and the

different branches of law.

1.1.1IdentifythemainbranchesoftheSriLankanLegalsystemandtheirroles.

MainbranchesoftheSriLankanLegalsystemandtheirroles.

1.2 Legal systems 1.2.1IdentifythekeylegalsystemsapplicableinSriLanka.

LegalsystemsapplicableinSriLanka.

1.3 Court system, powers, functions

1.3.1IdentifythecourtsinSriLankaandtheirfunctions.

CourtsinSriLankaandtheirfunctions.

1.4 Functions of Regulatory Institutions

1.4.1Explaintheregulatoryroleofeachoftheseinstitutions:

InstituteofCharteredAccountantsofSriLanka,SriLankaAccountingandAuditingStandardsMonitoringBoard,SecuritiesandExchangeCommission,ColomboStockExchange,BoardofInvestment,RegistrarofCompanies,Dept.ofCustoms,CentralBank(ExchangeControlaspect)andCreditInformationBureau(CRIB).

1.4.2 Identifythemainfunctionsofeachinstitutionstatedabove.

Regulatoryroleofeachoftheseinstitutions:InstituteofCharteredAccountantsofSriLanka,SriLankaAccountingandAuditingStandardsMonitoringBoard,SecuritiesandExchangeCommission,ColomboStockExchange,BoardofInvestment,RegistrarofCompanies,Dept.ofCustoms,CentralBank(ExchangeControlaspect)andCreditInformationBureau(CRIB).

B. Law of Contracts : 15%

Knowledge Component Learning Outcomes Specific Knowledge2.1 Main elements of a

contract2.1.1 Explaintherequisitesofavalid

contracti.e.offerandacceptance,intentiontocreatelegalrelations,consideration(includingtheconceptof“LaesioEnormis”),“capacityandform”.Definitionofcontract,agreement,offerandacceptance,capacitytocontract,formofcontracts,“realityofconsent”.

Requisitesofavalidcontracti.e.offerandacceptance,intentiontocreatelegalrelations,consideration(includingtheconceptof“LaesioEnormis”),“capacityandform”.Definitionofcontract,agreement,offerandacceptance,capacitytocontract,formofcontracts,“realityofconsent”.

2.2 Terms of contracts 2.2.1 Explainwhatismeantbythetermsofcontract(conditions,warranties,exemptionclauses)andtheeffectofexemptionclausesandtheUnfairContractTermsActNo.26of1997.

Meaningoftermsofcontract(conditions,warranties,exemptionclauses)andtheeffectofexemptionclausesandtheUnfairContractTermsActNo.26of1997.

2.2.2 Explainmistakes,misrepresentationandundueinfluence&theirconsequences.

Mistakes,misrepresentationandundueinfluence&theirconsequences.

2.3 Legality of Objects 2.3.1 Explaintheeffectofillegalityanditsconsequences.

Effectofillegalityanditsconsequences.


Knowledge Component Learning Outcomes Specific Knowledge2.4 Termination of

contracts2.4.1 Explainthemannerinwhicha

contractcouldbedischargedbyperformance,agreement,frustrationandbreach(includinganticipatorybreach).

Mannerinwhichacontractcouldbedischargedbyperformance,agreement,frustrationandbreach(includinganticipatorybreach).

2.5 Remedies for breach of contract

2.5.1 ExplaintheCommonLawandEquitableremediesforbreachofcontract.

CommonLawandEquitableremediesforbreachofcontract.

2.5.2 Explaintheprincipleofunjustenrichment.

Principleofunjustenrichment.

2.6 Other concepts of contract law

2.6.1 Identifytheperiodsofprescriptionfordifferenttypesofcontracts.

Periodsofprescriptionfordifferenttypesofcontracts.

2.6.2 Explaintheprincipleofprivityofcontract.

Principleofprivityofcontract.

C. Sale of Goods : 15%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Form and subject

matter of the sale of goods contract

3.1.1.Explainacontractofsaleofgoodsandacontractofworkandmaterials,andtheclassificationofgoodsinasaleofgoodscontract.

Differencebetweenacontractofsaleofgoodsandacontractofworkandmaterials,andtheclassificationofgoods.

3.2 Conditions and warranties

3.2.1 Explainimpliedconditionsandwarrantieswhichareapplicableinacontractofsaleofgoods.

Impliedconditionsandwarrantieswhichareapplicableinacontractofsaleofgoods.

3.3 Transfer of the property between seller and buyer

3.3.1 Explainthetimeatwhichthereisapassingofriskandatransferoftitleingoods(withreferencetospecificgoods,unascertainedgoods,reservationoftitle,installmentdeliveries,salesbyauction,salebyanon-owner).

Passingofriskandatransferoftitle(specificgoods,unascertainedgoods,reservationoftitle,installmentdeliveries,salesbyauction,salebyanon-owner).

3.4 Remedies available to buyer and seller

3.4.1 Explaintheremedieswhichareavailabletoabuyerandseller,includingrightsofan“unpaidseller”.

Remedieswhichareavailabletoabuyerandseller,includingrightsofan“unpaidseller”.

D. Negotiable Instruments : 7%

Knowledge Component Learning Outcomes Specific Knowledge4.1 Cheques, bills

of exchange and promissory notes

4.1.1Defineandexplaincheques,billsofexchangeandpromissorynotes.

Definitionsofcheques,billsofexchangeandpromissorynotes.

4.1.2Explainthefunctionsofcheques,billsofexchangeandpromissorynotes,fromabusinesscontext.

Functionsofcheques,billsofexchangeandpromissorynotes,fromabusinesscontext.

4.2 Legal principles and commercial significance of cheques

4.2.1Explain,inrespectofthefollowing,theprinciplesapplicableforchequesandtheircommercialsignificance(endorsements,crossings,dishonouringandbanker’sliability).

Principlesapplicableforchequesandtheircommercialsignificance(endorsements,crossings,dishonouringandbanker’sliability).


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge4.3 Holder in due course

and presentment4.3.1Defineandexplainthecommercial

significanceof“holderinduecourse”and“presentment”inrelationtoabillofexchange,andaholder’sright.

Commercialsignificanceof“holderinduecourse”and“presentment”inrelationtoabillofexchange,andaholder’sright.

E. Law of Agency : 10%

Knowledge Component Learning Outcomes Specific Knowledge5.1 Creation of agency,

different types of agents

5.1.1ExplainthecircumstancesunderwhicharelationshipofPrincipal-Agentwouldberecognisedbymutualagreement,byratification,bynecessityandbyestoppels.

RelationshipofPrincipal-Agentwouldberecognisedbymutualagreement,byratification,bynecessityandbyestoppels.

5.1.2 Statethedifferenttypesofagents. Differenttypesofagents.5.2 Authority 5.2.1 Explainthecircumstancesunder

whichanagentmayacquireauthority(includingexpressauthorityandimpliedauthorityandostensibleauthority).

Agentmayacquireauthority(includingexpressauthorityandimpliedauthorityandostensibleauthority).

5.3 Rights and duties between Principal and Agent

5.3.1 Statethedutiesofanagenttowardstheprincipal.

Dutiesofagenttowardstheprincipal.

5.3.2 Statethedutiesoftheprincipaltowardsanagent.

Dutiesoftheprincipaltowardsagent.

5.4 Termination of Agency 5.4.1 StatethecircumstancesunderwhichacontractofAgencymaybeterminatedbytheactofpartiesandbyoperationoflaw.

ContractofAgencymaybeterminatedbytheactofpartiesandbyoperationoflaw.

5.5 Liabilities of agent 5.5.1 Statetheliabilityofagentsforactsdonewhilstactingforanamed,unnamedandundisclosedprincipal.

Liabilityofagentsforactsdonewhilstactingforanamed,unnamedandundisclosedprincipal.

5.6 Liability of State 5.6.1 Explaintheliabilityofthestateforactsdonebyitsagents.

Liabilityofthestateforactsdonebyitsagents.

F. Law of Partnership : 10%

Knowledge Component Learning Outcomes Specific Knowledge6.1 Creation of Partnership 6.1.1 Statethegeneralcharacteristicsofa

partnership.Generalcharacteristicsofapartner.

6.1.2 Statetherequirementstoformavalidpartnership.

Requirementstoformavalidpartnership.

6.1.3 Explaintheformalitiescontainedinthepreventionoffraudsordinancewithregardtothecreationofapartnershipandregistrationrequirements.

Formalitiescontainedinthepreventionoffraudsordinancewithregardtothecreationofapartnershipandregistrationrequirements.


Knowledge Component Learning Outcomes Specific Knowledge6.2 Relations of Partners

and change of partners6.2.1 Statetherelationshipbetween

partners.Relationshipbetweenpartners.

6.2.2 Statetherelationshipbetweenpartnersandthirdparties.

Relationshipbetweenpartnersandthirdparties.

6.2.3 Explaintheprovisionsrelatingtothechangeofpartners.

Changeofpartners.

6.2.4 Explainthedelictualliabilityofpartners.

Delictualliabilityofpartners.

6.3 Dissolution of Partnership

6.3.1 Explainthemannerinwhichapartnershipcouldbedissolved.

Dissolutionofapartnership.

G. Law of Insurance, Leasing and Hire-Purchase and Loans : 7%Knowledge Component Learning Outcomes Specific Knowledge7.1 Life, Fire and Accident

and burglary Insurance, Marine Insurance

7.1.1 Explainthedifferencebetweenacontractofinsurance,contractofassuranceandawageringcontract.

Differencebetweenacontractofinsurance,contractofassuranceandawageringcontract.

7.1.2 Explaintheprinciplesregardingtheformationofacontractofinsurance.

Principlesregardingtheformationofacontractofinsurance.

7.1.3 Explaintheapplicableprinciplesinacontractofinsurancerelatingtouberrimae fidei,insurableinterestandindemnity(includingtotalandpartialinsurance).

Principlesinacontractofinsurancerelatingtouberrimae fidei,insurableinterestandindemnity(includingtotalandpartialinsurance).

7.2 Hire-Purchase 7.2.1 Explainconceptsofhire-purchase. Conceptsofhire-purchase.7.2.2 Listobligationsofthehirerand

owner.Obligationsofthehirerandowner.

7.3 Leasing 7.3.1 Explaintheconceptofleasing.(agreementpart).

Conceptofleasing.(agreementpart)

7.3.2 Listobligationsofthelesseeandlessor.

Obligationsofthelesseeandlessor

7.3.3Explainundisturbedpossession,supply,delivery,non-delivery,acceptanceandreturnofequipment.

Undisturbedpossession,supply,delivery,non-delivery,acceptanceandreturnofequipment.

7.3.4 Explainthedefaultbylesseeandremediesavailableforlessor.

Defaultbylesseeandremediesavailableforlessor

7.3.5 Explaintherecoveryofpossession. Recoveryofpossession.7.4 Loans 7.4.1 Explainmortgages,guarantorsand

collaterals.Mortgages,guarantorsandcollaterals.

7.4.2 Explainthecommonlawprivilegesapplicabletoaguarantor.

Commonlawprivilegesapplicabletoaguarantor

7.4.3 Explainex-parteexecutionbyfinancialinstitutions.

Ex-parteexecutionbyfinancialinstitutions.


Detailed Curriculum

H. Labour Law : 5%

Knowledge Component Learning Outcomes Specific Knowledge8.1 Employees Provident

Fund Act (No. 15 of 1958) (EPF), Employees’ Trust Fund Act (No. 46 of 1980) (ETF), Private Provident Funds (PPF)

8.1.1 StatewhoshouldcontributetoEPFandETF,alongwithrelevantexemptions.

WhoshouldcontributetoEPFandETF,alongwithrelevantexemptions.

8.1.2 IdentifythemaindifferencesbetweenEPFandaPPF.

DifferencesbetweenEPFandaPPF.

8.1.3 Listinstancesinwhichanemployeecanwithdrawhis/hercontributionstoEPF&ETF.

Instancesinwhichanemployeecanwithdrawhis/hercontributionstoEPF&ETF.

8.1.4 Explainthedifferencebetweenanemployeeandanindependentserviceprovider.

Differencebetweenanemployeeandanindependentserviceprovider

8.2 Payment of Gratuity Act (No. 12 of 1983)

8.2.1 Explaintheentitlementofgratuity. Entitlementofgratuity.

8.3 Shop & Office Employees Act (Special Provisions) Act (No. 19 of 1954)

8.3.1 StatetheemployeescoveredundertheShop&OfficeEmployeesAct.

EmployeescoveredundertheShop&OfficeEmployeesAct.

8.3.2 Statehoursofemployment,weekly,annualholidaysandleave.

Hoursofemployment,weekly,annualholidaysandleave.

8.3.3 StatethefacilitiestobeprovidedbyemployersundertheShop&OfficeEmployeesAct.

FacilitiestobeprovidedbyemployersundertheShop&OfficeEmployeesAct.

8.3.4 Statethematernity&paternitybenefitsavailabletoemployees.

Maternity&paternitybenefitsavailabletoemployees.

8.3.5 Statetheauthoriseddeductionsfromremuneration.

Authoriseddeductionsfromremuneration.

8.4 Termination of Employment

8.4.1ExplaintheprocedureforterminationofemployeesundertheTerminationofEmploymentWorkmen(SpecialProvisions)Act(No.45of1971).

ProcedureforterminationofemployeesundertheTerminationofEmploymentWorkmen(SpecialProvisions)Act.

8.4.2Define“scheduledemployment”. “Scheduledemployment”.8.4.3 Explainthecomputationof

compensationpayable.Computationofcompensationpayable.

8.5 Fundamental Rights relevant to employment

8.5.1Statefundamentalrightsrelevanttoemployment.

Fundamentalrightsrelevanttoemployment.

8.5.2ExplainthestepsavailablefortheviolationoffundamentalrightsincludingtheroleoftheHumanRightsCommission.

StepsavailableforviolationoffundamentalrightsincludingtheroleofHumanRightsCommission.

I. Offenses Related to the Business Environment and New Laws : 5%

Knowledge Component Learning Outcomes Specific Knowledge9.1 Main offences in

business environment and defences

9.1.1 Definefraud,theft,bribery,negligenceandexplainthemaindefences.

Fraud,theft,bribery,negligenceandexplainthemaindefences.


Knowledge Component Learning Outcomes Specific Knowledge9.2 New laws in business

environment9.2.1 StatebrieflyoneachoftheseActs:,

(areasapplicableforcurriculum) ElectronicTransactionsActNo.19of

2006, ComputerCrimesActNo.24of

2007, ConsumerAffairsAuthorityActNo.9

of2003, IntellectualPropertyActNo.36of

2003, RighttoInformationActNo.12of

2016.

ElectronicTransactionsActNo.19of2006ComputerCrimesActNo.24of2007,ConsumerAffairsAuthorityActNo.9of2003IntellectualPropertyActNo.36of2003,RighttoInformationActNo.12of2016

J. International Trade : 5%Knowledge Component Learning Outcomes Specific Knowledge10.1 International sale of

goods10.1.1Explaintheprocessofinternational

saleofgoods,withreferencetofinanceandlettersofcredit,transportationandbilloflading.

Processofinternationalsaleofgoods,withreferencetofinanceandlettersofcredit,transportationandbilloflading.

10.1.2ExplainaCIFcontractandaFOBcontract.

CIFcontractandaFOBcontract.

10.1.3DescribetheapplicationofUniformCustomsandPractice600(UCP600)toLettersofCredit.

ApplicationofUniformCustomsandPractice600(UCP600)toLettersofCredit.

K. Securities Regime in Sri Lanka : 5%


11.1 Security trading process, regulation and insider dealing

11.1.1ExplaintheroleoftheSecurities&ExchangeCommission(SEC).

RolesoftheSecuritiesandExchangeCommission,TheColomboStockExchange&theCentralDepositorySystem.

11.1.2ExplaintheroleoftheColomboStockExchange(CSE),includingoffthefloortransactions.

TransferoflistedsecuritiesviaCSE.

11.1.3ExplaintheroleoftheCentralDepositorySystem(CDS)includingthetransferoflistedsecuritiesviaCSE.

Offthefloortransactions.

11.1.4Explaininsiderdealingandrelevantinformation.

Insidertradingandrelevantinformation.


Detailed Curriculum

L. Alternate Dispute Resolution : 5%

Knowledge Component Learning Outcomes Specific Knowledge12.1 Mediation 12.1.1Explainthegeneralprocessof

mediation.Generalprocessofmediation.

12.1.2ExplaintheroleofMediationBoard. RoleofMediationBoard.12.1.3ExplaintheroleoftheCommercial

MediationCentreofSriLanka.RoleofCommercialMediationCentreofSriLanka.

12.2 Arbitration 12.2.1IdentifyArbitrabilityofdisputes,includingtheArbitrationClause.

Arbitrabilityofdisputes.

12.2.2ExplaintheprocessofArbitration. ProcessofArbitration.12.2.3ExplaintheroleoftheArbitral

Tribunal.RoleoftheArbitralTribunal.

12.2.4ExplainenforcementofArbitralAward.

EnforcementofArbitralAward.

12.2.5ExplainsettingasideoftheArbitralAward.

SettingasideoftheArbitralAward.

M. Anti-Money Laundering : 6%

Knowledge Component Learning Outcomes Specific Knowledge13.1 Regulatory

Environment13.1.1PreventionofMoney-Laundering

ActNo.5of2006.PreventionofMoney-LaunderingActNo.5of2006.

13.1.2FinancialTransactionsReportingAct,No.6of2006.

FinancialTransactionsReportingAct,No.6of2006.

13.1.3FinancialIntelligenceUnit(FIU)ofSriLanka.

FinancialIntelligenceUnit(FIU).

13.1.4CommissiontoInvestigateAllegationsofBriberyorCorruption(CIABOC).

CommissiontoInvestigateAllegationsofBriberyorCorruption(CIABOC).

13.2 Anti-Money Laundering

13.2.1Identifytheoffenceofmoneylaundering.

Offenceofmoneylaundering.

13.2.2PresumptionofLaunderedMoney. PresumptionofLaunderedMoney.

13.2.3Punishmentformoneylaundering. Punishmentformoneylaundering.

13.3 Reporting requirements

13.3.1ReportingrequirementstoFIU. ReportingrequirementstoFIU13.3.2KnowYourCustomerRules(KYC). KnowYourCustomerRules

(KYC).13.3.3MemorandumsofUnderstatingwith

otherCountries.MemorandumsofUnderstandingswithotherCountries


Pillar : Business Management & Strategy Course Unit : Business Environment and EconomicsMain Curriculum Areas Weightage Notional hours

A. Businessandorganisationalenvironment 5% 13

B. Natureandscopeofbusinessmanagement 5% 13

C. Functionsofmanagement 20% 50

D. Functionalareasofbusinesses 30% 75

E. Roleofeconomicsinbusinesses 5% 12

F. Pricemechanismandcompetitivemarkets 10% 25

G. Production,cost,priceandoutputdecisions 10% 25

H.MacroeconomicenvironmentandBusiness 15% 37

Total 100% 250


Detailed Curriculum

A. Business and organisational environment : 5%


1.1 Introduction to organisational environment

1.1.1 Definetheconceptoforganisationandidentifythetypesofbusinessorganisations.

Basicdefinitionsoftheorganisationandtypesofbusinessorganisations.

1.1.2 Identifytheorganisationalandbusinessenvironmentanddescribethenatureandtypesoforganisationalenvironment.

Natureandscopeoforganisationalandbusinessenvironment.

1.1.3 Recognisethecomponentsofinternalenvironmentsandidentifytheimportanceofeachcomponentinmanagementprocess.

Internalenvironmentoforganisations.

1.1.4 Explainthedimensionsoftaskenvironmentandidentifyhowthosecomponentsareinfluencedonthebusinesses.

Taskenvironment.

1.1.5 Explainthedimensionsofgeneralenvironmentandidentifyhowthosecomponentsareinfluencedonthebusinesses.

Generalenvironment.

1.1.6 Explaintheethicsandsocialresponsibilityoforganisations.

Ethicsandsocialresponsibility.

1.1.7 Discussthenewdynamicsoforganisationalandbusinessenvironment.

Newdynamicsoforganisationalandbusinessenvironment.

1.1.8 Reviewpossibleactionsoforganisationstobeadoptedtothedynamicenvironment.

Adoptingtochangingenvironment.

1.2 Role of Stakeholders in organisation

1.2.1 Identifythekeystakeholdersinorganisations.

Typesandnatureofstakeholders.

1.2.2 Discusstheimpactofdifferentstakeholderstotheorganisations.

Stakeholdermapping(Mendelowmatrix).

1.3 Industry analysis 1.3.1 Recognisethecompetitivenessoftheindustries.

Fiveforcesmodelforanalysisofindustrycompetitiveness.

B. Nature and scope of business management : 5%


2.1 Introduction to Management

2.1.1 Definemanagementandidentifythescopeofmanagement.

DefinitionsandscopeofManagement.

2.1.2 Recogniseartsandscienceofthemanagement.

Thescienceandartofthemanagement.

2.1.3 Definetheefficiencyandeffectivenessandrelatethoseconceptwithproductivityoforganisation.

Efficiency,effectiveness,andproductivity.



2.1.4 Explainthemanagementprocessandinterprettheinterrelationshipamongmainfunctionsofmanagement.

Managementprocess.

2.2 Roles and Skills of Managers

2.2.1 Identifywhoaremanagersinorganisationandmanagerialroleofanaccountant.

Definingwhoismanagerandmanagerialroleofanaccountant.

2.2.2 Discussthetypesofmanagersintheorganisationsunderdifferentbases(horizontalandverticaldifferences)anddiscussthescopeoftheirresponsibilities.

Typesofmanagersandthescopeoftheirresponsibilities.

2.2.3 Explainthemainrolesplayedbythemanagersintheorganisations.

Managerialroles.

2.2.4 Identifyskillsneededtomanagersforperformingmanagerialrolessuccessfullyanddiscusstheimportanceofmanagerialskillsfordifferentmanagersinorganisationalhierarchy.

Typesandsourcesofmanagerialskills.

2.2.5 Recognisetheskillsneededformanagingcrisisandunexpectedevents.

Skillsformanagingcrisisandunexpectedevents.

2.3 Challenges for Managers

2.3.1 Explainwhatfuturechallengeslieaheadforthemanagersinthisturbulentenvironment.

Challengesformanagersin21st century.

2.3.2 Discusstheapplicationofinnovativetechnologyintheworkplaceforimprovingproductivity.

Theapplicationofinnovativetechnologyintheworkplace.

2.3.3 Discusshowtomanageemployeeswhoarerepresentingdifferentgenerations.

Managingemployeesofdifferentgenerations(E.g.GenerationYandZ).

2.3.4 Identifybehavioralcharacteristicsofcross-culturalworkteamsandrecogniseeffectivemanagementtechniquestoeffectivelymanagethem.

Managingcross-culturalworkteams.

2.3.5 Identifybehavioralcharacteristicsofmulti-national/culturalemployeesandrecognisenewmanagementtechniquestoeffectivelymanagethem.

Managingmulti-national/culturalemployees.


Detailed Curriculum

C. Functions of Management : 20%


3.1 Planning and decision making

3.1.1 Defineplanninganddiscussthescopeofplanninginorganisations.

Natureandscopeofplanning.

3.1.2 Recognisetypesoffuturedirectionsoftheorganisations.

Planningandgoalsetting.

3.1.3 Identifytypesofplanningunderdifferentperspectives.

Typesofplanning.

3.1.4 Discusstheadvantagesofplanningandimportanceofplanningforachievingorganisationaleffectiveness.

AdvantagesofPlanning.

3.1.5 Discussthebarriersofplanningandwaysofovercomingthosebarriersinimplementingorganisationalplans.

Barrierstoplanningandhowtoovercomethebarriersoftheplanning.

3.1.6 Discussstepsinvolvedintheplanningprocess(withspecialreferencetostrategicalternatives).

Planningprocess.

3.1.7 Identifytheprinciplesofplanningandwaysofapplyingthoseprinciplesintheplanningprocess.

Principlesofplanning.

3.1.8 Recognisethechallengesposedtoplanninginadynamicenvironment.

Challengesinplanninginadynamicenvironment.

3.1.9 Explaintheprocessofmanagementbyobjectives.

Managementbyobjectives.

3.1.10Identifythescopeofdecisionmakingandimportanceofdecisionmakingandproblemsolvingfortheorganisation.

Natureofdecisionmakingandproblemsolving.

3.1.11Identifymaindecisionmakingapproachofmanagersandexecutives.

Decisionmakingapproaches.

3.1.12Identifytheconditionsofdecisionmakingfacedbymanagersinthedifferentorganisationalsettings.

Conditionsofdecisionmaking.

3.1.13Explaindifferentdecisionmakingmodelsandapproachesanddiscussthebarriersforrationaldecisionmakingprocess.

Decisionmakingmodelsandapproaches(Withspecialreferencetorationaldecisionmakingprocess).

3.1.14Recognisethenewdecisionmakingapproachesinturbulentenvironment.

Newdecisionmakingapproachesinturbulentenvironment.



3.2 Organising 3.2.1 Identifythenatureandscopeoftheorganisingfunctioninthemanagementprocess.

Natureandscopeoftheorganising.

3.2.2 Identifytypesoforganisationalstructureanddiscussthepositiveandnegativeaspectsofthem.

Typeoforganisationalstructures.

3.2.3 Explainkeyaspectsoforganisationalstructuresconnectingtotheprinciplesofmanagement.

Keyaspectsoforganisationalstructure(e.g.Spanofcontrol,centralisationVs.decentralisation,unityofcommandetc.).

3.2.4Discussthedynamicsoforganisationalstructurewithregardstothenatureofenvironment(E.g.Tallorganisationvs.Flatorganisation,OrganicorganisationVs.Mechanisticorganisationetc.).

Dynamicsoforganisationalstructure.

3.2.5Definetheconceptsofresponsibility,accountability,authorityanddiscusstheinterrationshipamongthoseconcepts.

Managerialresponsibility,accountabilityandauthority.

3.2.6 Explaintheprocess,bestpracticesandbarriersfordelegationofauthority.

Delegationofauthority.

3.2.7 Discusstherelationshipbetweenstrategyandorganisationalstructure.

Strategyandstructure.

3.3 Leading 3.3.1 Define"leading"asakeyfunctionofmanagementprocessandidentifymainareasofleading.

Natureandscopeof"leading"asamanagementfunction.

3.3.2 Defineorganisationalleadershipandidentifythecharacteristicsandfunctionsofeffectiveleader.

Theorganisationalleadershipandmajorfunctionsofaneffectiveleader.

3.3.3 Differentiatetheroleofmanagerfromtheroleofleadersandidentifythepowersourcesofleaders.

ManagersVs.Leadersandpowersourcesofleaders.

3.3.4 Discussdifferentleadershipapproachesandtheoriesinordertoidentifybestleadershipstyleforeffectivemanagers.

Leadershipapproachesandtheories(IncludingTraitsapproach,Behavioralapproach&Situationalapproach).

3.3.5 Definemotivationasakeyfunctionofmanagementprocess.

Definitionsandscopeofmotivation.


Detailed Curriculum


3.3.6 Identifytherelationshipbetweenmotivationandorganisationalperformancesanddiscussfactorsinfluencingorganisationalperformanceotherthanmotivation.

Motivationandorganisationalperformance.

3.3.7 Identifycontentandprocesstheoriesofmotivationanddiscusstheapplicationofeachmotivationtheorytounderstandmotivationalstrategiesoforganisationandselfresponsibilityfortheimplementationofmotivationalstrategieswithintheorganisation.

Theoriesofmotivation(includingcontenttheories-AbramMaslow-hierarchyofneedstheory,Herzberg’stwofactortheoryandERGtheory/Processtheories-Victorvroom’sExpectancytheoryandAdam’sEquitytheoryetc.).

3.3.8 Explainsignsofmotivationandsignsofdemotivationwiththepurposeofunderstandingmotivationlevelofemployees.

Understandingmotivationofemployees.

3.3.9 Definetheconceptofcommunicationandidentifytheroleofcommunicationwithinorganisations.

Natureandscopeofcommunicationwithinorganisations.

3.3.10Identifythedifferencebetweeneffectiveandefficientcommunicationanddiscusstheconditionsrequiredforeffectivecommunication.

Effectiveandefficientcommunication.

3.3.11Discusshowcommunicationistakenplaceinorganisationsingeneralwaybyusingabasiccommunicationmodel.

Basiccommunicationmodel.

3.3.12Explainformalcommunicationchannelsoforganisationanddiscusswaysofusinginformalcommunicationinmanagementpractices.

Communicationinorganisations.

3.3.13Identifybarriersofcommunicationanddiscusswaysofbreakingthecommunicationbarriers.

Barrierstocommunicationandwaysofovercomingcommunicationbarriers.

3.3.14Explainthecommunicationskillstobedevelopedbytheexecutivelevelemployeesintheorganisations.

Communicationskills(e.g.Listening,presentation,writtencommunication,ITapplicationincommunicationetc.).



3.4 Controlling 3.4.1Define‘controlling’asafunctionofmanagementanddiscusstheimportanceofcontrollingforthesuccessofanorganisation.

Definitionandimportanceof‘controlling’.

3.4.2Discussthemainstepsassociatedwithcontrollingprocessofanorganisation.

Typesofcontrolling(e.g.Feedback,FeedforwardandProcessetc.)andstepsofthecontrollingprocess.

3.4.3Recognisetheroleofanaccountantinthecontrollingprocessofanorganisation.

Roleofaccountantsinorganisationalcontrolling.

3.4.4Discusstheapplicationofnewtechnologyfororganisationalcontrolling.

Applicationofnewtechnologyfororganisationalcontrolling.

D. Functional areas of Businesses : 30%


4.1 Operation Management

4.1.1 DefineoperationalmanagementanddiscusstheroleoftheOMinanorganisation.

Definitionsandscopeofoperationmanagement.

4.1.2 Explainwaysofplanningofproductioncapacityinfinancialperspective.

Planningproductioncapacity.

4.1.3 Definemainproductionmethods(Jobproduction,BatchProduction,FlowProduction)andleanmanufacturingwithspecialreferencetotheroleofaccountantsintheleanmanufacturing.

Productionmethodsandleanmanufacturing.

4.1.4 Identifythekeyconceptsofsupplychainmanagementappliedintheorganisations.

Keyconceptsofsupplychainmanagement.

4.1.5 IdentifythekeyconceptsoftotalqualitymanagementanddiscusstheimportanceofTQMforimprovingproductivityoftheorganisations.

TotalQualityManagement.

4.1.6 Recognisetheapplicationofnewtechnologyformanagingoperationsintheorganisations.

Applicationofnewtechnologyformanagingoperationsintheorganisations.

4.2 Marketing Management

4.2.1 Definemarketingmanagementandscopeofmarketingfunctionintheorganisations.

Definitionsandscopeofmarketingmanagement.

4.2.2 Discusstheroleofmarketinginorganisation(marketingasaphilosophy/marketingasabusinessfunction).

Roleofmarketinginorganisation.


Detailed Curriculum


4.2.3 Discussthedifferentmarketingphilosophiesandexplaintheimportanceofadoptingtomarketorientation.

Marketingphilosophiesandmarketorientation.

4.2.4 Identifytheconceptsofsegmentation,targetingandpositioning/marketingmixfordevelopingmarketingstrategiesoftheorganisations.

Elementofmarketingstrategies(Segmentation,targetingandpositioning/Marketingmix).

4.2.5 Recognisetheapplicationofnewtechnologyforimprovingtheproductivityofmarketingmanagement.

Applicationofnewtechnologyformarketingmanagement.

4.3 Human Resource Management

4.3.1DefineHRMandidentifyimportanceofHRMinthebusinessprocess.

DefinitionsandroleofHRMfunctionintheorganisations.

4.3.2IdentifymajorconceptsassociatedwithmainHRfunctionsoftheorganisations.

FunctionsofHRM.

4.3.3RecognisetheapplicationofnewtechnologyforimprovingproductivityofHRM.

ApplicationofnewtechnologyforHRM.

4.4 Information Management Systems and Project Management

4.4.1Recognisethenatureandthepurposeofinformationsystemsadoptedbytheorganisations.

Natureandthepurposeofinformationsystems.

4.4.2Identifythedifferenttypesofinformationsystemsadoptedbyorganisations.

Typesofinformationsystems(e.g.TransactionsProcessingsystems-TPS,ManagementInformationsystem-MISandExecutiveInformationSystem-EIS).

4.4.3DiscusstheroleandimportanceofEnterpriseResourcePlanning(ERP)forthemanagementpracticesoftheorganisations.

EnterpriseResourcePlanning(ERP).

4.4.4Identifythenatureandthescopeofprojectmanagement.

Natureandthescopeofprojectmanagement.

4.4.5Discussmodelsandapproachesadoptedinprojectmanagement.

Modelsandapproachestoprojectmanagement.


E. Role of Economics in Business : 5%

Knowledge Component Learning Outcomes Specific Knowledge5.1 Introduction to

economics 5.1.1Defineeconomicsanddiscussthe

roleofeconomicsinmanagingbusinesses.

Roleofeconomicsinbusinessmanagement.

5.1.2Discusstheconceptofopportunitycostandscarcityandtheirrelevancetoeconomicchoice.

Scarcity,choiceandopportunitycost.

5.1.3Identifythedifferencebetweenmicroeconomicsversusmacroeconomicsandnormativeversuspositiveeconomics.

KindsofEconomics.

5.1.4Identifyeconomicresourcesandtheirremuneration.

Economicresourcesandtypesofeconomicsgoods.

5.1.5Differentiatebetweeneconomicprofitsfromaccountingprofits.

EconomicVs.Accountingprofits.

5.2 Central problem of the economy

5.2.1Identifythecentralproblemsofaneconomy.

Centralproblemsofaneconomy.

5.2.2Discussthewayofsolvingcentralproblemsincommandeconomies,marketeconomiesandmixedeconomies.

Solvingcentralproblemsindifferenteconomies.

F. Price Mechanism and Competitive Markets : 10%

Knowledge Component Learning Outcomes Specific Knowledge6.1 Demand, supply and

market equilibrium in a competitive market

6.1.1Identifyhowthefreemarketoperatesandthemeritsanddemeritsoffreemarketoperation.

Freemarketoperation.

6.1.2Discusstheconceptofdemand,lawofdemand,estimatingdemandcurveinfreemarketanditsrelevanceforthebusinesses.

Conceptofdemandanddemandcurve.

6.1.3Discusstheconceptofsupply,lawofsupplyandestimatingsupplycurveinfreemarketanditsrelevanceforthebusinesses.

Conceptofsupplyandsupplycurve.

6.1.4Recognisetheconceptofmarketequilibrium/disequilibriuminthepricemechanismandanalysetheimpactofmarketequilibriumonbusinessdecisions.

MarketequilibriumandPricemechanism.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge6.2 Demand supply

analysis6.2.1Discussandcomputeprice

elasticitiesofdemandandsupply,incomeelasticity,crosspriceelasticityandadvertisingelasticityrelevanttothebusinessdecisions.

Theconceptofelasticities.

6.2.2Defineandcalculateconsumerandproducersurplusanditsimplicationforbusiness.

Consumerandproducersurplus.

6.2.3Demonstratetheimpactofgovernmentinterventiononcompetitivemarketsandbusinessactivities,throughceilingprice,floorprice,taxes,subsidies,andquotas.

Impactofgovernmentinterventiontofreemarket.

G. Production, Cost, Price and Output Decisions : 10%

Knowledge Component Learning Outcomes Specific Knowledge7.1 Production and cost

functions7.1.1 Identifythedifferencebetween

economiccostandfinancialcost.Economiccostandfinancialcost.

7.1.2Define,andmeasuretheshort-runTotalCost(TC),MarginalCost(MC),AverageVariableCost(AVC),AverageTotalCost(ATC),AverageFixedCost(AFC)basedonshort-runcostfunctionsanddiscusshowthosecostconceptsassociatedwithbusinessdecisions.

Short-runcostconceptsandfunctions.

7.1.3ExplaintheimportanceofLATC(planningcurve)forbusinessdecisionsinthelong-run.

Long-runcostfunction.

7.1.4Discusstheconceptsofeconomiesofscaleandeconomiesofscopeinthebusinessprocess.

Economiesofscaleandeconomiesofscope.

7.1.5DefineandcalculateTotalProduction(TP),MarginalProduction(MP),andAverageProduction(AP)intheshort-runbasedonshort-runproductionfunction.

Short-runproductionfunction.

7.1.6Identifythreestagesofproductionintheshort-runandunderstandtherationalstageintheshort-runbusinessprocess.

Stagesofproduction.

7.1.7Discussthevalidityoflawofdiminishingmarginalreturnsforbusinessdecisionsintheshort-run.

Thelawofdiminishingmarginalreturns.

7.1.8Discussthelong-runproductionfunctionanditsimplicationforbusinessdecisions.

Long-runproductionfunction.


Knowledge Component Learning Outcomes Specific Knowledge7.2 Profit Maximisation 7.2.1Explainthecharacteristicsof

perfectcompetition,monopolisticcompetition,monopoly,oligopolyandtheirimpactonbusinesses.

Theoreticaldimensionsofmarketstructures.

7.2.2Explainthetotalrevenue/totalcostapproachandmarginalrevenue/marginalcostapproachinprofitmaximisationbyusinggraphicalmeans.

Profitmaximisingconditionsincompetitivemarkets.

7.2.3Discusshowbusinessesdeterminetheoptimumoutput,priceandprofitintheshort-runandlong-runindifferentmarkets.

Optimaloutput,priceandprofitdecisionsincompetitivemarketstructures.

H. Macroeconomic environment and Business : 15% Knowledge Component Learning Outcomes Specific Knowledge

8.1 Macro -economic forces and business decisions

8.1.1 Identifythecriticalmacro-economicfactorsaffecttothebusinessperformancesofcompetitivemarkets.

Importanceofmacroeconomicforcesinthebusinesses.

8.1.2Discusstheconceptofnationalincomeoftheeconomyanditsimpactonbusinessdecisions.

Conceptofnationalincome.

8.1.3Discusshowtodetermineeconomicgrowthandeconomicdevelopmentinacountryandhowthoseconceptsinfluencebusinessdecisions.

Economicgrowthanddevelopment.

8.1.4 Identifythestagesofbusinesscycleofaneconomyanddiscussbusinessopportunitiesandthreatsofeachstageofthebusinesscycle.

Businesscycle.

8.1.5Discusswaysofdeterminingunemploymentandincomeinequalityandexplainhowthoseconceptsinfluencebusinessdecisions.

UnemploymentandIncomeinequality.

8.2 Inflation and its Impact on business

8.2.1IdentifythedeterminationofthepricelevelintheeconomybytheinteractionbetweenaggregatesupplyandaggregatedemandinasimpleAS-ADmodels.

DefinitionsandtypesofInflation.

8.2.2ExplaindemandpullandcostpushinflationandIdentifymethodsofcalculatingtheinflationbasedondifferentpriceindexes.

Measuringinflation.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge8.2.3Discusshowbusinessperformance

canbeincreasedunderahighinflationaryconditioninthecountry.

Effectsofinflationonbusinesses.

8.2.4Discusshowdemandmanagementandsupplymanagementpoliciescontrolinflationinacountry.

Remediesforinflation.

8.2.5Identifytherelationshipbetweeninflationrateandinterestrate.

Inflationandinterestrate.

8.3 Exchange rates in Competitive Markets

8.3.1Explainhowexchangeratesaredeterminedandhowchangesinexchangeratesaffectbusinessperformances.

Impactofexchangerateonbusinesses.

8.3.2Defineanddiscussthecontroversyonmarketversusfixedexchangerates.

Marketexchangeratevs.fixedexchangerate.

8.3.3Discusshowbalanceofpaymentisdeterminedandidentifytheimpactofbalanceofpaymentonbusinessdecisions.

Balanceofpayment.

8.3.4Identifytheactionstobetakenbythefinancialauthoritiestocontrolthedepreciationofcurrency.

Potentialactionstocontrolthedepreciationofcurrency.

8.4 Monitory Policy and Fiscal Policy

8.4.1Discussthetoolsofmonitorypolicyandexplainhowmonitorypolicycanimpactonbusinessesinthecompetitiveenvironments.

Monitorypolicyanditsimpactonbusinesses.

8.4.2Discussthetoolsoffiscalpolicyandexplainhowafiscalpolicyimpactbusinessesincompetitiveenvironments.

Fiscalpolicyanditsimpactonbusinesses.

8.4.3IdentifythefinancialmarketsandrecenttrendsoffinancialintermediationinSriLanka.

Financialmarketandintermediation.

8.4.4DiscusstheroleandresponsibilitiesofCentralBankinthefinancialsysteminSriLanka.

RoleandtheresponsibilitiesoftheCentralBankinthefinancialsystem.


Pillar : Professional SkillsCourse Unit : Business Communication IMain Curriculum Areas Weightage Notional hours

A. Reading(LevelI) 30% 75

B. Writing(LevelI) 30% 75

C. Listening(LevelI) 20% 50

D. Speaking(LevelI) 20% 50

Total 100% 250


Detailed Curriculum

A. Reading : 30%Knowledge Component Learning Outcomes Specific Knowledge1.1 Understanding basic

accounting & business terminology

1.1.1 Recogniseanddefinebasicaccounting&businessvocabularyinEnglish.

Basicaccounting&businessterminology.

1.1.2 Interpretandapplythemeaningofaccounting&businessvocabularyinappropriatebusinesscontexts.

1.2 Developing technical reading skills (Level I)

1.2.1 Comprehendformal/informaldocumentsinabusinessenvironment(memos,letters,minutes,CVs,newspaperarticles,socialmediatexts).

Formal/informaldocumentsinabusinessenvironment.

1.2.2 Practicereadingtechniquesincomprehendingexplicitmeaningsofsimpletexts.

Scanning,skimminganduseofsubject-relatedvocabulary.

1.3 Identifying the main idea and supporting details (Level I)

1.3.1 Identifytopicsentences&supportdetails.

Sociolinguisticcompetence.

1.3.2 Interpretamessageconveyedthroughsocialmedia/electronicmedia.(Socialmediaposts,memes).

B. Writing : 30%


2.1 Using basic accounting & business vocabulary in appropriate contexts to achieve meaningful communication

2.1.1 Usebasicaccountingandbusinessvocabulary,ingrammaticallyaccurateshorttexts.

Businessandaccountingvocabulary.

2.1.2 Applybusinessterminologyappropriatelyinbusinessdocuments.

2.2 Effective communication in a business environment through writing

2.2.1 Produceprofessionaldocumentsbasedonappropriategenrebasedprofessionaldocuments(Meetingagendas,invitations,notices&CVs).

Structureofdifferentprofessionaldocuments(Meetingagendas,invitations,CVsandnotices).

2.3 Writing a business text (Level I)

2.3.1 Producedifferentvarietiesofsimple,well-organisedandaccuratelystructuredbusinesstexts(Emailsandmemos).

structureofbusinesstexts(Emailsandmemos).

2.3.2 Differentiatebetweenthedifferentregistersinbusinessandacademicwritinganduseappropriateconventionsofwriting.

Genres.



2.4 Paraphrasing and Summarising (Level I)

2.4.1 Reproduceinformationbyparaphrasing/summarising/synthesisingforacademicandprofessionalpurposes.

Paraphrasing/summarising/synthesisingforacademic/professionalpurposes.

2.5 Writing an academic text Part I (Level I)

2.5.1 Identify&selectreliablesourcesforacademicwriting.

Evaluationoftexts.

2.5.2 Composetopicsentences&supportingdetailstoconstructcohesive&coherentparagraphs.

Featuresofacademicessays.

C. Listening : 20%


3.1 Listening for specific academic/professional purposes (Level I)

3.1.1 Identifykeypointsinalecture/meetings/speeches/presentations/discussions&takedownrelevantnotes.

Listeningforgistinbusiness/academicrelatedconversations(lectures,boardmeetings,businessforumsandone-to-onediscussions).3.1.2 Listento,understand&follow

instructions.3.1.3 Identifyspecific/generalinformation

throughactivelistening.D. Speaking : 20%


4.1 Basic negotiation skills 4.1.1 Practiceaskingandrespondingtoquestions.Addressbreakdownsincommunicationusingappropriatestrategies.

Communicationstrategies.

4.2 Make technical presentations

4.2.1 Practicetechniquesinrequestingclarificationsandrespondingtoqueriesinbusinesssettings.

EffectivePowerPointpresentations.

4.2.2 Expressopinions/pointsofviewinagroupdiscussion.

4.2.3 Practicegivinginstructions/directionstoothers.

4.3 Presentation skills 4.3.1 Developanddelivereffectivepresentationsinacademic/professionalsettingswithsupportingvisuals.

PresentationSkills.


Detailed Curriculum

6.2 BUSINESSLEVELII

Corporate Level

Business Level II

Business Level I

Strategic Level


Pillar : Audit, Assurance & Ethics Course Unit : Audit, Business Processes & DigitalisationMain Curriculum Areas Weightage Notional hours

A. Introductiontocorporategovernance,risksandcontrols 10% 30

B. Businessprocessesandinternalcontrols 25% 75

C. Digitalisationandbusinessprocesses 10% 30

D. Ethicsandvalue 15% 45

E. Fundamentalsofauditandassurance 40% 120

Total 100% 300


Detailed Curriculum

A. Introduction to Corporate Governance, Risks and Controls : 10%

Knowledge Component Learning Outcomes Specific Knowledge 1.1 Corporate

Governance1.1.1 Definecorporategovernance.

IntroductiontocorporategovernanceprinciplesincludinginternationalandSriLankanevolutionaryaspects.

1.1.2 Explaintheprinciplesofgoodgovernanceincludingtherightsandresponsibilitiesofowners,investors,andthosechargedwithgovernance.

Rightsandresponsibilitiesofowners,investors,andthosechargedwithgovernance;andexplaintheroleofstakeholdersingovernance,disclosure,andtransparencyrequirements.

1.2 Board of Directors

1.2.1 ExplaintheroleofBoardofdirectorsincluding:• CEOandChairman• Executivedirectors• Non-executivedirectors• IndependentNon-executivedirectors

AbilitytoexplainthedifferencesinrolesplayedbyChairman,Executivedirector,Non-executivedirectorsincludingindependentNon-executivedirector.

1.3 Audit Committee 1.3.1 Statethefunctionsofanauditcommittee.

Purpose,composition,anddutiesofanauditcommittee.

1.3.2 ExplainOrdertoCollection(O2C),ProcurementtoPay(P2P)andRecordtoReport(R2R)contextlevelbusinessprocessesinmodernFinanceandmanagementprocess.

B. Business Processes and internal controls : 25%

Knowledge Component Learning Outcomes Specific Knowledge 2.1 Procurement to

Pay cycle

2.1.1 IdentifyactivitiesconnectedwithProcurementtoPayprocess,suchas:• Vendorselectionandevaluation• Budgetarycontrols• Placingorders• Receiving• Payment

Theprocurementprocess,Supplierselection,Budgetarycontrolsinpurchasing,Placingordersandreceivingdelivery,Payment,Otheraspectsofprocurement,Businessriskintheprocurementprocess.

2.1.2 Identifythedocumentsrelatingtoprocurementcycle,pointoforigination,flowofdocumentsandpurpose.

2.1.3 Assessthebusinessriskconnectedwithsubactivitiesrelatingtotheprocurementprocess.



2.2 Payroll/Human capital management

2.2.1 Identifyactivitiesconnectedwithpayrollprocess,suchasrecruitment,preparationandpaymentofsalaries.

Thepayrollsystem,employeesjoiningandleavingtheorganisation,paymentofwagesandsalaries,attendancerecords,runningthepayroll,deductionsfrompay,leavesheets,paymentofwagesincash,payrollreconciliation,businessrisksinthepayrollprocess.

2.2.2 Identifythedocumentsrelatingtothepayrollprocess,pointoforigination,flowofdocumentsandpurpose.

2.2.3 Assessthebusinessriskconnectedwithsubactivitiesrelatingtothepayrollprocess.

2.3 Cash Management

2.3.1 Identifyactivitiesconnectedwiththecashmanagementprocess,suchasmaintenanceofcashbook,pettycashbook,bankreconciliations,investments,etc.

Theuseofbanknotesandcoinsforreceiptandpayments,maintenanceofacashbook,currentbankbalance,recordingthecashreceivedandbanked,makingpaymentsfromthebankaccount,bankreconciliations,cashsurpluses:makinginvestments,thepettycashsystems,paymentsofpettycashclaims,recordingpettycashclaimsinthepettycashbook,impresssystemforpettycash,businessriskinthecashmanagementprocess.

2.3.2 Identifydocumentsrelatingtocashmanagement(receipts,paymentvouchers,etc.),pointoforigination,flowofdocumentsandpurpose.

2.3.3 Assessthebusinessrisksconnectedwithsubactivitiesrelatingtothecashmanagementprocess.

2.4 Property, Plant and Equipment management

2.4.1 IdentifyactivitiesconnectedwithPPEmanagement,including:• CAPEXbudgetingandapproval• Vendorselectionandtenderprocedures

• Capitalisationanddepreciation• Fixedassetregister• Physicalcontrols• Disposal

Introductiontoproperty,plantandequipment,controllingcapitalexpenditure,vendorselectionandtenderprocedures,recordingnon-currentassetsinthebookkeepingsystem,fixedassetregister,physicalcontrolsovernon-currentassets,businessriskassociatedwiththeppemanagementprocess.

2.4.2 AssessthebusinessriskconnectedwithsubactivitiesrelatingtoPPEmanagementprocess.

2.5 Inventory management

2.5.1 Identifyactivitiesconnectedwiththeinventorymanagementprocess,suchasdecidingoptimumorderquantities,physicalsafeguardofinventory,receiving/issuinggoods,etc.

Inventorycontrol,issuingmaterialfromstore,storingmaterials,inventoryorderingquantities,inventorycontrollevels,othersystemsofstorescontrol,physicalsafeguardsforinventory,businessriskconnectedwithinventorymanagementprocess,inventoryvaluation.

2.5.2 Assessthebusinessrisksconnectedwithsubactivitiesrelatingtotheinventorymanagementprocess.


Detailed Curriculum


2.6 Sales management

2.6.1 Identifyactivitiesconnectedwiththesalesprocess,suchasorderacceptance,creditevaluation,delivery,invoicing,recordingandsettlementofreceivables.

Thesalesprocess,customerselection,budgetarycontrolsinsales,customerordersanddispatchinginventory,receipts,otheraspectsofsales,businessriskinthesalesprocess.2.6.2 Identifythedocumentsrelatingtosales

process,pointoforigination,flowofdocumentsandpurpose.

2.6.3 Assessthebusinessrisksconnectedwithactivitiesrelatingtothesalesandreceivableprocess.

2.7 Role of internal controls in mitigating risk

2.7.1 Definethesystemofinternalcontrol. Definitionofinternalcontrol,theelementsofaninternalcontrolsystem,internalcontrols,financial,operationalandcompliancecontrols,preventive,detectiveandcorrectivecontrols,controlprocedures,internalcontrolrisks,informationandcommunicationininternalcontrol,informationprocessingcontrols,monitoringaninternalcontrolsystem,controlsoverfinancialreporting,limitationsofaninternalcontrolsystem,governanceandrisk.

2.7.2 Identifyelementsofinternalcontrol.2.7.3 Identifytheroleoftheinternalcontrol

systeminanentityinmitigatingriskatthebusinessprocesslevel.

2.8 Elements of Internal Controls:

• Control Activities• Information Systems

and communication• Monitoring

2.8.1 Explainmaincontrolactivitiessuchas:• Segregationofduties• Physicalcontrols

• Authorisation• BusinessPerformanceReview• Informationprocessingcontrols

2.8.2 Explaintheroleoftheinformationsystemandcommunicationsystemswithintheoverallinternalcontrolsystemofanentity.

2.8.3 Identifytheinternalcontrolmonitoringmechanismsdesignedtoensureeffectivenessofprocessandbusiness.

2.8.4 Explaintheinternalcontroloverfinancialreporting.

2.9 Limitation of Internal Control

2.9.1 Discusstheinherentlimitationsofaninternalcontrolsystem.

2.10 Roles and responsibilities

2.10.1Identifywhoisresponsiblefortheintroductionofcontrolsinanorganisation.


Knowledge Component Learning Outcomes Specific Knowledge 2.11 Design

effectiveness of internal controls.

2.11.1Explaintheimportanceofdesigneffectivenessofcontrolinachievingtheobjectivesofagivenbusinessprocess.

Theimportanceofeffectiveinternalcontrols,designeffectivenessofinternalcontrols,operatingeffectivenessofinternalcontrols,internalcontrolquestionnaires,internalcontrolevaluationquestionnaires,controlsinitsystems:generalcontrolsandapplicationcontrols,generalitcontrols,applicationitcontrols,deficienciesininternalcontrols,mitigatingcontrols.

2.12 Operating effectiveness of internal controls

2.12.1Explaintheimportanceofoperatingeffectivenessofinternalcontrol.

2.13 IT general controls and application controls

2.13.1ExplaintheimportanceofITgeneralcontrolsandapplicationcontrolsinachievingcontrolobjectivesinagivenbusinessprocess.

2.14 Internal control deficiencies

2.14.1Explaindeficienciesininternalcontrolsinagivenbusinessprocess.

C. Digitalisation and business processes : 10%


3.1 Introduction to Fintech

3.1.1 ExplainmeaningofFintechanditsimpactonbusinessenvironment.

Identifythedigitalisationsuchasblockchain,artificialintelligence,robotic,processautomation&cybersecurity,andimpactofthemonbusinessprocessesandauditing.

3.2 Introduction to Block Chain

3.2.1 Explainblockchaintechnologyanditsimpactonbusinessprocessesandauditing.

3.3 Artificial intelligence basics

3.3.1 ExplaintheuseofArtificialintelligenceinbusinesstransactionprocesses.

3.4 Introduction to Robotics process automation/ Big data & cyber security

3.4.1 DefineRoboticprocessautomation(RPA).

3.4.2 Explaintheapplicationofbigdata&dataanalytics.

3.4.3 Explaincyberriskandsecuritymeasures.3.4.4 BusinessapplicationandauditingofRPA.

D. Ethics and Value : 15%

Knowledge Component Learning Outcomes Specific Knowledge 4.1 Law, ethics

and morality development

4.1.1 Identifydifferencesbetweenlaw,ethicsandmorality.

Law,ethicsandmorality,theimportanceofethicalbehaviorforaccountants/auditors,fundamentalprinciplesofprofessionalethics,integrity,objectivity,professionalcompetenceandduecare,confidentiality,professionalbehavior,threatstoprofessionalethicalbehavior,dealingwiththreatstoprofessionalethicalbehavior,generalframeworkformakinghigh-qualityprofessionaldecisions,ethicaltheories"ethicalconflictresolution,aaamodel".

4.2 Professional ethics

4.2.1 StatetheimportanceofethicalbehaviorincludingtheneedtoactinPublicinterestforaprofessionalaccountant.

4.2.2 Recognisetheuseofconceptualframeworkapproachinidentifyingthreats,evaluatingthesignificanceandapplyingsafeguards.

4.2.3 Describesituationswhereethicalconflictscanarise(suchasconflictofinterest,acceptingandmakingoffers).


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 4.3. Auditors

Independence4.3.1 Explaintheconceptofauditors

independenceandrecognisewhythoseundertakinganassuranceengagementarerequiredtobeindependentoftheirclients.

4.4 Judgmental and ethical decision-making frameworks

4.4.1 Recognisedeontologicalandteleologicalviewsofethics.

4.4.2 Describeethicaldecisionmakingmodelsthatcouldbeappliedinanethicalconflictscenario.

E. Fundamentals of Audit and Assurance : 40%Knowledge Component Learning Outcomes Specific Knowledge 5.1 Elements and

objectives of an assurance engagement

5.1.1 Describeassuranceengagementsincludingattestationanddirectengagements.

Definitionofassuranceengagements,objectivesofanassuranceengagement,elementsofanassuranceengagement,typesofassuranceengagement,reviewengagement.

5.1.2 Explainthekeyareasoftheassuranceframework,includingelements,objectives,scope,etc.

5.1.3 Explainthedifferencebetweenreasonableassuranceengagements&limitedassuranceengagements.

5.2 Acceptance of assurance engagements

5.2.1 Explainpreconditionsforassuranceengagements.

5.3 General principles of an audit of financial statements

5.3.1 Discussgeneralprinciplesgoverninganauditoffinancialstatements,suchasriskofmaterialmisstatements,detectionriskprofessionalskepticism,professionaljudgments,etc.

5.3.2 ExplaintheneedtoconductanauditinaccordancewithSLAuS.

5.3.3 Explaintheobjectivesandattributesofauditdocumentation.

BasicunderstandingofSLAUS230-Auditdocumentation.

5.4 Terms of Engagement

5.4.1 Discusstheimportanceofengagementlettersandtheircontents.

Importanceofengagementletter.

5.5 Review Engagements

5.5.1 Explaintheobjectiveandscopeofanengagementtoreviewfinancialstatements.

Objectiveandscopeofanengagementtoreviewfinancialstatements.


Knowledge Component Learning Outcomes Specific Knowledge 5.6 Audit Planning,

risk assessment and risk response

5.6.1 Identifytheactivitiesconnectedwithsettingtheoverallauditstrategy.

Auditoffinancialstatements,generalprinciplesgoverninganauditoffinancialstatements,overallauditstrategy,materialityriskassessmentinauditplanning,thecomponentsofauditrisk,auditevidence,nature,timingandextentofgatheringauditevidence,testsofcontrols,substantiveprocedures,procedurestoobtainauditevidences,testsofdetail,analyticalprocedures,auditsampling,auditorresponsibilityinpreventingfrauds,relatedparties&auditreporting.

5.6.2 Explainoverallmateriality,performanceandmaterialitylevel.

5.6.3 Explainriskassessmentproceduresusedtoobtainanunderstandingoftheentityanditsenvironment.

5.6.4 ExplainfinancialStatementassertionsabout:(i) Classesoftransactionsandeventsandrelateddisclosures;

(ii) Accountbalancesandrelateddisclosuresattheperiodend.

5.6.5 Identifyaspectsofthebusinessrelevanttoaudits,includingindustry,natureoftheentity,objectives,strategies,businessriskandKPIs.

5.6.6 Explainthedifferencebetweenoverallfinancialstatementriskandriskatassertionlevel.

5.6.7 Identifytheimportanceofidentifyingandassessingtheriskwithrelatedpartytransactionsduringanauditoffinancialstatements.

5.6.8 Explainauditsresponsetoassessedriskofmaterialmisstatementsincludingoverallresponseandresponseatassertionlevel.

5.7 Risk of material misstatement at assertion level and at financial statement level

5.7.1 Explainthedifferencebetweenriskofmaterialmisstatementatassertionlevelandriskofmaterialmisstatementsatfinancialstatementlevel.

Riskofmaterialmisstatementatassertionlevelandriskofmaterialmisstatementsatfinancialstatementlevel.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 5.8 Audit Evidence 5.8.1 Define“auditevidence”. Auditevidence. 5.8.2 Identifyfactorsthataffectauditors’

judgmentastowhatconstitutessufficientappropriateevidence.

Auditors’judgmentingatheringauditevidence.

5.9 Sufficient appropriate audit evidence

5.9.1 Explaintheconceptsandmeaningsof:• Sufficientandappropriateauditevidence

• Thenature,timingandextentofauditprocedures

Sufficientandappropriateauditevidence.

Nature,timingandextentofauditprocedures.

5.9.2 Explainthemeaningandthedifferencebetweentestofcontrolsandsubstantiveprocedures.

Testofcontrolsandsubstantiveprocedures.

5.9.3 Listdifferentauditproceduresusedtogatherauditevidence.

Auditprocedures.

5.10 Subsequent events

5.10.1 Explainauditorsresponsibilitiesforidentifyingsubsequentevents.

Subsequentevents.

5.11 Written representation

5.11.1 Explaintheuseofwrittenrepresentationasauditevidence.

Writtenrepresentation.

5.12 Fraud risk in an audit of financial statement

5.12.1 Explainauditor'sresponsibilityforpreventinganddetectingfraudsinanauditoffinancialstatements.

Auditor'sresponsibilityforfraud.

5.13 Audit report 5.13.1 Statetheelementsofanauditreport. Auditreport.

5.13.2.Explaintheimportanceandrationaleforeachkeyelementsintheauditreport.

5.13.3Identifycircumstanceswhereauditorexpressamodifiedauditopinionorincludeanemphasisorothermatterparagraph.

Modifiedauditreport.

5.14 Related services engagements

5.14.1ExplainthepurposeandnatureofengagementtoprovideAgreedUponProcedures(AUP)andelementsofaAUPreport.

BasicunderstandingofSLSRS4400-EngagementstoperformAUPregardingfinancialinformation.


Pillar : Performance Measurement and Risk Course Unit : Management AccountingMain Curriculum Areas Weightage Notional hours

A. Costaccounting 35% 105

B. Planning&controlling 20% 60

C. Decisionmaking 25% 75

D. Risk&uncertainty 10% 30

E. Workingcapitalmanagement 10% 30

Total 100% 300


Detailed Curriculum

A. Cost Accounting : 35%Knowledge Component Learning Outcomes Specific Knowledge1.1 Introduction to Cost

& Management Accounting

1.1.1 Explainthedifferencebetweentheroleofamanagementaccountantandthefinancialaccountant.

Definitionsofmanagementaccounting&costaccounting,natureofmanagementaccountinginformation.

1.1.2 ExplaintheroleofManagementAccountanttosupportplanning,controllinganddecisionmaking.

Objectiveandscopeofmanagementaccounting,policiesandplanstoachievedesiredobjectivesofmanagement,levelsofplanningandcontrolling(operational,managementandcorporatelevel).

1.2 Cost classification 1.2.1 Identifykeycomponentsofproductioncost.

Componentsclassifiedunderproductionandservicecost.

1.2.2 Explaindifferentcostclassificationsandidentifydifferentcostcategories.

Costclassifications;

• bynature(material,labour,othercost).

• forprofitmeasurementandstockvaluation(directcost,indirectcost,manufacturingcost&non-manufacturingcost,productcost,periodiccost).

• byBehaviour,fordecisionmaking&controlling(Variablecost,fixedcost,semivariablecost,relevantcost,irrelevantcost,controllablecost,Non-controllablecost)

1.2.3Calculateappropriatecostestimationshavingidentifiedthecostbehavior.

Costestimationusinghigh-lowmethod,scatterdiagram&regressionmethod,Computeandinterpretcorrelationcoefficient,rankcorrelation).

1.3 Labour Costs 1.3.1Computelabourcostsusingdifferentremunerationmethods.

Timebasedpay(conceptofovertime,idletime),performancebasedpay,guaranteedremuneration,bonusschemes.

1.3.2Computethelabourcostforaproductionorganisation.

Direct&indirectlabourcosts.


Knowledge Component Learning Outcomes Specific Knowledge1.4 Overhead Costs 1.4.1PrepareanOverheadCost

statement.Definitionandcomponentsunderoverheadcost,overheadallocation&apportionment,reapportionmentunderreciprocalservicing(repeateddistributionmethod,eliminationmethod).

1.4.2ComputetheFullCostofproducts,servicesandactivitiesunderabsorptioncosting&marginalcosting.

Treatmentofdirectandindirectcostsinascertainingthefullcostofaproduct.

Overheadabsorption(singleO.A.R,DepartmentalO.A.R).

Over/UnderAbsorptionofoverheads.

1.5 Pricing 1.5.1Applycostinformationinpricingdecisions.

Marginalcostpluspricing&fullcostpluspricingtoachievespecifiedtargets(E.g.:ReturnonInvestment,Margin,Mark-up)

1.6 Integrated Accounting 1.6.1Explaintheintegrationofcostaccountswiththefinancialaccountingsystem.

Explaintheadvantagesanddisadvantagesofintegratedaccounting

1.6.2Prepareaccountsforinventory,labor,overheadswork-in-progressfinishedgoodsflowinguptoincomestatement.

Inventorycontrolaccounts(Material,Workinprogress,Finishedgoods),Wagescontrolaccount,Production&Non-productionoverheadControlaccount,Accountingforoverheadunderabsorption/overabsorption,costofsalescontrolaccount,Incomestatement

1.7 Specific Order Costing 1.7.1Computeandaccountforthecostsofaspecificorderusingjobcostingandbatchcosting.

SpecificOrderCosting(JobCosting&BatchCosting)• Characteristicsofjobcosting&batchcosting

• Jobcostcard• Accountingforjobs

1.7.2Computeandaccountforthecostsofaspecificorderusingcontractcosting.

ContractCosting(Characteristics,preparationcontractaccounts&recognisingprofits)

1.7.3Computethecostofaspecificorderusingservicecosting.

Servicecostingwithcompositecostunits.

1.8 Process costing 1.8.1Identifystagesofaprocessandaccountforprocesscosts.

Losses&gains,costentriesinprocessaccounts.

1.8.2Interpretandapplytheconceptofequivalentunitproductcosting.

EquivalentunitconceptforWIP,FIFOMethod&WeightedAverageMethodforopeningWIP.

1.8.3ComputethecostofjointproductsandByproducts.

Joint&ByProductCosting.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge1.9 Marginal & Absorption

costing1.9.1Computeinventoryvalueandprofit

underAbsorptioncostingandmarginalcosting.

• InventoryvaluationandProfitstatementunderMarginalandabsorptioncosting

• Arguments‘for’and‘against’eachmethod;MarginalandAbsorptionCosting

1.9.2PreparereconciliationfordifferencesinprofitcalculatedunderAbsorptioncosting&MarginalCostingsystem.

ProfitReconciliations.

1.10 Modern Manufacturing Environment

1.10.1Identifythedriversofchangeinthemodernmanufacturingenvironment.

Changesinthemodernmanufacturingenvironment.

1.10.2DiscusstheconceptofJust-in-timeandtheimpactofJust-in-timeinamodernorganisation.

• JustintimevsJustincase• Philosophyofjustintime• AdvantageanddisadvantagesofJustintime

1.10.3DiscusstheimportanceofQualityCostingasapartofTotalQualitymanagement.

PrinciplesofTotalQualityManagementandthesupportingconceptssuchasLeanManufacturing,SixSigma,Kaizan.

1.10.4DiscusstheimportanceofBusinessProcessRe-engineeringtoanorganisation.

BusinessProcessRe-engineeringandeliminationonnonvalueaddingactivitiesandreductionofactivitycosts.

1.10.5Applythroughputaccountingprinciplesforprofitreportingandinventoryvaluation.

Theoryofconstraints&ThroughputAccounting.

ClassificationofQualitycostsintopreventioncosts,appraisalcosts,internalfailurecostsandexternalfailurecosts

The“OptimumProductMix”whentherearebottleneckresources

1.10.6DiscusstheprosandconsofBackflushcosting.

BackflushCosting.

1.10.7Discusstheevolutionofresourceplanningandmanagementsystems.

EvolutionofSystems(MRPI,MRPII,ERPI,ERPII).

B. Planning & Controlling : 20%Knowledge Component Learning Outcomes Specific Knowledge2.1 Introduction to

Standard Costing & Variance Analysis

2.1.1Identifydifferenttypesofstandardsandmethodsofvariancecalculations.

Definitions&purposesofstandardcosting,Differenttypesofstandards(Ideal,AttainableandCurrent)Preparationofthestandardcostcard


Knowledge Component Learning Outcomes Specific Knowledge2.1.2Computeandinterpretvariances

relatedtosalesandcosts.Calculate&InterpretBasicVariances;

Costvariances:Material(total,priceandusage)/Labour(total,rate,efficiencyandidletime)/VariableOverhead(total,expenditureandefficiency)variances

Note:Materialvarianceswithrawmaterialstocksneedtobecomputed

Salesvariances:SalesPricevariance/SalesVolumeContributionvariance

2.1.3Prepareastatementthatreconcilesbudgetedcontributionwiththeactualcontributioncalculatedusingmarginalcosting.

Theuseofvariancestoreconcilethebudgetedandactualcontributionthathavebeencalculatedusingmarginalcosting

Accountingforvariancesintheintegratedaccountingsystem.

2.2 Budgeting; Preparation and Control

2.2.1Recognisetermsanddefinitionsusedinbudgetingandillustratebudgetingprocess.

Definitions&Purposesofbudgeting,BudgetPreparationprocess(BudgetPeriod,BudgetCentre,BudgetCommittee,BudgetManual,Principalbudgetfactor).

2.2.2Preparefunctionalbudgets. Functionalbudgets(Sales,Production,MaterialUsage/Purchases,Labour,Overheadbudgets).

2.2.3PreparecashbudgetsandExplainthesolutionsforbudgetedcashdeficitsandsurplusesintheshortandlongrun.

CashBudget

Toolsforshorttermandlongtermcashdeficitsandsurpluses

2.2.4ExplaintheMasterBudget. Linkagebetweenbudgetedincomestatement,balancesheetandcashflowstatementinthemasterbudget.

2.2.5Calculateprojectedsalesvolumes,revenueandcostsusingforecastingtechniques.

TimeSeriesForecasting(RegressionMethodandMovingAverageMethod),AdjustingforSeasonality(AdditiveandMultiplicativeMethods)


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.2.6Explainfeedbackandfeedforward

controlsandtheirbehavioralimplications.

FeedForwardvsFeedbackcontrol.

2.2.7ExplainthedisadvantagesofBudgetingincludingBudgetSlack.

DisadvantagesofBudgetingincludingBudgetSlack.

C. Decision Making : 20%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Cost-Volume-Profit

Analysis3.1.1 Computethecontributionfrom

products,servicesandactivities.ConceptofContribution&C:SRatio.

3.1.2 Computebreak-evenpointandidentifyvolumerequiredforagivenprofittarget.

SingleProduct:• Break-evenAnalysis• TargetProfit• MarginofSafety• Break-evenCharts(Traditional,Contribution,Profit-volume).

3.1.3 ApplyBEPformultipleproducts. MultiproductBreak-evenAnalysiscomputations&charts.

3.2 Single Limiting Factor decisions

3.2.1Identifytheoptimumproduction/salesmixforasinglelimitingfactorscenario.

Limitingfactoranalysis(Contributionperlimitingfactor)foramulti-productcompanywithonescarceresource.

3.3 Relevant Costing 3.3.1Identifytherelevantcostforshorttermdecisionmaking.

Relevant(Opportunitycost,Avoidablecost,IncrementalCost)vsNonRelevantCosts(Sunkcost,committedcost,non-cashflowcost,commoncosts,notionalcosts).

3.4 Long-term Decision Making

3.4.1ExplainthepurposeofInvestmentAppraisals.

ObjectivesofInvestmentAppraisals,InvestmentAppraisalProcess,Timevalueofmoney.

3.4.2Computethefinancialfeasibilityusingdifferentinvestmentappraisaltechniques.

Investmentappraisaltechniques:

• NonDiscountedCashflowTechniques(AccountingRateofReturn,PaybackPeriod)

• TimeValueofMoney-DiscountedCashflow,Perpetuity

• DiscountedCashflowTechniques(DiscountedPaybackPeriod,NPV,IRR)

• WorkingCapitalinInvestmentAppraisals

• NPVvsIRR• Non-FinancialFactorsinInvestmentAppraisals


D. Risk & Uncertainty : 10%

Knowledge Component Learning Outcomes Specific Knowledge4.1 Introduction to Risk &

Uncertainty4.1.1Demonstratetheuseofdifferent

conceptstoconsiderrisk&uncertainty.

Conceptsofprobability,standarddeviationandcoefficientofvariation(Basicillustrationonly).

4.2 Basic Decision Making Tools under Risk

4.2.2Calculatesummarymeasuresofcentraltendencyanddispersionforbothgroupedandungroupeddata

Arithmeticmean,median,mode,range,variance,standarddeviationandcoefficientofvariationforbothungroupedandgroupeddata

4.2.2Demonstratetheuseofprobabilityindecisionmaking

• Probability(ComplementaryLaw,AdditionLawandMultiplicationLaw)

• Normaldistribution4.2.3Analyseoutcomesusingthebasic

decisiontoolsunderrisk.• Maxi-max,Maxi-min,Mini-maxRegretCriteria

• Expectedvalueandpayofftables.

• Limitationsofexpectedvalues• DecisionTree• ValueofPerfect&ImperfectInformation

E. Working Capital Management : 10%

Knowledge Component Learning Outcomes Specific Knowledge5.1 Material Management 5.1.1Illustratetheinventorycontrol

process.• InventoryControloverview;Ordering,Purchasing,Receiving,Storing&Issuing,Storingmethods;CentralisedvsDecentralisedstoring,

• PeriodicvsPerpetualstocktaking.

5.1.2Calculateinventoryrelatedcostsforamanufacturingorganisation.

Purchasingcost,Orderingcost,HoldingCost,Stockoutcost.

5.1.3CalculateinventorycontrollevelsandEOQ.

InventoryControllevels(Re-orderLevel,maximumstocklevel,minimumstocklevel)

EconomicOrderQuantity5.1.4CalculatethecostofIssuedstocks

andClosingInventoryusingFIFO,LIFOandWeightedAverageCostmethods.

Issuing&valuation:FIFOmethod,LIFOmethod,Weightedaveragecostmethods.


Detailed Curriculum

Pillar : Taxation and LawCourse Unit : Business TaxationMain Curriculum Areas Weightage Notional hours

A.Introductiontotaxation 5% 15

B.Incometaxliabilityofaresidentindividual 25% 75

C.Basicincometaxliabilityofaresidentcompany 10% 30

D.Gainsfromrealisationofinvestmentassets 5% 15

E.Valueaddedtax 15% 45

F. Othertaxesapplicabletobusinesses 10% 30

G.Basicincometaxadministrationandincometaxpaymentprocedure 20% 60

H.Taxationofotherpersons&entities 10% 30

Total 100 300


A. Introduction to Taxation : 5%

Knowledge Component Learning Outcomes Specific Knowledge1.1. Functions and

principles of taxation1.1.1 Statetheeconomicandsocial

functionsoftaxation.Economicandsocialfunctionsoftaxation.

1.1.2 Statetheprinciplesoftaxationandthedifferencebetweendirecttaxesandindirecttaxes.

Principlesoftaxationandthedifferencebetweendirecttaxes&indirecttaxes.

1.2. Tax system in Sri Lanka 1.2.1 StatetheroleofthefollowingtaxauthoritiesinSriLanka:

• DepartmentofInlandRevenue• ProvincialDepartmentsofRevenue

• DepartmentofCustomsandExciseDepartment

RolesofthefollowingtaxauthoritiesinSriLanka:

• DepartmentofInlandRevenue• ProvincialDepartmentsofRevenue

• DepartmentofCustomsandExciseDepartment

1.2.2 IdentifythefollowingmajortaxesinSriLanka:

• IncomeTax• Value-AddedTax(VAT)• NationBuildingTax(NBT)• EconomicServiceCharge• StampDuty• ExciseDutyandTaxesonImports

MajortaxesinSriLanka:

• IncomeTax• Value-AddedTax(VAT)• NationBuildingTax(NBT)• EconomicServiceCharge• StampDuty• ExciseDutyandTaxesonImports

B. Income Tax Liability of a Resident Individual : 25%


2.1 Imposition of income tax

2.1.1 IdentifytheStatutoryprovisionsapplicabletoincometax.

Statutoryprovisionsapplicabletoincometax

2.1.2 ExplainthechargeabilityofincometaxtoapersonundertheInlandRevenueAct.

ChargeabilityofincometaxtoapersonundertheInlandRevenueAct

2.1.2 ExplainthechargeabilityofincometaxtoapersonundertheInlandRevenueAct.

Meaningof“person”,yearofassessment,sourceofincome&incomeandthe“residencerule”

2.2 Statutory income from sources of income & income listed in the Inland Revenue Act

2.2.1 Calculateassessableincomefromabusinessofsmallormediumscaleenterprisetakingintoconsiderationallowableanddisallowableexpensesandrealisationofcapitalassets.

Assessableincomefromabusinessofsmallormediumscaleenterprisetakingintoconsiderationallowableanddisallowableexpensesandrealisationofcapitalassets.

2.2.2 Calculateassessableincomefromemployment(includingallcashandnon-cashbenefits).

Assessableincomefromemployment(includingallcashandnon-cashbenefits).

2.2.3 Calculateassessableincomefrominvestment(excludinggainsfromrealisationofinvestmentassetsinchapter4).

Assessableincomefrominvestment(excludinggainsfromrealisationofinvestmentassetsinchapter4).


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.3 Taxable income 2.3.1 Calculatetaxableincometakinginto

considerationrelevantqualifyingpaymentsandreliefs.

Taxableincometakingintoconsiderationtherelevantqualifyingpaymentsandreliefs.

C. Basic Income Tax liability of a Resident Company : 10%Knowledge Component Learning Outcomes Specific Knowledge3.1 Basic understanding

of income tax liability of a resident company (non-complex straightforward scenario)

3.1.1 Identifyvarioustypesofcompaniesinrelationtoapplicationofdifferentratesofincometax.

Varioustypesofcompaniesinrelationtoapplicationofdifferentratesofincometax.

3.1.2 ExplainspecificadjustmentsapplicabletothecomputationofAssessableincomeofacompanyfrombusiness(otherthanadjustmentsapplicabletointercompanytransactions).

Specificadjustmentsapplicabletothecomputationofassessableincomeofacompanyfrombusiness(otherthanadjustmentsapplicabletointercompanytransactions).

3.1.3 Computetaxableincomeofacompany,bymakingrelevantstatutorydeductions.

Taxableincomeofacompany,bymakingrelevantstatutorydeductions.

3.1.4 Computeincometaxpayablebyasmallormediumsizedcompany.

Incometaxpayablebyasmallormediumsizedcompany.

3.2 Basic Transfer Pricing 3.2.1 Identifytheconceptofarm’slengthprice.

Theconceptofarm’slengthprice

3.2.2 Statedocumentationrequirementsundertransferpricingregulations.

Documentationrequirementsundertransferpricingregulations.

D. Gains from realisation of investment assets : 5%Knowledge Component Learning Outcomes Specific Knowledge4.1 Imposition of tax on

gains from realisation of assets & liabilities

4.1.1 IdentifythehistoryofcapitalgainstaxinSriLanka.

ThehistoryofcapitalgainstaxinSriLanka.

4.1.2 Statetheconsequencesofnon-compliance.

Consequencesofnon-compliance.

4.1.3 Identifyinvestmentsassets. Investmentsassets.4.2 Cost of an asset and

consideration4.2.1 Identifycostofanassetand

incidentalexpenditure.Costofanassetandincidentalexpenditure.

4.2.2 Identifytheconsiderationreceivedonrealisationofasset.

Theconsiderationreceivedonrealisationofasset.

4.3 Realisation of assets and liabilities

4.3.1.Statepointsofrealisationofassetsandliabilitiesincludingreversal,refundsandcompensation.

Pointsofrealisationofassetsandliabilitiesincludingreversal,refundsandcompensation

4.3.2. Identifyrealisationwithretentionofassets.

Realisationwithretentionofassets.

4.3.3. Identifytransferofassetstospouseandformerspouse,transferondeath,transfertoanassociatefornoconsideration.

Transferofassetstospouseandformerspouse,transferondeath,transfertoanassociatefornoconsideration.


Knowledge Component Learning Outcomes Specific Knowledge4.3.4. Identifyinvoluntaryrealisationwith

replacement.Involuntaryrealisationwithreplacement.

4.3.5. Identifyinvoluntaryrealisationbyseparation.

Involuntaryrealisationbyseparation.

4.4 Calculation of gains & losses

4.4.1 Calculatethegainorlossfromrealisationofassets&liabilities.

Gainorlossfromrealisationofassets&liabilities.

4.4.2 Explaintheprocedureforpaymentoftaxonrealisationofgains.

Procedureforthepaymentoftaxonrealisationofgains.

E. Value Added Tax (VAT) : 10%

Knowledge Component Learning Outcomes Specific Knowledge5.1 Obligations of a VAT-

registered person5.1.1 Impositionofvalueaddedtax

alongwiththedefinitionsfortheterms“taxableactivity”,“taxablesupply”,“supplyofgoods”,“supplyofservices”,“timeofsupply”,“taxableperiod”and“registeredperson”.

Impositionofvalueaddedtaxalongwiththedefinitionsfortheterms“taxableactivity”,“taxablesupply”,“supplyofgoods”,“supplyofservices”,“timeofsupply”,“taxableperiod”andthe“registeredperson”.

5.1.2 Advisethestatutoryobligationswithregardtofurnishingreturns,paymentoftaxanddocumentation.

Statutoryobligationswithregardtofurnishingreturns,paymentoftaxanddocumentation.

5.1.3Assessoutputtax,inputtaxandbalancetaxpayablebyaregisteredpersoninbusinesswhichcarriesoutmultipleactivities.

Outputtax,inputtaxandbalancetaxpayablebyregisteredpersoninbusinesswhichcarriesoutmultipleactivities.

5.2 Simplified VAT Scheme 5.2.1 AssesstheVATliabilityofaregisteredidentifiedpurchaserandregisteredidentifiedsupplier.

VATliabilityofaregisteredidentifiedpurchaserandregisteredidentifiedsupplier.

5.2.2 OutlinethesignificantfeaturesoftheSimplifiedVATScheme.

SignificantfeaturesoftheSimplifiedVATScheme.

5.3 Managing VAT in a business

5.3.1 ExplainstatutoryprovisionsoftheVATActwithregardtoassessments,time-barforassessments,appealsandappealsettlementprocedure.

StatutoryprovisionsoftheVATActwithregardtoassessments,time-barforassessments,appealsandappealsettlementprocedure.

5.3.2 AnalyseVATissuesinacomplexbusinessenvironmentandprovideappropriateactionstomitigatesuchsituations.

VATissuesinacomplexbusinessenvironmentandprovideappropriateactionstomitigatesuchsituations.


Detailed Curriculum

F. Other taxes applicable to businesses : 10%

Knowledge Component Learning Outcomes Specific Knowledge6.1 Nation Building Tax

(NBT)6.1.1 ExplaintheapplicabilityofNBTto

small-andmedium-sizedbusinesses,andtheregistrationthreshold.

ApplicabilityofNBTtosmall-andmedium-sizedbusinesses,andtheregistrationthreshold.

6.1.2 Listafewexceptedarticlesandservices.

Exceptedarticlesandservices.

6.1.3 Computetaxpayableinastraightforward,non-complexscenario.

Taxpayableinastraightforward,non-complexscenario.

6.1.4 Explaintheduedatesofpaymentandsubmissionofreturns.

Duedatesofpaymentandsubmissionofreturns.

6.2 Economic Service Charge (ESC)

6.2.1 ExplaintheapplicabilityofESCtosmall-andmedium-sizedbusinesses,andtheregistrationthreshold.

ApplicabilityofESCtosmall-andmedium-sizedbusinesses,andtheregistrationthreshold.

6.2.2 Computetaxpayableinastraightforward,non-complexscenarioandsubmissionofreturn.

Taxpayableinastraightforward,non-complexscenario.

6.2.3Explaintheduedatesofpayment. Duedatesofpaymentandsubmissionofreturns.

6.3 Stamp duty 6.3.1 ExplainstampdutypayabletoProvincialCouncilsonimmovablepropertiesandcalculatestampdutyonsale&giftofproperties.

StampdutypayabletoProvincialCouncilsonimmovablepropertiesandcalculatestampdutyonsale&giftofproperties.

6.3.2 ExplainstampdutypayabletoCentralGovernmentonspecifiedinstrumentsandcalculatestampdutybasedongivenrates.

StampdutypayabletoCentralGovernmentonspecifiedinstrumentsandcalculatestampdutybasedongivenrates.

G. Basic Income Tax Administration and Income Tax Payment Procedure : 20%

Knowledge Component Learning Outcomes Specific Knowledge7.1 Return of income 7.1.1 Statethecircumstancesunder

whichanindividualoracompanyisrequiredtofurnisha“return”withduedates.

Circumstancesunderwhichanindividualoracompanyisrequiredtofurnisha“return”withduedates.Onlinesubmissionofreturns.

7.1.2 Statetheconsequencesofnon-compliance.

Consequencesofnon-compliance.

7.2 Assessments 7.2.1 IdentifySelfassessments,defaultassessments,andadvanceassessments,amendedoradditionalassessmentsandcircumstancesleadingtosuchassessments.

Selfassessments,defaultassessments,andadvanceassessments,amendedoradditionalassessmentsandcircumstancesleadingtosuchassessments.

7.2.2 IdentifytimebarperiodsapplicableforeachtypesofAssessments.

TimebarperiodsapplicableforeachtypesofAssessments.


Knowledge Component Learning Outcomes Specific Knowledge7.3 Objections & Appeals 7.3.1 Staterequirementsandprocedure

foranAdministrativeReview.RequirementsandprocedureforanAdministrativeReview.

7.3.2 ExplaintheprocedureforappealtotheTaxAppealsCommission(TAC).

ProcedureforappealtotheTaxAppealsCommission(TAC)

7.3.3 ExplainthecircumstancesforappealsforTAC.

CircumstancesforappealsfromTAC.

7.4 Payment of tax and recovery of tax in default

7.4.1 Explaintheliabilitytosettleincometaxona“self-assessment”basis,includingduedatesandcalculatetaxpayablebyinstallments.

Liabilitytosettleincometaxona“self-assessment”basis,includingduedatesandcalculatetaxpayablebyinstallment.

7.4.2 Explainpenaltiesapplicableonthenon/latepaymentoftax.

Penaltiesapplicableonthenon/latepaymentoftax.

7.4.3 ListrecoveryactionsavailableundertheInlandRevenueAct.

RecoveryactionsavailableundertheInlandRevenueAct.

7.5 Withholding by Employers

7.5.1 ExplaincharacteristicsofPayAsYouEarn(PAYE)system.

CharacteristicsofPayAsYouEarn(PAYE)system.

7.5.2 ExplaintheobligationsofanemployerunderPAYE.

ObligationsofanemployerunderPAYE.

7.6 Withholding from investment returns

7.6.1 IdentifypaymentssubjectedtoWHTandrelevantrates.

PaymentssubjectedtoWHTandrelevantrates

7.6.2 Explainwithholdingtaxapplicableforpartnership.

Withholdingtaxapplicableforpartnership.

7.6.3 Identifyexemptionsfromwithholdingtax.

Exemptionsfromwithholdingtax.

7.7 Withholding from service fees and contract Payments.

7.7.1 IdentifypaymentssubjectedtoWHTandrelevantrates.

PaymentssubjectedtoWHTandrelevantrates.

7.7.2 Identifyexemptionsfromwithholdingtax.

Exemptionsfromwithholdingtax.

7.8 Other matters relevant to withholding tax

7.8.1 ExplaincompliancerequirementsunderWHTsystem.

CompliancerequirementsunderWHTsystem.

7.8.2 Identifyfinalwithholdingpayments. Finalwithholdingpayments.7.8.3 Explaintaxcreditsfornon-final

withholdingtaxpaid.Taxcreditsfornon-finalwithholdingtaxpaid.

H. Taxation other Persons & Entities : 10% Knowledge Component Learning Outcomes Specific Knowledge8.1 Bodies of persons 8.1.1 Statetheinterpretationsofthe

followingtermsfortaxpurposes:“bodyofpersons,charitablepurposeandcharitableinstitution”.

Interpretationsofthefollowingtermsfortaxpurposes:“bodyofpersons,charitablepurposeandcharitableinstitution”.

8.1.2 Explainthechargeabilityofincometaxfromcharitableinstitutionsandnon-governmentalorganisations.

Chargeabilityofincometaxfromcharitableinstitutionsandnon-governmentalorganisations.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge8.1.3 Assessthetaxliabilityofacharitable

institutionandnon-governmentalorganisation.

Taxliabilityofacharitableinstitutionandnon-governmentalorganisation.

8.1.4 Calculatethetaxableincomeofapartnership,taxpayablebyapartnership,distributionofpartnershipincomeamongpartnersandtaxesofindividualpartner.

Taxableincomeofapartnership,taxpayablebyapartnership,distributionofpartnershipincomeamongpartnersandtaxationofindividualpartners.

8.2 Trustees, executors and receivers

8.2.1 Explainthemeaningofthetermsexecutor,trusteeandreceiver.

Meaningofthetermsexecutor,trusteeandreceiver.

8.2.2 Assessincometaxliabilityofapersonintheabovecapacities.

Incometaxliabilityofapersonintheabovecapacities.


Pillar : Business Management & StrategyCourse Unit : Digital Business StrategyMain Curriculum Areas Weightage Notional hours

A. Introductiontobusinessstrategyandtechnology 20% 60

B. Managinginformationinbusiness 25% 75

C. Natureandscopeofe-business 30% 90

D.Marketingstrategiesindigitalage 25% 75

Total 100% 300


Detailed Curriculum

A. Introduction to Business Strategy and Technology : 20%Knowledge Component Learning Outcomes Specific Knowledge1.1 Business

Management Process and Technology

1.1.1 Identifystrategiesoforganisationsindifferentlevelsofmanagementandtheintegrationofstrategiestoenhancebusinessperformance.

Definitionofstrategy.

Typesofstrategiesinbusinesses.

1.1.2 ExplaintheroleofTechnologyinformulatingandimplementationofStrategies.

RoleofTechnologyinformulatingandimplementationofStrategies.

1.1.3 Discusstechnologyapplicationsinbusinessprocessforenhancingefficiencyandeffectiveness.

TechnologyApplicationsinBusinessProcess.

1.1.4 RelatetheTechnologyandInnovationforbusinessvaluecreation.

BusinessValueCreationthroughTechnologyandInnovation(ApplicationofTechnologyinValueChain).

1.1.5 Identifytechnologyinfrastructuresadoptedbymodernbusinessorganisationsindynamicenvironment.

TechnologyInfrastructuresforbusinesses.

1.2 Managing Technology in Organisations

1.2.1 DiscussthesignificanceofmanagingtechnologyforbusinesssuccessincludingFintech.

SignificanceofManagingTechnologyincludingFintech.

1.2.2 DescribetheprocessofmanagingTechnologyinorganisations.

ProcessofManagingTechnology.

1.2.3 ExamineroleofMOTinabusinesses.

RoleMOTinabusiness.

1.2.4 Recognisethestagesoftechnologylifecycle,principlesoflifecyclesoftechnologyandmarketresponsesforthelifecyclesinvariousphases.

TechnologyLifeCycles(Stages,PrinciplesandMarketresponses).

1.2.5 Explainthereasonsfortechnologyacquisitionandduediligencepriortoobtainingnewtechnology.

Applythedifferenttypesofacquisitionmodesbasedonthesituation.

ProcessofTechnologyAcquisition(Reasons,typesandduediligencepriortoobtainingnewtechnology).

1.3 Digitalisation of Business and Commerce

1.3.1 Compareandcontrastuniquefeaturesofadigitalbusinessovertraditionalbusiness.

Uniquefeaturesofadigitalbusinessovertraditionalbusiness.

1.3.2 Identifybenefitsanddrawbacksofdigitalbusiness.

Benefitsanddrawbacksofdigitalbusiness.


Knowledge Component Learning Outcomes Specific Knowledge1.3.3 Explainthelatestdevelopmentsin

thedigitalbusinessandcommercespectrum.

Latestdevelopmentsinthedigitalbusinessandcommercespectrum.

B. Managing Information in Business : 25%Knowledge Component Learning Outcomes Specific Knowledge2.1 Role of information

systems in businesses

2.1.1 DistinguishbasicconceptsforIT/ISmanagementandexaminetheroleofinformationsystemsinbusinessprocesses.

Businessprocesses&informationsystems.

2.1.2 Compareandcontrastdifferenttypesofinformationsystemsadoptedbybusinessorganisations.

Typesofinformationsystems.

2.1.3 RecogniseITinfrastructure&emergingtechnologiesforinformationmanagement.

ITinfrastructure&emergingtechnologies.

2.1.4 Discusstheroleofcommunicationtechnologyinmanaginginformation.

Communicationtechnologyininformationsystems.

2.2. ERP 2.2.1 Statesystematicallytheplanningmechanismsinanenterprise

2.2.2 IdentifyallcomponentsinanERPsystemandtherelationshipsamongthecomponents.

ThebasicconceptsofERPsystems.

2.2.3 Compareandcontrastthenatureofdifferentresourceplanningsystemsandpossibleapplicationinbusinessprocess.

MRP,MRPII,andERPsystems.

2.2.4 RecognisetheprinciplesofERPsystemsadoptedbymodernbusinessorganisations.

TheprinciplesofERPsystems.

2.2.5 IdentifymajorcomponentsofERPsystems.

MajorcomponentsofERPsystems.

2.2.6 DiscusstheadvantagesandlimitationsofimplementingERPsystems.

AdvantagesandlimitationsofimplementingERPsystems.

C. Nature and scope of e-Business : 30%


3.1. Introduction to e-business

3.1.1 CompareandcontrastfeaturesandscopeofE-CommerceVs.e-Business.

E-CommerceVs.E-Business.

3.1.2 ExplaintypesofECtransactionsadoptedbymodernbusinesses.

TypesofECtransactions.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge3.1.3 Discussthenatureand

applicationsofdifferente-BusinessModels.

E-BusinessModels.

3.1.4 IdentifytheElementsofe-BusinessModelsandintegrationoftheelementsfordevelopingValuepropositiontothecustomers.

Elementsofe-BusinessModels.

3.1.5 Recognisethebenefitsandlimitationsofe-Commerceande-Business.

Benefitsandlimitationsofe-Commerceande-Business.

3.2. E-business environment

3.2.1 ExplaintrendsinbusinessEnvironmentin21stCenturyandtheirimpacttobusinesses.

TrendsinbusinessEnvironmentin21stCentury.

3.2.2 Identifye-Marketplacetypes,functionsandfeatures.

E-Marketplacetypes,functionsandfeatures(Auctions,Portalsetc.).

3.2.3 Discussconsumeronlinebehaviorandbehaviordisplayintechnologyadoption.

ConsumerOnlineBehaviorandTechnologyAdoption.

3.2.4 Explainprofileofdigitisedconsumeridentifythespecificbehavioralindicatorsovertraditionalcustomer.

Profilingdigitisedconsumer.

3.3. E-Business Applications

3.3.1 Discusswaysofusinge-businessfundamentalstomakesureintegrationamongkeybusinessfunctionsoforganisation.

Integratinge-businessfundamentalstoorganisationalfunctionalmanagement.

3.3.2 Identifytechnologyapplicationinsupplychainmanagement(SCM)forbusinessvaluecreation.

TechnologyapplicationinSCM(eProcurementSystems/Supplychaininformationsystemetc).

3.3.3 RecognisethetechnologyapplicationinHRMandpossibilitiesofadoptingtoHRanalyticsforproductivityofhumanresources.

TechnologyapplicationinHRM/HRAnalytics.

3.3.4 IdentifytechnologyapplicationinoperationManagementtoenhanceoperationalperformances.

TechnologyapplicationinOperationManagement(LeanManufacturing,TotalQualityManagement,BusinessProcessReengineering).

3.3.5 Discussalternativepaymentsystemstoprovidepaymentsolutionsandorderfulfillmente-businessenvironment.

EpaymentSystem(PaymentsolutionsandOrderfulfillment).

3.3.6 Identifyissuesrelatedtoe-businessapplicationsforfindingappropriatesolutions.

Issuesrelatedtoe-businessapplications.


D. Marketing Strategies in Digital Age : 25%


4.1. Marketing Practices in Digital platform

4.1.1 CompareandcontrastfeaturesandscopeofE-marketingVsTraditionalmarketing.

E-marketingVsTraditionalmarketing.

4.1.2 RecognisecomponentsofE-Marketingadoptedbymodernbusinessfirms.

ComponentsofE-Marketing.

4.1.3 Explainemarketingtoolsandtheirpossibleapplications.

E-MarketingTools.

4.1.4 DiscusstheprocessofE-Tailingproductsandservices.

E-Tailingproductsandservices.

4.1.5 IdentifythebenefitsandlimitationofE-Tailinginbothorganisationandcustomerperspectives.

4.1.6 Identifythenewdigitalavenuesadoptedbymarketerstodelivercreativemessagestotheircustomers.

E-MarketingCommunication.

4.1.7 DiscussthepossibleapplicationsofSearchEngineOptimisationforbusinessesinstrategicperspectives.

SearchEngineOptimisation.

4.1.8 IdentifytheCustomerRelationshipManagementapplicationsindigitalenvironment.

CustomerRelationshipManagement.

4.2. Mobile and Social Media Marketing

4.2.1 RecognisetheapplicationofSocialMediaBusinessindifferentperspectives.

NatureandthescopeofSocialMediaBusiness.

4.2.2 ExaminethenatureandspecialtiesofSocialMediaMarketingcomparedtocommonemarketingapplications.

IntroductiontoSocialMediaMarketing.

4.2.3 DiscussbasicbuildingblocksofSocialMedia.

BasicBuildingBlocksofSocialMedia.

4.2.4 Examineapplicationofsocialnetworkanalysisforfindingsnewbusinessopportunities.

Socialnetworkanalysis.

4.2.5 DiscussthepossibilityofusingviralMarketingforbuildingthebrandsofbusiness.

ViralMarketing.

4.2.6 Identifypossibletoolsandtechniquesforanalysingandmonitoringsocialmedia.

AnalysisandmonitoringofSocialMedia.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge4.2.7 DiscusstheApplicationof

SocialMediaManagementToolsfordevelopingcompetitiveadvantagestobusiness.

ApplicationofSocialMediaManagementTools.

4.2.8 Recognisespecificmarketingapplicationsofmobiletechnologyoverotheremarketingapplication.

MobileApplicationsinMarketingStrategy.

4.3. Content Marketing 4.3.1 Examinethenatureandscopeofcontentmarketing.

IntroductiontoContentMarketing.

4.3.2 DiscusstheapplicationofContentmarketingasStrategicCommunicationtool.

ContentmarketingandStrategicCommunication.

4.3.3 IdentifydifferentContentMarketingBusinessModelinstrategicperspectivestofindoutbestmodelforthebusiness.

ContentMarketingBusinessModel.

4.3.4 DiscussthepossibleapplicationofContentMaturityModelforidentifyingchallengesandopportunitiesaroundcreatedcontent.

ContentMaturityModel.

4.3.5 IdentifyPrinciplesofContentMarketinginpracticalperspectives.

PrinciplesofContentMarketing.

4.3.6 ExaminethespecialfeaturesandattributeofemailMarketingwithspecialattentiontoitscostandbenefits.

NatureandScopeofe-mailMarketing.

4.3.7 Recognisethepossibilitiesofusinge-mailmarketingforenhancingtheeffectivenessofContentMarketing.

Applicationofe-mailmarketinginContentMarketing.


Pillar : Professional SkillsCourse Unit : Business Communication IIMain Curriculum Areas Weightage Notional hours

A. Reading(LevelII) 30% 75

B. Writing(LevelII) 30% 75

C. Listening(LevelII) 20% 50

D. Speaking(LevelII) 20% 50

Total 100% 250


Detailed Curriculum

A. Reading : 30%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Developing technical

reading skills (Level II)

1.1.1 Improvejob-relatedreadingskillsthrougheffectivereadingoftechnicalmaterial(Officialletters,newspaperarticles,meetingminutes).


1.1.2 Identifyspecificinformationinmoderatelycomplex&academic/nonacademictexts.

Readingforspecificinformation.

1.1.3 Comprehend&interpretthegistconveyedinbusinessdocuments.

Identifyingthemainidea/Readingforgist.

1.1.4 Practicereadingtechniquesincomprehendingexplicitmeaningsofmoderatelyadvancedtexts.


1.2 Identifying the main idea and supporting details (Level II)

1.2.1 Interpretamessageconveyedthroughsocialmedia/electronicmediawithcomplexlanguage.(Socialmediaposts,memes).

Sociolinguisticcompetence.

B. Writing : 30%

Knowledge Component Learning Outcomes Specific Knowledge2.1 Writing business texts

(Level II)2.1.1 Producedifferentvarietiesofsimple,

well-organisedandaccuratelystructuredbusinesstexts,(Formal/informalletters,shortbusinessreportsandarticles)usingdifferentregistersinbusinessandacademicwriting.

Structureofbusinesstexts(letters,shortreportsandarticles).

2.2 Data commentary

2.2.1 Applytechnicalvocabularyrelatedtodescriptionofgraphsandcharts.

Technicalterminologyrelatedtothedescriptionofgraphsandcharts.2.2.2 Describeandinterpretagraph/chart

usingappropriatevocabulary.2.4 Paraphrasing and

Summarising (Level II)2.4.1 Preparenotesonmoderately

complexacademic&professionaltexts.

Paraphrasing/summarising/synthesisingforacademic/professionalpurposes.

2.5 Writing an academic text Part I (Level II)

2.5.1 Applyappropriatestrategiestoconstructbasicacademictexts(Eg:Academicessays).

Useoftransitionalverbs,formalvocabulary,languageregister,andparagraphingtechniques.


C. Listening : 20%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Listening for specific

academic/professional purposes (Level II)

3.1.1 Identifypotential&existingbreakdownsincommunication.

Communicationstrategies.

3.1.2 Demonstratetheabilitytocomprehendimpliedandexplicitlystatedinformation.

D. Speaking : 20%

Knowledge Component Learning Outcomes Specific Knowledge4.1 Interview skills

4.1.1 Demonstratetheuseoffluent,accurate&appropriatelanguage.

Appropriatebodylanguageanduseoflanguageininterviews.

4.1.2 Demonstratetheuseofappropriate

bodylanguage.4.2 Effective speaking in a

professional setting

4.2.1 Identifydifferentvarietiesofspeechinbusinesssettings(Argumentative,persuasive,factualspeeches).

Varietiesofspeechinbusinesssettings(Argumentative,persuasive,factualspeeches).

4.2.2 Makeshortimpromptuspeechesfor

businesspurposes.4.3 Professional

communication etiquette

4.3.1 Usecommunicationdevicesappropriatelywithresponsibilityinaprofessionalsetting.

Professionalbehaviours.

4.3.2 Respondappropriatelytoinformationreceivedthroughtelephone/electroniccommunication.


Detailed Curriculum

Pillar : IT Training Pillar Course Unit : Business Information TechnologyMain Curriculum Areas Weightage Notional hours

A. BasicprinciplesofIT 10% 25

B. OfficeSkills 35% 87

C. UseofInternet 5% 13

D. AccountingPackageforSMEs 50% 125

Total 100% 250


A. Basic principles of IT : 10%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Introduction

to information management

1.1.1 Discuss:

• InformationVsInformationsystems(IS).• Usefulnessofinformationinrunningabusinessefficientlyandeffectively.

• UseofIS/ITtogeneraterelevantandreliableinformation.

• Relevancyandreliabilityofinformationtoorganisations.

• Cloudstorage(Introduction,GoogleDrive,OneDrive,DropBox).

DataVsInformation,Informationsystemconcepts,informationsystemsinorganisations,businessprocessesandinformationsystems,howinformationsystemshelpachievingstrategicbusinessobjectives,basicsofcloudcomputing.

1.2 Best practices, in using computer related resources and mitigating associated risks

1.2.1 Recognise:• Organisationofdataintofilestofacilitatequickaccessandsafetyofdata.

• Useoffilenamingconventionseffectivelytoavoidanyversionclashes.

• Bestpracticesinusinginternet&e-mail(includingrelevance,efficiencyofuse,securityaspectsandbestuseofcompanyresources).

• Healthandsafetyaspectsinusingacomputersystem.

• Bestpracticesinmaintainingback-ups.• Potentialrisksofvirusattacksandmitigationplans(includingmainsourcesofvirusattacksandhowtominimisesuchrisks;virusguardsandanti-virussoftware).

• Bestpracticeswhenusingcopyrightedmaterialandhowtoavoidplagiarism.

• Bestpracticesonbrowsing&operatingsystemmaintenance.

Basicsofdatabasemanagementanddataorganisation,Internetandemail,Socialandethicalissuesofinformationtechnology:healthrisksofinformationsystems,Basicethicalprinciples,copyrightlaw.Basicsofinformationsystemssecurity:malware,hackers,securitythreatsininternet,encryption.

B. Office Skills : 35%

Knowledge Component Learning Outcomes Specific Knowledge2.1 Standard practices

when producing Word documents

2.1.1 Identifystandardreportandletterwritingformats(includingreportingrights,openingformat,alignments,openingandendingparagraphsandtheappropriateending).

Advancedwordprocessing:formatting,usingtables,documentreviewoptions,usingequationeditor,usingcitationsandreferences,mailmerge,usingprotectionmechanisms.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.1.2 Recogniseasuitablepresentationlayout

(includingtableofcontents,watermarks,headersandfooters,logosandembeddingotherfilesinthedocument).

2.1.3 Applyoptionssuchasmailmerge,reviewnotes,crossreferencing,comparing,trackchangesandtheprintoptions.

2.1.4 Recogniseoptionsavailabletoprotecttheintegrityofthedocument(includingpasswordprotection,protectdocument,restricteditingandaccess,sharingoffiles,conversiontoPDFformatsandensuringversioncompatibilitywhensavingandusingautosaveoptiontoprotectcontent).

2.2 Spreadsheets and utilising formulas for data organising, interpretation and analysis

2.2.1 Calculateandinterpretdatausingstatisticalformulas(includingSum,average,averageif,count,counta,countblank,countif,min,max,ceiling.mathandfloor).

Basicstatisticalformulas:sum,average,count,countif,etc.LookupandReferenceformulas:lookup,vlookup,hlookup,transpose,etc.Usingtextanddate/timeformulas:len,left,mid,etc.Usingfinancialformulas:NPV,IRR,PV,etc.Usingdataanalysistools:what-ifanalysis,regressionanalysis,pivottables,etc.Usingmacros.

2.2.2 PreparedataintoformatsconvenientforinterpretationusingLookupandReferencesformulas(Includinglookup,vlookup,hlookup,transpose,column,row,filter,sort,getpivotdataandhyperlinkformulas).

2.2.3 Preparedataintoformatsconvenientforinterpretationusingtextanddate/timeformulas(includingclean,code,concatenate,findandreplace,left,len,lower,mid,proper,replace,right,search,substitute,text,trim,upper,value,now,today).

2.2.4 Calculateandanalysedatasetsusinglogicalformulassuchasand,or,if,true,false,sumif.andconditionalformatting.

2.2.5 CalculateIRR,NPV,PVandROCEusingspreadsheetformulas.

2.2.6 Applyvariousdataanalysingtools(Includingregressionanalysis,what-ifanalysisandsensitivityanalysistoassesstheoutcomesofprojects).

2.2.7 Recogniseoptionstohidingsheets,deletingsheets,Groupingsheets,Split.

2.2.8 Preparethebudgetsusingspreadsheets.2.2.9 PrepareFinancialStatementsusing

spreadsheets.2.2.10Presentthetablesandrelevantgraphs

usingspreadsheets.


Knowledge Component Learning Outcomes Specific Knowledge2.3 Structuring data

and working with multiple sheets

2.3.1 Applytexttocolumnsoptioninimportinginformationtospreadsheets.

Structuringdataandworkingwithmultiplesheets.

2.3.2 Recognise:• Benefitsofusingtemplates,variouswaysinwhichspreadsheetscanbecustomisedanddealingwithcircularreferences.

• formulaslinkedtomorethantwosheets,howsheetsaremovedbetweenspreadsheets.

2.4 Using spreadsheets 2.4.1 RecogniseandApply:• Shortcuttoolbartoincreaseproductivity.• Differentdatavalidationtechniques/usingthedatavalidationoptioninspreadsheettoassureintegrity.

• Optionsavailabletoprotecttheintegrityofthedocument(includingaspasswordprotection,protectdocument,trackchanges,sharing,traceprecedentsanddependents).

• Displayinformationgraphicallythroughtheuseofbarcharts,linecharts,piecharts,andeffectivelyusingSmartArt.

• ConversiontoPDFfiles.• Structuringdataforinterpretationusingtoolsandoptions(includingtables,formattingcells,group/ungroup,subtotal,freezepanes,removeduplicates,pagesetup,printsetting,headerfooter).

Managingandpresentingdatawithspreadsheets.

2.5. Presentation software (Power Point or Impress)

2.5.1 Recognisevariousattributesthatwouldhelpimprovethepresentationappealfordifferentuses(includingproperflowofinformation,colorpalettes,fontsandfontsizes,alignments,backgrounds,headersandfooters,usingslidenotes,handouts,andtemplates).

Basicsofpresentations,bestpractices,applyingsuitablethemesandanimations,usingmasterviewandcreatingtemplates.

2.5.2 Apply:• Animationsbysettingtimings,transitionsthroughmouseclicks,automaticslidetransitionsandcustomanimationswhenpreparingslideshows.

• Insertobjects,embedExcelsheets,inserthyperlinksandactionbuttons.

• ConversionofPStoPDF,andexecutablefiles.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.6 Organising the

mailbox/Basic tips on using e-mail facility/ Customising the layout

2.6.1RecogniseandApply:

• Flaggingandfollowups,settingrulesforjunkmail,movingemailstofolders,categorisingemails,learnhowtosortthroughemails,read/unreademailsandeffectivesearchingandsortingofemails.

• Optionssuchasviewcalendar,sharecalendar,acceptanddeclinemeetingrequests,organisemeetingsandschedulingappointments.

• Managingcontacts,takeduecarewhenusingthereply/replyallbuttons,copyingandblindcopyingindividualsonemail,recallandrecoveralreadysentemails,compilingandcirculatingmeetingminutesthroughtheuseofOneNoteandsavingemailsasdrafts.

Organisingthemailbox/Basictipsonusinge-mailfacility/customisingthelayout.

2.6.2 Preparetheemailinterfaceandmailboxasperyourconveniencebysettingviewoptions,signaturesandautoreplies;alsosettingfolderpermissionsforsecurityofconfidentialmailsandcleanupoptions.

C. Use of Internet : 5%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Efficient use of

Internet for business

3.1.1 Recognisevariousformsofinternetusagebybusinessentitiesintoday’scontextandgainunderstandingoneachbroaderaspect(includingwebdatamining&warehousing,advertising,conductofresearches,internetselling,internetbuying,bankingandfinancefunctions,trading,disseminationofinformation,customerservice).

BusinessuseofInternet:EBusiness&ECommerce.WorldWideWeb:Webbrowsers,HTML,HTTPandHTTPS,URLs.SearchEngines:Functionality,SearchEngineOptimisation.Internetadvertising.Onlinepaymentmethods.

3.1.2. Assessworld’sleadingsearchenginesintermsoftheirpopularity,andrecognisehowdifferentsearchengineswillgiveenrichedresultscomparedtoasinglesearchengineuse.

3.1.3. Ecommercepaymentstypes(PayPal,Visa,Master,QRetc...)

3.1.4. Realtimepaymentsinbankingsector(CEFT,SWIFT).


D. Accounting Package for SMEs : 50%Knowledge Component Learning Outcomes Specific Knowledge

4.1 Creating a company using accounting package and customising for the business

4.1.1 Listthecompanyinformationusingtheeasystepinterview,including:

• CompanyinformationSelectingindustry

• Selectingfiscalperiod

UsingAccountingSystem:Companyinformationupdate,customisationofaccountingpackage.Creatingsecurityandaccesscontrol.

4.1.2Customisetheaccountingpackageusingcompanyactivities,including:• Choosingappropriatebusinessactivity(productorservice)

• Createtaxactivityincludingsalestaxes• Trackingcustomerordersandinventory

• Organisingincomeandexpenseaccounts

• Enteringbankaccountinformation,includingstatementbalance

4.1.3 Createsecurityandaccesscontrol,including:• Settingupadministrativepassword• Givingaccesscontrolineachlevel• Creatingbackupcop• Settingupautobackup

4.1.4 Recognisethefollowingitemsonthehomepageandcustomiseforthecompany’srequirement:• Vendors• Customers• Employees• Company• Banking• Chartofaccounts

4.2 Organising chart of accounts, customers and vendors and inventory

4.2.1 Createachartofaccountsorselecttheappropriatechartofaccountsusinggivenindustryspecificchartofaccountsforthecompanyandcategoriseintoappropriatecategories,includingincome,expense,asset,liabilityandequity.

Chartofaccounts,Linkchartofaccounts,Customisechartofaccounts,Vendorlistandcustomerlist,Inventoryfilemanagement.

4.2.2 Recognisehowthechartofaccountslinkedtoincomestatementandbalancesheet.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge4.2.3 Customisechartofaccounts

• Addinganewaccount• Editinganexistingaccount• Creatingasub-account• Deleteanaccount

Chartofaccounts,Linkchartofaccounts,Customisechartofaccounts,Vendorlistandcustomerlist,Inventoryfilemanagement.

4.2.4 Createvendorlistandcustomerlist,including:• Addinganewvendorandcustomer• Addingvendororcustomerasrecordtransaction

• Buildanappropriatevendororcustomermasterfile

4.2.5 Createappropriateinventoryfilebyselectingtheappropriateitemsandservices,therebyintegratingwiththerespectiveaccountsgiveninthechartofaccounts,including:• Addinganewitemorservice• Editanexistingitem• Creatingasubitem• Deletinganitem

4.3 Recording day to day Business Activities

4.3.1 Recordtransactionusinganaccountingpackagetoolsincluding

• Enteringbills• Payingbills• Writeandprintchecks• Createinvoice• Receiptofpayment• Depositinbank• Raisejournalentries

Transactionrecording:–Enteringbills

• Payingbills• Writeandprintchecks• Createinvoice• Receiptofpayment• Depositinbank• Raisejournalentries.

4.4 Use of Reports and Reconciliations

4.4.1Createreportsandpreparereconciliationusinganaccountingpackageincluding.• Financialreportssuchasincomestatement,balancesheetandcashflowstatement.

• Customerreportsandvendorreports,includingageanalysis

• Bankreconciliation• Audittrail• Exportingdatatootherformats

Reportcreationandreconciliation.


Pillar : Professional ExperienceCourse Unit : Professional Experience IMain Curriculum Areas Public Practice Non-Public Practice

Weightage Expected Days/ Min.Req. Days

Weightage Expected Days / Min.Req. Days

A.FinancialAccounting 23% 50 40 45% 100 100

B.Audit&Assurance 45% 100 80 23% 50 -

C.Taxation 5% 10 10 5% 10 10

D.ManagementAccounting&FinancialManagement

9% 20 - 14% 30 20

E.InformationTechnology 9% 20 20 9% 20 20

F. GeneralManagementPractices

9% 20 - 5% 10 -

Total Days 100% 220 100% 220

Notesi. ThedaysattendingfortrainingprogrammesoranyworkshopsconductedbyCASriLankaoranyotherrecognisedtrainingorganisationwillbeconsideredasworkingdays.

ii. AttheBusiness&Corporateleveltraining,minimumof25%oftotalrequirementinTaxationshouldbeinIncomeTaxasindicatedunder3.1.1&3.1.2categories.(3.1.2categoryshouldbeatleast2.5daysperyear)

iii. IntheabsenceofanInternalAuditDivisionorwhenthereisnorotationtotheInternalAuditDivision,theexperienceonFinancialManagementcategoryshouldbeincreasedto40daysperyear.


Detailed Curriculum

A. Financial Accounting : Public Practice 23%, Non-Public Practice 45%

Knowledge Component Learning Outcomes 1.1 Financial Accounting 1.1.1 Applyknowledgeofaccounting,accountingprocessandsystemsin

carryingoutprofessionalduties.1.1.2 ApplyrelevantSriLankaAccountingStandards,provisionsofthe

CompaniesActandanyotherapplicablerulesandregulations.1.1.3 Analysingandinterpretingfinancialinformationfordecisionmaking.1.1.4 Applybasicethicalprinciplesincarryingoutprofessionalduties.1.1.5 Relateaccountingworkstootherbusinessfunctionsandactivities.1.1.6 Improvetheknowledgeandunderstandingoforganisation,how

businessworksandprofessionalworkrelationships.B. Audit & Assurance : Public Practice 45%, Non-Public Practice 23%

Knowledge Component Learning Outcomes 2.1 Audit & Assurance 2.1.1 Evaluatetheclient’sbusinessandIdentifyrisksinvolvedwiththe

businessprocesses.2.1.2 Applyappropriatetechniquesofgatheringauditevidenceandperform

testofcontrolsandsubstantiveprocedures.2.1.3 EvaluatecompliancewiththeCompaniesActandotherregulatory

requirement.2.1.4 Design/evaluateinternalcontrolsofthebusiness.2.1.5 Communicatewithrelevantpartiesandassistingindraftingtheaudit

andrelatedreports.2.1.6 ApplyrelevantAuditingStandardsandrelatedstandardsinperforming

theprofessionalduties.2.1.7 Applyethicalprinciplesgoverningauditoffinancialstatements.

C. Taxation : Public Practice 5%, Non-Public Practice 5%

Knowledge Component Learning Outcomes 3.1 Taxation 3.1.1 Analyseincome,expenditureandotherrelevantinformationforthe

computationofIncomeTaxandotherindirecttaxliabilities.3.1.2 Computationofpersonal,partnershipandcorporatetaxliabilities.3.1.3 Applyknowledgeofmanagementaccountingandpractices,business

processandsystemsincarryingoutprofessionalduties.D. Management Accounting & Financial Management : Public Practice 9%, Non-Public Practice 14%

Knowledge Component Learning Outcomes 4.1 Management

Accounting4.1.1 Computethecostofaproductorserviceandpreparerelevantreports.4.1.2 Identifydirectcostsandallocatecostsamongproducts,divisionsand

StrategicBusinessUnits.4.1.3 Designbudgetsandplans,allocateresourcesandidentifyvariancesto

measureperformance.4.1.4 Improvetheknowledgeandunderstandingoforganisation,how

businessworksandprofessionalworkrelationships.


Knowledge Component Learning Outcomes 4.2 Financial Management

4.2.1 Evaluatefundsrequirements&differentsourcesoffundsavailableforanorganisation/businessunit.

4.2.2 Preparesorevaluatesthecashflow(actual)forecastforanentity/businessunit.

4.2.3 Analyseandevaluatetheorganisation’sinvestmentpolicyandinvestmentdecisions.

4.2.4 Computeandanalyseorganisation’s/businessunit’scurrentworkingcapitalrequirements.

4.2.5 Computeandanalysethedividendpolicyoftheorganisation/businessunits.E. Information Technology : Public Practice 9%, Non-Public Practice 9%

Knowledge Component Learning Outcomes 5.1 Information

Technology

5.1.1 Applycustomisedorstandardsaccountingpackages/ERP/presentationsoftwareetc.

5.1.2 Developandmaintaindatabases/spreadsheets/wordprocessingsystems.

5.1.3 Identifyinformationsecuritysystems.5.1.4 Applytheinterneteffectivelyasasourceofrelevantandreliable

information.5.1.5 Applyemergingtechnologiesinindustry.

F. General Management Practices : Public Practice 9%, Non-Public Practice 5%

Knowledge Component Learning Outcomes 6.1 General Management

Practice

6.1.1 IdentifyandanalyseHRManagementPractices.6.1.2 AnalyseMarketingstrategies/functionsofthebusiness.6.1.3 Improvetheknowledgeandunderstandingoforganisation,how

businessworksandprofessionalworkrelationships.6.2 Regulatory Practices 6.2.1 Identifyrequiredorfrequentlyusedrelevantformsfortheclient/

companyandfamiliarisewiththecontentsandduedatesforsubmission.6.2.2 IdentifytheCompaniesActrequirementsrelatingtoformstobe

submittedtoRegistrarofCompanies.


Detailed Curriculum

Corporate Level

Business Level II

Business Level I

Strategic Level

6.3 CORPORATELEVEL


Pillar : Audit Assurance and EthicsCourse Unit : Advanced Audit and AssuranceMain Curriculum Areas Weightage Notional hours

A. Governanceandinternalcontrolframeworks 10% 25

B. Auditplanningandriskassessment 15% 37

C. Gatheringauditevidence 25% 63

D. Auditinginadigitalenvironment 10% 25

E. Evaluatingevidenceandauditreporting 15% 37

F. Assuranceandrelatedservices 10% 25

G. Auditqualityandethics 15% 38

Total 100% 250


Detailed Curriculum

A. Governance and Internal Control Frameworks : 10%


1.1 Corporate Governance and Audit

1.1.1Discusstheneedforanauditoffinancialstatementsusingagencytheory.

Abilitytoconnectstewardship,accountabilityandagencyconflictwithaneedtoconductanindependentaudit.

1.2 Internal Control Framework

1.2.1Evaluatecomponentsofanintegratedinternalcontrolsystem.

COSO-2014-Internalcontrolsfivecomponentsand17principles.

1.2.2Analysedesign,implementationandoperatingeffectivenessofidentifiedcontrols.

SLAuS315.

1.2.3Outlinedeficienciesincontrolactivitiestobecommunicatedtothosechargedwithgovernance.

SLAuS265.

1.3 IT Risk and Controls 1.3.1DemonstratetheimportanceofITgeneralcontrolsandapplicationcontrolsinanauditoffinancialstatements.

ITgeneralcontrolsandapplicationcontrols.

B. Audit Planning and Risk Assessment : 15%


2.1 Terms of Engagement 2.1.1Explainpreconditionrequiredtoperformanauditoffinancialstatements.

SLAuS210.

2.2 Overall Audit Strategy 2.2.1Demonstratetheimportanceofoverallauditstrategyaspartofauditplanning. Includingnon-complexgroup

andSMEauditscenarioscoveringtherequirementsofSLAuS300,315,240and600).

2.3 Risk of Material misstatement

2.3.1 Assessriskofmaterialmisstatementsincludingriskoffraudstobefocusedduringtheauditusingriskassessmentprocedures.

2.4 Materiality 2.4.1Applytheconceptofmaterialityinplanningandperformingtheaudit.

2.5 Responding to risk of material misstatements

2.5.1Outlinesuitableoverallresponseandfurtherauditproceduresforidentifiedriskatfinancialstatementlevelandassertionlevel.

Includingnon-complexgroupandSMEauditscenarioscoveringtherequirementsofSLAuS330).

2.6 Complex issues 2.6.1Applyriskassessmentprocedurestoidentifyrisksrelatingtorelatedpartytransactions,goingconcernandaccountingestimatesincludingfairvalueandmeasurement.

RequirementsofSLAuS540,550and570inrelationtoriskassessment.



2.7 Using the work of others

2.7.1 Demonstratetheuseofexperts(bothmanagementandauditorsexperts),internalauditorsandserviceorganisationauditorsinanauditoffinancialstatements.

RequirementsunderSLAuS610,SLAuS620&SLAuS402).

2.8 Laws and regulations 2.8.1 ExplainauditorsrequirementsconsidercompliancewithLawsandRegulationsduringanauditoffinancialstatement.

Understandingthelegalandregulatoryframework,ProcedureswhenNon-ComplianceisidentifiedorsuspectedandreportingofIdentifiedorSuspectedNon-Compliance.

C. Gathering Audit Evidence : 25%


3.1 Test of details

3.1.1 Outlineauditprocedurestoaddressassertionlevelriskfornon-complexkeyaccountbalancesandclassesoftransactions.

Thisshouldcoverauditevidenceoverkeyaccountbalancesandclassesoftransactions.

3.1.2Applyspecificconsiderationsinobtainingsufficientappropriateauditevidencewithrespecttoinventory,litigationandclaimsinvolvingtheentity,andsegmentinformation.

SLAuS501.

3.2 External confirmation 3.2.1Applyprocedurestodesignandperformexternalconfirmationtoobtainrelevantandreliableauditevidence.

SLAuS505.

3.3 Opening balances and corresponding figures

3.3.1Discusstherequirementstobeconsideredbyanauditorinaninitialengagementandinrelationtocorrespondingfigures.

SLAuS510and710.

3.4 Selecting items for testing and the use of audit sampling

3.4.1Applydifferentmethodsofselectingitemsforaudittestingincludingauditsampling.

SLAuS530.

3.5 Analytical procedures 3.5.1Applyanalyticalproceduresassubstantiveproceduresandintheoverallreviewoffinancialstatements.

Recognisetheimportanceofanalyticalsoftwarewhichhastheabilitytoanalyse100%datatoidentifyoutliers.

3.6 Complex Account balances

3.6.1Designauditprocedurestoaddresscomplexitemsincludingaccountingestimates,fairvaluation,relatedpartytransactionsandgoingconcern.

SLAuS540,550,570.


Detailed Curriculum


3.7 Subsequent events 3.7.1 Outlineproceduresrequiredtodealwitheventsoccurringbetweenthedateofthefinancialstatementsandthedateoftheauditor’sreportandfactsthatbecomeknowntotheauditorafterthedateoftheauditor’sreport.

SLAuS560.

D. Auditing in a Digital Environment : 10%


4.1 Digital business environment

4.1.1 RecognisetrendsinadigitalbusinessenvironmentsincludingArtificialIntelligence(AI),RoboticProcessAutomation(RPA),Blockchain,digitalcurrenciesandtheirimpactsoninternalcontrolsandaudit.

ArtificialIntelligence(AI),RoboticProcessAutomation(RPA),Blockchain,digitalcurrencies.

4.1.2Recognisetheuseofbigdataandanalyticsasbusinessintelligencetoolsandpotentialriskassociatedwithbigdata.

Bigdataandanalytics.

4.2 Audit Automation 4.2.1Demonstratestheuseofcloudbasedauditworkingpapers,auditautomationtoolsandtheirlimitations.

Auditautomation.

4.3 Data Analytics 4.3.1DiscusstheuseofdataanalyticssoftwareincludingCAATsinplanningandgatheringauditevidence.

Dataanalytics.

4.4 Cyber Security 4.4.1Outlinecontrolsrequiredtomitigatecybersecurityrisk.

Cybersecurityrisk.

E. Evaluating Evidence and Audit Reporting : 15%


5.1 Audit Report

5.1.1Evaluatetheeffectsofmaterialmisstatementsonaudittheauditopinion.

SLAuS450.

5.1.2Evaluatetheeffectofmisstatementsinopeningbalancesandcorrespondingfiguresoncurrentyearauditopinion.

SLAuS510andSLAuS710.

5.2 Key Audit Matters

5.2.1ExplainmatterstobecommunicatedwiththosechargedwithGovernance.

SLAUS250.

5.2.2ApplyKeyAuditMatters(KAM)foragivenscenario.

SLAuS701.



5.3 Modified audit report 5.3.1Applymodifiedauditopinionsandgoingconcernreportingrequirementsforagivenscenario.

ReportingconsiderationsrelatingtoSLAuS705,701andSLAuS570.

5.4 Emphasis of matters and other matters

5.4.1Applyemphasisofmatterandothermatterforagivenscenarioofauditreporting.

SLAuS706.

5.5 Special Purpose Audit 5.5.1Applyspecialpurposeauditsincludingauditofsinglefinancialstatements/elementstoagivenscenario.

IncludesbothSLAuS800and805.

5.6 Other Information 5.6.1Explainauditor’sresponsibilitytowardsotherinformationincludedindocumentscontainingauditedfinancialstatements.

Fairunderstandingoftheauditor’sresponsibilitiesrelatingtootherinformationcontainedinanannualreport(SLAuS720).

5.7 Review Engagements 5.7.1Explainproceduresrequiredinconductingreviewengagements.

Fairunderstandingofapplicationofreviewengagementandthattheproceduresusedinareviewengagementislimitedcomparedtoanauditoffinancialstatements(SLSRE2400,SLSRE2410).

F. Assurance and Related Services : 10%

Knowledge Component Learning Outcomes Specific Knowledge 6.1 Assurance Framework 6.1.1Applyframeworkforassurance

engagementsinidentifyingandacceptingassuranceengagements.

Understandingofthedefinition,elements,scopeofandpreconditionsforanassuranceengagement.

6.2 Assurance Engagements

6.2.1ApplySriLankaStandardonAssuranceEngagementtogetherwithsubjectmatterspecificassurancestandardstoprovidereasonableorlimitedassuranceasrequiredintheengagementcircumstances.

FairknowledgeaboutapplicationofSLSAE3000forgeneralsubjectmattersandsubjectmatterspecificassurancestandardsincludingprospectivefinancialstatements.

6.3 Related Services 6.3.1ApplySriLankaStandardonRelatedServicesrelatingtoagreeduponproceduresandcompilationasrequiredbyengagementcircumstances.

FairunderstandingoftheSLSRE4400&SLSRE4410.

6.4 Reporting 6.4.1OutlinekeyelementsofAssuranceReportsusedinassuranceandrelatedservices.


Detailed Curriculum

G. Audit Quality and Ethics : 15%


7.1 Framework for Audit Quality

7.1.1Demonstratetheelementsoftheframeworkforauditquality.

Understandingofthedefinitionandelementsofthequalityframework.

7.2 System of Quality Controls

7.2.1Demonstratetheelementsofasystemofqualitycontrolsofthefirm.

FairunderstandingoftheimportanceofelementsofqualitycontrolsofthefirmbasedonSLQC1.

7.3 Audit Quality 7.3.1Explaintherequirementstoimplementqualitycontrolproceduresattheauditengagementlevelincludingtheengagementqualitycontrolreview.

FairunderstandingoftheimportanceofelementsofqualitycontrolsofthefirmbasedonSLAuS220.

7.4 Threats to compliance with fundamental and ethical principles

7.4.1AnalysethreatsapplicabletoProfessionalAccountantsinPublicPracticeincomplyingwithfundamentalandethicalprinciple.

PartBofCodeofEthics(Section200to270).

7.5 Auditors Independence 7.5.1Applyconceptualframeworkapproachtoanalysethreatsrelatingtoauditorsindependence

FairunderstandingoftheimportanceofauditorsindependenceincludingthescopeofapplicabilityandspecificissuesdealtinSection290-100to148).

7.5.2EvaluatethreatsassociatedwithprovisionofNonAssuranceServiceandmethodsofmitigatingsuchthreats.

ThreatsassociatedwithprovisionofNonAssuranceServiceandmethodsofmitigatingsuchthreats.

7.5.3ApplyconceptualframeworkapproachtoevaluatespecificNonAssuranceServices.

(Section290-164-to219).


Pillar : Financial Accounting & Reporting Course Unit : Financial Reporting and GovernanceMain Curriculum Areas Weightage Notional hours

A. Regulatoryframeworkforfinancialreporting 10% 25

B. Srilankaaccountingstandards(SLFRS/LKAS/IFRIC/SIC) 50% 125

C. Preparationoffinancialstatements 20% 50

D. Financialstatementanalysisandnon-financialreporting 10% 25

E. Financialreportinggovernance&ethics 10% 25

Total 100% 250


Detailed Curriculum

A. Regulatory Framework for Financial Reporting : 10%

Knowledge Component Learning Outcomes Specific Knowledge 1.1 Regulatory framework and

the Need of regulating the process of financial reporting

1.1.1DemonstrateanawarenessofProvisionsinCorporategovernance,CompaniesAct,SECregulationsandrulingsthataffectsforFinancialreporting.

Structureoftheaccountancyprofession.

Regulationsapplicabletotheaccountingprofessionandfinancialserviceindustry.

CompaniesAct(sections56,69,148to171and192)andSECregulationsandrulingsthataffectsFinancialreporting

Structureoftheaccountancyprofession

Regulationsapplicabletotheaccountingprofessionandfinancialserviceindustry.1.1.2Demonstrateanawarenessof

regulationsapplicabletofinancialreportingprocess.

1.2 The process of setting standards

1.2.1DemonstratetherelationshipbetweentheInternationalAccountingStandardsBoard(IASB)andthelocalgoverningbodyresponsibleforestablishingnationalstandards,withrespecttothestandard-settingprocess.

InternationalAccountingStandardsettingprocessSriLankaAccountingStandardsettingprocess.

1.2.2Demonstratetheawarenessof,ProcessofsettingstandardsunderSriLankaAccountingStandards(SLFRSandLKAS)andInternationalFinancialReportingStandards(IFRSandIAS).

LinkbetweenIASB,FASB,CASriLanka,IAS,IFRS,LKAS,SLFRS,IFRIC,IRCandstandardsettingprocess.

B. Sri Lanka Accounting Standards (SLFRS/LKAS/IFRIC/SIC) : 50%

Knowledge Component Learning Outcomes Specific Knowledge 2.1 Accounting Standards

setting process, international practices, FASB and IFA Announcements, GAAps, LEVEL A : Thoroughknowledgeandcomprehensionofthestandardtoidentifysignificantcomplicatedissues

2.1.1AdviseontheapplicationofSriLankaAccountingStandardsinsolvingcomplicatedmatter.

ReferAnnexure01.



andanypotentialimplicationstofinancialstatements,andtoexerciseprofessionaljudgmentintheevaluationandapplicationofstandardsinresolvingacomplicatedmatterrelatedtofinancialreporting.

2.1.2RecommendappropriateaccountingtreatmenttobeusedincomplicatedcircumstancesinconformitywithSriLankaAccountingStandards.

ReferAnnexure01.

2.1.3Evaluatetheimpactofapplicationofdifferentaccountingtreatments.

2.1.4Proposeappropriateaccountingpoliciestobeselectedindifferentcircumstances.

2.1.5Evaluatetheimpactoftheuseofdifferentexpertinputstofinancialreporting.

2.1.6Adviseonappropriateapplicationandselectionofaccounting/reportingoptionsgivenunderstandards.

2.1.7Recommendappropriatedisclosurestobemadeinthefinancialstatementsinunstructuredandmultifacetedsituations.

2.2 LEVEL B : Goodknowledgeandcomprehensionofthe standardtoidentifymoderatelycomplicatedissuesandanypotentialimplicationstothefinancialstatements,andtoexercise

professionaljudgmentintheanalysisandapplicationofstandardsinresolvingamoderatelycomplicatedmatterrelatedtofinancialreporting

2.2.1ApplySriLankaAccountingStandardsinsolvingmoderatelycomplicatedmatters.

2.2.2DemonstrateathoroughknowledgeofSriLankaAccountingstandardsintheselectionandapplicationofaccountingpolicies.

2.2.3ApplyprofessionaljudgmentinrecommendingtheappropriateaccountingtreatmenttobeusedincomplicatedcircumstancesinaccordancewithSriLankaAccountingStandards.

2.2.4Demonstrateappropriateapplicationandselectionofaccounting/reportingoptionsgivenunderstandards.

2.2.5Recommendthedisclosurestobemadeinthefinancialstatements.


Detailed Curriculum


2.3 LEVEL C: Conceptualknowledgeandunderstandingofthestandardtoidentifysimpleissues,toexercisereasonableprofessionaljudgmentintheapplicationofstandardsinresolvingasimple(straightforward)matterrelatedtofinancialreporting.

2.3.1Explaintheconcepts/principalsofSriLankaAccountingStandards.

ReferAnnexure01.

2.3.2Applytheconcepts/principalsofthestandardstoresolveasimple/straightforwardmatter.

2.3.3Identifythedisclosurestobemadeinthefinancialstatements.

2.3.4Demonstrateathoroughunderstandingofconceptsandstandardsrelatedtopreparationoflimitedliabilitycompanyaccounts.

C. Preparation of Financial Statements : 20%Knowledge Component Learning Outcomes Specific Knowledge

3.1 Financial Reporting of a limited liability company

3.1.1Preparefinancialstatementsofalimitedliabilitycompany.

Financialstatementsofalimitedliabilitycompany.

3.1.2Applyrelevantaccountingstandardswhenpreparingfinancialstatements.

Relevantaccountingstandardswhenpreparingfinancialstatements.

3.1.3Recommendthedisclosurestobemadeinthefinancialstatementsoflimitedliabilitycompany.

Recommendthedisclosurestobemadeinthefinancialstatementsoflimitedliabilitycompany.

3.2 Consolidated financial statements (Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income Statement)

3.2.1Demonstratetheunderstandingoftheconceptsandstandardsrelatedtoconsolidation,associatesandjointventure.

Consolidatedfinancialstatementsinvolvingoneortwosubsidiaries,associatesandjointventure.3.2.2Prepareconsolidatedfinancial

statementsinvolvingoneortwosubsidiaries.

3.2.3PrepareconsolidatedfinancialstatementsinvolvingAssociates.

ConsolidatedfinancialstatementsinvolvingAssociates.

3.2.4Applyrelevantaccountingstandardswhenpreparingconsolidatedfinancialstatements.

Relevantaccountingstandardswhenpreparingconsolidatedfinancialstatements.

3.2.5Recommendthedisclosurestobemadeintheconsolidatedfinancialstatements.

Disclosurestobemadeintheconsolidatedfinancialstatements.



3.2.6Applyprofessionaljudgmentincomplicatedcircumstancesrelatedtoconsolidationandrecommendtheappropriateaccountingtreatment.

Professionaljudgmentincomplicatedcircumstancesrelatedtoconsolidationandrecommendtheappropriateaccountingtreatment.

D. Financial Statement Analysis and Non-financial Reporting : 10%Knowledge Component Learning Outcomes Specific Knowledge

4.1 Financial statement analysis 4.1.1Demonstrateathoroughunderstandingofdifferenttechniquesavailabletoanalysefinancialstatements.

Differenttechniquesavailabletoanalysefinancialstatements.

4.1.2Demonstrateathoroughknowledgeofthelimitationsoffinancialstatementanalysistechniques.

Limitationsoffinancialstatementanalysistechniques.

4.1.3Interpretrelevantfinancialratios,includingprofitabilityratios,liquidityratios,efficiencyratios,andgearing,solvencyratiosandotherrelevantrations.

Relevantfinancialratios,includingprofitabilityratios,liquidityratios,efficiencyratios,andgearing,solvencyratiosandotherrelevantrations.

4.1.4Adviseontheinterpretationofanentity’sfinancialstatementsfordifferentstakeholders.

Interpretationofanentity’sfinancialstatementsfordifferentstakeholders.

4.1.5Applyreasoning,criticalanalysis,andinnovativethinkingtosolvebusinessproblems.

Reasoning,criticalanalysis,andinnovativethinkingtosolvebusinessproblems.

E. Financial Reporting Governance & Ethics : 10%


5.1 Basic understanding of FR Governance and Ethics

5.1.1DemonstratetheunderstandingofprofessionalresponsibilitiesofanAccountantincludingcorporategovernance.

ProfessionalresponsibilitiesofanAccountantincludingcorporategovernance.

5.1.2Explaintheimportanceofethicsandprofessionaljudgment.

Importanceofethicsandprofessionaljudgment.

5.1.3Ascertainvariouscomplianceandregulatoryregimes.

Variouscomplianceandregulatoryregimes.

5.1.4Demonstratetheunderstandingofthenature,roleandimportanceofcorporatesocialresponsibility,includingclimatechange.

Nature,roleandimportanceofcorporatesocialresponsibility,includingclimatechange.


Detailed Curriculum


5.1.5Demonstratebasicunderstandingofprofessionalaccountantcommitmenttopublicinterest.

Commitmentofprofessionalaccountanttopublicinterest.

5.1.6Demonstrateawarenessofgoodunderstandingofsustainabilityreporting.

Sustainabilityreporting.

5.1.7DemonstrateawarenessofgoodunderstandingofIntegratedreporting.

Integratedreporting.

Annexure01SriLankaAccountingStandards

No. Name LevelSLFRS1 First-timeadoptionofSriLankaAccountingstandards -SLFRS4 InsuranceContracts -SLFRS6 ExplorationforandevaluationofMineralResources -LKAS26 AccountingandReportingbyRetirementBenefitPlans -LKAS29 FinancialReportinginHyperinflationaryEconomies -LKAS1 PresentationofFinancialStatements ALKAS2 Inventories ALKAS7 StatementofCashFlows ALKAS8 AccountingPolicies,ChangesinAccountingEstimatesandErrors ALKAS10 EventsafterthereportingPeriod ALKAS16 Property,PlantandEquipment ALKAS18 Revenue ALKAS37 Provisions,ContingentLiabilitiesandContingentAssets ASLFRSforSmallerEntities SriLankaAccountingStandardforSmallerEntities ASLFRS3 BusinessCombinations BSLFRS5 Non-Currentassetsheldforsaleanddiscontinuedoperations BSLFRS9 FinancialInstruments BSLFRS10 ConsolidatedFinancialStatements BSLFRS11 JointArrangements BSLFRS12 DisclosureofInterestsinotherentities BSLFRS13 FairValueMeasurement BSLFRS15 RevenuefromContractswithCustomers BLKAS11 ConstructionContracts BLKAS12 IncomeTaxes BLKAS17 Leases BLKAS19 EmployeeBenefits B


No. Name LevelLKAS20 AccountingforGovernmentGrantsandDisclosureofGovernment

AssistanceB

LKAS21 TheEffectsofChangesinForeignExchangeRates BLKAS23 BorrowingCosts BLKAS24 RelatedPartyDisclosures BLKAS27 SeparateFinancialStatements BLKAS28 InvestmentsinAssociatesandJointVentures BLKAS32 FinancialInstruments:Presentation BLKAS33 EarningsperShare BLKAS36 ImpairmentofAssets BLKAS38 IntangibleAssets BLKAS39 FinancialInstruments:RecognitionandMeasurement BLKAS40 InvestmentProperty BLKAS41 Agriculture BSLFRSforSMEs SriLankaAccountingStandardforsmallandMediumsizedentities BSLFRS2 Share-basedPayment CSLFRS7 FinancialInstruments:disclosures CSLFRS8 OperatingSegments CSLFRS16 Leases CLKAS34 InterimFinancialReporting CSLFRS14 RegulatoryDeferralAccounts N/A


Detailed Curriculum

Pillar : Performance Measurement and RiskCourse Unit : Advanced Management AccountingMain Curriculum Areas Weightage Notional hours

A. Costmanagement 20% 50

B. Planning&controlling 25% 63

C. Decisionmaking 30% 75

D. Risk&uncertainty 15% 37

E. Workingcapitalmanagement 10% 25

Total 100% 250


A. Cost Management : 20%Knowledge Component Learning Outcomes Specific Knowledge1.1 Modern

Manufacturing Environment

1.1.1Identifythedriversofchangeinthemodernmanufacturingenvironment

Changesinthemodernmanufacturingenvironment

1.1.2DiscusstheconceptofJust-in-timeandtheimpactofJust-in-timeinamodernorganisation

• JustintimevsJustincase• Philosophyofjustintime• AdvantageanddisadvantagesofJustintime

1.1.3DiscusstheimportanceofQualityCostingasapartofTotalQualitymanagement

PrinciplesofTotalQualityManagementandthesupportingconceptssuchasLeanManufacturing,SixSigma,Kaizan

1.1.4Applythroughputaccountingprinciplesforprofitreportingandinventoryvaluation

Theoryofconstraints&ThroughputAccounting

ClassificationofQualitycostsintopreventioncosts,appraisalcosts,internalfailurecostsandexternalfailurecosts

Computethe“OptimumProductMix”whentherearebottleneckresources

1.1.5DiscusstheprosandconsofBackflushcosting

BackflushCosting

1.1.6 Discusstheevolutionofresourceplanningandmanagementsystems

EvolutionofSystems(MRPI,MRPII,ERPI,ERPII)

1.2 Activity Based Costing

1.2.1DiscusstheemergenceofActivityBasedCosting(ABC)system.

EmergenceofABCinModernEnvironment.

1.2.2DiscusstheprosandconsofABCsystemwithtraditionalmarginalandabsorptioncostingsystems.

ProductandservicecostingusingABC.

AdvantagesanddisadvantagesofABCsystemcomparedagainsttraditionalcostingsystems.

1.2.3ReviewstagesindesigningABCsystem&Activityhierarchy.

Designingprocessandpracticallimitationsforimplementations.

1.2.4ApplyTime-DrivenABCmethod. Time-DrivenABCMethodasasolutionforlimitationsintraditionalABCsystem.

1.2.5 DiscusstheuseofABCsystemasresourceconsumptionmodel.

Costsofresourcessupplied,Costsofresourcesusedandcostofunusedcapacity.

1.2.6EvaluatetheimportanceofActivityBasedManagement.

ActivityBasedManagement.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge1.3 Strategic Cost

Management & Value Creation

1.3.1Discussthevaluecreationprocessesinorganisationtoenhancelongtermprofits.

• ValueChainAnalysis,• BasicsofSupplyChainManagement

• Targetcostingapproachandlimitations

• LifeCycleCostinganditsimplicationsformarketingstrategies

• BusinessProcessRe-engineeringandeliminationonnonvalueaddingactivitiesandreductionofactivitycosts

1.3.2AnalyseDirectCustomerprofitabilityandDistributionChannelProfitability

Customer&ChannelProfitabilityanalysis.

1.3.3ApplyLearningCurvestoestimatetimeandcostforactivities,productsandservices

LearningCurve&itsuseinpredictingproduct/servicecosts,includingderivationofthelearningrateandlearningindex

1.4 Environmental aspects of Cost Management

1.4.1DifferentiateconventionalManagementAccountingfromEnvironmentalManagementAccounting(EMA).

DefinitionsofEnvironmentalcosts(Usingqualitycostingframework)andbenefits.

ImplicationsofEMAtoproductpricing,budgeting,decisionmakingetc.

Difficultiesinmeasuringenvironmentalcostsandtheirimpactonexternalenvironment.

1.4.2DiscussdifferentframeworksdevelopedforEMA.

PopularContemporaryFrameworksdevelopedbyresearchers.

1.4.3Applydifferenttechniques/toolsusedtoidentifyenvironmentalimpactofanorganisation.

Tools/methodsforidentificationsuchasinput/outputanalysis,Processflowcharts,EnvironmentalActivityBasedCosting.

B. Planning & Controlling : 25%Knowledge Component Learning Outcomes Specific Knowledge 2.1 Standard Costing &

Variance Analysis2.1.1Computebasicvariancesunder

AbsorptionCosting&MarginalCostingsystems.

BasicvariancesunderAbsorptionCosting&MarginalCosting:• Material/Labour/VariableOverhead(Rate&Efficiency)

• FixedOverhead-Expenditure&Volume(SplitofCapacity&Efficiency)

• Sales:Price&SalesVolume(Contribution/Profit).

2.1.2Preparevarianceaccounts. Accountingforvariancesintheintegratedaccountingsystem.


Knowledge Component Learning Outcomes Specific Knowledge2.1.3Interpretperformancedifferences

andinter-relationshipsbetweenvariances.

InterpretationofVariancesInterrelationshipbetweenvariances

2.1.4Analysetheusage/efficiency/volumevariancesbysubdividingthetotalintomix&yield/quantityvariances.

SplitmaterialusageandlabourefficiencyvariancesintoMix&Yieldvariances.

Splitsalesvolume(contribution/profit)varianceintosalesmix&salesquantityvariances,Planning&OperationalVariances

2.1.5Analysethevariancesintoplanningandoperationalvarianceswhenstandardsarerevised.

Planningandoperationalvariancesanditspurpose.

2.1.6Prepareastatementthatreconcilesbudgetedprofitwiththeactualprofitcalculatedusingabsorptioncosting/marginalcosting.

Theuseofvariancestoreconcilethebudgetedandactualprofitsthathavebeencalculatedusingabsorption/marginalcosting.

2.1.7Discusstheimportanceofinvestigatingvariances.

VarianceInvestigation-Factors&Tools,PercentageVariance.

2.1.8Evaluatetheapplicabilityofstandardcostinginmodernbusinessenvironment.

AdvantagesofStandardCosting,DisadvantagesofStandardCosting/CriticismsinModernEnvironment.

StandardisationinaServiceEnvironment

ApplicabilityofBenchmarkingvsStandardCosting

2.2 Capacity Planning

2.2.1Evaluatedifferentmeasuresofcapacityandutilisation.

MeasuringDesigncapacity,EffectiveCapacity,Utilisation&efficiency.

2.2.2Discussdemandmanagementstrategies.

Whendemandexceedscapacity,whencapacityexceedsdemand,seasonaldemand.

2.2.3Applyshort-termcapacitymodifyingstrategies.

Changinginventorylevels,varyingworkforce,overtimeoridletime,subcontracting.

2.2.4Applylong-termcapacityplanningoptionsandevaluationtools.

Leadingdemand(incrementalexpansion,one-stepexpansion),Capacitylagswithdemand(incrementalexpansion),averagecapacitywithincrementalexpansion,EvaluationtoolsincludingNPV,ROI&Decisionstrees(illustrationsonly).


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 2.3 Budgeting 2.3.1Explainthepurposesofbudgeting

andtheirconflicts.Purposesofbudgeting(Planning,Controlling,coordination&communication,motivation,authorisationandperformanceevaluation)&theirconflicts.

2.3.2 Discussthealternativeapproachestobudgeting.

AlternativeApproachestoBudgeting:• TopDownvsBottomUp(ParticipativeBudgeting)

• IncrementalvsZeroBased• PeriodicvsRolling• ActivityBasedBudgeting

2.3.2Discusstherelevanceofnon-financialindicatorsinperformancemeasurement.

BalanceScorecard

2.3.4Outlinebehaviouralissuesinbudgeting.

BehavioralIssuesinBudgeting.

2.3.5Differentiatetraditionalbudgetingfrombeyondbudgeting.

BeyondBudgetinganditsapplicationtoprivateandpublicentities.

ArgumentsforandagainstBeyondBudgeting

2.3.6Discusshowbusinessanalyticssupplementtraditionalbudgetingandplanningwithforecastsandpredictions.

Statisticalmodellingandbigdataminingforforecastingandbudgeting.

2.4 Performance Measurement: Responsibility Centres

2.4.1Evaluatetheperformanceofthedivisionsofadecentralisedorganisation.

ResponsibilityCentres;Revenue,cost,profitandinvestmentcenters&PerformanceMetrics(Profitability,Liquidity&AssetManagementratios,ReturnonInvestment,ResidualIncome,EconomicValueAddedetc.)

2.4.2Discussthebehavioralimplicationsofdivisionalperformancemeasures.

BehavioralconsequencesofResponsibilityCentrePerformanceManagement.

2.5 Perfomance Measurement : Transfer pricing

2.5.1Discusstransferpricingmethods. Thetheoryoftransferpricing,includingperfect,imperfectandnomarketforintermediategood.

Transferpricingmethods;Maximumandminimumprice,Costbasedtransferpricing,marketbasedtransferpricing,negotiatedpricing,dualpricingandlumpsumpaymentsasmeansofaddressingsomeissues.

2.5.2Evaluatethebehaviouraleffectsoftransferpricing.

EffectsofTransferPricing(Motivation,AutonomyofIndividualDivisions,SubOptimalDecisions;Divisionalandgroupprofitability).


C. Decision Making : 30%Knowledge Component Learning Outcomes Specific Knowledge 3.1 Optimising with

multiple limiting factors

3.1.1Applygraphicalmethodforoptimisingwithmultiplelimitingfactors.

Profitmaximisationorcostminimisationproblemswithgraphicalapproach,Constraints&shadowprice.

3.1.2Formulatetheinitiallinerprogrammingmodelusingsimplexmethodandinterpretthefinallinearprogrammingmodel.

LinearProgrammingwithsimplexmethod(onlyinitialmodeldevelopmentandinterpretingthefinalsolution).

3.2 Relevant Costing for Short-term decisions

3.2.1Applyrelevantcostconceptforshort-termdecisionmaking.

• MakeorBuyDecisions• ShutdownDecisions• SpecialPricingDecisions• FurtherProcessingDecisions

3.3 Long-term Decision Making; Advanced Investment Appraisal

3.3.1Evaluateprojectswithtaximplications.

Incorporatingtaxintothediscountrateandcashflows.

3.3.2Applymonetarymethodandrealmethodtoincorporatetheimpactofinflationinprojectappraisals.

Inflation;MonetarymethodandRealmethod

3.3.3Evaluateprojectswithunequallifecyclessuchasassetsreplacements.

Unequallife(Annualequivalentmethod,Leastcommonmultiplemethod),

Assetsreplacementdecisions3.3.4Evaluateprojectswithacapital

rationingsituation.Prioritisationofprojectssubjecttosingleperiodcapitalrationingusing;• ProfitabilityIndexfordivisibleprojects

• CombinedNPVmethodforindivisibleprojects

3.3.5Discussthestrengths&weaknessesofInvestmentAppraisaltechniques.

Strengthsandweaknessesofaccountingrateofreturn,payback,netpresentvalue,internalrateofreturn.

ModifiedIRRasasolutionfordrawbacksofIRR(ConceptofTerminalValue).

3.3.6Assessnon-financialfactorsforprojectsevaluation.

Environmental,socialandpoliticalaspectsofprojects.

3.3.7Reviewproject’sresultsthroughpostcompletionaudit.

Postcompletionaudit.

Projectabandonmentdecisions.3.3.8DiscussPublic/Socialproject

evaluationtechniques(Conceptsonly.Nocalculationsexpected).

EconomicNetPresentValue(ENPV),EconomicInternalRateofReturn(EIRR),ShadowPricingofEconomicCostsandBenefits,SocialCosts&Benefits.

3.4 Pricing Decisions 3.4.1ApplymarginalapproachtoarriveatOptimumsellingprice&quantity.

Optimumsellingprice&quantityforfirmsinperfectcompetition,Oligopoly,Monopoly&Monopolisticcompetition.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge3.4.2ApplyPriceElasticityofdemandfor

pricing.ApplicationofPriceElasticityofDemandforperfect/imperfectcompetition.

3.4.3 DiscussdifferentMarketbasedpricingstrategiesandtheirconsequences.

MarketPenetration,MarketSkimming,,PremiumPricing,LossLeader,Bundling,Productdifferentiation,PriceDiscrimination.

3.5 Big data for Decision Making

3.5.1Discusstheimplicationsofbigdataforoperational&strategicdecisionmaking.

Businessanalyticsfordatadrivendecisionsatoperationalandstrategicdecisionmaking.

3.5.2Evaluatethebenefits&costsofbigdataforanorganisation.

Benefits&costsofbigdata.

D. Risk & Uncertainty : 15% Knowledge Component Learning Outcomes Specific Knowledge4.1 Decision Tree 4.1.1ApplyprobabilityinDecisionTrees

formultistagedecisionproblems.• DecisionTree• Valueofperfectandimperfectinformation

4.2 Investment Appraisal with Risk

4.2.1Evaluateprojectsunderriskconsiderations.

RiskAdjustment;CertaintyEquivalent,RiskAdjustedDiscountRate.

4.2.2Reviewresultsofappraisalwithsensitivityanalysis.

Sensitivityanalysisinprojectappraisals.

4.2.3DrawconclusionswithMonte-CarloSimulation.

Monte-CarloSimulation.

4.2.4Discussdownsiderisksinprojects. DownsideRisks(ValueatRisk)inProjects.

4.3 Risk Management

4.3.1Reviewtheriskmanagementprocessofanorganisation.

OverviewofRiskManagementprocess.

4.3.2ApplyTARAframeworkforagivenscenario.

TARAframework(Transfer,Avoidance,Reduction&AcceptanceofRisks).

E. Working Capital Management : 10% Knowledge Component Learning Outcomes Specific Knowledge5.1 Managing Working

Capital5.1.1 Illustratetheconceptsrelatingto

workingCapitalManagement.GrossWorkingCapital,NetWorkingCapital,WorkingCapitalManagement,WorkingCapitalPolicy.

5.1.2 DiscussWorkingCapitalinvestmentandfinancingpolicies.

Workingcapitalinvestment&financingpolicies:Conservative,Moderate&Aggressive.

5.1.3 Analysetheimpactofworkingcapitalcycletoafirmoperatingintrading/manufacturing/servicesectors.

WorkingCapitalCyclewithkeyRatios,StrategiesforImprovement,Overtrading.


Knowledge Component Learning Outcomes Specific Knowledge5.2 Receivables

& Payable Management

5.2.1 Recommendthestrategiesformanagingreceivables&payables.

Receivable&payablemanagementstrategies;• CreditControl:CreditPolicy,Collectionprocess,AgeAnalysis

• SettlementDiscounts• FactoringofReceivables• PaymentMethods

5.3 Inventory Management

5.3.1EvaluatetheimpacttotheEconomicOrderQuantitywhendiscountsareavailable.

EOQcalculationwithquantitydiscounts.

5.3.2DiscusstheuseofABCclassification,JITarrangementsforinventoryManagement.

ABCClassificationforInventoryManagement,CostofStocks&JITarrangements.

5.4 Cash/Treasury Management

5.4.1Discusstheimportanceofcashmanagement.

Motivestoholdcash,ConceptofFloat,Cashflowsynchronisation.

5.4.2Evaluateshort-termsourcesoffinances.

SourcesofShort-termFinancing,Import/ExportFinancing.

5.4.3Evaluateshort-terminvestmentstrategies.

Short-termInvestments:Active&PassiveInvestmentstrategies.Criteria(Maturity,Risk,Return,Liquidity,Diversity).TypesofInstruments.Treasurybill&BondPricing.


Detailed Curriculum

Pillar : Taxation and Law Course Unit : Corporate LawMain Curriculum Areas Weightage Notional hours

A. Featuresofacompany&corporatepersonality 10% 25

B. Incorporationofacompany 10% 25

C. Equityanddebtcapital 10% 25

D. Directors,companysecretary,auditors 10% 25

E. Meetings,resolutionsandcompanyrecords 10% 25

F. Windingup 10% 25

G. Minorityrights 10% 25

H. Companiesotherthanprivatelimitedcompanies 10% 25

I. ListingacompanyintheColomboStockExchange 10% 25

J. OtherLawsadjacenttoCorporateLaw 10% 25

Total 100% 250


A. Features of a Company & Corporate personality : 10%

Knowledge Component Learning Outcome Specific Knowledge1.1 Law governing

Companies in Sri Lanka

1.1.1 IdentifythelawgoverningcompaniesinSriLanka.

LawgoverningcompaniesinSriLanka.

1.1.2 ExplainthegeneralfeaturesofacompanyregisteredundertheCompanies’Act(includingnewfeatures).

GeneralfeaturesofacompanyregisteredundertheCompanies’Act(includingnewfeatures).

1.2 Definition of a company, Characteristics of a company

1.2.1 Definethetermcompany. Definitionofacompany.

1.2.2 Explainthecharacteristicsofacompany.

Characteristicsofacompany.

1.2.3 Explaintheadvantagesanddisadvantagesofincorporation.

Advantagesanddisadvantagesofincorporation.

1.3 The concept of corporate personality

1.3.1.Explaintheconceptofcorporatepersonalityanditslegalconsequences.

Conceptofcorporatepersonalityanditslegalconsequences.

1.3.2 Explaininstanceswheretheconceptofcorporatepersonalityisapplied,withrelevantcases.

Instanceswhereconceptofcorporatepersonalityisapplied,withrelevantcases.

1.3.3 Explaintheconceptofveilofincorporation.

Veilofincorporation.

1.3.4 Explainthesituationswheretheveilofincorporationcanbelifted,withrelevantcases.

Situationswheretheveilofincorporationcanbelifted,withrelevantcases.

B. Incorporation of a Company : 10%

Knowledge Component Learning Outcome Specific Knowledge

2.1 Types of companies

2.1.1 Explainthedifferenttypesofcompanies'recognisedundertheCompaniesAct.

DifferencebetweenthedifferenttypesofcompaniesrecognisedundertheCompaniesActincludingforeigncompaniesdoingbusinessinSriLankaandlistedcompanies.

2.2 Incorporation of a company

2.2.1 Explaintheprocessinvolvedforregistration(incorporation)ofacompany.

Processinvolvedforregistration(incorporation)ofacompany.

2.2.2 Explaintheprocessandrestrictioninselectinganame.

Processandrestrictioninselectinganame.

2.2.3 StatethetypesofFormstobesubmittedtotheROCandtheircontents.

FormstobesubmittedtotheROCandtheircontents.

2.2.4 Explainthedocumentationinvolvedforregistrationofacompany(public&private).

Documentationinvolvedforregistrationofacompany(public&private).

2.2.5 Explaintheprocessofchanginganameofanexistingcompany.


Detailed Curriculum


2.3 Promoters 2.3.1 Explaintherightsanddutiesofpromotersincludingliabilityforpre-incorporationcontractswithrelevantcases.

Rightsanddutiesofpromotersincludingliabilityforpre-incorporationcontractswithrelevantcases.

2.3.2 Explainremediesforbreachofdutiesbypromoters.

Remediesofbreachofduties.

2.3.3 Discusspaymentstopromoters. Paymentstopromoters.

2.4 Articles of Association

2.4.1 Explainthecontents,amendmentstotheAA.

Contents,amendmentstotheAA.

2.4.2 Explainthenature,purposeandlegalconsequencesoftheArticlesofAssociation.

Nature,purposeandlegalconsequencesoftheArticlesofAssociation.

2.5 Company contracts

2.5.1 Explainpre-incorporationcontracts,impliedwarranteesandratification.

Pre-incorporationcontracts,impliedwarranteesandratification.

2.5.2 Explainmethodofcontractingandauthorityofdirectors,officers&agents.

Methodofcontractingandauthorityofdirectors,officers&agents.

2.5.3 Explaintheindoormanagementruleandthedoctrineofconstructivenotice.

Indoormanagementruleandthedoctrineofconstructivenotice.

C. Equity and Debt capital : 10%


3.1 Types of shares, allotment and issue of shares

3.1.1 Explainthetypesofshareswithreferencetostatedcapitalregime,classification,risk,variationofclassrights,distributions/dividends,votingrights,priorityinawindingup.

Typesofshareswithreferencetostatedcapitalregime,classification,risk,variationofclassrights,distributions/dividends,votingrights,priorityinawindingup.

3.1.2 Explain&contrasttheproceduresfortheissueofshares,includinginitialbonusandrightsissuesandprospectus.

Proceduresfortheissueofshares,includinginitialbonusandrightsissuesandprospectus.

3.2 Distributions & Dividends

3.2.1 Explaintheprocedureforpaymentofdividends.

Procedureforpaymentofdividends.

3.2.2 ExplaintheSolvencyTest&thecapitalmaintenancemechanisms.

SolvencyTest&thecapitalmaintenancemechanisms.

3.3 Major types of share dealings in a company

3.3.1 Explainthefollowingprinciplesinrelationtocapitalmaintenanceinacompany(redemption,reductionofcapital,financialassistance,sharebuy-back,minoritybuy-out).

Principlesinrelationtocapitalmaintenanceinacompany(redemption,reductionofcapital,financialassistance,sharebuy-back,minoritybuy-out).



3.4 Debt capital 3.4.1 Explainthefollowingprinciplesinrelationtolong-termdebtcapital(classification,risk,interestpayments,rights,priorityinawindingup).

Principlesinrelationtolong-termdebtcapital(classification,risk,interestpayments,rights,priorityinawindingup).

3.5 Rights of shareholders and debenture holders

3.5.1 Statetherightsavailableforshareholders&debentureholders.

Statetherightsavailableforshareholders&debentureholders.

D. Directors, Company Secretary, Auditors : 10%

Knowledge Component Learning Outcome Specific Knowledge4.1 Role of Directors 4.1.1. Explainthefollowinginrelationtothe

directorsofacompany:(appointment,retirementandremoval,powers,dutiesanddisqualification).

Directorsofacompany:(appointment,retirementandremoval,powers,dutiesanddisqualification).

4.1.2.Explainthedivisionofpowerbetweendirectorsandmembers.

Divisionofpowerbetweendirectorsandmembers.

4.2 Role of Secretary 4.2.1. StatetheroleofaCompanySecretaryalongwith‘Panoramacase’.

RoleofaCompanySecretaryalongwith‘Panoramacase’.

ProcessofappointmentoftheCompanySecretaryandrelevantqualifications.

4.2.2. ExplaintheprocessofappointmentofthecompanySecretaryandrelevantqualifications.

ProcessofappointmentofSecretaryandrelevantqualifications.

4.3 Role of Auditor 4.3.1 AppointmentandremovaloftheAuditoraspertheCompanies’Act.

AppointmentandremovaloftheAuditoraspertheCompanies’Act.

E. Meetings, Resolutions and Company Records : 10%


5.1 Different types of meetings

5.1.1 Explainthedifferenttypesofmeetingsinacompany,purposesandnoticeperiods.

Differenttypesofmeetingsinacompany,purposesandnoticeperiods.

5.1.2 Prepareanoticeforashareholdersmeeting(AGM/EGM).

Noticefortheshareholdersmeeting(AGM/EGM).

5.2 Different types of resolutions

5.2.1 Explainthedifferenttypesofresolutionswhichcouldbepassedbythemembersofacompanyandthenoticeperiods.

Differenttypesofresolutionswhichcouldbepassedbythemembersofacompanyandthenoticeperiods.

5.2.2 Preparedifferenttypesofresolutions(AppointmentandReappointmentofDirectors,Declarationofdividends).

Differenttypesofresolutions.(e.g.-AppointmentandReappointmentofdirectors,Declarationofdividends).


Detailed Curriculum


5.3 Company Records

5.3.1 ListthecompanyrecordsstipulatedintheCompaniesAct.

CompanyrecordsstipulatedinCompany’sAct.

5.3.2 ExplaintheprovisionsrelatingtotheannualreturnsthatshouldbefiledwiththeRegistrarofCompanies(ROC).

AnnualreturnsthatshouldbefiledwiththeRegistrarofCompanies(ROC).

5.3.3 ExplainthelegalprovisionscontainedinCompany’sActNo7of2007inrelationtofinancialstatements.

LegalprovisionscontainedinCompany’sActNo7of2007inrelationtofinancialstatements.

F. Winding up : 10%


6.1 Compulsory and Voluntary winding up

6.1.1 Differentiatecompulsoryandvoluntarywindingupandexplaintheirconsequences.

Compulsoryandvoluntarywindingupandexplaintheirconsequences.

6.1.2 Explaintheprocessofwindingup. Processofwindingup.

6.2 Functions of parties involved in winding

6.2.1 OutlinethefunctionsofAdministrator/Liquidator,Receivers.

FunctionsofAdministrator/Liquidator,Receivers.

G. Minority Rights : 10%

Knowledge Component Learning Outcome Specific Knowledge7.1 Majority Rule 7.1.1 Explaintheprinciplesrelatingto

majorityrule.Principlesrelatingtomajorityrule.

7.2 Oppression & Mismanagement

7.2.1 ExplaintheprinciplesrelatingtoOppression.

PrinciplesrelatingtoOppression

7.2.2 ExplaintheprinciplesrelatingtoMismanagement.

PrinciplesrelatingtoMismanagement.

7.3 Other safeguards 7.3.1 MajorTransactions(S.185oftheCompaniesAct).

MajorTransactions(S.185oftheCompaniesAct).

7.3.2 MinorityBuyOutrights. MinorityBuyOutrights.

7.3.3 Restrainingorders/InterimOrders(S.233/521).

Restrainingorders/InterimOrders(S.233/521).

7.3.4 ExplainDerivativeAction. DerivativeAction.

7.3.5 ExplaintheprovisionsintheCompanies’Actrelatingtotherectificationoftheshareregister.

Rectificationofshareregister.

H. Companies other than Private Limited Companies : 10%


8.1 Companies Limited by Guarantee

8.1.1 FeaturesofCompaniesLimitedbyGuarantee.

CompaniesLimitedbyGuarantee

8.1.2 UsesofCompaniesLimitedbyGuarantee.

UsesofCompaniesLimitedbyGuarantee.



8.2 Overseas Companies

8.2.1 FormationofOverseascompanies.

FormationofOverseascompanies

8.2.2 Financialstatements,servingofNotices,mentioningofCompanyname.

Financialstatements,servingofNotices,mentioningofCompanyname.

I. Listing a Company in the Colombo Stock Exchange : 10%


9.1 Stakeholders of Listing

9.1.1 ColomboStockExchange,Securities&ExchangeCommission,CentralDepositorySystemandFeaturesofCompaniesLimitedbyGuarantee.

ColomboStockExchange,Securities&ExchangeCommission,CentralDepositorySystemandFeaturesofCompaniesLimitedbyGuarantee.

9.1.2 Rolesstakeholders. Rolesstakeholders.

9.1.3 Advantagesanddisadvantagesoflisting.

Advantagesanddisadvantagesoflisting.

9.2 Listing Process 9.2.1 MainBoardandDirisaviBoard.9.2.2 DebtListing.

MainBoardandDirisaviBoardDebtListing.

9.3 Continuing obligations

9.3.1 Corporatedisclosures. Corporatedisclosures.

9.3.2 Periodicreporting. Periodicreporting.

9.3.3 Corporategovernance. Corporategovernance.

J. Other laws adjacent to corporate law : 10%


10.1 Foreign Exchange Act No.12 of 2017

10.1.1StatetheinwardinvestmentlimitsforCompanies.

InwardinvestmentlimitsforCompanies

10.1.2StatetheoutwardinvestmentlimitsforCompanies. (Gazetteno.2045/56-2017)

OutwardinvestmentlimitsforCompanies. (Gazetteno.2045/56-2017)

10.2 Land (Restriction on Alienation) Act No.38 of 2014

10.2.1Explaintherestrictionsontransferoflands

Restrictionontransferoflands

10.2.2ExplaintheresponsibilitiesoftheCompanySecretaryunderthisAct.

ResponsibilityoftheCompanySecretaryunderthisAct.


Detailed Curriculum

Pillar : Professional SkillsCourse Unit : Corporate Business CommunicationMain Curriculum Areas Weightage Notional hours

A. Reading 25% 63

B. Writing 25% 62

C. Listening 25% 63

D. Speaking 25% 62

Total 100% 250


A. Reading : 25%Knowledge Component Learning Outcomes Specific Knowledge1.1 Use Advanced

Accounting & Business Terminology

1.1.1 Comprehend&definekeyadvancedaccounting&businessvocabularyinEnglishusingaccuratecollocations.

KeyadvancedvocabularyinsubjectareassuchasFinancialAccounting,ManagementAccounting,Auditing,Taxation,BusinessMathematics,StrategicManagement,BusinessEconomics,CommercialandCorporatelaw.

1.1.2 Interpretandapplythemeaningofaccounting&businessvocabularyinauthenticbusinesstexts.

1.2 Use Advanced Accounting & Business Terminology

1.2.1 Interpretandapplythemeaningofaccounting&businessvocabularyinauthenticbusinesstexts.


1.3 Developing Technical Reading Skills in Advanced Business Communication Contexts

1.3.1 Improvejob-relatedadvancedreadingskillsthrougheffectivereadingoftechnicalmaterial(annualreports).

Reading,summarisingandsynthesisingtechnicalreports.

1.3.2 Identifyimplicitinformationinarangeoftechnicalmaterial.

1.3.3 Summarise,synthesiseandinterpretcomplexbusinesswriting.

1.4 Reading Advanced Academic Texts

1.4.1 Distinguishbetweenthekeycomponentsofanacademicresearcharticle.

Intensiveandextensivereading.

1.4.2 DemonstratetheuseofcriticalreadingtechniquessuchasSQ3Rincomplexacademictexts.

1.4.3 Practicereading,understandingandinterpretingsubjectrelatedcomplexacademictexts(journalarticles,booksandconferenceproceedings).

1.4.4 Practicecriticalreadingandtheexpressionofindependentopiniononcomplexacademictexts.

Criticalevaluationoftexts.

1.4.5Practicereadingandsummarisingkeypointsincomplextexts.


Detailed Curriculum

B. Writing : 25%Knowledge Component Learning Outcomes Specific Knowledge

2.1 Using Advanced Accounting & Business Vocabulary in appropriate contexts to achieve meaningful communication

2.1.1 Demonstratetheuseofbusinessvocabularyappropriatelyinadvancedwritingforacademicandprofessionalpurposes.


2.2 Writing a Business Text

2.2.1Compiletextsbyparaphrasing,summarising,synthesisinginformationfromdiversesources.

Organisationofideasinacomplextext.

2.2.2Composemanagementletters Featuresofmanagementletters.2.2.3Developspecifictypesof

businessreportscoherently&cohesivelytosuittheoccasion(feasibilityreports,progress,businessproposaletc)

Formalschemaregardingbusinesstexts.

2.3 Writing an Academic Text Part I

2.3.1Develop&writeanextendedessay.

Differenttypesofessays(includingargumentative,causeandeffect,problem,solution)foracademicpurposes.

C. Listening : 25% Knowledge Component Learning Outcomes Specific Knowledge

3.1 Listening for Specific Professional Purposes

3.1.1Identify&comprehendimpliedmeaninginauthenticconversations.

Decipheringimpliedmeaning.

3.1.2Summarise,synthesiseandinterpretinformationinbusinessconversations.

Intensive&extensivelistening.

3.2 Clarifying Meaning Through Active Listening & Negotiations

3.2.1 Demonstratetheuseoftechniquesformeaningclarificationsincomplexformalandinformalcommunication(businessmeetings,conferences,businessforums).

Techniquesformeaningclarificationsincomplexformalandinformalcommunication(businessmeetings,conferences,businessforums).


D. Speaking : 25%Knowledge Component Learning Outcomes Specific Knowledge

4.1 Active Participation in a Lecture/ Seminar/Discussion

4.1.1 Practice• engagingindiscussions• identifyingdifferentviewpoints• Presentone’sviewpointwhilstdisagreeingagreeingonaparticularpointofview

Engageincriticaldiscussion.

4.2 Presenting a Business Report/ Proposal

4.2.1 Makeapresentationby:-• summarisingthemainpointsofareport/proposal/businessnegotiationselaboratingonthemainpoints-invitingandrespondingtoothers’viewpointsandrespondingappropriately

• Useappropriateregistersassociatedwithbusinesspresentations

Genresofformalpresentations.

4.3 Effective Speaking in a Professional Setting

4.3.1Producelongturns&respondappropriatelyforbusinesspurposes(i.eindecisionmaking&problemsolvingbusinesscontexts).

4.3.2Conduct&participateinsimulatedbusinessmeetings.


Detailed Curriculum

Pillar : IT Training Pillar Course Unit : Corporate Information TechnologyMain Curriculum Areas Weightage Notional hours

A. ITForBusinessDecisions 10% 25

B. InformationSecurityManagement 5% 13

C. EmergenceofEnterpriseContent 10% 25

D. BusinessInformationSystems 75% 187

Total 100% 250


A. IT For Business Decisions : 10%

Knowledge Component Learning Outcomes Specific Knowledge 1.1 BI Tools for

Business Decisions

1.1.1DiscussthearchitectureofamanagementinformationsystemanditslinkagetoBItools.

InformationSystemBasics:DatavsInformation.TypesofInformationSystems:TPS.MIS.DSS,ESS.BusinessProcessChangewithIS:Automation,Rationalisation,Reengineering,ParadigmShift.StrategicBusinessobjectivesininvestingIS.BusinessIntelligence:Datawarehousing,Businessperformancemanagement,Balancedscorecardandsixsigma,Bigdata,datamining,IntroductiontoPowerBI.

1.1.2.DiscusstheroleofdatawarehouseinBI.

1.1.3.EmergenceofbigdatatofacilitateBI.

1.1.4Analysetheimportanceofbigdatafordecisionmaking.

B. Information Security Management : 5%Knowledge Component Learning Outcomes Specific Knowledge 2.1. Identification

and Mitigation of Information Systems Related Risks

2.1.1.DiscustherelevanceofISMSincontemporaryITenvironment.

RelevanceofISMS.Dataprotectiontechniques.BusinessContinuityPlanning.DisasterRecoveryPlanning.CyberSecurity.Riskanalysisofonlineservices(Payments,etc.),CostsandbenefitsofISMS.

2.1.2.Discussthepreventionofdataleakageandtheft.

2.1.3.DiscusstheimportanceandbestpracticesinBCP.

2.1.4.DiscussthedynamicsofcybersecurityincurrentITenvironment.

2.1.5.Assesstherisksrelatedtotheprovisionofonlineservicesandcollectingproceedsusingonlinepaymentgateways.

2.1.6.Assessthenecessitytoconductperiodicpenetrationtestingandvulnerabilityscanning.

2.1.7.Assessthecostsandbenefitsrelatedtoinformationsecuritymanagementsystems(ISMS)andrelatedthirdpartycertifications.

C. Emergence of Enterprise Content : 10%

Knowledge Component Learning Outcomes Specific Knowledge 3.1 Document

Management Systems

3.1.1Assesstheroleofdocumentmanagementsystemswithinthemodernaccountingandrelatedoperationalactivitiesinmovingtowardsautomationanddigitalisation.

Documentmanagementsystems:creation,review,approval,versioncontrol,accesscontrol,searchingandindexing,backupsandrecovery.

3.1.2Analysethefunctionsofdocumentmanagementsystemsandunderstandtheapplicabilityofeach,especiallywithinfinancedivision.

3.1.3Assessdocumentmanagementsystemsviademonstration.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 3.1.4Discusstherisksinvolvedin

documentmanagementsystemsanddiscusstherequiredcontrolsandgovernanceframeworkneeded.

Documentmanagementsystems:creation,review,approval,versioncontrol,accesscontrol,searchingandindexing,backupsandrecovery.

3.2. Enterprise Content Management System

3.2.1.DiscusstheAdvanceaspectsofECMoverDMS.

AdvancedaspectsofECMoverDMS.EfficientuseofbusinessinformationwithECM.3.2.2.AnalysetheroleofECM

inefficientuseofbusinessinformation.

3.2.3.DiscusstheintegrationofECMwithothersystemssuchasERP.

ECMintegrationwithothersystems.

D. Business Information Systems : 75%Knowledge Component Learning Outcomes Specific Knowledge 4.1 Enterprise

Resource Planning (ERP)

4.1.1RecognisetheArchitectureandsecurityofanERPsystem.

IntroductiontoEnterpriseSystemsforManagement.SystemsIntegration.EnterpriseSystemsArchitecture.ImplementationStrategies.SoftwareandVendorSelection.OperationsandPostimplementation.OrganisationalChangeandBusinessProcessReengineering.OperationsofERPsystemforaccounting.

4.1.2AssessvariousERPsoftwareavailable(offtheshelforbespoke)anddecidethesuitabilityofeachtoaindustry.

4.1.3AssesstheimportanceofERPforbusinessdecisionmarkingandbenefitsofusinganERPsystemaswellastherisksinvolvedinimplementinganERPsystem.

4.1.4UnderstandtheconceptofmasterrecordsinanERPsystem.

4.1.5.DiscusstheBestpracticesindefiningaccountscodestocapturemultipledatapointssuchascountry,department,location.

4.1.6.PracticethebasicsofdesigningandmaintainingachartofaccountsusinganERPsystem.

4.1.7.Practicethefunctionalitiesoftheaccountsreceivable,accountspayable,cashmanagement,generalledger,purchaseorder,fixedasset,andinventoryusinganERPsystem.

4.1.8.Practicethebasicsinvolvedincontrolaccountsandlistdownthestepswhencarryingoneout.

4.1.9.PracticegeneratingthestandardreportsavailableundereachcourseunitusinganERPsystem(includingAccountsReceivable,AccountsPayable,CashManagement,GeneralLedger,PurchaseOrder,FixedAsset,andInventoryModules).


Pillar : Professional ExperienceCourse Unit : Professional Experience IIMain Curriculum Areas Public Practice Non-Public Practice



A.Financialaccounting 23% 50 50 45% 100 90

B.Audit&assurance 45% 100 75 23% 50 20

C.Taxation 7% 15 15 7% 15 15

D.Managementaccounting&financialmanagement

7% 15 - 11% 25 20

E.Informationtechnology 9% 20 20 9% 20 20

F. Generalmanagementandsecretarialpractice

9% 20 5 5% 10 -

Total Days 100% 220 100% 220





Detailed Curriculum

A. Financial Accounting : Public Practice 23%, Non-Public Practice 45%

Knowledge Component Learning Outcomes1.1 Financial

Accounting

1.1.1 Applyknowlegdeofaccounting,accountingprocessandsystemsincarryingoutprofessionalduties.

1.1.2 ApplyrelevantSriLankaAccountingStandards,provisionsoftheCompaniesActandanyotherapplicablerulesandregulations.

1.1.3 Analysingandinterpretingfinancialinformationfordecisionmaking.1.1.4 Applybasicethicalprinciplesincarryingoutprofessionalduties.1.1.5 Relateaccountingworkstootherbusinessfunctionsandactivities.1.1.6 Improvetheknowledgeandunderstandingoforganisation,howbusinessworks

andprofessionalworkrelationships.B. Audit & Assurance : Public Practice 45%, Non-Public Practice 23%

Knowledge Component Learning Outcomes2.1 Audit &

Assurance2.1.1 Evaluatetheclient’sbusinessandIdentifyrisksinvolvedinthebusiness

processes.2.1.2 ApplyappropriatetechniquesofgatheringauditevidenceandPerformtestof

controlsandsubstantiveProcedures.2.1.3 EvaluatecompliancewiththeCompaniesActandotherregulatoryrequirement.2.1.4 Design/evaluateinternalcontrolsofthebusiness.2.1.5 Communicatewithrelevantpartiesanddrafttheauditandrelatedreports.2.1.6 ApplyrelevantAuditingStandardsandrelatedstandardsinperformingthe

professionalduties.2.1.7 Applyethicalprinciplesgoverningauditoffinancialstatements.2.1.8 Provideadviceonspecialinvestigationsandaudits.


Knowledge Component Learning Outcomes3.1 Taxation

3.1.1 Analyseincome,expenditureandotherrelevantinformationforthecomputationofIncomeTaxandotherindirecttaxliabilities.

3.1.2 Computationofpersonal,partnershipandcorporatetaxliabilities.3.1.3 Compilesubmissionsforconsiderationinthetaxationdisputeprocess.

D. Management Accounting & Financial Management : Public Practice 7%, Non-Public Practice 11%

Knowledge Component Learning Outcomes4.1 Management

Accounting4.1.1 Applyknowlegdeofmanagementaccountingandpractices,businessprocess

andsystemsincarryingoutprofessionalduties.4.1.2 Computethecostofaproductorserviceandpreparerelevantreports.4.1.3 Identifydirectcostsandallocatecostsamongproducts,divisionsandStrategic

BusinessUnits.4.1.4 Designbudgetsandplans,allocateresourcesandidentifyvariancestomeasure

performance.4.1.5 Improvetheknowledgeandunderstandingoforganisation,howbusinessworks

andprofessionalworkrelationships.


Knowledge Component Learning Outcomes4.2 Financial

Management

4.2.1 Evaluatefundsrequirements&differentsourcesoffundsavailableforanorganisation/businessunit.




4.2.5 Computeandanalysethedividendpolicyoftheorganisation/businessunits.E. Information Technology : Public Practice 9%, Non-Public Practice 9%

Knowledge Component Learning Outcomes5.1 Information

Technology5.1.1 Applycustomisedorstandardsaccountingpackages/ERP/presentation

softwareetc. 5.1.2 Developandmaintaindatabases/spreadsheets/wordprocessingsystems. 5.1.3 Identifyinformationsecuritysystems. 5.1.4 Applytheinterneteffectivelyasasourceofrelevantandreliableinformation. 5.1.5 Applyemergingtechnologiesinindustry.F. General Management and Secretarial Practice : Public Practice 9%, Non-Public Practice 5%

Knowledge Component Learning Outcomes6.1 General

Management Practice

6.1.1 IdentifyandanalyseHRManagementPractices.6.1.2 AnalyseMarketingstrategies/functionsofthebusiness.

6.1.3 Analyseandevaluatethebusinessstrategy.6.1.4 Improvetheknowledgeandunderstandingoforganisation,howbusinessworks

andprofessionalworkrelationships.6.2 Secretarial

Practices6.2.1 Identifyrequiredorfrequentlyusedrelevantformsfortheclient/companyand

familiarwiththecontentsandduedatesforsubmission. 6.2.2 IdentifytheCompaniesActrequirementsrelatingtoformstobesubmittedto

RegistrarofCompanies.


Detailed Curriculum

Corporate Level

Business Level II

Business Level I

Strategic Level

6.4 STRATEGICLEVEL


Pillar : Financial Accounting & Reporting Course Unit : Advanced Business ReportingMain Curriculum Areas Weightage Notional hours

A. Interpretationandapplicationofsrilankaaccountingstandards(SLFRS/LKAS/IFRIC/SIC)andrecentdevelopmentsinfinancialreporting

35% 122

B. PreparationandpresentationofConsolidatedFinancialStatements

30% 105

C. EvaluatingriskofmaterialmisstatementsinFinancialStatements

25% 87

D. Corporategovernanceandnon-financialreporting 5% 18

E. Ethicalissuesinfinancialreportingandtheregulatoryframework

5% 18

Total 100% 350


Detailed Curriculum

A. Interpretation and Application of Sri Lanka Accounting Standards (S LFRS/LKAS/IFRIC/ SIC) and Recent Developments in Financial Reporting : 35%


1.1 Level A Thoroughknowledgeand

comprehensionofthestandardtoidentifysignificantcomplicatedissuesandanypotentialimplicationstothefinancialstatements,andtoexerciseprofessionaljudgmentintheevaluationandapplicationofstandardsinresolvingacomplicatedmatterrelatedtofinancialreporting.

A“complicatedmatter”includestransactionsand/oreventswhichrequirethoroughanalysisofthematterandevaluationofstandards.

Itmayrequiretheanalysis,applicationandevaluationofrelevantstandard/s.

1.1.1 AdviseontheapplicationofSriLankaAccountingStandardsinsolvingcomplicatedmatters.

Annexure01-AccountingStandardsLevels.

1.1.2 RecommendtheappropriateaccountingtreatmenttobeusedincomplicatedcircumstancesinaccordancewithSriLankaAccountingStandards.

1.1.3 Evaluateoutcomesoftheapplyingdifferentaccountingtreatments.

1.1.4 Proposeappropriateaccountingpoliciestobeselectedindifferentcircumstances.

1.1.5 Evaluatetheimpactoftheuseofdifferentexpertinputstofinancialreporting.

1.1.6 Adviseappropriateapplicationandselectionofaccounting/reportingoptionsgivenunderstandards.

1.1.7 Designtheappropriatedisclosurestobemadeinthefinancialstatements.

1.2 Level B Goodknowledgeandcomprehension

ofthestandardtoidentifymoderatelycomplicatedissuesandanypotentialimplicationstothefinancialstatements,andtoexerciseprofessionaljudgmentintheanalysisandapplicationofstandardsinresolvingamoderatelycomplicatedmatterrelatedtofinancialreporting.Where:A“moderatelycomplicatedmatter”includestransactionsand/oreventswhichrequireananalysisofamatterandevaluationofsuchmatterwiththerelatedstandard/s.

1.2.1 ApplySriLankaAccountingStandardsinsolvingmoderatelycomplicatedmatters.


1.2.2 RecommendtheappropriateaccountingtreatmenttobeusedincomplicatedcircumstancesinaccordancewithSriLankaAccountingStandards.

1.2.3 DemonstrateathoroughknowledgeofSriLankaAccountingstandardsintheselectionandapplicationofaccountingpolicies.



1.2.4 Demonstratetheappropriateapplicationandselectionofaccounting/reportingoptionsgivenunderstandards.


1.2.5 Outlinethedisclosurestobemadeinthefinancialstatements.

1.3 Level C Conceptualknowledgeand

understandingofthestandardtoidentifysimpleissues,toexercisereasonableprofessionaljudgmentintheapplicationofstandardsinresolvingasimple(straightforward)matterrelatedtofinancialreporting. A“simpletransactionorevent”includestransactionsoreventswhichrequiredirectandconceptualapplicationofstandards.(Refer

1.3.1 Explaintheconcepts/principalsofSriLankaAccountingStandards.


1.3.2 Applytheconcepts/principalsofthestandardstoresolveasimple/straight-forwardmatter.

1.3.3 Listthedisclosurestobemadeinthefinancialstatements.

1.4 New exposure drafts and implications of the adoption to the existing presentation/disclosures

1.4.1 Evaluatethepossibleimpactofnewexposuredraftsonfinancialstatements.

Possibleimpactonpreparationoffinancialstatementsandspecialdisclosurerequirements.

B. Preparation and Presentation of consolidated Financial Statements : 30%


2.1 Separate & Consolidated Financial Statements which includes:• investmentsinSubsidiary/Subsidiaries/Subsubsidiariesincludingforeignoperations.

• investmentinjointarrangements&Associates

2.1.1 Compileconsolidatedfinancialstatementsforagroupwithmorethantwosubsidiaries,sub-subsidiariesorforeignsubsidiaries.

ConsolidatedFinancialStatementsincomplexgroupstructures.

2.1.2 Recompileaconsolidatedsetoffinancialstatements,post-acquisition,mergerordivestment.

Implicationstofinancialstatementsunderdifferentlevelsofinvestment/control/influence(ApplicationofSLFRS3/SLFRS10/LKAS27).

2.1.3 Evaluatetheinformationprovidedandidentifytheexistenceofjointventures.

CircumstancestowhichSLFRS11isapplicable.

2.1.4 Compilefinancialstatementsforjointventures.

Accountingforinvestmentsinjointarrangements.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 2.1.5 Adviceappropriateaccounting

treatmenttobeusedwhenthereisaninvestmentinanassociate.

CircumstancestowhichLKAS28isapplicable.

2.1.6 Compilefinancialstatementswhenthereisaninvestmentinanassociates.

Accountingforinvestmentsinassociates.

C. Evaluating Risk of Material Misstatements in Financial Statements : 25%


3.1 Risk of Material Misstatements 3.1.1 Demonstratethemeaningandcomponentsofriskofmaterialmisstatementinthecontextoffinancialreportingframework.

• FinancialReportingframework

• Inherentriskandcontrolrisk

• SLAuS2003.2 Financial Statement Assertions 3.2.1 Demonstratetheuseof

financialstatementsassertionsbymanagementinpreparingfinancialstatementandtheapplicationofassertionsinidentifyingpotentialmisstatementsinfinancialstatements.

SLAuS315.

3.3 Business risks and risk of material misstatements including risk of frauds

3.3.1 Evaluateforaspecifiedscenariohowsignificantbusinessriskresultsinriskofmaterialmisstatementinfinancialstatementsincludingthepresenceoffraudriskfactors.

• SLAuS200• SLAuS240-TypesofFrauds

• FraudRiskIndicators

3.4 Going Concern 3.4.1 Evaluateeventsandconditionsaffectingthevalidityofgoingconcernassumptionusedinpreparingfinancialstatementsindeterminingthedisclosuresrequiredonmaterialuncertainty.

ApplicationofLKAS1andSLAuS570todeterminethevalidityofgoingconcernbasisandimplicationofamaterialuncertaintyonauditors’opinion.

3.5 Materiality 3.5.1 Applytheconceptofmaterialityinevaluatingmisstatementsinfinancialstatements.

SLAuS300materialitypracticestatement.

3.6 Data Analytics for users of financial statements

3.6.1 Interpretfinancialandnon-financialinformationusingdataanalyticstodrawconclusionsusefulforeconomicdecisionmakingofusersoffinancialstatements.

Ratioanalysis/trendanalytics,regression/correlationandotherusefultechniques.



3.7 Data Analytics in risk assessment and in discovering material misstatements due to errors of frauds

3.7.1 Applicationofdataanalyticsandstatisticaltechniquesinperforminganalyticalprocedurestoevaluatepotentialmisstatementsinfinancialstatements.

• Dataanalyticstechniquesincludingpredictiveanalyticsandotherstatisticaltechniquesthatcouldbeusedinanalysingfinancialstatements

• Journalentryanalysis

• SLAuS520definitionofanalyticalproceduresanditsapplicationinaudits

3.8 Internal Control Framework 3.8.1 Demonstratecomponentsofanintegratedinternalcontrolframeworkanditsimportanceinensuringthereliabilityoffinancialstatements.

SLAuS315.

COSO2013-IntegratedInternalControlFramework.

3.9 Internal Controls over Financial Reporting

3.9.1 Evaluateinaspecifiedscenariocomponentofinternalcontrolsrelatingtofinancialreportingtoidentifyinternalcontroldeficiencies.

KeyinternalfinancialcontrolincludingITapplicationcontrolsandcontrolsoverjournalentries.

3.10 Internal controls relevant in preparing group financial statements

3.10.1Advicegroupmanagementoninternalcontrolsincludinggroupwidecontrolsapplicableinpreparingconsolidatedfinancialstatementsincludingrelatedpartytransactions.

• SLAuS600-Groupwidecontrols

• Groupinstructiontocomponents

• Controlsoveridentificationeliminationofrelatedpartytransactionsandotherconsolidatedadjustments

D. Corporate Governance and Non-Financial Reporting : 5%


4.1 Corporate governance and sustainability reports including integrated reporting

4.1.1 Criticiseanannualreportofacompanyinagivenscenario,onthebasisofadequacyofcorporategovernancedisclosures.

Corporategovernancedisclosures.


Detailed Curriculum


4.1.2 Compileanintegratedreportalongwithasustainabilityreportforagivenentity.

Integratedreportalongwithasustainabilityreports,Knowledgeincludingbusinessenvironmentinwhichtheentityoperates.

4.1.3 Evaluateintegrated/sustainabilityreportsinaccordancewiththe“triplebottomlineprinciple”andGRIandIIRCguidelines.

Integrated/sustainabilityreportsinaccordancewiththe“triplebottomlineprinciple”andGRIandIIRCguidelines.

E. Ethical Issues in Financial Reporting and the Regulatory Framework : 5%Knowledge Component Learning Outcomes Specific Knowledge

5.1 Recent ethical issues 5.1.1 Adviseonaccuratepresentationoffinancialstatementsforagivensetofcircumstances,withreferencetoglobalexamples.

Presentationoffinancialstatementsforagivensetofcircumstances,withreferencetoglobalexamples,Ethicalissuesinfinancialreportingandtheregulatoryframework.

Annexure01SriLankaAccountingStandards

No. Name LevelSLFRS1 First-timeadoptionofSriLankaAccountingstandards -SLFRS4 InsuranceContracts -SLFRS6 ExplorationforandevaluationofMineralResources -LKAS26 AccountingandReportingbyRetirementBenefitPlans -LKAS29 FinancialReportinginHyperinflationaryEconomies -LKAS1 PresentationofFinancialStatements ALKAS2 Inventories ALKAS7 StatementofCashFlows ALKAS8 AccountingPolicies,ChangesinAccountingEstimatesandErrors ALKAS10 EventsafterthereportingPeriod ALKAS16 Property,PlantandEquipment ALKAS18 Revenue ALKAS37 Provisions,ContingentLiabilitiesandContingentAssets ASLFRSforSmallerEntities SriLankaAccountingStandardforSmallerEntities A


No. Name LevelSLFRS3 BusinessCombinations BSLFRS5 Non-Currentassetsheldforsaleanddiscontinuedoperations BSLFRS9 FinancialInstruments BSLFRS10 ConsolidatedFinancialStatements BSLFRS11 JointArrangements BSLFRS12 DisclosureofInterestsinotherentities BSLFRS13 FairValueMeasurement BSLFRS15 RevenuefromContractswithCustomers BLKAS11 ConstructionContracts BLKAS12 IncomeTaxes BLKAS17 Leases BLKAS19 EmployeeBenefits BLKAS20 AccountingforGovernmentGrantsandDisclosureofGovernment

AssistanceB

LKAS21 TheEffectsofChangesinForeignExchangeRates BLKAS23 BorrowingCosts BLKAS24 RelatedPartyDisclosures BLKAS27 SeparateFinancialStatements BLKAS28 InvestmentsinAssociatesandJointVentures BLKAS32 FinancialInstruments:Presentation BLKAS33 EarningsperShare BLKAS36 ImpairmentofAssets BLKAS38 IntangibleAssets BLKAS39 FinancialInstruments:RecognitionandMeasurement BLKAS40 InvestmentProperty BLKAS41 Agriculture BSLFRSforSMEs SriLankaAccountingStandardforSmallandMediumsizedEntities BSLFRS2 Share-basedPayment CSLFRS7 FinancialInstruments:disclosures CSLFRS8 OperatingSegments CSLFRS16 Leases CLKAS34 InterimFinancialReporting CSLFRS14 RegulatoryDeferralAccounts N/A


Detailed Curriculum

Pillar : Performance Measurement and Risk Course Unit : Corporate Finance and Risk ManagementMain Curriculum Areas Weightage Notional hours

A. Firmandoverviewofcorporatefinance 15% 53

B. Valuationoffinancialassets 30% 105

C. Investmentappraisal 15% 52

D. Capitalstructureandfinancing 25% 87

E. Riskmanagementanduncertainty 15% 53

Total 100% 350


A. Firm and Overview of Corporate Finance : 15%

Knowledge Component Learning Outcome Specific Knowledge1.1 Nature of Firm

and Significance of Finance

1.1.1 Discussthesignificanceoffinancetoafirmincarryingoutitsoperationstoachievecorporateobjectives.

Structureofafirmandimportanceoffinance.

1.1.2 DiscusstherelevanceofAgencyTheoryandpracticalproblemsarisingfromagencyconflictsandagencycosts.

Agencyrelationships,Agencyconflict,agencycost,practicalissuesandsolutions.

1.1.3 Discussobjectivesofafirmandpracticalproblemsofachievingthembasedonthedebateofwealthmaximisationagainstprofitmaximisation.

Objectivesofafirm.

1.2 Relevance of Corporate Finance

1.2.1 Discusseconomicsignificanceofcorporatefinancefromcapitalformationandeconomicgrowthperspectivesofacountry.

Therelationbetweencapitalformationandeconomicgrowththroughcorporation.

1.2.2 Discussthenatureandstructureofdifferenttypesofdebtfinancingandequityfinancingavailabletoafirmandmeritsanddemeritsofeachtype.

Meritsanddemeritsofdifferentsourcesoffinancing.

1.2.3 Distinguishtherolesofatreasurerfromafinancialcontrollerasfinancemanagers.

ResponsibilitiesofFinancialDecisionmaking.

1.3 Assessing Performance of Finance

1.3. 1 Assessfinancialperformanceandfinancialpositionofafirmthroughfinancialstatementanalysis(Profitability,Efficiency,Solvency,Liquidity).

Assessingperformancethroughfinancialstatements.

1.3.2 Recommendwaysofimprovingfinancialperformanceandstabilitybasedontheresultsoffinancialstatementanalysistoachievecorporateobjectives.

Recommendationtoimproveperformanceandfinancialstability.

B. Valuation of Financial Assets : 30%

Knowledge Component Learning Outcome Specific Knowledge2.1 Cash Flows and

Time Value of Money

2.1.1 Discusstheimportanceofdifferenttypesofcashflowsandearningstoafirm.

RelevanceofcashflowsandEarnings.

2.1.2 Discussthenatureofcashinflowsandoutflowsarisingfromequityfinancinganddebtfinancing.

Identificationofcashflowsfromequityfinancinganddebtfinancing.

2.1.3 Discusshowthetimevalueofmoneyvariesovertimeandtheneedforcompensatingthetimevalue.

RelationsbetweenPVandFVsofcashflowsthroughcompoundinganddiscounting.


Detailed Curriculum

Knowledge Component Learning Outcome Specific Knowledge2.1.4 Analysetheimpactofeachdeterminant

oftimevalueofmoneyonPVandFV.

(PerformcalculationsofPVandFV,AnnuityPayment,timeperiodandRequiredrateofreturninrelationtocashflowsbyusingMicrosoftExcelformulasorafinancialcalculator).

ImpactofdeterminantsoftimevalueonPVandFV

UseofMSExcelcomputerapplicationsorfinancialcalculatortosolveproblems.

2.2 Valuation of Shares 2.2.1 CompareIntrinsicvalueofasharewithitsmarketprice.

Differencebetweenvaluationandprice.

2.2.2 DiscussShareValuationRules. DecisionRules.2.2.3 DiscussCashflowsassociatedwitha

share(Investment,dividendsandsalesproceeds).

Identificationofcashflowsrelatedtoinvestmentsinshares.

2.2.4 DiscusstherelevanceofvaluingsharesbasedonFreeCashFlows.

SharevaluationbasedonFCFs.

2.2.5 DiscusstherelevanceofAssets-basedshareValuationModel.

Meaningandrelevanceofassetbasedsharevaluationmodel.

2.2.6 Determinethevalueofasharebasedongivenscenarios.

Determinationofvaluebasedonassets.

2.2.7 Discusspracticalissuesofusingassetbasedvaluationfromfinancialdecisionmakingperspective.

Issuesonassetbasedvaluations.

2.2.8 ExplainDividendDiscountValuationmodel(DDM).

RelevanceandlimitationofDDMinvaluationofshares.

2.2.9 DiscussdifferentpatternsofDividendspaidbyfirmsbygivingpracticalexamples.

Typesofdividendpatterns.

2.2.10 EstimatethevalueofasharebasedonDDMwithnodividendgrowth,constantdividendgrowthandtwostageofdividendgrowth.

Computationofsharevaluebasedondividends.

2.2.11 RecommendinvestmentdecisionsbycomparingvaluationobtainedfromDDMwiththemarketpriceandotherfactors.

Decisionmakingbasedonpracticalsituation.

2.2.12 DiscusstheimportanceofrelativevaluationtechniquessuchasPriceEarning(PE)Ratio,Pricetobookvalue(P/BVandDividendyield(DY).

RelevanceofPEP/BVandDYforvaluation.

2.2.13 CalculateJustifiedPEratioanddiscusstheimpactofgrowthonPEandvaluation.

ImpactofgrowthonsharevaluationbyusingPEratio.


Knowledge Component Learning Outcome Specific Knowledge2.2.14 Recommendinvestmentdecisionsbased

onPE/P/BVandDYbyreferringtopracticalexamples.

(PerformallcalculationsbyusingMicrosoftExcelformulasorfinancialcalculatorwhenpossible).

InvestmentDecisionswithregardtoPE,P/BVandDY.

UseofMsExcelcomputerapplicationstosolveproblems.

2.2.15 Evaluatetheimpactofqualitativefactorsbeforetakingthefinalinvestmentdecision.

ImpactofqualitativefactorsonInvestmentdecisions.

2.3 Valuation of Bonds 2.3.1 DiscusstheimpactofeachdeterminantofvalueofaBond.

DeterminantsofthevalueofaBond.

2.3.2 DistinguishcharacteristicsofCouponbondsfromZerocouponbonds.

Characteristicsofbondswithcouponsandwithoutcoupons.

2.3.3 DefineYieldtoMaturity(YTM). MeaningofYTM.2.3.4 CalculateYTM. CalculationofYTM.2.3.5 CompareYTMwithcouponrateof

abondtodecidewhetherthebondistradedatpar,atapremiumoratadiscount.

RelationbetweenYTMandCouponRateonthevalue.

2.3.6 EstimatethevalueofaZerocouponbondandacouponbond.

Valuationofabond.

2.3.7 Recommendinvestmentdecisionsbasedonoverpricedandunderpricedbondsbycomparingvalueswithmarketprices.

Investmentdecisions.

2.3.8 Analysetheimpactofinterestratechangeonthevalueofabond.

Impactofinterestrateanditssensitivityonbondvalue.

2.3.9 Comparehowthevalueofabondchangesovertimewhenitapproachesmaturity(estimatethevalueatdifferenttimeintervalsforthispurposeandshowthemgraphicallywithaviewtoenhancetheunderstanding).

Variationofvalueofabondovertime.

2.3.10 Explain"DurationofaBond". Knowingtheconceptofbonddurationanditsrelevancefordecisionmaking.

2.3.11 Calculatethedurationofabondandinterpretit.

Computationofbondduration.

2.3.12DiscusstheimportanceofCreditRatingonbondvaluationandYTM.

(PerformcalculationsbyusingMicrosoftExcelformulasandfinancialcalculatorwhenpossible).

CreditRatingandBondValuation.

UseofMSExcelcomputerapplicationstosolveproblems.


Detailed Curriculum

C. Investment Appraisal : 15%Knowledge Component Learning Outcome Specific Knowledge3.1 Projects appraisal 3.1.1 Analysethecapitalbudgetingprocess

(includingsearchingforinvestments,strategicprioritisation,identifyinginvestment,investmentappraisal,authorisation,capitalbudget,monitoringandreview).

Capitalbudgetingprocess,strategicprioritisation,identifyinginvestment,investmentappraisal,authorisation,capitalbudget,monitoringandreview.

3.1.2 Evaluateinvestmentprojectsusingdiscountingfactor/non-discountingfactortechniqueswith:• Tax• Inflation(monetaryandrealmethod)• Unequallifeprojects(annualequivalentmethodonly)

• Assetreplacement• Capitalrationing(includingmultiperiodcapitalrationing)

• Underuncertainty(certaintyequivalent,adjustingdiscountingfactors/payback,usingprobabilityandsensitivityanalysis)

• Foreigninvestments(usingforwardexchangeratesorcountry-specificdiscountingfactors).

Discountingfactor/non-discountingfactortechniqueswith:• Tax• Inflation(monetaryandrealmethod)

• Unequallifeprojects(annualequivalentmethodonly)

• Assetreplacement• Capitalrationing(includingmultiperiodcapitalrationing)

• Underuncertainty(certaintyequivalent,adjustingdiscountingfactors/payback,usingprobabilityandsensitivityanalysis)

• Foreigninvestments(usingforwardexchangeratesorcountry-specificdiscountingfactors).

3.1.3 CriticiseIRRonthebasisofitsreinvestmentassumption,leadingtomodifiedIRR(calculationsareexpected).

IRRonthebasisofitsreinvestmentassumption,leadingtomodifiedIRR.

3.1.4 Evaluatetheimpactonprojectappraisalfromsideeffectsoffinancing,usingtheAdjustedPresentValue(APV).

Impactonprojectappraisalfromsideeffectsoffinancing,usingtheAdjustedPresentValue(APV).

3.1.5 Analysetheimportanceofpostcompletionauditandrealoptionsincapitalbudgeting.

Importanceofpostcompletionauditandrealoptionsincapitalbudgeting.

3.2 Capital Budgeting Techniques

3.2.1 Discussdifferentstagesofcapitalbudgetingprocess(searchingforinvestmentopportunities,matchingwithstrategicpriorities,identifyinginvestment,investmentappraisal,authorisation,capitalbudget,monitoring,andreview.

Stagesofcapitalbudgetingprocess• searchingforinvestmentopportunities

• matchingwithstrategicpriorities

• identifyinginvestment• investmentappraisal• authorisation• capitalbudgetmonitoring,andreview


Knowledge Component Learning Outcome Specific Knowledge3.2.2 Analysetheimpactofsensitivitiesof

eachdeterminantandagivenscenariooncapitalbudgetingdecisions.

Impactofsensitivitiesofeachdeterminantandagivenscenariooncapitalbudgetingdecisions.

3.2.3 Discusstheimpactofqualitativefactorsonfinalcapitalbudgetingdecision.

Impactofqualitativefactorsonfinalcapitalbudgetingdecision.

3.2.4 Analysetheimportanceofpostcompletionauditandrealoptionsincapitalbudgeting.

Postcompletionauditandrealoptionsincapitalbudgeting.

3.2.5 DiscusspracticalissuesrelatingtoIRRandrecommendremediesavailable.

PracticalissuesrelatingtoIRRandremedies.

D. Capital Structure and Financing : 25% Knowledge Component Learning Outcome Specific Knowledge4.1 Capital Structure

and Theories4.1.1 ExplainhowtheCapitalofafirm

constructs.ElementsofCapitalanditsstructure.

4.1.2 Explaindeterminantsofcostofdebtandcostofequity.

Determinantsofcostofcapital.

4.1.3 Estimatecostofdebtincorporatingtheimpactoftaxation.

Costofdebtandimpactoftaxoncostofdebit.

4.1.4 DiscusstherelevanceofCapitalAssetPricingModel(CAPM)todeterminecostofequity.

CAPManddeterminantsofcostofEquity.

4.1.5 DiscusstheassumptionsmadeinCAPMandtheirrelevanceinpracticalsituations.

RelevanceofassumptionofCAPM.

4.1.6 EstimatecostofEquitybyusingCAPM. CostofequityanditsdeterminantsthroughCAPM.

4.1.7 EstimateWACCunderdifferentdebtequitystructurescenariosgiven.

WACCanditsrelevancetocapitalstructure.

4.1.8 AnalysetheimpactofWACConvalueoffirmunderdifferentdebtequitystructures.

RelationbetweenWACCandfirmvalue.

4.1.9 Discusstheimpactofdebtfinancingonfinancialperformance.

ImpactofFinancialleverage.

4.1.10 DiscusstherelevanceofMillarandModigliani(MM)TheoryonCapitalStructure.

MMTheory.

4.1.11 DiscussassumptionsmadeinMMtheory.

AssumptionsofMMtheory.

4.1.12 DiscussTradeoffTheoryofLeverageandhowitaffectstothefirmvalueandWACC.

Tradeofftheoryanditsimpacttofirm.

4.1.13 DiscussPeckingOrderTheoryanditssignificanceonfirmperformance.

PeckingOrderTheory.

4.1.14 Analysethewaysinwhichanoptimumcapitalstructureismaintained.

OptimumCapitalStructure.


Detailed Curriculum

Knowledge Component Learning Outcome Specific Knowledge4.2 Long-term Financing 4.2.1 Discussaboutdifferenttypesoflong-

termfinancingofafirm.Financingoptionsavailable.

4.2.2 AnalysetheimpactofdifferentDebtfinancingalternatives(Loans,Bonds/Debentures,Leasing)onfinancialperformanceandrisk.

BankBorrowings,issuanceofcorporatebondsandfinancingthroughleasing.

4.2.3 AnalysetheimpactofIPOs,PrivatePlacements,RightIssues,ShareRepurchase,EmployeeShareOwnershipSchemesonfinancialperformanceandvalueofshares/firm.

Analysetheimpactofcostsofissuanceofequityfinancinganddebtfinancing.

Typesofequityfinancingandtheimpactofeachsource.

CostsofIssuanceofequityanddebt.

4.2.4 Recommendappropriatefinancingoptionsforafirmbasedongivenscenarios.

Gearingoffirm.

4.2.5 AnalysetheimpactofconversionofdebtintoEquityonfinancialperformanceandfirmvalue.

Conversionofdebtintoequity.

4.2.6 AnalysetheimpactofShareSwapArrangementsbetweencompaniesonfinancialperformanceandfirmvalue.

ShareSWAPandfirmvalue.

4.2.7 AssessbothpositiveandnegativeconsequencesofManagementBuyouts(MBOs).

MBO,MBI,MBOIN.

4.2.8 AssesstheimpactofleverageBuyouts(LBO)andtheirconsequences.

LBOanditsconsequences.

4.2.9. Discusstheimpactofmergersandacquisitionsonfirmvalue.

MergersandAcquisitions.

4.2.10. Discusstherelevanceoftechnicalanalysisandfundamentalanalysiswithregardtocapitalmarkets.

Technicalanalysisandfundamentalanalysis.

4.2.10Evaluatefinancingmethods(includingcashoffer,shareexchangeanduseofdebtfinancingandearn-outarrangements,merger,acquisitionordivestment).

Cashoffer,shareexchangeanduseofdebtfinancingandearn-outarrangements,acquisition,divestment

4.2.11Evaluatepost-mergervaluationandimplications(marketvalues,netassetvalues,ePs,P/eratiobeforeandafteracquisitionormerger),includingpost-acquisitionintegration,integrationproblemswhichcausemerger/acquisitionfailure.

Marketvalues,netassetvalues,ePs,P/eratiobeforeandafteracquisitionormerger,post-acquisitionintegration,integrationproblemswhichcausemerger/acquisitionfailure


Knowledge Component Learning Outcome Specific Knowledge4.2.12. DiscusstheimportanceofEfficient

markethypothesisinrelationtocapitalmarketsandinvestmentdecisions.

Efficientmarkethypothesis.

4.3 Short-term Financing

4.3.1 Discusstheimportanceofshort-termfinancingtoafirm.

Short-termfinancingmethods.

4.3.2 AnalysetheimpactofWorkingCapitalelementsonfinancialperformance.

ElementsofWorkingCapital.

4.3.3 CompareanddiscusstraditionalviewsandmodernviewsofWorkingCapitalmanagement.

ViewsonWorkingCapitalmanagement.

4.3.4 DiscussthesignificanceofmanagingtheCashCycleandtheOperatingCyclefromWorkingCapitalperspective.

Conceptsofcashcycleandoperatingcycle.

4.3.5 Estimatethecashcycleandtheoperatingcyclebasedongivenscenarios.

Computationofcashcycleandoperatingcycle.

4.3.6 Estimateworkingcapitalrequirementneededbasedonagivenscenario.

EstimationofWorkingCapitalrequirement.

4.3.7 Analyseandrecommendthewaysinwhichthecashcycleandtheoperatingcyclecanbeimproved.

Improvingtheefficiencyofoperationsandcashmanagement.

4.3.8 Analysetheimpactofdebtdefeasance. Strategyofdebtdefeasanceincludingfactoring.

E. Risk Management and Uncertainty : 15%

Knowledge Component Learning Outcome Specific Knowledge5.1 Corporate risk

identification5.1.1 Discussvarioustypesofriskssuchas

creditrisk,interestraterisk,liquidityrisk,foreignexchangerisk,pricerisk,operationalriskandreputationalrisk.

• Creditrisk,• Interestraterisk,• Liquidityrisk,• Foreignexchangerisk,• Pricerisk,• Operationalrisk• Reputationalrisk

5.1.2 Discussthenatureofdifferenttypesofrisksandanalysetheirrisks.

Natureofdifferenttypesofrisks.

5.1.3 Discussthewaysinwhichriskscanbemitigatedthroughappropriateinvestmentportfolios.

Waysinwhichriskscanbemitigatedthroughappropriateinvestmentportfolios.

5.1.4 Discusshowriskisidentifiedandmeasuredwithreferencetototalrisk,systematicrisk(Marketrisk,Non-diversifiablerisk)andunsystematicRisk(Uniquerisk,assetspecificrisk,diversifiablerisk)ofinvestment.

Identifyingandmeasuringriskswithreferencetototalrisk,systematicrisk(Marketrisk,Non-diversifiablerisk)andunsystematicrisk(Uniquerisk,assetspecificrisk,diversifiablerisk)ofinvestment.


Detailed Curriculum

Knowledge Component Learning Outcome Specific Knowledge5.1.5 Discusshowtotalriskcanbeminimised

throughinvestmentportfolios.Minimisingtotalriskthroughinvestmentportfolios.

5.1.6 Analyseandcomparetheindividualassetbasedrisksandportfoliorisksthroughappropriateriskmeasures(Variance,StandardDeviation,Beta,covariance).

Individualassetbasedrisksandportfoliorisksthroughappropriateriskmeasures(Variance,StandardDeviation,Beta,covariance).

5.2 Corporate risk measurement

5.2.1 Discussandcalculateportfoliostandarddeviationanditsapplication.

Portfoliostandarddeviationanditsapplication.

5.2.2 Discusstheconceptofliquiditymismatchandinterestratesensitivitygaps.

Conceptofliquiditymismatchandinterestratesensitivitygaps.

5.3 Corporate risk management

5.3.1 Discusscreditratingandmeasurementofcreditrisk(probabilityofdefault,lossgivendefault,exposureatdefault).

Creditratingandmeasurementofcreditrisk(probabilityofdefault,lossgivendefault,exposureatdefault).

5.3.2 DiscusstheimportanceofdifferentcorporateGovernancestructuresforriskmanagement.

ImportanceofdifferentcorporateGovernancestructuresforriskmanagement.

5.3.3 Analysetheimpactofrisksarisingfromfinancialderivativessuchasoptions,futures,Swapsandforwardcontracts.

Impactofrisksarisingfromfinancialderivativessuchasoptions,futures,Swapsandforwardcontracts.

5.3.4 Evaluatepayoffofaderivativeatmaturityandduringthelifetime.

Payoffofaderivativeatmaturityandduringthelifetime.

5.3.5 Discussthesignificanceofdurationofabondanditsrelevancetoriskmanagement.

Significanceofdurationofabondanditsrelevancetoriskmanagement.

5.3.6Recommendappropriatestrategiestohedgefinancialrisksarisingfrompracticalbusinessscenarios(HedgingInterestraterisk,foreigncurrencyriskandcreditrisks).

Strategiestohedgefinancialrisksarisingfrompracticalbusinessscenarios(HedgingInterestraterisk,foreigncurrencyriskandcreditrisks).


Pillar : Taxation and Law Course Unit : Corporate TaxationMain Curriculum Areas Weightage Notional hours

A.Incometaxliabilityofaresidentcompany 30% 105

B. Taxationandbusinessdecisionmaking 10% 35

C. Taxationofnon-residentsandinternationaltaxation 15% 53

D. Statutoryprovisionsandcaselaw 10% 35

E. ManagementofValue-AddedTax(VAT) 15% 52

F. Taxplanningandadvising 10% 35

G. Contemporaryissuesintaxation 10% 35

Total 100 350


Detailed Curriculum

A. Income Tax Liability of a Resident Company : 30%

Knowledge Component Learning Outcome Specific knowledge1.1 Types of

companies1.1.1 Discussvarioustypesofcompanies

andthebasisoftaxliability,includingratesofincometax.

Varioustypesofcompaniesandthebasisoftaxliability,includingratesofincometax.

1.2 Taxable income of a company

1.2.1 AssesstheAssessableincomefrombusinessandinvestmentcarriedoutbyaresidentcompany.

Assessableincomefrombusinessandinvestmentcarriedoutbyaresidentcompany.

1.2.2 Assesstaxableincomeafterdeductingthequalifyingpayments.

Taxableincomeafterdeductingthequalifyingpayments

1.2.3 Analysebusinessactivitiesinordertoapplyappropriatetaxholidaysandothertaxincentivesapplicabletoresidentcompanies.

Differentbusinessactivities,appropriatetaxholidaysandothertaxincentivesapplicabletoresidentcompanies.

1.3 Gross income tax and balance tax payable

1.3.1 Assessincometaxliability,applyingappropriateratesofincometax,basedonthecategoryofthecompanyandthenatureofbusiness.

Incometaxliability,appropriateratesofincometax,basedonthecategoryofthecompanyandthenatureofbusiness.

1.3.2 Assessthebalancetaxpayable,afterapplyingself-assessmentpaymentsandtaxcreditsapplicabletocompanies(includingeconomicservicecharge).

Balancetaxpayable,afterapplyingself-assessmentpaymentsandtaxcreditsapplicabletocompanies(includingeconomicservicecharge).

1.4 Specialised business undertakings

1.4.1 Assesstheincometaxliabilityof“specialisedbusinessundertakings”andtransactions(includingpetroleumoperations,financialinstitutions,insurance).

Incometaxliabilityof“specialisedbusinessundertakings”andtransactions(includingpetroleumoperations,financialinstitutions,insurance).

B. Taxation and Business Decision Making : 10%

Knowledge Component Learning Outcome Specific knowledge2.1 Impact of

Taxation on business and finance decisions

2.1.1 Evaluateeffectivenessoftaxstrategiesproposedorimplementedinbusinessundertakings,byanalysingfinancialstatementsandotherrelevantinformation.

Effectivenessoftaxstrategiesproposedorimplementedinbusinessundertakingsandfinancialstatementsandotherrelevantinformation.

2.1.2 Evaluatepotentialrisksintermsofdirectandindirecttaxesandmatterswhichrequirecorrectiveactionsforstatutorycompliance.

Potentialrisksintermsofdirectandindirecttaxesandmatterswhichrequirecorrectiveactionsforstatutorycompliance.

2.1.3 Compilereportswithalternativecoursesofactionavailableforexistingtaxissuessupportedbynecessarycomputations.

Alternativecoursesofactionavailableforexistingtaxissuessupportedbynecessarycomputations.


Knowledge Component Learning Outcome Specific knowledge2.2 Personal taxation 2.2.1 Analysefinancialaffairsof

individualswithahigherexposuretoincometaxandotherinteractivetaxes(VAT,NBT,sectorspecifiedtaxes)inordertoaddresscurrenttaxissues.

Financialaffairsofindividualswithahigherexposuretoincometaxandotherinteractivetaxes(VAT,NBT,sectorspecifiedtaxes)andtaxissues.

2.2.2 Recommendalternativecoursesofactiontomitigatepotentialrisksandminimisetaxexpense.

Alternativecoursesofactiontomitigatepotentialrisksandminimisetaxexpense.

2.2.3 Preparesupplementarystatementsandalternativecomputations(includingcomputationofincomeusing“netwealthmethod”andreceiptsandpaymentsmethod,tosubstantiatethetaxliabilityofaperson).

Supplementarystatementsandalternativecomputations(includingcomputationofincomeusing“netwealthmethod”andreceiptsandpaymentsmethod,tosubstantiatethetaxliabilityofaperson).

C. Taxation of Non-residents and International Taxation : 15%

Knowledge Component Learning Outcome Specific knowledge

3.1 Assessing income tax liability of a non-resident person

3.1.1 Interpretthemeaningofresidentstatusofanindividualorcompanyfortaxpurposes.

Meaningofresidentstatusofanindividualorcompanyfortaxpurposes.

3.1.2 Explainstatutoryprovisionswithregardtoestablishment“totheextentthattheincomearisesinorisderivedfromasourceinSriLanka”.

Statutoryprovisionswithregardtoestablishment“totheextentthattheincomearisesinorisderivedfromasourceinSriLanka”

3.1.3 Assesstheincomefromtheemployment,business,andinvestmentforanon-resident.

Incomefromtheemployment,business,investmentforanon-resident.

3.1.4 Assessthetaxableincomeandthetaxpayablethereonbyanon-residentperson.

Taxableincomeandthetaxpayablethereonbyanon-residentperson.

3.1.5 Explaintheliabilityofanagentofanon-residentperson.

Liabilityofanagentofanon-residentperson.

3.2 Remittance tax 3.2.1 Explaintheliabilityofanon-residentcompanyfortaxonremittances.

Liabilityofanon-residentcompanyfortaxonremittances

3.2.2 Computeremittancetaxpayablebyanon-residentcompany.

Remittancetaxpayablebyanon-residentcompany.

3.3 Double tax treaties

3.3.1 Explaintheissueofoverlappingtaxjurisdictionsandmethodsofavoidingdoubletaxation.

Issueofoverlappingtaxjurisdictionsandmethodsofavoidingdoubletaxation.

3.3.2 ExplainthemaindifferencesbetweentheOECDmodelandUNmodeloftaxtreaties.

DifferencesbetweentheOECDmodelandUNmodeloftaxtreaties.


Detailed Curriculum


3.3.3 Outlinetheprincipalaspectsoftheoperationofadoubletaxagreement(knowledgeofspecificdoubletaxagreementsisnotrequired).

Principalaspectsoftheoperationofadoubletaxagreement(knowledgeofspecificdoubletaxagreementsisnotrequired).

D. Statutory Provisions and Case Law : 10%


4.1 Statutory provisions

4.1.1 OutlinetheprovisionsoftheInlandRevenueActwithregardtotaxablesources,returns,assessments,time-bar,finality,administrativereview,appealsandpenalprovisions.

ProvisionsoftheInlandRevenueActwithregardtotaxablesources,returns,assessments,time-bar,finality,administrativereview,appealsandpenalprovisions.

4.1.2 OutlinetheprocedureinmakingavalidrequestforanAdministrativeReviewandthesettlementprocedure,includingappealstotheTaxAppealsCommission.

ProcedureinmakingavalidrequestforanAdministrativeReviewandthesettlementprocedure,includingappealstotheTaxAppealsCommission.

4.1.3 Outlinetheproceduresofpaymentoftaxunderself-assessmentscheme,repaymentoftax,recoveryoftaxindefaultandpenaltiesfornon-compliance.

Proceduresofpaymentoftaxunderself-assessmentscheme,repaymentoftax,recoveryoftaxindefaultandpenaltiesfornon-compliance.

4.1.4 Outlinethestatutoryprovisionsapplicabletorecoveryofincometax.

Statutoryprovisionsapplicabletorecoveryofincometax.

4.2 Case law 4.2.1 Statethefactsandprinciplesofdecidedtaxcases(Appendixl).

Thefactsandprinciplesofdecidedtaxcases(Appendixl).

4.3 Application of statutory provisions and case law

4.3.1 Demonstrateknowledgeandapplicationofstatutoryprovisions,andcaselawinthefollowing:• Practicaltaxissuesincludingclarificationoftaxabilityofvariousincome.

• Deductibilityofexpenses(expensestotheextenttheyareincurredduringtheyearbythepersonandintheproductionofincomefrombusinessorinvestment).

• Rightsandobligationsoftaxpayers.

Knowledgeandapplicationofstatutoryprovisions,andcaselawinthefollowing:• Practicaltaxissuesincludingclarificationoftaxabilityofvariousincome.

• Deductibilityofexpenses(expensestotheextenttheyareincurredduringtheyearbythepersonandintheproductionofincomefrombusinessorinvestment).

• Rightsandobligationsoftaxpayers.

4.3.2 Compilereportsandotherwrittencommunicationsincludingtaxappealsonpracticalissues.

Reportsandotherwrittencommunicationsincludingtaxappealsonpracticalissues.


E. Management of Value-Added Tax (VAT) : 15%

Knowledge Component Learning Outcome Specific knowledge5.1 Obligations of a

VAT-registered person

5.1.1 Assesstheoutputtax,inputtaxandbalancetaxpayablebyaregisteredpersoninbusinesswhichcarriesoutmultipleactivities.

Outputtax,inputtaxandbalancetaxpayablebyaregisteredpersoninbusinesswhichcarriesoutmultipleactivities.

5.1.2 Advisethestatutoryobligationswithregardtofurnishingreturns,paymentoftaxanddocumentation.

Statutoryobligationswithregardtofurnishingreturns,paymentoftaxanddocumentation.

5.2 VAT on Financial Services

5.2.1 Explainthemeaningoffinancialservicesandcomputationofvalueaddition.

Meaningoffinancialservicesandcomputationofvalueaddition.

5.2.2 AssessVATpayablebyapersoncarryingonabusinessoffinancialservices.

VATpayablebyapersoncarryingonabusinessoffinancialservices.

5.3 Simplified VAT Scheme

5.3.1 AssesstheVATliabilityofaregisteredidentifiedpurchaserandregisteredidentifiedsupplier.

VATliabilityofaregisteredidentifiedpurchaserandregisteredidentifiedsupplier.

5.3.2 OutlinethesignificantfeaturesoftheSimplifiedVATScheme.

SignificantfeaturesoftheSimplifiedVATScheme.

5.4 Managing VAT in a business

5.4.1 ExplainstatutoryprovisionsoftheVATActwithregardtoassessments,time-barforassessments,appealsandappealsettlementprocedure.

StatutoryprovisionsoftheVATActwithregardtoassessments,time-barforassessments,appealsandappealsettlementprocedure.

5.4.2 AnalyseVATissuesinacomplexbusinessenvironmentandprovideappropriateactionstomitigatesuchsituations.

VATissuesinacomplexbusinessenvironmentandprovideappropriateactionstomitigatesuchsituations.

5.4.3 Adviseonvalueofsupplieswithregardtodifferentactivities.

Valueofsupplieswithregardtodifferentactivities.

F. Tax Planning And Advising : 10%


6.1 Fiscal incentives and limitation

6.1.1 Outlinemajortaxholidays,exemptionsandotherincentivesgrantedundertheInlandRevenueActandBoardofInvestmentLaw.

Majortaxholidays,exemptionsandotherincentivesgrantedundertheInlandRevenueActandBoardofInvestmentLaw.

6.1.2 Proposealternativetaxincentivesforagivensituationandtheirlimitations.

Alternativetaxincentivesforagivensituationandtheirlimitations.

6.2 Transfer pricing 6.2.1 Explainstatutoryprovisionsrelevanttotransferpricing(includingtheconceptof“arm’slengthprice”andprescribed(gazetted)methodsoftransferpricing).

Statutoryprovisionsrelevanttotransferpricing(includingtheconceptof“arm’slengthprice”andprescribed(gazetted)methodsoftransferpricing).


Detailed Curriculum


6.2.2 Criticallyanalysepricingpoliciesappliedbybusinessesindomesticandinternationaltransactions,withemphasisonthevalidityofsuchpolicies.

Pricingpoliciesappliedbybusinessesindomesticandinternationaltransactions,withemphasisonthevalidityofsuchpolicies.

6.3 Tax planning 6.3.1 Compileeffectiveandlegitimateplansandmeasuresforbusinessesinordertominimisetaxexpenditureundergivenscenarios,consideringopportunisticstatutoryprovisions,fiscalincentivesandlimitations.

Effectiveandlegitimateplansandmeasuresforbusinessinordertominimisetaxexpenditureundergivenscenarios,consideringopportunisticstatutoryprovisions,fiscalincentivesandlimitations.

6.3.2 Criticallyanalysepolicies,arrangementsandagreementsofcorporateandindividualtaxpayerswiththeirexposuretodisregardundertheclause“artificialorfictitioustransactions”.

Policies,arrangementsandagreementsofcorporateandindividualtaxpayerswiththeirexposuretodisregardundertheclause“artificialorfictitioustransactions”.

6.4 Providing tax advise

6.4.1 Compilesolutionsforissuesraisedbytaxauthoritybasedontaxpayerrightsestablishedunderstatutesandrelevantcaselaw(fromcaseslistedinAppendixI).

Solutionsforissuesraisedbytaxauthoritybasedontaxpayerrightsestablishedunderstatutesandrelevantcaselaw(fromcaseslistedinAppendixI).

6.4.2 Adviseforvariouspracticaltaxissues(includingassessments,interpretations,recoveryandpenalactionandlitigation).

Variouspracticaltaxissues(includingassessments,interpretations,recoveryandpenalactionandlitigation).

6.5 Communication 6.5.1 Compilereportsandotherformalinternalandexternalcommunicationswithregardtotaxplanningmeasuresandadvising.

Reportsandotherformalinternalandexternalcommunicationswithregardtotaxplanningmeasuresandadvising.

G. Contemporary Issues In Taxation : 10%

Knowledge Component Learning Outcome Specific knowledge7.1 New tax

legislations7.1.1 Explainthesignificantchangesto

taxlegislationenactednotlaterthantheimmediatesixprecedingmonthsandtheimpactoncorporateandindividualtaxation.

Significantchangestotaxlegislationenactednotlaterthantheimmediatesixprecedingmonthsandtheimpactoncorporateandindividualtaxation.

7.1.2 Evaluatetheimpactonchangesintaxlegislationstovariousbusinessactivities.

Impactonchangesintaxlegislationstovariousbusinessactivities.


Knowledge Component Learning Outcome Specific knowledge7.2 Financial

reporting and taxation

7.2.1 Evaluatetheimpactofchangesinfinancialreportingstandardstotaxationtogetherwithrelevantguidelinesissuedbythetaxauthority.

Impactofchangesinfinancialreportingstandardstotaxationtogetherwithrelevantguidelinesissuedbythetaxauthority.

7.3 Taxation and ethics

7.3.1 Outlineprovisionssetoutinthe“CodeofprofessionalconductandEthics”withregardtodisclosureofinformation,conflictofinterest,confidentialityandimplicationsforataxpractice.

Provisionssetoutinthe“CodeofprofessionalconductandEthics”withregardtodisclosureofinformation,conflictofinterest,confidentialityandimplicationsforataxpractice.

7.4 Professional risk 7.4.1 Outlinethepenalprovisionsapplicabletoaccountants,auditorsandtaxpractitionersinrespectoffraudsandincorrectreturns.

Penalprovisionsapplicabletoaccountants,auditorsandtaxpractitionersinrespectoffraudsandincorrectreturns.

Appendixl

Subject Matter Name of the Case Reference

ProfitfromEmployment

• CribvCommissionerofIncomeTax• SutherlandvCommissionerofIncomeTax• KanagasabapathyvCommissionerGeneralofInlandRevenue

• CTC–Volume1• CTC–VolumeI• SLTC–VolumeIV

ProfitsandincomearisinginorderivedfromSriLanka

• Anglo-PersianOilCo.Ltd.vCommissionerofIncomeTax• Chivers&SonsLtd.vCommissionerofIncomeTax

• CTC–Volume1• CTC–Volume1

Incomefromanyothersource

• WickramasinghevCommissionerofIncomeTax • CTC–Volume1

Adventureorconcerninthenatureoftrade

• D.S.MahawitharanavCIR• RamIsweravCIR• CommissionerofIncomeTaxvC.S.DeZoysa• RutledgevCIR• CIRvLivingstoneandOthers• IRCvFraser• CIRvReinhold• MartinvLawry

• CTC–VolumeIII• CTC–VolumeIII• CTC–VolumeI• 14TC490• 11TC538• 194224TC498• 34TC389• 11TC297

Annuity • TheCommissionerofInlandRevenuevJ.M.Rajarathnam • CTC–VolumeIII

Partnerships • A.A.DavoodbhoyvCommissionerGeneralofInlandRevenue

• SLTC–VolumeIV


Detailed Curriculum

Subject Matter Name of the Case Reference

Capitalandrevenueexpenditure

• VallambrosaRubberCo.Ltd.vFarmer• HancockvGeneralReversionary&InvestmentCo.Ltd.• ArthertonvBritishInsulated&HelsbyCablesLtd• TheobaldvCommissionerofIncomeTax• AssociatedPortlandCementManufacturingCo.vKerr• MitchellvNoble• HaughtonTeaCompanyLimitedvCommissionerofIncomeTax

• LawShippingCoLtdvCIR• OdeonAssociatedTheatresLtdvJones• TheNationalMutualLifeAssociationofAustraliaLtd.vCommissionerofIncomeTax

• 05TC529• 07TC358• 10TC155• TC–VolumeI• 27TC103• 11TC372• CTC–VolumeI

• 12TC621• 48TC257• CTC–VolumeI

Expensesincurredinproductionofprofits&income

• HeyleyandCo.LtdvTheCommissionerofInlandRevenue• CommissionerofInlandRevenuevA.W.DavithAppuhamy• StrongvWoodifield• RajapaksevCommissionerofIncomeTax

• CTC–VolumeIII• CTC–VolumeIII• 05TC215• CTC–VolumeI

Reasonsforrejectionofthereturns

• D.M.S.FernandoandAnothervMohideenIsmail• NewPortmanLtdvW.JayewardeneandOthers

• 04CTC156• SLR–307,Vol1of

1989Meaningofplant • ThornhillvCommissionerofIncomeTax

• ChelvanayakamvCommissionerofIncomeTax• CTC–VolumeI• S.C.148-(Inty)


Pillar : Business Management & StrategyCourse Unit : Strategic Management and LeadershipMain Curriculum Areas Weightage Notional hours

A. Strategyandcompetitiveadvantages 10% 35

B. Environmentanalysisandstrategicposition 10% 35

C. Strategyformulation 40% 140

D. Strategyimplementationandcontrol 20% 70

E. Technologyanddataanalyticsinstrategicmanagement 10% 35

F. Strategiesforinternationalisation 10% 35

Total 100% 350


Detailed Curriculum

A. Strategy and Competitive advantages : 10%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Basic concepts

of Strategic Management

1.1.1Examinebasicconceptsofstrategicmanagement.

Definitionsofstrategyandcompetitiveadvantage.

1.1.2Inspectthecharacteristicsofstrategicdecisionsandlevelofstrategies.

Characteristicsofstrategicdecisionsandlevelofstrategies.

1.1.3 Recognisethestrategicmanagementprocessforanbusinessentityindifferentperspectives.

StrategicManagementProcess(Basedondifferentmodels.E.g.RationalModel).

1.1.4DiscussthenatureandobjectivesofthestakeholdersincludinganalysisofstakeholdersbyusingMendelowMatrixandstrategiestomanagestakeholders.

Valuecreationandstakeholdermanagement.

1.2 Challenges of Strategic Management

1.2.1InvestigatethechallengesofStrategicManagementindynamicBusinessEnvironment.

ChallengesofStrategicManagementinDynamicEnvironment(Globalisation/TechnologydevelopmentandenvironmentSustainabilityetc.).

1.2.2AnalysetheapplicationofTriple“P”modelforthestrategicmanagementprocess.

Triple“P”model.

1.3 Organisational Adaptation and Learning Organisation

1.3.1Examinethetheoriesoforganisationaladaptation.

Theoriesoforganisationaladaptation.

1.3.2InvestigatetheapplicationKnowledgeManagementinStrategicManagementProcess.

KnowledgeManagement.

1.3.3InspecttheapplicationofLearningOrganisationinStrategicDecisionMaking.

LearningOrganisation.

1.3.4DiscussthetriggeringeventsforInitiationofStrategiesinorganisations.

TriggeringeventsforInitiationofStrategies.

B. Environment Analysis and Strategic Position : 10%

Knowledge Component Learning Outcomes Specific Knowledge 2.1 Environment

Scanning and Industry Analysis

2.1.1Definetheorganisationalenvironmentandidentifythemainelementsoforganisationalenvironment.

Theorganisationalenvironmentandmainelementsoforganisationalenvironment.

2.1.2Analysethemicroenvironmentanddiscusshownewtrendsaffectingtothebusinessorganisation.

Analysisofmicroenvironment(maincomponentsandnewtrends).


Knowledge Component Learning Outcomes Specific Knowledge 2.1.3Analysethemacroenvironment

anddiscusshownewtrendsaffectingtothebusinessorganisation.

Analysisofmacroenvironment(PESTEEL)(maincomponentsandnewtrends).

2.1.4Analysetheindustriesindifferentperspectivesbyadoptingvariousindustryanalysisconcepts/models.

IndustryAnalysis(TheDynamicsofIndustrystructure/StrategicGroups/FiveForcesModeletc.)

2.1.5Investigatethestrategicimplicationsintheeachstageofindustrylifecycle.

Industrylifecycle.

2.2 Organisation and Capability Analysis

2.2.1 Examinethecompetitiveadvantageofanorganisationbasedontheresource-basedview(RBV).

Theresource-basedview(RBV).

2.2.2 AssessthestrategiccapabilitiesofanorganisationbasedonVRIO(Valuable,Rare,Inimitable,Organised)framework.

VRIOframework.

2.2.3 Investigatestrengthsandweaknessesofanorganisationbasedonavailabilityoffunctionalresourcesandvaluechainanalysis.

Functionalresourcesandvaluechainanalysis.

2.2.4Inspectstepsoftheresourceauditforunderstandingstrengthsandweaknessesofanorganisation.

ResourceAudit.

2.2.5Analysebusinessmodelsadoptedbytheorganisationsindifferentperspectives.

Analysisofbusinessmodels.

2.2.6Investigatetheapplicabilityofbenchmarkingofstrategiccapabilitiesforbusinessvaluecreations.

Benchmarkingofstrategiccapabilities.

2.3 Strategic Factors 2.3.1DiscussstrategicmodelsforPrioritisingandsynthesisofstrategicfactors.

PrioritisingandSynthesisofstrategicfactors.

2.3.2ApplySWOTanalysisforstrategicdecisionsofanorganisation.

SWOTanalysisandactionpriorities.

2.3.3ApplyTWOSMatrixforstrategicdecisionsofanorganisation.

TWOSMatrix.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge 2.4 CSR and Ethics 2.4.1Discusstheimportanceof

cooperatesocialresponsibility(CSR)forbusinessorganisation.

NatureandscopeofCSR.

2.4.2Investigatetypesofsocialresponsibilityindifferentperspectives.

Typesofsocialresponsibility (e.g.carollpyramid).

2.4.3Examinetheethicsinbusinessandreasonsforunethicalbehaviorofemployees/managers.

Ethicsinbusinessandreasonsforunethicalbehavior.

2.4.4Recommendguidelinesforethicalbehaviorofemployees/managers.

Guidelinesforethicalbehavior.

C. Strategy Formulation : 40%


3.1 Strategic Directions and Type of Strategies

3.1.1Designstrategicvision,missionandvaluesoftheorganisations.

Strategicvision,missionandvalues.

3.1.2Designstrategicgoals,objectivesandtargetsoftheorganisations.

Strategicgoals,objectivesandtargets.

3.1.3Assessmainstrategiclevelsandtypesofstrategiesoftheorganisation.

Strategiclevelsandtypesofstrategy.

3.1.4Toanalysedifferentperspectivesofmanagersregardingdevelopmentandimplementationofstrategies.

StrategicLenses.

3.2 Role of Corporate Culture in Strategy Development

3.2.1Defineorganisationalcultureanddiscussthemainelementsoforganisationalculture.

Organisationalcultureandmainelementsoforganisationalculture.

3.2.2Analysetendenciesforstrategicdriftandrecommendtheactionstoavoidthestrategicdriftoftheorganisations.

Strategicdriftandmanagingstrategicdrift.

3.2.3Examinedifferentlayersoforganisationalcultureandinvestigateculturalinfluencesexistateachlevel.

Layersoforganisationalcultureandculturalframesofreference.

3.2.4Analyseorganisationalcultureindifferentperspectives.

Modelsforculturalanalysis(CharlsHandy,CulturalWeb,EdgarSchein-CulturalModeletc.).

3.2.5Examinetheroleoforganisationalcultureindevelopingandimplementationofstrategies.

Culture’sinfluenceonstrategy.



3.3 Business Strategy 3.3.1ExaminethecriteriontobeusedinidentifyingSBUsanddiscussthenatureofcompetitivestrategiesappliedinseparateSBUs.

StrategicBusinessUnit(SBU)andcompetitivestrategies.

3.3.2AssessthePorter’sgenericcompetitivestrategiesfordevelopingcompetitiveadvantagesofbusinesses.

Porter’sgenericcompetitivestrategies.

3.3.3Assessthestrategyclockfordevelopingcompetitivestrategiesofbusinesses.

Competitivestrategiesbasedonthestrategyclock.

3.3.4Assessmilitaryanalogiesfordevelopingoffensiveanddefensivestrategiestomarketleader,challengerandfollowers.

Offensivevs.defensivestrategies.

3.3.5Assesstheblueoceanvs.redoceanstrategiesfordevelopingcompetitiveadvantagetothebusinesses.

Blueoceanvs.redoceanstrategies.

3.3.6Assesstheproductmarketexpansiongrid(AnsoffMatrix)fordevelopinggrowthstrategiesforthebusinesses.

Productmarketexpansiongrid(AnsoffMatrix).

3.3.7Recommendmostappropriatecompetitivestrategiesforbusinessesbasedongametheory.

Gametheory.

3.4 Functional Strategies and Strategic Choice

3.4.1Assessmostappropriatemarketingstrategiesforimplementingbusinessstrategiesintheoperationalleveloftheorganisation.

Marketingstrategies(STP,Marketingmixstrategies,E-marketingstrategiesetc.)

3.4.2Assessthemostappropriateoperationmanagementstrategiesforimplementingbusinessstrategiesintheoperationalleveloftheorganisation.

Operationsmanagementstrategies(E.g.Modernoperationmanagementtechniques,Qualitymanagementtechniques,Projectmanagementtechniques,Warehousing,InventorymanagementandSupplychainmanagementtechniquesetc.withnewtechnologyapplication).


Detailed Curriculum


3.4.3AssessthemostappropriateResearchandDevelopmentstrategiesforimplementingbusinessstrategiesintheoperationalleveloftheorganisation.

ResearchandDevelopmentstrategies(e.g.Newproductdesigningandinnovations,Acquisitionoftechnologyetc.).

3.4.4Assessthemostappropriatepurchasingstrategiesforimplementingbusinessstrategiesintheoperationalleveloftheorganisation.

Purchasingstrategies(OutsourcingandBPO,e-procurements,backwardintegrationetc.).

3.4.5AssessthemostappropriateHRMstrategiesforimplementingbusinessstrategiesintheoperationalleveloftheorganisation.

HRMstrategies(e.g.Tacticsandprocessesoftalentmanagement).

D. Strategy Implementation and Control : 20%

Knowledge Component Learning Outcomes Specific Knowledge 4.1 Strategic Evaluation

4.1.1 AnalysetheSuitability,Feasibility,Acceptability(SFA)ofbusinessstrategiesfordevelopingcompetitiveadvantage.

Suitability,Feasibility,Acceptability(SFA)analysis.

4.1.2DiscusstheapplicationofMcKinsey’s7Smodelforevaluatingandimplementationofcompetitivestrategies.

McKinsey’s7Smodel.

4.1.3Assessthefinancialandnon-financialcriteriaforevaluatingstrategiesinbusinesses.

Financialandnon-financialcriteriaforevaluatingstrategies.

4.2 Organisational Design

4.2.1Investigatetheintegrationbetweenbusinessstrategyandorganisationalstructure.

Strategyandstructure.

4.2.2Analysethetypesoforganisationalstructuresbasedonthedifferentstagesoforganisationallifecycle.

Organisationallifecycleandstructures.

4.2.3Examinethenatureoforganisationalstructuresrequiredinturbulentenvironment.

Organisationalstructuresinturbulentenvironment.

4.2.4Discusstheapplicationofbusinessprocessre-engineeringforre-structuringprocessoftheorganisations.

Businessprocessreengineering.



4.3 Managing Change 4.3.1 Analysetheroleofchangeagentindifferentchangetriggers.

Roleofchangeagentandchangetriggers.

4.3.2 Inspecttheresistancetochangeandrecommendthestylesofmanagingchangetoovercomethoseresistance.

Resistancetochangeandstylesofmanagingchange.

4.3.3 Applymodelsofchangemanagementforplanningandimplementingchangeprocessofanorganisation.

Modelsformanagingchange(e.g.KurtLewin’smodel,JohnKotter’smodel).

4.4 Monitoring and Implementation Process

4.4.1Formulateanactionplanforimprovingtheeffectivenessforstrategyimplementation.

Preparinganactionplan.

4.4.2Analysetheapplicabilityofmanagementbyobjectives(MBO)forstrategyimplementation.

Managementbyobjectives(MBO).

4.4.3Appraisecriticalsuccessfactors(CSFs)andrecommendtheappropriatekeyperformanceindicators(KPIs)formeasuringtheperformances.

CSFsandKPIs.

4.5 Strategic Control

4.5.1Developappropriatecontrolsystemstosupportstrategicmanagementprocess.

Strategiccontrollingprocess.

4.5.2Examinethetypesandtoolsofstrategiccontrolappliedinthedynamicbusinessenvironment.

Typesandtoolsofstrategiccontrol(IncludingBalancedScorecardApproach).

4.5.3Examineproblemsinmeasuringperformancewiththepurposeofrecommendingthesolutions.

Measuringperformances(Problemsandsolutions).

4.5.4Examinetheapplicationsofstrategicincentivemanagementinstrategiccontrol.

StrategicIncentiveManagement.

E. Technology and Data Analytics in Strategic Management : 10%


5.1 Cloud and Mobile Technology in Strategic Management

5.1.1Discusstheapplicationofnewtechnologyforimprovingproductivityoftheorganisations.

Roleoftechnologyinstrategicmanagement.

5.1.2Examinetheroleofcloudcomputingandmobiletechnologyinstrategicmanagementprocess.

Anoverviewofcloudandmobiletechnologysoftware/solutions.


Detailed Curriculum


5.1.3Analysebenefitsandrisksofusingcloudandmobiletechnologyfortheorganisations.

Benefitsandrisksofcloudandmobiletechnology.

5.1.4Inspecttheapplicationofenterpriseresourceplanning(ERP)toenhancetheproductivityoftheorganisations.

Enterpriseresourceplanning(ERP).


5.2 Big data and Data Analytics for Strategic Management

5.2.1Discussthemeaning,natureandimportanceofbigdatafortheorganisations.

Anoverviewofbigdata.

5.2.2Evaluatetheapplicationofbigdataforstrategicmanagementprocess.

Applicationofbigdataforstrategicmanagementprocess.

5.2.3Investigatetheopportunitiesandthreatsofusingbigdataformanagingorganisations.

Opportunitiesandthreatsofbigdata.

F. Strategies for Internationalisation : 10%


6.1 Need for Internationalisation

6.1.1DiscussthemotivesforInternationalisationofthebusinesses.

MotivesforInternationalisation.

6.1.2 Examinethechallengesofinternationalmarkets.

Challengesofinternationalmarkets.

6.1.3 Analysethekeydriversforinternationalisationofbusinesses.

Driversofinternationalisation.

6.2 Evaluation of International Markets

6.2.1 ApplytheHofstede’sFrameworkoncultureforunderstandingcrossculturalenvironment.

Hofstede’sFrameworkonCulture.

6.2.2 Applydifferentmodelsforevaluatingandselectionofinternationalmarkets.

Modelsforevaluatinginternationalmarkets(e.g.TheCAGEframework/12CFRAMEWORK/Porter’sDiamondModel).

6.3 Selection of International Markets and Strategies

6.3.1 Analysedifferentmodelsforselectinginternationalmarketsandstrategies.

Modelsforselectinginternationalmarket(e.g.HarrellandKieferModel).

6.3.2 Analysetheconcentrationvs.diversificationinglobalmarkets

Showerapproachvs.waterfallapproach.

6.3.3 Recommendmostappropriateentrymodesfordifferentmarkets

Marketentrystrategies.


Pillar : Business Management & StrategyCourse Unit : Integrated Case StudyMain Curriculum Areas Weightage Notional hours

A. Corporatefinanceandriskmanagement 20% 120

B. Taxandregulatoryenvironment 10% 60

C. Corporategovernance,ethicsandcontrolenvironment 5% 30

D. Businessandfunctionalstrategy 20% 120

E. Corporatestrategy 25% 150

F. Contemporaryissuesinaccounting,financeandmanagement

20% 120

Total 100% 600


Detailed Curriculum

A. Corporate Finance and Risk Management : 20%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Financial

Feasibility and Funding

1.1.1 ProposeStrategicdecisionsforselectingprojectswithconsideringitsfinancialfeasibility.

Financialfeasibilityusingalternativevaluationmethods.Scenarioanalysis(stresstesttheassumptionsusedandconductascenarioanalysis(separately/Asawhole).ThegapbetweenROICandcostoffunds(compareROICoftheprojectwiththecostoffundstodeterminewhetherreturnsexpectedareinlinewiththeriskassumed).

1.1.2Proposethebestpossiblefundingstrategyforinvestmentsandexpansions.

Thecurrentcapitalmarketconditionsforanequityissue.Theimpactofdilutedcontrolandadditionalcostofcomplianceresultingfrompublicoffer.Creditmarketconditions(todeterminetheoptimaltimingandnatureincludinglistedbondsandbankloansofborrowingstobesourced).

1.1.3Adviseonariskmanagementpolicyforthecompany.

Exchangeriskandcountryrisk,incaseofcross-borderfilings.

(Includingtheuseofstructuredproducts,derivatives,legalproceduresincludingdisclaimers,copyrightandpatentsandoperationalmechanismsincludingsupplierandcustomerdiversification).Thepolicyshouldalsocover:Exchangerisk,Creditrisk,Interestraterisk,Operationalrisk,Legalrisk,Physicalrisk,LegalriskandReputationrisk.

B. Tax and Regulatory Environment : 10%

Knowledge Component Learning Outcomes Specific Knowledge2.1 Corporate Tax

Planning 2.1.1Compileinformationontax

implicationsapplicabletoabusinessdecisions.

Structuringtheprojecttomaximisetaxbenefits(periodandthereductioninrate)

2.1.2Adviseacompanytoselectappropriatetaxconcessionsapplicabletothebusiness.

Thevalueoftaxbenefits(PVoftaxsavings),ifanyconcessionsareavailable.

2.1.3Designastrategyoncorporatetaxplanningandcompliances.

Structuringtheoperationstooptimisethetaxliabilitywithintheconditionsthatneedtobecompliedwith,inordertoobtaintaxbenefitsandadditionalcostsofcompliance.


Knowledge Component Learning Outcomes Specific Knowledge2.2 Regulatory

Environment 2.2.1Compileinformationonthe

applicableregulatoryenvironment,ensuringthatthecompanyoperationsareincompliancewithsuchframework.

Checklistforregulatoryrequirements.

2.2.2Designasystemtocomplywiththeregulatoryframeworkforthebusiness.

Complianceofficers&internalprocesses.

C. Corporate Governance, Ethics and Control Environment : 5%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Corporate

Governance and Ethics

3.1.1Criticisethepracticeofinvestingincountries,industriesandcompaniesthataresubjecttocontroversialgovernanceandethicalpractices.

Controversialhumanrightrecords.Childlabourpractices.

Fraudandcorruption.

Non-compliancewithacceptedgovernanceandethicalpracticesassetoutbyprofessionalbodies.

3.2 Control Environment

3.2.1Adviseoncontrolenvironmentandcontrolproceduresrequiredtominimisetheriskoffraudandirregularities.

FraudRiskAssessments,FraudRiskManagement.

3.3 Financial Projections

3.3.1Adviseonthereasonablenessoffinancialprojectionsrelatedtostrategicdecisions.

Analyticalreviewproceduresandothercommonlyacceptedanalyticaltools.

D. Business and Functional Strategy : 20%


4.1 Business Strategies and Competitive Advantages

4.1.1Applybusinessstrategiesbasedonanappropriatestrategicmodeltoenhancecompetitiveadvantageofaparticularstrategicbusinessunit.

PortersGenericStrategies,StrategicClock,GameTheory,BlueOceanvs.RedOcean,etc.

4.2 Functional Strategies

4.2.1Proposeappropriatestrategicalternativesinbusinessfunctionswiththepurposeofimplementingthecorporateandbusinessstrategies.

StrategiesforMarketingManagement(STPandmarketingmix).

4.2.2Proposeanactionplantoimplementthefunctionalstrategiesindynamicenvironment.

StrategiesforManagingHumanCapitalandEmotionalIntelligence.

StrategiesforInformationManagement.

StrategiesforTechnologyandInnovationManagement(Researchanddevelopmentstrategies).


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge4.3 Technology in

Business4.3.1DesignStrategicbusinessmodels

basedonthetechnologicalinnovationsindynamicenvironment.

ApplicationsofBigdata&DataAnalytics.MachineLearning&ArtificialIntelligence.ApplicationsofSocialMediaandonlinebusiness.ApplicationsofFinTech.

E. Corporate Strategy : 25%

Knowledge Component Learning Outcomes Specific Knowledge5.1 Environment

Analysis5.1.1Analysethemicroandmacro

environmentforidentifyingstrategicfactorswiththepurposeofdevelopingcorporatestrategiesforbusinesses.

InternalCapabilityAnalysis.

AnalysisofTaskEnvironment.

5.1.2Compiletheresultsofenvironmentalanalysis,todecidethestrategicdirectionsfororganisations.

AnalysisofGeneralenvironment(PESTEL,International).IndustryAnalysis.SWOTanalysisandactionprioritiesthroughTOWSmatrix.

5.1.3Compilenecessaryinformationforunderstandingthestrategicplanninggapofthecorporation.

GapAnalysis.

5.2 Strategy Formulation

5.2.1Proposeappropriatedirectionalstrategiesadoptedbyorganisationstofulfillstrategicplanninggap.

GrowthStrategies(Concentrationanddiversification),StabilityStrategies,RetrenchmentStrategies.

5.2.2EvaluateabusinessportfolioandproposestrategiesbasedonstrategicpositionofdifferentSBUsinorganisation.

BCGmatrix,GEmatrix,ShellDirectionalMatrix,ADLmatrix,etc.

5.2.3Recommendappropriateparentingstrategiesforsubsidiariesandassociatecompaniesundertheparentcompany.

Value-addedandvalue-destroyingactivitiesofcorporateparents,strategicalternativesbasedonparentingfitmatrix.

5.2.4RecommendappropriateMergers&Acquisitionsinordertoenhancecorporatevalueofcorebusiness.

Merger&Acquisitionsanditsimportance.IntegrationandConglomeration.

TheMerger&Acquisitionslifecycle.

MeasuringthesuccessofMerger&Acquisitions.



5.2.5Recommendappropriatestrategiestoexpandthebusinessbasedonalternativeintegratedbusinessstrategies.

StrategicAlliances,JointVentures,Franchising.NewInvestments(Ex:Brownfield/Greenfield),

5.3 Strategy Implementation and Controlling

5.3.1Designcriteriaforevaluatingstrategicoptionsavailabletoanorganisation. (includingJohnsonandScholes’SAFCriteria)andproposeeffectivecommunicationformatsforreportingrecommendations.)

Strategicevaluation.

5.3.2Designappropriatesystemsforstrategyimplementation.

Strategyinaction[Re-structuringandBusinessProcessesRe-engineering(BPR),etc.]

5.3.3Designappropriatesystemsforstrategiccontrol.

StrategicControl.

F. Contemporary Issues in accounting, finance and management: 20%


6.1.1 EvaluateContemporaryissues/DevelopmentsinAccounting&FinanceandRecommendappropriatestrategiesformanagingthoseissuestoenhancesustainablebusinessgrowth.

• CurrentIssues&developmentsin,• EnvironmentalAccounting• SustainableReporting• CorporateGovernance• FinancialStatementsFrauds&EarningsManagement

• ForensicAccounting• BehavioralAccounting&Finance• CapitalMarketDevelopments• FinancialTechnology• DigitalisedAccounting• HumanResourceAccounting• FinancialModelling


Detailed Curriculum

Pillar : Professional SkillsCourse Unit : Strategic Business CommunicationKnowledge Component Weightage Notional hours

A. Publicspeakingskills(speechcraft) 40% 100

B. Negotiation&conflictresolutionskills 20% 50

C. Personalbranding&businessetiquette 20% 50

D. AdvancedBusinessReportWritingSkills 20% 50

Total 100% 250


A. Public Speaking Skills : 40%

Knowledge Component Learning Outcomes Specific Knowledge1.1 Understanding

Communication Processes & Different Purposes

1.1.1Distinguishthekeyelementsofthecommunicationprocess:Sender,Receiver,Message,andResponse.

Elementsofthecommunicationprocess.

1.2 Public Speaking 1.2.1Identifythepurposeofagivenspeech(argumentative,persuasive,tomotivate)&assesstheneedsandprioritiesofapotentialaudiencetodevelopaspeech.

Differenttypesofspeechestosuittheoccasion.

1.2.2Composespecialoccasionspeeches.

1.2.3Structureaspeechtoachievealogicalflow.

1.2.4Demonstrateanelevatorpitch.

1.3 Techniques for Effective Presentations

1.3.1Identifydifferentmethodsofovercomingbarriersthathindereffectivespeaking(Controllingperformanceanxiety).

Components/aspectsofpresentations.Differentmethodsofovercomingbarriersthathindereffectivespeaking(Controllingperformanceanxiety),Verbalandnon-verbalcommunication(modulatingvocaltone,bodylanguage,facialexpression,andtiming)useofvisuals.

1.3.2Produceattractive,effectiveandappropriatePowerPointslideswiththerightamountofdetail.

1.4 Delivery of Speeches 1.4.1 Composeanddeliverimpromptuspeeches(4-5mins).

Deliveryofimpromptu&preparedspeeches.

1.4.2Composeanddeliverpreparedshortspeeches.

1.5 Assessing Speeches 1.5.1Evaluateotherspeakersusingdifferentelementsofspeechaccordingtothecriteriagiven.

Differentelementsofaspeech.

1.5.2Recognisebodylanguageeffectivelyandtounderstandtheimplicitmeaningsconveyedbyspeakersaccurately.

B. Negotiation & Conflict Resolution Skills : 20%

Knowledge Component Learning Outcomes Specific Knowledge2.1 Nature of Conflict &

Types of Conflict2.1.1Differentiatebetweentypesof

conflicts.Typesofconflicts.

2.2 Stages of Conflict 2.2.1Identifythestagesofconflictinovercomingthemeffectively.

Stagesofconflicts.


Detailed Curriculum

Knowledge Component Learning Outcomes Specific Knowledge2.3 Conflict Resolution

Skills

2.3.1Integratedifferentconflictresolutionskillsinresolvingpossibleconflictsituationsatdifferentstages.

Differentconflictresolutionskills.

2.3.2Identifynon-verbalcommunicationincludingtonalvariationsandbodylanguageineffectivenegotiations.

2.4 Personal and Social Styles in Conflict Resolution

2.4.1Identifyhowpersonalandsocialstylesaffectconflictresolution.

Personalandsocialstylesinconflictresolution. 2.4.2Distinguishdifferentpersonality

types&theirimpactonnegotiation.

2.5 Language of Negotiation

2.5.1Practicetheuseofappropriatephrases&politenessmarkerseffectivelyinnegotiation&useappropriatebodylanguage,Practicetheappropriateintonation&stresspatterns.

Negotiationskills.

2.6 Negotiation Strategies

2.6.1Applyandpracticedifferentnegotiationstrategieswhilerecognisingtheirpossibleramifications.

Differentnegotiationstrategies.

2.7 Power in Negotiation

2.7.1Recognisetheroleplayedbypowerdynamicsinnegotiation.

Differentstrategiestonegotiatepowerdynamics. 2.7.2Applydifferentstrategiesto

negotiatepowerdynamics.C. Personal Branding & Business Etiquette : 20%

Knowledge Component Learning Outcomes Specific Knowledge3.1 Branding

3.1.1Recognisebrandinganditscriticalroleinmarketingoneself.

Personalbranding.

3.1.2Developeffectivecommunicationskillstoenhanceone’sbrandvalue.

3.2 Elements of Personal Branding

3.2.1Recognisetheelementsofpersonalbranding.

Elementsofpersonalbranding,Differencebetweenimageandidentity.

3.2.2Distinguishthedifferencebetweenimageandidentity.

3.2.3Developtheabilitytocraftone’simagebyusingtheaboveoutcomes.


Knowledge Component Learning Outcomes Specific Knowledge3.3 Business Etiquette

3.3.1Practicetheprinciplesofbusinessetiquette.

Principlesofbusinessetiquette&rulesofpersonalconduct. 3.3.2Identifytherulesofpersonal

conductincludingguidelinesonhowtopreventsexualharassment.

3.4 Attire, Grooming and Body Language

3.4.1Demonstratetheadoptionofappropriateattire,grooming,andbodylanguageincreatingapositivepersonalimage.

Importanceofattire,grooming,andbodylanguage.

3.5 Dinning Etiquette 3.5.1Practicetheacceptablemannertoconsumefoodandbeveragesinasocialsetting.

Properwaystoconsumefoodandbeveragesinasocialsetting.

D. Advanced Business Report Writing Skills : 20%

Knowledge Component Learning Outcomes Specific Knowledge4.1 Writing an Academic

Text 4.1.1 Develop&writeanextended

essay(FollowIntegratedCaseStudyguidelines).

Differenttypesofessays(includingargumentative,causeandeffect,problem,solution)foracademicpurposes.

4.2 Developing an Academic Report

4.2.1 Comprehendkeycomponentsofanacademicresearcharticle.

Characteristicsofanacademicreport.

4.2.2Developanoutlinethatarrangesmainideasinsupportofthepurposeandmainmessage.

Organisationofthereport.

4.2.3Composespecifictypeofreportcoherently&cohesivelyinlinewithIntegratedCaseStudyrequirements.

Formalschemaregardinganacademicreport.

4.2.4Developspecifictypesofreportscoherently&cohesively.

Formalschemaregardingbusinesstexts.

4.2.5Applyreferencingtechniquesinreport.

Techniquesofreferencing.


Detailed Curriculum

Pillar : IT Training pillar Course Unit : Information Technology & Data AnalyticsMain Curriculum Areas Weightage Notional hours

A.ITandStrategy 20% 50

B.ContemporarytopicsinIT 25% 62

C.Businessinformationsystems/EnterpriseResourcePlanning(ERP) 20% 50

D.Businessanalytics 15% 38

E.Auditapplications 20% 50

Total 100% 250


A. IT and Strategy : 20%

Knowledge Component Learning Outcomes Specific Knowledge1.1 IT and Strategy 1.1.1.Assestheroleoffinanceinintegrating

theITstrategywithabusinessrequirement.

Identifybusinessdrivers,CreateITvision,AdjustITStrategy,IT-basedtoolsavailableinassistingstrategicplanningandmanagementprocess.InformationTechnologyinknowledgemanagement.

1.1.2.DemonstratingtheprocessofpreparinganITbudget.

1.1.3.EvaluatingthefeasibilityofITrelatedinvestmentbycriticallyanalysingthecostsavingsandefficiencyimprovements.

B. Contemporary topics in IT : 25%

Knowledge Component Learning Outcomes Specific Knowledge2.1. Contemporary IT

Applications in the business

2.1.1.ApplicationofArtificialIntelligenceinBusiness&Finance.

AvailableAIapplicationsinBusiness&Finance.Basicsofblockchains,sharedledgersandTriple-Entryaccounting.

2.1.2.Blockchainandmaintenanceofsharedledgers.

2.1.3.Useofcryptocurrencyincludingbitcoinandcompliance.

C. Business Information Systems/Enterprise Resource Planning (ERP) : 20%

Knowledge Component Learning Outcomes Specific Knowledge 3.1 ERP usage 3.1.1DemonstratetheknowledgeinERP

productandvendorselection.ERPproductandvendorselection.ERPimplementationlifecycle.Basicprinciplesintheaccesscontrol.BasicprinciplesofauditwithinanERP.

3.1.2ExplaintheintegrationofERPwiththirdpartysystemssuchaspaymentgateways,Internetbanking.

3.1.3DemonstrateknowledgeofthebasicprinciplesintheaccesscontrolmatrixandlistthevariouslevelsavailableintheERPsystem.

3.1.4.Demonstratehowtoperformdataintegrityinterventionscoveringfinancialtaskssuchasreopeningacloseperiod,overridingtransactions.

3.1.5.DemonstrateknowledgeofthebasicprinciplesofauditwithinanERP.(Includingauditlogs,processcontrols,segregationofduties).


Detailed Curriculum

D. Business Analytics : 15%

Knowledge Component Learning Outcomes Specific Knowledge 4.1 Use of Data

Analytics for Business

4.1.1Identifymajortrendsinpredictiveanalytics,Optimisation,correlationofmetrics,andbigdata.

BigDataandAnalytics,BigDataHistoryBigDataSourcesandCharacteristics,TrendsinBigData,StrategyandBusinessApplicationsofdataanalytics,BigDataPlatformsandOperatingTools.

4.1.2Interpretandmanagenewtrendsinanalyticstechniquesaffectingyourorganisation.

4.1.3Assestoolsfordataanalytics.

4.1.4Criticallyinterpretanalyticsreportsandadvisedecisionmakers.

E. Audit Applications : 20%

Knowledge Component Learning Outcomes Specific Knowledge 5.1 Using Audit

Analytic Software5.1.1Assessthebenefitsofauditanalytical

software. Basicelementsofdataanalysis&audit,basicprinciplesofauditanalysissoftware,benefitsofauditanalysissoftware.

5.1.2Demonstrateknowledgeofbasicprinciplesinanauditanalyticalsoftware.

5.1.3Practicebasicelementsofdataanalysisandaudit.


Pillar : Professional Experience Course Unit : Professional Experience IIIMain Curriculum Areas Public Practice Non-Public Practice



A.Financialaccounting 23% 50 50 50% 110 90

B.Audit&assurance 45% 100 75 16% 35 20

C.Taxation 7% 15 15 7% 15 15

D.Managementaccounting&financialmanagement

9% 20 - 14% 30 20

E.Informationtechnology 9% 20 20 9% 20 20

F. Generalmanagementandsecretarialpractice

7% 15 5 5% 10 -

Total 100% 220 100% 220





Detailed Curriculum

A. Financial Accounting : Public Practice 23%, Non-Public Practice 50 %

Knowledge Component Learning Outcomes

1.1 Financial Accounting 1.1.1 Applyknowledgeofaccounting,accountingprocessandsystemsincarryingoutprofessionalduties.

1.1.2 ApplyrelevantSriLankaAccountingStandards,provisionsoftheCompaniesActandanyotherapplicablerulesandregulations.

1.1.3 Analysingandinterpretingfinancialinformationfordecisionmaking.

1.1.4 Relateaccountingworkstootherbusinessfunctionsandactivities.

1.1.5 Improvetheknowledgeandunderstandingoforganisation,howbusinessworksandprofessionalworkrelationships.

1.1.6 Applyethicalprinciplesincarryingoutprofessionalduties.

1.1.7 Evaluateintegratedandsustainabilityreportsofbusinessentitiesfordecisionmaking.

1.1.8 Designandimplementnewaccountingsystemsandprocedures.

B. Audit & Assurance : Public Practice 45%, Non-Public Practice 16%


2.1 Audit & Assurance 2.1.1 Evaluatetheclient’sbusinessandidentifyrisksinvolvedinthebusinessprocesses.

2.1.2 Applyappropriatetechniquesofgatheringauditevidenceandperformtestofcontrolsandsubstantiveprocedures.

2.1.3 EvaluatecompliancewiththeCompaniesActandotherregulatoryrequirement.

2.1.4 Design/evaluateinternalcontrolsofthebusiness.

2.1.5 Communicatewithrelevantpartiesanddrafttheauditandrelatedreports.

2.1.6 ApplyrelevantAuditingStandardsandrelatedstandardsinperformingtheprofessionalduties.

2.1.7 Applyethicalprinciplesgoverningauditoffinancialstatements.

2.1.8 Provideadviceonspecialinvestigationsandaudits.

2.1.9 Analysegovernanceandmanagementstructuresofentities.

2.1.10Evaluateimplicationsofchangesingovernanceintermsofassurance,riskandreporting.



3.1 Taxation 3.1.1 Analyseincome,expenditureandotherrelevantinformationforthecomputationofIncomeTaxandotherindirecttaxliabilities.

3.1.2 Computationofpersonal,partnershipandcorporatetaxliabilities.

3.1.3 Compilesubmissionsforconsiderationinthetaxationdisputeprocess.

3.1.4 Adviceonpracticalandrelevanttaxplanningandadministration.

3.1.5 Evaluatethetaximplicationsoninvestmentdecisions.

3.1.6 Evaluateandresolveethicalandprofessionalissuesinundertakingtaxengagements.


D. Management Accounting & Financial Management : Public Practice 9%, Non-Public Practice 14%


4.1 Management Accounting

4.1.1 Applyknowledgeofmanagementaccountingandpractices,businessprocessandsystemsincarryingoutprofessionalduties.

4.1.2 Computethecostofaproductorserviceandpreparerelevantreports.

4.1.3 Identifydirectcostsandallocatecostsamongproducts,divisionsandStrategicBusinessUnits.

4.1.4 Designbudgetsandplans,allocateresourcesandidentifyvariancestomeasureperformance.


4.2 Financial Management 4.2.1 Evaluatefundsrequirements&differentsourcesoffundsavailableforanorganisation/businessunit.




4.2.5 Computeandanalysethedividendpolicyoftheorganisation/businessunits.

E. Information Technology : Public Practice 9%, Non-Public Practice 9%


5.1 Information Technology 5.1.1 Applycustomisedorstandardsaccountingpackages/ERP/presentationsoftwareetc.

5.1.2 Developandmaintaindatabases/spreadsheets/wordprocessingsystems.

5.1.3 Identifyinformationsecuritysystems.

5.1.4 Applytheinterneteffectivelyasasourceofrelevantandreliableinformation.

5.1.5 Applyemergingtechnologiesinindustry.

5.1.6 Compile&analysebigdataandcloudcomputingintheorganisation.

5.1.7 Applydataanalyticstechniques,blockchaindevelopments,ComputerAidedAuditTechniques.

5.1.8 Reviewdisasterrecoveryplanningandinformationsecuritysystemoftheorganisation.

F. General Management and Secretarial Practice : Public Practice 7%, Non-Public Practice 5%


6.1 General Management Practice

6.1.1 IdentifyandanalyseHRManagementPractices.

6.1.2 Analysemarketingstrategies/functionsofthebusiness.

6.1.3 Analyseandevaluatethebusinessstrategy.


6.2 Secretarial Practices 6.2.1 Identifyrequiredorfrequentlyusedrelevantformsfortheclient/companyandfamiliarwiththecontentsandduedatesforsubmission.

6.2.2 IdentifytheCompaniesActrequirementsrelatingtoformstobesubmittedtoRegistrarofCompanies.


Detailed Curriculum

TransitionalArrangement

Courseunit-basedtransitionalarrangementsfor2015CurriculumThetablebelowshowstherelationshipbetweenthecourseunitsofcurriculum2015andtheircorrespondingcourseunitsofthecurriculum2020.Thepermanentcreditsobtainedforanycourseunitsunderthepre-2020curriculumsareallowedtobecarriedforwardforthecorrespondingsubjectsinthecurriculum2020.

Curriculum 2015 Curriculum 2020

Corporate Level Strategic Level

KC1 CorporateFinancialReporting SL1 AdvancedBusinessReporting

KC2 CorporateFinancialandRiskManagement SL2 CorporateFinance&RiskManagement

KC3 CorporateTaxation SL3 CorporateTaxation

KC4 CorporateGovernance,Assurance&Ethics*SL4 StrategicManagementandLeadership**

KC5CorporateStrategy&ContemporaryIssues SL5 IntegratedCaseStudy

Business Level Corporate Level

KB1 BusinessFinancialReporting CL2 FinancialReporting&Governance

KB2 BusinessManagementAccounting CL3 AdvancedManagementAccounting

KB3 BusinessTaxation&Law CL4 CorporateLaw

KB4 BusinessAssurance,Ethics&Audit CL1 AdvancedAuditandAssuranceKB5 BusinessValueCreation**

Executive Level Business Level

KE1 FinancialAccounting&ReportingFundamentals BL1 FinancialAccounting

KE2 ManagementAccountingInformation***BL2 BusinessMathematicsandStatistics***BL6 ManagementAccounting***

KE3 FundamentalsofLaw BL3 BusinessLaw

KE3 FundamentalsofTaxation BL7 BusinessTaxation

KE4 Processes,Assurance&Ethics BL5 Audit,BusinessProcesses&Digitalisation

KE5 CommercialInsightforManagement BL4 BusinessEnvironmentandEconomicsBL8 DigitalBusinessStrategy****

7

Transitionalarrangementforthepre-2015curriculumwillbedecidedbasedonthetransitionalarrangementsforcurriculum2015.

* Candidateswhohavesuccessfullycompleted“KC4CorporateGovernance,Assurance&Ethics”moduleincurriculum2015willbeexemptedfromthe“ProfessionalPracticeManagement”componentoffinalVivaundercurriculum2020.


Level-BasedTransitionalArrangementsfor2015Curriculum

Level(Curriculum 2015)

Exempt from(Curriculum 2020)

Subjects to complete(Curriculum 2020)

Students who completed - Executive Level

Business Level I & II - All course units Corporate Level :AllcourseunitsStrategic Level :AllcourseunitsIntegrated Case Study

Students who completed -Business Level

Business Level I - All course unitsBusiness Level II - All course units Corporate Level - All course units

Strategic Level : Strategic Management and Leadership

Strategic Level : • AdvancedBusinessReporting• CorporateFinance&RiskManagement

• CorporateTaxation• IntegratedCaseStudy

Students who completed -Corporate level (KC 1 – KC 4)

Business Level I - All course unitsBusiness Level II - All course units Corporate Level - All course unitsStrategic Level - All course units

Strategic Level : IntegratedCaseStudy

** Candidateswhohavesuccessfullycompleted“KB5BusinessValueCreation”moduleincurriculum2015willbeexemptedfrom“StrategicManagementandLeadership”moduleincurriculum2020.

*** Candidateswhohavesuccessfullycompleted“KE2ManagementAccountingInformation“moduleincurriculum2015willbeexemptedfrom“BusinessMathematicsandStatistics”and“ManagementAccounting”moduleincurriculum2020.

*** Candidateswhohaveattemptedandwerenotsuccessful“KE2ManagementAccountingInformation“moduleincurriculum2015shouldcomplete“ManagementAccounting”moduleincurriculum2020.

**** Candidateswhohavesuccessfullycompleted“ExecutiveLevel”knowledgemodulesandSE2ExecutiveInformationTechnology&SystemsofCurriculum2015willbeexemptedfrom“DigitalBusinessStrategy”moduleincurriculum2020.

“ProfessionalPracticeManagement(PPM)”moduleincurriculum2020• InordertobeeligiblefortheCertificatetoPractice,Candidatesshouldcomplete:

- Twoyearsprofessionalexperienceinapublicpracticeorganisationafterbeingeligibleforthe“CertifiedCorporateAccountant(CCA)”qualificationand

- “ProfessionalPracticeManagement(PPM)”module.

The“ProfessionalPracticeManagement(PPM)”moduleshouldbecompletedpriortotheViva-Voceinterview.

• Candidateswhohavesuccessfullycompletedthe“KC4CorporateGovernance,Assurance&Ethics”moduleincurriculum2015willbeexemptedfromthe“ProfessionalPracticeManagement”moduleincurriculum2020.

Note : Students are advised to refer the “Professional Experience Guide” for more information.

Curriculum 2020 | Empowering Finance Professionals of The Future208 |

Detailed Curriculum

ProfessionalExperience


PC 1 Corporate Practical Training & Development PE3 Professional Experience III

PB 1 Business Practical Training & Development PE2 Professional Experience II

PE 1 Executive Practical Training & Development PE1 Professional Experience I

CommunicationSkills


SC I Corporate Communication & People Skills CS4 Strategic Communication

SB I Business Communication & People Skills CS3 Corporate Communication

SE I Executive Communication & People Skills CS2 Business Communication II

CS1 Business Communication I

InformationTechnology


SC 2 Corporate IT & Systems IT3 Information Technology & Data Analytics

SB 2 Business IT & Systems IT2 Corporate Information Technology

SE 2 Executive IT & Systems IT1 Business Information Technology

Curriculum 2020 | Empowering Finance Professionals of The Future

Curriculum 2020 | Empowering Finance Professionals of The Future210 |

Detailed Curriculum

Curriculum 2020

TheInstituteofCharteredAccountantsofSriLanka30A,MalalasekeraMawathaColombo7,SriLanka.

Telephone:+94112352000(General)Fax :+94112352060Email :[email protected]

Website :www.casrilanka.com

*PUSY3163* Curriculum-2020

PUSY3163