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Group SPL - Adjustments - ACCA Financial Reporting (FR)

17 Comments

  1. Oghenekaro Ezekiel
    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
  2. Hardeep
    Hi you havent uploaded the example of adjusment plz upload one for better understanding.
    Thanks.
  3. Ecaterina
    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?
  4. Babita
    Ignore the above question. My brain went for a walk ?
  5. Ali
    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
  6. Bhavika
    When you take 20% of profits of subsidiary to calculate NCI;s ownership, you automatically are taking 20% of that impairement.
  7. Manisha
    Sir, Can you please tell why in question 2 you added 20 to the administration expenses (90+)((6/12×50)+20).

    Thank you.
  8. Manisha
    Sorry.. it was (90+(6/12×50)+20).
  9. etiamm
    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
  10. P2-D2Tutor
    Hi,

    The answer has now been updated and should be correct.

    Thanks
  11. Barbora
    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
  12. Matt
    There are so many videos and information missing throughout this. When will they be put up?
  13. Matt
    the video for example 2 is missing too. Throughout these FR videos there seems to be so many missing!
  14. aarina
    Wheres the video for example 3
  15. Michael
    Same question. Thank you.
  16. P2-D2Tutor
    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
  17. Babita
    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.

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