Financial Reporting June 2015 Answers

May 9, 2026

Upload by Rowan

June 2015 Financial Reporting Fundamentals Level – Skills Module, Paper F7 provides a structured set of solutions and explanations across Section A and Section B. The content focuses on core accounting theory and computations under IFRS, including asset recognition via cost built into selling price, treatment of provisions and non-adjusting events, impairment using carrying amount versus recoverable amount, and classification of irredeemable preference shares as equity. It also covers consolidation mechanics such as NCI at acquisition and post-acquisition profit, goodwill calculation, elimination of intra-group items, depreciation schedules, deferred tax on revaluation, deferred consideration discounting, and finance cost unwinding. Calculations and workings are shown in $’000 where required.

LanguageEnglish

CategoryExam

FormatPDF

Pages10

Reading Time25 min

May 9, 2026

Upload by Rowan