ACCA Paper F 7 Financial Reporting F7FR(Int) Mock1 d08 Qs
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at the inception of the lease, the present value of the minimum lease payments is greater than, or equal to substantially all of the fair value of the leased asset.. the
Except for investments in equity instruments that do not have a quoted market price in an active market and whose fair value cannot be reliably measured, any financial asset
– deducted from the carrying amount of the asset in the statement of financial position (i.e. being recognised over the useful life of the asset by means of a
This will give an annual impairment of goodwill of $20,000 which will be charged as an expense in the current years statement of comprehensive income.. The previous
The lease term is six-years (because it is almost certain that Orlick will contract to lease the asset for the secondary period) which is equal to the useful life of
The reduction of closing inventory in the consolidated statement of comprehensive income would reduce the profit for the year and hence the accumulated profit/retained earnings
¾ The basic EPS calculation is made by dividing the profit (or loss) relating to the ordinary shareholders by the weighted average number of ordinary shares outstanding in the
To improve transparency and comparability, the Group’s financial reporting is based primarily on continuing operations, while assets held for sale and discontinued operations
