VCE AccountingPractice Examination 9

This paper covers

• Perpetual FIFO inventory recording and reconciling records to a physical stocktake (inventory loss/gain, write-down)
• Balance-day adjustments: prepaid and accrued expenses, straight-line and reducing-balance depreciation
• General Journal, ledger and disposal of a non-current asset with correct GST treatment
• Cash Flow Statement (direct method) reconciling to the Cash at Bank ledger
• Classified Income Statement with balance-day adjustments and profitability indicators
• Cash budget construction and interpretation as a planning/control tool
• Classified Balance Sheet satisfying the accounting equation, with liquidity and gearing analysis
• Ethical considerations and the qualitative characteristics / accounting assumptions underpinning judgements

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.