Certified Accountant

2017-09-20 - 11:28

The accounting profession in developed western countries has already been proven and plays an important role in economic development. Professional accountants are business professionals who are the highest paid in the European Union. It is no longer necessary for Kosovo citizens to travel abroad to become accounting and finance professionals.

If you want to become a professional accountant, the Certified Accountant Qualification is what you need.

Certified Accountants benefit from the following skills and you are able to:

  • Discuss and apply regulatory reporting frameworks
  • Accounting for transactions in accordance with IAS / IFRS
  • Analyze and interpret the financial statements
  • Prepare and present FS for specific entities and business combinations in accordance with IAS / IFRS
  • Explain the concept of audit and security and audit functions, corporate governance including ethical and professional behavior
  • Present the way auditor benefits and accepts audit engagements
  • Describe and evaluate internal controls, techniques, audit tests, including IT systems.
  • Discuss the role and purpose of financial management functions
  • Discuss and apply capital management techniques
  • Make an effective investment assessment
  • Discuss and apply the principles of business and asset valuations 

Qualification

The Qualification Curriculum for Certified Accountants provides a special emphasis on financial reporting skills that have been developed in accordance with International Financial Reporting Standards (IFRS). Certified Accountants will learn the principles and systems of internal control for enterprises, audit methods and standards as well as a wide array of business planning, decision support and performance management skills.

To be trained for a Certified Accountant you must first complete the Qualification for Accounting Technician. Membership for Certified Accountant is open for professional accountants who have completed SCAAK Qualification for Accounting Technician.

Entry Requirements

  • University Degree;
  • Completing the level for Accounting Technician;
  • Evidence for at least three (3) years of verified employment work experience - that can be gained during or after training.

Syllabus for Certified Accountant

The Certified Accountant qualification training covers the following subjects and topics:

Subject 5: Financial Reporting

Brief description of content

 
  • the conceptual framework
  • the regulatory framework
  • presentation of published financial statements
  • non-current assets
  • intangible assets
  • impairment of assets
  • reporting financial performance
  • introduction to groups
  • consolidated balance sheet
  • consolidated income statement
  • accounting for associates
  • inventories and construction contracts
  • provisions, contingent assets and liabilities
  • financial assets and liabilities
  • legal versus commercial view of accounting
  • leasing
  • accounting for taxation
  • earnings per share
  • cash flow statements
  • analysis and interpretation of financial statements
  • non-for profit and public sector entities

Subject 6: Auditing

Brief description of content

 

Audit Framework and Regulation

  • introduction and nature of audit and assurance engagements
  • statutory audit and regulation: EU 8th Directive and applicable Kosovo law
  • Regulatory environment and corporate governance
  • Professional ethics

Internal Audit

Planning and Risk Assessment

  • risk assessment
  • audit planning and documentation
  • audit evidence

Internal Controls

  • internal controls
  • tests of controls

 Audit Evidence

  • audit procedures and sampling
  • receivables
  • inventory
  • liabilities and capital
  • cash and bank
  • non-current assets
  • not-for-profit organizations

Audit Review and Reporting

  • audit review and finalization
  • the audit report

Subject 7: Financial Management

Brief description of content

 

Financial management environment

  • Financial management function and aims
  • Economic environment for business
  • Financial markets and institutions

Working Capital Management

  • working capital cycle
  • managing inventories
  • managing receivables
  • managing payables
  • cash management
  • financing working capital

Investment Appraisal

  • nature of investment decision
  • methods of evaluating investment proposals including NPV, IRR, payback and ROCE
  • Impact of inflation and taxation
  • Project appraisal and risk

Business Finance

  • sources of finance
  • cost of capital
  • capital structure
  • dividend policy
  • preparing business plans for finance

Business Valuation

  • approaches to business valuation
  • market efficiency

Risk Management

  • managing foreign currency risk
  • interest rate risk

Subject 8: Performance Management

Brief description of content

 

Specialist cost and management  accounting techniques

  • Activity based costing
  • Target costing
  • Life Cycle costing
  • Throughput accounting
  • Environmental accounting
  • Decision-making techniques
  • Relevant cost analysis
  • Cost volume analysis
  • Limiting factors
  • Pricing decisions
  • Make or buy and other short term decisions
  • Dealing with risk and uncertainty in decision making

Budgeting and control

  • Budgetary systems
  • Types of budget
  • Quantitative analysis in budgeting
  • Standard costing
  • Material mix and yield variances
  • Sales mix and quantity variances
  • Planning and operational variances
  • Performance analysis and behavioral aspects

Performance management and control

  • Performance management information systems
  • Sources of management information
  • Management reports
  • Performance analysis in private sector organizations
  • Divisional performance and transfer pricing
  • Performance analysis in non for profit organizations and the public sector
  • External considerations and behavioral aspects