ACCA F3《财务会计》简要知识点归纳.docx

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1、ACCA F3财务会计简要知识点归纳 ACCA F3财务会计简要知识点归纳 What is the purpose of a bank reconciliation? The bank reconciliation is done to check the accuracy of the entries in the cash book (and the accuracy of the bank statement). What are we trying to achieve when we reconcile the receivables ledger control accounts

2、with the receivables ledger? The balance on the receivables ledger control account should be the same as the total of all the balances on the individual accounts in the accounts receivables ledger. If they are not the same then there must be an error. In consolidations, under what circumstances will

3、 a provision for unrealised profit (PURP) adjustment be necessary? When one company in the group has made sales to the other company, and the other company has some of those goods in inventory at the end of the year. How is the goodwill arising on consolidation calculated? It is the difference betwe

4、en the fair value of the subsidiary and the fair value of the net assets of the subsidiary. What is the difference between the Direct and Indirect methods of arriving at the cash generated from operations on a Statement of Cash Flows? The direct method shows the actual amount of cash received and ca

5、sh paid in respect of operations. The indirect method starts with the profit before tax and adjusts it to result in the cash generated. What items appear on a Statement of Cash Flows under the heading Investing Activities? Cash spent acquiring non-current assets Cash received from the sale of non-cu

6、rrent assets Income from investments What are the three main headings that will appear on Statement of Cash Flows? Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities How is a contingent asset treated in the Financial Statements if the likel

7、ihood of the asset being confirmed is regarded as probable? If it is probable, then the asset should not be recognised in the Financial Statements, but it should be disclosed by way of note. In the context of IAS 10 Events after the reporting period what is the treatment of a non-adjusting event? Th

8、e financial statements are not amended to reflect the event, but it is disclosed by way of a note if material. What are revenue reserves? Revenue reserves are profits that have been earned (and retained) by the company retained earnings and general reserve. They represent amounts owing to shareholde

9、rs that can be paid out as dividend. What does the share premium account record? The share premium account records the excess of the amount of cash received from the issue of shares over the nominal (par) value of the shares. What is a bonus (scrip) issue of shares? A bonus issue of shares is an iss

10、ue of new shares to existing shareholders in proportion to their existing shareholdings, free of charge. No cash is received. What are the differences between ordinary and preference shares? Ordinary shares have voting rights preference shares usually do not. The dividend on ordinary shares is recommended by the directors preference shares carry a fixed dividend. The ordinary dividend is paid out of profits left after the preference dividend has been paid.