Fac3701 general financial reporting Study guides, Class notes & Summaries

FAC3701 summarized notes for exam preparation. Whatsapp 067 171 1739 for assistance. All the best on your exams!!

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FAC3701 EXAM PACK 2 GENERAL FINANCIAL REPORTING 3 OCTOBER – NOVEMBER SOLUTION 1: CONCEPTUAL FRAMEWORK, ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES & ERRORS, INCOME TAXES, PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS & REVENUE PART A (a) Liability in respect of network airtime (i) The resulting from rent received in advance will result in a performance obligation. This performance obligation should be quantified and recognised as a liability if it fits into...

FAC3702 EXAM PACK. Financial Reporting. IAS Limited is a manufacturing concern that handles a great number and variety of Inventory in the manufacturing process. To effectively manage the Inventory the board of directors has decided to buy a sofisticated Inventory management software system which was placed in the market by a system developer from Italy. On 2 January 2014 IAS Limited applied for a licence for the right to use the software system. On 15 March 2014 the licence was awarded to ...

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