The solutions manual for advanced financial accounting 3 ppt

... 1 · The framework of financial reporting other words if, using the selected basis of valuation, the value of the assets at the time t 0 was £1000 and the value at the time t 1 £1500, is the profit ... the period. If money capital is to be maintained then the profit for the period is the difference between the values of assets less liabilities at the start and e...

Ngày tải lên: 21/06/2014, 04:20

... fleet in the financial statements on the basis of the above scenario for the financial years ending on: (a) 31 March 2000. (4 marks) (b) 31 March 2001, 2002. (6 marks) (c) 31 March 20 03 before revaluation. ... critical question is whether the asset is being held for sale or not. If the best thing the entity could do is sell the asset (but not replace it) then the...

Ngày tải lên: 21/06/2014, 04:20

... explain the appropriate accounting treatment required for the year ended 30 November 1998 for each of the above projects. (6 marks) (b) Calculate and disclose the appropriate amounts for the financial ... 32 22 –– –– –– –– 30 35 35 37 –– –– –– –– –– –– –– –– Requirement Calculate the amounts which should be included in the financial statements for the year...

Ngày tải lên: 21/06/2014, 04:20

... 18.0 104.4 3 104.4 20.9 125 .3 18.0 107 .3 4 107 .3 21.5 128.8 18.0 110.8 5 110.8 22.2 133 .0 133 .0* – * Interest 18.0 + Redemption price 115.0. 196 Part 2 · Financial reporting in practice The structure ... premium account but, for the reasons explained above, the authors are of the view that it should be charged to the profit and loss account over the life of the deb...

Ngày tải lên: 21/06/2014, 04:20

... Total ££££ 20X1 22 539 22 539 20X2 24 7 93 2254 27 047 20X3 27 778 39 67 2002 33 747 20X4 30 000 6667 36 667 Total 120 000 The expected rate of return on assets and the differences between the expected ... returns on assets for 20X1 20X2 20X3 20X4 the year £££ £ Opening balance – 21 35 3 45 412 78 6 93 12% on opening balance – 2 562 5 449 94 43 Contributions to scheme 21 3...

Ngày tải lên: 21/06/2014, 04:20

... 64 20X5 (5 machines) 38 0 38 0 – – 64 20X6 (5 machines) 38 0 38 0 – – 64 32 2 Part 2 · Financial reporting in practice (6) The taxation charge for the year ended 30 April 2002 is 35 0 000. No changes ... include the gross amount, that is dividend plus tax credit, as part of their income and then deduct the tax credit from the income tax payable for the year subject 2 T...

Ngày tải lên: 21/06/2014, 04:20

... and 3. 1 .3) . When it turned to the subject of accounting for purchased goodwill there was much less certainty. The paper identified the six methods of accounting for goodwill shown in Table 13. 4. ... those of the other are shown at their historical cost values? Why should we recognise goodwill for one company but not for the other? A further criticism could be made...

Ngày tải lên: 21/06/2014, 04:20

... 000 for the year ended 31 May 1999) 700 ––––– 630 0 ––––– ––––– Requirements (a) Calculate and disclose the amounts for goodwill to be included in the financial state- ments for Islay plc for the ... goodwill 39 3 You are required to discuss the above statement stating, with reasons, whether there is a need for two different methods. CIMA, Advanced Financial Acco...

Ngày tải lên: 21/06/2014, 04:20

... amounts, together with the effects of including them, as additional information to its own financial statements. In the former case, the treatment will be as illustrated above. In the the latter ... the ordinary share capital and 30 % of the preference share capital of Glenshee Ltd for £2 million on 1 November 1994. The draft profit and loss accounts for the companies...

Ngày tải lên: 21/06/2014, 04:20