Group SPL – Adjustments – ACCA Financial Reporting (FR)
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Hi Chris,
From Example 3 in SPL, what was left from the inter-group sales was 1/4 of the sales. In your answer in the class note, you DR the Revenue with the entire amount instead of 1/4 of the sales left in the inventory and CR Cost of Sales with same.
Please, kindly clarify this.
Thank you
Ezekiel
Hi you havent uploaded the example of adjusment plz upload one for better understanding.
Thanks.
I have a question please.
If there was a loan interest paid from subsidiary to the parent, will the Reversing adjustment go into consideration when calculating the profit for the year for subsidiary (in order to calculate NCI)?I hope it make sense. Or this adjustment will be siting separately and will not affect calculation for NCI?
Ignore the above question. My brain went for a walk ?
In chapter 24 example 2, why did we deduct NCI by the total impairment amount i.e 20, should not be allocated between the P and NCI
When you take 20% of profits of subsidiary to calculate NCI;s ownership, you automatically are taking 20% of that impairement.
Sir, Can you please tell why in question 2 you added 20 to the administration expenses (90+)((6/12×50)+20).
Thank you.
Sorry.. it was (90+(6/12×50)+20).
Hi,
Was going through example 2 on chapter 24. and I think there may be a issue with the cost of sales for the group
Calculation given is (1205 + ( 990*6/12)) which fo me total up to 1700 but you have 1403 ?
Also should the goodwill impairment not appear somewhere ?
Thanks
Hi,
The answer has now been updated and should be correct.
Thanks
Hi Chris, Example 3, page 98, the NCI interest in the Group profit, I think sould be 20% x $11,500= 2,300 (not 20% x 10,000)
Thanks
There are so many videos and information missing throughout this. When will they be put up?
the video for example 2 is missing too. Throughout these FR videos there seems to be so many missing!
Wheres the video for example 3
Same question. Thank you.
Hi,
I think there was an issue with the initial recording and I’ve not had time to record it again. Whilst there is no video, please use the answer in the class notes and it you have any questions then please ask them on the forum on the website.
Thanks
Hello Chris,
In exp 3 with regards to PUP and adjustment to Revenue and Cos should they both not be deducted? And also 500 PUP be deducted making GP @ $100500 not cost ( as done in answer)Hence the PFY changes.
Please explain.
Thanks in advance.