Every objective and theory question in this paper, and the topic notes to revise each one.
| No. | Section | Marks | Covers |
|---|---|---|---|
| Q1 | 10 | Asks for short notes on five concepts worth 2 marks each: business entity, going concern, matching, consistency, and ... | |
| Q2 | 20 | From the previous syllabus. A trial balance difference placed in a suspense account, with eight errors. Asks for the ... | |
| Q3 | 5 | From the previous syllabus. Asks for five differences between the cash book and the petty cash book. | |
| Q4 | 6 | Asks you to state which of thirteen items are capital expenditure for the statement of financial position, including ... | |
| Q5 | From the previous syllabus. A partnership shares profit in a ratio after salaries to each partner. Asks for the state... | ||
| Q6 | 20 | From the previous syllabus. Asks you to define operating, investing and financing cash flows with two examples each (... |
Asks which item is not part of a complete set of financial statements under IFRS.
Asks which item is not an attribute of good accounting information.
From the previous syllabus. Asks which of five groups is not an external user of accounting information.
From the previous syllabus. Asks for the term for a present obligation arising from past events whose settlement is expected to result in an outflow of resources. The answer is a liability, which is the base definition for a provision.
Asks to which account the bad debts account is closed in preparing the statements.
From the previous syllabus. Both ask for the effect on profit of the sale of an item of property, plant and equipment, with depreciation to the point of sale.
From the previous syllabus. Ask for the source document for the returns inward book and for the document the buyer receives when damaged goods are returned.
From the previous syllabus. Asks the order of the three activity groups, which item may not be classified as investing, and which information a statement of cash flows cannot reveal.
From the previous syllabus. Both ask for the journal entries or double entry that record depreciation.
Asks for the correct bank balance when the cash book shows an overdraft, a standing order was recorded twice and a dishonoured cheque was debited in the cash book instead of credited.
From the previous syllabus. Asks for the sales from a gross margin of 40%, the profit on a sale at a 20% mark-up, and the gross profit from a profit margin of 5%.
Asks for sales revenue from opening inventory, purchases, closing inventory and a gross margin of 40%.
From the previous syllabus. Gives opening inventory, purchases and closing inventory and a gross margin of 40%, and asks for the sales revenue for the year.
Asks which record is used to determine the arithmetical accuracy of ledger posting.
Asks for short notes on five concepts worth 2 marks each: business entity, going concern, matching, consistency, and materiality and aggregation.
Asks for the IFRS names that replace ten older terms, such as balance sheet, stocks, trade debtors, fixed assets and shareholders’ funds.
From the previous syllabus. A trial balance difference placed in a suspense account, with eight errors. Asks for the correcting journals (12 marks), the suspense account (4 marks) and a statement adjusting net profit (4 marks).
From the previous syllabus. Asks you to prepare the suspense account after correcting eight errors. Parts (a) and (c) belong to the error topic.
From the previous syllabus. Asks for five differences between the cash book and the petty cash book.
From the previous syllabus. Asks you to prepare a two-column cash book, with discount and bank columns, from a month of a trading company’s transactions. Part (a) and part (b)(ii) belong to the petty cash topic.
From the previous syllabus. Asks you to prepare a petty cash book for the month, from a company that maintains a float, with columns for stationery, trade expenses and sundry purchases.
Asks you to state which of thirteen items are capital expenditure for the statement of financial position, including leasehold premises, solicitor’s fees, a computer upgrade, machinery, custom duty and carriage on machinery.
From the previous syllabus. A trader’s cash book shows an overdraft and the bank statement shows a credit balance, with eight discrepancies. Asks for the adjustments in the cash book (8 marks) and a reconciliation of the amended balance with the statement (6 marks).
From the previous syllabus. A partnership shares profit in a ratio after salaries to each partner. Asks for the statement of profit or loss and appropriation, with a new partner admitted during the year on a pro rata time basis, and the partners’ current accounts.
From the previous syllabus. A new partner is admitted during the year on stated terms. Asks for the profit or loss and appropriation account for the year, on a pro rata time basis, and the partners’ current accounts.
From the previous syllabus. Asks you to define operating, investing and financing cash flows with two examples each (9 marks), and to prepare the statement of cash flows showing operating activities by the indirect method, with workings (11 marks).