Apply accounting principles to partnership, group and company financial statements. Covers business valuation, financial statement interpretation, and financial management.
Accounting & Finance ensures that CITG candidates have a solid grounding in financial accounting and corporate finance — essential for interpreting the financial statements of clients and understanding the financial impact of tax decisions. The paper covers partnership and company accounts, group consolidations, business valuation, and key financial management concepts including investment appraisal and working capital. Tax practitioners who understand their clients' financials provide substantially better advice.
Amalgamation, dissolution, admission and retirement of partners, and conversion of a partnership to a limited company.
Simple consolidated income statements and statements of financial position; joint ventures and associate companies.
Identifying users and their information needs; ratio analysis for liquidity, profitability, efficiency, and gearing.
Asset-based, earnings-based (P/E), and going concern valuations; applications to mergers and liquidation.
Accounting for hire purchase agreements, finance and operating leases, and branch and head office reconciliation.
Translating foreign currency transactions and monetary items at the closing rate; exchange differences.
Cost of capital, gearing, working capital management, investment appraisal (NPV, IRR, payback), and risk under uncertainty.
Tax practitioners need to read and interpret financial statements — not just compute them. Practise writing commentary on ratios and financial trends, not just calculating figures. Discussion marks are often the difference between a pass and a fail.
Tax Adviser (Corporate)
Finance Manager
Business Valuation Specialist
Transaction Tax Adviser
CFO
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