[lkl881024]

Hi,

Once we had passed all the papers and was granted acca affiliate status, is there any time frame that we should complete the PER (let say within 3 yrs?) & proceed to obtain membership as soon as possible or else there is a risk that we will lose all the papers that we had passed?

Thanks in advance.

[lkl881024]

Sorry Sir,

Its actually a past yr question from p2 june 2012 q1. The model answer say $5m need to reverse from OCI and credit investment in sub.

Thanks Sir.

[lkl881024]

Understood. Thank you for the valuable advice Sir.

[lkl881024]

Sorry Sir,

It was my typing error in the previous post. I meant why can’t we use sales proceeds of 10 million to deduct 3.5 million to obtain the gain on sale? What is the reason behind this?

In what situation, we shall use sales proceeds to minus carrying value and not FV to minus the carrying value to obtain the gain on sale?

Thanks for the kind attention Sir.

[lkl881024]

Dear Sir,

Thanks for the reply. One more question, why can’t we use 10 million to deduct 3 million to obtain the gain on sale?

Thanks in advance Sir.

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