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sir i have a couple of doubts in first ques of this paper
first of all i want to ask why does it say ‘sample paper’ where can i find the actual dec nd sept papers for 2015 ..
1) sir possible contigent liability just requires disclosure right? so why are we adjusting 1m$ relating to change in fv of cont liabilty when it says the liability was previosuly just disclosed and is possible (not probable)
2) in goodwill translation why are we taking average rate for converting gw impairment into dollars..in previous ques we had always taken closing rate
3)lastly sir can u please explain what is this exchange difference summary working they have done as woking4? my sir never taught me in any foreign subsidiary question we did..when do we make this and for what purpose and why do we write in translated balance sheet?thanks alot sir for ur reply in advance
wesbyss: Please don’t answer the questions in this forum because it is Ask The Tutor, and you are not the tutor. As much as your answers are correct and insightful it is not your role to be doing so. If you wish to help people in general then feel free to use the general forum.
Thanks
Was actually thinking at one point that he is your assistant especially seeing that I haven’t gotten my response from the Tutor on the Reclassification to Profit or Loss from the OCI but instead got a quick response from Wesbyss so I took it that he’s an OT tutor.
Wesbyss are you a finalist if I may ask? because you seem to come out so quick and so well on each and every question and if you are a student yet to sit for P2 then I guess for you its a known pass.
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