Please note:
NEW Financial Reporting September 2018 Exam
We have updated our lectures and notes
for the new ACCA Financial Reporting FR Exam
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Watch on line free ACCA June 2018 F7 lectures:
These lectures are based on OpenTuition June 2018 F7 course notes
Chapter 6
Group Accounts: An Introduction
Group Accounts: An Introduction part 2
Chapter 7
Preparation of the Consolidated Statement of Financial Position part 1
Preparation of the Consolidated Statement of Financial Position part 2
The non-controlling interest in the goodwill of the subsidiary
Other reserves, Mid-year acquisitions
IFRS 13 Fair value measurement
Chapter 8
Group Accounts: Inter-entity transactions: Trading transactions
Inventory sold at a profit within the group
Transfer of non-current assets
Chapter 9
Group Accounts: Comprehensive Example
Chapter 10
Preparation of CS of Comprehensive Income Example 1
Preparation of CS of Comprehensive Income Example 2
Preparation of CS of Comprehensive Income Example 3
Preparation of CS of Comprehensive Income Example 4
Chapter 12
Chapter 13
IAS 11 Construction Contracts Introduction
IAS 11 Construction Contracts Workings
IAS 11 Construction Contracts Example 3
Chapter 15 IAS 37 Restructuring issues & Contingent liabilities
Chapter 15 (Part 1)
Chapter 15 (Part 2)
Chapter 16 IAS 17 Leases
Chapter 16 (Introduction)
Chapter 16 (Example 1)
Chapter 16 (Example 2)
Chapter 17
Chapter 18
Chapter 19 IAS 7 Revised: Statement of Cash Flows
Chapter 19 (Introduction)
Chapter 19 (Examples)
Chapter 19 (Comprehensive Example 6)
Chapter 19 Alternative Methods – Operating Activities
Chapter 23
IAS 16 Property, plant and equipment
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28
Hi,
i should say i am very pleased with the lecturez on consolidation.I now have a btr understandin of the concept.Thanx.
can anyone tell me where I can find the first couple of parts to this video please.
Respected sir, can u please tell me when u guys gonna update chapter 10 lectures because 80% material has already been updated.
I think the lectures of f7 isnt that good in comparison to other papers!!!
The way lecturer is scribbling the whole solution in a very less space- making it hard to understand!!!
Just my opinion though!!!
@s1234, Hi S1234, I’m sorry that you think it doesn’t reach “acceptable” standards. I’ll try harder next time!
@MikeLittle, Thank you!!!
Teacher.
where have you gone. my Q is still there.
Mid acq consolidation.
tell me only about split of profit.
sohail
@sohailssaeed, sohail! The course notes themselves give examples, with numbers! For both the Income Statement as well as the goodwill, retained earnings and non-controlling interest workings for the Statement of Financial Position
@sohailssaeed, ok sir thanks.
Respected teacher.
i donot understand completely , ch 7, MID YEAR ACQUSITION. consolidation.
please give me simple examples so that i can understand it. give examples with dates.
thanks
sohail saeed
Hi Admin,
please advice if there is any lecture on EPS
What you see on line, is all there is
Thank you for the update. But, I want to make sure, I got it right 100%. Applying the “net” method in example1, chapter 9 would this be the net effect under W3 and W4:
Dr Retained earnings and Cr TNCA with $15000 (unrealised $20000 $5000 realised).
Dr Retained earnings $3600(72% of XS dep) and Dr NCI $1400(28% of XS dep)
Cr TNCA $5000 (XS dep) ?
@marusha, Revised / amended answer will be up on site in the near future. I’ve done the revision but Admin is now putting it into proper format
Answer is on line
On the home page
@admin, oK Thanks
sir.
IAS 36 impairment loss.
I understand it but not 100%. you wrote Viu104, nsp 96, cv 100 and leave assest at 100. similarly cv assest will be lower from viu 104. whilst the Q is saying ,amount of assest should not be lower from viu 104 and nsp 96.
thanks
sohail
@sohailssaeed, Hi, no, the emphasis here is that, if you are going to impair an asset, it should not be reduced as a result of an impairment exercise below the higher of viu and nsp. But if you’re not carrying out an impairment review / exercise, then it’s correct to leave the asset at its net book value of “Cost less accumulated depreciation”
So if either viu or nsp is greater than carrying value, then do not impair the asset.
Better?
@sohailssaeed, Thanks . now i understand 100%. and strong in IAS 36.
thanks Mike Little.
opentution is great .
sohail
sir .with due respect.
F7. IAS 36 Impairment loss. I don’t understand this word. BPP book.
Q: in allocating an impairment loss, the carrying amount of an asset should not be reduced below the highest of:
a) its fair value less costs to sell
b) Value in use (if determinable)
c) Zero
please explain numericaly.
thanks
sohail
@sohailssaeed, Carrying value 100, viu 90, nsp 85.
Higher of viu and nap is 90. Compare with cv of 100. Impair asset down to 90.
Cv 100, viu 80, nsp, 82. Higher of viu and nap is 82. Impair asset down to 82.
Cv 100, viu 104, nsp 96. Higher of viu and nsp is 104. Cv is lower, leave asset at 100.
Cv 100, viu 95, nsp 102. Higher of viu and nsp is 102. Cv is lower, leave asset at 100
Is that any clearer?
Hi is anyone doing p6?
@zehn40, why is this in an F7 room?
Are there any lectures for chapters 1-5?
listen to introductory lecture, then you will know 🙂
hi admin,
i obseve that, there is no note on the other charpters like charpters 26,27,28 respectively.
Thanks
@habby, well done in observing, but no marks for this exercise 🙂
if something is not on line – it means it does not exist
where are other chapters lectures…….
Where are the chapters 1 to 5? Have they been removed?
I’m one of the oldest fans of OT. Got very disappointed today as i was taking this lecture (F7 Preparation of Consolidated Statement of Financial Position Non-controlling interests Example 7) and examiner said that the goodwill figure of 10000 is written in question but unfortunately their is nothing in question. Very bad lecture one of the worst lecture ever. Please help as i’ve already wasted a lot of time. Sorry to say VVVVVV BAD TEACHER
@accapakistan, Hi, I meant to reply to this a couple of days ago but was having trouble with my connection and then ….. forgot. Sorry!
Anyway, your problem. I can’t see anywhere where I say the goodwill is 10,000. can you give me a better reference?
Can’t have you being disappointed can we!
@MikeLittle, Problem was due to mismatch of page numbers in lectures and notes for e.g Example 10 in lectures is basically example 09 in notes. I’ve solved it already anyways thank you so much for your much appreciated reply and sorry for the bad words i used cuz i was disapponted. Luv u and OT
Hi,
When I click on Chapter 6 – Intro to F7 + Group Accounts – the video is not there? Has it been removed – can you send to me?
Thanks,
U
check you have the latest version of flash player, try google chrome,
lecture is there and plays fine
hi admin,
I want to start reading for F5 and F7, can you please recommend good text books to me for this course?
I have get it, if lecturer says page 41 you will find it is page 31 in the notes of 2012, and when he says page 39 it is 29, ie you have to deduct 10 pages from the number he mentions.
Evanuom, you wrote “hi admin, can u tell me if these f7 notes are god for december 2012 exams?” The notes are still good for 2012 but I wouldn’t claim them to be as definitive as God 😉
@MikeLittle, 🙂