PASS - Professional Accounting Supplementary School

In order to be prepared for the UFE, candidates must have a solid technical base in financial accounting. This is critical for passing level two of the passing profile which requires that candidates achieve depth in Performance Measurement. However, simply knowing your “technical” is not enough – you must be able to apply the technical in cases and integrate between the Competencies.

Provincial programs help candidates develop their technical skills. PASS helps the candidate bridge the gap between the technical base and the case writing.

PASS has prepared a number of study publications that will help candidates. These publications are summarized below.

STUDENTS ATTENDING THE PASS SUMMER UFE COMPREHENSIVE COURSE, WILL RECEIVE A COPY OF THE PUBLICATION “FINANCIAL ACCOUNTING ON THE UFE – AN INTEGRATED APPROACH FOR THE 2010 UFE” and “IFRS Technical Summaries – 2010”, FREE OF CHARGE AT THE COURSE.

Note - The publications below were prepared for the 2010 UFE. They will be updated in May 2011.

1. FINANCIAL ACCOUNTING ON THE UFE – AN INTEGRATED APPROACH FOR THE
2010 UFE

The purpose of this booklet is to summarize the ways in which various financial accounting topics have been traditionally tested on the UFE. This will assist students in preparing for the Performance Measurement and Reporting competency, most of which consists of financial accounting. This booklet will help students to:

Prioritize your studying, as you will be able to observe which topics have been tested heavily on past UFEs, as well which aspects of a given topic tend to be examined in UFE simulations; and

Gain a solid understanding of how topics are tested on the UFE which will enable you to more effectively apply your technical knowledge in financial accounting to UFE simulations.

The booklet is organized by accounting topic and covers all topics that have come up on the UFE in the last several years. Topics are broken down between major and minor topics.

For each topic discussed, the topic is broken down as follows:

Past UFE testing of Topic:
A detailed summary is provided of how the topic has been tested in the past. In some instances, suggestions are also provided as to how the topic could potentially be tested in the future.

Integration:
There is a section on integration which discusses how the topic might be integrated with various other competencies. This is important, given that UFE simulations always test at least two competencies, and therefore the ability to integrate financial accounting with other competencies is very critical.

Summary:
A summary is provided of the cases in which the accounting topic has been tested over the last 7 years.

Publication Fee
$65 + $10 delivery fee = $75 plus $9.75 HST for a total of $84.75

2. IFRS TECHNICAL SUMMARIES – 2010

For the 2010 UFE, candidates are responsible for 21 International Accounting Standards plus 7 Interpretations. It will be important to (1) know the technical Standard and Interpretation; (2) understand how the Standard and Interpretation differs from GAAP; and (3) how to apply the Standard and Interpretation in a case.

PASS has prepared extensive notes on these 21 Standards and 7 Interpretations for the 2010 UFE. These detailed notes explain each Standard and Interpretation, focusing on the key differences between IFRS and GAAP and provide candidates with guidance on likely areas to come up in the UFE.

These notes will help candidates efficiently prepare for IFRS on the 2010 UFE.

The publication also includes 2 comprehensive cases along with detailed solutions, which are used to illustrate how various areas of IFRS can be tested in the SOA and UFE. This publication will provide students with a good grasp of both the technical material and how it differs from current GAAP, as well as how to incorporate this material into cases.

Note – Students who attended the PASS IFRS course in May 2010 already have this publication.

Publication Fee
$75 + $10 delivery fee = $85 plus $11.05 HST for a total of $96.05

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