[hiiamram]

I see thanks for the clarification Mr. ken garret

[hiiamram]

Oh sorry sir I forgot to mention sir its there in the Kaplan exam kit strategy part if the question is not in a bpp kit it would be available on the site mentioned below, basically the P3 paper June 2013 attempt question 2

https://www.chinaacc.com/upload/html/2013/07/01/lixingcun14622a2ae3934c32bcb87fad62d3f210.pdf

[hiiamram]

Thanks for the quick response sir

[hiiamram]

Great thanks for the quick response. I’m Writing using CBE and practice using a word processor Also your reply was also much easier to read as it was in small paragraphs compared to a clumped question of mine.

So I think I get what you mean by the examiner finding it difficult to read huge clumps of words.
I’ll be sure to use the system you have mentioned with my practice moving forward so that I can perfect it.

Once again thanks for the insights means a lot Sir

Have a great day

[hiiamram]

Thank you for the response sir it was a pleasure learning FR from you , you have my sincerest respect ,admiration and gratitude . I loved each moment of your lecture , the way u speak and so on ,always be happy and cheerful as you are in the lectures sir stay blessed

Huge fan !!

[hiiamram]

Then ill go about doing all the section c question. and if I get stuck somewhere get back to you on another thread. Thank you, Mr John, for clarifying my issue and it was a pleasure learning FM through your lectures you have my sincerest gratitude and respect.

[hiiamram]

Dear sir,

just to make things completely sure that I understood your explanation

(a) in the example the total cost is $60,000 in that $52,000 relates to cost incurred and $8,000 relates to expenditure on inventory for future use.

(b) $8,000 we completely ignore in both spl and sfp since it is not related to the current performance objective

(c) $52,000 gets shown in the contract asset a/c because as per the performa and the rules we recognize whatever is incurred to date

(d) now comes the last part which is spl can I assume that from the $52,000 spent there is a certain portion yet to be used to carry out the performance objective hence we only recognize $43,200 which is the balancing figure from step 3

Have I gotten it right this time sir?

And thanks a ton for taking your time and explaining to us

[hiiamram]

Dear sir

Yes I understand now and after going through the payables part of the lectures it’s more clearer thank you for clearing my doubt

[hiiamram]

Dear sir,

Thanks for your clear explanation and I have understood.

Have a great day

[hiiamram]

many thanks sir i’ve understood now i mistakenly thought the increase in cost of inventory held was holding costs of inventory thank you for your simple and clear explanation and yes I do always watch your lectures before attempting the exam kit . once again thanks for the explanation and have a great day!!

[hiiamram]

i understand sir,Many thanks for your great explanation ill be sure to rewatch your lectures 🙂

[hiiamram]

Sorry there is a correction in the question I meant to ask about the indirect part, not the direct one.

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