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IFRS 5 – NCA-HFS – ACCA Financial Reporting (FR)

12 Comments

ACCA Financial Reporting (FR) Lectures Download ACCA FR notes


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  1. abdullahmehdi1 says

    November 20, 2019 at 11:15 am

    In IFRS5, revaluation model, when we revalued the asset to fair value immediately before classification as held for sale, do we credit the gain to revaluation surplus in statement of financial position?
    And when do we transfer revaluation surplus to retained earnings? At the date of disposal or at the date when the asset is classified as held for sale?

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  2. patil123 says

    July 14, 2019 at 9:24 am

    good afternoon sir i need just you told NCA-HFS in financial position what amount shoulde added and were it will come one more is statement of PL were will come sir please reply

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  3. tejal14 says

    June 16, 2019 at 1:23 pm

    the video for example 1 is still missing

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    • tejal14 says

      June 16, 2019 at 1:46 pm

      maybe we dont need it as the solution the example is self explanatory. Thank you 馃檪

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  4. frantisek says

    February 8, 2019 at 4:46 pm

    Am I right that NCA held for sale are valued at the lower of carrying value and fair value less cost to sell only when using revaluation model, please?

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    • P2-D2 says

      May 20, 2019 at 2:34 pm

      We use the same rules whether it is held under the cost or revaluation model. The NCA-HFS is held at the lower of its carrying value and FVLCTS.

      Just note that when held under the revaluation model, the asset is revalued to FV first before then eing classified as a NCA-HFS under IFRS5.

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  5. nasif says

    February 8, 2019 at 6:13 am

    We don’t find the video for example one

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  6. morganrichards says

    October 27, 2018 at 7:43 am

    What is the answer to Example 1?

    Dep – 11,000 (SPL)
    NCA HFS – 73,000 (SFP)

    Fair value less cost to sell – 68,000
    carrying value – 73,000
    So asset is valued at fair value less cost to sell

    What is missing?

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    • rohan123 says

      November 6, 2018 at 11:56 am

      Dep ( SPL ) – 11,000
      Impairment ( SPL ) – 5,000 (73,000 – 68,000)
      Any reduction in value is recorded as an impairment through P & L

      NCA HFS ( SFP ) – 68,000

      NCA HFS is valued at the lower of the carrying value and fair value less costs to sell .

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      • tejal14 says

        June 16, 2019 at 1:32 pm

        ? yes i think thats right

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  7. matthewrjames says

    September 13, 2018 at 4:28 pm

    there is no video for example 1?

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    • P2-D2 says

      December 31, 2018 at 1:27 pm

      We will upload it once it has been recorded.

      Thanks

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