ACCA/CAT - F7 - 查题吧

A new research project which the subsidiary has correctly expensed to profit or loss but the directors of the parent have reliably assessed to have a substantial fair value
B. A global advertising campaign which was concluded in the previous financial year and from which benefits are expected to flow in the future
C. A contingent asset of the subsidiary from which the parent believes a flow of future economic benefits is possible
D. A customer list which the directors are unable to value reliably

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单选题

On 1 October 20X4, Flash Co acquired an item of plant under a five-year lease agreement. The plant had a cash purchase cost of $25m. The agreement had an implicit finance cost of 10% per annum and required an immediate deposit of $2m and annual rentals of $6m paid on 30 September each year for five years. What is the current liability for the leased plant in Flash Co’s statement of financial position as at 30 September 20X5？

A. $19,300,000
B. $4,070,000
C. $5,000,000
D. $3,850,000

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单选题

Financial statements represent transactions in words and numbers. To be useful, financial information must represent faithfully these transactions in terms of how they are reported. Which of the following accounting treatments would be an example of faithful representation？

A. Charging the rental payments for an item of plant to the statement of profit or loss where the rental agreement meets the criteria for a lease
B. Including a convertible loan note in equity on the basis that the holders are likely to choose the equity option on conversion
C. Treating redeemable preference shares as part of equity in the statement of financial position
Derecognising factored trade receivables sold without recourse to the seller

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不定项选择题

Which of the following statements about intra-group profits in consolidated financial statements is/are correct？ (i) The profit made by a parent on the sale of goods to a subsidiary is only realised when the subsidiary sells the goods to a third party (ii) Eliminating intra-group unrealised profits never affects non-controlling interests (iii) The profit element of goods supplied by the parent to an associate and held in year-end inventory must be eliminated in full

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

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At what amount should the non-controlling interests in Square Co be valued in the consolidated statement of financial position of the Pyramid group as at 30 September 20X5？

(1)Cost of transporting the plant to the factory<br>(2)Cost of installing a new power supply required to operate the plant<br>(3)Cost of a three-year plant maintenance agreement<br>(4)Cost of a three-week training course for staff to operate the plant

Financial statements represent transactions in words and numbers. To be useful, financial information must represent faithfully these transactions in terms of how they are reported.<br>Which of the following accounting treatments would be an example of faithful representation？