CAP2 Financial Reporting AMA by Chartered Accountants Ireland https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r This forum is for queries relating to CAP2 FR material. You must include the session and question number your query relates to. en-us 2020-06-17 13:25:20 UTC 2026-03-07 16:56:31 UTC hello@padlet.com https://images.unsplash.com/photo-1559589689-577aabd1db4f?ixlib=rb-1.2.1&ixid=eyJhcHBfaWQiOjc4MjZ9 Use the columns to your right to ask any questions you have having worked through the FR material. Please ensure you detail the session and question number so we can prepare a response and address it during the AMA. Use the upvoting button so we can identify which questions you deem as the most important. Education_Delivery https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/630552401 (Please note; this is not a revision session and full question calculations will not be worked through).]]> 2020-06-17 13:31:29 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/630552401 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637315787 2015 Autumn question 3 issue 1.can you go through the cost of sales for 2013 & 2014. ]]> 2020-06-23 10:57:27 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637315787 Step by step https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637317799 could you write out step by step how to do consolidation question, what to do first, second etc, how to approach consolidation question. ]]> 2020-06-23 10:59:35 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637317799 Disclosure note https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637679982 How to draft a disclosure note]]> 2020-06-23 16:17:14 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637679982 How to work on consilidation when the Subsidary dividend is recognised as Other Income in Parents PNL. https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637686847
How to account for Dividend declared by Associate or JV in consolidation PNL and CRE?]]> 2020-06-23 16:23:50 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637686847 Should we take the Overdraft balance of subsidary when calculating Consol cashflow? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637700125  ]]> 2020-06-23 16:36:46 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637700125 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637700761 Any steps that can help us to calculate Deffered Tax Asset/liability?]]> 2020-06-23 16:37:25 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/637700761 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638484757 For the interim assessment you provided us with a breakdown of what topics came up in each question in previous exams. Is there any chance you could provide something similar for the main exam please?]]> 2020-06-24 08:30:48 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638484757 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638563843 can you do a question of Defined contribution ? cant find one in question pack]]> 2020-06-24 09:59:58 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638563843 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638564250 IFRS15 Variable considerations question]]> 2020-06-24 10:00:29 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638564250 How to calculate the FX translation reserve and the amount to be included within other comprehensive income when the FX subsidiary was purchased more than 1 year ago? Example would be the FX consolidation question from the 2020 Mock. https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638641161 2020-06-24 11:44:44 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/638641161 Under IAS 38, If the Development Costs/Expenditure incurred during the reporting period qualifies in the reporting period to be classified as a Asset, Should we amortize the Expenditure part that is qualified or should we amortize that only from the next reporting period? Eg: in Autumn 2018, PEC report doesnt amortize the CY development Expenditure. Can you please go through this Question? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/639259835 2020-06-24 21:17:43 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/639259835 Summer 2014 Q2. https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/639806250 Why is there no premium/gain on bargain purchase calculated for the associate's investment figure to go in CSOFP?]]> 2020-06-25 09:42:37 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/639806250 In Summer 2017 Paper Q2 how was goodwill of €1,308 calculated as part of the disposal working? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640016459 2020-06-25 13:57:49 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640016459 Consolidation general question https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640047650 From what I believe if there are inter-company amounts owed Between parent and subsidiary at year end there IS an elimination. Can you explain exactly what would happen here and how you would go about this elimination eg what working would have to be done, what workings would it hit ( Reserves, Goodwill ect) where it would be placed in the SOFP and/or SOPL??]]> 2020-06-25 14:24:07 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640047650 Autumn 2019 Q1 Adjustment 3 in TB https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640195183 Where in the question do these figures come from? ]]> 2020-06-25 16:36:57 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640195183 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640306479 Summer 2014 q3 issue 1

How do you know if something is a DT asset or liab?]]> 2020-06-25 18:35:57 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/640306479 Impairment Calculation elainehughes14 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641038909 2019 Mock Paper 
Question 1 - Schedule note 3
How is the Value in Use calculated?]]> 2020-06-26 13:34:11 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641038909 In thee 2016 mock, when calculating the goodwill on the subsidiary you only include 120k as part of the revalue reserve. The figure in the SOFP is 240 and in the SPLOCI there is a revalue gain of 120. Since we are not told when that revalue occurred why do you assume it was at before the acquisition and not take it into account when calculating goodwill? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641609733 2020-06-27 09:47:05 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641609733 Session 4 Question Bank Q3 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641616499 I don't understand where the consideration figure of €1,900,000 comes from when calculating goodwill]]> 2020-06-27 10:14:05 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641616499 Why do you not include goodwill on the acquisition of an associate in the SOFP figure? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641630443 2020-06-27 11:09:12 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641630443 General - Adjusting Journals https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641670163 When doing 'correcting entries' - is it ok to reverse the full amount and then do the entry as it should have been (instead of just adjusting by the correcting amount)?]]> 2020-06-27 13:18:54 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641670163 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641700336 Session 1 Question Pack - IAS 12 current tax review question 1 (c) 
Why does the closing balance total to€98,500
]]> 2020-06-27 14:32:35 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641700336 Is there anywhere that sample disclosure notes for each standard can be found other then using a set of financial statements? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901014 2020-06-28 00:24:25 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901014 any tips for doing a FX consol quick on a laptop? I typed mine for my mock to get practice and I found with having to type out the financial statements for the translations as well as the solution it took a lot more time then I have in an exam https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901200 2020-06-28 00:25:33 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901200 Session 5 Mock 2016 Consol https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901663 How do you calculate the opening balance of retained earnings/NCI when there is an associate involved which was acquired in prior year?]]> 2020-06-28 00:27:56 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641901663 Is it ok to use an extended trial balance as your answer as like the mock solution? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641902535 2020-06-28 00:31:40 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/641902535 Session 12 deferred tax question in the pack Past Exam question 4 Summer 14 Dant https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642110738 Please go over, I can't agree my workings with the answer given]]> 2020-06-28 10:48:25 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642110738 In 2014 question 1, the Investment propery had a revalue reserve of 320. When impairing the Investment property, you dr admin expenses and remove the revalue reserve in its entirety - why did you do this? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642132542 2020-06-28 11:43:18 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642132542 Session 12 Deferred Tax https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642209745 For development costs - if fully claimed for tax purposes is the tax base nil? 

]]> 2020-06-28 15:02:14 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642209745 Summer 2014 Q1 note 1: why did you not amortise the intangible asset in proportion to the cashflows over the next 5 years instead of a straight basis as is done? It was apportioned in the review questions. https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642210078 2020-06-28 15:02:56 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642210078 Session 5 Mock 2016 Consol https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642212428 How did you get reval gain of 40 per the SOPLOCI? 
 ]]> 2020-06-28 15:08:40 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642212428 Are there any more questions available for us to practice? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642215653 2020-06-28 15:15:21 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642215653 Are there any more questions available for us to practice? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642215783 2020-06-28 15:15:42 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642215783 S'19 Q3 issue one IFRS 2 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642216911 For the number of employees for 2018, why is it 752 in 2018? If 48 had left and 2 more were expected to leave - would this not give you 50 and so a total of 750 employees entitled to the share options for 2018?  ]]> 2020-06-28 15:18:31 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642216911 Can you go through Paper summer 14 Q3 issue 2 option B calc. please? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642219992 2020-06-28 15:25:33 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642219992 can you show the possible situation that can occur for interco bal eg. TR, CIT,GIT etc. for both parent & sub , Parent & Assoc. thanks https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642221567 2020-06-28 15:29:10 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642221567 In the case study question, do need to take account of the 5% of the debenture into the interest payable? Can you show how finance payable can be calculated? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642222415 2020-06-28 15:30:42 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642222415 can you show to how calculate the amount of profit and oci attributable to Parent and NCI in a finalised fx consol? https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642223190 2020-06-28 15:32:17 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642223190 Case study Question https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642271275 In Autumn 2017 Q1. For note 2 IFRS 15 the solution divides the amount to be recognised In FY 16 by 2 in order to reflect that members joined evenly during the year. Would you be able to explain this further? And why it is done? Thanks! ]]> 2020-06-28 17:16:16 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642271275 https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642291753 Mock 20, Q4 issue 1

Can you go through how to calculate NCI at the date of disposal please]]> 2020-06-28 17:58:21 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642291753 Can you do Q3 issue 1 for summer 18 please? I would know to know why net current asset were include in carrying value for impairment calc? I thought only non current asset carrying value are used in impairment calc. https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642344336 2020-06-28 19:52:19 UTC https://padlet.com/Education_Delivery/cnmrf9tm8ombzj4r/wish/642344336