FR 試験問題を無料オンラインアクセス

According to the IASB's Conceptual Framework for Financial Reporting, which of the following characteristics of financial information contribute to faithful representation? (i)Neutrality (ii)Freedom from error
(iii) Completeness
(iv)
Consistency

• A.(i), (ii), (iii) and (iv)
• B.(i), (ii) and (iv) only
• C.(iii) and (iv) only
• D.(i), (ii) and (iii) only

For the year to 31 December 2012, the profit or loss statement of Little Co shows a profit before tax of $150,500 after charging depreciation of $55,000 and interest of $12,200. The company does not hold any inventory and company's policy is not to grant credit to customers. Trade payables at 31 December 2012 were $15,200 greater than the amount owed at 31 December 2011. During the year the taxation liability of $9,500 was paid. No interest was owed at 31 December 2011 and at 31 December 2012.
What should be the 'Net cash from operating activities' in the cash flow statement for the year to 31 December 2012?

• A.$153,200
• B.$211,200
• C.$208,200
• D.$223,400

For the year ended 31 December 2012, the board of directors of USP Inc. is considering the treatment of the following issues in their financial statements.
(i)On 1 March 2013 one of the machine used for manufacturing trading goods met the criteria to classify as held for sale. The carrying amount of the machine at 31 December was $50,000 and its fair value was $52,000. Costs to sell would amount to $4,600.
(ii)On 15 April 2013, USP Inc. settled a court case with a former employee, paying him $30,000. At the reporting date, the financial statement included a provision of $20,000 in respect of this case.
The financial statements were approved on 30 April 2013.
How should the issues above be dealt with?

• A.(i) Non-adjusting event. Classified as a non-current asset held for sale at $47,400 with a disclosure resulting an impairment loss of $2,600.
  (ii)
  Non-adjusting event. Provision should be unadjusted. A charge of $10,000 to profits should be made in the following year end financial statements.
• B.(i) Adjusting event. Classified as a non-current asset held for sale at $47,400 with a disclosure resulting an impairment loss of $2,600.
  (ii)
  Adjusting event. Provision should be adjusted to $30,000, resulting in a charge to profits of $10,000.
• C.(i) Non-adjusting event. Classified as a non-current asset held for sale at $47,400 with a disclosure resulting an impairment loss of $2,600.
  (ii)
  Adjusting event. Provision should be adjusted to $30,000, resulting in a charge to profits of $10,000.
• D.(i) Non-adjusting event. Classified as a non-current asset held at its carrying value of $50,000 with a disclosure resulting an impairment loss of $2,600.
  (ii)
  Adjusting event. Provision should be adjusted to $30,000, resulting in a charge to profits of $10,000.

Parrot Ltd had the following balances in its accounts at 30 April 2006 and 30 April 2007.
30 April 200630 April 2007 $$ Cash in hand1,0001,100 Bank overdraft41,627Cash at bank-21,932 Long term bank loan50,00025,000
In accordance with IAS 7 Statement of Cash Flows, what amount should be shown under net change in cash and cash equivalents in the company's statement of cash flows for the year ended 30 April 2007?

• A.$63,659 increase
• B.$20,295 decrease
• C.$63,559 increase
• D.$16,695 decrease

IAS 19 is intended to prescribe when the cost of employee benefits should berecognizedas a liability or an expense and the amount of the liability or expense that should berecognized.
Which of the following statements regarding IAS 19 is correct?
i)A liability should berecognizedwhen an employee has provided a service in exchange for benefits to be received by the employee at some time in the future.
ii)An expense should berecognizedwhen the entity enjoys the economic benefits from a service provided by an employee regardless of when the employee received or will receive the benefits from providing the service.

• A.(i) is incorrect but (ii) is correct
• B.(i) and (ii) both are incorrect
• C.(i) is correct but (ii) is incorrect
• D.(i) and (ii) both are correct