Institute of Commercial Management | Qualification Subject

Advanced Accounting Project

Main Topics of Study

This is not available as a Single Subject.

Analysis and Evaluation of Financial Statements

  • Use of ratios etc. to evaluate: the statement of profit or loss, the statement of financial position, and the cash flow statement

Evaluation of Strategic Performance

  • Use of the various strategic reports contained in the annual report and accounts to assess business performance

The Principal Contents of the Annual Report and Accounts

  • Examination of corporate governance, auditor’s report, and the application of significant accounting policies adapted

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

A link will be made available, at the beginning of each examination series, on both the ICM website and within the question paper that will provide financial details of the Company on which analysis is to be conducted and the report is to be prepared for.

Indicative Text:

Alternative Text and Further Reading:

None specifically recommended. However, the following texts may be of use:

Understanding The Corporate Report – Nuts, Bolts and a Few Loose Screws by Lyn Fraser and Aileen Ormiston.

Reading an Annual Account For Dummies, Keys to Reading an Annual Report (Barron’s Business Keys) by Friedlob and Welton.