OpenTuition.com Free resources for accountancy students
Free ACCA and CIMA on line courses | ACCA , CIMA, FIA Notes, Lectures, Tests and Forums
View ACCA P2 lectures Download P2 notes
February 5, 2018 at 8:14 pm
I don’t understand how you got the 80 for depreciation. The fair value was 2 years ago. That makes the useful life of the asset 12 years. 400 divided by 12 multiplied by 2 isn’t 80.
February 24, 2018 at 4:48 pm
The depreciation expenses was determined at the point of DOA, since it is using the straight line method. Its excess by $400 with 10 years life, so there is an additional $40 depreciation charge per year in the consolidation. Multiply $40 by 2 because the acquisition is held 2 years ago, will then bring us to $80 adjustment to the RE.
February 3, 2018 at 5:58 am
when we do consolidated SFP , we need to take only 70% of finn’s Assets and liability right? Please correct me if am wrong
December 17, 2017 at 9:19 am
Sir, isn’t declared dividends not to be touched upon. Because as far as I know it is only paid dividends that affect the statements?
September 17, 2017 at 11:43 pm
Please Sir I don’t understand why the depreciation on the fair value adjustment is for two years since the company was acquired in 2014 and the reporting year is 2015. Should it not be one year? (i.e: 400/10 *2years)
November 23, 2017 at 12:32 pm
The date of acquisition is 1 Jan 2014 and we are preparing the SOFP as at 31 Dec 2015. That makes it two years.
September 12, 2017 at 10:36 pm
Hi sir, in example 2 i dont understand where the 400 from PPE comes from because the book value is 1250 and the FV is 1850 therefore the difference 600 not 400. please can you explain to me for better understanding?
July 20, 2017 at 11:00 pm
What should we do if the consideration of purchase for subsidary is not yet recorded? If such situation is likely to occur in exam?
June 30, 2017 at 11:23 pm
hey sir should’t we record the cash side of the dividends received in the group sfp. since we’ve already adjusted the first part in the associates investment
February 19, 2018 at 7:38 am
May 10, 2017 at 8:50 pm
What is the double entry for the fair value adjustment of 400 on PPE. I see that the PPE is debited where does the credit get represented and how does that credit feed into the group balance sheet?
Really would appreciate your response.
May 10, 2017 at 8:56 pm
I should point out that my question relates to example #2
Sorry for that.
May 11, 2017 at 12:36 pm
The credit is reducing the value of the goodwill as the goodwill is reduced as we are showing the identifiable PPE at fair value.
May 5, 2017 at 9:18 am
First of all thank you very much for the great and updated lessons. I am struggling a bit with the following and maybe this is a stupid question :):
The associate has declared (but not paid) a dividend of 20m USD. As the profit distribution is declared, I am wondering if we should recognise the amount as receivables as at YE 2015 in the accounts of the significant Investor? In the solution we are just deducting this amount from the equity attributable to significant Investor but not taking in to account the future benefit from the financial Investment, which will crystalize in cash on a short-term.
Thank you very much for unwiring my issue 😀
May 6, 2017 at 7:08 am
In the individual accounts of the associate the dividend would be declared in the usual fashion: DR RE CR Dividend payable
In recording it in the group accounts, we do not record a receivable but instead:
DR Share of profit of associate CR Investment in associate
Hope this helps
March 28, 2017 at 11:34 am
Your lectures are brilliant, very well explained….
February 15, 2017 at 10:41 pm
In working 6, should we not time proportion dividend and calculate it for 6 months as we did to the profits?
April 17, 2017 at 7:41 pm
Hey, nope as it was declared on the 31 dec 2015 and the spf is at 31 dec 2015 also.
January 18, 2017 at 5:20 am
youre funny sir…but your lectures are good. for someone like me who didnt do f7 and study p2 on my own
January 17, 2017 at 3:22 pm
Hi. the question is about dipifr. can I use P2 materials for studying process for dipifr?
November 7, 2016 at 1:41 pm
Can I use abbreviations in exam for the SFP such as Rec for Receivables etc.? Looking at saving time, every second counts.
November 7, 2016 at 9:02 pm
Yes, there are no presentation marks in the first question but you still need to ensure that the marker can identify what you are doing.
October 15, 2016 at 4:45 pm
Hello is there a lecture for Example 3
October 19, 2016 at 4:04 pm
Example 3 is under the video title “Other Components of Equity”
You must be logged in to post a comment.