Fac3703 notes Study guides, Study notes & Summaries

This exam pack contains • Exam question papers • Memorandums • Summary of the course material • Additional notes. All of the best for your exams!

Exam Pack contains • Exam question papers • Memorandums • Summary of the course material • Additional notes.

This exam pack contains • Exam question papers • Memorandums • Summary of the course material • Additional notes. All of the best for your exams!

FAC3703 ASSIGNMENT 1 – SEMESTER 1 OF 2020 Ultra Speed Ltd Notes for the year ended 31 March 2019 1. Profit before tax Profit before tax is stated after taking the following items into account R Incomes Finance Income 85 406 Expenses Finance Cost Depreciation: Right of use asset 107 164 300 536 2. Leases 2.1. Right of use asset Equipment R Carrying amount at beginning of year [

FAC3703 ASSIGNMENT 2 – SEMESTER 1 OF 2018 ENZO LTD NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Expenses Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 2. Net Investment in finance leases 2.1. Reconciliation of net investment in finance leases: 2017 R Opening balance New leases entered into Repayments of Capital (128 0...

c) i) Discussion re recognition of government grant A government grant is initially recognised when the amount is received or receivable – which was received on 1 April 2016, and when it is reasonably assured that the conditions attached will be met, i.e., that the entity will not retrench any staff under 35 years of age. The subsequent recognition of a government grant depends on the type of grant and the accounting policy of the entity. This government grant is an income-based grant as...

FAC3703-Specific Financial Reporting ASSIGNMENT 2 SEMESTER 1 OF 2018. ENZO LTD NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Expenses Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 2. Net Investment in finance leases 2.1. Reconciliation of net investment in finance leases: 2017 R Opening balance New leases entered into Repa...

FAC3703 - Specific Financial Reporting ASSIGNMENT 2 -SEMESTER 1 OF 2018. ENZO LTD NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017 1. Profit before tax Profit before tax is shown after taking the following into account: 2017 R Income Finance Income (calculation 4) 79 966 Expenses Finance cost (300 000 ∗ 2 ∗ 9%) 54 000 2. Net Investment in finance leases 2.1. Reconciliation of net investment in finance leases: 2017 R Opening balance New leases entered into ...

Specific Financial Reporting FAC3703 The above mentioned grant is: (1) An asset-based grant (2) An income-based grant (3) An expense-based grant (4) An equity-based grant (5) A statement of financial position grant QUESTION 2 The amount of the government grant that will be recognised during the financial year ended 31 December 2012 will be accounted for as follows (assume that the transaction on 2 January 2012 has already been accounted for): (1) Debit ...