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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.
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?
But sir i have seen in your videos that you have made mentioned about step acquisitions.
The title should have been IAS 37 sir and not IAS 38. The question still stands.
Sir, under the note of the financial statements for property, plant & equipment, it shows the following:
Cost
Accumulated Depreciation
Net Book ValueUnder 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.
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.