Page 21 - CIMA MCS Workbook May 2019 - Day 1 Tasks

Chapter 6

ADVANCED FINANCIAL REPORTING

(F2) FAMILIARISATION

1. ANALYSIS OF PERFORMANCE AND POSITION

 Using suitable ratios analyse the financial performance and position of Jord using the
financial statements provided in the pre‐seen, together with any other relevant information
from the pre‐seen.

2. SOURCES OF LONG‐TERM FINANCE
 Consider the ways in which Jord could raise long‐term finance together with the reasons
why they may wish to raise finance and any relevant implications.

3. FINANCIAL REPORTING STANDARDS

Revise the requirements of each of the following accounting standards / topics and discuss how
they might be relevant to Jord and the pre‐seen information:

 IAS 2 Inventories
 IAS 16 Property, plant and equipment
 IFRS 16 Leases
 IFRS 15 Revenue from contracts with customers
 IAS 36 Impairments
 IAS 37 Provisions, contingent liabilities and contingent assets
 IAS 38 Intangible assets
 IFRS 5 Discontinued operations and assets held for sale
 IAS 21 Foreign currency – both foreign currency transactions and foreign operations
 IFRS 3 Business combinations
 IFRS 10 Consolidated financial statements
 IFRS 11 Joint arrangements
 IAS 28 Investments in associates and joint ventures

*Note – whilst elements some of the financial reporting standards noted above are included in the F1
Financial Operations syllabus, knowledge of this topic could still be tested within the managerial case study.

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