F1 Exam Dumps : Financial Reporting

A new credit controller was appointed during the year ended 30 June 20X3 who has been chasing customers for payment.

A system of early settlement discount was introduced during the year ended 30 June 20X3 which was taken up by quite a few customers.

One customer who regularly took 120 days to pay their invoices stopped buying goods from ABC during the year ended 30 June 20X3.

It was decided during the year ended 30 June 20X3 to stop undertaking credit checks on new customers.

The objective of financial statements

Specification of the financial statements that must be presented

Qualitative characteristics of financial statements

Definition of the headings to use in financial statements

The elements of financial statements

The formats of financial statements

business profits where the tax is paid by the shareholders to the tax authorities.

dividends paid to shareholders where the tax is paid by the business to the tax authorities.

dividends paid to shareholders where the tax is paid by the shareholders to the tax authorities.

business profits where the tax is paid by the business to the tax authorities.