Acca financial reporting Study guides, Class notes & Summaries
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![CPCE Study Guide 1945 Questions with Answers 2023,100% CORRECT](/docpics/3141751/64c2bd5d8f302_3141751_121_171.jpeg)
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CPCE Study Guide 1945 Questions with Answers 2023,100% CORRECT
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CPCE Study Guide 1945 Questions with Answers 2023 
 
 
The Sensorimotor period is part of whose developmental stage theory? - CORRECT ANSWER Piaget 
 
Presenting stimuli in different sequences to reduce "order of presentation" influences in an experiment is called: - CORRECT ANSWER Counterbalancing 
 
The Eskimo word "piblokto" refers to "arctic hysteria," characterized by uncontrolled screaming and crying that is often accopanied by running through the snow naked. This is an example of what kin...
![ACCA Financial Reporting Questions With Complete Solutions](/docpics/3346558/64f0f3664c6a2_3346558_121_171.jpeg)
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ACCA Financial Reporting Questions With Complete Solutions
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IAS 1 Presentation of Financial Statements correct answer: States that a complete set of financial statements comprises: 
 
- A statement of financial position 
- A statement of profit or loss 
and other comprehensive income 
- A statement of changes in equity 
- A statement of cash flows 
- Accounting policies and explanatory notes 
 
Property, plant, and equipment (IAS 16) correct answer: Tangible assets held by an entity for more than one accounting period for use in the production or suppl...
![ACCA financial reporting Questions With Complete Solution](/docpics/3346572/64f0f3a7f2bf2_3346572_121_171.jpeg)
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ACCA financial reporting Questions With Complete Solution
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How is revenue treated that is receivable 2 years after the goods are delivered? correct answer: The amount of revenue initially recognised is the amount receivable discounted to present value. 
Interst is then applied to the receivable as interest income over 2 years 
 
IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? correct answer: Fair value with changes going through profit or loss 
 
What are acce...
![ACCA financial reporting Questions With Complete Solution](/docpics/3371629/64f63a9933c86_3371629_121_171.jpeg)
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ACCA financial reporting Questions With Complete Solution
- Exam (elaborations) • 81 pages • 2023
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How is revenue treated that is receivable 2 years after the goods are delivered? correct answer: The amount of revenue initially recognised is the amount receivable discounted to present value. 
Interst is then applied to the receivable as interest income over 2 years 
 
IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? correct answer: Fair value with changes going through profit or loss 
 
What are acce...
![ACCA Financial Reporting Questions With Complete Solutions.](/docpics/3371614/64f63a350a5a2_3371614_121_171.jpeg)
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ACCA Financial Reporting Questions With Complete Solutions.
- Exam (elaborations) • 40 pages • 2023
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IAS 1 Presentation of Financial Statements correct answer: States that a complete set of financial statements comprises: 
 
- A statement of financial position 
- A statement of profit or loss 
and other comprehensive income 
- A statement of changes in equity 
- A statement of cash flows 
- Accounting policies and explanatory notes 
 
Property, plant, and equipment (IAS 16) correct answer: Tangible assets held by an entity for more than one accounting period for use in the production or suppl...
![Summary ACCA Financial Reporting Complete Latest 2023/2024](/docpics/3152342/64c5790f328fb_3152342_121_171.jpeg)
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Summary ACCA Financial Reporting Complete Latest 2023/2024
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IAS 1 Presentation of Financial Statements - Correct Answer States that a complete set of financial statements comprises: 
 
- A statement of financial position 
- A statement of profit or loss 
and other comprehensive income 
- A statement of changes in equity 
- A statement of cash flows 
- Accounting policies and explanatory notes 
 
Property, plant, and equipment (IAS 16) - Correct Answer Tangible assets held by an entity for more than one accounting period for use in the production or suppl...
![ACCA financial reporting ALL SOLUTION 100% CORRECT SPRING FALL-2023/24 EDITION GUARANTEED GRADE A+](/docpics/64186fd516873_2492706.jpg)
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ACCA financial reporting ALL SOLUTION 100% CORRECT SPRING FALL-2023/24 EDITION GUARANTEED GRADE A+
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How is revenue treated that is receivable 2 years after the goods are delivered? 
The amount of revenue initially recognised is the amount receivable discounted to present value. 
Interst is then applied to the receivable as interest income over 2 years 
IFRS 9 requires investments in equity instruments to be measured and accounted for ( in the absence of any election at initial recognition)? 
Fair value with changes going through profit or loss 
What are acceptable methods of accounting for a g...
![ACCA Practice Test Questions with Correct Answers](/docpics/3358794/64f3703329015_3358794_121_171.jpeg)
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ACCA Practice Test Questions with Correct Answers
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ACCA Practice Test Questions with Correct Answers 
Accountability of Internal audit - ANSWER CC 
1 access all parts of th organization 
2auditor can freely comment the performance of managent 
3should be actioned at th highest level to ensure its effectice implementation 
 
Absolution - ANSWER FC one set of ethic rules should fits in all cultures without exception 
 
Accounting - ANSWER CC 
1the transactions: book of primary entry 
2analysed and posted to ledger 
3sum...
![ACCA F3 Exam Questions and Answers All Correct](/docpics/3453445/6507517074a30_3453445_121_171.jpeg)
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ACCA F3 Exam Questions and Answers All Correct
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ACCA F3 Exam Questions and Answers All Correct 
Financial reporting - Answer-is a way of recording, analysing and summarising financial data. 
 
For-profit entities of whatever size or nature exist - Answer-to make a profit. 
 
Not-for-profit entities exist - Answer-for the achievement of specific objectives rather than to make a profit. 
 
Profit - Answer-is the excess of income over expenditure. When expenditure revenue, the business is running at a loss. 
 
A sole tradership - Answer-is a bu...
![ICAEW BTF C10 Structure and regulation of the accountancy profession latest update 2024-2025](/docpics/4696586/65eaf64e3a2d0_4696586_121_171.jpeg)
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ICAEW BTF C10 Structure and regulation of the accountancy profession latest update 2024-2025
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ICAEW BTF C10 Structure and regulation of the accountancy profession 
FRC (Financial Reporting Council) comprises: - correct answer the Conduct Committee + the Codes and Standards Committee 
 
Regulation of professions should NOT protect the profession's vested interests from competition in order to maintain public trust - correct answer True 
 
To appeal Disciplinary Committee decision - correct answer Appeal committee 
 
To appeal Investigation Committee decision - correct answer Discipli...
![FR F7 FINANCIAL REPORTING ACCA SUMMARY REVISION NOTES ALL IFRS STANDARDS UPDATED IFRS 15](/docpics/63bdb7d2daf73_2242256.jpg)
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FR F7 FINANCIAL REPORTING ACCA SUMMARY REVISION NOTES ALL IFRS STANDARDS UPDATED IFRS 15
- Summary • 80 pages • 2023
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Revision notes summarised for financial reporting F7 ACCA KAPLAN textbook notes, concise, contains all topics, enough to pass exam. all IFRS (standards) compiled in one document.
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