IAS 36

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  • Avatar of faheem100
    faheem100
    Participant
    • Topics: 4
    • Replies: 1

    F7 BPP KIT Q.21 ADVENT
    Accumulated depreciation:
    At start of YEAR 40
    Charge for year 9
    Revaluation (40)
    At year end
    plz tell why 40(revaluation) has been subtracted at last


    Avatar of MikeLittle
    MikeLittle
    Keymaster
    • Topics: 0
    • Replies: 6655

    OK Three columns: Land, Buildings, Accum depn

    B/fwd 80, 200, (40)

    Reval 5, (20), 40

    C/fwd 85, 180, (-)

    Can you see the revaluation decrease of (15) ie 5 +ve and 20 -ve

    And then, separately, the add back of the depreciation of 40

    On a revaluation, the accum depn disappears – that’s the 40 add back

    That puts the asset back to its original 200. But revaln says it’s only 180. That’s the reason for the (20) in the Buildings column

    Is that better?


    Avatar of faheem100
    faheem100
    Participant
    • Topics: 4
    • Replies: 1

    THANKS ALOT
    SIR


    Avatar of MikeLittle
    MikeLittle
    Keymaster
    • Topics: 0
    • Replies: 6655

    welcome


    avatar
    vipulv
    Participant
    • Topics: 1
    • Replies: 44

    Can anyone please send me the questions and solutions to :

    Q1 Consolidated Statements of Income AND of Financial Position – question
    Pedantic ( 31 ) subsid, but no associate
    Q2 Preparation of Financial Statements – any of the questions from the BPP
    revision kit (5) Winger through to (13 ) Pricewell AND questions 24 – 26
    Telenorth – Partway
    Q3 Cash Flow AND report (71 ) Bigwood
    Q4 Provisions and contingencies (51) Promail
    Q5 Impairment of assets ( 21 ) Advent

    Thanks

    Email: vipulvasant@hotmail.com

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