[ban123]

Hi
for CGT I get it, but for IHT I am still confused: in one simmilar example:
“the transfer of value is 46000, which is the dimunition of value of the donor’s estate at the time of donation”
then the book uses the 46000 as base for the IHT calculation
12000 x 0% (exempt)
34000 x 40% = IHT to be paid
———-
46000

in the same example there was a house at the time of donation valued at 99500, at the time of death it was valued at 110000, but the book uses the 99500 as base for the IHT calculation
so do we use OMV as base for IHT caculation or we use the original cost/dimunition of value at the time of transfer as base?
Thanks

[ban123]

Thanks, I got it
I mixed up two examples, my mistake

[ban123]

yeah 57

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@beata: I did the same

@pawelk thanks, damn I took the 75 from the set up example, note to self: read the question…
do they give partial credits here?

[ban123]

atahenrii: 160/250=64%, where did you get that 160? tanks

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@atahenrii: how did you get hat 64% POC? (billing was 75, totals sales 250) or used something else?

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not so great idea to put a finance exam on to the 3rd working day of the month, I was closing until 9 pm the day before…

[ban123]

I did at least 25 practice examples for consolidation, and none of them had that cont. liab. stuff, one had a decrease, the rest increase, so I messed up….., I got 5 550 k usd, I showed it separately before and after impairment, so they can pick whatever they like

[ban123]

what was the revaluation ? (50 million – 8 million acc depr.) 42 million to 60 million is 18 million, anyone got this? they tried to mess up with the land going up 2 million, but it does not make any difference, or I got messed up, some says it is 16 million

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suni419 – I was buffled here too, because it should be the difference of the old and the new depreciation, but I could not figure out the old depreciation charge (that would have been if not revalued), so I divided the revaluation amount with the useful life – not sure

[ban123]

associate profit 800, 300 goes to balance sheet (not required here) in the investment account and 500 went to P/L already booked, so I did not do anything with it, it is called equity method F3 stuff actually

[ban123]

Hi Mike

“Sander had an intangible asset of 500 000 usd for software in its balance sheet, parent’s directors the software not recoverable at the date of aquisition, and Sander (subsidary) wrote it off shortly after aquisition”

the solution:

fair value adjustments
aqusition movement year end
(500 000) 500 000 –

so in the Retained earning Sander has 500 000 usd
Thanks

[ban123]

Dear Mike
yes, but those items are under the header “non-current” liabilities, and the definition states that “total assets-current liabs”
Thanks

[ban123]

ok, with your answer in mind…the OCI has the 500 000 usd in the given statement of comprehensive income, so that means it went through the other accounts, this is always a grey area for me, what is booked and what is not, the questions are not always clear and sometimes I make extra JEs

anyways Thanks a lot

[ban123]

sorry my bad, the fair value of the building should be 34.8 million, then with JoJo’s approach credit the building 2 million, its cost is now goes from 36 million to 34 million, and the revaluation is realy 0.8 million, so the practice solution is correct

Thanks for both of you

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