[phuonganhng]

Dear Sir/Madame,

After reading the above post, I have figured out that there are 2 cases:
– Goods are received before year-end & Invoice received after year-end
Goods received are recorded in GRN and found at the warehouse at year-end. However, the invoice has not been issued by the supplier, which results in risk that corresponding purchases and payables have not been recorded in FSs –> Affect CUT-OFF OF PURCHASE, PAYABLES.

– Invoice received before year-end & Goods received after year-end
There is risk that entity may record Purchase & Payables in FSs while Inventory have not found in warehouse at year end. –> Affect CUT-OFF OF PURCHASE, PAYABLES & OVERSTATEMENT OF COGS.

But as far as I concerned, company may perform year-end physical count or perpetual count, Closing inventory in SoFP should reflect the ACTUAL NUMBER of Inventory in warehouse so the recording of Purchase should NOT AFFECT CUT-OFF OF INVENTORY? (In BPP Kit answer, I often see the assertion is “cut off of inventory, payables, purchases” together).

Can you please confirm my understanding and help the explain the above question?

Thank you!!

[phuonganhng]

Dear Sir,

On 30 September, the property is being marketed at a price of $35m while the FV-cost to sale of the asset (I assumed) is 33-1.5=31.5m.

Does this statement indicate that the property does not meet the critera of “highly probable sale” and should not transfer to “NCA held for sale” on On 30 September?

I look forward to your explanation.

Thank you Sir!

[phuonganhng]

Thank you for your great help !!!

[phuonganhng]

Dear Sir,
I want to ask if there is any difference between “Dividends proposed” and “Dividends declared”? Is “Dividends declared” more certain to be paid to shareholders?

In this article 4.4.2, I found that dividends should be recorded when they are “declared” with a double entry of Dr RE/Cr Dividends payables on the “declaration date”. So in this case, is there a reduction in RE in the Statement of Change in Equity??

https://viewpoint.pwc.com/dt/us/en/pwc/accounting_guides/financing_transactio/financing_transactio_US/chapter_4_common_sto_US/44_dividends_US.html#pwc-topic.dita_1714094110199850.

I look forward to your reply.
Thank you Sir !!!

[phuonganhng]

Thank you Sir!!!

[phuonganhng]

Hi Sir,
I am wondering since the question stated that the “issue cost is expensed within finance cost”, we just record 9m$ as the FV of the loan note & 0.5m$ is expensed in P&L.
This means the total exp regarding the loan notes in P&L is = 0.5m$ + 9m x 8% x 6/12 = 0,86m$

I look forward to your reply soon.
Thank you!!

[phuonganhng]

Thanks Sir!

[phuonganhng]

Thank you, Sir!!!

[phuonganhng]

Thanks for your help!!!!

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