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Sep/Dec 2015 Q1 a(ii)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Sep/Dec 2015 Q1 a(ii)

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by Kim Smith.
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  • May 23, 2020 at 12:56 pm #571655
    toushiga
    Member
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    Sir, I have some queries about the PYQ Sep/Dec 2015 Q1 part a(ii) “Recommeded additional information”

    for 1st point : What is the terms of the flotation refers to here?

    for 4th point: Why need to know the details on the planned listing in next year?will it affect this year FS?

    for 6th point : What is the period of forecast refers to?including this year or next year onward?as in the examiner report stated that the question is set almost a month prior to year end and so financial statement and year-end balances not yet available.

    Thank you.

    May 26, 2020 at 7:39 am #571853
    Kim Smith
    Keymaster
    • Topics: 100
    • Replies: 6785
    • ☆☆☆☆☆

    1. Well anything you can think I guess – the structure of the offer – whether it’s to the public at large and/or institutional investors – in what %s – special terms for any % for employees (e.g. discount), “lock-up commitments” (i.e. minimum period that shares cannot be sold – e.g. 6 months to a year) – how long the offer will last (e.g. 5 – 10 trading days)

    2. Don’t lose sight of the requirement – this is in the context of the evaluation of audit risk – e.g. the more ambitious the plans the greater the pressure on management. Senior executives have been granted share options in connection with successful domestic listing – might they not expect similar from future listing on a foreign exchange?

    3. As it says “including a statement of cash flows to assess the working capital issues faced by the company” I would take this to be 12 months after reporting date. (It is only actual amounts to the reporting date are not available, but the Q gives projected figures for the current year.)

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