Exam Guide Dec 2014 (P2 Corporate Reporting) by Joe Fang

Question 1

Topics
(a) Consolidated Financial Statements (Do not Spot!)
Group cash flows
Vertical/Mixed group
Foreign operation (Closing Rate method)
Piecemeal acquisition
Disposal
Accounting standards integrated in Consolidated Financial Statements (At
least 3 from below):
IAS 16 Property, Plant and Equipment
IAS 38 Intangible Assets
IAS 19 Employee Benefit
IAS 21 The Effects of Changes in Foreign Exchange Rates
IAS 28 Investments in Associates and Joint Ventures
IAS 37 Provisions, Contingent Liabilities and Assets
IFRS 9 Financial Instruments
IFRS 2 Share Based Payments
(b)
-

Theoretical element on group context

IFRS 8 Operating Segment
IFRS 9 Financial Instruments
IFRS 3 Business Combinations
IFRS 11 Joint Venture Arrangement
IFRS 10 Consolidated Financial Statements
IFRS 13 Fair Value Measurement

(c) Ethics
Explain the difference between being ethical and mere compliance of the
Accounting Standards
The case mentioned contains element of Creative accounting to
mislead financial user
Student need to address the unethical behavior or accounting treatment
proposed by the Director
Recommend a proposed solution
Question 2
(1 or 2 Accounting standard(s) )

Question 3
(At lease 4 Accounting Standards)

Question 4

At least 6 of the followings:

IAS 8 Accounting Policies, Changes in Estimates and Errors
IAS 12 Taxation
IAS 16 Property, Plant and Equipment
IAS 17 Lease
IAS 18 Revenue
IAS 19 Employee Benefit
IAS 24 Related Party Transactions
IAS 28 Investments in Associates and Joint Ventures
IAS 36 Impairment of Assets
IAS 37 Provisions, Contingent Liabilities and Assets
IAS 38 Intangible Assets
IFRS 8 Operating Segment
IFRS 9 Financial Instruments
IFRS 11 Joint Venture Arrangement
IFRS 10 Consolidated Financial Statements
IAS 41 Agriculture
IFRS 9 Draft Chapter 6 Hedge Accounting
ED Revenue from contracts with customers
ED Improvements to IFRSs
ED/2012/3 Equity Method: Share of other net asset changes
ED/2012/6 Sale or contribution of assets between an investor and its

associate or joint venture

ED2013/3 Financial Instruments: Expected credit losses
ED/2012/7 Acquisition of an interest in a joint operation
DP A review of the Conceptual Framework for Financial Reporting