Which of the following best describes the purpose of disclosure notes in the financial statements?

For which class or classes of assets should a company disclose in the notes to the financial statements a reconciliation of the opening carrying amount to the closing carrying amount, showing the movements in the period?

1. Cash
2. Intangible assets
3. Tangible non-current assets
4. Trade receivables

Which of the following are required as disclosures by IAS 2 Inventories?

1. The amount of write-downs of inventories in the period that have been recognised as an expense
2. The original cost of inventories that are carried at net realisable value
3. The carrying amount of inventories classified by type (for example, raw materials, work in progress)

Which of the following statements is/are correct?

1. IAS 37 requires disclosure in the notes to the financial statements of the uncertainties affecting the outcome of a provision
2. IAS 10 requires disclosure of the nature and financial effect of a non-adjusting event after the reporting period in the notes to the financial statements

A certain IFRS requires that the following disclosure is made in a note to the financial statements:

1. A brief description of its nature
2. Where practicable an estimate of the financial effect
3. An indication of the uncertainties relating to the amount or timing of any outflow
4. The possibility of any reimbursement

Which of the following does the above disclosure apply to?

Which of the following should be disclosed in the note to the financial statements for tangible non- current assets?

1. The market value of all assets classified as tangible non-current assets, whether they have been revalued or not
2. A reconciliation of the carrying amount of non-current assets at the beginning and end of the period
3. For revalued assets, the methods and significant assumptions applied in estimating the fair value
4. For revalued assets, the carrying amount of each class of assets that would have been included in the financial statements had the assets been carried at cost less depreciation

Which one of the following is a disclosure about non-adjusting events required by IAS 10 Events After the Reporting Period?

Which of the following should be disclosed in the note to the financial statements for intangible assets?

• The method of amortization used
• A reconciliation of the carrying amount at the beginning and end of the period
• The useful life of the assets
• The net realizable value of any deferred development costs capitalized

Which of the following should be disclosed in the note to the financial statements for inventories?

1. The date the inventories were purchased or manufactured and/or how long they have been held as inventories
2. The amount of inventories carried at net realisable value
3. The accounting policies adopted in measuring inventories
4. The useful life of the inventories