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gangsta1

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Active 6 years ago
  • Topics: 75
  • Replies: 10
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Viewing 10 posts - 1 through 10 (of 10 total)
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  • May 25, 2019 at 12:58 am #517239
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    I would say redeem the “B” share at the $1 nominal value since this is much economically feasible from the company’s perspective when compared to issuing the “A” shares. In this case, since i have a contractual obligation to deliver the cash this will be classified as a “financial liability”.

    My rationale:
    I am thinking in the sense that i prefer to pay one dollar per share than to give away a portion of my company which has a current & historic proof of being valued at above $1 per share.

    This is my line of thought sir.

    May 23, 2019 at 3:27 am #516943
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
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    Never mind sir, the gain on translation of the goodwill was included under the heading “consolidated translation reserve” i just located this.

    But can this be reported under “group retained earnings” for the purposes of the exam?

    May 12, 2019 at 11:49 am #515693
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    But sir i have seen in your videos that you have made mentioned about step acquisitions.

    January 3, 2019 at 1:05 am #499730
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    For example sir, the cost of dismantling an oil rig.

    December 17, 2018 at 3:10 pm #492111
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    The title should have been IAS 37 sir and not IAS 38. The question still stands.

    September 16, 2018 at 2:02 am #474718
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    But sir, isn’t FVTPL the default classification for all financial assets?

    August 25, 2018 at 2:05 am #469307
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Thank you sir.

    July 28, 2018 at 4:04 pm #465068
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Sir, under the note of the financial statements for property, plant & equipment, it shows the following:

    Cost
    Accumulated Depreciation
    Net Book Value

    Under the heading, ‘accumulated depreciation’, sometimes there is a part which says “write back on disposal”. Can you please explain what this means via an example.

    May 12, 2018 at 11:07 pm #451539
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Sir for number 1 in particular this is the point i am trying to bring out by the audit test.

    1) I would look at the physical invoice and trace this back to the receivables ledger to ensure this invoice amount was included as part of the holistic receivable balance.

    Viewing the invoice in the client’s computerized system as at year end will tell me if a payment was received or not, hence this will tell me if it was unpaid as at year end or not. If unpaid as at year end, for this invoice i will trace it to the individual sales ledger to ensure it was included.

    September 24, 2017 at 3:06 pm #408509
    mysterygangsta1
    Member
    • Topics: 75
    • Replies: 10
    • ☆☆

    Thank you sir.

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