ICAEW/ACA Study guides, Class notes & Summaries

Dr/Cr - ICAEW ACA Accounting(Generic) Cash paid during the year in expense ledger - correct answer "Dr Expense Cr Cash " (Generic) Cash paid received the year in income ledger - correct answer "Dr Cash Cr Income " Calculate whether a closing accrual is required - correct answer "Dr Expense Cr Accruals " Calculate whether a closing accrued income adjustment is required - correct answer "Dr Accrued income Cr Income " Calculate whether a closing prepayment is requ...

ICAEW - ACA - BPT - Schemes for investment by individuals What are venture capital trusts, enterprise investment schemes and seed enterprise investment schemes - correct answer Tax reducers deducted from the tax calculated to give income tax liability Who can invest in a venture capital trust - qualifying individual - correct answer Individual over 18 subscribing for newly issued shares What must be invested in for a venture capital trust - qualifying company - correct answer Company o...

ICAEW - ACA - F.M. - Financing options - Equity sources and dividend policy (chapter 7)What are the 3 main methods of raising the equity finance If a firm is looking to finance a project through equity - correct answer retained profits in which case dividends may be cut. rights issues. new issues. What must you remember - correct answer that the cost of servicing the equity i.e. k.e will be the same regardless of the historic source of the funds. Why is this - correct answer because the...

ICAEW - ACA - F.M. - Managing financial risk: Overseas trade Foreign exchange risk - correct answer transaction risk Transaction risk - correct answer the risk that an exchange rate will change between the transaction date and the subsequent settlement date i.e. it is the gain or loss arising on conversion. What does transaction risk occur on - correct answer Imports and exports? Give an example of transaction risk on imports part 1 - correct answer for example, a firm enters into ...

ICAEW - ACA - F.M. - Investment - Overview (chapter 1)Strategy - correct answer the long term direction of the business and how the objectives of the business are achieved Business strategy - correct answer Focuses on ensuring objectives are achieved taking account of. fit with the environment. resources available. stakeholder concerns. Financial strategy - correct answer Focuses on the financial decisions required to achieve the business strategy. investment decisions. financing decis...

ICAEW ACA LawWhat is the difference between civil law and criminal law? civil law: claimant and defendant criminal law: prosecution and accused true or false: the party brining a civil case to court is known as the prosecution false what is the party in court who is charged with a criminal offence known as? the defendant To what contract would the UN Convention on Contracts for the International Sale of Goods (UNCISG) apply? the sale of commercial vans from a manufacturer in ...

ICAEW ACA AccountingUsers of Accounting - correct answer Any organization/business/individual who needs to keep track of their income, expenses, assets and liabilities. Types of Business Entity - correct answer • Sole trader • Partnership • Limited Liability Companies Stakeholders for financial information - correct answer • Managers/Directors • Owners of the company • Trade contracts • Finance providers •HMRC Year-end capital Equation - correct answer Bal. at ...

ICAEW ACA Accounting Accounting - correct answer A way of recording, analyzing and summarizing transactions of an entity. Statement of Profit and Loss - correct answer It reflects the performance of a business over a period of time. Statement of Financial Position - correct answer It reflects the position of a business at a point in time. Users of Accounting - correct answer Any organization/business/individual who needs to keep track of their income, expenses, assets and liabiliti...

ICAEW ACA Accounting Questions and Answers Rated A+ Accounting A way of recording, analysing and summarising transactions of an entity. Statement of Profit and Loss It reflects the performance of a business over a period of time. Statement of Financial Position It reflects the position of a business at a point in time. Users of Accounting Any organisation/business/individual who needs to keep track of their income, expenses, assets and liabilities. Types of Business Entity •...

ACA [ICAEW] – ACCOUNTING 2024 SOLVED QUESTIONS WITH 100% CORRECT ANSWERS!!