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Thanks for the reply. Well explained.

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Thanks for your response.

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Congratulations… kindly share your study tips @hhw93 and do I need to write FM and FR before writing AA

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Thanks John for your detailed explanation. I see why I had challenges understanding the question, I haven’t studied CVP analysis.

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Thanks so much @kaiyoong for sparing your time and explaining in detail.

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@Clarejames52 congratulations.kindly share your study tips. Thank you

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@kaiyoong congratulations. kindly share your study tips/pattern as this might help as I intend taking PM next.. Thank you

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@ceriset congratulations.. please share your study tips

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Thank you opentuition. I scored 65%. I used your lecture notes and videos and bpp revision kit. I am excited and grateful!! Thank you

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@lila88 the first car there was a disposal which resulted in balancing allowance

The second car was not disposed hence it still qualifies for writing down allowance

Remember this formula

Tax Adjusted trading profit = adjusted trading profit – Capital allowance

When the resulted capital allowance results in a negative figure

The tax adjusted trading profit = adjusted trading profit + Capital allowance

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@xanpech Acca taxation is a rule based exam. Just stick with the rules instead of asking why do you don’t get confused.

Use of asset is 20%
Living accommodation if furnished the additional tax benefit is 20% on the furnishing cost.
Beneficial loan are usually at the rate of 2.5% per annum
The taxable benefit on the cost of running Job related living accommodation if paid by the employer is 10% on other employment income (heating water and other running expenses are not included in the calculation)
COUNCIL TAX is exempt for job related accommodation but are taxable in employee living accommodation that are not job related.
I hope I have helped a bit.

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@ecojames thanks a lot and congrats once again

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@ecojames congrats. Can you share your study tips

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Thank you for the detailed explanation.

Totally understand the concept now.

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please can you share your study tips and how many months it took you to study. thank you

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Thanks a lot for a simple and explicit explanation.

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Thanks. yes i have watched the free lectures. got a little confused while solving questions on depreciation from revision kit.
I have a better understanding now.

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@secondstar thanks a lot…your explanation have solved my problems on this topic

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@secondstar thanks a lot..u have solved my problem on this topic.very comprehensive.

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The total of the list of balances in Adele payable ledger was 438,900 at 30th June 2008. This balance did not agree with Adele payabLe ledger control account balance. .The following errors were discovered, 1.A contra account of $980 was entered in the payable ledger control account but not in the payable ledger 2.The total of the purchases returns journal was under cast by $1000 3.An invoice for $4,344 was posted to the supplier’s account as $4,434..WHAT AMOUNT SHOULD ADELE REPORT IN IT’S STATEMENT OF FINANCIAL POSITION AS ACCOUNTS PAYABLE AT 30TH JUNE 2008 ? A.439,790 B.436,830 C.437,830 D.438,010. …please I am a bit confused with how the invoice of $4,434 was corrected,A detailed explanation thanks.

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