Consolidated I/S and SFP for either 2 or 3 company group
Potential complications to include deferred consideration, share exchange and net asset fair
value adjustments, uniform accounting policy alignment, inter-co loan and PURP.
Redraft statement of comprehensive income and statement of financial position - possible
transactions to include depreciation, revaluation, investment property, revenue
recognition/substance, IFRS 5 – discontinued operation OR asset held for sale, inventory
adjustment, convertible loan, income tax.
Possible mixed interpretation question to include a calculation of an element of a statement
of cash flow and a report to include calculation of ratios and interpretation of the accounts
using the statement of cash flow and ratio results.
Question 4 and 5
IASB Framework (elements or qualitative characteristics), EPS, Impairment, Intangible assets
or changes in accounting policies, estimates and errors.