题目内容

Which of the following are requirements of preparing consolidated financial statements？
(1)All subsidiaries must adopt the accounting policies of the parent in their individual financial statements
(2)Subsidiaries with activities which are substantially different to the activities of other members of the group should not be consolidated
(3)All entity financial statements within a group should normally be prepared to the same accounting year end prior to consolidation
(4)Unrealised profits within the group must be eliminated from the consolidated financial statements

A. (1)and (3)
B. (2)and (4)
C. (3)and (4)
D. (1)and (2)

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On 1 October 20X4, Hoy Co had $2·5 million of equity share capital (shares of 50 cents each)in issue. No new shares were issued during the year ended 30 September 20X5, but on that date there were outstanding share options which had a dilutive effect equivalent to issuing 1·2 million shares for no consideration. Hoy’s profit after tax for the year ended 30 September 20X5 was $1,550,000.
In accordance with IAS 33 Earnings Per Share, what is Hoy’s diluted earnings per share for the year ended 30 September 20X5？

A. $0·25
B. $0·41
C. $0·31
D. $0·42

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When a parent is evaluating the assets of a potential subsidiary, certain intangible assets can be recognised separately from goodwill, even though they have not been recognised in the subsidiary’s own statement of financial position.
Which of the following is an example of an intangible asset of the subsidiary which may be recognised separately from goodwill when preparing consolidated financial statements？

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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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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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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A. (1)and (3) B. (2)and (4) C. (3)and (4) D. (1)and (2)

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. (1)and (3)
B. (2)and (4)
C. (3)and (4)
D. (1)and (2)

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？