ACCA PAPER F7 FINANCIAL REPORTING
JOE FANG
Exam Guide for June 2012 (F7 Financial Reporting) Question 1
Question 2
Question 3 Question 4
Consolidated SOCI Parent, Subsidary and Associate Calculation of Full goodwill Calculation of carrying amount for Investment in Associate Pro-rated income for either Sub or Asc Unrealised profits Apportionment for Other Comprehensive Income between Parent’s shareholders and NCI NCI Calculation Consolidated SOFP Parent, Subsidiary and Associate Fair value adjustment and additional depreciation Calculation of Full goodwill Unrealised profits Inter company balance cancellation Cash in transits Apportionment of Other equity reserve between Parent’s shareholders and NCI NCI calculation Preparation of SOFP, SOCI and SOCE Depreciation adjustment i.e. straight line and reducing balance Nominal interest vs effective interest; Calculation of Amortised cost for Loan payable Revenue and Cost of Sales adjustments i.e. Sale or return, Agent vs Principal income recognition Current Tax and Deferred Tax adjustment Dividend calculation Accounting standards (Two of the followings): FRS 17 Lease FRS 11 Construction Contract FRS 38 Intangible Asset FRS 36 Impairment of Assets FRS 37 Provisions, Contingent Liabilities and Assets FRS 32 Financial Instrument: Presentation (convertible loan note) Statement of Cash Flows Ratio analysis (a) Accounting concepts i.e. Faithful representation, Accrual, Relevance, etc. from the Framework for the Preparation of Financial Statements (b) One of the following standard: FRS 36 Impairment of Assets FRS 17 Lease Substance over From FRS 8 Accounting Policies, Changes in Estimates and Errors
Question 5 -
1
One of the following standard: FRS 38 Intangible Asset FRS 10 Post Reporting Events FRS 20 Accounting for Government Grants