FINANCIAL REPORTING
Section A Section B Section C 100 Marks
30 Marks 30 Marks 40 Marks 3 Hours
15 Question 3 Question(Case Studies) 2 Question
2 Marks Each 1 10 Marks IFRS 16/ IAS 12 20 Marks Consolidation/ Ratio
Optional 2 10 Marks NCA/ IFRS 15 20 Marks IAS 1/ Cashflow
3 10 Marks IAS 37/ IFRS 9
20 Marks
14 Marks 6 Marks
7 Valid Points Calculate
Half Hour One Hour One and half Hour
time Bonusfraction
1 1-Jan-24 3000000 *5/12 *4/3 1250000
1666667
1-Jun-24 1000000 *3/12 1000000
4000000
1-Sep-24 1000000 *4/12 1666667
5000000
4333333
2000000
0.46153846
46.1538462
2
bal bd int sub pay bal cd
45000 3150 48150 10975 37175
37175 2602.25 39777.25 10975 28802.25
28802.25 2016.158 30818.4075 10975 19843.41
19843.41 1389.039 21232.446 10975 10257.45
10257.45 718.0212 10975.4672 10975 0.467247
3
, 6000000 10500000
200000
1250000 56000
7250000 10644000
1.468138
6
bal bd int sub pay bal cd
140000 19600 159600 60000 99600
99600 13944 113544 60000 53544
53544 7496.16 61040.16 60000 1040.16
13944
200000
66666.6667
80610.6667
to provide financial instrumrnt
6
0.15
TERp
3 2.2 6.6
1 1.6 1.6
4 8.2
2.05
*2.2/2.05
60.75
bal bd int sub pay bal cd
100650 8052 108702 15000 93702
93702 7496.16 101198.16 15000 86198.16
86198.16 6895.853 93094.0128 15000 78094.01
78094.01 6247.521 84341.5338 15000 69341.53
,69341.53 5547.323 74888.8565 15000 59888.86
59888.86 4791.109 64679.9651 15000 49679.97
49679.97 3974.397 53654.3623 15000 38654.36
38654.36 3092.349 41746.7112 15000 26746.71
26746.71 2139.737 28886.4481 15000 13886.45
13886.45 1110.916 14997.364 15000 -2.636013
8052
10065
18117
13587.75
Bal cf payment subtotsl int balcf
340000 90000 250000 25000 275000
275000 90000 185000 18500 203500
203500 90000 113500 11350 124850
124850 90000 34850 3485 38335
38335 90000 -51665 -5166.5 -56831.5
bal bd int sub pay bal cd
4657500 279450 4936950 750000 4186950
4186950 251217 4438167 750000 3688167
3688167 221290 3909457.02 750000 3159457
3159457 189567.4 3349024.44 750000 2599024
2599024 155941.5 2754965.91 750000 2004966
2004966 120298 2125263.86 750000 1375264
1375264 82515.83 1457779.69 750000 707779.7
707779.7 42466.78 750246.475 750000 246.4755
4695000
586875
279450
866325
, IFRS 15
IFRS 15 have replaced IAS 18 and IAS 11
Step 1 Identify the contract
Step 2 Identify the separate performance obligation
Step 3 Determine the transaction price
Step 4 Allotcate the transaction price
Step 5 Recognise the revenue when the performance is satisfied
Step 1
Identify the contract
Terms Defined Legal Rights Probable chances of Economic Benefits
Example Financial position of Buyer
Objective of buying those goods
Payment Terms
Step 2
Identify the separate performance obligation
The entity promise to The customer gets
provide that goods or benefit from those
service is seprately goods or services
Identifiable from other seperately.
service in the contract (Benefited Separately)
(Provided seperately)
Example of single PO Example of separate PO
Construction of building Teaching+books
Teaching one paper Generator+Maintainance
Mobile+Sim contract
Drugs+Marketing
Cars+Warranty
Goods sold+Warehouse services(bill and hold)
Step 3
Determine the transaction price
1 Variable Consideration
Can only be Booked to the Extent where reversal is Impossible
Meaning ~ If there is a high Probability that you will achieve the target
Otherwise its not allowed
Example Penalty/Incentive Clause
Sale or Return Basis
Section A Section B Section C 100 Marks
30 Marks 30 Marks 40 Marks 3 Hours
15 Question 3 Question(Case Studies) 2 Question
2 Marks Each 1 10 Marks IFRS 16/ IAS 12 20 Marks Consolidation/ Ratio
Optional 2 10 Marks NCA/ IFRS 15 20 Marks IAS 1/ Cashflow
3 10 Marks IAS 37/ IFRS 9
20 Marks
14 Marks 6 Marks
7 Valid Points Calculate
Half Hour One Hour One and half Hour
time Bonusfraction
1 1-Jan-24 3000000 *5/12 *4/3 1250000
1666667
1-Jun-24 1000000 *3/12 1000000
4000000
1-Sep-24 1000000 *4/12 1666667
5000000
4333333
2000000
0.46153846
46.1538462
2
bal bd int sub pay bal cd
45000 3150 48150 10975 37175
37175 2602.25 39777.25 10975 28802.25
28802.25 2016.158 30818.4075 10975 19843.41
19843.41 1389.039 21232.446 10975 10257.45
10257.45 718.0212 10975.4672 10975 0.467247
3
, 6000000 10500000
200000
1250000 56000
7250000 10644000
1.468138
6
bal bd int sub pay bal cd
140000 19600 159600 60000 99600
99600 13944 113544 60000 53544
53544 7496.16 61040.16 60000 1040.16
13944
200000
66666.6667
80610.6667
to provide financial instrumrnt
6
0.15
TERp
3 2.2 6.6
1 1.6 1.6
4 8.2
2.05
*2.2/2.05
60.75
bal bd int sub pay bal cd
100650 8052 108702 15000 93702
93702 7496.16 101198.16 15000 86198.16
86198.16 6895.853 93094.0128 15000 78094.01
78094.01 6247.521 84341.5338 15000 69341.53
,69341.53 5547.323 74888.8565 15000 59888.86
59888.86 4791.109 64679.9651 15000 49679.97
49679.97 3974.397 53654.3623 15000 38654.36
38654.36 3092.349 41746.7112 15000 26746.71
26746.71 2139.737 28886.4481 15000 13886.45
13886.45 1110.916 14997.364 15000 -2.636013
8052
10065
18117
13587.75
Bal cf payment subtotsl int balcf
340000 90000 250000 25000 275000
275000 90000 185000 18500 203500
203500 90000 113500 11350 124850
124850 90000 34850 3485 38335
38335 90000 -51665 -5166.5 -56831.5
bal bd int sub pay bal cd
4657500 279450 4936950 750000 4186950
4186950 251217 4438167 750000 3688167
3688167 221290 3909457.02 750000 3159457
3159457 189567.4 3349024.44 750000 2599024
2599024 155941.5 2754965.91 750000 2004966
2004966 120298 2125263.86 750000 1375264
1375264 82515.83 1457779.69 750000 707779.7
707779.7 42466.78 750246.475 750000 246.4755
4695000
586875
279450
866325
, IFRS 15
IFRS 15 have replaced IAS 18 and IAS 11
Step 1 Identify the contract
Step 2 Identify the separate performance obligation
Step 3 Determine the transaction price
Step 4 Allotcate the transaction price
Step 5 Recognise the revenue when the performance is satisfied
Step 1
Identify the contract
Terms Defined Legal Rights Probable chances of Economic Benefits
Example Financial position of Buyer
Objective of buying those goods
Payment Terms
Step 2
Identify the separate performance obligation
The entity promise to The customer gets
provide that goods or benefit from those
service is seprately goods or services
Identifiable from other seperately.
service in the contract (Benefited Separately)
(Provided seperately)
Example of single PO Example of separate PO
Construction of building Teaching+books
Teaching one paper Generator+Maintainance
Mobile+Sim contract
Drugs+Marketing
Cars+Warranty
Goods sold+Warehouse services(bill and hold)
Step 3
Determine the transaction price
1 Variable Consideration
Can only be Booked to the Extent where reversal is Impossible
Meaning ~ If there is a high Probability that you will achieve the target
Otherwise its not allowed
Example Penalty/Incentive Clause
Sale or Return Basis
