F7 Question 1

Statement of Financial Position

Pilot

7-Dec 8-Jun 8-Dec 9-Jun 9-Dec 10-Jun

Pumice

Plateau

yes

yes

Statement of Income

yes

Associate

yes

Mid-year acquisition

yes

Share for share exchange

Cash consideration

Patronic

yes

yes
yes

Pedantic

Pacemaker

Pandar

Picant

yes

yes

part

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

Deferred consideration

yes

yes

yes

NCI - proportionate
NCI goodwill given

yes

NCI value of investment given

yes

NCI value of investment is share price

Fair value adjusment - up

yes

Fair value adjustment - down

yes

yes

yes

yes

yes

yes

yes

"New" asset / liability

yes

Intra-group sales
Pups H to S

yes

yes

yes
yes

yes

Pups S to H

yes

Pup on TNCA transfer

yes

Impairment of goodwill

yes

Impairment of investment in Associate

yes

yes

yes

yes
yes

yes

yes

yes

yes

yes

yes
yes

Intra-group debts to reconcile

cash

goods

Intra-group debts - no reconciliation

Loan note cancellation
AHFS revaluation

yes
yes

yes

Dividends
5 marks chat

yes
yes

yes

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yes

F7 Question 1

10-Dec 11-Jun 11-Dec 12-Jun 12-Dec 13-Jun

Premier

Prodigal

Paladin

Pyramid

Statement of Financial Position

yes

eq section

yes

yes

Statement of Income

yes

yes

Associate
Mid-year acquisition

yes

yes

Share for share exchange

yes

yes

Viagem

Paradigm
yes

yes
yes

yes

yes

yes

assoc

yes

yes

yes

yes

yes

Cash consideration

yes

yes

Deferred consideration

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

NCI - proportionate
NCI goodwill given
NCI value of investment given
NCI value of investment is share price

yes

yes

Fair value adjusment - up

Fair value adjustment - down

yes

yes

"New" asset / liability

Intra-group sales

yes
yes

yes

Pups H to S

yes

Pups S to H

yes

yes

yes

yes

yes

yes

yes

yes

Pup on TNCA transfer

yes

Impairment of goodwill

yes

Impairment of investment in Associate

yes

Intra-group debts to reconcile

Intra-group debts - no reconciliation

cash+goods
yes

yes

Loan note cancellation

AHFS revaluation

cash

yes
yes

Dividends
5 marks chat

4 marks

4 marks

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5 marks

F7 Question 2

Pilot

7-Dec 8-Jun 8-Dec 9-Jun 9-Dec 10-Jun 10-Dec

Kala

Llama

Dexon

Candel

Pricewell

Sandown

Dune

Cavern

Statement of Financial Position

yes

yes

yes

yes

yes

yes

yes

yes

Statement of Income

yes

yes

yes

yes

yes

yes

yes

yes

Statement of Changes in Equity

yes

yes

yes

yes

yes

Earnings per share

yes

Trial balance

yes

List of balances
Draft accounts

yes

Revenue recognition

yes

Inventory adjustment

yes

TNCA investment property revaluation

yes

yes

yes

yes

yes

yes

yes

yes
yes

TNCA revaluation

yes

yes

yes

yes
yes

yes

yes

yes
yes

TNCA disposal

yes

yes

TNCA reclassified as AHFS

TNCA acquisition not recorded / own
build

yes

TNCA depreciation straight line

yes

yes

yes

yes

yes

yes

yes

yes

TNCA depreciation reducing balance

yes

yes

yes

yes

yes

yes

yes

yes

TNCA finance lease

yes

yes
yes

TNCA impairment
yes

INCA impairment
Financial asset through P&L
revaluation

yes

Loan note interest calculation /

adjustment

yes

yes

Tax provision

yes

yes

Deferred tax provision movement

yes

yes

Suspense account

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

yes

Prior year adjustment

yes

Dividend

yes

yes

Development expenditure

yes

Provisions and contingencies

yes

Construction contracts

yes

yes

yes
yes

Factored debt

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yes

F7 Question 2

11-Jun 11-Dec 12-Jun 12-Dec 13-Jun

Highwood

Keystone

Fresco

Quincy

Atlas

Statement of Financial Position

yes

yes

yes

yes

yes

Statement of Income

yes

yes

yes

yes

yes

Statement of Changes in Equity

yes

yes

yes

yes

yes

Earnings per share

yes

Trial balance
yes

List of balances

yes

yes

yes

yes

Draft accounts
yes

Revenue recognition
Inventory adjustment

yes

yes

TNCA revaluation

yes

yes

yes
yes

yes

yes

TNCA investment property revaluation

TNCA disposal
yes

TNCA reclassified as AHFS

TNCA acquisition not recorded / own
build

yes

TNCA depreciation straight line

yes

TNCA depreciation reducing balance

yes

yes

yes

yes

yes

yes

yes

yes

yes

TNCA finance lease

TNCA impairment

yes

INCA impairment
Financial asset through P&L
revaluation

yes

Loan note interest calculation /

adjustment

yes

Tax provision

yes

Deferred tax provision movement

yes

NO!

yes

NO!

yes

yes

yes

yes

yes

yes

yes

yes

Suspense account

yes

Prior year adjustment

yes
yes

Dividend

yes

yes

Development expenditure
yes

Provisions and contingencies

Construction contracts
Factored debt

yes

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F7 Question 3

Pilot

7-Dec 8-Jun 8-Dec 9-Jun 9-Dec 10-Jun 10-Dec

Pinto

Victular

Reactive

Harbin

Ratio calculations

10

12

Analysis of financial performance

yes

yes

yes

Analysis of financial position

yes

yes

yes

Cash flow statement preparation

yes

Comment on cash flow management

yes

Calculate adjusted profit margin and others

yes

5 mark chat

F7 Question 4

Pilot

Framework

yes

relevant

yes

reliable

yes

comparable

yes

Coaltown Crosswire

Deltoid

Hardy

explain

10
yes

yes
yes

part

yes

yes

yes

yes

yes

7-Dec 8-Jun 8-Dec 9-Jun 9-Dec 10-Jun 10-Dec

yes

yes

yes

yes

yes

yes
yes
yes

faithful representation
matching

yes

substance over form

yes

prudence

yes

materiality

yes

yes

yes

define liability

yes

define non-current asset

yes

accounting policies / estimates / errors

yes

subsequent events
leasing

yes

borrowing costs

yes

revaluations of ppe

yes

computations / calculations / treatment

yes

yes

yes

yes

yes

inventory

yes

provisions
predictive role of IFRS
diluted eps calculation
impairment
understandable
construction contract calculation
IFRS 5

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yes

yes

yes

F7 Question 3

11-Jun 11-Dec 12-Jun 12-Dec 13-Jun

Bengal

Ratio calculations
Analysis of financial performance

Mocha

Tangier

Quartile

Monty

yes

yes

yes

yes

Analysis of financial position

Cash flow statement preparation

yes

yes

yes

yes

Comment on cash flow management

Calculate adjusted profit margin and others
yes

5 mark chat

F7 Question 4

4 marks

11-Jun 11-Dec 12-Jun 12-Dec 13-Jun

yes

Framework
relevant
reliable

yes

comparable
faithful representation
matching
substance over form
prudence
materiality
define liability
define non-current asset

2 marks

accounting policies / estimates / errors

subsequent events
leasing
borrowing costs
revaluations of ppe
computations / calculations / treatment

yes

yes

inventory
yes

provisions
predictive role of IFRS

yes

diluted eps calculation

yes
yes

impairment
understandable

yes

construction contract calculation

yes

IFRS 5

yes

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F7 Question 5

Pilot

construction contracts

yes

development expenditure

7-Dec 8-Jun 8-Dec 9-Jun 9-Dec 10-Jun 10-Dec

yes
yes

loan note
ppe costs, depreciation and improvements
complex aircraft depreciation

yes
yes

earnings per share

yes
yes

borrowing costs
provisions, closure of plant, disc ops
rules / principles standards, ads of IFRS
government grants
investment property

For latest course notes, free audio & video lectures, support and forums please visit

yes

F7 Question 5
construction contracts

11-Jun 11-Dec 12-Jun 12-Dec 13-Jun

yes

development expenditure
yes

loan note
ppe costs, depreciation and improvements
complex aircraft depreciation
earnings per share
borrowing costs

yes

provisions, closure of plant, disc ops

rules / principles standards, ads of IFRS
government grants
investment property

yes
yes
yes

For latest course notes, free audio & video lectures, support and forums please visit