9 Which of the following items must be disclosed in a company’s published financial statements (including notes)if material, according to IAS1 Presentation of financial statements?1 Finance costs.2 Staff costs.3 Depreciation and amortisation expense.4 Mov

题目

9 Which of the following items must be disclosed in a company’s published financial statements (including notes)

if material, according to IAS1 Presentation of financial statements?

1 Finance costs.

2 Staff costs.

3 Depreciation and amortisation expense.

4 Movements on share capital.

A 1 and 3 only

B 1, 2 and 4 only

C 2, 3 and 4 only

D All four items

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相似问题和答案

第1题：

16 Which of the following events between the balance sheet date and the date the financial statements are

authorised for issue must be adjusted in the financial statements?

1 Declaration of equity dividends.

2 Decline in market value of investments.

3 The announcement of changes in tax rates.

4 The announcement of a major restructuring.

A 1

A 1 only

B 2 and 4

C 3 only

D None of them

正确答案：D

第2题：

(iv) Tyre recently undertook a sales campaign whereby customers can obtain free car accessories, by presenting a

coupon, which has been included in an advertisement in a national newspaper, on the purchase of a vehicle.

The offer is valid for a limited time period from 1 January 2006 until 31 July 2006. The management are unsure

as to how to treat this offer in the financial statements for the year ended 31 May 2006.

(5 marks)

Required:

Advise the directors of Tyre on how to treat the above items in the financial statements for the year ended

31 May 2006.

(The mark allocation is shown against each of the above items)

正确答案：
(iv) Car accessories
An obligation should not be recognised for the coupons and no provision created under IAS37 ‘Provisions, Contingent
Liabilities and Contingent Assets’. A provision should only be recognised where there is an obligating event. There has to be
a present obligation (legal or constructive), the probability of an outflow of resources and the ability to make a reliable estimate
of the amount of the obligation. These conditions do not seem to have been met. Until the vehicle is purchased the
accessories cannot be obtained. That is the point at which the present obligation arises, the outflow of resources occurs and
an estimate of the amount of the obligation can be made. When the car is purchased, the accessories become part of the
cost of the sale. The revenue recognised will be the amount received from the customer (the sales price). The revenue will
not be grossed up to include the value of the accessories.

第3题：

John, CPA, is auditing the financial statements of Company A for the year ended December 31, 20×8. The un-audited information of selected financial statements items is as follows:

（Expressed in RMB thousands）

FINANCLAL STATEMENTS ITEMS

20×8

20×7

Sales

64000

48000

Cost of sales

54000

42000

Net profit

-20

December 31, 20×8

December 31, 20×7

Inventory

16000

12000

Current assets

60000

50000

Total assets

100000

90000

Current liabilities

20000

18000

Total liabilities

30000

25000

During the audit, John has the following findings:

(1)On December 31, 20×8,Company A discounted an undue commercial acceptance bill (with recourse) amounted to RMB 6000000, and was charged discounting interest of RMB 180000 by the bank. Company A made an accounting entry on December 31, 20×8 as follows:

Dr. Cash in Bank RMB 5820000

Dr. Financial Expenses RMB 180000

Cr. Notes Receivable RMB 6000000

(2)In June 20×8, Company A provided guarantee for Company B’s borrowings from Bank C. In December 20×8, since Company B failed to repay the borrowings in time, Company A was sued by Bank C to make relevant repayment amounted to RMB 3000000. As at December 31, 20×8, the lawsuit was still pending, and, based on the reasonable estimate of the guarantee losses made by the management, Company A made an accounting entry as follows:

Dr. Non-operating Expenses RMB 3000000

Cr. Provisions RMB 3000000

On January 10, 20×9,Company A received a judgment on repaying RMB 2500000

to Bank C to settle the guarantee obligation. Company A made the payment and an accounting entry at the end of January 2009 as follows:

Dr. Provisions RMB 3000000

Cr. Cash in Bank RMB 2500000

Cr. Non-operating Income RMB 500000

Required:

(1)For Revenue and Net Profit, explain which one is more appropriate to be used to calculate planning materiality for Company A’s 20×8 financial statements as a whole. Explain the reasons of that conclusion.

(2)Based on the un-audited in formation of selected financial statements items, for the purpose of using analytical procedures as risk assessment procedures, calculate the following ratios:

(a)Inventory Turnover Rate in 20×8;

(b)Gross Profit Ratio in 20×8;

(c)After Tax Return on Total Assets in 20×8; and

(d)Current Ratio as at December 31, 20×8

(3)For each audit finding identified during the audit, list the suggested adjusting entries that John should made for Company A’s 20×8 financial statements. Tax effects, if any, are ignored.

正确答案：

【中文翻译】注册会计师约翰负责审计A公司20×8年12月31日的财务报表。
以下是未经审计财务报表的部分信息：
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　（单位：千元）

项目	20×8	20×7
营业收入	64 000	48 000
营业成本	54 000	42 000
净利润	30	-20
	20×8年12月31日	20×7年12月31日
存货	16 000	12 000
流动资产	60 000	50 000
总资产	100 000	90 000
流动负债	20 000	18 000
总负债	30 000	25 000

在审计过程中，约翰发现以下事项：
（1）20×8年12月31日，A公司将未到期金额为人民币6 000 000元的商业承兑票据（附追索权）贴现，银行收取了人民币180 000元的贴现利息。A公司在20×8年12月31日做会计分录：
借：银行存款5 820 000
　　财务费用　180 000
　　贷：应收票据6 000 000
（2） 20×8年6月，A公司为B公司在C银行的贷款提供了担保。20×8年12月，由于B公司未能及时偿还贷款，A公司被银C行起诉，要求偿还贷款3 000 000元。20×8年12月31日官司尚未判决，根据管理层对担保损失的合理性估计，A公司做出以下会计分录：
借：营业外支出　　3 000 000
　　贷：预计负债　3 000 000
20×9年1月10日，A公司收到法院判决：A公司应赔偿C银行人民币 2 500 000元。A公司支付了这笔款项，并于20×9年1月末将做出如下会计分录：
借：预计负债　　3 000 000　
　　贷：银行存款　　2 500 000
　　　　营业外收入　　　500 000

要求：
（1）在营业收入和净利润两者之中，选择一个用于计算A公司20×8年财务报表层次的计划重要性水平，两者中哪一个更合适一些？并说明理由。
（2）根据以上未经审计的财务报表信息，运用分析程序分析重大错报风险，请计算以下比率：
（a）20×8年存货周转率
（b）20×8年销售毛利率
（c）20×8年总资产净利率
（d）20×8年12月31日的流动比率
（3）根据上述事项，注册会计师约翰应提出哪些审计调整建议，并列示调整分录。（调整分录不考虑所得税的影响）

【答案】
（1）应选择营业收入作为计算重要性水平的基础。
因为营业收入具有稳定性，净利润有亏转盈，不具有稳定性。

（2）存货周转率＝54 000/[（16000+12000）/2]＝3.86
销售毛利率＝（64000-54000）/64000×100％＝15.63％
总资产净利率＝30/[（100000+90000）/2]＝0.03％
流动比率＝60000/20000＝3
（3）
a.应建议做如下审计调整分录：
借：应收票据　6 000 000
　　贷：短期借款　5 820 000
　　　　财务费用　　180 000

b.应建议做如下审计调整分录：
借：预计负债　3 000 000
　　贷：营业外支出　500 000
　　　　其他应付款　2 500 000

第4题：

19 Which of the following statements about intangible assets in company financial statements are correct according

to international accounting standards?

1 Internally generated goodwill should not be capitalised.

2 Purchased goodwill should normally be amortised through the income statement.

3 Development expenditure must be capitalised if certain conditions are met.

A 1 and 3 only

B 1 and 2 only

C 2 and 3 only

D All three statements are correct

正确答案：A

第5题：

4 (a) Router, a public limited company operates in the entertainment industry. It recently agreed with a television

company to make a film which will be broadcast on the television company’s network. The fee agreed for the

film was $5 million with a further $100,000 to be paid every time the film is shown on the television company’s

channels. It is hoped that it will be shown on four occasions. The film was completed at a cost of $4 million and

delivered to the television company on 1 April 2007. The television company paid the fee of $5 million on

30 April 2007 but indicated that the film needed substantial editing before they were prepared to broadcast it,

the costs of which would be deducted from any future payments to Router. The directors of Router wish to

recognise the anticipated future income of $400,000 in the financial statements for the year ended 31 May

2007. (5 marks)

Required:

Discuss how the above items should be dealt with in the group financial statements of Router for the year ended

31 May 2007.

正确答案：
(a) Under IAS18 ‘Revenue’, revenue on a service contract is recognised when the outcome of the transaction can be measured
reliably. For revenue arising from the rendering of services, provided that all of the following criteria are met, revenue should
be recognised by reference to the stage of completion of the transaction at the balance sheet date (the percentage-ofcompletion
method) (IAS18 para 20):
(a) the amount of revenue can be measured reliably;
(b) it is probable that the economic benefits will flow to the seller;
(c) the stage of completion at the balance sheet date can be measured reliably; and
(d) the costs incurred, or to be incurred, in respect of the transaction can be measured reliably.
When the above criteria are not met, revenue arising from the rendering of services should be recognised only to the extent
of the expenses recognised that are recoverable. Because the only revenue which can be measured reliably is the fee for
making the film ($5 million), this should therefore be recognised as revenue in the year to 31 May 2007 and matched against
the cost of the film of $4 million. Only when the television company shows the film should any further amounts of $100,000
be recognised as there is an outstanding ‘performance’ condition in the form. of the editing that needs to take place before the
television company will broadcast the film. The costs of the film should not be carried forward and matched against
anticipated future income unless they can be deemed to be an intangible asset under IAS 38 ‘Intangible Assets’. Additionally,
when assessing revenue to be recognised in future years, the costs of the editing and Router’s liability for these costs should
be assessed.

第6题：

22 Which of the following items may appear in a company’s statement of changes in equity, according to IAS 1 Presentation of financial statements?

1 Unrealised revaluation gains.

2 Dividends paid.

3 Proceeds of equity share issue.

4 Profit for the period.

A 2, 3 and 4 only

B 1, 3 and 4 only

C All four items

D 1, 2 and 4 only

正确答案：C

第7题：

(b) Describe with suitable calculations how the goodwill arising on the acquisition of Briars will be dealt with in

the group financial statements and how the loan to Briars should be treated in the financial statements of

Briars for the year ended 31 May 2006. (9 marks)

正确答案：

(b) IAS21 ‘The Effects of Changes in Foreign Exchange Rates’ requires goodwill arising on the acquisition of a foreign operation
and fair value adjustments to acquired assets and liabilities to be treated as belonging to the foreign operation. They should
be expressed in the functional currency of the foreign operation and translated at the closing rate at each balance sheet date.
Effectively goodwill is treated as a foreign currency asset which is retranslated at the closing rate. In this case the goodwillarising on the acquisition of Briars would be treated as follows:

At 31 May 2006, the goodwill will be retranslated at 2·5 euros to the dollar to give a figure of $4·4 million. Therefore this
will be the figure for goodwill in the balance sheet and an exchange loss of $1·4 million recorded in equity (translation
reserve). The impairment of goodwill will be expensed in profit or loss to the value of $1·2 million. (The closing rate has been
used to translate the impairment; however, there may be an argument for using the average rate.)
The loan to Briars will effectively be classed as a financial liability measured at amortised cost. It is the default category for
financial liabilities that do not meet the definition of financial liabilities at fair value through profit or loss. For most entities,
most financial liabilities will fall into this category. When a financial liability is recognised initially in the balance sheet, the
liability is measured at fair value. Fair value is the amount for which a liability can be settled, between knowledgeable, willing
parties in an arm’s length transaction. In other words, fair value is an actual or estimated transaction price on the reporting
date for a transaction taking place between unrelated parties that have adequate information about the asset or liability being
measured.
Since fair value is a market transaction price, on initial recognition fair value generally is assumed to equal the amount of
consideration paid or received for the financial asset or financial liability. Accordingly, IAS39 specifies that the best evidence
of the fair value of a financial instrument at initial recognition generally is the transaction price. However for longer-term
receivables or payables that do not pay interest or pay a below-market interest, IAS39 does require measurement initially at
the present value of the cash flows to be received or paid.
Thus in Briars financial statements the following entries will be made:

第8题：

Which of the following financial statements reports information as of a specific date? ()

A. income statement

B. statement of owner's equity

C. statement of cash flows

D. balance sheet

参考答案：D

第9题：

5 An enterprise has made a material change to an accounting policy in preparing its current financial statements.

Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates

and errors in these financial statements?

1 The reasons for the change.

2 The amount of the consequent adjustment in the current period and in comparative information for prior periods.

3 An estimate of the effect of the change on future periods, where possible.

A 1 and 2 only

B 1 and 3 only

C 2 and 3 only

D All three items

正确答案：A

第10题：

22 Which of the following statements about limited liability companies’ accounting is/are correct?

1 A revaluation reserve arises when a non-current asset is sold at a profit.

2 The authorised share capital of a company is the maximum nominal value of shares and loan notes the company

may issue.

3 The notes to the financial statements must contain details of all adjusting events as defined in IAS10 Events after

the balance sheet date.

A All three statements

B 1 and 2 only

C 2 and 3 only

D None of the statements

正确答案：D

9 Which of the following items must be disclosed in a company’s published financial statements (including notes)if material, according to IAS1 Presentation of financial statements?1 Finance costs.2 Staff costs.3 Depreciation and amortisation expense.4 Mov

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