Task 1 (40 Marks)
Using the information in Section 1, provide the necessary journal adjustments in
accordance with International Financial Reporting standards (IFRS) to correct the draft
single entity financial statements of JJ Gen Plc. for the year ended 30 September 2019.
In a separate document please provide:
? Workings carried out to calculate any adjustments. These should be clearly
presented for ease of reference
? Succinct explanatory notes for any adjustments referencing IFRS and the
Conceptual Framework where relevant (The use of bullet points is
(Word count guidance: 600 words)
Task 2 (40 Marks)
Taking into consideration the additional information provided in section 2, prepare:
? Consolidated Statement of Profit or Loss and
? Consolidated Statement of Financial Position
for JJ Gen Group as at 30 September 2019 in accordance with IFRS.
Please provide additional workings which are clearly laid out for ease or reference.
Prepare notes which explain:
? The purpose of preparing consolidated financial statements.
? Goodwill, its recognition and measurement.
? The treatment of Angel Ltd. in the consolidated financial statements.
(Word count guidance: 400 words)
Task 3: (20 marks)
Review the email sent to you on page 15 by a new Non-executive Director, Jessica
Wang, along with the additional information provided in Section 3.
Prepare a briefing note as requested.
(Word count guidance: 1,000 words)
Note: The word count does NOT include words included in calculations, workings,
table headings, graphs, references, quotes, bibliography or appendices.
Word limits can be flexed by +/-10%