advanced financial accounting 7th edition 11 doc

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... 6.19.Chapter 11 · Reporting financial performance 293time, adds to the greater clarity of financial statements and indicates the fact that far lessemphasis is now being given to realisation in financial ... net assets.15SSAP 25, Para. 41.Chapter 11 · Reporting financial performance 311 Two or more parties are related parties when at any time during the financial period:(i) one party has direct ... are:296 Part 2 · Financial reporting in practiceSegmental reporting The financial statements of a company and the consolidated financial statements of a groupsummarise the results and financial position...

advanced financial accounting 7th edition_11 doc

... Carrying value Tax valueBuildings 500 300 100Plant and equipment 40 30 15Stock 124 114 114 Debtors 110 110 110 Retirement benefit liability (60) (60) –Creditors (105) (105) (105)–––– –––– ––––609 ... transaction and in past transactions, had to be in the form of votingequity shares. 11 10SSAP 23, Para. 11. 11 As we shall see below, this last condition has been tightened considerably by the ... combining entities, the date ofthe combination and whether merger accounting or acquisition accounting has been used.When merger accounting has been used, the required disclosure includes an analysis...

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... Country plc 117 000Overseas Inc. 110 000 227 000––––––––less TaxationHome Country plc 60 000Overseas Inc. 50 000 110 000–––––––– –––––––– 117 000less Minority interest, 20% of ( 110 000 – ... (i)):Freehold properties 800 114 0 340Plant and machinery 110 0 1400 300Investments at cost 100 110 10––––– ––––– –––––2000 2650 650––––– –––––Current assetsStock 110 0 1680 580Debtors (note ... method. (4 marks)ACCA, Advanced Financial Accounting, June 1993 (30 marks)16.5 The balance sheets of UK plc and its subsidiaries France SA and US Inc at 30 September1998 (the accounting date for...

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... to replace historical cost accounting by current cost accounting as the mainbasis of accounting have failed, the debate has had a considerable impact on financial accounting practice. During ... coterminous accounting period declares a dividend after the endof the holding company’s year end. (10 marks)ACCA, Advanced Financial Accounting, December 1992 (20 marks)72 Part 1 · The framework of financial ... Total capitalBasis of valuation £ £Historical cost 10.00 1000Replacement cost 11. 00 110 0Net realisable value 11. 50 115 0Closing position (120 units)Unit price Total capitalBasis of valuation...

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... inanswer to requirement (b) (i) above. (6 marks)CIMA, Financial Accounting – UK Accounting Standards, November 2002 (20 marks)5.8 (a) Accounting practices for fixed assets and depreciation ... of accounting has produced wider differences in practice than the computation of theamount at which stocks and work in progress are stated in financial accounts. This statementof standard accounting ... Contracts, is based on IAS 11, Construction Contracts which, it is understood, the IASB is not likely to revise in the foresee-able future.overview 114 Part 2 · Financial reporting in practicesmall...

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... 18.0 110 .85 110 .8 22.2 133.0 133.0* –* Interest 18.0 + Redemption price 115 .0.190 Part 2 · Financial reporting in practiceHedge accounting comes into play when the application of the normal accounting ... 23 Financial Instruments: Hedge Accounting (2002)● FRS 13 Derivatives and other Financial Instruments: Disclosure (1998)● FRED 30 Financial Instruments: Disclosure and Presentation and Financial ... Corporate Finance, No. 211, June 2002.F.J. Fabozzi (ed.), The Handbook of Financial Instruments, Hoboken, N.J., Wiley, 2002.S.G. Ryan, Financial Instruments and Institutions – Accounting and Disclosure...

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... marks)CIMA, Financial Reporting – UK Accounting Standards, November 2001 (20 marks)9.3 Financial Reporting Standard 5 Reporting the Substance of Transactions requires an entity’s financial statements ... adopted for accounting for operating leases and finance leases and, indetail, the policy for accounting for finance lease income;(b) the aggregate rentals receivable in respect of an accounting ... the requirements of accounting standards.6SIC 12 is an Interpretation of the Standing Interpretation Committee of, in this case, IAS 27 Consolidated Financial Statements and Accounting for Investments...

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... Timing difference£££20X1 2500 112 5 137520X2 1875 112 5 75020X3 1406 112 5 28120X4 1055 112 5 (70)20X5 791 112 5 (334)20X6 593 112 5 (532)20X7 445 112 5 (680)20X8 335 112 5 (790)––––– ––––– ––––9000 ... recent edition is the 7th edition, edited by A. Wilson, M. Davies, M. Curtis and G. Wilkinson-Riddle, published by Butterworths Tolley in 2001. Therelevant chapter is 24.Chapter 11 · Reporting financial ... thing andwhat problems might this give preparers and users of financial statements?ICAEW, Financial Accounting 2, July 1994 (12 marks) 11. 13 A plc is a company which is listed on the UK Stock Exchange....

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... 2600––––––––526000–––––––– 119 2900Current liabilitiesCreditors (303240)Overdraft (270480)––––––––(573720)––––––––Non-current liabilities10% debentures (208000)––––––––Capital employed 4111 80––––––––––––––––Capital ... to the directors how the scheme will be fair to all relevant parties. (5 marks)ACCA, Advanced Financial Accounting, June 1992 (30 marks)18.7 Aztec plc was incorporated in 1968 as an importer ... RosyPlums plc and the minimum content that you consider desirable. (10 marks)ACCA Level 3, Advanced Financial Accounting, December 1989 (20 marks)Chapter 18 · Capital reorganisation, reduction and...

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... assets 9 850 9 850Cash 1 195 320––––––– ––––––– 11 045 10 170Additional cash generatedby fresh borrowings 295 117 0––––––– ––––––– 11 340 11 340––––––– –––––––––––––– –––––––Share capital ... Dec) WorkingsSales, 36 000 × 110 /100 £39 600less Opening stock,£6000 × 110 /90 7 333Purchases,£30 000 × 110 /100 33 000–––––––40 333less Closing stock,£90 000 × 110 /100 9 900 30433––––––– ... loan 295 4 795 1 170 5 670–––––– ––––––– –––––– ––––––– 11 340 11 340––––––– –––––––––––––– –––––––Debt-to-equity ratio 1 : 1.36 1 : 1 Financial capital maintenanceWe will now consider current...

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