单选题The following two issues relate to Spiko Cos mining activities: Issue 1: Spiko Co began operating a new mine in January 20X3 under a five-year government licence which required Spiko Co to landscape the area after mining ceased at an estimated cost of $100,000

单选题When a gain on a bargain purchase (negative goodwill) arises, IFRS 3 Business Combinations requires an entity to first of all review the measurement of the assets, liabilities and consideration transferred in respect of the combination

单选题Which of the following statements about IAS 20 Accounting for Government Grants and Disclosure of Government Assistance are true? (i) A government grant related to the purchase of an asset must be deducted from the carrying amount of the assetin the statement of financial position (ii)A government grant related to the purchase of an asset should be recognised in profit or loss over the life of the asset (iii)Free marketing advice provided by a government department is excluded from the definition of government grants (iv)Any required repayment of a government grant received in an earlier reporting period is treated as prior period adjustment

单选题Tibetacquiredanewofficebuildingon1October2014.Itsinitialcarryingamountconsistedof:Theestimatedlivesofthebuildingstructureandairconditioningsystemare25yearsand10yearsrespectively.Whentheairconditioningsystemisdueforreplacement,itisestimatedthattheoldsystemwillbedismantledandsoldfor$500,000.Depreciationistimeapportionedwhereappropriate.AtwhatamountwilltheofficebuildingbeshowninTibet’sstatementoffinancialpositionasat31March2015?$’000

单选题Pactacquired80%oftheequitysharesofSacton1July2014,paying$3·00foreachshareacquired.Thisrepresentedapremiumof20%overthemarketpriceofSact’ssharesatthatdate.Sact’sshareholders’funds(equity)asat31March2015were:TheonlyfairvalueadjustmentrequiredtoSact’snetassetsonconsolidationwasa$20,000increaseinthevalueofitsland.Pact’spolicyistovaluenon-controllinginterestsatfairvalueatthedateofacquisition.ForthispurposethemarketpriceofSact’ssharesatthatdatecanbedeemedtoberepresentativeofthefairvalueofthesharesheldbythenon-controllinginterest.Whatwouldbethecarryingamountofthenon-controllinginterestofSactintheconsolidatedstatementoffinancialpositionofPactasat31March2015?

单选题The IASB’s Conceptual framework for financial reporting defines recognition as the process of incorporating in the financial statements an item which meets the definition of an element and satisfies certain criteria. Which of the following elements should be recognised in the financial statements of an entity in the mannerdescribed?

单选题Metricownsanitemofplantwhichhasacarryingamountof$248,000asat1April2014.Itisbeingdepreciatedat12?%perannumonareducingbalancebasis.Theplantisusedtomanufactureaspecificproductwhichhasbeensufferingaslowdeclineinsales.Metrichasestimatedthattheplantwillberetiredfromuseon31March2017.Theestimatednetcashflowsfromtheuseoftheplantandtheirpresentvaluesare:On1April2015,Metrichadanalternativeofferfromarivaltopurchasetheplantfor$200,000.AtwhatvalueshouldtheplantappearinMetric’sstatementoffinancialpositionasat31March2015?

单选题A company has decided to change its depreciation method to better reflect the pattern of use of its equipment

单选题Which of the following is NOT a duty of the IFRS Interpretations Committee?

单选题Which of the following will be treated as a subsidiary of Poulgo Co as at 31 December 20X7? (1) The acquisition of 60% of Zakron Cos equity share capital on 1 March 20X7

单选题Johnson paid $1·2 million for a 30% investment in Treem’s equity shares on 1 August 2014. Treem’s profit after tax for the year ended 31 March 2015 was $750,000. On 31 March 2015, Treem had $300,000goods in its inventory which it had bought from Johnson in March 2015. These had been sold by Johnson at a mark-up on cost of 20%. Treem has not paid any dividends. On the assumption that Treem is an associate of Johnson, what would be the carrying amount of the investmentin Treem in the consolidated statement of financial position of Johnson as at 31 March 2015?

单选题At 1 April 2014, Tilly owned a property with a carrying amount of $800,000 which had a remaining estimated life of 16 years. The property had not been revalued. On 1 October 2014, Tilly decided to sell the property and correctlyclassified it as being ‘held-for-sale’. A property agent reported that the property’s fair value less costs to sell at 1 October 2014 was expected to be $790,500 which had not changed at 31 March 2015. What should be the carrying amount of the property in Tilly’s statement of financial position as at 31 March2015?

案例分析题Gregory Co is a listed company and

案例分析题After preparing a draft statement of profit or loss (before interest and tax) for the year ended 31 March 20X6 (before any adjustments which may be required by notes (i) to (iv) below), the summarised trial balance of Triage Co as at 31 March 20X6 is: The following notes are relevant: (i) Triage Co issued 400,000 $100 6% convertible loan notes on 1 April 20X5. Interest is payable annually in arrears on 31 March each year. The loans can be converted to equity shares on the basis of 20 shares for each $100 loan note on 31 March 20X8 or redeemed at par for cash on the same date. An equivalent loan without the conversion rights would have required an interest rate of 8%. The present value of $1 receivable at the end of each year, based on discount rates of 6% and 8%, are: 6% 8% End of year 1 094 093 2 089 086 3 084 079 (ii) Non-current assets: The directors decided to revalue the leased property at $663m on 1 October 20X5. Triage Co does not make an annual transfer from the revaluation surplus to retained earnings to reflect the realisation of the revaluation gain; however, the revaluation will give rise to a deferred tax liability at the companys tax rate of 20%. The leased property is depreciated on a straight-line basis and plant and equipment at 15% per annum using the reducing balance method. No depreciation has yet been charged on any non-current assets for the year ended 31 March 20X6. (iii) In September 20X5, the directors of Triage Co discovered a fraud. In total, $700,000 which had been included as receivables in the above trial balance had been stolen by an employee. $450,000 of this related to the year ended 31 March 20X5, the rest to the current year. The directors are hopeful that 50% of the losses can be recovered from the companys insurers. (iv) A provision of $27m is required for current income tax on the profit of the year to 31 March 20X6. The balance on current tax in the trial balance is the under/over provision of tax for the previous year. In addition to the temporary differences relating to the information in note (ii), at 31 March 20X6, the carrying amounts of Triage Cos net assets are $12m more than their tax base. Required: (a) Prepare a schedule of adjustments required to the draft profit before interest and tax (in the above trial balance) to give the profit or loss of Triage Co for the year ended 31 March 20X6 as a result of the information in notes (i) to (iv) above. (b) Prepare the statement of financial position of Triage Co as at 31 March 20X6. (c) The issue of convertible loan notes can potentially dilute the basic earnings per share (EPS). Calculate the diluted earnings per share for Triage Co for the year ended 31 March 20X6 (there is no need to calculate the basic EPS). Note: A statement of changes in equity and the notes to the statement of financial position are not required. The following mark allocation is provided as guidance for this question: (a) 5 marks (b) 12 marks (c) 3 marks