Acca Revision Mock
ACCA REVISION MOCK
Financial Reporting
(International) December 2011
Question paper
Time allowed Reading and planning: 15 minutes Writing: 3 hours
All FIVE questions are compulsory and MUST 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.
Kaplan Publishing/Kaplan Financial
Paper F7 (INT)
PAPER F7 (INT) : FINANCIAL REPORTING
© Kaplan Financial Limited, 2011 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials. All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without prior permission from Kaplan Publishing.
2
K A P LA N P UB L I S H I N G
REVISION MOCK : QUESTIONS
All FIVE questions are compulsory and MUST be attempted
QUESTION 1
On 1 October 2009, Pedal acquired 75% of the equity share capital of Spoke in a share exchange of two shares in Pedal for three shares in Spoke. The issue of shares has not yet been recorded by Pedal. At the date of acquisition shares in Pedal had a market value of $6 each. Pedal also acquired 50% of
Financial Reporting
(International) December 2011
Question paper
Time allowed Reading and planning: 15 minutes Writing: 3 hours
All FIVE questions are compulsory and MUST 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.
Kaplan Publishing/Kaplan Financial
Paper F7 (INT)
PAPER F7 (INT) : FINANCIAL REPORTING
© Kaplan Financial Limited, 2011 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials. All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without prior permission from Kaplan Publishing.
2
K A P LA N P UB L I S H I N G
REVISION MOCK : QUESTIONS
All FIVE questions are compulsory and MUST be attempted
QUESTION 1
On 1 October 2009, Pedal acquired 75% of the equity share capital of Spoke in a share exchange of two shares in Pedal for three shares in Spoke. The issue of shares has not yet been recorded by Pedal. At the date of acquisition shares in Pedal had a market value of $6 each. Pedal also acquired 50% of