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Accounting Conventions and Policies - ACCA Financial Accounting (FA) lectures

VIVA Subject Guide
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18 Comments

  1. S le
    I don't understand why in times of high inflation profits will be too high using historical cost(the last example you gave) - the depreciation will be proportionate to original cost which is lower than it should be?
  2. John MoffatTutor
    If the current cost is much. higher because of inflation, then it can be argued that the depreciation charge should be much higher as well. In fact we do not charge higher depreciation which means that the profit is higher than it would be if we had charged higher depreciation.
  3. Muhammed Saleem
    Sir, If we are using the same cost, Why we revalue the NCA?
  4. John MoffatTutor
    Which part of the lecture are you referring to?
  5. Muhammed Saleem
    I'm asking that if we are valuing the NCA using historical method, why we want to revalue that after some years?
    If we revalue then the original cost is changing, isn't it?
  6. John MoffatTutor
    Although we don't often revalue, we might decide to do it if the true value of the asset is a lot higher than the value at which it is showing in the accounts. It is not that the original cost changes, but we replace the original cost with the revalued amount. I show all this in my free lectures on limited companies.
  7. Sasha
    Thank you so much for all the lectures. I'm just hoping that the next few lectures for ACCA aren't done by anyone else as the way you explain things makes everything so clear and easy to understand.
  8. John MoffatTutor
    Thank you for your comment :-)
  9. Basil Ahmed
    thank you very much . Btw, I am writing my F3 Paper in July, So Is this valid until then?
  10. John MoffatTutor
    The lectures are valid for then :-)
  11. MohamedSupporter
    Mr. John,
    I really find the way you deliver the information perfect.
    You are one of the best tutors I've ever attended.

    Kindest Regards,
  12. John MoffatTutor
    Thank you for your comment :-)
  13. Precious
    Thank you so much Sir
  14. John MoffatTutor
    You are welcome :-)
  15. Tapiwa
    Thank sir.
  16. John MoffatTutor
    You are welcome :-)
  17. zihan
    Hi sir. Thank you so much for the lecture. It's so clear!!
  18. John MoffatTutor
    Thank you for your comment :-)

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