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    1K views18 pages

    SBR Kit 2023

    Uploaded by

    Myo Naing
    ACCA

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    fey §=6Practice & Revision Kit Strategic Business Reporting- ~—__ International & UK (SBR - INT & UK) ACCA Strategic Professional Strategic Business Reporting (SBR) Practice & Revision Kit For exams in September 2023, December 2023, March 2024 and June 2024 @ spp Frith alton Moreh 2029, IsaN97e 095s one2 ‘91980 97810988 0120 5 Bich bry Catologuingn-Pubiation Date ‘Acotalogue record for his book i evaiable from the Bish Library Pubihed oy BPP Leong Media Led 8° Hoven, lene ace 162-1 Usbridge Roos London Wie BAA Ieomingradio bpp-com Printed in the United Kingdom ‘Your leorring materials, published by BPP Learning edi La, ae ornted an paper obtoned tom Trocedble,austoinable sources ‘Al our rights reserved. No port ofthis publeaion may be reproduces sere! narrate sem ot Lorsited, i.any form ox by ory meas eectoic, ‘mochoriea photocopying recrsing acters, without tho prior witonaermson of BPP Leoming Meso te ‘The contr ofthis ook are intended as a guide and not profesirol advice although every effort hos Boer ‘correct ot the te of going to press, BPP Leoring Neate mates no waranty that du formation ns book ls occurate or complete ond accept no ity fr ‘ny lous or damage sued i any person oeting or ‘ofcning fom acting os es ofthe metro ths book Weare grote tothe Aasciatin of Chartered (Ceri Actountants for permission to reproduce post ‘romination questions. The suggested solos inthe proce anewer bank have bean prepored by BPP [mning Meda Li, unless otherwise totes BPP Leorning Mads gots to the ASB for permission to raprocuce aerator FS" Kocouming Stondards,IAS® Standards, IC ond FRI. ‘his publcotion contains copyright © motel an trademarks of he FS Foundation rights ‘eserves under loans from tho FRE Foundation? Reproduction nd userghts oe sticty Fit For more information about the IFRS Foundation and rights to ue te mtavil pase it moe FS Disclaimer: To the extent permted by applica law {he Board ord! the PRS Foundation expres clams allatty howsoover tieng from ths pubiotion ‘ny tronsiaton thereof whether in contoc, tor or ‘thor Grcluing, but nt inte oily for ony negligee oct or omission) tony person inrespect of ‘ny claims or losses of any nature including dec, indict, ietdental or consequentialist pnitve domoges, penalties o cost BPP Looming Media Lid 08 | note about copyright Decr Ctomer ‘What dee the hte © mean and why dows matter? Your morket-eoding BPP books, course mata and learning moter de rot write ond upacts thomelies People write them: thrown behalf a2 employeos of on exganation that ivoasin tis fctvty, Copyright lw protects ther anode does 9 by erating ights over the use ofthe content Breach of copyrights fom of theft wal as being a cininal offence in some jracitons, potentially seriou brooch of profesional ethics ‘wath current technology, things might seem o bithary bet, bosclly without the exprnsparmision of 2 Lecrring Medi + Photzcopuing our rates iso brch of eopyight + ining ou digital meterosin order to share ham ‘thor forsard them too third party ora them in ‘oy woy other tho in connection wth your BPP Sutis eo beeoon a copra Yeu con, ofcourse, 2 your book, nthe form in which {jou hws baught hem “once you hae rchod ah thom: thi flr to your fellow sudonts? Wo update ‘ora reason) Pease nota the o-product ae sel ona ‘Sg uner Keane baa ve do hot supply urock” ote to people whe have bought them eecond hand {ind whe obout outside the UK? BPP Lecrring Medio stings to make our mates avalcble at ees Students ean offer by eal printing rangement, pricng policies ond portnerhipa ach ore ary Indulge criminal actvty by golly phtccopying ‘ur material supporting ergansations that it they aot legally and unethical inane area San you realy rut then? ‘Copyright © IFRS Feundetion Al rights rored, Roproduction ord uso rghts re strict mtd. No pert ofthis publloaton may be Uorslate, reprinted er reproduced o utlse ia any form ater in whole or pater by any electors, mechonialor other mons ow known or heteater invented, nctuding photocopying ard recording orn ty information storage an teva ystry wheat Prior permission n wring fom the IFRS Feundrion, Eomoot she FS Fount or urna deta ‘The Foundotion hos toss more registered aro the word (rode Mor) nstuding Se, SBE, RICE, TFBS the IFRS® logo, TFRS fo SMES, IFRS for SMES logo, the Hexagon Deve ntamatonal Financial Reporting Stondords, IES ana ‘SIC Further detail ofthe Foundation’ Trade More re ‘wclable fom the censor on requ. Contents Finding questions ‘Question index Topic index The Exam Format of the exam Helping you with your revision Essential sill reas Specific SBR skits Questions and answers Questions Answers Exam Proctice Mock exam 1 Questions Anewers ‘Mock exam 2 (Specimen exam 1) Questions. Answers ‘Mock exam 3 (March/June 2022 amended) Questions Answers ‘Mock exam 4 (Septembor/December 2022 amended) Questions Answers 105 303 88 307 357 73 383 Question index ‘Tho questions in section 1 ore preparation questions to help consolidate your knowledge bofore {you move onto the exam-standard questions in section 2. The questions in section? are grouped ‘ocording to the structure ofthe exam. Section AA of the exam wil contain two questions, the first '9n groups and the second on ethical and reporting issues. Section B of the exom wil contain two 25-mark questions which could cover any area of the syllabus. We have categorised Section 8 {questions into three general groups inthe question index: developments in financial reporting, {questions containing analyse and financial reporting sues, (Questions which require consideration of en issue from the perspective of on investor or other stokehokder ore markad below with an osterik *. Questions with a date next tothe tile are based on past exam questions wich have been Updated for changes inthe syllabus or accounting standards, a: appropriat oa Poge number (mins) | Questions rome Sed — EE — a 3 Defined benefit plan 10 20 + 106 oe Sees oe ete foto se eee vs soe peo —— eos pee 9 Foreign operation 2 We 10 320 Se os a hacer ace es eos pete ee ee Sa Se 117 Moyes (Dee 2018 amended) 30 # (88 coats sees 19 Agency Co (Gop/Dee 2021) 20 ry 9 160 (20 | Bismuth Co (Mor/Jun 2021) 20 9 40, 162 z Sot Bhs Reporting 8°) ©ser Time aes Marks | allocation Pesstresur = ee bomeccteo 8) Sees nos socnannn a a ee Showman ee ——————— pecan a a a EE —E ae Sees ee a = epee es aoe foe oe Sonos eee | ae Seco eaumvana ec Shee aoe ape a ee © Opera eet eo 2 |e | | a Tooisemisonss aoe ef CET ee woe nan ee ee wince aay a soonest ne Ce ee ee sienantmanemaa [= [ow ef ee wenewiemeeny pa toe pe uescaemeceny [sea ee vin Marks Time eres Page number oc 1? Jane (ne 203 aman) 2) oe) |e 50 Yorn un 201 onended o | | am | 5 Peston (Bac 207 omer) = | | | 0 2 tpn (Doe 2005 omended) 2 | | es) ase 58 Eres (orn 2016 mended) ee) Being fs es os | w |e | 5 Eve (ep/Dxe 201 arenes) = | eae S6Gosnowe Sep/Dee 2016 amended) | a | 7 | 90 | ats £7 Cao Co (Owe 2007 are = |) a | ew 8 Gascon orn 207 ard) = [|| =~ 69 Legh one 207 amended) a | | «| em 6 Metron arn 201 endo) | | | a 61 thon Ox 20° ered) a | | % | 2 62 Witt e200 ands) afl | «© | 2% 2 Been esopiton a | | | awe Dolo Co [| wo) ame a Mock rom 2) 308 Mock exom 2 Specimen exam) wt | sat Mock exom 3 (MoreNune 2088 amended) oo) ew Mock exam’ (Sepember/Decenbe 2022 cme) wes ML Suctegie Business Reporting (BR) Topic index LUstad below are the key SER syllabus topics and the numbers ofthe questions in thia Kit covering ‘those topics. Wo have aa included a reference tothe relevant Chapter ofthe BPP SBR Workbook, ‘tho companion to the BPP SBR Practice and Revision Kit, in case you wish to revise the information fn the topie you have covered. Hf you need ta concentrate your practice and revision an certain topics orf you want to attempt cll vliable questions that refer toa particular subject, you wil ind this index useful Aecountingpotcies (AS 8) 46 2 Mock exam t: ‘emotive perermance 33,36, 40,99 8 rmeosures (OEMs) Meck ram 2:04 ‘esocotes 12,18, 33,40, 59 1 Mock xem 2:01 Businss combinations (FASS) 11-18 8 Meck exom 1:01 Meck xem 2:01.02 Meck exom 3:91 Meck xem 01 Conceptual Framework 1, 25,28, 92,24, 09,4,49,52 | Mack som: Mock axom 2:0 Consolidated statement of ash | 12.13.17 0 tows Dofored on (AS 2) 12,20, 25, 98,82, 65,61 7 Mock rom 2:01 Mock axom 3:08 Dispos of imestmerts 12,1516, 18 8 Mock sxam 2:01 ties 9-25 2 Meck exams: 02 Evens ofterthe reporting pated | 13, 55.55 6 co) Employee benefis (including | 13,16, 25,27, 28.31.54 5 pension) Meck exam 2:01 Foi velo moosuromant (FRS19) | 26, 1, 49, 50,58, 5, 60 4 Mock axon 1: Mock axom 2:03, Mock axom 3:4 Francia instruments (FRS9) | 12.13.14, 20,23, 26,28,29,97, | 8 29,8, 8,86, 57, 58,60, Mock trom 2:01 Mock ono 4:4 @ spr Intron vi Foreign tentoctions ard antes | 14, 18, 19 1% sz) {FS for SMEs Accounting 1,42 © {FS Practise Statement 1 24, 96,87 8 Moragement Conmertory 1FR6 Practice Statement 2 6.97 98,49, 52 ~ Moking Moterosty Judements | dock exam 08, O% Impairment (AS 26) 20,30, 4, 44 5 ‘ Mock am 3:08 Intongibieossets (AS 3) W92,3EMH2,48, 48,58 Mock am 3:2 Intoprtod porting 29.07 8 Investment property (US 40) | 24, 49, 85,61 * Joint omrangements (FBS) | 1, 26,40, 56 6 Mock oam3:01 Mock exam 4 2 Leoses OFRS 16) 24,26, 27,41,42, 45,46, 52,58 | 9 Mock am 3:08 ‘Non-curentostts held forsale | 17, 42, 3, 83,65 % cond discontinued operations ors) Provisions contingent labilties | 21,23, 25,27, 230,51 6 ondcontngent ents Mock xam 3:9 alot porty transactions (aS | 21,47, 48, 53 2 a Mock am 2:02 venue recogniton FASS) | 2, 24,46, 26,36, 41, 45,58 | 3 Mock axam 3:8, Segnent reporting FRS8) | 94,38 8 Mock axa f: 98 Shore-bosed payment 0FRS2) | 17.97.52,5 0 Mack exam #91 ‘Step equtions (FRS 10) 3 2 Mock am t:91 Mock seam 2:01 ‘Sustonobily 27,30,38 18,20, ‘il Svategic Business Reporting (SER) The Exam Computer-based exams ‘Stategic Professional exams are all computer-based exams (CEE). ACCA CBE practice platform [ACCA hos launched a free on-demand resource, the ACCA CBE practice platform, detigned to tmitror the live CBE experience. You can aceess the ACCA CRE proctice platform ve the Study Support Resources section ofthe ACCA website: navigate tothe CBE question practice section ‘ond login with your myACCA cradentils Practising os many excm-style questions os possible in the ACCA CBE practice platform willbe key to possing the excm. Important note for UK students who are sitting the UK variant of Strategic Business Reporting If you ore sitting the UK variant ofthe Strotegic Business Reporting exam you wil be studying under Internationa standards, but Botwoon 15 ond 20 maria willbe avaliable fr comparisons between International ond UK GAAP. ‘This Proctice & Revision Kits based on IFRS Accounting Standards only. An online supplement covering the addtional UK issues and providing addtional lstrotions and examples is avilable fon the Exam Success Site: for details of how to eccess this, see the inside cover ef this Ki. Approach to examining the syllabus ‘The Strategic Business Reporting sllobus ie assessed by @ @hour and 15 minute exam. The pose mark i 50%. All questions in the exam ore compulsory. At the revision stage, we advise students to ravist the following main yllabus requirements eo thot {you have a good understanding of the overall objectives of this exam. Remember, ACCA ‘examining team expect you to be abe to: + Demonstrate professional competences within the business reporting environment. You will be examined on concepts, theories, ond principles, ond on your billy te question andl comment ‘on proposed accounting treatments + Relate professional issues to relevant concepts and practical situations. The evaluation of alternative occounting practices ond the identification and prioritisation of seuss wil be © key element of the exam, + Exorcto professional and ethical judgement, and integrate technical knowledge whon Codaressing business reporting issues in ¢ business content. + Adopt ether @ stakeholder or an extemal focus in answering questions and demonstrate personal skis such os problam solving, dealing with information ond decision making, You wal asa have to demonstrate eammunication skills cppropriate to the scenario. Demonstrate specie profesional knowledge appropriate to the preparation and presentation cof consolidated and other financial statements form ocoaunting data, to conform mith relevant aocounting standards. Here, you may be required to interpret financial statements for different stokeholders and/or commuricate the impact of changes in accounting regulation on financial reporting ‘The ACCA wabsite contains © useful explanation of the verbs used in eam questions. ‘See: ‘What isthe examiner esking?" available at wiww.cccaglobal.com/ukler/student/so/study skileAquestions htm Qsre siti Format of the exam Section A Two compulsory soenario-based questions, totaling 5 60 marks (inch 2 ‘Question 1 (30 marks): professional ‘ocks) + Based on the Financial statements of group entities, oF ‘extracts thereof (sylabus area D) + Also likly to roqure consideration of some financial reporting sues (eylabus area C) + Discussion and explanation of numerical aspects wil be required Includes between 10 and ths marks for the adjustment of consolidated financial statement, or extract thereof, using a pre-populated spreadsheot® ‘Question 220 marks): + Consideration ofthe roporting implications end the ethical implications of specific events in a contemporary scenario ‘Two professional marks will be awarded in question 2. ‘Section A. Further guidance wil be given in the questions Clorfying wht these professional morks willbe awarded for. SectionB Two compulsory 25-mark questions 50 ‘Questions: Coot. 2 : ct professional May be scenario, case-study, or essay based press + Will contain both discursive and computational elements + Could deo! with any aspect ofthe sylobus + Will ays include ether o flor part question that requires the approisal of financial andor non financial information from ether the preporer’s or another stokholder's perspective “Two professional marks will be awarded in question Further quidance will be given in the questions clarifying ‘what these professional marks will be awarded for * In Question 1, you will be provided with a word document and « pre-populated spreadshest ‘only, There wil be no blank spreadsheet. & space for workings wil be provided on the pre- Populated spreadsheet. The financial statements in the pre-populated spreadsheet wll be replicated in ane ofthe exhibits 2o if you accidentally deleta some of the number in the spreadsheet, you can copy them from the exhib Remote invigilated exams In certain geographical areas it may be possible for you to take your exam remotely. This option, ‘which s subject to strict conditions, can offer increased flexility end convenience under certain Circumstances. Further guidance, ining the detailed requirements and conditions for taking ‘the exom by this method, is contained on ACOH website ot eto occagiobol com/anvenistudent/exom-entny-ond-administration/about-our- ‘exams/remate-exams/remote-seasion-2xoms htm x Srotegc snes Reporting SER) Qe Analysis of past exams The table below shows, forthe last seven exams released by ACCA, when each element ofthe syllabus hos boon examined and the section in which the elament was examined. We have also Inoluded a reference tothe relovant Chopter of the SPP SER Workbook, the companicn to the BPP ‘SBR Practice & Revision Kt, in ease you need to revise the information on the topie covered. Since September 2015, ACCA have generally been issuing two sample exoms each year, one after the Decomibar exam seesion, the othor after the June siting. These sxams wil be compli from questions selected from the two preceding sessions, eg in December 2022 the sample questions ‘were compiled from the September 2022 and December 2022 exams. , A Fl = | 7 The financial epertng 1 [Regpleciomaergimons [AS [4 Reporting the finch pevtormance cFaange of °S_| Non-curent onsets es AS ke kes 8 | Fons istramens ae as 5 | Employee beat ss as [a8 S| Poses contngenie one * e 8 @ ‘tones far he reporting prod 10 | Share-toned payment * 4.8 |For wate moosaament . e 7 | Groupaccominginusng = AB AA [ABA | soci ona 5 ABA ore letreduction a ; 18 Fomign vaneaxtonzond * a rag tree ® 1 | Anokseondinupetatonc 8 8 BBB ‘petnurinan of partsronce “Tro impactf chong ond Puan chooes ccna oon ‘reporting ' Important ‘The table above gives a brood ideo of how frequently mejor topics in the syllabus are examined. should net be used to question spot and predict for example, that 0 cartoin top wil ot be texomined because thas been examined in the lost two sittings. The examiner's reports indicate thot they are wel aware that some students try to question spot. The examining team avoid predictoblepotterrs and mou, for example, examine the some topic tw sittings in a rows, Portculriy f there has boon a recent change in lagisation. Equal, ust bacauee o topic hos not been examined fora longtime, this doesnot necessarily mean it willbe examined inthe next exam! Syllabus and Study Guide ‘Te complete SBR syllabus and study guide can be found by visting the SBR study support recources section of the ACCA website, Examinable documents: The following dacumonts are examinablo for sittings from September 2023 to June 2024. Knowledge of new examinable regulations ised by 3I August wil be required in exomination seasione being held in the folowing exam year. Documents may be examinable even if the tfective cote is inthe future, ‘Te syllabus and study guide offers more detailed guidance on the depth and level at which the ‘examinable documents will be excmined. Gennes ast Presentation of Financial Statements nse Inwonteries 0s7 Statement of Cash Flows ase sesounting Polies, Changes in Moccunting Estimates and Erors 1as 10 Events After the Reporting Period as 16 Property, Plant and Equipment 10s Employee Benefits Seni asses aoc Oper vob Ee San | erase rio bao 2 2 AS 28 T Irvostments in Associates ond Joint Ventures 2 —— AS 34 Interim Financial Reporting an — [oe 1asa7 | Provisions, Contingent Liabiities and Contingent Assets 2 = a = ee ia; — [poor = eae ee = IFRS | Financial instruments ee 2 fs eases IFRS 15 | Revenue from Contracts with Customers = IFRS for SMEs IFRS for Smoll and Medium-sized Entities a oe SS ser vest a IFRS Practice | Making Materioty Judgements ‘Statement 2 Important note Many of these IFRS Accounting Standards are clo teted in Financial Reporting FR). The ‘technical knonlecge required for SBR is an extension of thot required far FR. The SBR examining team have commented thot mony student responses do not demonstrate © good technical FR knowledge. However, a good understanding of Fis vital to pass your SR exam and you need to be able fo demonstrate ft. Zefore you begin your studies for SBR, be aure that you have revised al FR topies. alesse snes epatng (88) @ spp Helping you with your revision BPP Learning Media — ACCA Approved Content Provider As an ACCA Approved Content Provider, BPP Learning Media gives you the apportunity to use revision materials reviewad by the ACCA examining team. By incorporating the ACA examining team's comments and suggestions regarding the depth and breadth f sllobus coveroge, the PP Learning Media Practice & Revision Ki provides excellent, ACCA-approved support for your Thase materils re reviewed by the ACCA examining team. The objective of the review i to ‘enaure that the material properly covers the aylabus and study guide outcomes, used bythe ‘examining team in setting the exams, inthe appropriate breodth and depth, The review does nat concurs that every eventuality, combination or application of examrinable topics fs addressed by ‘the ACCA Approved Content, Nor devs the review comprise o detailed technical check af the ‘content as the pproved Content Provider has its own quality assurance processes in place in thi respect. BPP Learning Media do everything possible to ensure the material is eccurate ond up to date when sending to print. Inthe event that any erors ore found after the pint date, they are Uploaded othe fllowing website: wiww.bpp.com/lecrningmedia/Errato. The structure of this Practice & Revision Kit ‘This Proctice & Revision Kits dived into three sections. The questions in Section 1 ore preparation questions to help develop your knowledge. Section 2 contains exom-standarc questions which ore ‘of appropriate compleity and format t9 mimic the style ofthe final exam. Section 3 contains four ‘mocic exams. You should attempt all four mack exams, preferably under exam conditions, 03 this will provide excellent preparation before you take the real exam, Question practice ‘Question practice isthe most important thing todo if you want tobe successful inthe SBR exam. Many ofthe most up-to-date exam questions are nthe Kit ractice doing them under timed cconeitions, then go through the answers and go back tothe Workbook for any topic you are really hoving trouble wth, Come back toa question a wed later and ry agoin you wl be Surprised at how much better you are getting. Be ruthless with yourself ot this stage - you have to

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