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add me owais875@gmail.com
i think there is only one article published in 2014 Student Accountant. its titled BUSINESS VALUATION and it is listed on this page https://www.accaglobal.com/ie/en/student/acca-qual-student-journey/qual-resource/acca-qualification/p4/technical-articles.html
<cite>@hazelnuts said:</cite>
Hi owais875,The analytical procedures are ratios. You would have seen a trend in the cash (Liquidity ratios), that fell from .82 to .24 – indicating that they may not be able to pay their short term obligations when they fall due. This would also impact on the development cost being capitalized, as in order to do this, the company would have to be able to generate economic benefits from the asset which was not probable as they would not be able to have sufficient cash to continue the development of the product. In addition, you could calculate supplier and debtor days and would have seen the trend there too.
Also, I spoke about the going concern issues that were triggered by the Low cash, aggressive competition and being highly geared (additional loan did not help out the cash problem). The risk for the audit: Financial Statements prepared as going concern and should have been prepared on a break-up basis.
Not sure if I was right on this, but would welcome additional comments.
Cannot remember question five???
Any idea about analytical procedures marks???
<cite> @opentuition_team said:</cite>
Download P7 J13 questions:I wish the question paper was accompamied by answers to give us a bit of relief
What analytical procedures were to be conducted in q1(a)??? Ratios???
What about q5(a) & (c)???
Quote:@owais875 said:
KINDLY ANSWER THESE QUERIES
Q1
*what was the treatment of SALES TO SQUARE AND PURCHASES FROM PYRAMID??
*what was the treatment of last note of question regarding fv of other equity??Q5
*DIFFERENCE BETWEEN RULES AND PRINCILE APPROACH & WHICH APROACH IS MORE DESCRIPTIVE FOR IFRS??
*ADVANTAGES FOR BAXEN OF IMLEMENTING IFRS??i although calculated deferred consideration and included it in current liability,i forgot to include it in coi which resulted in nil goodwill and forgot to calculate unwind of discount
in my opinion,paper was lengthyHi Owais
The purchase and sales gave us an Idea that there was an Inventory that would had been found in Square’s inventory, had he received it by 31st March and not 2nd apr.
When we account for this in the books of Square.. It would be DR Inventory and CR Payables..
Then we eliminate the above balance in Payables ($1,500) and the given balance ($1,700) against receivables balance ($4,400).. The balance of ($1,200) should have been the settlement made by Square not received by Pyramid until year end, therefore we increase the bank balance by same..(Please let me know if any one of you has a different idea)
k…thnx for explaining in detail ahmed
@ahmedmirza said:
Hello there..I think the investment in Cube was given in the SoFP at value of $6m. What I did was accounted the share of profits of $600,000 ($2m (Post-acqusition R/E) X 30%)
Please let me know if any of you have a different idea.
I think you were supposed to time apportion it for six months also, since the associate was bought in October, and the accounts were made in March.
the associate profit was mentioned by saying that associate made that much profit in six months so i dont think v have to time apportion that
m i ryt???
KINDLY ANSWER THESE QUERIES
Q1
*what was the treatment of SALES TO SQUARE AND PURCHASES FROM PYRAMID??
*what was the treatment of last note of question regarding fv of other equity??Q5
*DIFFERENCE BETWEEN RULES AND PRINCILE APPROACH & WHICH APROACH IS MORE DESCRIPTIVE FOR IFRS??
*ADVANTAGES FOR BAXEN OF IMLEMENTING IFRS??i although calculated deferred consideration and included it in current liability,i forgot to include it in coi which resulted in nil goodwill and forgot to calculate unwind of discount
in my opinion,paper was lengthy