Forum Replies Created
- Posts
I think the scanning part relates to the fact that software developers are always up to date with new technology, unlike they think of their managers. So using new technology, such as latest smartphones, is a symbol in iCompute.
Please feel free to correct me just in case. Thank you 🙂
ED540 has been examined once in the past, so I guess it is not examinable this time around?
Correct me if I’m misled, I need to get back to it again if so 😀Thankyou very much sir.
I have another question regarding Chrysos.
Why is just the bank overdraft deducted from the value of the equity and not other liabilities?
Is it so because it is mentioned they are converted(VCO bond) and repaid?also how to determine the currency of the contract for Options in situations such as this question?
If you refer to study text or notes, I don’t exactly remember, you can find that weighted total expenses are used while calculating the weighted borrowing cost. It is, apparently, mentioned in IAS 23 that the process for calculating the borrowing cost is the same method as used in Mehran.
Yes,gains and losses debt instruments that are held through OCI can be reclassified to P/L upon disposal. Only gains and losses on equity instruments that are held FVTOCI cannot be reclassified.
John,
I am sure that I haven’t been misreading the texts.I was confused in this area for last few hours and I have revisited the text time and again to make sure of it.I will watch the free lectures though 🙂
@hayor said:
So technically by adding depreciation to development cost the implication is that we are adding part of cost of an asset if not all to development cost????please did any IAS or IFRS support that…..in my opinion not making it general….depreciation on capital asset should be expensed regardless of what purpose it serves as we do not recapitalize depreciation.
Any opinion to the contrary will be welcomed….pls lets b clear…..i need to learn more
You need to capitalize depreciation because it’s a cost that needs yo be incurred to make an asset(intangibles) to current location and condition.
Its in accordance to IAS 38.@topakin2002 said:
I did the same, but for the excess depreciation calculation, what did you do? I didn’t see any information on previous depreciation so was difficult to establish what the new depreciation and excess would be.excess depn would be the increase in value i.e. 3.5m divided by 20.
you do not require any extra info for that,because the depn has alreafy been charged on cost and so when the cost value increases,depn is only charged on that.@yijiayap said:
20×7 b/f 30 Sep 20×7: 1400
Compare to this year 20×8: 4680 (assume)×26%= 1217
Overprovision: 1400-1217=183
PBT: 4680 (my answer)
Income tax expense: 1400-183+390=1607
Profit for the year: 3073
Other comprehensive income:
Gain on revaluation of property: 3500
Fair value adjustment-equity instrument: 200
Total comprehensive income: 6773Not sure about it, revaluation is at the end of the year right? Do we need to charge extra depreciation to COS? I didn’t charge.
yes I think you must.
becayse only depreciation charged was for the historic cost.
and for the extra increase in cost of $3.5m ,it should be depreciated over 20 years.Thus,175k of extra depn should be charged to COS because it has not been included in the calculation.@hayor said:
To saleable condition may include for example primary packiging of an item they are not saleable until they have been properly packaged….selling cost may include advertising cost, sales commission, etcno.selling costs means “costs to sell”
do we include it?No.@phil1990 said:
Guys does anyone remember the answer in MCQ with foreign currency? The goodwill was increased or decreased in MCQ with liability (was it overstate or understate?? i dont remember…) Any other answers in theoretical MCQs of part b?? like revenue recognition on combined products.. any thoughts??I selected A,dr. 86111,dr. 225000(or sth. like that)
@nataliam2 said:
I know the rules but I couldnt get to any answer. THis is how I calculate:10m*6%*7/12 = 350
2m*4.5%*2/12 = 1510m+350-15 = 10335
so how do you get 10435? where is my mistake?
its 10m*6%*9/12.
because it runs from feb to October last day.
that’s where your error occurred!!@surajnair said:
Yes 10435000. Atleast we have one common answer :pyes suraj,finally!! lol
@nataliam2 said:
Does anyone remember the question on the borrowing costs?10 mil$ was the cost. he took a 10 mil$ loan 6% on 01 feb. between 01 feb and 01 apr he invested 2 mil $ at 4.5%. The construction finished on 01 november same year.
It didnt matter how I tried to solve it, I couldnt get a result that matched any of the answer options.
Does anyone know how to solve this MCQ ?
yes natalia.You had to capitalize the borrowing cost from feb to October.
but also since it had been invested elsewhere for 2 months (2m*4.5%*2/12)
this should be deducted.i think the answer was 10435000
@nataliam2 said:
my result was the same but I chose .74talking about deps? 😀
excess dep? had not been charged so i added 3.5/20 = 175k to COS.
Yeah,adding inventory to R/E wad a very tricky one.None of the questions I attempted while practising had that twist!!
@denny1 said:
Hi all, I guess for morning and evening there were two set of questions. Mine was Second half. Longer form questions 1 was on comparison for two consol number with disposal happened 3 months into an year. Which I have calculated the said ratios and wrote something. Second question I got Profit was approx 2945 plus some revaluation 3500 to 6445 approx. Overall I think it was really trickyyes denny me too;we had same question.I got net profit of 2915,so your and mine maybe same.
Thankyou Suraj,its just small things of f6 that drives me crazy.
Goodluck with your f9.
Cheers.
