Preview

P2 Paper

Good Essays
Open Document
Open Document
2937 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
P2 Paper
Professional Level – Essentials Module

Corporate Reporting (International)
Tuesday 11 December 2012

Time allowed Reading and planning: Writing:

15 minutes 3 hours

This paper is divided into two sections: Section A – This ONE question is compulsory and MUST be attempted Section B – TWO questions ONLY to be attempted Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall.

The Association of Chartered Certified Accountants

Paper P2 (INT)

Section A – THIS ONE question is compulsory and MUST be attempted 1 Minny is a company which operates in the service sector. Minny has business relationships with Bower and Heeny. All three entities are public limited companies. The draft statements of financial position of these entities are as follows at 30 November 2012: Minny $m Assets: Non-current assets Property, plant and equipment Investments in subsidiaries Bower Heeny Investment in Puttin Intangible assets Bower $m Heeny $m

920 730

300

310

320 48 198 –––––– 1,896 –––––– 895 –––––– 2,791 –––––– 920 73 895 –––––– 1,888 –––––– 495 –––––– 408 –––––– 903 –––––– 2,791 –––––– 30 –––––– 650 –––––– 480 –––––– 1,130 –––––– 400 37 442 –––––– 879 –––––– 123 –––––– 128 –––––– 251 –––––– 1,130 –––––– 35 –––– 345 –––– 250 –––– 595 –––– 200 25 139 –––– 364 –––– 93 –––– 138 –––– 231 –––– 595 ––––

Current assets Total assets Equity and liabilities: Share capital Other components of equity Retained earnings Total equity Non-current liabilities Current liabilities Total liabilities Total equity and liabilities

The following information is relevant to the preparation of the group financial statements: 1. On 1 December 2010, Minny acquired 70% of the equity interests of Bower. The purchase consideration comprised cash of $730 million. At

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Exams Essasys

    • 961 Words
    • 4 Pages

    Time allowed  2 hours and 15 minutes Instructions  Answer all questions.  Use black ink or black ball-point pen.  Fill in the boxes at the top of this page.  You must answer the questions in the spaces provided. Do not write outside the box around each page or on blank pages.  Do all rough work in this book. Cross through any work you do not want to be marked.  You must refer to the insert booklet provided.  You must not use a dictionary. Information  The marks for questions are shown in brackets.  The maximum mark for this paper is 80.  There are 40 marks for Section A and 40 marks for Section B.  You are reminded of the need for good English and clear presentation in your answers.  There is one insert inside this question paper. Sources 1, 2 and 3 are printed on the insert.  You will be assessed on the quality of your reading in Section A.  You will be assessed on the quality of your writing in Section B. Advice  Before you start writing read through all six of the questions you have to answer and the three reading sources.  You are advised to spend about one hour on Section A and about one hour on Section B.…

    • 961 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    Assets Liabilities and Owener`s EquityCurrent assets $2,170 Current liabilities $1350Net fixed assets $9,300 Long-term debt $3980 Shareholders` equity $6140Total assets $11470 Total liabilities and shareholders` equity $11470…

    • 734 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Final Exam Paper

    • 3413 Words
    • 14 Pages

    (This Examination Paper Consists of 14 Printed Pages Including A Cover Page With 3 parts)…

    • 3413 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Fin515 Project 2

    • 608 Words
    • 3 Pages

    Income Statements for the Year Ending December 31 (Millions of Dollars Except for Per Share Data) Actual 2010 Projected 2011 500.00 $ 530.00 360.00 381.60 37.50 39.80 397.50 $ 421.40 102.50 $ 108.60 13.90 16.00 88.60 $ 92.60 $35.44 53.16 6.00 47.16 $ $ $37.04 55.56 7.40 48.16 29.70 18.46 10 2.97…

    • 608 Words
    • 3 Pages
    Powerful Essays
  • Powerful Essays

    IAS Plus: Deloitte. (2011). Summary of preface to International Financial reporting Standards. Retrieved from http://www.iasplus.com/standard/preface.htm…

    • 1209 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Paper 2

    • 319 Words
    • 2 Pages

    1. Where do you think the problems lie at Nielsen’s? For example, are they primarily with the company’s strategic goals and plans, tactical goals and plans or operational goals and plans? With alignment of goals and plans?…

    • 319 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    General Paper

    • 333 Words
    • 2 Pages

    INSTRUCTIONS TO CANDIDATES Write your name, Centre number and candidate number in the spaces provided on the answer paper/ answer booklet. Answer two questions. Write on one subject from each of two of Sections 1, 2 and 3. Answers should be 500-600 words in length. Write your answers on the separate answer paper provided. If you use more than one sheet of paper, fasten the sheets together. INFORMATION FOR CANDIDATES All questions in this paper carry equal marks.…

    • 333 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Paper 1

    • 594 Words
    • 3 Pages

    In 1991 Jiri Kylian was asked by the Salzburg Festival to create a brand new piece for this year’s show case. He was only given one parameter that he had to follow and all other creative choices were up to him. Since the festival was dedicating this year to Mozart’s 200th anniversary of his death they wanted the piece somehow related to him. Kylian chose two of Mozart’s slow and most famous piano concertos for his twelve dancers to move to and with that “Petite Mort” was derived. His reasoning for choosing these two particular pieces of music were to show that ““This deliberate choice should not be seen as a provocation or thoughtlessness – rather as my way to acknowledge the fact that I am living and working as part of a world where nothing is sacred, where brutality and arbitrariness are commonplace.” He wanted to show one of the two meanings of the phrase petite mort; that of a small death or in its sexual context an orgasm which can really both be used in the sexual context. The six men and six women dancers all wore nude corset type tops and nude underwear taking away gender roles and putting them on the same playing field. Even though they are all dressed basically the same the movement quality says otherwise.…

    • 594 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Constitutional Law

    • 682 Words
    • 3 Pages

    Answer ALL questions in PART A and PART C, and any TWO (2) questions in PART B in…

    • 682 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Abhi's

    • 428 Words
    • 2 Pages

    15 minutes time has been allotted to read this question paper. The question paper will be distributed at 10.15 a.m. From 10.15 a.m. to 10.30 a.m., the students will read the question paper only and will not write any answer on the answer-book during this period.…

    • 428 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    I evaluated four company’s balance sheet. I will write a brief commentary on each company’s balance sheet and income statement. The companies are Bombay Dyeing and Manufacturing, Dean Foods, Huffman Trucking, and Hallmark Financial Services.…

    • 334 Words
    • 2 Pages
    Powerful Essays
  • Satisfactory Essays

    Paper 2

    • 288 Words
    • 2 Pages

    Certain seasons can represent how Mikage feels, for summer Mikage feels happy and motivated whereas in winter Mikage feels pain and unhappiness.…

    • 288 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    ACCA P2 BPP

    • 25118 Words
    • 225 Pages

    Until now you have been introduced to the core skills needed to pass this paper. You must now focus on developing…

    • 25118 Words
    • 225 Pages
    Good Essays
  • Powerful Essays

    INSTRUCTIONS TO CANDIDATES 1. This question paper consists of two (2) parts : PART A : Section 1 (7 Questions) Section 2 (6 Questions) PART B : (1 Question) Answer ALL questions from all parts in the Answer Booklet. Do not bring any material into the examination room unless permission is given by the invigilator. You are allowed to bring in your English-English dictionary. Please check to make sure that this examination pack consists of: i) ii) the Question Paper an Answer Booklet - provided by the Faculty…

    • 2441 Words
    • 10 Pages
    Powerful Essays
  • Satisfactory Essays

    S&S Air Case Study

    • 301 Words
    • 5 Pages

    S&S Air, Inc. 2009 Income Statement Sales COGS Other Expenses Depreciation EBIT Interest Taxable Income Taxes (40%) Net Income $20,077,000 $14,985,000.00 $2,399,000.00 $655,000.00 $2,038,000.00 $362,000.00 $1,676,000.00 $670,400.00 $1,005,600.00 Dividends Add. To RE $205,000.00 $800,600.00 2009 Balance Sheet Current Assets Cash AR Inventory Total CA Fixed Assets Net P&E Total Assets 1. Ratios Current Ratio…

    • 301 Words
    • 5 Pages
    Satisfactory Essays