CAP2 FR

Model Financial Statements

Model financial statements are very helpful for preparing disclosure notes as well as the layout and key line items of the financial statements for Q1 & Q2.

Students should print off one set of the statements and tab the most popular standards and their respective disclosure notes and accounting policies.

The benefit of using model financial statements rather than an actual set of Plc accounts is that most model statements will refer to the relevant standard + paragraph in the page margin so you can understand why exactly that disclosure is provided.

Deloitte – IAS Plus Model Statements

 

KPMG Model Statements

 

Grant Thornton Model Statements

 

IFRS at a Glance

BDO provide a very useful resource called IFRS at a glance. It contains a summary overview (typically 1 or 2 pages) of each IAS/IFRS and can be a very useful study resource when you are studying the relevant standards.

Given the open book nature of the exam, students should prepare their own cheat sheets for each IFRS/IAS (or at least the more complex ones) to help consolidate your knowledge for each standard and also to have as a quick reference guide in the exam if the standard comes up.

BDO – IFRS at a Glance

 

Question 1

This screencast covers Summer 2018 Question 1

Key areas include;

  • Approaching Q1 in a structured manner;
  • Structure of workings and cross referencing to financial statements;
  • Key examiner feedback and concerns; and
  • IAS38, IAS40, IAS16, IAS23, IAS2, IAS21, IAS10, IAS 12.

Question 2 – Group (Vanilla)

This screencast covers Summer 2019 Question 2

Key areas include;

  • Approaching group questions in a logical manner;
  • Preparing the CSOFP, CSPLOCI & CSOCE; and
  • Subsidiary (Prior year acq.) + Associate (Mid year acq.).

This screencast covers Summer 2013 Question 2

Key areas include;

  • Approaching group questions in a logical manner;
  • Preparing the CSOFP, CSPLOCI & CSOCE; and
  • Subsidiary (Prior year acq.) + Associate (Mid year acq.).

Question 2 – Group (SOCF)

This screencast covers Summer 2015 Question 2

Key areas include;

  • Approaching CSOCF in a logical manner;
  • Use of T accounts for SOCF; and
  • Mid year acquisition of subsidiary.

 

 

 

 

 

 

 

This document provides a summary overview the key issues involved in preparing a CSOCF as well as examples of past exam questions to focus on.

The document is available to download in PDF – just click on the image to the left.

 

Question 2 – Group (FX)

This screencast covers Summer 2016 Question 2

Key areas include;

  • Approaching group FX questions in a logical manner; and
  • Dealing with an FX sub as per IAS21.

This screencast covers Acre Plc (JN Own Question)

The question and solution are available to download from here – just click on the links

Key areas include;

  • Approaching group FX questions in a logical manner; and
  • Dealing with an FX sub as per IAS21.

 

 

 

 

 

 

 

This document provides a summary overview the key issues involved in dealing with a foreign subsidiary (IAS 21) as well as examples of past exam questions to focus on.

The document is available to download in PDF – just click on the image to the left.

Question 2 – Group (Disposal)

This is a suggested solution for Summer 2017 Question 2

Key areas include;

  • Approaching group questions in a logical manner;
  • Full disposal of a subsidiary;
  • Preparing the CSOFP, CSPLOCI & CSOCE;and
  • Joint Venture – IFRS11 & IAS28.

This is a suggested solution for Autumn 2015 Question 2

Key areas include;

  • Approaching group questions in a logical manner;
  • Full disposal of a subsidiary;
  • Preparing the CSOFP, CSPLOCI & CSOCE;and
  • Acquisition of associate – IAS28.

 

 

 

 

 

 

 

This document provides a summary overview the key issues in dealing with the disposal of a subsidiary as well as examples of past exam questions to focus on.

The document is available to download in PDF – just click on the image to the left.

 

Issue Questions – Q3&4

This screencast covers Summer 2018 Question 3

Key areas include;

  • CGU Impairment – IAS36;
  • PPE & Grants – IAS 16 & IAS 20;and
  • Revenue Recognition – IFRS 15.

This screencast covers Autumn 2013 Question 3

Key areas include;

  • Impairment of a CGU – IAS36;
  • Defined benefit pension scheme – IAS19;
  • Defined contribution pension scheme – IAS19; and
  • Journal Entries.

This screencast covers Summer 2016 Question 3

Key areas include;

  • Deferred Tax – IAS12;
  • Events after the reporting period – IAS10;and
  • Earnings per share – IAS33.