2015年12月ACCA P2考试模拟练习题

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12月ACCA考试就要到了，考生也处于紧张的备考时期，财萃小编给国和汇总了一些
ACCA P2

考试模
拟题
，希望对国和有所帮助。 Required: (a)Prepare a consolidated statement of cashflows for the Jocatt Group using the indirect method under IAS 7'Statement ofCash Flows'.

Note:Ignore deferred taxation other thanwhere it is mentioned in the question.(35 marks)

(b)Jocatt operates in the energy industryand undertakes complex natural gas trading arrangements,which involve exchangesin resources with other companies in the industry.Jocatt is entering into along-term contract for the supply of gas and is raising a loan on the strengthof this contract.The proceeds of the loan are to be received over the year to30 November 2011 and are to be repaid over four years to 30 November 2015.Jocattwishes to report the proceeds as operating cash flow because it is related to along-term purchase contract.The directors of Jocatt receive extra income if theoperating cash flow exceeds a predetermined target for the year and feel thatthe indirect method is more useful and informative to users of financialstatements than the direct method.

(i)Comment on the directors'view that theindirect method of preparing statements of cash flow is more useful andinformative to users than the direct method.(7 marks)

(ii)Discuss the reasons why the directorsmay wish to report the loan proceeds as an operating cash flow rather than afinancing cash flow and whether there are any ethical implications of adoptingthis treatment.(6 marks)

Professional marks will be awarded inpart(b)for the clarity and quality of discussion.(2 marks)

(50 marks)