1 Analyze the flow of cost (CGS Statement) 2

2 Account for spoilage & rework of defective units resulting

3
from internal failure and customer specifications

Apply FIFO and Average methods on a single department

Table of
3
in computing for equivalent units of production (with lost
3
Specification
units) as well as the cost of transferred-out and units in- IAC 15_3RD
process at the end Comprehensive
Examination

4 Allocate the joint cost to main products using either

2
physical or monetary measurement and account for the
by-product of the joint processing

5 Compute the amount of long-term construction revenue 2

and realized gross profit

6 Compute the amount of franchise revenue/net income 2

7 Compute the transaction gain or loss of a foreign currency

4
denominated transaction (including derivatives &
hedging)

8 Compute the adjusted/unadjusted balance of the reciprocal

3
accounts

9 Compute the effect of interbranch transfer of merchandise

3
in the books of the home office and its branches

10 Compute the net income of the Agency 1

11 Compute the effect on selected accounts of the home

2
office and branch regarding shipments of merchandise at
at billed price)

12 Analyze theory questions regarding consolidation

5
procedures, application of formula(s) and working paper
entries.

13 Compute for the items in the Statement of Financial

2
Position immediately after the merger

Compute for the items in the Consolidated Financial