[manan66]

@Help99 dont worry be strong.. we r in the same boat..

[manan66]

the facebook page is location based… i am only able to access the india acca page and nothing on that…

[manan66]

lets see on monday if any finalist who did not get the email passed…

[manan66]

guys we dont have an option than just wait till monday… lets try to keep our anxiety down..this error has made it worse for the next 2 days…
wish you all best of luck…

PS:- i did not get the mail too..

[manan66]

Thank you for your reply. Its clear now.

[manan66]

got it.. Thank you for your reply Sir.

[manan66]

thank you for your reply Sir.

[manan66]

hi
did u give the exam in june session? are OT notes and lectures enough to pass?

thanks

Manan

[manan66]

yes sir, understood.. thank you for replying.

Regards

Manan

[manan66]

Thank you for your reply Sir.

[manan66]

Thank you for your reply.

I missed out on the trading word in the question.

[manan66]

Thank you for the reply Sir.

[manan66]

i have one more doubt in this question:-

the occupation pension contribution is 900. but deducted from the income before income tax computation. Why is that?

in question 6 (michael) , the personal pension contribution is not deducted from the employment income but added to the basic rate band for 20% tax at gross amount, but in this question the 900 is deducted from the income and then the income tax computation takes place.

I am confused as to why 900( gross 1125) is not added to the 20% tax basic rate band.

thanks.

[manan66]

Thankyou @f6ali

[manan66]

thank you for your reply, i understand it now.

Yes, i will go back to the lectures again and go through this part.

[manan66]

Ah!.. sorry my calculation was wrong.. yes it is 9.49…

thank you for your reply.

[manan66]

i got it now.. thanks for ur reply.

[manan66]

thank you very much for your reply

[manan66]

Hi,

Thank you for your reply.

but what im looking for is, its mentioned on the open tuition OBU section that
“You have not had more than 2 unsuccessful previous attempts”

what does this mean? does it mean if i fail twice in the ‘F’ papers i will not be eligible for the OBU Bsc?

[manan66]

this is not mentioned on the OBU website, so im confused on this.

[manan66]

You have not had more than 2 unsuccessful previous attempt

hi

i have a question regarding OBU requirements.
Does this mean from f1-f9 we should not fail in more than 2 exams or we should not fail any particular subject more than twice?

Thanks

Regards
Manan

[manan66]

hi Chris,

Thank you for your reply. I understand it now.

Regards

[manan66]

hi
I have missed one paragraph in the question. This is the last paragraph.

assuming the agreement is a lease, the following additional information is relevant:- initial direct cost associated with the lease were $15,000 and Zack co gave Elvis co. an incentive of $5000 to lease two machines. Elvis Co’s operations director was in charge of negotiating the contract. He billed 20 hours at $50 per hour to the contract. The administration staff also billed time to the contract, which amounted to $1000. The rate of interest implicit in the lease in 12%.

[manan66]

Question:-
Elvis Co. is a relatively new business, incorporated on 1 oct 20×5. u are currently reviewing the 30 sept 20×7 year end result and the following two issues have arisen:
Issue1:
Elvis Co. required additional finance to help launch a new product. On 1 Oct 20×6 they issued a 6% $60 million convertible loan note at par. Interest is playable annually in arrears on 30 sept each year. the loan note is redeemable at par or convertible into equity shares at the option of the loan note holders on 20 sept 10×9. the interest on an equivalent loan note without the conversion rights would be 9% per annum.

the present values of $1 receivable at the end of each year, based on discount rates of 6% and 9% are:

6%
end of year 1 = 0.94
end of year 2 = 0.89
end of year 3 = 0.84

9%
end of year 1 = 0.92
end of year 2 = 0.84
end of year 3 = 0.77

Issue 2:
On 1 April 20×7 elvis co entered into an agreement for the right to use two specified items of equipment for 4 years from Zack co. the two items of the equipment have a fair value of $340000 in total. Zack Co. is responsible for the repairs and maintenance and must provide a temporary replacement in the equipment needs repairing or servicing Elvis Co. keeps the equipment on their premises and allocates work to the machines as part of their normal operations. there is no right to purchase the equipment at the end of the agreement. the equipment has an estimated useful life of 5 years.

The terms of the agreement include four equal installments of $100,000 payable in advance on 1 April each year. After the initial payment of $100,000 the present value of the remaining installments is $240,000.

What is the value of the non-current lease liability at the 30 Sept 20×7?

correct answer according to BPP:-

answer is $ 168,800.

Liablility at 1 april 20×7 = 240000
Interest($240000* 12%*6/12) = 14400
balance at 30 sept 20×7 = 254400
interest(240000*12%*6/12)=14400
payment = (100000)
capital balance due on 30 sept 20×8 = $168,800

[manan66]

i still dont understant.. 🙁 why do we do fair value adjustment 2.4m$/8/3? why do we divide it by 3 and 8?

posting after watching the lectures several times..

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