interim

1. A. timeliness over reliavility, we use estimates rather than actual physical count
and also interim reporting is
2. B semi, quarter, monthly
3. D, ias 34 and ias 1 they have their own conformity in IFRS, non compliance in
IAS34 will not affect compliance in ias 1
4. B Rent cost is accrued and can be allocated per period
5. B
6. B, it should be most recent annual report and current interim reporting period,
other FS will be compared on the same interim period on the last period.
7. B at a minimum- condesed set
8. C revenues received seasonally shall be disclosed and recognized as earned.
9. C, interim is inteded to give an updates on the fiannacial performanaces and
happenings in entity
10. A, loss and gains are recognized in the interim period where it is incurred and
earned. subject to disclosure
11. D, change in acctng policy need to adjust and apply the restrospectively and
ajustments at the beg of the first quarter in the earliest comparative prior period,
balikan yun previusly period but the adjustmenst is restated in the earlieast
comparative period onj the retained earnings.
12. C
13. 75,000, estiamtes but if this changes then apply prospectively
14. 1st 67500
2nd 667500
3rd 67500
4th 67500
advertising, if walang nakaindicate na year and month benefited then imediate
recognized the advertsing cost, if meron months and year coveragre then allocate,
if may word na "evenly", then allocate, unevenly-emediate recognized cost
15. based on sales- (S 100%-GP 20% = 80% cogs ratio on sale) multiply by sales
based on cost -(cogs 100%+gp 20% = 120% Cogs Ratio) Divide by sales
58000,30000,130000
16. 1050,000
17. 0 no loss should be recognized in third quarter, loss are recognized in second
period
18. 9M ad cost 2m + bonus 7M
19. interim lcnrv, 100k units x 12 = 1200000, loss on inventory is 200k

-at year end hm is inventory in year end?

it sholu be 100k units x P14 actual cost
= 1400000, loss oj inventory write down no loss because there is recovery and the
recovery is being reversed on the previous period
20. 275000