ACCA—FR 真金題

塞內(nèi)加曾說過“只要持續(xù)地努力，不懈地奮斗，就沒有征服不了的東西?！盇CCA備考就要不放過一分一秒，從現(xiàn)在開始，每日一練，一天一個知識點。

Jeffers Co prepares financial statements for the year ended 31 December 20X8. The financial statements are expected to 

be authorised for issue on 15 March 20X9.

The following three events have occurred in January 20X9:

(1) Health and safety fine 

A health and safety investigation of an incident which occurred in 20X8 was concluded in January 20X9, resulting in a $1·5m fine for Jeffers Co. A provision for $1m had been recognised in Jeffers Co’s financial statements for the year ended 31 December 20X8.

(2) Customer ceased trading

Notice was received on 10 January 20X9 that a customer owing $1·2m at 31 December 20X8 had ceased trading. It is unlikely that the debt will be recovered in full.

(3) Acquisition of a competitor

The acquisition of a competitor was finalised on 10 January 20X9, being the date Jeffers Co obtained control over the competitor. Negotiations in respect of the acquisition commenced in May 20X8.

In addition to this, there is an outstanding court case at 31 December 20X8 relating to faulty goods supplied by Jeffers Co. 

Legal advice states that there is a small chance that they will have to pay out $6m, but the most likely outcome is believed to be a payout of $5m. Either way, Jeffers Co will have to pay legal fees of $0·2m. All payments are expected to be made on 31 December 20X9. Jeffers Co has a cost of capital of 10% (discount factor 0·909).

Jeffers Co believes the fault lies with the supplier, and is pursuing a counter-claim. Legal advice states that it is possible, but not likely, that this action will succeed.

26 Which, if any, of the following statements regarding IAS Events after the Reporting Period 10 is/are correct?

(1) ‘Events after the reporting period’ are deemed to be all events from the date the financial statements are authorised for issue up until the date of the annual meeting with the shareholders

(2) Non-adjusting events do not need to be reflected in any part of an entity’s financial statements or annual report

A 1 only

B 2 only

C Both 1 and 2

D Neither 1 nor 2

27 Which of the three events which occurred in January 20X9 would be classified as adjusting events in accordance with IAS 10?

(1) Health and safety fine

(2) Customer ceased trading

(3) Acquisition of a competitor

A 1 and 2 only

B 1 and 3 only

C 2 and 3 only

D 1, 2 and 3

28 What amount should be recorded as a provision in respect of the outstanding court case against Jeffers Co as at 31 December 20X8 (to the nearest hundred thousand)?

A $5·6m

B $5·5m

C $4·7m

D $4·5m

7 [P.T.O.

29 At 31 December 20X8, which of the following represents the correct accounting treatment of the counter-claim made by Jeffers Co against the supplier?

A Nothing is recognised or disclosed in the financial statements

B Disclose as a contingent asset

C Recognise a receivable from the supplier

D Net the possible counter-claim proceeds from the supplier against the provision for legal claim 

30 In February 20X9, a major fire broke out in Jeffers Co’s property and warehouse. Jeffers Co has no insurance, and now the management of the company believes it is unable to continue trading.

How should this be reflected in Jeffers Co’s financial statements for the year ended 31 December 20X8?

A No adjustment should be made to the figures in the financial statements, however, this event must be disclosed in the notes

B The financial statements can no longer be prepared on a going concern basis

C No disclosure is required in the financial statements, however, this event must be reflected in the financial statements for the year ended 31 December 20X9

D The financial statements should continue to be prepared using the going concern basis, with an impairment loss recognised against the non-current assets

前往ACCA學(xué)習(xí)專區(qū)下載歷年試題及答案解析>>

為了幫助備考ACCA考試的小伙伴們高效學(xué)習(xí)，正保會計網(wǎng)校為大家提供諸多班次以及專業(yè)師資，幫助大家盡早拿下ACCA：

點擊查看2021年ACCA新課，早買更優(yōu)惠>>