Transcription of Corporate Reporting (International)
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Professional Level Essentials ModuleTime allowedReading and planning:15 minutesWriting:3 hoursThis question paper is divided into two sections:Section A This ONE question is compulsory and MUST be attemptedSection B TWO questions ONLY to be attemptedDo NOT open this question paper until instructed by the reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet untilinstructed by the question paper must not be removed from the examination P2 (INT) Corporate Reporting (International) September/Decemb er 2015 The Association of Chartered Certified AccountantsThis is a blank question paper begins on page A THIS ONE question is compulsory and MUST be attempted1 The following draft financial statements relate to Bubble, a public limited company and two other companies in whichit owns statements of financial position as at 31 October 2015 BubbleSaltTyslar$m$mDinars mAssetsNon-current assetsProperty, plant and equipment280105390 Investment in Salt110 Investment in Tyslar46 Financial assets12998 448114488 Current assetsInv
3. On 1 February 2015, Bubble gave an interest-free loan to Tyslar for $10 million. Tyslar recorded this correctly in its financial statements using the spot rate of exchange.
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Financial Instruments, IFRS overview the main principles and, IFRS overview –the main principles and, Accounting theory and conceptual frameworks, STATUTORY BOARD FINANCIAL REPORTING, Statutory Board Financial Reporting Standard, Capital and operational risks: comparative, Capital and operational risks: comparative analysis of regulatory approaches, Key differences between UK GAAP & FRS