FIN.

REPORTING - 02
(AUTUMN 2014 TO SPRING
2018)
ICAP PAST PAPERS BANK

MARCH 18, 2018

WWW.GCAOFFICIAL.ORG
gcaconsultants@gmail.com
 INTRODUCTION
The Board of Studies is continually endeavoring to assist the students of Chartered Accountancy to
understand their relevant subjects better and help them to be fully prepared for their examinations.
Hence, providing suggested answers to students for their reference would help them in their future
studies.

These suggested answers are prepared only on the principle of hints to answers rather than detailed
theory and description. These answers are not meant to provide the assessment criteria against the
particular examination questions as the purpose of these suggested answers is only to guide the
students in their future studies for ICAP’s examination. These have been prepared on the basis of
the International Standards and laws applicable at the relevant time. The intention is not to update
these answers with changes in law subsequently.

We are hopeful that the students will use these suggested answers to the best of their ability and
make the maximum use of this material as a study aid. The Institute may, however, not be able to
respond to individual queries from students. Finally, we would encourage all students to freely
provide us with their feedback, as their comments would help us to further improve the
publications.

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 DISCLAIMER
The suggested answers to examination questions have been developed by the Board of Studies of
ICAP based on rules, regulations, theories and practice as applicable on the date of examination,
except as stated otherwise. These answers are not meant to provide the assessment criteria against
the particular examination questions as the purpose of these suggested answers is only to guide the
students in their future studies for ICAP’s examinations, without in any way seeking to suggest a
solution for the present incumbents.

If you are not the intended addresses, you are notified that dissemination, copying, distributing,
commenting or printing of these answers is strictly prohibited.

Further, the Institute shall not be in any way responsible for an answer capable of being solved in
some other way or otherwise of the suggested answer nor would it carry out any correspondence in
this regard.

Although reasonable care has been taken to ensure correctness in the preparation of these answers,
the Board of Studies does not take responsibility for any deviation of views, opinion or answers
suggested by any other person or persons. Similarly, the Council of the Institute of Chartered
Accountants of Pakistan assumes no responsibility for the errors or omissions in the suggested
answers. Nevertheless, if any error or omission is noticed, it should be brought to the notice of the
Chairman Board of Studies for information.

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