ACCA | Kaplan – Exam Tips for Paper F7 – Financial Reporting June 2009

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June 2009 Kaplan's Exam tips for ACCA exam course paper F7 - Financial Reporting.
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KAPLAN EXAM TIPS FOR ACCA F7

• Question 1
  
  Consolidated SFP for either 2 or 3 company group Potential complications to include deferred consideration, share exchange and net asset fair value Adjustments, inter-co loan and PURP.
  
• Question 2
  
  Redraft statement of comprehensive income and statement of financial position - possible transactions to include depreciation, revaluation investment property, revenue recognition/substance, leases, financial liabilities, income tax.
  
• Question 3
  
  Possible mixed interpretation question to include calculation of a basic statement of cash flow and a report to include calculation of ratios and interpretation of the accounts using the statement of cash flow and ratio results.
  
• Question 4 and 5
  
  Construction contracts, IASB Framework (elements or qualitative characteristics),
  Impairment, Events after the reporting date or EPS.
  

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