Fac3701 exam pack 2 general financial reporting Study guides, Class notes & Summaries

FAC3701 EXAM PACK 2 GENERAL FINANCIAL REPORTING 3 OCTOBER – NOVEMBER SOLUTION 1: CONCEPTUAL FRAMEWORK, ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES & ERRORS, INCOME TAXES, PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS & REVENUE PART A (a) Liability in respect of network airtime (i) The resulting from rent received in advance will result in a performance obligation. This performance obligation should be quantified and recognised as a liability if it fits into...

FAC3701 EXAM PACK. FAC3701 - General Financial Reporting. CONCEPTUAL FRAMEWORK, ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES & ERRORS, INCOME TAXES, PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS & REVENUE PART A (a) Liability in respect of network airtime (i) The resulting from rent received in advance will result in a performance obligation. This performance obligation should be quantified and recognised as a liability if it fits into the definition of a liability i...

FAC3701-FULL STUDY PACK FOR 2019 EXAM PREP INCLUDE PAST PAPERS QUESTIONS AND SOLUTIONS. The accounts receivable balance in the above trial balance consists only of rent paid in advance for the property the company currently occupies. The rent paid in advance relates to the rental for January 20.5, which was already paid in December 20.4. The accounts receivable balance at the end of the previous financial year amounted to Rnil. 2. The accounts payable balance in the above trial balance consi...