[akshayv73]

ranapardeep87 wrote:akshayv73 wrote:
ranapardeep87 wrote:There was a misstatement which was material, as acturial gain was recognised in profit and loss and not oci, so auditors provide the correction entry to be made, if not corrected opinion and report will be modified.

Then i must have got some other question paper with different profit before tax figure because in my case only due to non recognition of payables of 5.5 million opinion was modified. All the best for your result

[akshayv73]

ranapardeep87 wrote:There was a misstatement which was material, as acturial gain was recognised in profit and loss and not oci, so auditors provide the correction entry to be made, if not corrected opinion and report will be modified.

No if it was left uncorrected no modification would be made since it is not material to profit or loss or assets , with revenue you cannot check if its material since it does not affect revenue

[akshayv73]

Can someone tell why actuarial gains on reduction in defined pension obligation must not be recorded in OCI because IAS 19 says actuarial gains due to changes in assumptions must be recorded in OCI and this was classified as misstatement what’s the reason can someone help

[akshayv73]

No it should not be checked for materiality with respect to revenue as it is not a relevant benchmark for it it affects profit and assets only see this https://opentuition.com/topic/materiality-41/

[akshayv73]

Thanks sir for all your guidance and help just need ur best wishes for the exam .Your lectures and guidance was like a blessing for me.Because of your guidance and lectures i passed PM 65 marks and FM 62 marks .Opentuition is really a blessing to all acca students

[akshayv73]

sir can u help why market value of company is used in pursuit to compute overall synergy

[akshayv73]

Yes sir i understood chikepe but had confusion for pursuit co where computation of synergy is done using market value of company

[akshayv73]

Sir in chikepe co also capital structure stays same still they have taken market value of equity only to compute synergy as compared to pursuit where value of firm is taken

[akshayv73]

Thanks sir

[akshayv73]

Yes sir have seen all of your AFM videos and they are excellent thanks a lot for the clarification

[akshayv73]

Thanks sir

[akshayv73]

Thanks sir

[akshayv73]

Got it thanks sir

[akshayv73]

Yes true thanks sir

[akshayv73]

Thanks for clarifying sir this question was there in Proteus co dec 2011 (adapted question) in kaplan revision kit

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