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  • April 19, 2017 at 4:03 pm #382661
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    i saw my name, it should work now.

    April 17, 2017 at 1:19 am #381760
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Link theories didn’t work on me

    April 17, 2017 at 12:11 am #381679
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    55% ? Thanks God and tutor

    March 7, 2017 at 4:04 pm #376314
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    additionaal procedure
    Review the new legislation and the min requirement
    – confirm with HR the no of employee below min wage
    Discuss with management and HR for the possibility for salary increment
    Recal the salary
    Obtain the lease agreement and review tems (any max lease amount?)
    Discuss/ written representationwith lessor for expected lease costs

    Forgot other issues…anyone write same as me ?

    March 7, 2017 at 3:51 pm #376308
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    For q5 last question

    5 marks i put
    – adequate information, IAS 1 complied with.
    – auditor will express an unmodified opinion
    – but include a separate section Material Uncertainty Related to Going Concern.
    – highlight the difficulties
    – draw the reader’s attention to disclosure notes
    – immediately after the Basis for
    Opinion paragraph, before the KAM section.
    – charged with governance should be informed : inclusion of the paragraph, proposed wording

    March 7, 2017 at 5:14 am #376124
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    I put IAS10 for planned acquisitions too
    Audit procedure include
    Review the disclosure
    Review the legal document – consideration of 130m, date
    Review board minutes for approval the acquisition
    Discuss with management on the expected revenue earned, if it can replace the existing products
    Obtain the DD report and review the consideration to be paid is reasonable or not

    March 7, 2017 at 4:14 am #376118
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    For 1st company
    I put
    Advocacy threat – promoting client interest re bank loan
    Self interest – % increase in audit fee if complete before a certain date
    Self -review – review of internal control
    Possibly intimidation – significant client – dismissal from office issues

    2nd
    Self interest
    Self review for valuation (but immaterial, still acceptable)
    Misunderstanding the role of engagement quality reviewer ??

    3rd can’t rmb details
    Self interest
    Self review

    March 6, 2017 at 2:02 pm #375966
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hope to get a pass! Paper was not difficult had a lot to write

    January 16, 2017 at 12:05 am #366961
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    55:) thanks god can’t believe I passed !

    December 7, 2016 at 5:04 pm #355109
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    @shahimk said:
    IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 and applies to an entity’s first annual IFRS financial statements for a period beginning on or after 1 January 2018.

    thanks for your info but I thk early application is permitted and it looks applicable to me :<

    December 7, 2016 at 5:00 pm #355106
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    ACCA posted the questions online. If tutor has any comments ?

    December 7, 2016 at 11:50 am #354966
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    For investment property, only 8/10 should be resognisd = 96 x 8 / 10
    And two floor PPE = 81 x 2 / 10

    Not sure if I rmb the number correctly
    And the deprciation part I assume it is recorded correctly as per question said.

    December 7, 2016 at 11:46 am #354965
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    For the revenue part – I thk discount should be included as per IFRS 15 step 3.

    So the revenue should be 6000×960 + 7000×1000

    They didn’t purchase over 15000, no further discount should be recognised

    December 7, 2016 at 8:37 am #354905
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    I did almost the same with you

    December 6, 2016 at 5:19 pm #354611
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    @rana91 said:
    does anyone know anything about question 3 part B and C?
    that was horrible

    also, i ran out of time and didn’t calculate the profit attributable to NCI, also didn’t have time to actually do the statement and include the adjustments 🙁 i did all the workings though except for working number 7. how bad does that sound? i really don’t wanna fail ?

    Question 3 B C really horrible .. I don’t know what to write even re read the questions for numerous time

    December 6, 2016 at 5:18 pm #354609
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    But there’s no definitely right or wrong in this exam , marks will be scored for valid argument
    So don’t panic 🙂

    December 6, 2016 at 5:16 pm #354606
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    @neilsolaris said:
    For the property in question one I accounted for a tenth as PPE (i.e. with depreciation for the year), and the remainder as an investment property (no depreciation for the year). I don’t know for sure if that’s right.

    PPE the floor to boo ?
    And one floor I forgot the issue

    December 6, 2016 at 5:14 pm #354601
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    I think minor is not Euro
    – not autonomous
    – level of transactions with parents (dividend all the profit)

    December 6, 2016 at 4:34 pm #354556
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    First and second floor should not recognised under IAS40?

    December 6, 2016 at 4:26 pm #354554
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Question two is fairly easy
    a functional currency similar to one of the past paper
    s – dollars
    Major – yen
    Minor – dollars

    B intangible assets
    Impairment to 500000 and amortise over the remaining term

    c related party disclosure

    Question 3 is tough for me
    Part a IFRS13 level one input should be used
    Part b and c don’t have enough time and can’t think of anything though

    November 28, 2016 at 11:55 am #352137
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hi tutor,

    Working 8
    Non-current liabilities
    Kutchen 67
    House 12
    Mach 28
    Reduction of pension obligation (2 + 2·4) (4·4)
    Deferred tax asset (1·25)

    Thanks

    November 27, 2016 at 6:11 pm #351950
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hi tutor, I would like to know the cost for library before depreciation is 2.1 instead of 5-2.1=2.9?

    Is it because of the replacement cost is the cost need to be capitalised ?

    November 25, 2016 at 5:33 pm #351486
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hi may I know why DTA is recorded under non current liability instead of presenting under assets ?

    November 23, 2016 at 10:48 am #350930
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Can you please confirm my understanding –
    Minny had designated as FV through OCI. However, when Minny achieved significant influence, the gain of previously held interest will transfer to RE, right ?

    I also have some questions on this.

    Puttin: share of post-acquisition retained profits (W3) (4·5 – 2)
    Dividend income from OCE 2·00 { Understand that dividend should not go to OCI but RE}

    But why -2 in share of post-acquisition retained profits ?
    Dividend in that case was net off ?

    November 19, 2016 at 9:03 am #349954
    mysterykakahh
    Member
    • Topics: 27
    • Replies: 42
    • ☆☆

    Hi tutor, thanks for your reply.

    For the first bit, if the question revised to sell the patent right in exchange of cash, we will use IFRS5 , right ?

    The reason to use IFRS9 in the question because the equity investment falls into the scope of it

    Please correct me if I’m wrong.

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