Comments

  1. avatar says

    Hi

    Calculating the PUP for part (ii) of the question, I managed to obtain an un-realised profit of £400. When producing the final balance sheet would we not reduce the TNCA and retained earning, and increase the cost sales.

  2. avatar says

    And BPP has modified (i) – FV adj of land. It’s not land but a customer contract of S. As for land, there is a fair value of the contract. I’ve never met such situation. I’m used to dealing with land or ppe FV. So when I see customer contract, I don’t think of FV adj. Lesson learned from this is, I’ll consider to do FV adj as long as I see there is sth. with a FV. :)

  3. avatar says

    I just don’t get why profession costs relating to acquisition should be deducted from P’s ret’d ears. I’m clear that it’s one time cost, but why we should put “=” between ” it’s included in the cost of investment” and “it’s included in ret’d ears and should remove it”? Thank you!

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