Page 95 - Financial Accounting 1 ITC Preparation June 2018

ITC EXAM PREP – JUNE 2018

Financial Instruments Exam Application

• Financial instruments questions are mostly integrated with

• Management Accounting – think of WACC calculation and business

valuations
• Taxation – tax effect and treatment of financial instruments

• Auditing – financial instruments area is considered a significant risk area

and think of what type of assertions that may required testing
• Theory questions have been examined before and review the link between IAS

32, IFRS 9 and IFRS 7

• However, be comfortable with your calculator and work efficiently the during

exam
• Be able to calculate credit losses provision – i.e. which one should be

processed via P/L or OCI

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