[densdumbo1]

What will be the best plan…starting with section a or b….if i want to complete the paper on time ..?

[densdumbo1]

I wanted to ask that since section A now is gonna have mcqs…do we have to show the working ?

[densdumbo1]

Thanx Gabriel

[densdumbo1]

actually i dint mean to ask about the forex translation reserve….i meant the csofp…the group retained earnings and nci working …there are 2 ways 2 calculate it….
as per a few texts…
…………………………………………………………………………
method 1.

in the nci working…they do ( value of nci at acq translated at closing rate + nci% of post acq movement at avg rate )= carring value of nci

and group retained earnings = 100% parent retained earning + parent% of post acq movement translated at avg rate

or

method 2 .
nci working =value of nci at acq translated at closing rate+ nci % of post acq movement translated at closing rate

group retained earnings working = 100% parent retained earnings + parents % of post acq movement translated at closing rate …+/- gain /loss on retranslating the cost of investment of subsidiary
…………………………………………………………………….

the amounts that i get from the nci and group retained earnings will be different in both the methods…will the marks be deducted if the amounts are not what the markers want….

but at the end when i prepare the consolidated sofp…using the amount i got from either method of nci and group retained earnings ..the csofp does tally….

by post acquisition movement…i meant (net assets at reporting date – net assets at acq)

i hope you understood what my doubt is ..:)

thank you

[densdumbo1]

yup i actually meant that a subsidiary is acquired as a discontinued operation and it has been diposed off within 6months…so whatever pre disposal results of that subsidiary should be recognised as profit from discontinued operation …and the pprofit on disposal of that subsidiary should be added to it ….but in the kaplan text ..there is a sum where they have taken the profit on disposal as a part of profit and loss …

thank you

[densdumbo1]

pls help..

[densdumbo1]

.i normally use ur method only…but i misunderstood d question….now i got it…thanks a lot sir 🙂

[densdumbo1]

and what if they give
cost of asset =110000
an annual cash flow for 5 years= 24400…
scrap value = 10000 in 5yrs
depreciation to be charged on straight line basis….

in this case if i calculate (total cash – total depreciation ) n then divide by 5 years….{24400-(110000-10000)}/5yrs…how can i calculate d avg annual post dep prft …il get a negative value…which makes no sense at all..?
what do i do in this case ?

[densdumbo1]

yup…it all makes sense now…thanks a lot 🙂

[densdumbo1]

thanks ..i finally got it.

[densdumbo1]

thanks dude…

[densdumbo1]

thank you …but what are the concepts that require more attention ?…for eg. test of control procedure , threats , safeguards, sampling etc….can u pls tell me wat i need to concentrate on in each chp of audit n assurance ..pls

[densdumbo1]

thanks a lot…this really helps

[densdumbo1]

but i dint understand the main concept of money market hedge….y do you have to loan when we are having a receipt…and why deposit when we are supposed to pay?.and which currency to convert in case of a receipt and payment …..pls help….

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