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Quiz
1
Intermediate
If there are no movements to be modeled for Other Current Assets, how many calculations need to be constructed which will then directly link to the financial statements in order to make the Balance Sheet balance?
2
1
0
Don’t know
2
Intermediate
Why, after finishing all the line items in the three financial statements using the technique illustrated in our case study, is the financial model still not completed?
A check needs to be undertaken of Net Assets: if these are negative, further calculations must be made
The opening Balance Sheet items have not been copied back
An Indirect Cash Flow Statement has not yet been prepared
Don’t know
3
Intermediate
Assuming the Balance Sheet balanced before and our method of model preparation has been employed (i.e. using control accounts), what should the model developer do if the Balance Sheet does not balance after copying back the Opening Balance Sheet values?
Check each line item in the Opening Balance Sheet links once and only once to the Balance Sheet
Check each line item in the Opening Balance Sheet links once and only once to the correct Control Account, or where there are no movements, the Balance Sheet
Check each line item in the Opening Balance Sheet links to the correct Control Account, or where there are no movements, the Balance Sheet
Don’t know
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