[Sakina]

Hey Sir

Thanks alot! I have started the accounting standards now, just a lil shocked on the amount of accounting standards which we have to go through and learn! Any tips on how we can efficiently remember and apply them
Couldn’t they make it any simple. ?

Im giving the exam in march,

I have finished all the lectures except the accounting standards and interpretation of financial statements. Hope to reach wrap everything up on time!

[Sakina]

Hi Sir

So i tried to find this question on the revision tab, but it seems to be not available.

I have done this question perfectly only stuck on the finance costs, i am not able to get it.

Can you please help understand on a step by step basis of how we got 2500 as finance costs for subsidiary.

I am okay with Parents share of 1800 and i am okay with the adding back on inter company interest of 2000.

But the 2500 for subsidiary is where i am stuck, please if you can explain it in a simplified manner.

[Sakina]

Can u explain shared services pls? With an example?

[Sakina]

thankyu..

sir i needed to ask u if i use d revision kit of FA2013 Which was last years revision kit.. will dt be a huge problem.. will i miss out alot.. or will i manage?

[Sakina]

😛 well last time wen england was in sl.. sri lanka won d series sir 😀

and d world cup.. we know to share and care.. not like indians #wewontgiveitback

anywayyyy sirr il be sitting for f6, f7, this june together with dt what u think is a good combination? F8, or F9?? which 3 papers u think i shud sit?

[Sakina]

hi sir, i needed to ask if the notes provided by opentution is up to date for june 2015 exams??! 🙂

[Sakina]

HIIII SIRRRRRRR!!!!!!!!!!!!!!!!!!!!!!!!
REMMM MEEEEEEEEEEEEEE 😀

CLEARED ALL MY EXAMSSS WHICH I SAT IN DEC..

THANKYU THANKYU THANKYU SO MUCH!!! 🙂

[Sakina]

SIRRR! congrats england won 😛 lol

and are u gng to upload d answers sir?

[Sakina]

they had asked in d exam which of the following is NOT in english law

i selected public law!

[Sakina]

sir the questions are uploaded on acca.. for eng variant..

will u be uploading d answers sir?

[Sakina]

dnt worry sir dnt let d match get to ur head! 😀

btw i wanted to know if public law comes under english law?

[Sakina]

Hiiii sirrr…

dd d exam todayy.. d paper was okayyyyy! lol
i owe this BIG thankyu to u and ur team.. url are dng a great great job!
i dont know if i pass or not but even if i do itl be due to ur knowledege and skills of teaching and making it so simple..!
SO THANKYU THANKYU THANKYU! 🙂

will keep u updated on d next match between sl and eng which is on wednesday sir 😉 😛

[Sakina]

sir what exactly is off-the-shelf companies?

[Sakina]

ohhhh sir thankyu.. ur brilliant.. wished i cld exchange brains with u on d exam day!

ok another question.. equity has 3 remidies
specific performance
injunction
equitable
i know dt specific performance is not for personal services.. i hope im right.. if u can elaborate my dis answer and also plz explain d other two wld be great help!

[Sakina]

sir is it important to learn or remmember the case names exactly?

because its MCQs so is it important now?

[Sakina]

Hiiiii sirrr howw uu ? 🙂

Just needed to thankyou for all ur effort u have put in getting all of us through.. and the help always rendered to us!
But without ur help we wouldnt have understood a thing..
i really dont know how much il get.. and what i hve done in the paper..
but even if i do pass in such a small time of studying itl be due to u and ur team sir!

Sorry for all the bugging always 😛 😛 lol

[Sakina]

sir what exactly is capital employed?
is it the net assets – net liabilities
or capita plus reserves plus long term liabilities? ??

[Sakina]

sir so den dt means im supposed to compare ds with 5100 and 4444? and what will be d rate of 4444?

[Sakina]

sir there is a material yield question

A mix of three materials produces 0.9 liters of a finished product, with 10% loss of input in the process. standard material costs are as follows per 0.9 liters of output.

Material
X: 0.5L @ $2 Per litre
Y: 0.4L @ $1.5 per litre
Z: 0.1L @ $4 Per litre

During a control period 4000 litres of output were produced. these used 2810 liters of material X, 1910L of Y and 380L of Z

What is material yield variance?

my answer:

ACTUAL:
2550+2040+510=5100LITRES
5100+3060+2040=$10200

STANDARD:
4000 * 1L= 4000L

therefore
0.5/1*4000= 2000L
0.4/1*4000=1600L
0.1/1*4000=400L

2000+1600+400=4000L
4000+2400+1600=$8000

Therefore variance diff would be $8000-10200= 2200A

BUT APPARENTLY MY ANSWER IS WRONG.. dnt know whr i went wrong plz help out

[Sakina]

thanks alot sir! i got it

[Sakina]

ohh yah! because my answer and the answer in the book did not match.
i was confused with the theory.
i have a knowledge of relavant costing but this question i dont get it sir

my answer:
500*8 =4000
300*3+200*7=2700

all this is okay
next they say material Y is regular use by the company so shud we take the replacement cost fully for 500 for this or should we use the inventories in hand and den take 100 * replacement cost.

i am confuse for the material Z and material V.
Please if you can be kind enough to explain this

[Author]

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