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I see okay..understood about that. Just that for simplicity sake i just took libor.. Noted that its the reference rate 🙂 I’ll be watching all of your videos when im done with this wardegul. I always refer to OT because im self studying. My strategy is to read the textbook then read all the examiners article then only watch open tuition and then do questions. Thank OT for helping me pass acca. special mention to chris!he helped me alot in f7 and sbr. OT is a blessing, the rapport and ease of knowledge im getting with OT is far more than what i had experienced in the past with tuition and uni. Passed f56789 with OT in half a year sbr and sbl and p7 in 3 months. Oh thanks again for answering my question
Dear tutor, can i ask why in wardegul examiner’s article when
Libor > FRA its company pay the bank.is it because the situation is they are “investing”
I was wondering why they didnt include the 6 years and instead just (6015/6300) – 1
and not 6(square root) of (6015/6300) -1 to get the growth.but you can just for knowledge sake. because we all love learning and feeding our brain with good stressors
Thanks chris keeping it real and simple. Capiche
Also in exam if not mention in question asking treatment for specific y/e..ie question is just asking treatment. Should we also provide solution for following year f/s as is the case of the model answer? I’d probably drop at the IAS 10 and not mention the expense in following yearIts on cumulative basis
BC
feb: 20
mac:50
april:50
may:50if cum
feb: 20
mac: 20 + 50 = 70
april: 20 + 50 + 50 = 120
may: 20 + 50 +50 + 50= 170.Thus for 4 months
feb: 20
mac: 70
april:120
may:170on individual f/s:
initial classification: on the date of transaction @ historical rateSubsequent:
If monetary ( anything thts readily convertible to cash)
– retranslated at RD (reporting date @closing rate CR)
g/l : soplif non monetary ( NCA etc)
– Not retranslated ie @HR
-unless item is at FV then revalue to FVOn group:
SOFP – A/L @CR
(g/w @ CR but SNA @DOA and SRE pre acqui @HR)
SOPL – Y/Exp @average rate (AR)Dispose OCI
where is chris.. i miss chris
lol i just came to check this. yes i tend to over complicating many things in my life. learning to unwind that still prove to be a challenge. One time i overthink think too much i thought something that was dead ass morally wrong was right. never again will i move beyond that threshold of insanity. may god always have protection over me and my sanity and all the creatures that are prone to extinct due to global warming particularly baby polar bear, dalai lama, and honourble consul of sbr and f7, sir chris.
Can i chime in and say yes, Yes to bpp exam kit and yes to knowing all your examinable iFRS and IAS by heart like your life dependent on it. Yes to doing whatever it takes to pass the exam. Yes do doing all the p2 past year question, reading all the PQ articles especially on ivory tower and all the technical articles, because when you think you know 98.2% of everything you’re heart will be at ease because you tried your best.
I think everyone before sitting the exam need to do at least 10 past year papers and do the entire exam kit by bpp or kaplan. Thats way to passing the exam. Best believe i learn the hard way like a decade of my life delayed because no one told me “actually you dont need to come to class, you just do exam kit” and opentuition chris…lol
Also i’d like to know why the DTL arising from acquisition of T would be included to both the closing balance and the dr side of the T account of taxation as deferred tax on acquisition $3.
I thought adding it to closing balance of DT would suffice? Please let me know where i went wrong. Thanks
Stressing over this has caused me to have legit pimples now hahaha
