[Hung Vu]

Hi Sir,
I know that IAS 17 no longer exists but IFRS 16 is only effective from 2019 on wards, so if the question notes that we’re auditing the FSs for the year ended 30-Sep-17 then i don’t think the reference to IFRS 16 is appropirate.
Please help me to clarify this point.
Regards with thanks,
Hung Vu

[Hung Vu]

please help me with the question above.
Thanks Tutor

[Hung Vu]

OMG!!! I’m so sorry for asking this, i’ve completely missed the information abt tax rate 20%.
Thank you very much, John 🙂

[Hung Vu]

Hi Mike,
As you explained above about the reversing the second entry and leaving the original one that was made as at acquisition, however, in the answer of Dec 14, i can’t see any adjustment related to Liabilities. I want to know why we only make adjustment to RE without adjustment for Liabilities ( $5m)

[Hung Vu]

okie, thanks Mike 🙂

[Hung Vu]

Hi Mike,
As you reply above, when Parent sell goods to Associate, URP need to be adjusted by the journal entry of DR Retained Earning/CR Investment in Associate.
I want to know what is adjusment entry for the URP in case of the Associate sell goods to Parent company and there is URP at the year end?
Thanks

[Author]

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