• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

juve

Profile picture of juve
Active 4 months ago
  • Topics: 59
  • Replies: 77
  • ☆☆
  • Profile
  • Forums
  • Topics Started
  • Replies Created
  • Engagements

Forum Replies Created

Viewing 25 posts - 1 through 25 (of 75 total)
1 2 3 →
  • Author
    Posts
  • August 7, 2017 at 8:26 am #400864
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello again

    Thank you for your reply

    Fortunately I am an ACCA affiliate and I donot have homework for nights or even stress for exam.
    I made it as we may have this case in my country.

    Thank you very much.

    May 7, 2017 at 7:36 pm #385240
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello again and thank you for your reply…

    Please take a look at this example:

    A company has $1 cash and $2 rec.at the start of the year 1$=1000R and at the year end 1$=2000R…and assume that there is no other profit or loss for this co.
    So its profit(R) is=1000+2000=3000

    If we want to prepare cashflow(R) and adjust for total exchange gain or losd:

    Pbt 3000
    Adjust for:
    Total exchange gain (3000)
    ————————-
    0

    Increase in rec (2000)
    ————————-
    Total cash flow (2000)
    Cash at start 1000 Exchane gain on cash 1000
    ————————
    Cash at year end 0

    Which is incorrect…

    But if adjust only exchange gain on cash,our cash flow(R) will be as follows:

    Pbt 3000
    Adjust:
    Exchange gain on cash (1000)
    ————————–
    2000

    Increase in rec. (2000)
    —————————-
    Total cash flow for the yr 0
    Cash in advance 1000 Exchange gain on cash 1000
    ————————–
    Cash at year end 2000

    Which is correct…

    So it seems that we must adjust for exchange gain or loss on cash and cash equivalent and not the total amount of exchange gain or loss…

    If what i wrot is incorrect please tell me the incorrect points.

    Thank you in advance

    May 6, 2017 at 9:27 am #385059
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    @juve said:
    Hello dear tutor

    I hope that you are well

    if we want to use Indirect method for preparing SOCF how should we treat with exchange gain or loss on monetary items?I know that as a non cash item which was previously added to (or deducted from) the profit, we should adjust the total effect and i know that we should show exchange gain or loss on cash and cash equivalent in the seperate line at the end of the SOCF.

    this is extracted from IAS 7:
    here(indirect method), you start with the profit or loss before tax and then you adjust it for the effect of:

    – Working capital changes over the period (inventories, operating receivables, payables);
    – Non-cash items (depreciation, unrealized foreign exchange gains or losses, etc.);
    – Items associated with investing or financing activities.

    in the above text it is said that we should adjust for TOTAL unrealized exchange gain or loss but by looking at a simple example(if it is necessary i will type it in the next message), it seems that we should adjust for exchange gain or loss on CASH and CASH EQUIVALENT only…so which one is correct:

    1- Adjust for the total exchange gain or loss(according to the IAS 7) and account for the effect of exchange gain or loss on rec. and pay. in ‘working capital changes’ and account for exchange gain or loss on cash and cash equivalent at the bottom of the SOCF
    OR
    2- Adjust for exchange gain or loss on cash and cash equivalent ONLY account for the effect of exchange gain or loss on rec. and pay. in ‘working capital changes’ and account for exchange gain or loss on cash and cash equivalent at the bottom of the SOCF?

    Thank you in advance

    February 18, 2017 at 7:46 pm #373068
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello dear tutor

    Hope that you are well

    My question is about consolidated cashflow when we have classified our subsidiary as ahfs(asset held for sale)…

    How should we show the subsidiary’s cash in consolidated SOCF?

    Many thanks

    January 3, 2017 at 6:27 pm #364948
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thank you very much

    December 31, 2016 at 6:42 pm #364732
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thank you for your reply

    So you mean that the parrent company should realize the amount of unrecognised forex reserves(transfer it from OCI to sopl) when it loses the control…
    And we should transfer share of unrecognised forex reserves to the nci as we have control on the subsidiary(treat as a transfer between owners)…

    I mean the key point is CONTROL…

    Realize it when you lose your control…

    December 24, 2016 at 5:57 pm #364398
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thanks alot

    December 21, 2016 at 4:33 pm #364161
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Many thanks for your advices…I think i have no problem wirh 1&2 but i have one more question:

    There are 3 valuation techniques:
    1-market approach
    2-cost approach
    3-income approach

    What are the differences between these 3 approaches and those 3 inputs?

    Thank you in advance

    October 19, 2016 at 9:13 am #344941
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    For example in the banking or insurance industries.

    The regulator body requires the entities to make provisions in a way that is not consistent with the accounting standard.

    or sometimes the entities are required to make SoFP and SoPoL while they have some new classifications that in not stated in the standard.

    Or for example the regulatory body issues some extra conditions for recognition of income/revenue or expenses in those entities

    and ….

    October 17, 2016 at 8:57 pm #344456
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello again dear MIKE..

    Yellow is my twin brother NOT sister…

    I have advertised your website and of course will advertise your website to everybody whom I know…this is the least thing which i can or better to said i must do

    Thank you again for your advices..

    October 17, 2016 at 5:20 am #343786
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello shantel 1279

    In my opinion you need 2 things:
    1-you should have good knowledge of standards ie P2…
    In this Q2 was a P2 question rather than a p7 questions

    2-you should be able to manage your time maybe better than all other papers…
    You should avoid writing extra points which arenot valuable…
    You should apply 1.8 minutes per mark rule as much as you can…
    You can read past posts about time management in p7-ask the tutor or even ask from Mike yourself…

    I hope that this will help you…

    October 17, 2016 at 5:04 am #343775
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello..

    In my opinion you need 2 things:
    1-you should have good knowledge of standards ie P2…
    In this exam there were many points from

    October 17, 2016 at 1:17 am #343695
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    I got 64…and Now I am an affiliate…

    Many many thanks to MIKE and opentuition as i think it was impossible for me to pass this paper without his advices…Especially his advices for time management…I think it was really time pressure one…maybe the hardest paper for students to manage their time…

    MIKE…I hope you a healthy life and thank you for your and other teacher’s advices from f1 to P7 and your great website…

    I have advertised and will advertise your website everywhere…

    October 17, 2016 at 1:05 am #343685
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello dear MIKE…
    I hope that you are well…

    Tonight I got 64 in my last sitting P7…

    It was impossible to pass this paper without your advices(I asked you many questions from anything (from different ranges…from auditing to how to manage time in this paper) and you answer all my questions…

    I am yellow’s brother(we are the twins) and I want to tell you many many thanks for all your helps…
    We have used your website from F1 to P7…and I think it was impossible to pass all those papers without OPENTUITION and have recommended your website to everybody….

    I hope you a healthy life which is better than any thing…

    September 14, 2016 at 10:31 am #340466
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thanks alot

    It really helps

    September 14, 2016 at 6:46 am #340436
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello and thanks for your reply…

    Normally stocks should be valued @ lower of NRV and cost BUT in IAS 2 it is said:
    “Also, while the following are within the scope of the standard, IAS 2 DOES NOT APPLY to the measurement of inventories held by: [IAS 2.3]
    producers of agricultural and forest products, agricultural produce after harvest, and minerals and mineral products, to the extent that they are measured at net realisable value (above or below cost) in accordance with well-established practices in those industries. When such inventories are measured at net realisable value, changes in that value are recognised in profit or loss in the period of the change

    So I have problem with agricultural stocks…

    Now my question is this:
    For agricultural product which one is correct?
    1-we must recognise them initially @ F.V-CTS @ harvest date and use this as cosy and then ANY change in F.V-CTS(whether increase or decrease) @ year end should be accounted for on inventory?(which at time of increase does not apply the requirements of measurement of inventories based on IAS 2)

    Or
    2-we must recognise them initially @ F.V-CTS @ harvest date and then use this as cost and any decrease in FV-CTS should be accounted for only(based on IAS 2 requirements)?and hence we should ignore increase in F.V-CTS..

    In my conclusion from this part of your reply ie “If value at year end is greater than at harvest date, again the higher closing figure for inventory will automatically reduce cost of sales and in turn increase the year’s profits” the first one is correct…

    I mean how IAS 2 DOES NOT APPLY to the measurement of inventories held by agricultural products?

    Thank you very much again and sorry if it is a very long question..

    September 10, 2016 at 2:34 am #339607
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thank you…

    This is not in P2 syllabus…

    And as I suggest you in ias 2 inventories(previous topic) you can delete it if you feel it is necessary

    Many thanks again for your helps…

    September 10, 2016 at 2:31 am #339606
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Many many thanks…

    You are right….

    I will search by my self as much as i can and only ask questions related to P2 in this forum(after this…so please ignore IFRS 6)…

    Also as a suggestion you can delete these 2 unrelated topics ie ias 2 inventories and ifrs 6 if you feel it is necessary…

    Again thanks…

    I will ask you more RELATED questions in the future….

    September 10, 2016 at 2:24 am #339604
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thanks alot….

    September 9, 2016 at 6:43 pm #339121
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Im sorry if i ask you many questions…

    I had passed P2….and waiting for P7 results this september as my last paper

    But now i am trying to study standards in a deeper manner…

    And unfortunately i have many problems…I think I can ask my questions here…

    Maybe I am wrong….
    Could you please tell me where should i ask my questions?i dont know…maybe in F7 Forum?

    Again Im sorry if i ask you many questions….

    Please advice me

    September 8, 2016 at 6:37 pm #339149
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello again…i hope that you are well

    As i told you…
    There is no time limitation or urgency for me in your replies.

    Also i will try to ask my questions in the format of IS IT CORRECT TO SAY in order to try to write as much as i can( and increase the chance of smaller replies by you in order to not waste you time)

    And i want you to answer any part of my questions you want( and do not answer to any of my questions if you feel it needs lots of time for typing or …)

    Thank you again and i am waiting for your answers whenever you have free time….

    September 8, 2016 at 5:44 pm #339131
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello again dear tutor

    I have passed P2 and now I am waiting for P7 results as my last paper in september

    now I am trying to study standards in a deeper manner…and i donot know where should I ask my questions…

    I thought i can ask my questions here and maybe i am wrong…

    I am sorry if i ask you many questions but please advise me where should I ask my questions?should i ask in F7 forum?or here?

    Thank you again for your helps and sorry if i bother you…

    September 7, 2016 at 5:27 pm #338668
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Another question:

    Q8)it is said:
    “Also, while the following are within the scope of the standard, IAS 2 does not apply to the measurement of inventories held by: [IAS 2.3]
    producers of agricultural and forest products, agricultural produce after harvest, and minerals and mineral products, to the extent that they are measured at net realisable value (above or below cost) in accordance with well-established practices in those industries. When such inventories are measured at net realisable value, changes in that value are recognised in profit or loss in the period of the change.

    commodity brokers and dealers who measure their inventories at fair value less costs to sell. When such inventories are measured at fair value less costs to sell, changes in fair value less costs to sell are recognised in profit or loss in the period of the change.”

    Q8)for agricultural product at time of harvest we must measure it
    F.V-CTS(even if it lower than cost) based on ias 41(assume it is 5m$) and then(at year end) there may be 2 situation:
    1-use this amount as cost and then apply ias 2 measurement requirements ie value it at lower of cost(NRV at harvest=in this example=5) and NRV(@ year end=in this exaple assume=6) so no change in inventories.

    Or 2-any changes in F.V-CTS goes to sopl ie in this example 1 goes to sopl(D:inventory 1 and C:sopl 1)

    Which one is correct?

    Q9)is it correct to say for brokers who use F.V-CTS any changes whether upward or downward should goes to sopl(and inventory)?

    Thank you very much…

    September 6, 2016 at 8:47 pm #338425
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Hello…

    In response to adinas:In my opinion it was a lease agreement because it said “the seller decide which asset to be used by purchaser” and in my opinion this means that the purchaser doesnt have control on it and so this is a lease agreement(operating lease) and hence there is the risk of overstatement of intangible asset…

    In response to corkandy:I mention this point ie in my opinion there was a risk of inappropriate or inadequate disclosures(in relation to ifrs 8 segmental reporting)

    I hope that these were correct…

    September 4, 2016 at 11:05 am #337472
    a53f23d430a7aad03b7e04e0db87ab4271ed126c96a346c80a5817c28d1a5a08 80juve
    Participant
    • Topics: 59
    • Replies: 77
    • ☆☆

    Thanks alot again….

    Your last question really helps…

  • Author
    Posts
Viewing 25 posts - 1 through 25 (of 75 total)
1 2 3 →

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • poojam on Objective of financial reporting – ACCA Financial Reporting (FR)
  • mm3677 on IAS 16 Accounting for a revaluation – CIMA F1 Financial Reporting
  • Anastesia123 on MA Chapter 1 Questions Accounting for Management
  • John Moffat on MA Chapter 26 Questions Variance Analysis
  • acowtant on Changes in group structure – examples – ACCA SBR lectures

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in