Exam Guide for June 2014 (F7 Financial
Reporting)
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Question 1
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Consolidated SOFP
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Parent and Subsidiary
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Calculation of Full goodwill
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Fair value adjustment and additional depreciation
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Unrealised profits
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Goods in transit
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NCI Calculation
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Consolidated SOPL
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Parent, Subsidiary
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Fair value adjustment and additional
depreciation
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Calculation of Full goodwill
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Unrealised profits
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Inter company interest income/expense
cancellation
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Apportionment of Other Comprehensive Income
between Parent’s shareholders and NCI
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NCI calculation
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Question 2
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Preparation of SOFP, SOPL and SOCE
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Depreciation adjustment i.e. straight line
and reducing balance
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Nominal interest vs effective interest;
Calculation of Amortised cost for Loan payable
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Revenue and Cost of Sales adjustments i.e.
Sale or return, Agent vs Principal income recognition (IAS 18 Revenue)
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Current Tax and Deferred Tax adjustment
(IAS 12 Taxation)
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Dividend calculation
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Accounting standards (Two of the
followings):
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IAS 8 Accounting policies, changes in
estimates and errors (Fraud)
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IAS 33 Earnings per share
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IAS 36 Impairment of Assets
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IAS 38 Intangible Asset
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IAS 32 Financial Instruments:Presentation
(convertible loan note)
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Question 3
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Statement of Cash Flows
Ratio analysis
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Question 4
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(a) Accounting
concepts i.e. Faithful representation, Accrual, Relevance, etc. from the Conceptual
Framework for Financial Reporting
(b) One or
more of the following standards:
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IAS 10 Post Reporting Period Events
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IFRS 5 Non-current Assets Held for sale and
Discontinued operation
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IAS 37
Provisions, Contingent liabilities and assets
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IAS 32 Financial
instruments: Presentation
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Question 5
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One or more of the
following standards:
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IAS 8 Accounting policies, changes in
estimates and errors
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IAS 36 Impairment
of assets
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IAS 38 Intangible Assets
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