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  1. Dear mike,
    I am surprised that there is no lecture for “Earnings Per Share” IAS 33 even though there are questions in the course note. I would have to have those questions solved.

  2. Won’t the illustrations type practical questions as per given by the books of ACCA be examinable point of view as practical questions are not discussed here?
    can we skip those questions for the exam then?

  3. Hi Sir,

    I had a practice question but wanted to check the wording. The question asks under IAS 38 Intangible Assets which two are required for the costs of the asset to be capitalized as an intangible asset?

    1) It must be a non-monetary asset
    2) It must result in a flow of economic benefit to the entity
    3) its costs should be able to be measured reliably

    I thought it was 1 & 3. The wording on number 2 makes me think that could be correct instead?

    • I might be wrong but i believe that number 2 and 3 are correct.
      Number 1 is actually part of the definition of intangible asset, and the question asked for which two are required for the costs of the asset to be capitalized as intangible asset, so i assume that it means, when do we recognize the intangible asset. Hence the answer 2 and 3.

  7. yupp Mike is a great teacher there is doubt about that bt he could have explained a bit and given some examples in his all IAS lectures..Textbook is definitely hard to read and understand because there are plenty of things to study..

    • I agree…

      There could be more examples implemented into these lectures, but essentially, Mike has recorded these lectures to help students understand the theory behind these IAS’s rather than the calculation side of things.

      In the section B of the new format of the F7 paper, you will be expected to draw up the statements and comment on some of the individual line items using IAS theory, which Mike has explained in short, quick details.

      The other lectures, I am sure, are in great detail, but really to get a jist of what the IAS calculations are like, then I suggest that you get a revision kit or exam kit from an ALP (Approved Learning Provider). That way you can follow the theory and the calculation side of things.

      In my view, and this is strictly my opinion, the BPP or Kaplan exam kits offer a wealth of examination tips and questions structured to help you get a feel of what the exam structure and the types of questions are like for the F7 paper. By all means, go to Becker or some other ALP but for me BPP and Kaplan do justice to exam practice!

      Hope this helps hugely!
      Avnish

  8. Depreciation is never charged on freehold land and an intangible asset should be amortised over its estimated useful life.

    Leasehold land is amortised over the lease period.

    Why leasehold land is used amortisation not depreciation? Leasehold land is an intangible asset ?

    Please explain to me.

    Thank you.

    • Yes, leasehold land IS an intangible asset – a lease is a legal “right to use” an asset whereas a tangible asset is literally that, it’s tangible, that is, it has physical form and you can touch it.

      You cannot touch a lease. You can touch the piece of paper on which the lease is recorded and you can touch the asset which is the subject of the lease. But you cannot touch a legal “right to use” the leased asset.

      Freehold land is (as near as is possible under English law) owned by the freehold land “owner” and because freehold land is not used up over time, then no depreciation is charged on it. Note that you CAN touch freehold land.

    • Oh no! I am devastated that you think this! Maybe I’ll ask admin to remove all my lectures and course notes from the site and you can read your own notes, text book and do your own research. This particular lecture was recorded because so many students felt that they were no able to read a chapter in a text book for themselves. Personally, I didn’t think the subject was worth recording but I bowed down to student pressure.

      I tell you what! Why not just read all the notes for yourself and leave the OpenTuition F7 material totally alone

      And the very best of luck to you

      Enjoy

      馃檪

      • Oh no! I am devastated that you think this! he is just reading the notes am i correct he is not explaining how this standard is going to be examined in exams nor they are any example with figures and interpretation and one more thing your sarcasm isn’t funny act like a teacher if you are one i criticize because i am have using open tuition for long time and always appreciated the work of the people who have created this site but to be honest i wouldn’t REGRET ONE BIT IF THEY REMOVE YOUR SHITTY LECTURES .

      • Very rude!! i really hope u regretted saying that to mike. He is such a great tutor! he is sharing his knowledge for free! My goodness! Get a textbook if u dont think this is sufficient!

    • Mike is an awesome lecturer and he explains matters to people that have brains unlike your self!
      I hope you fail, get fired from your job and eventually learn how to respect your teachers.

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