QCE AccountingPractice Examination 7

This paper covers

• Balance day adjustments (accruals, prepayments, depreciation, doubtful debts) and their effect on profit
• GST/BAS treatment and adjustment notes on Australian trading transactions
• Perpetual inventory system journals and accounts receivable/payable in a computerised trading environment
• Straight-line and reducing-balance depreciation calculations
• Bank reconciliation and adjustment of the cash at bank ledger
• Direct-method Statement of Cash Flows and classification of operating cash flows
• Full-suite ratio analysis (profitability, liquidity, stability, efficiency) of an ASX-listed public company
• Comparative and evaluative judgement of financial performance and position against prior year and industry benchmarks
• QCAA cognitions: recall, understand, apply, analyse and evaluate across Units 3 (Managing resources) and 4 (Accounting - the big picture)

Students are permitted to bring into the examination the materials normally allowed for this subject. Answer all questions in the spaces provided.

This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.