[kulwants]

Hi Mike,

I understand that MCQ can be from anywhere and it’s good to be thorough with the syllabus for this. But as I go with the chapters like revenue and inventory or leases or maybe even conceptual and regulatory framework for financial statements(theory only). Should we be as good in theorey like ready with pointers to write down in exam or a general knowledge and understanding of topic is enough?
Because, I feel bit confused deciding if I should invest time in learning the pointers?

In short, any specific topics which we should we well versed with to answer theoretical LONG answers..?

Thanks,
Kulwant

[kulwants]

It’s mentioned in the “statement of profit and loss for the year ended 30 September 2012” in the question. It’s difficult to comment what type of investment income it is as it’s not part of adjustments (relevant information to the question). See question, you would understand.

Investment income Viagem -500 and greca -nil.

My question is why is not not included in the consolidated statement of profit and loss for viagem for the year ended.

Thanks

[kulwants]

Hi Mike, what happened to the investment income that appeared in the pl in the question with Viagem of $500,000 ?

I can’t see it in the answer anywhere.. can you please explain..

[kulwants]

Sir, one more question on the same question. I am not able to understand how did we get inflated sales revenue for year 2 as 2,817.26 as against the normal sales revenue of 2,570?
I understood that in the first year the below has been done as

1250*1.047=1,308.75

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