FOUNDATION PROGRAMME SINGAPORE QP SYLLABUS HANDBOOK
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
S INGAPO RE QP SY L L A B U S H A NDB O O K
FOUNDATION PROGRAMME
2013-2014
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 1S INGAPO RE QP SY L L A B U S H A NDB O O K
FOUNDATION PROGRAMME
2013-2014
Sin g a p o re QP Sylla b us H a ndbo o k
© 2013-2014 Singapore Accountancy Commission
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 2Singapore Qualification Programme
The Singapore Qualification Programme (Singapore QP) is a post-university professional accountancy qualification with
3 main components:
1. Academic Base;
2. Professional Programme; and
3. Practical Experience.
The inter-relationships between these components are shown in the following diagram:
CHARTERED ACCOUNTANT OF SINGAPORE
SINGAPORE QUALIFICATION PROGRAMME
PROFESSIONAL PROGRAMME PRACTICAL EXPERIENCE
Integrative Business Solutions
Minimum 3 years
Financial Reporting Assurance experience within a
training commitment in
Business Value, an Accredited Training
Governance and Risk Taxation Organisation supervised
by an Approved Mentor
Ethics and Professionalism
ACADEMIC BASE
Foundation Programme
Accredited Degree
in Accountancy
Non-Accredited Degree
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 3PROGRAMME OBJECTIVE
The Foundation Programme provides a pathway into the Singapore QP for candidates who do not have an Accredited
Accountancy Degree. The Foundation Programme of the Academic Base will develop in graduates the base technical
knowledge and skills as well as capacities for inquiry, abstract logical thinking, critical analysis, appropriate communication,
personal and interpersonal skills required by the accounting profession. These provide a base for further development during
the Professional Programme and Practical Experience.
The Foundation Programme covers a set of 6 core syllabus areas:
1. Financial Accounting and Reporting;
2. Management Accounting;
3. Financial Management;
4. Audit and Assurance;
5. Singapore Law; and
6. Singapore Taxation.
Candidates will be assessed on these areas using examinations conducted by an Accredited Learning Organisation. Candidates
with accounting and business related qualifications may apply to the SAC with their transcripts for exemptions against 1 or more
areas of the Foundation Programme.
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 4FINANCIAL ACCOUNTING
& REPORTING SYLLABUS
Rationale
The Financial Accounting & Reporting (FAR) module provides AIM
students with a solid grounding in the basics of double entry
To develop knowledge and skills in
bookkeeping, thereby enabling students to prepare financial
understanding and applying accounting
statements for both single entity and group entities applying
standards and the theoretical framework in the
the Singapore Financial Reporting Standards (SFRS). Students
preparation for financial statements of entities,
are expected to interpret financial statements for different types
including group entities and analysing and
of business entities to different stakeholders, recognising the
interpreting those financial statements.
various needs of the respective stakeholders.
STUDENTS SHOULD BE ABLE TO:
A Discuss the need for and the components D Review a set or extracts of financial statements and compute financial
of a conceptual and regulatory framework, ratios to identify and advise on the key trends, reasons for and possible
considering alternative models and practices. implications of these trends for different types of businesses and
Recognise and account for the changes in stakeholders. Outline the limitations of interpretation techniques on
accounting policies and correction of prior financial statements.
period errors.
Guidance on the weighting of areas within any given examination is
B Describe and apply the double entry system outlined in the relational diagram below.
based on the accounting treatments prescribed
by SFRS to different business transactions for
a Singapore business entity. Prepare relevant ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
extracts of financial statements, as appropriate.
C Prepare consolidated accounts for A conceptual and regulatory framework
subsidiaries and associates under a business for financial reporting
(A) up to 10%
combination. Determine and account for
the components of goodwill, inter-group
trading and inter-group indebtedness. Explain
circumstances when management may wish Financial statements (B) 40%-60%
and can claim exemption from preparing Analysing and
consolidated financial statements. interpreting
financial
statements
(D) 10% -25%
Business combinations (C) 25%
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 5FINANCIAL ACCOUNTING & REPORTING
SYLLABUS IN DETAIL
A Legal and A Conceptual Framework for
Regulatory Framework Financial Reporting
for Financial Reporting
a) The need for a conceptual framework
a) The need for a regulatory b) Relevance, reliability, comparability and understandability
framework c) Recognition and measurement of assets and liabilities
d) The legal versus the commercial view of accounting
b) The accounting standard setting
e) Alternative financial reporting models and practices
process
f) The concept of ‘true and fair view’ (‘faithful representation’)
c) Legal and regulatory requirements
for specialised, not-for-profit and
public sector entities
d) Legal requirements relating to Business combinations
the presentation of single entity a) The concept and principles of a group structure
financial statements b) The concept of consolidated financial statements
c) Preparation of consolidated financial statements including
subsidiaries and associates
Financial Reporting Standards
Analysing and
Interpreting Financial
a) FRS 1: Presentation of financial statements
b) FRS 2: Inventory
c) FRS 7: Cash Flow Statements Statements
d) FRS 12: Income Taxes
e) FRS 16: Property, Plant and Equipment a) Limitations of financial statements
f) FRS 17: Leases b) Calculate and interpret financial
g) FRS 36: Impairment of assets ratios and trends to address various
h) FRS 37: Provisions, Contingent Liabilities stakeholders’ needs
and Contingent Assets c) Limitations of interpretation
i) FRS 38: Intangible assets techniques
j) FRS 39: Recognition and Measurement of Financial d) Analyse and interpret financial
Instruments statements for specialised, not-for-
profit, and public sector entities
k) Regulatory requirements for preparing financial statements
l) Reporting on an entity’s financial performance
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 6MANAGEMENT
ACCOUNTING SYLLABUS
Rationale
AIM
The Management Accounting module To develop knowledge and skills in the
introduces and develops cost accounting application of management accounting
techniques for decision-making. techniques to quantitative and qualitative
Students will appreciate the issues information for planning, decision-making,
surrounding scarce resources, pricing performance evaluation, and control.
and make-or-buy decisions, and how
this relates to performance assessment.
As budgeting is an important aspect for
STUDENTS SHOULD BE ABLE TO:
many accountants, students will explore
different budgeting techniques and their A Explain, apply and contrast a variety of cost accounting techniques,
respective inherent problems. Some of including activity based costing (ABC), target costing, life-cycle,
the budgeting techniques introduced throughput accounting and environmental accounting.
in this module include standard costing B Select and appropriately apply decision-making techniques such
and variances, mix, yield, planning and as relevant cost analysis, cost volume analysis, limiting factor, pricing
operational variances. It is important for and make or outsource decisions to promote efficient and effective
accountants to be able to interpret the use of scarce business resources, appreciate the risks and uncertainties
variances in the context of performance inherent in business and control those risks.
measurement.
C Explain the objectives of budgeting and the fit of different budgetary
Students will also be required to systems within the performance hierarchy and apply appropriate
understand how performance is budgeting techniques such as zero based, activity based, capital
measured and controlled. Accountants budgeting, statistical, incremental and feed-forward control. Use and
need to understand how a business appraise various quantitative methods for planning and control, taking
should be managed and controlled. They into account how behaviours impact budget setting and control.
should appreciate the importance of both
financial and non-financial performance D Determine and investigate discrepancies between budget and
measures in management accounting. actual performance, presenting information in an appropriate format
Accountants should also appreciate the for management purposes and recommend to management possible
difficulties in assessing performance remedial actions. Standard costing systems include flexed budgets,
in divisionalised businesses and the sales, production and ABC variance analysis whilst paying attention to
problems caused by external influences. the behavioural problems that can result from such analysis.
E Use a variety of financial and non-financial performance indicators to
assess the performance of a business. Explain the benefits and problems
faced when assessing divisional performance and consider the impact
of different transfer pricing systems on performance measurement.
Discuss how performance measurement and control would differ in the
not-for-profit and public sectors.
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 7Guidance on the weighting of the areas within
ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
any given examination is outlined within the
relational diagram to the right.
Cost and management
accounting techniques
(A) 20%
Decision-making techniques
(B) 20%
Performance
measurement
and control
(E) 20%
Budgeting
(C) 20%
Standard costing and
variance analysis
(D) 20%
MANAGEMENT ACCOUNTING
SYLLABUS IN DETAIL
Specialist cost
and management
accounting techniques Decision-making
a) Activity based costing
techniques
b) Target costing
a) Relevant cost analysis
c) Life-cycle costing
b) Cost volume analysis
d) Throughput accounting
c) Limiting factors
e) Environmental accounting
Budgeting d) Pricing decisions
e) Make or buy and other short term
a) Objectives decisions
b) Budgetary systems f) Dealing with risk and uncertainty in
c) Types of budgets decision making
d) Quantitative analysis in budgeting Performance
e) Behavioural aspects of budgeting
measurement and control
a) The scope of performance
measurement
Standard costing and b) Divisional performance and
variances analysis transfer pricing
c) Performance analysis in not-for-profit
a) Budgeting and standard costing
organisations and the public sector
b) Basic variances and operating statements
d) External considerations and behavioural
c) Mix and yield variances
aspects
d) Planning and operational variances
e) Behavioural aspects of standard costing
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 8AUDIT &
ASSURANCE SYLLABUS
Rationale
The Audit & Assurance module provides students with the
requisite knowledge to plan and perform an audit in accordance
with appropriate Singapore Standards on Auditing (SSA) and the
regulations to form an audit opinion on whether the financial
statements are free from material misstatement.
Students will be expected to understand the nature, purpose
and scope of assurance engagements, including statutory audits
and its regulatory environment. Professional ethics relating to
audit and assurance will also be introduced. Students are also
required to understand the scope of an internal audit and
the differences between an internal audit and external audit.
AIM
Areas covered under the audit of financial statements include
planning and risk assessment, evaluating internal controls, audit
To develop knowledge and understanding
evidence and procedures. Students will also learn how an audit
on the process of carrying out the
is completed along with a review of the financial statements
assurance engagement based on the
and reporting, including statutory audit reports, management
Singapore Standards on Auditing.
reports, and internal audit reports.
STUDENTS SHOULD BE ABLE TO:
A Explain the nature, purpose and scope of audit and assurance in relation to fraud, and laws and regulations.
engagements and the regulatory environments for statutory audits. Demonstrate how an auditor plans an audit
Discuss the need for corporate governance and the provisions of the and documents his work.
Code of Corporate Governance. Define and apply the fundamental
D Describe and evaluate the information
principles of professional ethics.
systems and internal controls to identify
B Discuss the need for internal audit with reference to corporate and communicate control risks and their
governance. Compare the differences between an external and potential consequences, making appropriate
internal audit. Discuss the scope of internal audit, the advantages and recommendations. Explain and list the various
disadvantages of outsourcing the internal audit function, and the nature tests of controls.
and purpose of internal audit assignments.
E Identify and describe audit procedures and
C Demonstrate how the auditor obtains an understanding of the entity evidence required on specific items to meet
and its environment and assesses the risk of material misstatement. the objectives of audit engagements and
Explain the concept of materiality. Discuss the auditor’s responsibilities the application of SSA. Explain the use of
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 9computer-assisted audit techniques (CAAT)
ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
and the extent to which auditors are able to
rely on the work of others.
F Discuss procedures used in a subsequent Audit framework, ethics and
Internal audit
corporate governance
events review and a going concern review. (B) 10%
(A) 15%
Consider written representations as a form of
audit evidence. Explain how the conclusions
from audit work are reflected in different types Audit planning and risk (C) 20%
of audit reports, and explain other types of
assurance reports.
Internal control (D) 20%
Guidance on the weighting of the areas within
any given examination is outlined within the
relational diagram on the right. Audit evidence and procedures (E) 15%
Audit completion and reports (F) 20%
AUDIT & ASSURANCE
SYLLABUS IN DETAIL
Internal Audit
a) Internal audit and corporate
Audit Framework and Regulation
governance
a) The concept of audit and other assurance engagements
b) Differences between the external
b) Statutory audits
auditor and the internal auditor
c) The regulatory environment and corporate governance
c) The scope of the internal audit function
d) Professional ethics
d) Outsourcing the internal audit function
e) Internal audit assignments
Review
Audit Evidence
a) Subsequent events
a) The use of assertions by auditors
b) Going concern
b) Audit procedures
c) The audit of specific items Reporting c) Written representations
d) Audit sampling and other means d) Audit finalisation and the final review
a) Audit reports
of testing b) Reports to
e) Computer-assisted audit techniques management
f) Using the work of others c) Internal audit Planning and Risk
Assessment
g) Auditing for not-for-profit reports
organisations
a) Objective and general principles
Internal control b) Assessing the risks of material
misstatement
a) Internal control systems c) Understanding the entity and its
b) The use of internal control systems by auditors external environment
c) Transaction cycles d) Materiality, fraud, laws and regulations
d) Tests of controls e) Analytical procedures
e) The evaluation of internal control components f) Planning an audit
f) Communication of internal controls to the audit committee g) Audit documentation
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 10FINANCIAL
MANAGEMENT SYLLABUS
Rationale
The Financial Management (FM) module is designed to equip
students with the skills that would be expected from a finance
manager responsible for the finance function of a business.
Students will be introduced to the role and purpose of the
financial management function within a business. An exploration
of the economic environment will preclude the discussion of
the three key financial management decisions of investing,
financing, and dividend policy.
The introduction to investing decisions will be covered in two
stages - investment in (and the management of) working capital
and the appraisal of long-term investments. The section on
financing decisions will examine the various sources of business
finance, including dividend policy and how much finance can be
raised from within the business. Cost of capital and other factors
that influence the choice of the type of capital a business will
AIM raise follows. The principles underlying the valuation of business
To develop the knowledge and skills
and financial assets, including the impact of cost of capital on
expected of a finance manager, in relation
the value of business, is covered next.
to investment, financing, and dividend
policy decisions. The module concludes with an introduction to, and examination
of, risk and the main techniques employed in the management
of such risk.
STUDENTS SHOULD BE ABLE TO:
A Describe the nature and purpose of financial management and how also be considered under the discounted cash
the objectives relate to an entity’s corporate strategy both financially flow techniques, as appropriate.
and non-financially in different types of organisations. For each type of
D Describe the different sources of short and
business, outline the economic environment faced by the business and
long term finance including Islamic finance
consider the role of financial markets and institutions.
that is appropriate and available to different
B Discuss the importance of working capital management and describe business entities, in different industries and
the different management approaches relating to inventory, accounts size, including small and medium sized entities.
receivable, accounts payable and cash appropriate to the business Consider the implications of an existing or
entity, for working capital needs and funding strategies. proposed finance structure on gearing, cost
of capital (debt and equity) and the capital
C Identify the purpose of investment appraisal, and apply the non
structure. Consider the impact of cost of
discounted and discounted cash flow techniques, adjusting for the
capital in investment appraisal.
effects of risk and uncertainty. Effects of inflation and taxation should
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 11E Identify the different types of risk that
ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
may be contained within a defined business
environment and discuss the available
mitigation strategies available. Financial management function and environment (A) 10%
F Describe and apply the different business
valuation models available to value a business Working capital management (B) 20%
entity with debt and/or equity. Outline the
efficient market hypothesis and how this
Investment appraisal (C) 20%
affects the valuation of shares.
Guidance on the weighting of the areas within
Business finance and the cost of capital
any given examination is outlined within the (D) 20% Business
relational diagram on the right. valuations
(F) 10%
Risk management (E) 20%
FINANCIAL MANAGEMENT
SYLLABUS IN DETAIL
Financial Management
Function
a) The nature and purpose of financial
Financial Management Environment
management
b) Financial objectives and relationship with
a) The economic environment for business
corporate strategy
c) Stakeholders and impact on corporate b) The nature and role of financial markets and institutions
objectives
d) Financial and other non-financial
objectives in not-for-profit organisations
Investment
Working Capital Management Appraisal
a) The nature, elements and importance of working capital
a) The nature of investment decisions
b) Management of inventories, accounts receivable,
and the appraisal process
accounts payable and cash
b) Non-discounted cash flow techniques
c) Determining working capital needs and funding strategies
c) Discounted cash flow (DCF)
techniques
d) Allowing for inflation and taxation in
DCF
e) Adjusting for risk and uncertainty in
investment appraisal
f) Specific investment decisions (lease
or buy; asset replacement, capital
rationing)
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 12Business Finance
a) Sources of, and raising
Cost of Capital
short-term finance
a) Sources of finance and their relative costs
b) Sources of, and raising
b) Estimating the cost of equity
long-term finance
c) Estimating the cost of debt and other capital instruments
c) Raising short and long term
d) Estimating the overall cost of capital
finance through Islamic financing
e) Capital structure theories and practical considerations
d) Gearing and capital
f) Impact of cost of capital on investments
structure considerations
e) Finance for Small and Medium-sized
Entities (SMEs)
Risk Management
Business Valuations a) The nature and types of risks
(including operational, market,
a) Nature and purpose of the valuation of business and
exchange rate, interest rate,
financial assets
information systems, information,
b) Models for the valuation of shares
reputational and strategic) and
c) The valuation of debt and other financial assets
approaches to risk management
d) Efficient Market Hypothesis (EMH) and practical
b) Reasons for exchange rate
considerations in the determination of share prices
differences and interest rate
e) Principles of microeconomics
fluctuations
f) Principles of macroeconomics
c) Hedging techniques for foreign
currency risk
d) Hedging techniques for interest
rate risk
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 13SINGAPORE LAW
SYLLABUS
Rationale
Singapore Law provides students with a basic understanding
of the Singapore corporate and business law and recognising
legal issues. The module covers an introduction to the legal
system in Singapore, the basics of contract law and tort law and
AIM professional negligence.
To develop knowledge and skills in
The module will also cover specific legal areas relating to
the understanding of the general legal
partnerships and companies. This includes the formation and
framework, and specific legal areas
constitution of companies, the financing of companies and types
relating to business, recognising the
of capital, the day to day management, and administration of
need to seek further specialist legal
companies. Students will also learn the concept of majority
advice where necessary.
control and minority protection, and the insolvency of companies
including alternatives to winding up.
STUDENTS SHOULD BE ABLE TO:
A Identify the essential elements of the Singapore legal system F Recognise and apply the appropriate legal
including the court structure, different types of law, the main sources of rules relating to majority control and minority
law, including precedent and statutory interpretation, and the reception protection and the remedies available.
of English law in Singapore.
G Explain the procedure for the voluntary and
B Recognise the formation of a contract and the content of contracts, compulsory liquidation of insolvent companies,
vitiating factors, and breach of contract and remedies. Understand the judicial management and other alternatives to
law of torts and the duty of care, including the duty of care expected of winding up.
accountants and auditors.
H Demonstrate an understanding of corporate
C Distinguish between different forms of business organisations. governance relating to business. Recognise
Demonstrate knowledge of the legislation governing partnerships. the nature and legal control over insider
Explain separate legal personality. Understand company formations dealing, fraudulent and wrongful behaviour.
and its constitutions.
D Recognise and compare types of capital and the financing of
companies, including share capital and loan capital. Explain the doctrine
of capital maintenance and capital reduction, and the rules governing
the distribution of dividends.
E Describe and explain how companies are managed, administered
and regulated including the roles of directors, company secretaries,
and auditors, and the procedures for company meetings, including
resolutions.
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 14Guidance on the weighting of the areas within
ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
any given examination is outlined within the
relational diagram on the right.
The Singapore legal system (A) 10%
Contract law, tort law and professional negligence (B) 20%
Partnerships, companies, and legal personality (C) 15%
Capital and Management and Majority control
financing of administration of and minority Insolvency
companies companies protection (G) 10%
(D) 15% (E) 15% (F) 5%
Corporate governance and fraudulent behaviour (H) 10%
SINGAPORE LAW
SYLLABUS IN DETAIL
The Formation and Constitution of Essential Elements
Business Organisations of the Legal System
a) Types of business organisations a) Court structure
b) Partnerships and limited liability partnerships b) Sources of law
c) Corporations and separate legal personality concept c) Precedent and statutory interpretation
d) Company formations d) Reception of English Law in Singapore
Capital and the
The Law of Obligations
Financing of Companies
a) Formation of contract a) Share capital
b) Content of contracts b) Loan capital
c) Vitiating factors c) Capital maintenance and dividend law
d) Discharge of contract, breach
of contract and remedies
e) The law of torts
f) Professional negligence
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 15Management,
Administration and Legal Implications Relating to
Regulation of Companies Companies in Difficulty or in Crisis
a) Company directors a) Insolvency
b) Other company officers b) Voluntary and compulsory liquidation
c) Company meetings and resolutions c) Judicial management
Corporate Governance and Majority Control and
Ethical Issues Relating to Business Minority Protection
a) Corporate governance
a) Majority rule and minority rights
b) Fraudulent behaviour
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 16SINGAPORE TAXATION
SYLLABUS
Rationale
AIM
Singapore Taxation introduces students To develop knowledge and skills relating
to the subject and system of taxation to the tax system for individuals, single
in Singapore and provides the core companies and groups of companies.
knowledge of the underlying principles
and major technical areas of taxation,
as they affect the activities of individuals STUDENTS SHOULD BE ABLE TO:
and businesses in Singapore.
A Explain the overall function and purpose of the taxation system in the
In this module, students are introduced to Singapore economy, identifying the different types of taxes (revenue,
the rationale behind and the functions of direct and indirect) and the principal sources of revenue law and
the tax system in Singapore. The module practice including how our domestic tax laws interact with that of other
then considers the different tax types jurisdictions. Appreciate the difference between tax avoidance and tax
that an accountant would need to have evasion.
a detailed knowledge of, such as income
B Define the scope of individual tax, including income from
tax from self-employment, employment
employment, self-employment, partnership, investment income and
and investments; partnerships; the
the comprehensive computation of taxable income and liability to tax,
corporation tax liability of individual
taking into account allowable exemptions and reliefs.
companies and groups of companies;
and the goods and services tax liability of C Define the scope of tax and profits chargeable to corporate income
businesses. tax and the comprehensive computation of corporate income tax
liability, taking into account group structures and identify exemptions
Having covered the core areas of the
and reliefs available to companies to minimise tax liabilities.
basic taxes, the student should be able to
compute tax liabilities, explain the basis D Define the scope of goods and services tax (GST) and explain the GST
of their calculations, apply tax planning registration requirements and compute GST payments and refunds.
techniques for individuals and companies
E Identify and explain the obligations of taxpayers and/or their agents in
and identify the compliance issues for
Singapore and the implications of non-compliance within the regulatory
each major tax type through a variety
framework, in respect of time limits for the submission of information,
of business and personal scenarios and
claims and payment of tax and procedures, relating to appeals and
situations. These issues include time-bars
disputes, including the penalties for non-compliance.
and penalties for non-compliance.
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 17Guidance on the weighting of the areas within ILLUSTRATIVE RELATIONAL DIAGRAM OF SYLLABUS OUTLINE
any given examination is outlined within the
relational diagram on the right.
The Singapore tax system (A) 10%
Corporate
Individual tax Goods and
income tax
liabilities services tax
liabilities
(B) 30% (D) 15%
(C) 30%
The obligations of the taxpayer and/or their agents (E) 15%
SINGAPORE TAXATION
SYLLABUS IN DETAIL
Goods and Services Tax Individual Tax Liabilities
a) The scope of goods and services tax (GST)
b) The GST registration requirements a) The scope of income tax
c) The computation of GST payments/refunds b) Income from employment
c) Income from self-employment
d) Property and investment income
The Singapore Tax System e) The comprehensive computation of taxable
income and income tax liability
a) The overall function and purpose of taxation f) The use of exemptions and reliefs in deferring
in a modern economy and minimising income tax liabilities
b) Different types of taxes
c) Principal sources of revenue law and practice
d) Tax avoidance and tax evasion
The Obligations of
Corporate Income Tax Liabilities Tax Payers and/or
Their Agents
a) The scope of corporate income tax
b) Profits chargeable to corporate income tax
a) The time limits for the submission
c) The comprehensive computation of the corporate income
of information, claims and
tax liability
payment of tax
d) The effect of a group corporate structure for corporate
b) The procedures relating to
income tax purposes
enquiries, appeals and disputes
e) The use of exemptions and reliefs in deferring and
c) Penalties for non-compliance
minimising corporate income tax liabilities
SINGAPORE QP SYLLABUS HANDBOOK — FOUNDATION PROGRAMME | 18Singapore Accountancy Commission
www.facebook.com/Singapore.Qualification.Programme
10 Anson Road
#05-18 International Plaza
Singapore 079903 www.SingaporeQP.comYou can also read
