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October 12, 2022 at 2:41 am
thanks for the lecture.
how ever about the staff cost and depreciation charges, i wonder why these two items have been posted to cost of sales even if in the question it is asked to do so. Normally, these should have to be charged to admin/distribution expenses?
September 20, 2022 at 12:43 pm
Thanks a lot!
September 14, 2022 at 8:33 am
Why Tax expense for the current year is taken as 1700? Current Year tax expenses are only 1500 and aren’t that amount which should be charged to the P& L account ? and moreover, the tax balance is a debit amount which means they might have overestimated the tax expenses of the previous year.
September 14, 2022 at 8:37 am
Trial balance amounts of Non-current assets are shown at original costs with accumulated depreciation. So will it be okay if we change that policy and show non-current assets net of depreciation?
October 2, 2022 at 7:09 pm
Exactly! That is how we get the whole thing to balance.
October 2, 2022 at 7:11 pm
August 9, 2022 at 9:52 am
I think there is mistake on calculation in PPE 9,120+3,200 should be 12,320, total Assets are correct at 28,735
June 17, 2022 at 3:23 pm
Hi thanks for the amazing work you guys are doing.
My question is would have been correct to count for the inventory devaluation as a separate account and therefore to present the COGS $150 lower?
June 17, 2022 at 5:13 pm
Glad you’re liking the work we do. Please spread the word! In published company accounts we would not show this as a separate account. We jut include it as part of cost of sales where we start with opening inventory and then add purchases and deduct the closing inventory. Thanks
May 14, 2022 at 9:02 am
Hi, may I ask why when we calculate the COGS, we have to plus the Depreciation? Thank u.
June 17, 2022 at 5:17 pm
Depreciation is an expense through profit or loss and hence added to the cost of sales expense account. Thanks
July 11, 2021 at 10:13 am
Hi- maybe a stupid question, but why is the depreciation for the year for the buildings calculated at historical cost (12000) and not at 12000 less accumulated depreciaton? (as for machine vehicles?)
Thank you, Cristina
July 14, 2021 at 10:10 pm
that’s cause they have mentioned that the depreciation calculated for motor vehicles is using the reducing balance method hence when calculating the depreciation for the year you deduct the accumulated depreciation from the cost and then calculate 20% depreciation. But for buildings they have clearly mentioned that depreciation is calculated on a straight line basis hence you don’t deduct the accumulated depreciation from the cost.
January 31, 2022 at 1:48 pm
Accumulated depreciation is subtracted ($2400). It can be found on the trial balance.
April 17, 2021 at 11:34 am
Can you please explain the workings for tax.
Why have we included tax in both SFP and SPL?
Why does tax have a debit balance brought forward, it is not a liability?
April 1, 2021 at 3:38 pm
Chris is so cool! Thanks for this lecture
December 12, 2020 at 11:22 am
Thank you for the lesson.
The comment at 31:50 is probably one of the most honest and valid comments ever made.
March 15, 2021 at 9:55 pm
HAHA very true!!
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