CFE Financial Reporting

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CFE Financial Reporting - Book

The Bridge To Your Success, This book is prepared to provide CPA candidates with a complete and concise technical coverage of financial accounting topics that are commonly tested in the Common Final Examination (CFE). The text focuses primarily on the key learning points in the standards in order to achieve both depth and breadth in financial accounting under International Financial Reporting Standards (IFRS), Accounting Standards for Private Enterprises (ASPE) and Accounting Standards for Not-for-Profit Organizations (ASNPO).

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This book uses a practical approach to develop and build an effective problem-solving and writing technique for CFE purposes. The focus is on helping CPA candidates to effectively write cases. Candidates are presented with assessments’ opportunities, success tips and hints on applying the standards to cases in order to correctly apply the complex criteria in a practical and easy way.

Many features have contributed to the success of thousands of CPA candidates in passing the Common Final Examination (CFE) over the years. The following points outline just a few.


Complete Technical Coverage

This book covers all the financial reporting competencies in the required depth as specified in the CPA Competency Map. This information helps the CPA candidates planning to write the CFE to link the coverage of financial reporting topics to the CPA educational requirements.


Emphasis on IFRS, ASPE and ASNPO

This book covers the financial reporting topics by referencing each topic to the specific standards in IFRS, ASPE and ASNPO. The coverage of each topic is in the same order presented in the CPA Canada Standards and Guidance Collection (Exam Reference) to facilitate cross reference to the Standards.


Key Differences between IFRS and ASPE

At the end of each topic, an individual IFRS and ASPE icon highlights the items that are treated differently by the two sets of standards in addition to a comparison table to clearly identify any significant differences. The joint IFRS-ASPE icon indicates a direct comparison between the two approaches.


Emphasis on Readability

The readability of the text has been improved by using fewer abbreviations, plainer language, shorter sentences, numbered lists and clearer headings. The key words and terms are highlighted in the text.

Effective Learning Techniques

The text focuses mainly on the key learning points in the standards that are commonly tested in the CFE. Candidates learn exactly the topics that are assessed in cases in an effective, concise and complete coverage.


Enhanced Comparison Flowcharts

Throughout each topic, the comparison flowcharts enhance candidates’ ability to relate to and understand the standards. Flowcharts identify and alert candidates to the major differences and similarities between different standards. Flowcharts facilitate the understanding and reciting of the standards in an easy and feasible way.


Superior Hints to Apply Standards

Throughout each topic, you are presented with tips and hints to apply the standards into cases in order to correctly apply the complex criteria in a practical and easy way. The Hint feature alerts candidates to remember how to learn and apply the standards.


Case Writing Techniques

This book uses a practical approach to develop and build an effective problem-solving and writing technique for CFE purposes. The focus is on how to help CPA candidates to effectively develop a plan, perform an analysis, recommend a course of action, and debrief a case.


Task-Based Simulations

At the end of each standard, we provide an opportunity assessment(s) that is in a format similar to cases used in the CPA program. This allows candidates to become familiar with the CFE format and on how to apply standards to analyze cases.


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About the Author

Mervat Saleh, CPA, CA


Mervat Saleh, CPA, CA, is a Senior Lecturer in the Accountancy department at the John Molson School of Business at Concordia University, where she teaches financial reporting in the Chartered Professional Accountancy program. She has contributed to the life of the university through membership on the Faculty Council, CPA Program Committee, and the undergraduate curriculum review committee, among others. She has developed, coordinated and taught CA, CMA, MBA, CPA and undergraduate courses in advanced financial accounting, managerial accounting, assurance, personal and corporate taxation, and business valuation.

Mervat has been involved in professional accounting education for over 10 years. She is a session leader and coach at the CPA Canada National program in Core I, Taxation, Assurance and Capstone II.

Mervat received her Bachelor of Commerce and Graduate Diploma in Accountancy degrees from Concordia university. She is a member of CPA Canada.

Mervat was a Senior Audit Manager with a CPA firm. She accomplished diverse corporate projects as a consultant applying both Canadian GAAP and International Financial Reporting Standards for various private and public companies.

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