One more question in the answer of june 2009 ribby hall and zian
post acqusition reserve are translated through balencing figure of share capital+pre acquisition reserve + Fv adjustment -net asset at yr end.
But in question june 2011 ROSE post acqusition reserves were translated by dividing average year xchange rate .
i am confused which is the right way?
in question Ribby ,hall and zian(foreign subsi)
Zian has financed part of it’s operation through $4 million loan from hall which was raised on 1july2007 .This is included in the financial assets of hall and non current liabilty of zian.
1june 2007 11 dinar to 1$
31 july 2008 12 dinar to 1$
Solution : exchange loss of 8 will be recorded but i dont…[Read more]
If at the year end e.g 30 nov 2010 any subsidary turned into associate .
so in the consolidated financial position we will only account for it as investment .no consolidation of assets and liabilty .
AM i right?
in the question of Jocatt statment of P/L q,dec 2010
gain on property 10.5
But in the solution of cashflow this is not deducted from profit before tax nor its taken in the calculation of property plant and equipment.
ANDASH dec 06 cash flow
Group financial statment
inventories 2650 2300
Trade receivable 2400 1500
on 30 april 2006 a wholy owned subsidary was disposed off.Interim financial statment
q. JOCATT dec 2010
current assets. 2010 2009
Trade receivable 62 113
On 1 dec 2009 jocatt acquired 60% of tigret
FV of identifiable net assets at the acquisition
trade receivable 5
In the answer Stament of cash flow
decrease of receivable (113-62+5)
I dont understand why the figure of 5 is taken into…[Read more]
d245 replied to the topic P2 Int – exam tips – December 2013 (LSBF, Opentuition) in the forum P2 Corporate Reporting Forums 5 months ago
i want to knw .statment of financial position p/l and disposal of subsi and associate r thes topics stil xaminable in p2 exams or not.?
Q JUNE 2012
INvestment in Hail 55.
(i) On 1 June 2010, Robby acquired 80% of the equity interests of Hail. The purchase consideration comprised
cash of $50 million. Robby has treated the investment in Hail at fair value through other comprehensive income
A dividend received from Hail on 1 January 2012 of $2 million has…[Read more]
neither i m testing you nor i m lazy .i tired to understand from the solution but dint get.
It says The benefit allocated to each year will be this figure divided by 5 yrs.That is $ 884000 per year.The current service cost is the PV of this amount at 30 april2011.That is 884000 divided by 1.08 for four years that is $ .065m
I m nt geting . where…[Read more]
Bonus scheme for employess at 1 may 2010 .under the schme employees receive cumulative bonus on the completion of 5 yrs.The bonus is 2% of the total annual salary.The total salary of the yr to 30 april 2011 was 40 million and a discount rate of 8%.Additionally at 30 april2011 it is assumed that all employess will receive the bonus and…[Read more]
Rose purchased plant for 20 million on 1 may 07 with estimated life of 6 yrs.residual value of 1.4 million .At 1 may 2010 the estimated residual value changed to 2.6 million .The change hasnot been taken to the financial statement of 30 april 2011?
Kindly solve this .
- Load More