ATC INTERNATIONAL ACCA PAPER F7 FINANCIAL REPORTING REVISION QUESTION BANK (i) No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the author, editor or publisher This training material has been published and prepared by Accountancy Tuition Centre (International Holdings) Limited 16 Elmtree Road Teddington TW11 8ST United Kingdom Editorial material Copyright Accountancy Tuition Centre (International Holdings) Limited, 2008 All rights reserved No part of this training material may be translated, reprinted or reproduced or utilised in any form either in whole or in part or by any electronic, mechanical or other means, now known or hereafter invented, including photocopying and recording, or in any information storage and retrieval system, without permission in writing from the Accountancy Tuition Centre (International Holdings) Limited Acknowledgement Past ACCA examination questions are the copyright of the Association of Chartered Certified Accountants and have been reproduced by kind permission (ii) REVISION QUESTION BANK – FINANCIAL REPORTING (F7) CONTENTS Question Page Answer Marks Date worked 1001 25 1004 1006 1009 25 25 25 Fresno (ACCA J94) Deltoid (ACCA J02) Allgone (ACCA J03) Tintagel (ACCA J04) Chamberlain (ACCA D04) Harrington (ACCA J05) Petra (ACCA D05) Darius (ACCA J06) 10 12 13 16 18 1012 1013 1017 1020 1023 1025 1028 1030 10 25 25 25 22 25 25 25 Revenue recognition (ACCA D97) Derringdo (ACCA J03) 19 20 1032 1035 25 25 Hamilton (ACCA J98) 22 1038 15 Broadoak (ACCA D01) Derwent II (ACCA D04) Elite Leisure (ACCA D05) 23 24 25 1040 1044 1045 25 13 12 Shiplake (ACCA J02) Wilderness (ACCA D05) 26 27 1046 1049 25 25 Heywood (ACCA D99) Dexterity (ACCA J04) 29 31 1051 1055 25 22 Merryview II (ACCA J02) Linnet I (ACCA J04) Torrent (ACCA J06) 32 33 34 1057 1059 1061 15 13 12 IASB IASCF (ACCA D04) FRAMEWORK Substance over Form (ACCA J98) Atkins (ACCA D02) Peterlee (ACCA J06) PREPARATION OF FINANCIAL STATEMENTS 10 11 12 IAS 18 13 14 IAS 15 IAS 16 16 17 18 IAS 36 19 20 IAS 38 21 22 IAS 11 23 24 25 (iii) FINANCIAL REPORTING (F7) – REVISION QUESTION BANK CONTENTS Question Page Answer Marks Date worked Hooper (ACCA D98) 35 1062 10 Genpower (ACCA D00) Bodyline (ACCA D03) 36 37 1064 1067 25 17 38 40 41 1069 1071 1074 25 25 25 42 44 45 47 49 51 52 54 56 57 59 1076 1079 1082 1086 1081 1092 1095 1098 1100 1103 1106 25 25 25 13 25 25 25 25 25 25 25 61 63 65 1109 1111 1114 15 25 25 67 69 72 74 76 1118 1120 1124 1127 1130 25 25 25 25 25 78 79 1133 1134 13 13 IAS 12 26 IAS 37 27 28 COMPOSITE IAS QUESTIONS 29 30 31 Mrs Harper (ACCA D02) Bowtock (ACCA D03) Triangle (ACCA J05) GROUP ACCOUNTS 32 33 34 35 36 37 38 39 40 41 42 Hample (ACCA J99) Horsefield (ACCA J02) Trout Hydrate (ACCA D02) Hillusion (ACCA J03) Highmoor (ACCA D03) Hapsburg (ACCA J04) Holdrite (ACCA D04) Highveldt (ACCA J05) Hedra (ACCA D05) Hydan & Systan (ACCA J06) INTERPRETATION OF ACCOUNTS 43 44 45 Heywood bottlers (ACCA J97) Breadline (ACCA J02) Comparator (ACCA D03) CASH FLOW STATEMENTS 46 47 48 49 50 Planter (ACCA J04) Bigwood (ACCA D04) Casino (ACCA J05) Tabba (ACCA D05) Boston (ACCA J06) EARNINGS PER SHARE 51 52 (iv) Niagara (ACCA J03) Savoir (ACCA J06) REVISION QUESTION BANK – FINANCIAL REPORTING (F7) CONTENTS Question Page Answer 80 81 1135 1137 Marks Date worked CAPITAL CONCEPTS 53 54 Update (ACCA J03) Derwent I (ACCA D04) 12 12 PILOT PAPER Questions Answers Marking scheme (v) FINANCIAL REPORTING (F7) – REVISION QUESTION BANK (vi) ... 25 67 69 72 74 76 1118 1120 1124 11 27 1130 25 25 25 25 25 78 79 1133 1134 13 13 IAS 12 26 IAS 37 27 28 COMPOSITE IAS QUESTIONS 29 30 31 Mrs Harper (ACCA D02) Bowtock (ACCA D03) Triangle (ACCA. .. Torrent (ACCA J06) 32 33 34 10 57 1059 1061 15 13 12 IASB IASCF (ACCA D04) FRAMEWORK Substance over Form (ACCA J98) Atkins (ACCA D02) Peterlee (ACCA J06) PREPARATION OF FINANCIAL STATEMENTS 10 11... Bigwood (ACCA D04) Casino (ACCA J05) Tabba (ACCA D05) Boston (ACCA J06) EARNINGS PER SHARE 51 52 (iv) Niagara (ACCA J03) Savoir (ACCA J06) REVISION QUESTION BANK – FINANCIAL REPORTING (F7 ) CONTENTS