F7 Exam Tips:
Q1 Consolidated statement of financial position (with possible statement of profit or loss). Adjustments to include: PURP, share exchange, current accounts, impairment, revaluation, fair value adjustment
Q2 Published accounts to include statement of profit or loss, statement of financial position and statement of changes in equity from trial balance. Possible adjustments to include: revenue recognition, depreciation, revaluation, tax & deferred tax, convertible loan, share issue.
Q3 Statement of cash flows with interpretation element.
Q4/Q5 Qualitative characteristics, finance leases, intangible assets, events after the reporting date, earnings per share.