Final Exam 2008
Content
SECTION A – FINANCIAL ACCOUNTING Q.1 The balance balance sheet of JINJI Limite fo! the "ea!s "ea!s ene #$th Se%tembe! Se%tembe! &$$' an &$$( sho)*+ 2006 €000s
2007 €000s
18,451 3,329
27,401 8,636
15,122
18,765
34,214 32,987 1,543 9,818
36,544 63,147 1,988 7,434
78,562
109,113
93,684
127,878
50,000 23,554
62,000 39,322
73,554
101,322
9,650
11,235
9,650
11,235
7,182 1,111 2,187
8,762 1,124 5,435
10,480
15,321
93,684
127,878
ASSETS NON-CURRENT ASSETS At cost Less:- Depreciation
CURRENT ASSETS Stocks Trade Detors !nterest "ecei#a$e %as& at ank
Total Assets
EQUITY & LIABILITIES 'rdinar( S&are %apita$ )ro*it + Loss Accont
Liabilties falling due after more than one year S.% Loans
Liabilities falling due within one year Trade %reditors !nterest )a(a$e Ta/ation
Total Equity and Liabilities
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
and the profit and loss account for the respective years disclosed the following results
2006 €000s
2007 €000s
Sa$es %ost o* Sa$es
121,575 86,926
145,975 97,073
!ross "rofit Adinistrati#e e/penses Se$$in + Distrition e/penses
34,649 15,805 9,726
48,902 18,977 11,678
9,118 1,564 726
18,247 1,876 921
9,956 1,724 8,232
19,202 3,434 15,768
#perating "rofit !nterest !ncoe !nterest %&ares "rofit $efore ta%ation Ta/ation "rofit after ta%ation
&ou are re'uired to prepare a (ash )low *tate+ent for the year ended 30th *epte+$er 2007 in accordance with -* 7 . (ash )low *tate+ents
("# $a%s!
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
Q.& /sing the sa+e infor+ation given in uestion 1 you are re'uired to calculate the following profita$ility, li'uidity and efficiency ratios for $oth 2006 and 2007. 1 ross )ro*it arin 2 'peratin )ro*it arin 3 "'% oners perspecti#e 4 orkin %apita$ "atio 5 Acid Test "atio 6 earin "atio Tota$ inancia$ Det 7 Detor Da(s 8 %reditor Da(s - (o are to asse t&at t&e openin stock *ire drin 2006 as ;32,564 N.B. with the exception of (7) and (8), aboe, present your answers up to two decimal places.
(' $a%s! <o are a$so re=ired to coent on t&e ratios ca$c$ated indicatin &at t(pe o* coparison is in#o$#ed &ere>
() $a%s!
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
%&oose eit&er 3a or 3 3a an( are o* t&e opinion t&at ?%AS !S @!?> !ndeed, a set o* *inancia$ stateents o$d not e cop$ete it&ot t&e presentation o* a cas& *$o stateent %S> !denti*( t&e t&ree ain coponents o* a %S as per !AS 7 and e/p$ain to a non-accontant &at eac& o* t&e coponents portra(s>
3$ )ararap& 9 o* t&e !AS. *raeork *or t&e )reparation and )resentation o* inan cia$ Stateents, identi*ies di**erent e/terna$ sers o* *inancia$ stateents> Se$ect t&ree o* t&e and discss &at partic$ar in*oration t&e( o$d $ook *or in a t(pica$ set o* *inancia$ stateents>
('# *a%s!
2007 €000s
18,451 3,329
27,401 8,636
15,122
18,765
34,214 32,987 1,543 9,818
36,544 63,147 1,988 7,434
78,562
109,113
93,684
127,878
50,000 23,554
62,000 39,322
73,554
101,322
9,650
11,235
9,650
11,235
7,182 1,111 2,187
8,762 1,124 5,435
10,480
15,321
93,684
127,878
ASSETS NON-CURRENT ASSETS At cost Less:- Depreciation
CURRENT ASSETS Stocks Trade Detors !nterest "ecei#a$e %as& at ank
Total Assets
EQUITY & LIABILITIES 'rdinar( S&are %apita$ )ro*it + Loss Accont
Liabilties falling due after more than one year S.% Loans
Liabilities falling due within one year Trade %reditors !nterest )a(a$e Ta/ation
Total Equity and Liabilities
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
and the profit and loss account for the respective years disclosed the following results
2006 €000s
2007 €000s
Sa$es %ost o* Sa$es
121,575 86,926
145,975 97,073
!ross "rofit Adinistrati#e e/penses Se$$in + Distrition e/penses
34,649 15,805 9,726
48,902 18,977 11,678
9,118 1,564 726
18,247 1,876 921
9,956 1,724 8,232
19,202 3,434 15,768
#perating "rofit !nterest !ncoe !nterest %&ares "rofit $efore ta%ation Ta/ation "rofit after ta%ation
&ou are re'uired to prepare a (ash )low *tate+ent for the year ended 30th *epte+$er 2007 in accordance with -* 7 . (ash )low *tate+ents
("# $a%s!
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
Q.& /sing the sa+e infor+ation given in uestion 1 you are re'uired to calculate the following profita$ility, li'uidity and efficiency ratios for $oth 2006 and 2007. 1 ross )ro*it arin 2 'peratin )ro*it arin 3 "'% oners perspecti#e 4 orkin %apita$ "atio 5 Acid Test "atio 6 earin "atio Tota$ inancia$ Det 7 Detor Da(s 8 %reditor Da(s - (o are to asse t&at t&e openin stock *ire drin 2006 as ;32,564 N.B. with the exception of (7) and (8), aboe, present your answers up to two decimal places.
(' $a%s! <o are a$so re=ired to coent on t&e ratios ca$c$ated indicatin &at t(pe o* coparison is in#o$#ed &ere>
() $a%s!
SECTION A – FINANCIAL ACCOUNTING
(ontinued!
%&oose eit&er 3a or 3 3a an( are o* t&e opinion t&at ?%AS !S @!?> !ndeed, a set o* *inancia$ stateents o$d not e cop$ete it&ot t&e presentation o* a cas& *$o stateent %S> !denti*( t&e t&ree ain coponents o* a %S as per !AS 7 and e/p$ain to a non-accontant &at eac& o* t&e coponents portra(s>
3$ )ararap& 9 o* t&e !AS. *raeork *or t&e )reparation and )resentation o* inan cia$ Stateents, identi*ies di**erent e/terna$ sers o* *inancia$ stateents> Se$ect t&ree o* t&e and discss &at partic$ar in*oration t&e( o$d $ook *or in a t(pica$ set o* *inancia$ stateents>
('# *a%s!
