Question 1

A reconciliation of profit and cash flows is required using either the direct or indirect method of disclosing cash flows from operations

Accepted Answer

A) True 
 B)False

Question 2

A company calculates its cash flows from operating activities as profit +/- accruals.This is:

Accepted Answer

A)  the direct method 
B)  the indirect method 
C)  neither the direct or the indirect method 
D)  none of the above 
A)  the direct method 
B)  the indirect method 
C)  neither the direct or the indirect method 
D)  none of the above

Question 3

Discuss the basis of classifying cash flows arising from interest paid.

Accepted Answer

Interest paid:
- AASB107 provides guidan

Question 4

A company records a net profit of $220 for the year.Other information for the year:

Accepted Answer

A)  $260 
B)  $330 
C)  $270 
D)  $170 
A)  $260 
B)  $330 
C)  $270 
D)  $170

Question 5

The carrying amount of property plant and equipment is $1,000 at the start of the year and $1,400 at the end of the year.During the year the following occurred: Sale of equipment - carrying amount $40
Acquisition of equipment - financed by share issue $200
Depreciation expense for year $120.
Investing cash flow is:

Accepted Answer

A)  ($400) 
B)  ($200) 
C)  ($160) 
D)  ($360) 
A)  ($400) 
B)  ($200) 
C)  ($160) 
D)  ($360)

A reconciliation of profit and cash flows is required using either the direct or indirect method of disclosing cash flows from operations

A company calculates its cash flows from operating activities as profit +/- accruals.This is:

Discuss the basis of classifying cash flows arising from interest paid.

A company records a net profit of $220 for the year.Other information for the year:

Text Objectives and Introduction to Consolidation

Principles of Consolidation

Fair Value Adjustments and Tax Effects

Intra-Group Transactions

Non-Controlling Interest

Partly-Owned Subsidiaries: Indirect Non-Controlling Interest

Accounting for Joint Arrangements

Accounting for Associates and Joint Ventures: the Equity Method

Translation and Consolidation of Foreign Currency Financial Statements

Segment Reporting by Diversified Entities

Filters

Exam 7: Consolidated Cash Flow Statements

A reconciliation of profit and cash flows is required using either the direct or indirect method of disclosing cash flows from operations

A company calculates its cash flows from operating activities as profit +/- accruals.This is:

Discuss the basis of classifying cash flows arising from interest paid.

A company records a net profit of $220 for the year.Other information for the year:

Text Objectives and Introduction to Consolidation

Principles of Consolidation

Fair Value Adjustments and Tax Effects

Intra-Group Transactions

Non-Controlling Interest

Partly-Owned Subsidiaries: Indirect Non-Controlling Interest

Accounting for Joint Arrangements

Accounting for Associates and Joint Ventures: the Equity Method

Translation and Consolidation of Foreign Currency Financial Statements

Segment Reporting by Diversified Entities

Filters