Question 16

In recent years EBITDA has been adopted by large entities as a key measure of performance. The following figures have been extracted from the financial statements of UV for the year ended 30 November 20X9:

What is EBITDA for UV for the year ended 30 November 20X9?
Give your answer to the nearest $'000.

Question 17

Which TWO of the following are relevant ethical considerations when selecting an accounting policy?
  • Question 18

    LK acquired 100% of the equity shares of TU on 1 January 20X4. LK disposed of 60% of TU for £2,400,000 on 30 September 20X4. The sale proceeds reflected the fair value of TU's shares on that date.
    The remaining 40% shareholding gave LK the ability to exercise significant influence over the activities of TU. TU reported profit of $1,800,000 for the year ended 31 December 20X4 and this accrued evenly throughout the year.
    Calculate the investment in associate that will be presented in LK's consolidated statement of financial position as at 31 December 20X4.
    Give your answer to the nearest whole $'000.
    $ 000

    Question 19

    HJ is currently in dispute with an employee, who is claiming $400,000 in a legal case against them.
    HJ's legal advisors have stated that it is probable that they will lose the case and will have to pay the amount claimed.
    Also, HJ are claiming $250,000 from a supplier of defective goods and the legal advisors have stated that it is probable that HJ will be successful in this claim.
    What is the correct accounting treatment for these two items in HJ's financial statements?
  • Question 20

    Calculate the value of non controlling interest that will be presented in KL's consolidated statement of financial position at 31 December 20X9?
    Give your answer to the nearest whole $'000.
    $ ? 000