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21 marksPublished Accounts and Statement of Cash Flows

CAPE Accounting Unit 1 · 2021 · Paper 2 · Question 3(c)

Statement of Financial Position as at 31 December 2020 and 2019 along with additional income and changes in equity information and equipment disposal details are provided for Tai Ltd.

Using the indirect method, prepare a statement of cash flows for the year ended 31 December 2020, in accordance with Section 7 IFRS for SMEs (IAS 7).

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Other parts of this question

  1. 3(a)(i)Outline the effects of inflation on financial statements, specifically relating to Closing inventory.[2 marks]
  2. 3(a)(ii)Outline the effects of inflation on financial statements, specifically relating to Depreciation.[2 marks]
  3. 3(a)(iii)Describe the current cost accounting method which may be used as an alternative to historical cost accounting in areas of high inflation.[3 marks]
  4. 3(b)(i)Define the term 'adjusting events', according to Section 32 of the IFRS for SME (IAS 10) events after the reporting period.[2 marks]
  5. 3(b)(ii)Identify 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…[5 marks]

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