[shahimk]

For question no 4 i wrote she deserved the bonus since she has considered the long term objective of the company and has purchased the machinery which has in return has improved the overall efficiency of the division by jeopardizing her bonus pay. Where as the other division has postponed their decision to purchase the machinery since they will not achieve their short term objective of maximizing divisional performance.

[shahimk]

@glasgowceltic67 said:
Cheers Neil.

For goodwill as well I reduced to 18 and worked out impairment loss of 1.8. Thy what everyone else done?

I did the same by reducing the Goodwill to 18 Mn and charging 1.8 Mn to the P & L. There was a similar past paper question where the net assets as at acquisition date was adjusted in retrospect.

[shahimk]

@kakahh said:
For the revenue part – I thk discount should be included as per IFRS 15 step 3.

So the revenue should be 6000×960 + 7000×1000

They didn’t purchase over 15000, no further discount should be recognised

IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 and applies to an entity’s first annual IFRS financial statements for a period beginning on or after 1 January 2018.

[shahimk]

IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 and applies to an entity’s first annual IFRS financial statements for a period beginning on or after 1 January 2018.

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