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Has anyone else noticed that in the course notes the asset was sold for 90000 and not 100000?
Hi Mike, do you teach face to face in the UK at all? I’m currently studying at BPP though I prefer your teaching style to be honest! Thanks
could you please tell how did you calculate the depreciation for 2009???
and how did you get the depreciation excess of 5000???
PUP (Unrealized profit/ #of years remaining life) 10000/2=5000
Dear Mr Mike Little,
FIRST OF ALL THANK YOU VERY MUCH FOR YOUR TIME AND EFFORT!!! I REALLY LIKE YOUR TEACHING STYLE.
Is the answer in the course notes for example 3, chapter 8 correct (page 160)?
I am asking due to the different approaches in your lecture and in the course notes in regards to the PUP and excess depreciation (Selling company / Buying company???).
Shall we use the SELLING company ONLY in the exam, as mentioned in the answer to example 3???
May I also ask you to always explain everything, as if all of us students wanted to achieve high marks. You mentioned in one of the earlier F7 lectures that certain figures could be written out as a Revaluation Reserve, but you did not go ahead in the end and proceeded with the figures in the W3 Cons. Ret. Ears calculation.. Since then I am wondering how to deal with the Revaluation Reserve.
Once again. THANK YOU SOOOOOOOO MUCH!!!
hi , admin Youtube is not accessible in my country. dear admin plz provide the download link or plz make it available online. plz help.
please install hotspot shield to make ur youtube work and lectures will be available again.
Lecture on Transfer of Non-Current is not responding or opening. Pls check it.
can anyone help me to know how to get a pup of $ 20,000 in Lindas example 3- chapter 8,a bit confused
The lecturer has taken the sale of the asset as $100 instead of $90, if you review the answer in the lecture notes the pup is $10 and dep’n $5.
I know when there is a negative goodwill, you add up the amount to the retained earnings as its your profit, but whats the double entry? If CR. Retained Earnings, then DR. ??
i can’t catch the lyrics or song that use for Working 2 and 3. Can write out the lyrics to help me to remember?
@annz2020, There really isn’t a song for working 2.
However, the working 3 song goes as follows ( H is the holding company, more commonly called the parent company these days, and S is the subsidiary. )
“H’s own plus
H’s share of S post acq retained less
Goodwill impaired since acquisition ( just our share )”
If there’s an associate involved then we need to introduce two extra lines – line 3 and line 5
H’s share of S post acq retained plus
H’s share of A post acq retained less
Goodwill impaired since acquisition ( just our share ) less
Impairment in A since acquisition”
Please to fix this lecture i have try the youtube link and still no sound.
This lecture does not work , no sound. Help!
Thanks admin for providing the YouTube link! I watched the vedio till 8 minutes and 37seconds left (where tutor says:”I made the figures up”), and it won’t go on any further…
I also noticed that the answer shown in the vedio is different from that in the notes. Which is correct then?
@c0712, Sorry, the first problem solved.
@c0712, If I’ve said “I made the figures up” it’s because a student asked eg “Which page are we on?” or “Where are these figures from?”
Now, before I started making the figures up, I will have said, for example “Say….” or “For example, if ….”
…and that’s why the video is not consistent with the notes – it’s because I was making the figures up!
@MikeLittle, Thanks Mike, but I’m afraid I was misunderstood.
I mean, for example 3 chapter 8, the answer you gave in the lecture is different from the answer given in the notes (December version).
@c0712, Ah, maybe! I used to teach the accounting entries for pups on TNCA transfers as entries in both the buyer’s and the seller’s records and that’s the way it is probably dealt with in the video lectures. I DID change the notes in the Summer, but I haven’t re-recorded to appropriate lecture yet.
So during the exam should we adjust both seller’s and buyer’s (the way its done in the video) retained earnings or just the seller’s (the way its done in the notes)?
No vedio comes out for this lesson?Only for this lesson. Others are good? Anybody else having the same problem?Thanks?
@c0712, Why all the punctuation marks changed to question marks?
@c0712, That?s a good question?
@MikeLittle, I realy want to watch this lecture, and I’ve tried different browsers – ie, safari and chrome, but none of them worked…
@c0712, try this lecture on youtube – http://www.youtube.com/watch?v=l7tt4EY-sqw&feature=player_embedded&noredirect=1
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