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Active 9 years ago
  • Topics: 6
  • Replies: 4
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Viewing 4 posts - 1 through 4 (of 4 total)
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  • December 1, 2015 at 5:22 pm #286793
    446ebe2a339efbe6da76a939ac650db324ac3b15d13f30256685e53a49ae72a9 80scarborough
    Member
    • Topics: 6
    • Replies: 4
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    I have been set the exact same question by Kaplan as their Dec 15 mock,

    I understand that it does not meet the definition of a financial asset, what i am struggling with is should it just be classed as an investment on the SOFP and should be revalued at every year end to its fair value?

    Any help would be great…

    Thanks

    December 1, 2015 at 2:12 pm #286728
    446ebe2a339efbe6da76a939ac650db324ac3b15d13f30256685e53a49ae72a9 80scarborough
    Member
    • Topics: 6
    • Replies: 4
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    I think the fact it mentions fair value and that the oil is actively traded in markets….

    I just assumed as fair value was mentioned that IFRS 13 applies.

    I was leaning towards IAS 2 as the standard but thought I’d double check.

    Thanks

    October 21, 2015 at 4:15 pm #278226
    446ebe2a339efbe6da76a939ac650db324ac3b15d13f30256685e53a49ae72a9 80scarborough
    Member
    • Topics: 6
    • Replies: 4
    • ☆

    Hi,

    I have this exact same question in my Mock exam and i am struggling with the accounting for associates part, i have included all the points made but i am struggling to put much else.

    What calculations would you suggest i need to push up my marks?

    October 20, 2015 at 4:13 pm #277869
    446ebe2a339efbe6da76a939ac650db324ac3b15d13f30256685e53a49ae72a9 80scarborough
    Member
    • Topics: 6
    • Replies: 4
    • ☆

    this was a mock question set from Kaplan.The question makes reference to 8 marks in total for the answer and i think that it whats throwing me? I understand the contributions made are what are to be shown in the P&L but i assumed i’m missing something key given the marks at stake?

    Thanks

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Viewing 4 posts - 1 through 4 (of 4 total)

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