CTA 1 FINANCIAL ACCOUNTING AND EXTERNAL REPORTING – 2020 EOY PAPER 1 REQUIRED

QUESTION MARKS TOTAL

MARKS
A. Prepare the Consolidated Statement of Changes in Equity of Sui Generis 43
Group for the year ended 30 June 2020
Please note:
• Your answer must comply with International Financial Reporting
Standards (IFRS).
• Comparative amounts are not required.
• Round off all amount to the nearest ZWL.
Communication: Presentation 2 45
B. Write an email to ICAZ regarding any ethical concerns that may arise as a 9
result of the CFO’s conduct. In your email, also suggest safeguards for the
concerns raised.
Communication: Presentation 1 10
C. Discuss, with reasons, the correct accounting treatment of the contractual 12
arrangement in the separate records of Sui Generis Ltd, Masco Ltd and
Security Ltd in accordance with IFRS 11 Joint Arrangements. 12
D. Provide a discussion on the measurement of the office space in the 8
financial statements of SG for the year 30 June 2020.
• Include journal entries and journal narrations
• Include reasons
Communication: Journal narrations 1 9
E. Write a memorandum to the CFO on how Sui Generis should account for 12
the debentures in its financial statements for the year ended 30 June 2020.
• Ignore presentation and disclosure
Communication: Presentation 1 13
F. Critically evaluate the conclusion made by the CFO in accordance with IFRS 10
in the books of KIM.
Communication: Logical flow 1 11
TOTAL 100

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