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I have a school exam on the day of the ACCA exam, if i decide not to write the exam, would ACCA keep a spot for the june 2014 due to the fact that i paid for a sit in this december exam?
No, sorry, that would be MOST unlikely.
Three days before the exam and I’m Googling the history of the channel tunnel! doh!
Really so helpful resources.
HI Admin, please can you download the lectures on your electronic device like your iphone or Ipod so that you can listen to it on the go.
you can listen on the go on your iPhone
lectures work on 3G
and are not downloadable
Thanks for the reply..
I really respect this lecturer. Thanks A Lot Open tuition for providing us these great lectures. Thanks Again
Great lecture and great lecturer!
Hi, this is relating to the example 1 Tomas and Iveta.
In it 300k is earned if 60% of the work is completed by the end of year 2.
In part (a) one outcome is 63%. So Tomas can get the 300k extra in the first year. But in the second year ( part b) the stage of completion is 68%. But in the solution 300k is again added. Isn’t the 300k an oneoff payment? Isn’t recognising 300k again, is exagerating revenue?
I seem to remember that the revenue figure is intended to be the cumulative amount to be recognised. To arrive at the figure for revenue for the second year, you need to take the accumulated figure for the end of year two and deduct from that the figure as at the end of year one.
In that way, you’ll see that the 300,000 is included in only one Statement of Income
@dimuthu1234, If you had read the previous post immediately below this reply, you would have seen the answer for yourself!
sir why we take 100% of 300000 because it is for year2
@acuteacca, which example?
@MikeLittle, Is this the question involving Tomas and Ivets? The $300,000 on that question is the agreed element of the contract in the situation that the contract was at least 60% complete by the end of year two. In that part of the answer, it starts with the assumption that the contract was 65% complete.
However, it must be remembered that both revenue and costs at the end of year two are cumulative and, for the purposes of the Statement of Income, both those line items need to be reduced by the amount recognised in year 1. Thus, if the revenue to be recognised by the end of year 2 were ( 65% * 1,000,000 ) + 100% * $300,000 bonus … so $950,000, and suppose the revenue recognised in year 1 Statement of Income had been $270,000, the revenue to be recognised in year 2 is $950,000 – $270,000 = $680,000
@MikeLittle, Thanks ….
oh ok, thanks
lectures are not working why you are using a video hosting server simply host file in root directory of server we are facing problems in lectures please do something admin……………………….
@acuteacca, Lectures are working fine
check your PC/ internet etc.
sir please explain the straddle………………………………….
@acuteacca, what straddle?
@MikeLittle, ok, “to straddle” has a number of dictionary definitions included amongst which are these two:-
a) to stand, walk or sit with the legs apart
b) to spread the legs apart
Right – hold that image in your mind. In the context of a contract which “straddles” two or more accounting periods, the verb suggests that some part ( may be, or may be not, a half ) lies within one accounting period and the rest ( or part of the rest ) lies within subsequent accounting periods.
Does that answer your straddle query?
Very helpful. I hope this site is around for a long time.
this is amazing! keep it up good people!
lectures are quite good, is it possible to download these video lectures
@dmapiye, sorry these lectures are available online only
Very helpful, great!
well explained. thanks so much!
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