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Publishing

2013

ACCA F7 (INT)
Financial Reporting

Study Text

emilewoolfpublishing.com

 

ACCA

Paper

F7 (INT)

Financial Reporting (International)

Welcome to Emile Woolf‘s study text for Paper F7 Financial Reporting (International) which is: Written by tutors Comprehensive but concise In simple English Used around the world by Emile Woolf Colleges including China, Russia and the UK

Publishing

Sixth edition published by   Emile Woolf Publishing Limited  Crowthorne Enterprise Centre, Crowthorne Business Estate, Old Wokingham Road,   Crowthorne, Berkshire   RG45 6AW  Email: info@ewiglobal.com  www.emilewoolfpublishing.com       © Emile Woolf Publishing Limited, January 2013    All rights reserved. No part of this publication may be reproduced, stored in a retrieval  system, or transmitted, in any form or by any means, electronic, mechanical, photocopying,  recording, scanning or otherwise, without the prior permission in writing of Emile Woolf  Publishing Limited, or as expressly permitted by law, or under the terms agreed with the  appropriate reprographics rights organisation.    You must not circulate this book in any other binding or cover and you must impose  the same condition on any acquirer.      Notice  Emile Woolf Publishing Limited has made every effort to ensure that at the time of  writing the contents of this study text are accurate, but neither Emile Woolf Publishing  Limited nor its directors or employees shall be under any liability whatsoever for any  inaccurate or misleading information this work could contain.      British Library Cataloguing in Publications Data  A catalogue record for this book is available from the British Library.      ISBN: 978‐1‐84843‐288‐8      Printed and bound in Great Britain        Acknowledgements  The syllabus and study guide are reproduced by kind permission of the Association of  Chartered Certified Accountants.         

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© Emile Woolf Publishing Limited

Paper F7 (INT) Financial Reporting

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Contents
Page Syllabus and study guide Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6: Chapter 7: Chapter 8: Chapter 9: Chapter 10: Chapter 11: Chapter 12: Chapter 13: Chapter 14: Chapter 15: Chapter 16: Chapter 17: Chapter 18: Chapter 19: Chapter 20: Chapter 21: The conceptual framework Recognition and measurement Accounting for the substance of transactions The regulatory framework The financial statements of a single company Reporting financial performance Tangible non-current assets Intangible assets Impairment of assets Inventory Financial assets and financial liabilities Leases Provisions, contingent liabilities and contingent assets Taxation Reporting of non-group financial statements Earnings per share Statements of cash flows Consolidated accounts Consolidated accounts: intra-group adjustments Associates Analysis and interpretation of financial statements v 1 19 43 53 65 87 105 135 147 157 171 195 213 235 257 277 303 343 393 421 435

© Emile Woolf Publishing Limited

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Practice questions Answers to practice questions Index

463 493 545

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© Emile Woolf Publishing Limited

Paper F7 (INT) Financial Reporting

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Syllabus and study guide
     

Aim
To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

Main capabilities
On successful completion of this paper candidates should be able to: A B C D E Discuss and apply a conceptual framework for financial reporting Discuss a regulatory framework for financial reporting Prepare and present financial statements which conform with International accounting standards Account for business combinations in accordance with International accounting standards Analyse and interpret financial statements

© Emile Woolf Publishing Limited

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