F2 Dumps

Tuesday 11 July 2017

Pass F2 Exam Questions - Get Actual F2 Dumps 2017


This was a lucky third time to take the Cima F2 exam this week - I finally got the degree of approval I desperately needed - Chima's official Grammy score was 108 out of 150 and dominated in all areas of the F2 program!

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Thursday 29 June 2017

Free Cima F2 Training Exam Question Answers - Dumps4download

Question No 8:

KOL granted share options to all of its 400 employees on 1 January 2010. Each employee will receive 1,000 share options provided they continue to be employed by KOL for four years from the grant date. The fair value of an option at the grant date was $2.20.
On the same date KOL granted 500 share appreciation rights to each of its employees. To be eligible, employees again have to be employed by KOL for four years from the grant date. The rights are exercisable in the two-month period from 1 January 2014 and will be settled in cash. The fair value of each share appreciation right was $12 at 31 December 2010 and $14 at 31 December 2011.
The actual and expected future staff movements as at 31 December 2010 and 31 December 2011 are provided below.
2010 15 left and another 55 were expected to leave over the next three years.
2011 a further 22 left and another 36 were expected to leave over the next two years.

Required:
(a) Prepare, in accordance with IFRS 2 Share-based Payment, the accounting entries required in the financial statements of KOL for the year to 31 December 2011 in respect of the two financial instruments identified above.

(b) Explain the main principle of recognition set out by IFRS 2 Share-based Payment for share based payments AND why the treatment of the two financial instruments identified above will differ in the statement of financial position.

(a) Accounting entries Accounting entries for year ended 31 December 2011:
Share options
Dr Staff         costs (income statement) (W1) $178,200
            Cr     Equity               $178,200
Share appreciation rights
Dr Staff         costs (income statement) (W2) $649,500
            Cr Liabilities (non-current)  $649,500
Working 1
1,000 options x (400-15-22-36) employees x FV$2.20 x 2/4 years = $359,700
Less recognized in 2010:
1,000 options x (400-15-55) employees x FV$2.20 x 1/4 years =     $181,500
Charge for 2011                             $178,200
Working 2
500 SARs x (400-15-22-36) employees x FV$14 x 2/4 years = $1,144,500
Less recognized in 2010:
500 SARs x (400-15-55) employees x FV$12 x 1/4 years =      $495,000
Charge for 2011                          $649,500

(b) In accordance with IFRS 2, the share options and the share appreciation rights are recognized as an expense in the income statement as they are awarded in return for employee service.
The treatment of each, however is different in the statement of financial position. The share appreciation rights will result in a future outflow of cash and therefore represent an obligation and are presented as a liability. The liability should reflect the most reliable measurement at each balance sheet date and so the total amount payable that is estimated at each year-end date is estimated using the updated fair values.

The options represent an equity-settled share-based payment and do not meet the definition of obligation, and so instead the entry is to equity. The equity element is measured initially and subsequently at the fair value at the grant date.

Saturday 22 April 2017

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Friday 7 April 2017

Free F2 Advanced Financial Reporting Training Exam Questions

 Question No 7:

AB acquired 90% of the equity of YZ on 31 December 20X2. On the same date YZ acquired 60% of the equity shares of VW for $750,000. AB has no other subsidiaries. The following information regarding YZ and VW was available:

What amount will AB include in its consolidated statement of financial position in respect of non-controlling interest at 31 May 20X6?

A. $741,400
B. $816,400
C. $811,000
D. $840,600

Answer: A

 

Sunday 19 March 2017

Cima F2 PDF Exam Engine Dumps - Dumps4download.com


Question No 6:

ST acquired 75% of the 2 million $1 equity shares of CD on 1 January 20X3, when the retained earnings of CD were S3,550,000. CD has no other reserves.
ST paid $5,600,000 for the shares in CD and the non controlling interest was measured at its fair value of S1,400,000 at acquisition.
At 1 January 20X3, the fair value of CD's net assets were equal to their carrying amount, with the exception of a building. This building had a fair value of $1,000,000 in excess of its carrying amount and a remaining useful life of 25 years on 1 January 20X3.
At 31 December 20X5, the retained earnings of ST and CD were $8,500,000 and $5,250,000 respectively.
What is the value of goodwill to be included in the consolidated statement of financial position of ST as at 31 December 20X5?

A. $1,450,000
B. $950,000
C. $450,000
D. $570,000

Answer: C

 

Friday 24 February 2017

Free Cima F2 Training Exam Question - Dumps4download

 Question No 5: 

What is 'Limited by shares'?


Answer:
Means that the company has shareholders, and that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thereby protected in the event of the company's insolvency, but money invested in the company will be lost.


Sunday 1 January 2017

Advanced Financial Reporting Question And Answer

Question No 4:

Different types of preference shares

Answer: 

• Cumulative preference shares, for which dividends must be paid including skipped dividends i.e. if a dividend is skipped one year, the skipped dividend has to be paid the following year along with the 'normal' dividend.
• Non-cumulative preference shares, for which skipped dividends do not have to be paid later.
• Participating preference shares, which give the holder fixed dividends plus extra earnings based on certain conditions (in a similar way to ordinary shares).
• Convertible preference shares, which can be exchanged for a specified number of ordinary shares on some given future date.