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Sir, in the exam, in section C it was said that a company invested in a machinery, and it could claim 100% tax allowable depreciation in the first year it was bought. After 5 years, its scrap value would be 5m. What I did was first of all I calculated tax saving as a result of tax allowable depreciation. Since no balance remained for depreciation, at the end of year 5, as a result of scrap value, I calculated a balancing charge. So, did I do right?
Thank you so muchIt sounds right, but I cannot say for certain until I have seen the exam (which will not be for several weeks).
Hello I got the same question. Did you consider the research and development cost?
I am not going to discuss the recent exam until I have seen the paper.
(If you want to discuss with each other then please do so in the thread that exists for this purpose: https://opentuition.com/topic/june-2022-acca-fm-exam-instant-poll-and-comments/
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