KASNEB CPA Advanced study guide
KASNEB CPA Advanced · Work through your exam, one topic at a time.
KASNEB - the Kenya Accountants & Secretaries National Examinations Board - is a State Corporation under The National Treasury and Economic Planning, established by the Government of Kenya in 1969. Its mandate covers the development of syllabuses, the conduct of professional, diploma and technician examinations, and the certification of candidates in accountancy, finance, credit, governance and management, information technology and related disciplines, together with the accreditation of relevant training institutions in liaison with the ministry in charge of education. The KASNEB CPA Advanced study guide has 5 sections and about 1,697 words.
01Financial Reporting and Analysis
Advanced reporting questions move from a transaction to the primary statements, then ask you to interpret. You must command: IAS 1 presentation and the going-concern/accrual/materiality principles; IFRS 15 revenue; IFRS 16 leases; IFRS 9 classification and expected credit losses; IAS 36 impairment; IFRS 10 control and consolidation; IAS 12 deferred tax; IAS 33 earnings per share; and ratio/DuPont analysis.
333 words, about 2 min02Advanced Auditing and Assurance
The examiner expects the audit process to be argued, not recited: ISA 315 (revised) risk identification and assessment, ISA 320 materiality, ISA 330 responses, ISA 500 evidence, ISA 570 going concern, ISA 600 group audits, ISA 701 key audit matters, ISA 705/706 modifications, plus ISQM 1 quality management and the IESBA-aligned code of ethics. Risk: understand the entity and its environment, including the IT environment and internal control, then identify significant risks - presumed fraud risk in revenue recognition and management override.
326 words, about 2 min03Taxation
Kenyan tax questions reward precision on chargeable income, residence and the difference between allowances, exemptions and reliefs. Know income tax on individuals (graduated bands, personal relief) and companies (30% resident; higher rate for non-resident branches), capital allowances, capital gains tax, VAT, withholding tax, PAYE, instalment tax and transfer pricing.
344 words, about 2 min04Strategic Management Accounting
This domain tests whether you can produce the number that changes a decision: relevant costing, limiting factors and linear programming, throughput accounting, target and life-cycle costing, activity-based costing, transfer pricing, divisional performance measures and the balanced scorecard. Relevant costing: future, incremental, cash.
341 words, about 2 min05Corporate Finance and Ethics
Corporate finance: investment appraisal (NPV, IRR, payback, adjusted present value), cost of capital and CAPM, gearing and capital structure, dividend policy, working capital management, business valuation and risk management. Ethics and governance: agency theory, stakeholder versus shareholder primacy, the governance code (in Kenya, Mwongozo), insider dealing, conflicts of interest, whistleblowing and the professional code's fundamental principles.
353 words, about 2 min