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When I am doing the financial analysis, I need to use the figures of the main company and the comparator from the balance sheet and income statement for 3 years.
Question is, what if the company and/or comparator have restatements in the financials? ie previous years figures have changed, can I ignore this impact and mention it as my assumption in my RAP? So this way, I just take each year’s annual report and take figures from each annual reportFor example,
If i am in the UK,
and the exchange rate between UK and US is 1 Pound= $1.52
This is an indirect quote? Because the cost of local currency (UK) is given in foreign currency (US)in the Kaplan text book, it says bank always buys low, this rule is for the direct quote right?
and for indirect quote it will be the other way round?I read in one of the articles that only direct quotes will be given
https://www.accaglobal.com/lk/en/student/exam-support-resources/fundamentals-exams-study-resources/f9/technical-articles/forex.htmlCan you please tell why IASB has issued the new standard, IFRS 15?
IFRS 15 is actually replacing IAS 11 and IAS 18 right?
So is there like a list of weaknesses in those standards? If so, can you please highlight them?Can you please help me with this question..
Golden Gate enters into a contract with a major chain of retail stores. The Customer commits to buy at least $20mn of products over the next 12 months. the terms of the contract require Golden Gate to make a payment of $1mn to compensate the customer for changes that it will need to make it its retail stores to accommodate the products.
BY 31 dec 2001, Golden has transferred products with a sales value of $4mn to the customer.
.
.
So here, Golden is paying a sum of 1mn as a compensation. So Golden is not actually receving any good/service, therefore should be treated as a reduction in transaction price. Is this how i am supposed to think?I have a doubt
in the 3rd step of IFRS 15, ie Determining the transaction price, we have to check if there is any consideration payable to a customer.
It says if the consideration is paid to a customer in exchnage for a distinct good or service, then it is essentially a purhcase transaction.
But if it is not in exchange for a distinct good or service, then treated as a reduction in transaction price.What i dont understand here is the meaning of “distinct good/service”
Can you please explain with examples.We can sit for exams on Septemeber 2015??
I thought the new sessions are going to start from 2016 onwards@rish21 said:
I thought for the rollover relief none of the gain was rolled over in to the base cost of the new one?hey thats what i did as well!
because sales-cost of new factory was more than the gain therefore we could not roll over
hope i am right :/ok…
can you help me out in this questionIn 2008 Ger was disqualified from acting as a company director for a period of 10 years under the Company Directors
Disqualification Act 1986 for engaging in fraudulent trading.
However, he decided to continue to pursue his fraudulent business and, in order to avoid the consequences of the
disqualification order, he arranged for his accountant Kim to run the business on his instructions. Although Kim took
no shares in the company, and was never officially appointed as a director, he nonetheless assumed the title of
managing director.
Required:
(a) Identify which of the following categories of directors apply to Ger and Kim:
(i) De facto
(ii) De jure
(iii) Non-executive
(iv) Shadow. (4 marks)(b) State the working relationship and duties of non-executive directors. (2 marks)
ok so you are saying contributories are people who WERE once shareholders, but currently not a shareholder because their shares were redeemed by the company?
and only such people can petition, not the shareholders?35 Which of the following CANNOT petition for the compulsory winding up of a company on the grounds of
INSOLVENCY under s.122 Insolvency Act 1986?
A The board of directors
B The members of the company
C The company’s creditors
D The Secretary of Stateans is B
Sir what are the chances of getting a decision trees question in the upcoming exam?
