ACCA F7 Past Papers

Question 1: Prodigal and Sentinel

1(a)(i) Prepare Consolidated statement of comprehensive income

1(a)(ii) Extracts: Prepare Equity section

1(b) Difference between the two accounting treatments for non-controlling interest

Question 2: Highwood

2(i)  Prepare Statement of comprehensive income

2(ii) Prepare Statement of changes in equity

2(iii) Prepare Statement of financial position

Question 3: Bengal

3(a) Prepare cash flow statements

3(b) Interpret cash flow statement to assess performance and position of an entity

Question 4: IASB Framework / Rebound

4(a) Qualitative characteristics of financial statements and IFRS disclosure requirements

4(b) Calculation of diluted EPS

Question 5: Mocca

5) Construction contract

Download December 2010 Questions | Answers

Question 1: Premier and Sanford

1(a) Prepare consolidated statement of comprehensive income

1(b) Prepare consolidated statement of financial position

Question 2: Cavern

2(a) Prepare statement of comprehensive income

2(b) Prepare statement of changes in equity

2(c) Prepare statement of financial position

Question 3: Hardy Co.

3) Calculation and interpretation of accounting ratios

Question 4: IAS 8 / Tunshill

4(a) Accounting policies and changes in accounting policies and estimates (Theoretical)

4(b) Changes in accounting policies and estimates (Two scenarios)

Question 5: Manco

5) Restructuring provisions

Download June 2010 Questions | Answers

Question 1: Picant, Sander and Adler

1(a) Prepare consolidated statement of financial position with associate

1(b) Importance of consolidated financial statements

Question 2: Dune

2(a) Prepare income statement

2(b) Prepare statement of financial position

Question 3: Deltoid

3(a)(i) Prepare statement of cash flows

3(a)(ii) Interpret statement of cash flows to assess performance and position of the entity

3(b) Interpret entity’s financial statements through ratios for different stakeholders

Question 4: Framework / Wardle

4(a) Qualitative characteristics of financial statements/legal versus commercial view of accounting (Theory)

4(b) Legal versus commercial view of accounting (Scenario)

4(c) Legal versus commercial view of accounting (Theory) – Effect of legal and commercial view on financial statements

Question 5: IAS 23 / Apex

5(a) Borrowing cost (Theory)

5(b) Borrowing cost (Scenario)

Download December 2009 Questions | Answers

Question 1: Pandar, Salva and Ambra

1(a)(i) Consolidated financial statements: Working: Goodwill

1(a)(ii) Consolidated financial statements: Working: Investment in associates

1(b) Prepare consolidated income statement including associate

Question 2: Sandown

2(a) Prepare statement of comprehensive income

2(b) Prepare statement of financial position

Question 3: Crosswire

3(a) Cash flow statement

3(b) Calculation and interpretation of accounting ratios

Question 4: Framework / Darby

4(a) Definition of assets according to IASB Framework (Theory)

4(b) Recognition and measurement of assets (Scenario)

Question 5: EPS / Barstead

5(a) Limitations of using EPS as performance measure (Theory)

5(b) Calculate basic and diluted EPS (Scenario)

Download June 2009 Questions | Answers

Question 1: Pacemake, Syclop and Vardine

1) Preparation of consolidated statement of financial positioni including associate

Question 2: Pricewell

2(a) Prepare statement of comprehensive income

2(b) Prepare statement of financial position

Question 3: Coaltown

3(a) Prepare statement of cash flows

3(b) Calculate and interpret accounting ratios

Question 4: IAS 10 / Waxwork

4(a) Events after balance sheet date (Theory) – Define adjusting and non-adjusting events

4(b) Events after balance sheet date (Scenario)

Question 5: Flightline

5) Complex (Separate component) non-current asset

Download December 2008 Questions | Answers

Question 1: Pedantic and Sophistic

1(a) Prepare consolidated income statement

1(b) Prepare consolidated statement of financial position

Question 2: Candel

2(a) Prepare statement of comprehensive income

2(b) Prepare statement of changes in equity

2(c) Prepare statement of financial position

Question 3: Victular

3(a) Calculate accounting ratios

3(b) Interpret accounting ratios (to assess performance and position of another similar entity)

3(c) Limitations of accounting ratios (Theory)

Question 4: IAS 37 / Promoil

4(a) Provisions, contingent liabilities and assets (Theory) + Qualitative characteristics of financial statements

4(b) Provisions, contingent liabilities and assets (Scenario)

Question 5: Dearing

5) Non-current assets

Download June 2008 Questions | Answers

Question 1: Patronic, Sardonic and Acerbic

1(a) Consolidation workings

1(b) Prepare consolidated income statement

1(c) The concepts and principles of consolidation (Theory)

Question 2: Dexon

2(a) Prepare income statement (recalculation of profit)

2(b) Prepare statement of changes in equity

2(c) Prepare statement of financial position

Question 3: Pinto

3(a) Prepare statement of cash flows

3(b) Interpret statement of cash flows

Question 4: IASB Framework / Accounting concepts

4(a) Underlying assumptions + Qualitative characteristics of financial statemetns (Theory)

4(b) Accounting concepts and policies (Theory)

Question 5: Pingway

5) Accounting for convertible loan note

Download December 2007 Questions | Answers

Question 1: Plateau, Savannah and Axle

1(a) Prepare consolidated statement of financial position

1(b) The concepts and principles of consolidation (Theory)

Question 2: Llama

2(a) Prepare income statement

2(b) Prepare statement of financial position

2(c) Calculation of basic EPS

Question 3: Harbin

3(a) Calculate accounting ratios

3(b) Interpret accounting ratios to measure performance and position (Compare with last year)

Question 4: IASB Framework / Fino

4(a) Qualitative characteristics of financial statements

4(b) Leases (Scenario)

Question 5: R&D / Emerald

5(a) Accounting for research and development + Definition of elements of financial statements (Theory)

5(b) Accounting for research and development (Scenario)