Transcription of Answers - ACCA Global
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Answers13 Professional Level Essentials Module, Paper P2 (INT)Corporate Reporting (International) September/December 2017 Sample Answers1 (a) Consolidated statement of profit or loss and other comprehensive income for the Moorland Group for the year ended 30 June 2017 Total $m Revenue 887 Cost of sales (531) Gross profit 356 Administrative costs (142) Other expenses (85 9) Operating profit 128 1 Net finance costs (23 8) Profit before tax 104 3 Income tax expense (50 2) Profit for the year 54 1 Other comprehensive income Items that will not be reclassified to profit or loss Gains on property revaluation 61 8 Pension remeasurement loss (4 2) 57 6 Items that may be reclassified to profit or loss Exchange losses (85 9) Other comprehensive income (28 3) Total comprehensive income for year 25 8 Non-controlling interest profits (W9)
16 (($422m – $300m) x 30%). Deferred tax must be reported in the financial statements to match the corresponding gains and losses. The movement in deferred tax …
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