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Q.2 a) Using the knowledge you have acquired in this course and as per guidance from IAS I and IPSAS 1, what would you
Q.2 a) Using the knowledge you have acquired in this course and as per guidance from IAS I and IPSAS 1, what would you consider a complete final Accounts ready for publication? (5 marks) b) State what you would expect to find on the face of general financial statements. (6marks) c) Explain how you would interprete Financial statements to the different users of accounting information with illustrations. (6marks) d) As per IAS 16: PPE, how would you recognize your company's assets that were acquired with the intention of generating Revenue (e) Explain how you would treat debtors of business? Total 25 marks Q3. (4marks) (4marks) a) In your view, what would cause the cash book of an enterprise to disagree with the bank statement at the of month? (8 marks) b) Explain what you would include under Cost of sales of an enterprise during the preparation of final accounts for your organization? (4marks) c) What do you understand by a financial year as used in accounting and reporting? (3marks) d) How would you explain the meaning of accounting cycle" to someone with no accounting background? (10marks)
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