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ACCA F7 UK/INT Key Examinable Areas for December 2011
The following items are applicable to both the UK and International variant unless
specified. Any variations for the UK exam variant are marked with a *.
Question 1
Consolidated statement of financial position* including an associate.
Possible adjustments to include:
deferred consideration/share exchange
net asset fair value adjustments
intra-group loan/current account
goodwill impairment**
impairment of the investment in the associate
PURP
* UK: Balance sheet
** UK: Amortisation and possibly impairment
Question 2
Preparation of financial statements from trial balance including a SOCIE*.
Possible adjustments to include:
revaluation
depreciation
financial liabilities (possibly redeemable preference shares or finance
lease)
provisions
revenue recognition
tax and deferred tax
prior period adjustment
* UK: Statement of the Movements in Share Capital and Reserves
Question 3
Possible mixed cash flow/interpretation question to include:
the preparation of a statement of cash flow (or part thereof)
calculation of ratios and a short interpretation exercise using the
statement of cash flow and ratio results.
Questions 4 and 5
Leases
Impairment
Non-current (fixed) assets
Intangible asset – possibly to include research & development
Government grants
Investment property
The following items are applicable to both the UK and International variant unless
specified. Any variations for the UK exam variant are marked with a *.
Question 1
Consolidated statement of financial position* including an associate.
Possible adjustments to include:
deferred consideration/share exchange
net asset fair value adjustments
intra-group loan/current account
goodwill impairment**
impairment of the investment in the associate
PURP
* UK: Balance sheet
** UK: Amortisation and possibly impairment
Question 2
Preparation of financial statements from trial balance including a SOCIE*.
Possible adjustments to include:
revaluation
depreciation
financial liabilities (possibly redeemable preference shares or finance
lease)
provisions
revenue recognition
tax and deferred tax
prior period adjustment
* UK: Statement of the Movements in Share Capital and Reserves
Question 3
Possible mixed cash flow/interpretation question to include:
the preparation of a statement of cash flow (or part thereof)
calculation of ratios and a short interpretation exercise using the
statement of cash flow and ratio results.
Questions 4 and 5
Leases
Impairment
Non-current (fixed) assets
Intangible asset – possibly to include research & development
Government grants
Investment property
