Module 6 — Financial Instruments: a fast tour for CPA Australia candidates. We cover what counts as a financial instrument, recognition/derecognition, IFRS 9 classification & measurement, hedge accounting (fair value vs cash flow), compound instruments, and IFRS 7 disclosures. Reinforce with exam-style MCQs at https://cpacopilot.replit.app/

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

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Welcome to Financial Reporting – Module 5: Business Combinations & Group Accounting! In this episode, we move from single-entity reporting to the world of groups—how to identify a business combination and produce decision-useful consolidated financial statements.

We’ll unpack the acquisition method under IFRS 3: identifying the acquirer, measuring consideration (including contingent consideration), recognizing and measuring identifiable assets and liabilities at fair value, and determining goodwill (or a bargain purchase). We’ll also tackle the deferred tax effects of fair value step-ups and other temporary differences that arise on day one.

From there, we dig into control under IFRS 10—power, returns, and the link between them—and walk through tricky scenarios (potential voting rights, de facto control, structured entities). You’ll learn the mechanics of consolidation worksheets: pre- vs. post-acquisition reserves, non-controlling interests (measurement choices and subsequent movements), depreciation of fair-value uplifts, and eliminating intragroup balances, transactions, and unrealised profits.

Rounding out the module, we cover disclosures (IAS 1 and IFRS 12) for subsidiaries, associates, and joint arrangements, then switch gears to associates (IAS 28) using the equity method, and IFRS 11 distinctions between joint operations and joint ventures—what gets consolidated, what gets equity-accounted, and why it matters.

By the end, you’ll be able to analyze a transaction, decide whether it’s a business combination, apply the acquisition method, and prepare clear, compliant group financials—confidently navigating goodwill, NCI, deferred tax, and the equity method. Let’s dive in.

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

Hosted on Acast. See acast.com/privacy for more information.

A crisp, no-fluff coaching session for CPA Australia candidates sitting in-person, open-book exams. In ~30 minutes, we break down exactly how to win across multiple-choice (standard, vignette, and “select-all-that-apply”) and extended-response questions (written and numeric/worksheet style). You’ll learn precise time budgets for a 195-minute paper, how to navigate locked sections, when to use the 5-minute paused break, and the fastest ways to reference your tabbed study guide without burning minutes. We spell out what to bring (government ID, non-programmable calculator, organized printed notes, sealed earplugs) and what to leave out (phones, smartwatches, programmable/graphing calculators, food/drink). Subject nuances are covered: AAA/CBI/FRM = MCQ-only; SMA/FR/GSL/DF = mixed, with DF including multi-option items. Expect interactive mini-quizzes, short reflection pauses, and a finale action checklist you can follow to the letter.

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

Hosted on Acast. See acast.com/privacy for more information.