EXAMINATION GUIDANCE SPECIFIC

July, 2015

CAF-1 Introduction to Accounting

Reference Issue Guidance

Scope of learning outcomes related to

“Preparation of financial statements of

a sole trader ”

The scope of studies under this head may be

determined by Study Text and Question Bank

The complexity and nature of

scenarios for preparing journal entries

Simple and common business scenarios may

require simple calculations including

percentages, fractions, margins and mark ups

for which knowledge have already been

developed in Quantitative Methods at AFC

stage.

Disposal of asset Not examinable

CAF-2 Introduction to Economics and Finance

Reference Issue Guidance

Chapter 3

Demand and

supply:

elasticities

Dynamic supply and demand

(including Cobweb Theory) Examinable

Chapter 8,

Section 2 Determination of output Examinable

Chapter 13,

Section 4

Devaluation including J-curve and

inverse J-curve Examinable

CAF-9 Audit and Assurance

Reference Issue Guidance

Page 20 of

study text

The text includes the line “Note

that the different types of audit

opinion are not examinable in this

paper.”

The note was inserted when different types

of opinions were not examinable. Under

revised syllabus different types of opinions

are examinable.