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Social, Ethical, and Reporting Considerations · CAPE Accounting Unit 1

12 past-paper questions on Social, Ethical, and Reporting Considerations, part of Module 3: Financial Reporting and Interpretation, from every CAPE Accounting Unit 1 paper on Quelpr.

Practise Social, Ethical, and Reporting Considerations
  1. 3(d)10 marks· CAPE Accounting Unit 1 · 2011 · Paper 2Discuss the proper accounting treatment, including any required note disclosures, for EACH situation in the financial statements / accounting records of Montego Company.
  2. 3(c)(i)4 marks· CAPE Accounting Unit 1 · 2015 · Paper 2Outline TWO examples of events that would be disclosed in the financial statements as required by Section 32.
  3. 3(c)(ii)4 marks· CAPE Accounting Unit 1 · 2015 · Paper 2Explain the meaning of 'conditions that existed at the end of the reporting period' and give ONE example.
  4. 3(b)10 marks· CAPE Accounting Unit 1 · 2016 · Paper 2Discuss the proper accounting treatment of EACH scenario, including required disclosures according to IFRS for SMEs Section 21, providing the rationale for your answers. (Scenario 1: 3 marks; Scenario 2: 7 marks)
  5. 3(a)7 marks· CAPE Accounting Unit 1 · 2018 · Paper 2Identify how EACH of the five post-balance sheet events described should be reflected in Castries Corporation's financial statements for the year ended 31 December 2015.
  6. 3(b)(i)4 marks· CAPE Accounting Unit 1 · 2018 · Paper 2Outline the effect of inflation on EACH of the following: - Depreciation - Profit
  7. 3(b)(ii)6 marks· CAPE Accounting Unit 1 · 2018 · Paper 2Describe TWO alternative methodologies to historical cost accounting that can be used during periods of inflation.
  8. 3(a)(i)2 marks· CAPE Accounting Unit 1 · 2021 · Paper 2Outline the effects of inflation on financial statements, specifically relating to Closing inventory.
  9. 3(a)(ii)2 marks· CAPE Accounting Unit 1 · 2021 · Paper 2Outline the effects of inflation on financial statements, specifically relating to Depreciation.
  10. 3(a)(iii)3 marks· CAPE Accounting Unit 1 · 2021 · Paper 2Describe the current cost accounting method which may be used as an alternative to historical cost accounting in areas of high inflation.
  11. 3(b)(i)2 marks· CAPE Accounting Unit 1 · 2021 · Paper 2Define the term 'adjusting events', according to Section 32 of the IFRS for SME (IAS 10) events after the reporting period.
  12. 3(b)(ii)5 marks· CAPE Accounting Unit 1 · 2021 · Paper 2Identify how EACH of the THREE bulleted post-balance sheet events above should be reflected in the financial statements of Tai Ltd for the year ended 31 December 2020.

Related topics in Module 3: Financial Reporting and Interpretation