How does IFRS 15 affect tecomunication revenue recorgnition. telecomunication revenue; 1 answer. EXAMPLE: REPURCHASE AGREEMENT 43 . IFRS is Easy brings to you free ICAN and ACCA Pdf examination questions and solutions. Financial Reporting ACCA questions and solution 2002 - 2010 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 ACCA Financial Reporting (FR) Chapter 15 Income taxes (IAS 12) Questions - Free ACCA Financial Reporting (FR) Practice Tests 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 answered Dec 14, 2018 in IFRS 15 - Revenue from Contracts with Customers by anonymous. (i) is the only correct elimination required by IFRS. Repurchase Agreements. The process for developing an IFRS involves a number of stages. 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. Instead, Xtol should report the commission earned of $2 million (credit) as other operating income (or as revenue would be acceptable). IFRS 15, possibly changes to accounting policies which have been made on adoption of IFRS 15 are not appropriate. Licences. You may repeat the quiz as many times as you like, with a new set of questions each time. Each question corresponds to a different chapter of the document. What exactly are “repurchase agreements” and what is their impact on accounting for revenue under IFRS 15? ACCA Past Papers - ACCA Past Exams - Questions and Answers, Download PDF documents, ACCA Articles and Tests, ACCA Exam tips, Essential Guide articles You will be asked to answer eight randomly selected questions from a pool of more than 50. Following receipt and review of comments on a Discussion Paper, what will be the next step undertaken by the IASB? 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 Do well to … 41 . Recent questions and answers in IFRS 15 - Revenue from Contracts with Customers 1 answer. The maxim “Practice Makes Perfect” cannot be overemphasized. 20. Cost of sales per question 290,600 Remove agency costs (15,000) ... and their ‘cost’ from cost of sales (credit $15 million). There seems to be very specific guidance in IFRS 15 related to licences ACCA Past Questions and Answers PDF Free Download Study Pack. 19. 41 . Answers. 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