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I have my first ACCA CBE on Thursday but I’m still clueless if Section A & B require proper workings to be shown or simply working the questions on rough paper and then selecting the correct answer will get me marks.
Any help or response will be appreciated.
Hii Chris ,
I’ve been solving solving PPE questions from bpp WorkBook in which I’ve come across this particular question:Replacement Value of an asset has been given which is to be treated as the FV at the date of revaluation however, as it is at the end of the year (1.10.X7 – 30.9.X8) in the solution accumulated depreciation has been deducted from the revalued amount to arrive at the Carrying value at that date .
Why is accumulated depreciation being calculated on the revalued amount and further getting deducted to arrive at the Carrying Value at the date of revaluation.?