IPSAS 10 282 from the beginning of the reporting period in which it identifies the existence of hyperinflation in the country in whose currency it reports. SECTION B – Answer THREE questions out of four QUESTION 2 Quelch plc, a company engaged in oil and gas transportation, has 150 million shares in issue, which are currently trading at a market price of 800 pence each. 6. (a) (i) True. To perform Dividends paid on equity and preference capital. 244 Accountancy : Company Accounts and Analysis of Financial Statements Cash Outflows from financing activities Cash repayments of amounts borrowed. answers to these and other questions. Five example questions from the Certificate in International Public Sector Accounting Standards (CertIPSAS) assessment. It provides a summary of the responses received to the public consultation and analysis of the answers to the questions on which the Review Group requested the respondents’ views. Controlled entity is an entity that is under the control of another entity Graph paper (if required) is provided at the end of the answer booklet. Countries are therefore encouraged It is important to mention here that a transaction may include cash flows International Public Sector Accounting Standards Board (IPSASB) - Summary of Responses, was developed and approved by the Review Group. 6. IPSAS are recognized and accepted by international bodies such as the UN, World Bank, IFAC etc. IPSAS 1 — PRESENTATION OF FINA NCIAL STATEMENTS 50 Control is the power to govern the financial and operating policies of another entity so as to benefit from its activities. If you knew the answer, click the green Know box. IPSAS GAP analysis tool 2. 7. When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again. Use these flashcards to help memorize information. Questions •Should the transactions be recorded and presented and /or disclosed in governments ... World Bank support for IPSAS 1. Interest paid on debentures and long-term loans and advances. Look at the large card and try to recall what is on the other side. Partnership, funding and promotion a. IPSAS adoption guideline (Botswana) b. The “Preface to International Public Sector Accounting Standards” issued by the International Public Sector Accounting Standards Board PFM Staff capacity development 3. Promote: Bank projects apply IPSAS … Otherwise, click the red Don't know box. Divestiture is the partial or full disposal of an investment or asset through sale, exchange, closure or bankruptcy. International Public Sector Accounting Standards (IPSAS) to regulate government accounting in response to calls for greater government financial accountability, transparency and value relevance. The correct answer is D. IPSAS 26 definition paragraph 13. 8. All workings must be done in the answer booklet. IPSAS (the content, scope, application and disclosures). The marks shown against the requirement(s) for each question should be taken as an indication of the expected length and depth of the answer. 9. The company is considering the takeover of Bunter plc, a pipeline manufacturer. Firm managers use accounting information to help them manage the fi rm. Suggested Answers to Question — BVM 3 Answer 1. This chapter focuses on the interpretation and analysis of fi nancial statements. Investors and creditors use accounting information to evaluate the fi rm. 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