MQF5 Award in GAPSME

Module 1: GAPSME In General

• Scope of GAPSME
• The distinction between small entities, medium-sized entities and other entities.
• Types of entities prohibited from applying GAPSME.
• The distinction between small groups, medium-sized groups and other groups, and consolidation requirements.
• Companies Act provisions that are relevant to GAPSME.
• Accounting concepts and principles under GAPSME.
• Elements of financial statements.
• The form, content and presentation of GAPSME financial statements.
• Related parties under GAPSME (and related party transactions requiring disclosure).
• Accounting for changes in accounting policies.
• Accounting for changes in accounting estimates.
• Accounting for prior period errors.
• Accounting for events after balance sheet date.
• Functional currency versus presentation currency.
• Accounting for transactions in foreign currency.
• Converting from the functional currency to the presentation currency.
• Accounting for changes in functional currency.
• Accounting for changes in presentation currency.

Module 2: Income Statement

• Classification, measurement and disclosure of transactions connected to the following areas:
  (a) Revenue from goods
  (b) Revenue from construction contracts
  (c) Revenue from other services
  (d) Revenue from other types of income
  (e) Government grants
  (f) Current taxation
  (g) Deferred taxation
  (h) Lease accounting
  (i) Inventory accounting
• Presentation of discontinued operations

Module 3: Balance Sheet

• Classification, measurement and disclosure of transactions connected to the following areas:
  (a) Financial instruments
  (b) Joint operations
  (c) Property, plant and equipment
  (d) Investment property
  (e) Assets held for sale
  (f) Intangible assets
  (g) Impairment
  (h) Provisions and contingencies
• First-time adoption of GAPSME.

All classes are being held online using Microsoft Teams. Access details will be provided instantly after placing the order online.

The only event requiring in-person participation is the exam.

The diploma programme in GAPSME is open to students who:

• either hold A-Levels in Accounting
• or hold a relevant Accounting, Finance, or similar degree

The programme is taught completely in English, so it is expected that students have a good command of English.

An on-site 3-hour exam will be held at ZD Academy’s premises in Mosta on 20th June 2022.

Passing the examination with a satisfactory mark leads to obtaining an MQF Level 5 qualification recognised by the Malta Further & Higher Education Authority. Graduates will receive a hard and soft copy of the certificate, which they can use for further academic or professional progression.

More information on the exam structure and content will be provided by the lecturers during the classes.

The total course fees can be paid in up to 4 equally split monthly installments. To benefit from our flexible payment solution, please select “Bank Transfer” at the checkout and indicate the number of monthly installments in “Order Notes”. While the payment schedule is flexible, a minimum upfront payment of 300 EUR is required upon placing the order, and the last installment must be paid prior to sitting for the exam on the 20th of June.