QCE AccountingPractice Examination 8

This paper covers

• Perpetual-inventory recording for a GST-registered trading business: FIFO cost flow, GST Clearing, general journal and ledger postings (Unit 3)
• Balance day adjustments: straight-line and reducing-balance depreciation, disposal of a non-current asset, prepayments, accruals and doubtful debts (Unit 4)
• Fully classified financial statement preparation and the direct-method Statement of Cash Flows classification (Units 3 & 4)
• Full suite of ratio analysis - profitability, liquidity, stability and efficiency - for an ASX-listed public company (Unit 4, Topic 3)
• Comparative and evaluative judgement of financial performance and position against prior-period results and industry benchmarks
• Queensland / Australian context: a Perth-based mining-services public company (Pilbara Drill & Blast Ltd) benchmarked against a Queensland competitor (Bowen Basin Mining Services Ltd)
• QCAA cognitions Recall, Understand, Apply, Analyse and Evaluate assessed through combination-response format (10 MC + 3 short/extended response)

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.