Tài liệu ACCA mới nhất từ BPP môn F3, sách có giá trị cho kỳ thi đến tháng 6-2014,study text. File PDF dạng Text cực đẹp.
I N T E R A C T I V E T E X T FFA BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for FIA and ACCA qualifications. In this, the only FFA/F3 study text to be reviewed by the examiner: We highlight the most important elements in the syllabus and the key skills you will need We signpost how each chapter links to the syllabus and the study guide We provide lots of exam focus points demonstrating what the examiner will want you to do We emphasise key points in regular fast forward summaries We test your knowledge of what you’ve studied in quick quizzes We examine your understanding in our exam question bank We reference all the important topics in our full index BPP’s Practice & Revision Kit, i-Pass and Interactive Passcard products also su pport this paper. FOR EXAMS FROM FEBRUARY 2013 TO JANUARY 2014 PAPER F3 FINANCIAL ACCOUNTING Note FIA FFA and ACCA Paper F3 are examined under the same syllabus and study guide. FFA/F3 FINANCIAL ACCOUNTING ii First edition March 2011 Second edition September 2012 ISBN 9781 4453 9966 9 Previous ISBN 9781 4453 7305 8 eISBN 9781 4453 9242 4 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Published by BPP Learning Media Ltd BPP House, Aldine Place 142-144 Uxbridge Road London W12 8AA www.bpp.com/learningmedia Printed in the United Kingdom by Printers Polestar Wheatons Hennock Road Marsh Barton Exeter EX2 8RP Your learning materials, published by BPP Learning Media Ltd, are printed on paper obtained from traceable sustainable sources. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media. We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions. The suggested solutions in the exam answer bank have been prepared by BPP Learning Media Ltd. © BPP Learning Media Ltd 2012 A note about copyright Dear Customer What does the little © mean and why does it matter? Your market-leading BPP books, course materials and e-learning materials do not write and update themselves. People write them on their own behalf or as employees of an organisation that invests in this activity. Copyright law protects their livelihoods. It does so by creating rights over the use of the content. Breach of copyright is a form of theft – as well as being a criminal offence in some jurisdictions, it is potentially a serious beach of professional ethics. With current technology, things might seem a bit hazy but, basically, without the express permission of BPP Learning Media: Photocopying our materials is a breach of copyright Scanning, ripcasting or conversion of our digital materials into different file formats, uploading them to facebook or e-mailing them to your friends is a breach of copyright You can, of course, sell your books, in the form in which you have bought them – once you have finished with them. (Is this fair to your fellow students? We update for a reason.) Please note the e-products are sold on a single user license basis: we do not supply 'unlock' codes to people who have bought them secondhand. And what about outside the UK? BPP Learning Media strives to make our materials available at prices students can afford by local printing arrangements, pricing policies and partnerships which are clearly listed on our website. A tiny minority ignore this and indulge in criminal activity by illegally photocopying our material or supporting organisations that do. If they act illegally and unethically in one area, can you really trust them? CONTENTS iii Contents Page Introduction Helping you to pass – the ONLY FFA/F3 study text reviewed by the examiner! v Chapter features . vi Studying FFA/F3 vii The Computer Based Examination . xx Tackling Multiple Choice Questions xxi Part A The context and purpose of financial reporting 1 Introduction to accounting . 3 2 The regulatory framework 19 Part B The qualitative characteristics of financial information 3 The qualitative characteristics of financial information . 31 Part C The use of double entry and accounting systems 4 Sources, records and books of prime entry . 47 5 Ledger accounts and double entry . 61 6 From trial balance to financial statements 89 Part D Recording transactions and events 7 Sales tax 107 8 Inventory . 117 9 Tangible non-current assets . 141 10 Intangible non-current assets 175 11 Accruals and prepayments . 187 12 Irrecoverable debts and allowances . 201 13 Provisions and contingencies 217 Part E Preparing a trial balance 14 Control accounts . 231 15 Bank reconciliations 253 16 Correction of errors . 265 17 Preparation of financial statements for sole traders . 281 Part F Preparing basic financial statements 18 Incomplete records 295 19 Introduction to company accounting 319 20 Preparation of financial statements for companies 337 21 Events after the reporting period . 365 22 Statements of cash flows . 371 Part G Preparing simple consolidated financial statements 23 Introduction to consolidated financial statements 391 24 The consolidated statement of financial position . 405 25 The consolidated statement of comprehensive income 431 Part H Interpretation of financial statements 26 Interpretation of financial statements . 447 Exam question bank . 475 Exam answer bank 499 Index . 509 Review form FFA/F3 FINANCIAL ACCOUNTING iv INTRODUCTION v Helping you to pass – the ONLY FFA/F3 study text reviewed by the examiner! BPP Learning Media – the sole Platinum Approved Learning Partner - content As ACCA’s sole Platinum Approved Learning Partner – content, BPP Learning Media gives you the unique opportunity to use examiner-reviewed study materials for exams from February 2013 to January 2014. By incorporating the examiner’s comments and suggestions regarding the depth and breadth of syllabus coverage, the BPP Learning Media Interactive Text provides excellent, ACCA-approved support for your studies. The PER alert! To become a Certified Accounting Technician or qualify as an ACCA member, you not only have to pass all your exams but also fulfil a practical experience requirement (PER). To help you to recognise areas of the syllabus that you might be able to apply in the workplace to achieve different performance objectives, we have introduced the ‘PER alert’ feature. You will find this feature throughout the Interactive Text to remind you that what you are learning in order to pass your FIA and ACCA exams is equally useful to the fulfilment of the PER requirement. Your achievement of the PER should be recorded in your online My Experience record. Tackling studying Studying can be a daunting prospect, particularly when you have lots of other commitments. The different features of the Text, the purposes of which are explained fully on the Chapter features page, will help you whilst studying and improve your chances of exam success. Developing exam awareness Our Texts are completely focused on helping you pass your exam. Our advice on Studying FFA/F3 outlines the content of the paper and the recommended approach to studying. Exam focus points are included within the chapters to highlight when and how specific topics might be examined. Using the Syllabus and Study Guide You can find the Syllabus and Study Guide on page ix of this Interactive Text. Testing what you can do Testing yourself helps you develop the skills you need to pass the exam and also confirms that you can recall what you have learnt. We include Questions – lots of them – both within chapters and in the Exam Question Bank, as well as Quick Quizzes at the end of each chapter to test your knowledge of the chapter content. FFA/F3 FINANCIAL ACCOUNTING vi Chapter features Each chapter contains a number of helpful features to guide you through each topic. Topic list Tells you what you will be studying in this chapter and the relevant section numbers, together with the ACCA syllabus references. Introduction Puts the chapter content in the context of the syllabus as a whole. Study Guide Links the chapter content with ACCA guidance. Fast Forward Summarises the content of main chapter headings, allowing you to preview and review each section easily. Key Term Definitions of important concepts that can often earn you easy marks in exams. Exam Focus Point Tell you how specific topics may be examined. Formula Formulae which have to be learnt. PER Alert This feature gives you a useful indication of syllabus areas that closely relate to performance objectives in your Practical Experience Requirement (PER). Question Gives you essential practice of techniques covered in the chapter. Chapter Roundup A full list of the Fast Forwards included in the chapter, providing an easy source of review. Quick Quiz A quick test of your knowledge of the main topics in the chapter. Exam Question Bank Found at the back of the Interactive Text with more exam- style chapter questions. Cross referenced for easy navigation. INTRODUCTION vii Studying FFA/F3 How to Use this Interactive Text Aim of this Interactive Text To pass the examination you need a thorough understanding in all areas covered by the syllabus and teaching guide. Recommended approach (a) To pass you need to be able to answer questions on everything specified by the syllabus and teaching guide. Read the Text very carefully and do not skip any of it. (b) Learning is an active process. Do all the questions as you work through the Text so you can be sure you really understand what you have read. (c) After you have covered the material in the Interactive Text, work through the Exam Question Bank, checking your answers carefully against the Exam Answer Bank. (d) Before you take the exam, check that you still remember the material using the following quick revision plan. (i) Read through the chapter topic list at the beginning of each chapter. Are there any gaps in your knowledge? If so, study the section again. (ii) Read and learn the key terms. (iii) Look at the exam focus points. These show the ways in which topics might be examined. (iv) Read the chapter roundups, which are a summary of the fast forwards in each chapter. (v) Do the quick quizzes again. If you know what you're doing, they shouldn't take long. This approach is only a suggestion. You or your college may well adapt it to suit your needs. Remember this is a practical course. (a) Try to relate the material to your experience in the workplace or any other work experience you may have had. (b) Try to make as many links as you can to other papers at the Introductory and Intermediate levels. What FFA/F3 is about Paper FFA/F3 aims to develop your knowledge and understanding of the underlying principles, concepts and regulations relating to financial accounting. You will need to demonstrate technical proficiency in the use of double entry techniques, including the preparation of basic financial statements for incorporated and unincorporated entities, as well as simple consolidated financial statements for group incorporated entities. You also need to be able to conduct a basic interpretation of financial statements. If you plan to progress through the ACCA qualification, the skills you learn at F3 will be built upon in papers F7 and P2. For practice and revision use BPP Learning Media’s Practice and Revision Kit, iPass and Passcards. To provide the knowledge and practice to help you succeed in the examination for Paper FFA/F3 Financial Accounting. FFA/F3 FINANCIAL ACCOUNTING viii Approach to examining the syllabus Paper FFA/F3 is a two-hour paper. It can be taken as a written paper or a computer based examination. The questions in the computer based examination are objective test questions – multiple choice, number entry and multiple response. (See page xx for frequently asked questions about computer based examinations.) The written examination is structured as follows: Number of marks 50 compulsory multiple choice questions of two marks each 100 INTRODUCTION ix Syllabus and Study guide [...]... January 2012 issue of ACCA Student Accountant magazine contains an article on CBEs Ensure that you are familiar with this article http://www.accaglobal.com/content/dam /acca/ global/PDF-students/2012s/sa_jan12_cbe.pdf For more information on computer-based exams, visit the ACCA website http://www.accaglobal.com/en/student/Exams/Computer-based-exams.html xx INTRODUCTION Tackling Multiple Choice Questions MCQ's... that it is identical The January 2012 issue of ACCA Student Accountant magazine contains an article on how to answer MCQs Ensure that you are familiar with this article http://www.accaglobal.com/content/dam /acca/ global/PDF-students/2012s/sa_jan12_mcq.pdf xxi FFA/F3 FINANCIAL ACCOUNTING xxii part The context and purpose of financial reporting 1 PART A: THE CONTEXT AND PURPOSE OF FINANCIAL REPORTING 2 C... displays the results at the end of the CBE Results are notified to ACCA within 72 hours CBE question types Multiple choice – choose one answer from four options Multiple response – select more than one response by clicking the appropriate tick boxes Multiple response matching – select a response to a number of related statements by choosing one option from a number of drop down menus Number entry... Result Notification showing their results before leaving the examination room The CBE Licensed Centre uploads the results to the ACCA (as proof of the candidate's performance) within 72 hours Candidates can check their exam status on the ACCA website by logging into myACCA Benefits Flexibility as a CBE can be sat at any time Resits can also be taken at any time and there is no restriction on... purpose of financial reporting 1 PART A: THE CONTEXT AND PURPOSE OF FINANCIAL REPORTING 2 C H A P T E R We will begin by looking at the aim of FFA /F3, as laid out in ACCA' s syllabus and Study Guide and discussed already in the introductory pages to this Text (if you haven't read through the introductory pages, do so now – the information in there is extremely important) Introduction to accounting 'Aim... Computer Based Examination Computer based examinations (CBEs) are available for the first seven FIA papers (not papers FAU, FTX or FFM) and ACCA papers F1, F2, and F3, in addition to the conventional paper based examination Computer based examinations must be taken at an ACCA CBE Licensed Centre How does CBE work? Questions are displayed on a monitor Candidates enter their answer directly onto the computer... are part of all FIA exams and ACCA papers F1, F2 and F3 They form the paper based exams and may appear in the CBE The MCQs in your exam contain four possible answers You have to choose the option that best answers the question The three incorrect options are called distracters There is a skill in answering MCQs quickly and correctly By practising MCQs you can develop this skill, giving you a better... would be most interested in this information 11 PART A: THE CONTEXT AND PURPOSE OF FINANCIAL REPORTING 5 Governance Those charged with governance of a company are responsible for the preparation of the financial statements EXAM FOCUS POINT The examiner reported that questions on governance were particularly badly answered in the 2011 assessment round Make sure you read this section carefully and be... debts of the business's owners (shareholders) are legally separate The shareholders cannot be sued for the debts of the business unless they have given some personal guarantee This is called limited liability 5 PART A: THE CONTEXT AND PURPOSE OF FINANCIAL REPORTING Partnerships are arrangements between individuals to carry on business in common with a view to profit A partnership, however, involves... separate entity from its owners Contracts can therefore be issued in the company’s name For accounting purposes, all three entities are treated as separate from their owners This is called the business entity concept 2.3 Sole traders This is the oldest and most straightforward structure for a business Sole traders are people who work for themselves Of course, it doesn't necessarily mean that the business . record. Tackling studying Studying can be a daunting prospect, particularly when you have lots of other commitments. The different features of the Text, the purposes. examined. Using the Syllabus and Study Guide You can find the Syllabus and Study Guide on page ix of this Interactive Text. Testing what you can do Testing