2016 bpp passcard f3 compress

ACCA F3FAFFA: Financial Accounting Passcard cho kỳ thi năm 20152016. Trường Đại học Công nghiệp Hà Nội, năm học 20222023. Kế toán tài chính quốc tế, khoa Kế Toán Kiểm Toán chuyên ngành Kế Toán 0932941209Ggdat3cuagmail.comAEKBKiSirtrinhcao46gmail.comBero_Pro8gmail.comACYmXQu6vA7KTOOTW5Vantungagmail.comFoundations in ProfessionalismDiploma in Accounting and BusinessAdvanced Diploma in Accounting and Business

  ACCA APPROVED CONTENT PROVIDER FIA Passcards FIA FFA / ACCA Paper F3 Financial Accounting Passcards for exams from September 2015 – 31 August 2016   FIA FFA ACCA Paper F3 Financial Accounting   First edition 2011 Fourth edition March 2015 ISBN 9781 4727 3543 eISBN 9781 4727 2876 All rights reserved No part of this publication publication may may be reproduced, stored in a retrieval system or transmitted, in any form or by any any means, electronic, mechanical, photocopying, recording otherwise, without the prior written permission of BPPorLearning Media British Library Cataloguing-in-Publication Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by Printed in the United Kingdom by BPP Learning Learning Media Media Ltd RICOH UK Limited BPP House, Aldine Place Unit 142-144 Uxbridge Road Wells Place London W12 8AA Merstham RH1 3LG www.bpp.com/learningmedia Y our learning by by BPPfrom Learning Media Ltd, arematerials, pr inted onpublished printed paper obtained traceable sustainable sources  ©  BPP Learning Learning Media Media Ltd 2015   Preface Contents Welcome to BPP Learning Media Media's 's new new FIA FFA/AC FFA/ACCA CA F3 Passcards Passcards  They save you time Important topics are summarised summarised for for you  They incorporate diagrams to kick start your memory  They follow the overall structure of BPP Learning Learning Media's Media's Interactiv Interactivee T Text exts, s, but BPP Learning Learning Media' Media'ss new Passcards are not just a condensed book Each card has been separately designed designed for clear presentation presentation Topics are self contained and can be grasped visually Passcards are still just the right size for pockets, briefcases and bags  Passcards focus on the exam you will be facing  Run through the complete set of Passcards as often as you can during your final revision revision period The day before the exam, try to go through the Passcards again.You will then be well on your way to completing your exam successfully Good luck! Page iii   Preface Contents Page Introduction to accounting The regulatory framework Page 12 13 Irrecoverable debts and allowances Provisions and contingencies 67 71 The qu The qual alititat atiive ch char arac acte teri rist stic icss of fifina nanc ncia iall information 11 14 Control accounts 75 15 Bank reconciliations 81 S rim me enoturyrces, records and books of pri 19 Ledger accounts and double entry 25 Correction of errors Prep Pr epar arat atio ionn of fifina nanc ncia iall st stat atem emen ents ts for sole traders 85 16 17 From trial balance to financial statements 33 18 Incomplete records 93 19 Introduction to company accounting 101 20 Prepar Prep arat atio ionn of of fifina nanc ncia iall sta state tem men ents ts for companies 107 21 Event ntss af afte terr th thee re repo port rtin ingg pe peri riod od 1133 11 22 Statements of cash flows 117 Sales tax Inventory 41 45 Tangible non-current assets 51 10 Intangible non-current assets 59 11 Accruals and prepayments 63 91   Page 23 Introodu Intr duct ctio ionn to to conso sollid idat ated ed fifina nanc nciial statements 123 24 The co The conso sollid idat ated ed sta tate tem men entt of of fifina nanc ncia iall position 127 25 The co The conso sollid idat ated ed sta tate tem men entt of of pro profifitt or or loss lo ss an andd ot othe herr co comp mpre rehe hens nsiv ivee in inco come me 1333 13 Interpretation of financial statements 137 26 Page v   Notes   1: In Intr trod oduc ucti tion on to acc accou ount ntin ing g Topic List This chapter looks at why financial statements are  prepared, the different types of business entities and the  users of financial statements The purpose of financial reporting We also look at the main financial statements: the  statement of financial position and the statement of profit  Types of business entity Users Governance The main financial statements or loss   The purpose of financial reporting Types of business entity Users Governance The main financial statements The purpose of financial reporting A business has a number of functions, the most prominent is to make a profit for the owners Profit is the excess of income over expenditure Financial data Books of prime entry Ledger accounts Trial balance Financial statements   The purpose of financial reporting Types of business entity Users Governance The main financial statements Types of business entity Sole traders traders –Rrefers to ownership, ownership, sole traders traders can have employees Partnerships – Two or more people working working together to earn profits Personally responsible for debts of business Limited Limi ted liability liability company company – Owners Owners have have liability liability limited to the amount they pay for their shares – A limited liability liability comp company any has a separate legal identity from its owners Page 1: Introduction to accounting   Information required by users Profitability Liquidity Limitations of ratio analysis Gearing Current ratio Inventory turnover period Current ratio = Current assets Inventory Inv entory turnov turnover er period = 2:1 acceptable? 1.5:1? Depends on industry Higher the better? But remember: Current liabilities  Quick ratio Quick ratio (acid test) = Current assets – Inventory Current liabilities    Eliminates illiquid and subjectively valued inventory Could be high if overtrading with rec'bles, but no cash 1:1 OK? But supermarkets etc on 0.3 (no rec'bles) A/cs receivable collection period Trade receivables × 365 Credit sales Consistent with quick/current ratio? If not, investigate     Inventory × 365 Cost of sales Lead times Seasonal fluctuations in orders Alternative uses of warehouse space Bulk buying discounts Likelihoodd of inv Likelihoo inventory entory perishing or becoming obsolete A/cs payable payment period Trade accounts payable × 365 Purchases Use cost of sales if purchases not disclosed   Information required by users Profitability Liquidity Gearing Limitations of ratio analysis Debt ratio Debt ratio = Total debts Total assets % (> 50% = high) Gearing Total long term debt Gearing ratio = Shareholders' equity + Total % Total long ter term m debt Interest cover Interest cover =   Page 141 PBIT Interest payable Company must generate enough profit to cover interest Is 3+ safe? Consider relevance of profit vs cash 26: Interpretation of financial statements   Information required by users Profitability Liquidity Gearing Limitations of ratio analysis Limitations The limitations of ratio analysis are as follows: follows: Comparative information is not always available They sometimes use out of date information Interpretation requires thought and analysis Ratios should not be considered in isolatio isolationn The exercise is subjective, for example not all companies use the same accounting policies Ratios are not defined in standard form        Notes   Notes   Notes   Notes   Notes   Notes   Notes   Notes   Notes   Notes   Notes   Notes