The questions are based on the information in the Conceptual Framework for Financial Reporting. 17 A The property would be depreciated by $25,000 (800,000/16 x 6/12) for six months giving a carrying amount of $775,000 Recent questions and answers in IFRS 15 - Revenue from Contracts with Customers 1 answer. You may repeat the quiz as many times as you like, with a new set of questions each time. You will be asked to answer eight randomly selected questions from a pool of more than 50. EXAMPLE: REPURCHASE AGREEMENT 43 . 19. There seems to be very specific guidance in IFRS 15 related to licences 41 . ACCA Financial Reporting (FR) Chapter 15 Income taxes (IAS 12) Questions - Free ACCA Financial Reporting (FR) Practice Tests Financial Reporting ACCA questions and solution 2002 - 2010 answered Dec 14, 2018 in IFRS 15 - Revenue from Contracts with Customers by anonymous. Do well to … ACCA Past Questions and Answers PDF Free Download Study Pack. telecomunication revenue; 1 answer. What exactly are “repurchase agreements” and what is their impact on accounting for revenue under IFRS 15? Each question corresponds to a different chapter of the document. How does IFRS 15 affect tecomunication revenue recorgnition. Following receipt and review of comments on a Discussion Paper, what will be the next step undertaken by the IASB? IFRS 15 Revenue from Contracts with Customers — Your Questions Answered. IFRS 15, possibly changes to accounting policies which have been made on adoption of IFRS 15 are not appropriate. 15 B 16 D (iv) deferred tax relating to the revaluation of an asset must be provided for even if there is no intention to sell the asset in accordance with IAS 12. INDEX TO QUESTIONS AND ANSWERS KAPLAN PUBLISHING P.7 Page number Question Answer Past exam SECTION A – OBJECTIVE TEST QUESTIONS Conceptual framework/IFRS Standards 1 2012 Consolidated financial statements 42 234 Interpretation of financial statements 55 243 Statement of cash flows 61 247 Repurchase Agreements. The process for developing an IFRS involves a number of stages. ACCA Past Papers - ACCA Past Exams - Questions and Answers, Download PDF documents, ACCA Articles and Tests, ACCA Exam tips, Essential Guide articles A Publication of an Exposure Draft B Establishment of an Advisory Committee C Consultation with the Advisory Committee D Issue of a final IFRS (2 marks) 2 Thus, if you are searching for ACCA past questions and answers guide then consider yourself to be very lucky. 41 . 43 . The maxim “Practice Makes Perfect” cannot be overemphasized. (i) is the only correct elimination required by IFRS. Licences. 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