FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download ACCA Paper F7 Financial Reporting Complete Text FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download British library cataloguinginpublication data A catalogue record for this book is available from the British Library. Published by: Kaplan Publishing UK Unit 2 The Business Centre Molly Millars Lane Wokingham Berkshire RG41 2QZ ISBN 9781784156794 © Kaplan Financial Limited, 2016 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials. Printed and bound in Great Britain Acknowledgements We are grateful to the Association of Chartered Certified Accountants and the Chartered Institute of Management Accountants for permission to reproduce past examination questions. The answers have been prepared by Kaplan Publishing. 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 Kaplan Publishing. ii KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Contents Page Chapter Introduction to published accounts Chapter Tangible noncurrent assets 23 Chapter Intangible assets 63 Chapter Impairment of assets 79 Chapter Noncurrent assets held for sale and discontinued operations 99 Chapter A conceptual and regulatory framework 117 Chapter Conceptual framework: Measurement of items 145 Chapter Other standards 161 Chapter Leases 185 Chapter 10 Financial assets and financial liabilities 211 Chapter 11 Foreign currency 251 Chapter 12 Revenue 263 Chapter 13 Taxation 303 Chapter 14 Earnings per share 331 Chapter 15 IAS 37 and IAS 10 365 Chapter 16 Principles of consolidated financial statements 393 Chapter 17 Consolidated statement of financial position 407 Chapter 18 Consolidated statement of profit or loss 467 Chapter 19 Associates 501 Chapter 20 Group disposals 543 Chapter 21 Interpretation of financial statements 563 Chapter 22 Statement of cash flows 631 Chapter 23 Appendix 1: Published financial statements 689 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download iii FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Chapter 24 iv Appendix 2: Objective case questions 725 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Intro Paper Introduction FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download v FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download How to Use the Materials These Kaplan Publishing learning materials have been carefully designed to make your learning experience as easy as possible and to give you the best chances of success in your examinations. 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KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download vii FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Online subscribers Our online resources are designed to increase the flexibility of your learning materials and provide you with immediate feedback on how your studies are progressing. If you are subscribed to our online resources you will find: (1) Online referenceware: reproduces your Complete or Essential Text on line, giving you anytime, anywhere access (2) Online testing: provides you with additional online objective testing so you can practice what you have learned further (3) Online performance management: immediate access to your online testing results. Review your performance by key topics and chart your achievement through the course relative to your peer group Ask your local customer services staff if you are not already a subscriber and wish to join. Paper background The aim of ACCA Paper F7, Financial Reporting, is to develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements. Syllabus Objectives of the syllabus viii • Discuss and apply a conceptual and regulatory framework for financial reporting • Account for transactions in accordance with International accounting standards • • Analyse and interpret financial statements Prepare and present financial statements for single entities and business combinations which conform with International Financial Reporting Standards KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Core areas of the syllabus • • • • • A conceptual framework for financial reporting A regulatory framework for financial reporting Financial statements Business combinations Analysing and interpreting financial statements Syllabus objectives and chapter references We have reproduced the ACCA’s syllabus from September 16 to June 17. Below shows where the objectives are explored within this book. Within the chapters, we have broken down the extensive information found in the syllabus into easily digestible and relevant sections, called Content Objectives. These correspond to the objectives at the beginning of each chapter. A A CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING The need for a conceptual framework (a) Describe what is meant by a conceptual framework of accounting [2] Ch (b) Discuss whether a conceptual framework is necessary and what an alternative system might be.[2] Ch (c) Discuss what is meant by relevance and faithful representation and describe the qualities that enhance these characteristics.[2] Ch (d) Discuss whether faithful representation constitutes more than compliance with accounting standards.[1] Ch (e) Discuss what is meant by understandability and verifiability in relation to the provision of financial information.[2] Ch (f) Discuss the importance of comparability and timeliness to users of financial statements.[2] Ch (g) Discuss the principle of comparability in accounting for changes in accounting policies. [2] Ch 8 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download ix FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 2 Recognition and measurement (a) Define what is meant by ‘recognition’ in financial statements and discuss the recognition criteria.[2] Ch (b) Apply the recognition criteria to:[2] Ch 6 (i) assets and liabilities (ii) income and expenses (c) Explain the following measures and compute amounts using:[2] Ch 7 (i) historical cost (ii) fair value/current cost (iii) net realisable value (iv) present value of future cash flows (v) fair value (d) Discuss the advantages and disadvantages of the use of historical cost accounting.[2] Ch (e) Discuss whether the use of current value accounting overcomes the problems of historical cost accounting.[2] Ch (f) Describe the concept of financial and physical capital maintenance and how this affects the determination of profits.[1] Ch Regulatory framework (a) Explain why a regulatory framework is needed, including the advantages and disadvantages of IFRS over a national regulatory framework.[2] Ch (b) Explain why accounting standards on their own are not a complete regulatory framework.[2] Ch (c) Distinguish between a principles based and a rules based framework and discuss whether they can be complementary.[1] Ch (d) Describe the IASB’s standard setting process including revisions to and interpretations of standards.[2] Ch (e) Explain the relationship of national standard setters to the IASB in respect of the standard setting process.[2] Ch x KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements Workings: (W1) Cost of sales Purchases Opening inventory Closing inventory (W5) $ 20,000 8,000 (12,000) ––––––– 16,000 ––––––– (W2) Loan interest due (10% × $8,000) = $800 (SPL) Amount paid (TB) $400, therefore accrual required for $400 (W3) Income tax TB overprovision Current year estimate Increase in deferred tax provision (8,600 8,000) $ (500) 3,000 600 ––––––– 3,100 ––––––– (W4) PPE TB carrying amount Increase in valuation of land ($5,000 to $11,000) 710 $ 35,000 6,000 ––––––– 41,000 ––––––– KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 (W5) Inventory Closing inventory at cost Damaged inventory at cost Damaged inventory at NRV ($4,500 – $500) $ 16,000 (8,000) 4,000 ––––––– 12,000 ––––––– Inventory is valued at the lower of cost or NRV (W6) Dividends 0.10 × 16,000 shares ($8,000/0.50) = $1,600 declared before yearend, therefore provide. Test your understanding Marlon: Statement of profit or loss for the year ended 31 March 20X4 Revenue Cost of Sales (W1) Gross profit Distribution costs (5,060 + 2,763 depreciation) Administration expenses (6,020 + 700 irrecoverable debt expense) Redundancy costs Profit from operations Income from investments Finance cost (630 interest paid + 630 accrual) Profit before tax Income tax expense Profit for year KAPLAN PUBLISHING $ 154,900 (92,013) ––––––– 62,887 (7,823) (6,720) (12,000) ––––––– 36,344 1,200 (1,260) ––––––– 36,284 (15,000) ––––––– 21,284 ––––––– FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 711 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements Marlon Ltd: Statement of changes in equity for the year ended 31 March 20X4 Share Share Retained Preference capital premium earnings shares Total Balance at 1 April 20X3 $ 19,000 $ $ 0 Total comprehensive income Share issue 1,000 $ $ 23,345 10,000 52,345 21,284 21,284 1,500 500 Dividends (1,000 ord, 500 pref) (1,500) (1,500) –––––– –––––– –––––– –––––– –––––– Balance at 31 March 20X1 20,000 –––––– 500 –––––– 43,129 –––––– 10,000 –––––– 73,629 –––––– Share issue = 1,000 × $1.50 = $1,500. Of this, $1,000 goes to share capital with $500 shown in share premium. As the amount has been recorded in the trial balance already, the figures given are the closing balances. The increase in share capital and share premium is included within the SOCIE in order to calculate the opening balances. Marlon: Statement of financial position as at 31 March 20X4 Noncurrent assets Property, plant and equipment (W2) Current assets Inventories Trade receivables (29,850 – 600 allowance) Cash and cash equivalents (56,250 + 2,500 asset disposal) Total assets 712 $ 5,800 29,250 58,750 $ 32,079 93,800 ––––––– 125,879 ––––––– KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 Equity and liabilities Capital and reserves Share capital $1 Preference share capital Share premium Retained earnings Noncurrent liabilities 7% loan Current liabilities Trade payables Interest accrual Preference dividend accrual Income tax 20,000 10,000 500 43,129 ––––––– 18,000 ––––––– 18,120 630 500 15,000 ––––––– 73,629 18,000 34,250 ––––––– 125,879 ––––––– Workings: (W1) Cost of sales Purchases Opening inventory Closing inventory Depreciation on plant Profit on disposal of plant (W3) KAPLAN PUBLISHING $ 84,000 6,850 (5,800) 7,063 (100) ––––––– 92,013 ––––––– FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 713 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements (W2) Property, Plant and Equipment Cost b/f Disposals At 31 March 20X4 Accumulated depreciation: At 1 April 20X3 Disposals Charge for year At 31 March 20X4 Carrying amount: At 31 March 20X4 Plant Vehicles $ $ 40,315 13,720 (5,000) – ––––––– ––––––– 35,315 13,720 ––––––– ––––––– 7,060 2,670 (2,600) – 7,063 2,763 ––––––– ––––––– 11,523 5,433 ––––––– ––––––– ––––––– ––––––– 23,792 8,287 ––––––– ––––––– Total $ 54,035 (5,000) ––––––– 49,035 ––––––– 9,730 (2,600) 9,826 ––––––– 16,956 ––––––– ––––––– 32,079 ––––––– Depreciation for plant = $35,315 × 20% = $7,063 (taken to cost of sales) Depreciation for vehicles = (13,720 – 2,670) × 25% = $2,763 (taken to distribution costs) (W3) Disposal of asset Asset has been sold for $2,500. This needs to be added to cash, with the carrying value of $2,400 removed from P,P,E (see (W2)) and the gain of $100 taken to cost of sales (W1). (W4) Accruals The loan carries 7% interest. 7% × $18,000 = $1,260. As only $630 has been paid, $630 needs to be accrued (Dr Finance costs, Cr accruals). The preference dividend is 5% × $10,000 = $500. This must also be accrued (Dr Retained earnings, Cr accruals) 714 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 Test your understanding Arthur: Statement of profit or loss and other comprehensive income for the year ended 31 December 20X3 Revenue Cost of Sales (W1) Gross profit Distribution costs Administration expenses Profit from operations Income from investments Finance cost (3,500 (W4) + 1,877 (W8)) Profit before tax Income tax expense (W3) Profit for year Other comprehensive income Revaluation gain Total comprehensive income KAPLAN PUBLISHING $ 246,500 (104,075) –––––––– 142,425 (51,000) (34,000) –––––––– 57,425 2,000 (5,377) –––––––– 54,048 (10,100) –––––––– 43,948 –––––––– 63,000 –––––––– 106,948 –––––––– FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 715 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements Arthur Ltd: Statement of changes in equity for the year ended 31 December 20X3 Share Retained Revaluation capital earnings reserve Balance at 1 April 20X3 $ $ 200,000 163,750 Total comprehensive income Share issue $ 43,948 Total $ 363,750 63,000 106,948 0 (9,500) ––––––– ––––––– ––––––– ––––––– Balance at 31 March 20X1 220,000 178,198 63,000 461,198 ––––––– ––––––– ––––––– ––––––– 20,000 (20,000) Dividends (9,500) The bonus of issue of 1:10 means that 20,000 new shares have been issued for free (10% of 200,000 shares). Usually this would be debited to share premium. However, as no share premium exists, this must be debited to retained earnings instead. Arthur: Statement of financial position as at 31 December 20X3 Noncurrent assets Property, plant and equipment (435,000 (W2) + 24,000 (W8)) Intangible assets (W5) Current assets Inventories (W6) Trade receivables Cash and cash equivalents Asset held for sale (W7) Total assets 716 $ 459,000 19,800 39,700 48,000 12,500 $ 478,800 100,200 1,425 ––––––– 580,425 ––––––– KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 Equity and liabilities Capital and reserves Share capital $1 Revaluation reserve Retained earnings Noncurrent liabilities 7% loan Finance lease (W8) Deferred tax liability Current liabilities Trade payables Finance lease (W8) Interest accrual (W4) Income tax 220,000 63,000 178,198 ––––––– 50,000 19,877 9,600 ––––––– 17,000 5,000 1,750 16,000 ––––––– 461,198 79,477 39,750 ––––––– 580,425 ––––––– Workings: (W1) Cost of sales Purchases Opening inventory Closing inventory Impairment (W7) Depreciation – buildings (W2) Depreciation – plant (W2) Depreciation – lease (W8) Amortisation (W5) Research KAPLAN PUBLISHING $ 78,500 35,500 (39,700) 575 6,000 15,000 4,000 200 4,000 ––––––– 104,075 ––––––– FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 717 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements (W2) Property, Plant and Equipment Cost b/f Held for sale Revaluation Cost c/f Accumulated depreciation: Balance b/f Revaluation Held for sale Charge for year At 31 December 20X3 Carrying amount: At 31 December 20X3 Land & buildings $ 403,000 (3,000) ––––––– 400,000 ––––––– 60,000 (66,000) 6,000 ––––––– 0 ––––––– ––––––– 400,000 ––––––– Plant $ 96,000 (8,000) ––––––– 88,000 ––––––– 44,000 – (6,000) 15,000 ––––––– 53,000 ––––––– ––––––– 35,000 ––––––– Total $ 499,000 (8,000) (3,000) ––––––– 488,000 ––––––– 104,000 (66,000) (6,000) 21,000 ––––––– 53,000 ––––––– ––––––– 435,000 ––––––– Depreciation for buildings = $403,000 – $163,000 land = $240,000/40 years = $6,000 Note: The revaluation takes place at the end of the year and therefore depreciation is calculated on the cost before revaluation. Depreciation for plant = (88,000 cost c/f – 38,000 acc depreciation (b/f depreciation less held for sale asset depreciation)) × 30% = $15,000 (W3) Income tax expense Current year estimate Decrease in deferred tax provision (9,600 – 15,500) $ 16,000 (5,900) ––––––– 10,100 ––––––– The year end estimate of $16,000 is held in current liabilities The year end deferred tax liability is $9,600 ($32,000 × 30%). This is held in noncurrent liabilities, with the decrease in liability from the prior year taken to the tax expense as above. 718 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 (W4) Finance costs The loan carries 7% interest. 7% × $50,000 = $3,500. As only $1,750 has been paid, $1,750 needs to be accrued (Dr Finance costs, Cr accruals). (W5) Intangibles Of the $24,000 in the trial balance, the $4,000 research should be taken to the SPorL as an expense (taken to COS). The remaining $20,000 is capitalised as a noncurrent asset. Amortisation on this begins on 30 September, so there has been 3 months amortisation by the year end. Amortisation is therefore $200 ($20,000 × 4% × 3/12). The amortisation of $200 is taken to cost of sales, and the carrying amount of intangibles in the SOFP is $19,800. (W6) Inventory The inventory is in at a total cost of $40,000. Of this amount, some items need to be adjusted. The item costing $1,500 has a NRV of $1,200, and therefore a writeoff of $300 is required. This makes closing inventory $39,700 (Dr Inventory, Cr COS) (W7) Held for sale The asset must be removed from Property, Plant & Equipment (see (W2)), and then is held under current assets at the lower of carrying amount and fair value less costs to sell. The asset has a carrying value of $2,000, but the fair value less costs to sell = $1,500 less 5% commission = $1,425. The asset should be held at $1,425, with a $575 impairment being shown in cost of sales. (W8) Lease The lease asset should initially be included at $28,000. This should be depreciated over 7 years, giving a depreciation charge of $4,000 (included in cost of sales) and a carrying amount of $24,000 included within P,P,E. KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 719 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements The liability is then shown as follows: Year b/f Payment 20X3 28,000 (5,000) 20X4 24,877 (5,000) Subtotal 23,000 19,877 Interest 8.16% 1,877 1,622 c/f 24,877 21,499 From this, the interest of 1,877 is taken to finance costs. The year end liability of $24,877 is split between noncurrent and current, with $19,877 shown as a noncurrent liability and $5,000 being held within current liabilities. Test your understanding Thistle Ltd: Statement of financial position as at 30 June 20X1 Noncurrent assets Property, plant and equipment (W1) Investments (W6) Current assets Inventories Trade receivables Cash and cash equivalents (W9) Total assets Equity and liabilities Capital and reserves Share capital Share premium Retained earnings Revaluation surplus Noncurrent liabilities 10% Loan (80,000 + 1,600 (W3)) Deferred tax (8,400 300 (W7)) $ $ 1,449,800 20,200 –––––––– 1,470,000 62,200 72,470 229,360 –––––––– 364,030 –––––––– 1,834,030 –––––––– 500,000 100,000 655,650 400,000 –––––––– 81,600 8,100 –––––––– 1,655,650 89,700 720 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 Current liabilities Trade payables Loan interest owing (W3) Income tax 62,180 8,000 18,500 –––––––– Total equity and liabilities 88,680 –––––––– 1,834,030 –––––––– Thistle Ltd: Statement of changes in equity for the year ended 30 June 20X1 Share Share Revaluation capital premium surplus $ $ $ Balance at une 20X0 450,000 60,000 300,000 Total comprehensive income (W8) 100,000 Issue of share capital (W2) 50,000 40,000 –––––––– –––––––– –––––––– Balance at 30 June 20X1 500,000 100,000 400,000 –––––––– –––––––– –––––––– Retained earnings Total $ $ 540,000 1,350,000 115,650 215,650 – 90,000 –––––––– –––––––– 655,650 1,655,650 –––––––– –––––––– Workings: (W1) Property, plant and equipment Cost/Valuation At 1 July 20X0 Revaluation Disposals At 30 June 20X1 KAPLAN PUBLISHING Land and buildings $ 1,400,000 100,000 –––––––– 1,500,000 –––––––– Motor vehicles Total $ $ 67,500 1,487,300 100,000 (24,000) (24,000) –––––––– –––––––– 43,500 1,543,500 –––––––– –––––––– FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 721 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements Accumulated depreciation: At 1 July 20X0 Charged during the year (W7) Disposals At 30 June 20X1 Carrying amount: At 30 June 20X1 58,000 14,000 –––––––– 72,000 –––––––– 1,428,000 –––––––– 30,250 88,250 5,450 19,450 (14,000) (14,000) –––––––– –––––––– 21,700 93,700 –––––––– –––––––– 21,800 1,449,800 –––––––– –––––––– (W2) Share issue No. Number of issued shares at 30 June 20X1 ($500,000/$0.50) Number Issued in the year Number of issued shares at 1 July 20X0 (Balance) 1,000,000 (100,000) –––––––– 900,000 –––––––– Total proceeds = 100,000 × $0.90 = $90,000 Nominal value = 100,000 × $0.50 = $50,000 (share capital account) Premium = 100,000 × $0.40 = $40,000 (share premium account) (W3) Loan interest The loan is a financial liability and should be held at amortised cost. The interest charged to the statement of profit or loss is $9,600 ($80,000 × 12%). Of this, the interest due for the year $8,000 ($80,000 × 10%) is payable 1 July 20X1, so should be held as a current liability. The remaining $1,600 should be added on to the value of the loan within noncurrent liabilities to take into account the premium on redemption of the loan. (W4) Gain on disposal Proceeds Carrying value (24,000 – 14,000) Profit on disposal 722 $ 12,000 10,000 ––––––– 2,000 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter 23 (W5) Depreciation Building 2% × $700,000 ($1,400,000 – land $700,000) = $14,000 Motor vehicles 20% × (cost $43,500 – depn ($30,250 – $14,000)) = 20% × $27,250 = $5,450 (W6) Investments The default position for equity investments is fair value through profit or loss (FVPL). As the value has increased by $400 in the year, this will be added to the investment value, with the $400 gain taken to profit for the year. (W7) Tax The tax estimate of $18,500 will be taken to profit for the year and held within current liabilities. The deferred tax liability has decreased by $300. This will decrease the liability and reduce the tax expense for the year. (W8) Profit for year Per TB Gain on disposal (W4) Depreciation (W5) – buildings – motor vehicles Income tax expense Reduction in deferred tax (W7) Finance cost (W3) Investment gain (W6) Profit for the year $ 160,500 2,000 (14,000) (5,450) (18,500) 300 (9,600) 400 –––––––– 115,650 –––––––– (W9) Cash and cash equivalents TB Proceeds from sale of NCAs Cash and cash equivalents KAPLAN PUBLISHING $ 217,360 12,000 –––––––– 229,360 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download 723 FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Appendix 1: Published financial statements 724 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download ... Download FREE ACCA STUDY MATERIALS & LSBF LECTURES from www.accalsbfvideos.com xxiv KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter FREE ACCA KAPLAN EXAM... 689 KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download iii FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Chapter 24 iv Appendix 2: Objective case questions 725 KAPLAN. .. KAPLAN PUBLISHING FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download chapter FREE ACCA KAPLAN EXAM KIT 2017-2018 Click for Download Intro Paper Introduction FREE ACCA KAPLAN EXAM KIT 2017-2018