CIMA BA3 - Fundamentals of financial accounting

Accountant P debited wages with £1,000 instead of £1,500, but credited sales with £1,500 instead of £2,000.

Which of the following kind of bookkeeping mistakes is this?

In a cash flow statement, which one of the following would not be found under the section "cash flows from operating activities"?

Accounting records should be kept by all businesses for many reasons.

Which THREE of the following are reasons for keeping accounting records?

Refer to the exhibit.

ABC has the equity balances at the end of year 1.

During year 2 ABC issues 100,000 new shares at a price of $1.10

What is the balance on share premium at the end of year 2?

Fraud will only be prevented successfully if potential fraudsters perceive the risk of detection as high.

Which THREE of the following are ways to prevent fraud?

A club receives subscriptions during 2006 of £4600. Of these £500 related to subscriptions in respect of 2005 and £400 related to subscriptions in advance for 2007.

The accounts for 2005 included an accrual of £600 for subscriptions in arrears; the balance of £100 which has still not been received, should be written off.

The figure for subscriptions in the income and expenditure account for 2006 will be

A business has expanded rapidly during the current year. As a result the accounting records have been building up and the management accountant is having problems producing reports for each department head.

Which of the following would be the best solution if introduced?