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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › emerald 12/07
hello Sir,
i dont get why the prior year adjustment is 465?
I need more information! I don’t have Emerald to hand and it seems that the ACCA has taken the December 2007 exam off their website
Hi
The answer on page 19 explains it! It’s what the carrying amount for (2004) $300 plus the carrying amount for (2005) $165 should have been if Emerald had been applying the capitalisation of qualifying development expenditure
It had previously been expensed. Now, with the change in policy, there is required a prior year adjustment
OK?
