CPFM Module II
Public Sector Accounting and Reporting II glossary
Every term this guide defines, A to Z, each with the chapter that teaches it. Open it when a word in a question is unfamiliar, and test yourself on it in the last week: cover the definition and say it in one sentence.
3 terms from the free first chapter
D
- Disclosures
Qualitative and quantitative information about the significance of financial instruments and the risks (credit, liquidity, market) they expose the entity to.
Taught in Accounting for assets and liabilities
H
- Hedging
Designating a financial instrument to offset the risk of changes in the value or cash flows of another item, with specific accounting rules for how gains and losses on the hedge are recognised.
Taught in Accounting for assets and liabilities
I
- Impairment of financial assets
Recognises expected credit losses, so a financial asset's carrying amount reflects realistic collectability, not just its original contractual value.
Taught in Accounting for assets and liabilities
The full glossary adds every term from the other 5 chapters, A to Z, each with the chapter that teaches it.