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- Definition of intangible asset - Definition broken down for discussion question and understanding - Recognition criteria - Initial measurement - Amortisation - Impairment - Residual value - Cost model vs Revaluation Model

- Definition of Property, plant and equipment - Initial measurement - Subsequent measurement - Depreciation and residual value - Impairments - Revaluation Model calculation

- Definition of borrowing costs - Qualifying asset definition - Dates to be used - Specific loans calculation framework

- Definition of inventory - Recognition - Subsequent measurement - Credit terms calculation - Initial measurement = Purchase cost, conversion cost and other costs - Overhead example - Inventory systems - Fixed and variable manufacturing overheads - Imports - Net realisable value and journals - Manufacturing t-accounts

Conceptual framework defined including - Definitions of asset, liability, income and expenses. This includes fundamental qualitive characteristics and enhancing characteristics, measurement and presentation and disclosure. IFRS 18 includes statement of profit or loss and other comprehensive income, statement of financial position, statement of changes in equity. Steps to distinguish between financing, investing and operating category

Audit planning process described. This involves: ISA 300 - Planning an audit ISA 315 - Risk if material misstatement (overall) Risk of material misstatement assertion Risk indicators and implications through assertions of Inventory, Debtors and Revenue. ISA 240 - Fraud Risk ISA 320 - Materiality and the calculation thereof

Nature and purpose of the inventory and production cycle, inlduing all the functions within. Each function contains documents used, function, risk, control objective and manual controls. Functions include: - Warehouse - Physical controls - Comparisons and reconciliations - Planning and preperation - Design of stationary - Written instructions - Conducting the count

Explanation of processing/application controls and description of control objectives. Process for batches by using preparations, input, processing and output, while including validity, completeness and accuracy. Changes in the Masterfile - main control and manual controls.

Background to internal controls with policies and procedures

Explanation of recommendations of the King V report and code and principle of the code and report. Such as: Principle 2 - Ethics Principle 5 - Composition of the Governing Body Principle 6 - Committees of Governing Body Principle 7 - Appointment and delegation to management Principle 12 - Assurance