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ACCA F7 lectures F7 notes
November 15, 2015 at 5:58 pm
Firstly just to say, thanks for the lectures, they are a huge help.
I have a question which relates to the fair value adjustments in the retained earnings. Your example makes perfect sense to me and I used this approach to try to answer question 2 part c of the December 2014 specimen paper. In that question you have to create an extract of the Equity section of the consolidated statement of financial position, however in the answer that is provided by ACCA they have not adjusted the retained earnings for the fair value adjustment of the item of plant. So now I am confused, unless I have misunderstood their question I cannot see the difference.
Guidance would be much appreciated, as I am now worried I will get this wrong in the exam. Please let me know if I need to post the actual question here, I was hoping you may be familiar with it.
July 3, 2015 at 3:59 pm
Many thanks to you and Open Tuition for your support.
I was trying to do example 11 of page 46 of the course notes using revaluation surplus. However, I just can’t seem to get to the bottom of it.
Could you please show me how?
I am not a great student, but would like to learn.
May 13, 2015 at 11:06 am
Hi Mike, How did we arrive at $18,000 for the depreciable non-current Asset over 5 years. plus can u please explain a real life example of a non-depreciable current Asset and their features and accounting procedures, entries
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