Economics, Accounting & Business: Post your doubts here!

[WaleedUQ]

xactly.

I couldn't do this question
They didnt for accounted for stock losses, prepaid and accrued expenses, dividends ( we can assume that they are basically asking for a profit and loss account not a appropriation account )
Ye hwa kya yahaan pay!
:s EXPLAIN

 

[WaleedUQ]

Guys please tell me how do we make published accounts according to IAS
secondly how do we treat interim dividend and final dividend in the books of account
it is confusing me :S

 

[redapple20]

Guys please tell me how do we make published accounts according to IAS
secondly how do we treat interim dividend and final dividend in the books of account
it is confusing me :S

Pata chal jae to mujh ko bhi btana!:/

 

[wajiman]

what about the b part, the previous year's dividend was included when they found retained earnings? and what do you mean proposed divs are no longer treated?

i forgot to tell you that he did not subtract the dividends from the income statement as per the IAS 1 standard, you can charge dividends paid to the retained earnings only not to net profit this is a new standard too

 

[wajiman]

cash flow statement new pattern:

operating activities:
operating profit xx
depreciation/amortization add back x
Add loss on sale of fixed asset x
less profit on sale of fixed asset x
interest paid x
tax paid x (xx)
operating profit before working capital changes xx
Decrease/ (increase) in inventory x
Decrease/ (increase) in debtors/prepayments x
(Decrease)/ increase in creditors/accruals x xx
net cash from operating activities xx
investing activites:
Interest received/Dividend received x
Receipts from disposal of fixed asset x
Payments to acquire fixed assets (x)
(purcahse)/sale of investments x
net cash flow from investing activities xxxx
financing activities:
Dividend paid (x)
issue/(redemption ) of shares x
issue/ (repayment) of debentures and loans x
net cash from investing activites xx
net increase/decrease in cash and cash equivalents xxxx
cash and cash equivalents at start of the year xxxx
cash and cash equivalents at end of the year xxxx​

 

[wajiman]

Guys please tell me how do we make published accounts according to IAS
secondly how do we treat interim dividend and final dividend in the books of account
it is confusing me :S

here are the two IAS standards for published accounts. as i said that the dividends paid are to be subtracted from the retained earnings, they will be subtracted from statement of changes in equity. please refer image 9

 

[kamidada]

mate from which paper is this, coz i think there is a mistake in the question in additional info, point no.6, it says there are $25,000 of patents were bought but does not states how many were sold for how much? i might have misinterpreted the question, do correct me if i m wrong

Patents at the beg were 28 k, 25 k was paid to buy more of those , which brings the total to 53 k ; whereas those were 38 k at the end which means that rest of 15 k is amortised during the yr and shud be treated as we treat depreciation in the cashflow i.e addback and 25 k paid shud be the outflow.

 

[wajiman]

Patents at the beg were 28 k, 25 k was paid to buy more of those , which brings the total to 53 k ; whereas those were 38 k at the end which means that rest of 15 k is amortised during the yr and shud be treated as we treat depreciation in the cashflow i.e addback and 25 k paid shud be the outflow.

that's the mistake i was doing, i was considering it as a disposal

 

[WaleedUQ]

here are the two IAS standards for published accounts. as i said that the dividends paid are to be subtracted from the retained earnings, they will be subtracted from statement of changes in equity. please refer image 9

I got it,
so where do we charge depreciation, loss on disp, accrued and prepay expenses, gain on disposal, D.received and allowed?
that Nov11 question no.2
they didnt took stock loss finance cost and etc !
samjh nahi araha what the hell is happening :S

 

[WayneRooney10]

http://www.xtremepapers.com/papers/CIE/Cambridge%20International%20A%20and%20AS%20Level/Accounting%20(9706)/9706_w11_qp_21.pdf
Q1. The capital in the balance sheet is 98350. How?

 

[wajiman]

I got it,
so where do we charge depreciation, loss on disp, accrued and prepay expenses, gain on disposal, D.received and allowed?
that Nov11 question no.2
they didnt took stock loss finance cost and etc !
samjh nahi araha what the hell is happening :S

depreciation, loss on disp, accrued and prepay expenses etc are the same and nov 11 question n0.2. the stock was not to be taken as it was for the next accounting period. read the dates

 

[Anusuya]

Can someone explain me from where did 6400 come in the realisation account. its a ques. from M/J 2007 P-4 (Q-1). and why are rhe debentures 40,000?? http://www.xtremepapers.com/papers/... AS Level/Accounting (9706)/9706_s07_qp_4.pdf

 

[WayneRooney10]

They have shown the figure for Opening Capital ($62350, calculated as Assets-Liabilities at 1st April,2010) & Additional Investment ($36000, shown in Bank Account) as just 'Capital' = $98350.

P.S.: why are you still doing P2?

I knew that! Ha! Found out I wasn't adding the bank balance. Doing P2 because I'll be giving all the exams at the end of the two years of A levels.

 

[Saad Ghori]

Can someone explain me from where did 6400 come in the realisation account. its a ques. from M/J 2007 P-4 (Q-1). and why are rhe debentures 40,000?? http://www.xtremepapers.com/papers/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s07_qp_4.pdf
View attachment 11753

6400 are the dissolution expenses.
The question stated Chetan is to be provided for enough debenture stock which will get him the return which he received through the partnership loan before. That is 30000*8%= 2400
The debenture stock that will provide him the same return is 2400 divide by 6%= 40000

 

[Manesh]

where we can find specimen papers of accounting 2012.

 

[youzair]

Want to get A* in Economics, Click here.

 

[youzair]

where we can find specimen papers of accounting 2012.

Specimen Paper are not published every year, CIE publish it when amendment in syllabus is being done.

 

[reina81]

can someone please give me a summarised list of all the changes in the IAS standards that affect the syllabus, I studied from the HRandall book and its not up to date. Just found out about the changes in the cash flow statement format and the treatment for proposed dividends when solving 2011 papers. Please help. Doesn't need to be too detailed.

 

[Manesh]

Specimen Paper are not published every year, CIE publish it when amendment in syllabus is being done.

the syllabus has changed for 2012

 

[youzair]

the syllabus has changed for 2012

But CIE hasn't uploaded 2012 specimen paper!
You can find 2011 specimen paper on their website.

might be they haven't include any thing new in the syllabus they just shuffled the topics.