Sale of Shares. Using Mapitaccountancy. Step 1 Download free mind maps & print Step 2. Step 3 Log in & get ready to study the course
|
|
- Melissa Williams
- 5 years ago
- Views:
Transcription
1 Using Mapitaccountancy Sale of Shares Step 1 Download free mind maps & print Step 2 You need to create an account and verify your to do this Buy the course of your choice All courses cover entire syllabus with lots of illustrations & cost 50 Paypal will process credit/debit cards even if you don t have an account Step 3 Log in & get ready to study the course Print the workbook illustrations to use during lectures Step 4 View the videos & attempt the illustrations Have your printed mind maps and workbook with you when watching Watch the recap of the last lecture before you do the next Type Loss of Control Sale To NCI What? Treatment From Subsidiary to Investment or Associate or nothing From Sub to Sub Do Working Proceeds X Net Assets (Sub) (X) Goodwill (X) NCI X FV Residual Holding X Gain/(Loss) X/(X) Do Working DR CASH Received X CR NCI X (% Sold x (Net Assets + Goodwill) Difference to Equity Reserve X
2 Vertical Groups Step 1: Determine Control Look at group structure (NOT EFFECTIVE INTEREST!) Illustrations 1 & 2 in your workbook Step 2: Calculate Effective Interest in S1 Use this for all workings for S1 Step 3: Do Workings 2 x Equity Tables (W2) & 2 x Goodwill (W3) Step 4: Calculate Indirect Holding Adjustment NCI% in S x Investment by S in S1 DR NCI to Reduce CR Goodwill in S1 to reduce cost of investment
3 Vertical Groups Income Statement 70% 60% P S S1 $50m $25m Effective Interest in S1 Parent (70% x 60%) 42 NCI 58 Total 100 Indirect Holding Adjustment NCI% in S x Investment by S in S1...! 30% x $25m = $7.5m Step 1: Set out Group Structure Is goodwill working required? Step 2: Do workings for goodwill if required Net assets & goodwill computation Step 3: Go through rest of question note by note Set up a working for each one Step 4: NCI share of Profit & Other Comp. Income NCI% Profit given in Question X NCI % depreciation on FV adjustments (X) NCI% goodwill impairment (X) NCI % PURP if sub is seller (X) NCI% Any other affecting sub profit (X) X
4 Statement of Financial Position Step 1: Skim read question to gain understanding Do W1 for group structure June 2010 Q1: Ashanti Group Statement of Comprehensive Income Step 2: First few notes are consolidation workings Use these to do W2 - W5 for group Step 3: Rest of notes refer to parent Don t affect any working except W5 so don t total it yet! Step 4: Do working for each note you come to Adjust through W5 and on face of SFP Step 5: Prepare SFP & leave any notes you run out of time on Ensure you don t run over your time allocation
5 Purchase of Shares Type Step - Acquisition What? Treatment From Investment or Associate to Subsidiary Step 1: Revalue original investment to Fair Value (Gain or Loss to I/S) Step 2: Cost of Investment in Sub (W3) Cost of New Shares + FV Original Investment December 2011 Q1 - Traveler Statement of Financial Position Buy Out NCI From Sub to Sub Do Working CR CASH PAID OUT X DR NCI X (Based on Current Value of NCI) Difference to Equity Reserve X
6 Test Yourself! Mixed Groups December 2009 Q1 - Grange Statement of Financial Position Step 1: Determine Control Look at group structure (NOT EFFECTIVE INTEREST!) Step 2: Calculate Effective Interest in S1 Remember direct & indirect interest Use this for all workings for S1 Step 3: Do Workings 2 x Equity Tables (W2) & 2 x Goodwill (W3) Step 4: Calculate Indirect Holding Adjustment NCI% in S x Investment by S in S1 DR NCI to Reduce CR Goodwill in S1 to reduce cost of investment
7 Mixed Groups 70% 30% P S S1 $50m 25% $20m $30m Effective Interest in S1 Direct Interest 25 Indirect (70% x 30%) 21 Effective Interest 46 NCI 54 Total 100 Indirect Holding Adjustment NCI% in S x Investment by S in S1...! 30% x $30m = $9m Mixed Groups Illustration Red, Don & Tel Statement of Financial Position
8 Foreign Currency Groups W1: Do a detailed W1 checking dates etc. Look for any inter company loans P to S and calculate FX difference on translation at Y/E - take to (W2) W2: Do this in the foreign currency. Remember FX G/L in W1 to affect net assets at Y/E W3: Do this in foreign currency. Investment in Parent currency? Translate at acq. rate. When Goodwill calculated translate for SFP at Cl. rate. Do Working: $ Cost of Investment at closing rate X (Foreign amount invested translated to parent currency) Cost of Investment at acquisition rate rate (X) (Foreign amount invested translated to parent currency) FX Gain / (Loss) to W5 X/(X) W4: As usual translated at closing rate. June 11 Q1 - Rose, Petal & Stem Statement of Financial Position (Foreign Subsidiary) W5: As usual in parent currency - translate post-acq. profit at closing rate.
9 Group Cash-Flow Statements Group Cash-Flow Statements Working $ Opening Balance + Closing Balance - Items increasing opening Balance + Items decreasing opening Balance - Total 0 If Result of Working is a cash-flow... Positive Negative ASSET LIABILITY Cash Flow Statements INFLOW OUTFLOW OUTFLOW INFLOW PPE $m Opening Balance + Closing Balance - Disposals - Additions + Depreciation - Purchase Subsidiary + Sale of Subsidiary - Impairment - Revaluation (SOCIE) + Total 0 Investment Property $m Opening Balance + Closing Balance - Additions + Disposals - Gain on Fair Value + Loss on Fair Value - Total 0 Intangible Assets $ m Opening Balance + Closing Balance - Purchase of Subsidiary Sale of Subsidiary - Goodwill $m Opening Balance + Closing Balance - Disposal of Subsidiary Acquisition of Subsidiary + New Expenditure + Amortisation - Total 0 Impairment - Total Associate $m Opening Balance + Closing Balance - Acquisition of Associate + Profit for the Year + Dividend From Associate Total 0 Financial Assets $m Opening Balance + Closing Balance - Additions + Disposals - Gains on Financial Assets Impairment of Financial Assets - + Purchase of New Sub + Sale of Sub - Total 0 - Working Capital Opening Balance Closing Balance $m $m $m INV RE C PAY Sale of Sub Acquisition of Sub Total Share Capital $m Opening Balance + Closing Balance - Issue Shares + Total 0 NCI $m Opening Balance + Closing Balance - Acquisition of Sub + Sale of Sub - Buy out NCI - Sale to NCI + Profit to NCI in Year + Dividend Paid - Long Term Borrowings $m Opening Balance + Closing Balance - Repayments in Year - New Loans + Total 0 Tax $m Opening Balance on Tax due Opening Balance on Deferred Tax Closing Balance on Tax due Closing Balance on Deferred Tax Tax Charge in IS + Deferred Tax on Sale of Sub Deferred Tax on Acquisition of Sub Total Total 0
10 IFRS 10 - Control Q2 & Q3 Exam Technique An investor is exposed to or has rights to variable returns from an investee......and has power to affect those returns through power over investee. 1 2 Relevant Activities Determine Policy Investment decisions Appoint key staff Capital decisions Power Voting Rights Potential Voting Rights Appoint key staff Decision making 3 Variable Dividends Returns Variable Remuneration Other variable <50% - look at dispersement of other votes...still may have control Step 1 ID standard Step 2 Use the summaries from this course Step 3 Apply this to the scenario Re-write the information in the scenario......then say this suggests that... State what you know about it
11 IFRS 8 - Operating Segments O R P Operating Segment? Reportable? Present Business Activities CEO Reviews Info Separate Info Available 10% + Total Revenue 10% + Total Profit 10% + Total Assets Revenue, P/L, Assets & Liab, Interest, Tax, Dep n Central Costs on reasonable basis How management use info (even if not IFRS compliant) 75 75% Total Revenue Reported? If not then ignore O&R above and split further. June 08 Q2 a) Norman! December 11 Q1 b) Traveler
12 IAS 19 - Pensions Defined Benefit Scheme Defined amount paid out at end e.g. % of salary If deficit Co. has legal/constructive obligation Asset or Liability to Company Defined Contribution Scheme Defined amount paid into scheme No obligation on Co. Expense contributions annually June 2010 Q2 d) Cate Type of Scheme?
13 IAS 19 - Pensions Introducing Paul T. Pensioner IAS 19 Calculations B I S C U I T IAS 19 - Pensions Paul T. B/F 0 Ques 0 Ques Benefits Paid CR DR Interest Cost DR CR Service Costs DR CR Contributions P/L Assets DR DR Unrealised G/L Bal DR/CR Bal Increase Assets CR DR Unr g SOCI Liabilities CR Total at Year End Add Ques Add Ques
14 IAS 19 - Pensions A company maintains a defined benefit pension scheme for it s employees. The following information is relevant:! The pension assets brought forward in 20X0 $1,800 with a closing balance of $2,700.! The company contributes $90 per year into the scheme.! Benefits paid out in the period were $100.! The liabilities of the scheme were $1,600 at the start of the period and $2,100 at the end.! The discount rate is 12%.! The terms of the scheme have changed meaning that past service costs have arisen of $35 and the current service costs for the period are $70. Expected Return on Assets Working $ 12% Return on opening of 1,800 (1,800 x 12%) 216 Interest Cost (Unwinding of Discount) Working $ 12% Discount Rate (1,600 x 12%) 192 B I S C U I T IAS 19 - Pensions P/L Assets DR Paul T. B/F 0 1, ,600 Benefits Paid Interest Cost Service Costs Contributions 90 Unrealised G/L Increase Assets Unr g SOCI Liabilities CR Total at Year End 81 2, ,100
15 IAS 19 - Pensions Income Statement $ Service Costs 105 Net Interest ( ) -24 Figure For Profit & Loss 81 Other Comprehensive Income Net Re-measurement Component 391 Statement of Financial Position Net Pension Asset (If Recoverable) (2,700-2,100) 600 December 2007 Q2 (Adjusted) In Workbook
16 IAS 19 - Pensions (Dec 07 Q2) Expected Return on Assets Working $ 5% Return on opening of 190 (190 x 5%) 9.5 Interest Cost (Unwinding of Discount) Working $ 5% Unwinding of Discount on 200 (200 x 5%) 10 IAS 19 - Pensions (Dec 07 Q2) B I S C U I T P/L Assets DR Paul T. B/F Benefits Paid Interest Cost Service Costs Contributions 17 Unrealised G/L Increase Assets Unr g SOCI Liabilities CR Total at Year End
17 IFRS 2 - Share Based Payments Income Statement $ Service Costs 20 Net Interest (10-9.5) 0.5 Figure For Profit & Loss 20.5 Other Comprehensive Income Net Re-measurement Component 1.5 Statement of Financial Position Net Pension Liability ( ) 15 S E C Scope Payment for Goods in Shares Share Option Schemes Employee Purchase Schemes Goods = FV Goods on that Date Employee Services Equity Settled DR Wages CR Equity DR Wages CR Liability Settled In Shares Cash Settled Settled In Cash based on Share Price S Settled Early? Yr Yr No. Expected to Vest No. Expected to Vest Fair Value at GRANT DATE NO CHANGE Fair Value at REPORTING DATE CHANGE EACH YR Speed Up Recognition Business Combinations NOT! Financial Instruments with no goods delivered Proportion of Vesting Period Total Charge Expected Charge in Period Proportion of Total Charge Charge in Vesting Period Expected Period
18 IAS 16 - Non Current Assets R M Recognise Measure? Revalue If: What? UP Reliable Measure Probable Flow of Benefit Direct Costs Dismantling (Discounted amount) Separate Components Cost or revaluation less Dep n In equity to reserve (SOCI) Unless reversing impairment To I/S up to: Historic Depreciated Cost June 10 Q1 Note 6 Ashanti Group DOWN Against Previous Increase First T Transfer Then to I/S Transfer in Reserves? Revaluation Reserve to Retained Earnings Dep n on revalued amount less dep n on historic cost
19 IAS 36 - Impairment I C R I estructuring nterest Rate Rise Indicators Fall in Share Price Losses or loss of key staff Environmental D amaged Asset Compare Higher of Carrying Value TO Recoverable Amount Value in Use Fair Value Less Cost to Sell December 2009 Q2 -Key December 2011 Q3 b) - Scramble C Charge DR Income Statement (or revaluation reserve) 1. Damaged Asset CR 2. Goodwill 3. Other Assets Pro-Rata
20 Financial Instruments Classification T E S T S Hold not Sell Business Model Test Sell For Profit Contractual Cashflows Just principle & Interest Not just principle & Interest AC FVPL FVOCI Debt Hold Not Sell Just P & I All Others Never Financial Assets Just Debt Financial Assets! Financial Liabilities Equity All Never Held For Trading Not Held For Trading All Others Held For Trading Never June 2012 Q3 b) - Ethan Rules: 1. No change between FVPL & FVOCI 2. Only change between AC & FVPL to avoid mismatch or if business changes 3. No recycling of gains/losses for FVOCI
21 Impairment of Financial Assets Step 1 Check Carrying Value Step 2 Requirements: IAS 39 (Currently) Exposure Draft (Expected Loss Model) Compare to recoverable amount Discounted Future Cash Flows Objective evidence of impairment event Reliable Measure Evidence of expected event Adjust effective interest rate to reflect December 2011 Q1 - Traveler Note 4 - Bond
22 Financial Instrument Hedging Type What? Treatment Fair Value Hedge Hedged Item at FVPL Hedging Instrument at FVPL Offset P/L on each in the Income Statement June 10 Q3 a) - Seltec Cash Flow Hedge Hedged Item is FUTURE Cash-flow Hedging Instrument at FVPL Recognise P/L on Hedging Instrument in OCI Until Cash-flow occurs - then offset in IS Embedded Derivative 2 Parts to a contract: 1. Usual Contract 2. Derivative Element IAS 39: Separate out and treat derivative element as FVPL IFRS 9: Treat all at FVPL
23 Fair Value Hedging Cash Flow Hedging Hedged Item (Held at FVPL) Hedging Instrument (Derivative - always at FVPL) Hedged Item (Future Cash Flow) Hedging Instrument (Derivative - always at FVPL) New Fair Value $80,000 New Fair Value Fair Value $2m New Fair Value $1,920,000 Loss $80,000 Offset in I/S Gain $80,000 Fair Value $0 Agreed Settled Loss Initially in Reserves To I/S when Cash-flow occurs Gain Fair Value $0
24 F IAS 17 - Leases Most of UEL Finance Lease? Ownership Transfer P resent Value of Payments > F. Value P urchase = Bargain L L Lessee Lessor Record Asset Depreciate Asset Lower of Record Liability Then PV minimum lease payments Fair Value Remove Asset From F. Statements Record a Receivable Record Interest Income Adjust for Effective Interest Adjust for Cash Paid Dec 08 Q3 b) - Johan June 12 Q2 a) - William S Sale & Lease Back Profit deferred over lease term
25 IAS 37 - Provisions N E E D Liability Asset Present Constructive/legal obligation from past event Probable Outflow Reliable Measure Virtually Certain Create Asset Probable Possible Create Provision Disclose Contingent Asset Disclose Contingent Liability Nothing Remote Nothing Nothing Dec 10 Q3 a) - Greenie Dec 09 Q1 (Note 8) - Grange June 12 Q2 d) - William Measure Many Items - Expected Values One Item - Best estimate Time value material? - Discount
26 IAS 38 - Intangible Assets R C A Recognise? Capitalise? Amortise? Identifiable & Controlled Future Economic Benefit Reliable Measure Never Research Development if: Future Costs if: Straight line over UEL Indefinite life Feasible Future Economic Benefit Future Economic Benefit above previously achievable No Amortisation Assess for impairment each year June 11 Q2 c) - Lockfine Dec 11 Q2 a) - Scramble June 10 Q3 b) - Seltec
27 IAS 18 - Revenue Recognition Goods Service Both Separable Transfer of Risks & Rewards No Management Control Reliable Measure Stage of Completion of Contract Reliable Measure Probable Flow of Benefit Same contract Part Goods & Part Services Separate out if possible Dec 11 Q4 b) - Venue
28 IFRS 5 - Assets Held For Sale & Dis. Op. A F S P lan to sell A vailable Immediately Available? L ocating a buyer Marketed - reasonable price 12 Months of SFP date Fair Value Sub Discontinued? Revalue to Fair Value Any impairment to I/S Not Depreciated Major Line of Business Geographical Area Plan to sell Disclosures Required December 2009 Q2 b) -Key (Last Paragraph) December 2012 Q1 - Minny a) Note 6 & b)
29 IAS 40 - Investment Property I P S If Held For Capital Appreciation Rental Land where unsure of Use Not if rented to employees! Put revaluation through I/S with no Dep n...or Hold at Cost less Dep n Split if some own use! December 2012 Q3 a) - Blackcutt
30 IAS 12 - Income Tax Tax asset must be recoverable Deferred tax reflects timing differences Compare FS Carrying Value to tax base & multiply the difference by the tax rate... Financial Statements Show More Asset/ Income I/S Tax Effect More Tax DR Deferred Tax Def. Tax Liability CR Dec 10 Q1 Note (i) - Jocatt June 10 Q2 a) - Cate Less Asset/ Income More Liability/ Expense Less Liability/ Expense Less Tax CR Less Tax CR More Tax DR Def. Tax Asset DR Def. Tax Asset DR Def. Tax Liability CR
31 IAS 20 - Government Grants IAS 23 - Borrowing Costs E A Grant may relate to... Expense Asset Set off against expense or... Treat as other income Reduce NBV asset or... Hold as deferred income W A S When Amount Building an asset For Sale or use Capitalise interest cost Interest cost Less... Start on later of... Temporary investment income Activities begin Borrowing costs incurred Expenditure begins
32 IFRS 13 - Fair Value Levels of Inputs to determine Best Ok Quoted Active Market Identical Items Quoted price...similar items Inactive market...identical items Observe similar items 3 Not Great Replacement cost Discounted cash flows
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
1. Corporate information DP World PLC ( the Company ) formerly known as DP World Limited, was incorporated on 9 August 2006 as a Company Limited by Shares with the Registrar of Companies of the Dubai International
More informationInstitute of Chartered Accountants Ghana (ICAG) Paper 3.1 Corporate Reporting
Institute of Chartered Accountants Ghana (ICAG) Paper 3.1 Corporate Reporting Final Mock Exam 1 Marking scheme and suggested solutions DO NOT TURN THIS PAGE UNTIL YOU HAVE COMPLETED THE MOCK EXAM Corporate
More informationAnesu Daka CA(SA)- CAA
FAC4861 4 August 2015 Tut 105/106 1. IAS32/39/IFRS9&7-Financial instruments 2. IAS 33-Earnings per share 3. IAS 17- Leases Forex Transactions: IAS 21 Effects in foreign exchange rates transactions IAS
More informationAnesu Daka CA(SA) - CAA
FAC4863 4 August 2015 Tut 105/106 1. IAS 21- The effects of changes in foreign exchange rates 2. IAS32/39/IFRS9&7-Financial instruments 3. IAS 39-Hedging 4. IAS 33-Earnings per share 5. IAS 17- Leases
More informationIFRS-compliant accounting principles
IFRS-compliant accounting principles Since 1 January 2005, Uponor Corporation has prepared its consolidated financial statements in compliance with the following accounting principles: Main functions Uponor
More informationAccounting policies extracted from the 2016 annual consolidated financial statements
Steinhoff International Holdings N.V. (Steinhoff N.V.) is a Netherlands registered company with tax residency in South Africa. The consolidated annual financial statements of Steinhoff N.V. for the period
More informationAttributable to: Equity shareholders of Alpha 38,540 Minority interest (working 4) 5,300 43,840
Answers 6D ENGIX Diploma in International Financial Reporting December 2006 Answers 6D ENGAA 1 (a) ALPHA Consolidated Income Statement for the Year Ended 30 September 2006 [all numbers in $ 000 unless
More informationUNITED INTERNATIONAL TRANSPORTATION COMPANY (A SAUDI JOINT STOCK COMPANY) AND IT S SUBSIDIARY
(A SAUDI JOINT STOCK COMPANY) AND IT S SUBSIDIARY CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2018 INDEX PAGE 1-6 Consolidated Statement of Profit or
More informationACCOUNTING POLICIES. for the year ended 30 June MURRAY & ROBERTS ANNUAL FINANCIAL STATEMENTS 13
12 MURRAY & ROBERTS ANNUAL FINANCIAL STATEMENTS 13 ACCOUNTING POLICIES for the year ended 30 June 2013 1 PRESENTATION OF FINANCIAL STATEMENTS These accounting policies are consistent with the previous
More informationMarel hf. Consolidated Interim Financial Statements 31 March 2007
Marel hf Consolidated Interim Financial Statements 31 March 2007 Index Pages The Board of Directors' and the CEO's Report... 2 Financial Ratios... 3 Consolidated Income Statement... 4 Consolidated Balance
More informationProfessional Level Essentials Module, Paper P2 (IRL)
Answers Professional Level Essentials Module, Paper P2 (IRL) Corporate Reporting (Irish) June 2012 Answers 1 (a) Robby Consolidated Statement of Financial Position at 31 May 2012 Assets Non-current assets:
More informationand Marking Scheme 40 Total equity and liabilities 1,700,530
Answers Diploma in International Financial Reporting December 2016 Answers and Marking Scheme Marks 1 Consolidated statement of financial position of Alpha at 30 September 2016 Assets Non-current assets:
More informationINFORMA 2017 FINANCIAL STATEMENTS 1
INFORMA 2017 FINANCIAL STATEMENTS 1 GENERAL INFORMATION This document contains Informa s Consolidated Financial Statements for the year ending 31 December 2017. These are extracted from the Group s 2017
More informationFinancial review Refresco Financial review 2017
Financial review 2017 Financial review 2017 Financial review 2017 1 69 Consolidated income statement For the year ended December 31, 2017 (x 1 million euro) Note December 31, 2017 December 31, 2016 Revenue
More information(All numbers in $ 000 unless otherwise stated) Marks
Answers Diploma in International Financial Reporting December 200 Answers (All numbers in $ 000 unless otherwise stated) (a) Consolidated statement of financial position of Alpha at 30 September 200 ASSETS
More informationNOTES TO THE FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES 1.1 Nature of business Super Group Limited (Registration number 1943/016107/06), the holding Company (the Company) of the Group, is a Company listed
More informationA.G. Leventis (Nigeria) Plc
CONTENTS COMPLIANCE CERTIFICATE 3 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 4 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 5 STATEMENT OF CASHFLOWS 6 STATEMENT OF CHANGES IN EQUITY 7 NOTES TO THE
More informationF2 Financial Management November 2014 examination. Examiner s Answers
Management Level Paper F2 Financial Management November 2014 examination Examiner s Answers Note: Some of the answers that follow are fuller and more comprehensive than would be expected from a well-prepared
More informationNotes to the financial statements
11 1. Accounting policies 1.1 Nature of business Super Group Limited (Registration number 1943/016107/06), the holding Company of the Group (the Company), is a Company listed on the Main Board of the JSE
More informationTOTAL ASSETS 417,594, ,719,902
WABERER'S International NyRt. CONSOLIDATED STATEMENT OF FINANCIAL POSITION data in EUR Description Note FY 2014 FY 2015 restated NON-CURRENT ASSETS Property 8 15,972,261 17,995,891 Construction in progress
More informationNOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2014
14 NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS 1. ACCOUNTING POLICIES The financial statements are presented in South African Rand, unless otherwise stated, rounded to the nearest million, which is
More informationProfessional Level Essentials Module, Paper P2 (INT)
Answers Professional Level Essentials Module, Paper P2 (INT) Corporate Reporting (International) June 2011 Answers 1 (a) (i) The functional currency is a matter of fact and is the currency of the primary
More informationWORKINGS DO NOT DOUBLE COUNT MARKS Working 1 Revenue $ 000 Alpha + Beta 390,000 ½ Intra-group sales to Beta (25,000)
Answers Diploma in International Financial Reporting December 0 Answers and Marking Scheme Marks Consolidated statement of comprehensive income of Alpha for the year ended 30 September 0 Revenue (W) 365,000
More informationAttributable to Minority interest (4,200 x 20%) 840 Alpha shareholders (balance) 19,642 Net profit for the period 20,482
Answers Diploma in International Financial Reporting December 2005 Answers 1 (a) 1. Consolidated income statement for the year ended 30 September 2005 Revenue (W1) 241,200 Cost of sales (balancing figure)
More informationNotes to the consolidated financial statements (forming part of the financial statements)
Annual Report and Accounts Notes to the consolidated financial statements 1. Corporate information DP World Limited ( the Company ) was incorporated on 9 August 2006 as a Company Limited by Shares with
More informationCIMA Paper F2. Advanced Financial Reporting. Notes
CIMA Paper F2 Advanced Financial Reporting Notes F2: Advanced Financial Reporting Kaplan Financial Limited, 2015 The text in this material and any others made available by any Kaplan Group company does
More informationGroup accounting policies
81 Group accounting policies BASIS OF ACCOUNTING AND REPORTING The consolidated financial statements as set out on pages 92 to 151 have been prepared on the historical cost basis except for certain financial
More informationConsolidated Interim Financial Statements
M K B B a n k Z r t. G r o u p 10 011 922 641 911 400 statistic code Consolidated Interim Financial Statements Prepared under International Financial Reporting Standards as adopted by the EU Budapest,
More informationACCOUNTING POLICIES 1 PRESENTATION OF FINANCIAL STATEMENTS MURRAY & ROBERTS ANNUAL FINANCIAL STATEMENTS 17
20 ACCOUNTING POLICIES FOR THE YEAR ENDED 30 JUNE 2017 1 PRESENTATION OF FINANCIAL STATEMENTS 1.1 Basis of preparation These consolidated and separate financial statements have been prepared under the
More informationIntroduction Consolidated statement of comprehensive income for the year ended 31 December 20XX... 6
PKF International Limited administers a network of legally independent member firms which carry on separate businesses under the PKF Name. PKF International Limited is not responsible for the acts or omissions
More informationConsolidated financial statements for the year ended December 31 st, In accordance with International Financial Reporting Standards («IFRS»)
INFO-QUEST S.A. Consolidated financial statements for the year ended December 31 st, 2009 In accordance with International Financial Reporting Standards («IFRS») The attached financial statements have
More informationFinancial Statements for the year ended December 31 st, 2006 in accordance with International Financial Reporting Standards («IFRS»)
INFO-QUEST S.A. Financial Statements for the year ended December 31 st, 2006 in accordance with International Financial Reporting Standards («IFRS») The attached financial statements have been approved
More informationMODEL FINANCIAL STATEMENTS INTERNATIONAL GAAP HOLDINGS LIMITED
MODEL FINANCIAL STATEMENTS INTERNATIONAL GAAP HOLDINGS LIMITED MODEL FINANCIAL STATEMENTS INTERNATIONAL GAAP HOLDINGS LIMITED Financial Statements for the year ended 31 December 2001 The model financial
More informationGroup Income Statement
MASSMART GROUP ANNUAL FINANCIAL STATEMENTS 2014 Group Income Statement December 2014 December 2013 Rm Notes 52 weeks 53 weeks Revenue 5 78,319.0 72,512.9 Sales 5 78,173.2 72,263.4 Cost of sales (63,610.8)
More information2.4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Franshion Properties (China) Limited Annual Report 2013 175 2.4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Subsidiaries A subsidiary is an entity (including a structured entity), directly or indirectly,
More informationIFRS for SMEs IFRS Foundation-World Bank
International Financial Reporting Standards 1 IFRS for SMEs IFRS Foundation-World Bank 26 27 May 2011 Kiev, Ukraine Copyright 2010 IFRS Foundation. All rights reserved. The IFRS for SMEs 2 Topic 3.1(b)
More informationOwnership percentage (%) Related parties 9,369, Treasury shares 4,266, Others 5,562, ,198,
1. General Information (the Company ) was incorporated on December 18, 1933, under the name of Sohwa-Kirin Beer, Ltd. to manufacture and sell beer. The Company has changed its name to Dongyang Beer, Ltd.
More informationEast Caribbean Financial Holding Company Limited
Consolidated Financial Statements (Expressed in Eastern Caribbean Dollars) Index to the Consolidated Financial Statements Page Auditor s Report 1-6 Consolidated Statement of Financial Position 7-8 Consolidated
More informationExaminer's Answers F2 - Financial Management March 2014
Examiner's Answers F2 - Financial Management March 2014 Some of the answers that follow are fuller and more comprehensive than would be expected from a well-prepared candidate. They have been written in
More informationINDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
INDEX TO UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Unaudited Condensed Consolidated Interim Financial Statements of Tata Consultancy Services Limited Unaudited Condensed Consolidated
More informationPRESS CORPORATION LIMITED AND ITS SUBSIDiARIES FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 32 directors report The Directors have pleasure in presenting the audited financial statements of the Group and of the Company Press Corporation Limited. INCORPORATION AND REGISTERED
More informationImpairment of Assets DEFINITIONS
IAS 36 Impairment of Assets DEFINITIONS Cash generating unit (CGU) Impairment loss Recoverable amount is the smallest identifiable group of assets that generates cash inflows that are largely independent
More informationACCOUNTING POLICIES 1 PRESENTATION OF FINANCIAL STATEMENTS. for the year ended 30 June BASIS OF PREPARATION 1.2 STATEMENT OF COMPLIANCE
14 MURRAY & ROBERTS ANNUAL FINANCIAL STATEMENTS 15 ACCOUNTING POLICIES for the year ended 30 June 2015 1 PRESENTATION OF FINANCIAL STATEMENTS 1.1 BASIS OF PREPARATION These consolidated and separate financial
More informationAbu Dhabi Aviation. Consolidated financial statements. 31 December Principal business address: P. O. Box 2723 Abu Dhabi United Arab Emirates
Consolidated financial statements 31 December 2017 Principal business address: P. O. Box 2723 Abu Dhabi United Arab Emirates Consolidated financial statements Contents Page Independent auditors report
More informationCORPORATE REPORTING PROFESSIONAL 1 EXAMINATION - APRIL 2013
CORPORATE REPORTING PROFESSIONAL 1 EXAMINATION - APRIL 2013 NOTES: You are required to answer Questions 1, 2 and 3. You are also required to answer either Question 4 or 5. (If you provide answers to both
More informationPrincipal Accounting Policies
1. Basis of Preparation The accounts have been prepared in accordance with Hong Kong Financial Reporting Standards ( HKFRS ). The accounts have been prepared under the historical cost convention as modified
More informationThe consolidated financial statements were authorised for issue by the Board of Directors on 1 June 2015.
ACCOUNTING POLICIES for the year ended 31 March 2015 Transnet SOC Ltd (the Company ) is a company domiciled in South Africa. The consolidated financial statements for the year ended 31 March 2015 comprise
More informationAdvanced Financial Accounting and Reporting (AFAR)
SET A SEPTEMBER 2015 SUGGESTED SOLUTION QUESTION 1 a) Labian Bhd Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2015 000 Revenue (176,400 + 105,840)
More informationand Marking Scheme 40 Total equity and liabilities 1,056,966
Answers Diploma in International Financial Reporting December 203 Answers and Marking Scheme Marks Consolidated statement of financial position of Alpha at 30 September 203 ASSETS Non-current assets: Property,
More informationP2 CORPORATE REPORTING
IAS 16 PROPERTY, PLANT & EQUIPMENT IAS 16 defines PPE as tangible items that: Are held for use in the production or supply of goods or services, for rental to others or for administrative purposes and
More informationInternational accounting standards for all students of the F pillar and all Case Studies
International accounting standards for all students of the F pillar and all Case Studies The CIMA syllabus for the F pillar (and BA3) makes numerous references to the International Accounting Standards.
More informationINCOME TAX. Draft flow chart and illustrative examples. prepared by the IASB s staff March 2009
Draft flow chart and illustrative examples prepared by the IASB s staff March 2009 The following flow chart and illustrative examples have been prepared by the IASB s staff to illustrate the proposals
More informationProfessional Level Essentials Module, Paper P2 (SGP) 1 Minny Group
Answers Professional Level Essentials Module, Paper P2 (SGP) Corporate Reporting (Singapore) December 2012 Answers 1 Minny Group (a) Consolidated Statement of Financial Position at 30 November 2012 Assets:
More informationIFRS for SMEs IFRS Foundation-World Bank
International Financial Reporting Standards 1 IFRS for SMEs IFRS Foundation-World Bank 26 27 May 2011 Kiev, Ukraine Copyright 2010 IFRS Foundation. All rights reserved. The IFRS for SMEs 2 Topic 1.2 Overview
More informationConsolidated financial statements
Consolidated financial statements Year ended 31 March 2014 1/90 CONSOLIDATED INCOME STATEMENT (in million) Note 31 March 2014** 31 March 2013* Sales (5) 20,26 9 20,26 9 Cost of sales (16,213) (16,324)
More informationMarel Food Systems hf. Consolidated Financial Statements for the year 2007
Marel Food Systems hf Consolidated Financial Statements for the year 2007 Index Pages The Board of Directors' and the CEO's Report... 2 Independent auditor s report... 3 Financial Ratios... 4 Consolidated
More informationInsights into IFRS. An overview. Audit Committee Institute part of KPMG Board Leadership Centre. September kpmg.com/ifrs
Insights into IFRS An overview Audit Committee Institute part of KPMG Board Leadership Centre September 2017 kpmg.com/ifrs 2 Insights into IFRS About the Audit Committee Institute Sponsored by more than
More informationJAMAICAN TEAS LIMITED CONSOLIDATED FINANCIAL STATEMENTS 30 SEPTEMBER 2017
CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS I N D E X PAGE Independent Auditors' Report to the Members 1-4 FINANCIAL STATEMENTS Consolidated Statement of Profit or Loss and Other
More informationcomplex 01 technical Table 1: draft statements of financial position
01 technical complex RELEVANT to ACCA Qualification paper P2 the subject of complex group accounting is examined in paper p2 and students should ensure they are very familiar with the accounting treatment
More informationNotes to the Consolidated Financial Statements
CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS 1. General Information JSW Steel Limited ( the Company or the Parent ) is primarily engaged in the business of manufacture and sale of Iron and
More informationFor personal use only
Statement of Profit or Loss for the year ended 31 December Note Continuing operations Revenue 2 100,795 98,125 Product and selling costs (21,072) (17,992) Royalties (149) (5,202) Employee benefits expenses
More informationAjisen (China) Holdings Limited
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationRAS AL KHAIMAH POULTRY & FEEDING CO. P.S.C. Financial statements and independent auditor s report for the year ended 31 December 2016
RAS AL KHAIMAH POULTRY & FEEDING CO. P.S.C. Financial statements and independent auditor s report for the year ended 31 December 2016 RAS AL KHAIMAH POULTRY & FEEDING CO. P.S.C. Contents Pages Independent
More information- CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Note 2015 2014 US$ 000s US$ 000s (Restated) Continuing operations Lease revenue 56,932 48,691 Other income 9 3,202 3,435 60,134
More informationDirectors Report 3. Income Statements 4. Statements of Changes in Equity 5. Balance Sheets 6. Statements of Cash Flows 7-8
Rakon Limited Annual Report 2009 Table of Contents Directors Report 3 Income Statements 4 Statements of Changes in Equity 5 Balance Sheets 6 Statements of Cash Flows 7-8 Notes to Financial Statements
More informationVOLUME III. Accounting Policies
VOLUME III Accounting Policies 2016 002 CONTENT Accounting Policies 1 Basis of accounting... 4 2 Changes in accounting policies... 5 3 Accounting estimates... 7 4 Events after the reporting period... 8
More informationACCA. Paper P2 (INT & UK) Corporate Reporting. Dec-2013
ACCA Paper P2 (INT & UK) Corporate Reporting Dec-2013 To gain maximum benefit, do not refer to these answers until you have completed the interim assessment questions and submitted them for marking. ACCA
More informationConsolidated Financial Statements of ANGOSTURA HOLDINGS LIMITED. December 31, 2014 (Expressed in Trinidad and Tobago Dollars)
Consolidated Financial Statements of (Expressed in Trinidad and Tobago Dollars) Consolidated Statement of Comprehensive Income Year ended (Expressed in Trinidad and Tobago Dollars) Restated Notes 2014
More informationUnaudited consolidated interim financial statements and independent auditor s review report BORETS INTERNATIONAL LIMITED 30 June 2015
Unaudited consolidated interim financial statements and independent auditor s review report BORETS INTERNATIONAL LIMITED 30 June 2015 Contents Independent Auditor s Review Report Unaudited Consolidated
More informationOVERVIEW OF IND AS INCLUDING CARVE OUTS. C.A. Sanjay Vasudeva S. C. Vasudeva & Co. Chartered Accountants
Seminar of North Ex CA Study Circle Hotel Oasis, New Delhi OVERVIEW OF IND AS INCLUDING CARVE OUTS C.A. Sanjay Vasudeva S. C. Vasudeva & Co. Chartered Accountants 16th December 2016 Overview Need for International
More informationInd AS 105: Non-current Assets Held for Sale
Ind AS 105: Non-current Assets Held for Sale Contents 1. Navigating the standard 2. Definitions 3. Non-current asset & disposal group Classification 4. Initial measurement 5. Non-current asset held for
More informationInternational Financial Reporting Standards
Audit International Financial Reporting Standards Model financial statements 2005 Audit.Tax.Consulting.Corporate Finance. An IAS Plus guide Deloitte IFRS resources In addition to this publication, Deloitte
More informationSUGGESTED ANSWERS AND EXAMINER S COMMENTARY
SUGGESTED ANSWERS AND EXAMINER S COMMENTARY The suggested answers set out below were used to mark this question. Markers were encouraged to use discretion and to award partial marks where a point was either
More informationSaving our customers money so they can live better
Saving our customers money so they can live better MASSMART GROUP ANNUAL FINANCIAL STATEMENTS 2016 1 GROUP INCOME STATEMENT December 2016 December 2015 Rm Notes 52 weeks 52 weeks Revenue 5 91,564.9 84,857.4
More informationCONSOLIDATED STATEMENT OF FINANCIAL POSITION
PETRONAS Dagangan Berhad Annual Report CONSOLIDATED STATEMENT OF FINANCIAL POSITION as at 31 December Note ASSETS Property, plant and equipment 3 3,372,292 3,794,252 Prepaid lease payments 4 456,821 476,856
More informationChapter 6 Financial statements
Chapter 6 Financial statements Consolidated statement of financial position 51 Consolidated income statement 52 Consolidated statement of comprehensive income 52 Consolidated statement of cash flows 53
More informationAssurance Services Financial Reporting Landscape What s on the Horizon
Assurance Services What s on the Horizon PwC Outline of Presentation Newly issued accounting standards Indonesian GAAP In the pipeline IFRS update Plan to fully adopt IAS/IFRS Slide 2 Accounting Standards
More informationDoha Insurance Company Q.S.C.
FINANCIAL STATEMENTS 31 December 2014 STATEMENT OF INCOME For the year ended 31 December 2014 Notes Gross premiums 533,715,317 516,669,468 Reinsurers share of gross premiums (403,053,662) (410,411,989)
More informationGEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS
GEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS Table of Contents Consolidated Income Statement 12 Consolidated Statement of Comprehensive Income 12 Consolidated Balance Sheet 13 Consolidated Statement
More informationConsolidated financial statements of MTY Food Group Inc. November 30, 2016 and 2015
Consolidated financial statements of MTY Food Group Inc. November 30, 2016 and 2015 Deloitte LLP La Tour Deloitte 1190 Avenue des Canadiens-de-Montréal Suite 500 Montreal QC H3B 0M7 Canada Tel: 514-393-7115
More informationINDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unaudited Condensed Consolidated Financial Statements of Tata Consultancy Services Limited Unaudited Condensed Consolidated Statements of
More informationInsights into IFRS An overview
Insights into IFRS An overview Audit Committee Institute September 2018 kpmg.com/ifrs About the Audit Committee Institute Sponsored by more than 40 member firms around the world, KPMG s Audit Committee
More informationMay & Baker Nig Plc RC. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2017
` May & Baker Nig Plc RC. 558 UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 31 MARCH 2017 UNAUDITED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Note Continuing operations Revenue
More informationGeneral notes to the consolidated financial statements
80 ARCADIS Financial Statements 2013 General notes to the consolidated financial statements General notes to the consolidated financial statements 1 General information ARCADIS NV is a public company organized
More informationNigerian Aviation Handling Company PLC
Nigerian Aviation Handling PLC Financial Statements -- H1 2018 Nigerian Aviation Handling PLC Consolidated Statement of Comprehensive Income 1 Consolidated Statement of Financial Position 2 Statement of
More informationConverse Bank closed joint stock company. Consolidated Financial Statements. 31 December 2017
Converse Bank closed joint stock company Consolidated Financial Statements 31 December 2017 1 Converse Bank CJSC Consolidated financial statements as at 31 December 2017 Contents Consolidated statement
More informationNOTES TO THE FINANCIAL STATEMENTS
These notes form an integral part of the financial statements. The financial statements were authorised for issue by the Board of Directors on 14 March 2014. 1 DOMICILE AND ACTIVITIES City Developments
More informationPrepared by Anesu Daka CA (SA) (Z) 1
Prepared by Anesu Daka CA (SA) (Z) 1 Commissioner Anesu Daka CA(SA)(Z) Chartered Accountant (South Africa); Professional Speaker (Toastmasters International); Founding & Principal Director of CAA Trained
More informationFAC Non-Current Assets Held for Sale IFRS 5
FAC 3702 2012 Non-Current Assets Held for Sale IFRS 5 - Introduction - Criteria to class NCAHfS - Extension Period - Criteria Met after reporting period - Measurement - Impairment Losses + Reversals -
More informationA7 Accounting policies
A7 Accounting policies Of the accounting policies outlined below, those deemed to be the most significant for the group are those that align with the critical accounting judgements and key sources of estimation
More informationBlueScope Financial Report 2013/14
BlueScope Financial Report /14 ABN 16 000 011 058 Annual Financial Report - Page Financial statements Statement of comprehensive income 2 Statement of financial position 4 Statement of changes in equity
More informationQUAYSIDE HOLDINGS LIMITED AND SUBSIDIARIES
QUAYSIDE HOLDINGS LIMITED AND SUBSIDIARIES ANNUAL FINANCIAL STATEMENTS For the year ended 30 JUNE 2015 CONTENTS PAGE Auditor s Report 1 Income Statement 4 Statement of Comprehensive Income 5 Statement
More informationSUMMARY OF SIGNIFICANT ACCOUNTING POLICIES For the financial year ended 31 December 2013
Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items that are considered material in relation to the financial statements. These policies have
More informationIndependent Auditor s Report to the Members of Caltex Australia Limited
61 Independent Auditor s Report to the Members of Caltex Australia Limited Report on the financial report We have audited the accompanying financial report of Caltex Australia Limited (the Company), which
More informationAndermatt Swiss Alps Group Consolidated financial statements together with auditor's report for the year ended 31 December 2016
Andermatt Swiss Alps Group Consolidated financial statements together with auditor's report for the year ended 31 December 2016 F-1 Andermatt Swiss Alps AG Consolidated statement of comprehensive income
More informationAl-Sagr National Insurance Company (Public Shareholding Company) and its subsidiary
Al-Sagr National Insurance Company (Public Shareholding Company) Consolidated financial statements for the year ended 31 December 2014 Consolidated financial statements for the year ended 31 December 2014
More informationigaap 2005 in your pocket
igaap 2005 in your pocket A summary of international financial reporting from a UK perspective July 2005 Contents Deloitte guidance 1 Abbreviations used in this publication 2 Current international standards
More informationGEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS GEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS
GEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS GEDEON RICHTER CONSOLIDATED FINANCIAL STATEMENTS 1 Table of Contents Consolidated Income Statement 10 Consolidated Statement of Comprehensive Income 10
More informationFor personal use only
FINANCIAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 1 FINANCIAL STATEMENTS YEAR ENDED 30 JUNE CONTENTS Page Directors Responsibility Statement 3 Independent Auditor s Report 4 Consolidated Income Statement
More informationSt. Kitts Nevis Anguilla Trading and Development Company Limited
St. Kitts Nevis Anguilla Trading and Development Company Limited Unaudited Consolidated Financial Statements Consolidated Statement of Financial Position As at Assets January 2018 Current assets Cash and
More information