Tiêu đề AC3091 - Financial Reporting - 2020 Examiners Commentaries.pdf ✅

Examiners’ commentaries 2020 Examiners’ commentaries 2020 AC2091 Financial reporting Important note This commentary reflects the examination and assessment arrangements for this course in the academic year 2019–20. The format and structure of the examination may change in future years, and any such changes will be publicised on the virtual learning environment (VLE). Information about the subject guide and the Essential reading references Unless otherwise stated, all cross-references will be to the latest version of the subject guide (2018). You should always attempt to use the most recent edition of any Essential reading textbook, even if the commentary and/or online reading list and/or subject guide refer to an earlier edition. If different editions of Essential reading are listed, please check the VLE for reading supplements – if none are available, please use the contents list and index of the new edition to find the relevant section. General remarks Learning outcomes At the end of this course and having completed the Essential reading and activities you should be able to: explain and apply a number of theoretical approaches to financial accounting record and analyse data prepare financial statements under alternative accounting conventions describe a number of regulatory issues relating to financial accounting critically evaluate theories and practices of, and other matters relating to, financial accounting. What are the examiners looking for? The examination paper contains eight questions and candidates have to complete five questions in total, four from Section A and one from Section B. In Section A, there are six questions which combine numerical and written components and in Section B there are two essay-based questions. Section A questions require candidates to prepare calculations on a variety of topics as well as showing a critical grasp of the theories underlying the techniques. To do well candidates need to be able to both explain and evaluate the theories and prepare a range of financial statements and calculations. 1

Examiners’ commentaries 2020 Examiners’ commentaries 2020 AC2091 Financial reporting Important note This commentary reflects the examination and assessment arrangements for this course in the academic year 2019–20. The format and structure of the examination may change in future years, and any such changes will be publicised on the virtual learning environment (VLE). Information about the subject guide and the Essential reading references Unless otherwise stated, all cross-references will be to the latest version of the subject guide (2018). You should always attempt to use the most recent edition of any Essential reading textbook, even if the commentary and/or online reading list and/or subject guide refer to an earlier edition. If different editions of Essential reading are listed, please check the VLE for reading supplements – if none are available, please use the contents list and index of the new edition to find the relevant section. Comments on specific questions Candidates should answer FIVE of the following EIGHT questions: FOUR from Section A and ONE from Section B. All questions carry equal marks. Workings MUST BE submitted for all questions requiring calculations. Any necessary assumptions introduced in answering a question are to be stated. Section A Answer any FOUR questions from Section A. Question 1 Pudding Ltd has two group companies, Cream Ltd and Custard Ltd. The income statements for Pudding Ltd, Cream Ltd and Custard Ltd for the year ended 31 December 2019 are given as follows: 3