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Thank you Open Tuition and Sir Mike. I would like to ask though, would I miss one mark for accidentally deducting the URP from Revenue, instead of the preferred treatment of adding it to Cost of Sales? I mean the result for the Profit would be the same but Revenue would be underestimated.
oops! sorry I just saw the 3500.
this is a continuation of the previous question, to let you know i’, referring to the CSofCI eg 1
Hi Sir re the NCI’s 20% of 3500…how did you arrive at 3500?
Server not found: rtmpt://r.acca.opentuitioncom.netdna-cdn.com:80/play please help
i failed f 7 by 44 marks.
Am rily dissapointed.
@horeessran, So, practice, practice, practice!
could you kindly guide me as from where have you got the qn to solve this comprehensive example
@sattar786, Hi, I made the question up myself. To be honest, it’s probably more difficult than you’re likely to meet in a real F7 exam
@ sattar786, question used in this lecture is example 1 of chapter 10 from the notes.
hi sir, thanks you for this great explanation. i just have a little problem, when we include the proposed dividend 5000 in income statement, we also need to include it in current liability in SOFP. but isnt this against IAs rule, (stating that we should not include proposed dividend)
thank u for answering,
@evanuom, Hi, I believe that the question specifies that the dividend HAS need declared / proposed BEFORE the year end and is therefore correctly accounted for as a liability.
However, it’s a good point which you make and you need to watch out for this type of subtle nuance in exam questions
thank u for anaswering,
@evanuom, You only need to submit your questions once – they don’t have a better chance of being answered just because you post multiple times!
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