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CPA Financial Reporting 認定 FR 試験問題：

1. Measurement of the elements of financial position is the process of determining the monetary amounts at which the elements of the financial statements are to berecognizedand carried in the statement of financial position and statement of comprehensive income. There are number of basis of measurement that companies use in preparing financial statements.
Which of the following best explains the 'current cost accounting'?

A) The amount of cash or cash equivalents that was paid if an equivalent asset was acquired currently.
B) Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition.
C) The amount of cash or cash equivalents that would have to be paid if an equivalent asset was acquired currently.
D) The amount of cash or cash equivalents that could currently be obtained by selling an asset in an orderly disposal.

2. The following statements relate to intangible assets.
1) An intangible asset should beamortizedon a systematic basis over the asset's useful life.
2) Internally generated goodwill may be carried in the statement of financial position if the value can be determined with reasonable certainty.
3) Internally generated brands can never berecognizedas intangible assets.
Which of the above statements are consistent with IAS 38 Intangible Assets?

A) 1 and 2 only
B) 1 and 3 only
C) 2 only
D) 3 only

3. On 1 April 2012, Hunting plc acquired 70% of the ordinary shares of ICM Ltd. The following figures relate to the year ended 31 December 2012. Hunting plcICM Ltd $$ Revenue769,000600,000 Cost of sales568,500420,000 Gross profit200,500180,000
On 15 November 2012 ICM Ltd sold goods which cost it $5,000 to Hunting plc for $7,000. These goods were still held by Hunting plc at 31 December 2012.
What is the amount for gross profit in the consolidated income statement of Hunting plc for the year ended 31 December 2012?

A) $335,500
B) $983,500
C) $985,500
D) $333,500

4. Relied Ltd owns a factory with an opening carrying value of $60m. At 1 January 2012 the directors decided to sell the property, but have continued to use the factory for manufacturing during the year. As they have made no positive moves towards disposal, they are well aware that the property is not held for sale.
They wish to classify the building as an investment property and recognise a loss of $10m in the income statement based on a market value at 31 December 2012 of $50m. It is estimated that the factory has a remaining life of 20 years and the estimated cost to sells would be $50,000. Relied Ltd applies the cost model to their other factories.
How should be the factoryrecognizedin the statement of Relied Ltd?

A) Recognizedunder IFRS 5 property held for sale with $49.95m in the statement of financial position and a charge of $10.05m in the statement of profit or loss for the year ended 31 December 2012.
B) Recognizedunder IAS 16 with a depreciation charge of $3m in the statement of profit or loss and $57m in the statement of financial position as at 31 December 2012.
C) Cost model should be applied with a $10m reduction in the revaluation reserve and $57mrecognizedin the statement of financial position as at 31 December 2012.
D) Fair value model should be applied with a loss of $10mrecognizedin the statement of other comprehensive income and $50m in the statement of financial position as at 31 December 2012.

5. Julie plc has one associated company, Andrew Ltd, in which Julie plc holds 40% of the issued 100,000 $1 ordinary shares. The financial controller of Julie plc is unsure how the following transactions should be reflected in the consolidated statement of cash flows and has asked you to confirm the overall impact.
(1)
In the previous accounting period, Julie plc had made a cash advance of $100,000 to Andrew Ltd. During the current accounting period, Andrew Ltd repaid $30,000 of this cash advance.
(2)
During the current accounting period, Andrew Ltd sold an item of property, plant and machinery at its carrying amount for $20,000 cash.
(3)
During the current accounting period, Andrew Ltd paid a dividend of 20c per share.
In accordance with IAS 7 Statement of Cash Flows, what is the impact of the above cash transactions on Julie plc's consolidated statement of cash flows for the current accounting period?

A) Dividend received from associate $8,000
B) Cash from repayment of cash advance from associate $30,000; cash from sale of associate's plant $20,000
C) Cash from sale of associate's plant $20,000; dividend paid by associate $20,000
D) Cash from repayment of cash advance from associate $30,000; dividend received from associate $8,000

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