Questions from Financial Accounting

Q: What is the difference between an interim dividend and a final dividend

What is the difference between an interim dividend and a final dividend?

Q: What is the auditors’ report? How useful do you think this

What is the auditors’ report? How useful do you think this is in its present form and with its current legal standing in the UK?

Q: Describe the contents of the statutory books of companies. What is

Describe the contents of the statutory books of companies. What is the purpose of each of these books?

Q: Explain the difference between the allotted share capital and called-up

Explain the difference between the allotted share capital and called-up share capital of companies.

Q: The following is a list of balances in the general ledger of

The following is a list of balances in the general ledger of R. Keith at 30 June 20X5: Required Prepare a trial balance.

Q: Explain with an example the difference between current liabilities, provisions and

Explain with an example the difference between current liabilities, provisions and contingent liabilities.

Q: Set out below is the equity part of a company’s statement of

Set out below is the equity part of a company’s statement of financial position. Explain the purpose of each of the equity reserve accounts shown on this company’...

Q: Explain the difference between revenue/distributable reserves and capital/non

Explain the difference between revenue/distributable reserves and capital/non-distributable reserves, giving three examples of the latter.

Q: Explain the difference between a reserve and a provision.

Explain the difference between a reserve and a provision.

Q: Briefly explain the reason(s) for the separate disclosure of

Briefly explain the reason(s) for the separate disclosure of components of financial performance such as discontinued operations and exceptional items in published company financial statements.