Acca financial reporting - Study guides, Class notes & Summaries

ACCA Financial Reporting 2019 (F7) Exam Study Guide Solutions Income - ANSWERIncome is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants. Expenses - ANSWERExpenses are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabiliti...

ACCA Financial Accounting - chapter 1: Introduction to financial reporting Complete Exam Questions and Answers What does the financial account include ? ( 5 main documents ) - ANSWER-Statement of cash flows -Statement of changes in equity -Statement of financial position -Notes -Statement of profit and loss Which accounting bodies help reduce the differences in the way that companies draw up their financial statements in different countries ? - ANSWERThe international accounting standar...

ACCA Practice Test Questions with Correct Answers Accountability of Internal audit - ANSWER CC 1 access all parts of th organization 2auditor can freely comment the performance of managent 3should be actioned at th highest level to ensure its effectice implementation Absolution - ANSWER FC one set of ethic rules should fits in all cultures without exception Accounting - ANSWER CC 1the transactions: book of primary entry 2analysed and posted to ledger 3sum...

ACCA F3 Exam Questions and Answers All Correct Financial reporting - Answer-is a way of recording, analysing and summarising financial data. For-profit entities of whatever size or nature exist - Answer-to make a profit. Not-for-profit entities exist - Answer-for the achievement of specific objectives rather than to make a profit. Profit - Answer-is the excess of income over expenditure. When expenditure revenue, the business is running at a loss. A sole tradership - Answer-is a bu...

ICAEW BTF C10 Structure and regulation of the accountancy profession FRC (Financial Reporting Council) comprises: - correct answer the Conduct Committee + the Codes and Standards Committee Regulation of professions should NOT protect the profession's vested interests from competition in order to maintain public trust - correct answer True To appeal Disciplinary Committee decision - correct answer Appeal committee To appeal Investigation Committee decision - correct answer Discipli...

What structure for Ethical considerations? Tucker's 5 Questions What structure for deciding strategy on public sector projects Public Sector Portfolio Matrix ACCA - 5 Skills? Commercial Acumen -Judgement - Awareness Analysis -Investigate -Enquire -Consider Communication -Inform -Persuade -Clarify Evaluation -Assess -Estimate -Appraise Scepticim -Probe -Question -Challange What model for environmental? PESTEL 5 Forces National What model for competitiveness? ...

Chapter 03 International Convergence of Financial Reporting Multiple Choice Questions 1. According to Sir Bryan Carsberg, former IASC Secretary-General, what is the most significant cost of accounting diversity? A) The time expended by accountants to create multiple sets of financial statements conforming to different national standards B) The cost of the IASB to regulate compliance with many national accounting standards C) The reduction in effectiveness of the international m...

CPCE Study Guide 1945 Questions with Answers 2023 The Sensorimotor period is part of whose developmental stage theory? - CORRECT ANSWER Piaget Presenting stimuli in different sequences to reduce "order of presentation" influences in an experiment is called: - CORRECT ANSWER Counterbalancing The Eskimo word "piblokto" refers to "arctic hysteria," characterized by uncontrolled screaming and crying that is often accopanied by running through the snow naked. This is an example of wh...

ICAEW BTF C10 Structure and regulation of the accountancy profession Question and answers already passed 2024FRC (Financial Reporting Council) comprises: - correct answer the Conduct Committee + the Codes and Standards Committee Regulation of professions should NOT protect the profession's vested interests from competition in order to maintain public trust - correct answer True To appeal Disciplinary Committee decision - correct answer Appeal committee To appeal Investigation Commit...

Revision notes summarised for financial reporting F7 ACCA KAPLAN textbook notes, concise, contains all topics, enough to pass exam. all IFRS (standards) compiled in one document.