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Did we have to discuss the treatment as well in spreadsheet part? Or just adjustments had to be done in Articat Q1?
Actually, I didn’t even read that requirement that’s why asking.I had ethical and professional issues due to the conduct of FD and Chief accountant in Q2 for 9 marks.
Justification why the lease was operating, something like that and can’t recall the rest.Q3 was the most challenging which really threw me off guard. There was a case in which a Co classified a loan which was due in a year time as non current liability. We had to discuss whether it was according to IAS 1.
Another part was the lease accounting for lessor.
And the 3rd I can’t remember.Q4 was relatively easier as there was some general discussion over the principles that should be considered while taking decision to disclose information in FS.
Another general discussion was about how disclosures about operating segment disclosures help investors.Another requirement was the calculation and explanation whether the given operating units or divisions are reportable as per IFRS 8.
And the last requirement was to identify who is the chief operating decision maker in the given scenario. (A CHIEF OPERATING OFFICER regularly reviewed the financial information of the all divisions, allocated resources to them, which led me to conclude that he is the CODM, the work of COO WAS THEN reviewed by a committee)
Can anyone recall how much the spreadsheet part was worth (marks) in Articat Co Q1?
It was a Consolidated Statement of Profit or Loss which I messed up. I made so many silly mistakes.Do any of you remember the questions from the morning slot exam?
