Forum Replies Created
- Posts
Q1
• Pension obligation-With curtailment/settlement
• Goodwill, it says that Fair Value of Net Asset of the Subsidiary excludes Pension Obligation???. Treatment of Legal Fees (this include issue cost for the shares)
• Land and Building Acquisition using shares (Should be treated as IFRS 2 Share based payment?? the asset as Investment Property)
• Derecognition of Financial Assets (not sure, it says sale of 100% right but the seller guarantees the loss)Q2
• Ethics
• Intangible Asset
• One day or 36 months Credit Losses???
• Computation of Credit Loss: 12month and Expected lifetime credit LossQ3
• Joint Operations
• Decommissioning cost – Provision and IAS 16
• Inventory and Adjusting Event
• Restructuring/ Redundancy? (It says that the employees are self employed and they are not entitled for redundancy pay) /Prior period Adjustment (as in the next year it technically feasible)Q4
• Sustainability Report and Integrated Reporting (Differences)
• Sustainability report
• Government Grants / Intangible Assets
• Effect of foreign Exchange and Adjusting event (There is a significant fall on the value of dollars?)@davidpoore1983 said:
In section C did anyone get a NPV for a machine that cost 1m and project was over 4 years. Fixed costs were 50k and sales were at 3000 a year. I got a negative NPV and think messed up big timeGot this one too.. But I had positive NPV..
and the 2nd question which is outsource has a higher NPV@nharrowing said:
Disposal of sub gain of $850k, goodwill was 1300 impaired to 650.
P&L loss of about $3.04m. Deduct overstated inventory from cos, expense brand name promotion 1300, amortise patent 100, gain on IP 200 in investment income, tax refund 560 & provision was 1500 to admin expenses. 4500 already accounted in previous year so Dr expense Cr provision. Actual provision 6000, so Cr cash 6000 already recorded, dr expense 1500 & dr provision 4500 as not needed anymore.
Section a & b difficultHi.. Just want to confirm if the error in inventory is current or prior year?
I remember it as current but some of my friend told that it is prior year?Hi.. Just want to confirm if the error in inventory is current or prior year?
I remember it as current but some of my friend told that it is prior year?Dear Sir,
Thank you for your reply.
However, IFRS 15 Par B21 states to record refund liability on the expected amount? so I presume Statement 1 is correct?:
B21 To account for the transfer of products with a right of return (and for some services that are provided subject to a refund), an entity shall recognise all of the following:
(a) revenue for the transferred products in the amount of consideration to which the entity expects to be entitled (therefore, revenue would not be recognised for the products expected to be returned);
(b) ? ?????? ????????? ??? ??? ??????? ???????? ?? ?? ????????; and
(c) an asset (and corresponding adjustment to cost of sales) for its right to recover products from customers on settling the refund liability.Regards,
Jefrey
