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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Sep 2018 Q1(a)
Hello Miss,for PYQ Sep 2018 Q1 (a)
Effective tax rate
1.What is profit chargeable to tax is it same as PBT? if yes ,why the answer stated that its have been decrease but actually increase from last year?(244 – 322)
Consolidation of foreign subsidiaries
2.The materiality for Group net asset is same as Group total asset which is 1-2%?
Thank you.
1. PBT is accounting profit and profit chargeable to tax is taxable profit – i.e. accounting profit adjusted for disallowable expenditure, capital allowances etc.
2. Net assets = Total assets – total liabilities = Total equity