Ias 108 - Study guides, Class notes & Summaries

FAC 3703 SPECIFIC FINANCIAL REPORTING FAC3703 EXAM PACK FAC3703 EXAM PACK 1 FAC3703 Paper 1 Suggested solution May-Jun 2017 Question 1 a) Calculate employee benefits W1. Salary: (275 000 x 9 months [Apr – Dec]) 2 475 000 (275 000 x 3 months [Jan – Mar] x 100/110) 750 000 Bonus paid: 275 000 Bonus obligation OB: (275 000 x 1/12) (22 917) Bonus obligation CB: (275 000 x 1,1 x 1/12) 25 208 ...

T 2. Nature iof iproperty, iplant, iand iequipment. F 3. Cost iof iremoving iold ibuilding. T 4. Insurance ion iequipment ipurchased. F 5. Accounting ifor ispecial iassessments. T 6. Overhead icosts iin iself-constructed iassets. F 7. Overhead icosts iin iself-constructed iassets. F 8. Interest icapitalization. F 9. Qualifying iassets ifor iinterest icapitalization. T 10. Avoidable iinterest. T 11. Interest icapitalization ion iland ipurchase. T 12. Deferred-payment icontracts. T 13. ...

CHAPTER i10 ACQUISITION iAND iDISPOSITION iOF PROPERTY, iPLANT, iAND iEQUIPMENT TRUE-FALSE—Conceptual Answer No. Description F 1. Nature iof iproperty, iplant, iand iequipment. T 2. Nature iof iproperty, iplant, iand iequipment. F 3. Cost iof iremoving iold ibuilding. T 4. Insurance ion iequipment ipurchased. F 5. Accounting ifor ispecial iassessments. T 6. Overhead icosts iin iself-constructed iassets. F 7. Overhead icosts iin iself-constructed iassets. F 8. Interest icapitalizati...