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February 28, 2016 at 11:27 pm
I’m stuck on a question from BPP Study text, where they have given us an extract of the SOCIE, where we have O/B and Closing balance for RE but using your method I cannot tie back the RE to the Comp. income statement or Profit figure from W3
Do you think you will be able to help?
Thanks in advance,
February 29, 2016 at 9:09 am
Is it possibly a dividend that has been accounted for but not shown in an obvious way?
March 2, 2016 at 10:10 pm
don’t know, I’ll give it a go again. Thanks
December 5, 2015 at 6:32 am
In chapter 10 example 2
I dont understand why PUP is zero yet Lina sold to Sigimantas at goods worth 4000 at a mark up of 25%
December 5, 2015 at 6:40 am
sorry got it. its because all goods have been sold.
May 30, 2015 at 3:38 pm
In chapter 10 example 2 when you are working out group retained earnings why do you not add in proposed dividend receivable 60% x 5000?
November 25, 2014 at 3:16 pm
Sir, should we include NCI dividends ($2000) in statement of IC (not $3,920 but $1,920) as it is shown in statement of changes in equity?
November 25, 2014 at 3:55 pm
No, dividends are not an expense of a company. A dividend is an appropriation of profits, not an expense
October 31, 2013 at 5:40 pm
Instead of deducting 4000 from each revenue and COS..shouldn’t 5000 have been deducted? Surely the sale was made at 5000 so if I deduct 4000..wouldn’t that make my revenue overstated by 1000?
Please sir Mike need your help!
October 31, 2013 at 6:14 pm
which chapter, which example?
November 5, 2013 at 1:39 pm
chapter 10, example 2.
The line before the requirement, ‘During the year Lina sold $4000 worth of goods at a mark up of 25% to Sig…’
September 24, 2013 at 2:18 pm
Oooops, I had also worked out pup. I have only one question though, Mike, is it allowed if we just ignore inter group sale since they make no difference to arrive at Op profit?
September 24, 2013 at 2:57 pm
Sure it’s allowed. However!!!!!! You will lose the marks available for cancellation of the intra-group trade! Why would you want to ignore it – it must be one of the easiest bits of all the consolidation adjustments!
August 30, 2013 at 4:38 pm
OMG the easiest and simpliest way of explaining how to do the statement of changes in equity!
Thanks very much for tis video Sir!
April 19, 2013 at 9:43 am
I dont understand, in example 2 in the St. of changes in equity why does NCI reduces Retained Earning. Does it always happens like this?
Thanks in advance
August 30, 2013 at 7:12 pm
Yes, the full profit for the year goes into Retained Earnings but, of course, the nci want their share of these profits so the transfer from Retained Earnings to nci will reduce Retained Earnings (if the year’s results had shown a loss, the nci would have been charged with their share of that loss)
Hope that helps
April 17, 2013 at 2:08 pm
I finally understood that the figures in this Statement of Changes in Equity are the same figures that will appear in the Consolidated Statement of Financial Position. Thank you Sir Mike.
I would just like to ask whether it is possible that we will be asked to draw up a Consolidated Statement of Changes in Equity in the context of Question 1. Has this been asked before?
August 30, 2013 at 7:13 pm
No, Statement of Changes IS in your syllabus, but not for consolidations, so it will NOT appear in question 1 – but probably WILL be in question 2
December 1, 2012 at 9:29 pm
Mike, whats the trick is? While W3 you have not counted dividends receivables from Sigmantas. Why do we need to count it in, for instance, in Chapter 9 exercises? (Ch. 9 Ex. 1) Thank you.
December 1, 2012 at 9:57 pm
@biskarre, I got it 🙂
Miss A.. says
November 5, 2012 at 9:24 pm
very good lecture
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