Under AASB 1039 and the Corporations Act, which of these does not have to be included in a concise financial report?

Select one:

a.

A copy of any qualification in the auditor's report

b.

Statement of cash flows

c.

Notes to the financial statements

d.

Directors report

As set out in IAS 1/AASB 101, there is a general requirement that the financial statements must provide comparative and corresponding financial disclosures for:

Select one:

a.

the previous three years.

b.

the previous twelve month period.

c.

the previous reporting period.

d.

the previous five years.

Under IAS 1/AASB 101 the statement of changes in equity must disclose how many of the following? - Total comprehensive income for the period. - A reconciliation between carrying amount at the beginning and end of the period for each item of equity. - Contributions by and distributions to owners, disclosed separately.

Select one:

a.

1

b.

3

c.

0

d.

2

How many of these expenses that would normally appear in an internally prepared profit and loss statement are required to be separately disclosed in an external statement prepared to conform to the requirements of the accounting standards? - Cleaning - Repairs and maintenance - Salaries and wages - Telephone expense

Select one:

a.

1

b.

2

c.

3

d.

4

Which statement is not true?

Select one:

a.

AASB 1039 Concise Financial Reports has an equivalent international standard.

b.

Except for concise reports prepared for listed companies each financial statement must be accompanied by some discussion and analysis.

c.

The concise report must comply with the accounting standards.

d.

Shareholders who receive a concise report can request a full report.

An interim report required to be prepared by a disclosing entity under IAS 34/AASB 134 Interim Financial Reporting is defined as a report for:

Select one:

a.

each half-year.

b.

each three months.

c.

nine months.

d.

a period shorter than a full reporting period.

What is the correct heading on a statement of financial position made up to 30 June 2016?

Select one:

a.

For the year ended 30 June 2016

b.

For the period ended 30 June 2016

c.

As at 30 June 2016

d.

30^th June 2016

What is an alternative name for the balance sheet?

Select one:

a.

Statement of financial position

b.

Statement of financial situation

c.

Statement of financial balances

d.

Statement of financial performance

Which category of revenue listed does not require separate disclosure under IAS 18/ AASB 118?

Select one:

a.

Royalties

b.

Revenue from the rendering of services

c.

Dividends received

d.

Rents received

Under the simplest sample format provided in the Implementation Guidance accompanying IAS 1/AASB 101, the final line in the statement of profit or loss and other comprehensive income is:

Select one:

a.

profit/loss for the period.

b.

profit/loss after tax and comprehensive income.

c.

profit/loss and other comprehensive income for the period.

d.

total comprehensive income for the period