Which of the following should be disclosed in the note to the financial statements for inventories?1 The date the inventories were purchased or manufactured and/or how long they have been held as inventories2 The amount of inventories carried at net realisable value3 The accounting policies adopted in measuring inventories4 The useful life of the inventories
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2 .At what amount should an asset classified as 'held for sale' be measured?
A Lower of carrying amount and fair value less costs of disposal B Lower of carrying amount and value in use C Higher of value in use and fair value less costs of disposal D Higher of carrying amount and recoverable amount
3 .Which one of the following events taking place after the year end but before the financial statements were authorised for issue would require adjustment in accordance with IAS 10 Events after the Reporting Period?
A Three lines of inventory held at the year end were destroyed by flooding in the warehouse. B The directors announced a major restructuring. C Two lines of inventory held at the year end were discovered to have faults rendering them unsaleable. D The value of the company's investments fell sharply....
4 .Which of the following best describes the purpose of disclosure notes in the financial statements?
A To provide more detail for the users of accounts about the information in the main financial statements. B To allow companies to present their financial results in a more favourable way by only disclosing some things in the notes and not on the main financial statements. C To give all the detail o...
5 .For which class or classes of assets should a company disclose in the notes to the financial statements a reconciliation of the opening carrying amount to the closing carrying amount, showing the movements in the period?1 Cash2 Intangible assets3 Tangible non-current assets4 Trade receivables
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7 .Which of the following should be disclosed in the note to the financial statements for intangible assets?1 The method of amortisation used2 A reconciliation of the carrying amount at the beginning and end of the period3 The useful life of the assets4 The net realisable value of any deferred development costs capitalised
A 1, 2 and 3 only B 2 and 3 only C 2, 3 and 4 only D 2 only
8 .On 1 October 2013, Hoy had $2·5 million of equity shares of 50 cents each in issue.No new shares were issued during the year ended 30 September 2014, but on that date there were outstanding share options to purchase 2 million equity shares at $1.20 each. The average market value of Hoy’s equity shares during the year ended 30 September 2014 was $3 per share.Hoy’s profit after tax for the year ended 30 September 2014 was $1,550,000.In accordance with IAS 33 Earnings per Share, what is Hoy’s diluted earnings per share for the year ended 30 September 2014?
A 25.0 cents B 22.1 cents C 31.0 cents D 41.9 cents
9 .Barwell had 10 million ordinary shares in issue throughout the year ended 30 June 20X3. On 1 July 20X2 it had issued $2 million of 6% convertible loan stock, each $5 of loan stock convertible into 4 ordinary shares on 1 July 20X6 at the option of the holder.Barwell had profit after tax for the year ended 30 June 20X3 of $1,850,000. It pays tax on profits at 30%.What was diluted EPS for the year?
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