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ACCA#Paper#P2# – # Corporate#Reporting#

Past#Paper#December#2010!

Question-1 -

-

Exam-techniques:-

Read!the!requirements!first !

• Start!cash!flow!statement ! i.e.!heading!up!and!profit!before!tax ! •
• Start!cash!flow!statement ! i.e.!heading!up!and!profit!before!tax !
• For!cash!flow!statement!“start”!workings!before!reading!requirements!i.e.!
opening!and!closing!balances !
• Read!notes!entirely! and!comment !
Comments-on-the-
requirements :-
(i)! I ! (ix)!!
To!be!completed!in!revision!session!…!
!
(a)!
JOCATT#GROUP#
STATEMENT#OF#CASH#FLOW#
#
AS#AT#30#NOVEMBER#2010#
#
#
#
#
#
#
#
59# # #
#
(6)# #
6# #
(1)# #
17# # #
4# #
# (1.50)# #
27# # #
# 31.50## #
(9)# #
# 0.50## #
(7)# #
23# # #
56# # #
89# # #
#
#
#
#
288.50##

#Profit#before#tax# Adjustment#to#operating#activity:# Share#of#profit#of#associates# Fi nance#costs#paid # Profit#on#AFS#investment#($5m#W # $4m) # Amortization # Retirement#benefit#expense# Gain#on#investment#property# Depreciation#on#PPE # Impairment#of#goodwill # Profit#on#sale#of#land#(15+4W 10) # Loss# on#replacement#of#disposal # Cash#paid#in#to#retirement#benefit# Decrease#in#inventory# Decrease#in#Trade#receivables# Increase#in#payables# Cash#generated#from#operations # Interest#paid#(finance#cost)# Income#tax# paid # Cash#Flow#from#operating#activities#

(6)#

(16.50)#

266# #

Davisdadon’s! Revision!Group!Sessions!for!Exams!in!June!2011!

ACCA#Paper#P2# – # Corporate#Reporting#

Past#Paper#December#2010!

#Cash#Flow#from#investing#activities:# Purchase#PPE # Additions#to#investment#property# Purchase#of#associate#
#Cash#Flow#from#investing#activities:#
Purchase#PPE #
Additions#to#investment#property#
Purchase#of#associate#
Purchase#AFS#investment#
Intangible#assets#
Proceeds#from#sale#of#land #
Purchase#of#Subsidiary#($15m# W # $7m) #
Cash#Flow#from#investing#activities#
#
#
#
(98)# #
(1)# #
(48)# #
(5)# #
(12)# #
15# # #
(8)# #
#
(157)#
#
#Cash#Flow#from#financing#activities:#
Non W Controlling#interest#dividends # paid #
Dividends#paid #
Repayment#of#longW term# borrowings #
Rights#issue#
#
#
#
(13)# #
(5)# #
(4)# #
2# #
#
#
(20)#
#
Net#increase#in#cash#and#cash#equivalent#
Cash#and#cash#equivalent#at#beginning#of#
period #
Cash#and#cash#equivalent#at#end#of#period#
#
89# #
#
143# #
#
232# #
!
#
PPE #
Beginning#balance
Ending#balance #
Loss#on#property#
re valuation #
Tigret #
Plant #
Depreciation #
Sale#of#land #
CF #
Beginning#balance #
0# #
#
#
254# #
(54) #
(327)
#
Ending#balance #
Share # of#profit#of#assoc #
CF #
6# #
(48) #
(7)
#
15# #
#
4# #
#
(27)
#
Inventories # #
Beginning#balance #
Ending#balance #
CF #
128# #
(105) #
(10)
#
23# #
(98) #
Long # W term#borrowings #
#
#
Goodwill #
Beginning#balance
Ending#balance #
Tigret #
Impairment #
#
Beginning#balance #
#
71# #
#
#
68# #
(48) #
# 11.50# #
Ending#balance #
CF #
(67) #
4# #
# 31.50# #
#Long W term#provisions#
pension #
#
#
Investment#in#associates #
#
Beginning#balance #
#
22# #
#

Davisdadon’s! Revision!Group!Sessions!for!Exams!in!June!2011!

ACCA#Paper#P2# – # Corporate#Reporting#

Past#Paper#December#2010! Ending#balance # Losses#on#benefit#plan # Current#service#cost # Vested#current#cost #
Past#Paper#December#2010!
Ending#balance #
Losses#on#benefit#plan #
Current#service#cost #
Vested#current#cost #
Expected#return #
Paid#into#contribution #
(25 ) #
6# #
10# #
2# #
(8) #
Derecognize#AFS #
(4) #
Tax #
1# #
CF #
(5) #
#
Trade#receivables #
Beginning#balance #
End ing#balance #
#
7# #
#
113# #
(62) #
Investment#property # #
#
Tigret #
5# #
Beginning#balance
Ending#balance #
Disposal #
Gain #
CF #
#
#
6# #
CF #
56# #
(8)
#
# (0.50)
#
# 1.50# #
#
Tax #
Beg.#DT #
Ending#DT #
Beg.#CT #
#
#
(1) #
Intangible#assets # #
Beginning#balance
Ending#balance #
Tigret #
Amortization #
CF #
#
Ending#CT #
#
#
72# #
(85) #
18# #
41# #
(35) #
30# #
(33) #
11# #
1# #
# 1.50# #
(17) #
Income#tax#expense #
AFS #
Add#DT #
CF #
# 16.50# #
(12) #
#
Trade#payables #
#
Available#for#sale # #
Beginning#balance
Ending#balance #
Gain#on#AFS #
#
Beginning#balance #
#
55# #
#
#
90# #
(144) #
(94) #
Ending#balance #
CF #
(89) #
2# #
Fair#value#of#consideration #
60%#
35# #
Fair#value#of#NCI#
40%#
20# #
Fair#value#of#the#business#
100%#
55# #
Fair#value#of#the#net#assets#
(45)#
#
Deferred#tax#(45W 40)#x#30% #
#
1.50##
#
Goodwill#
# 11.50##
!
#

Notes-for-future-reference:-

Workings)are)not)needed)for)items)under)the)statement ) of)changes)in)equity)

Davisdadon’s! Revision!Group!Sessions!for!Exams!in!June!2011!