Questions from Financial Accounting

Q: Bastante plc has 40,000 equity shares in issue. They

Bastante plc has 40,000 equity shares in issue. They are currently trading at £3.00 each. Bastante plc also has 400 debentures, trading at par. Required a. Calculate the gearing ratio for Bastante pl...

Q: Dale is in business as a sole trader. You are presented

Dale is in business as a sole trader. You are presented with the following summarized information relating to his business for the year to 31 October 20X9: Required a. Based on the above information...

Q: Nesales plc, a large food manufacturer, has purchased the brand

Nesales plc, a large food manufacturer, has purchased the brand name of a chocolate bar from one of its competitors for £5 million. It proposes to include this on its statement of financial position a...

Q: Outline the differences between sole traders and companies.

Outline the differences between sole traders and companies.

Q: Describe the standard setting process for International Financial Reporting Standards (IFRSs

Describe the standard setting process for International Financial Reporting Standards (IFRSs).

Q: Describe the accounting treatment for measuring the value of inventories under IAS

Describe the accounting treatment for measuring the value of inventories under IAS 2 – Inventories.

Q: Describe the rules relating to the recognition of revenue set out in

Describe the rules relating to the recognition of revenue set out in IFRS 15 – Revenue from Contracts with Customers.

Q: State the two measurement methods recommended by IAS 16 – Property,

State the two measurement methods recommended by IAS 16 – Property, Plant and Equipment for recording the value of tangible non-current assets.

Q: Discuss the current activities of the International Accounting Standards Board (IASB

Discuss the current activities of the International Accounting Standards Board (IASB) in the convergence/harmonization of accounting standards.

Q: Explain the role of the IFRS Interpretations Committee.

Explain the role of the IFRS Interpretations Committee.