Forum Replies Created
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- August 28, 2024 at 8:25 am #710445
🙂
August 25, 2024 at 9:02 am #710313No.
Ignore the UK chapter (and the Kaplan examples) if you have selected INT option.
August 22, 2024 at 4:43 pm #710190Consider whether business model has changed. If it hasn’t then you are losing comparability.
You are looking for the smallest units that generate cash flows independent of the other units.
So perhaps the old policy was not the most appropriate.
If you consider this to be the case and it constitutes a material error in prior years, consider need for prior period adjustment.
August 16, 2024 at 10:37 am #709881Principal v agent – the agent never takes any responsibility for or control of the goods or services – so commission is appropriate
Consignment – also known as sale or return – in practice some responsibility will always be taken – used in motor trade – if I am a BMW dealer, I might have the right to return SOME of the goods but never ALL of the goods – otherwise the manufacturer would not deal with me.
If you decide that the business has control – normal purchase and sale journals apply. Remember though NOT to write journals unless you are asked to.
Language (e.g. consignment is not important, all that matters is that we determine who has control from any given scenario
August 16, 2024 at 10:29 am #709880No. The 400 was the OCE at acquisition. We need OCE arising after acquisition.
August 16, 2024 at 9:01 am #7098711. IAS 36 requires that we use a discount rate which reflects RISK IN ASSETS. So go for 5% if that’s what is given.
2. Grant Thornton have some helpful comments about your second question – please refer to:You must be happy with point 1 but point 2 is quite obscure – so don’t get terribly excited about it.
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August 16, 2024 at 8:44 am #709870🙂
August 16, 2024 at 8:44 am #709869🙂
August 15, 2024 at 9:12 am #7097231. Yes
2.Up to you but you get a lovely discount on BPP.
3. 2 months.
4. Learn our Sutainability Chapter and watch my lecture.
5. 12 hours a week
🙂August 15, 2024 at 9:09 am #709721OK.
If you have entered the UK exam, most of the questions are based on International Standards BUT in one of the questions you will be asked how things are different in the UK.
So learn the chapter about UK differences.
All will be well. Be calm.
🙂
August 9, 2024 at 4:18 pm #709356I promise I will get back to you in about a week. I’m on holiday so haven’t got my files.
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August 8, 2024 at 9:40 am #709289Please can you confirm which ACCA question this. I am confused because I would only expect minimal calculations. You would probably be given carrying amount and value in use.
Thank you.
August 3, 2024 at 4:41 pm #709140Sub leases are included in our course notes and our leasing lectures.
They are new in the syllabus for the September 2024 sitting.
August 3, 2024 at 5:13 am #709111Yes.
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July 31, 2024 at 7:54 am #709029Mehran is nearly 10 years old and relates to a totally different syllabus. I strongly recommend that you focus on questions from the last 5 years.
The Kaplan answer is taken from an old examiner’s answer.
I did a bit of research but even the KPMG handbook can’t help (from what I can see)
Point being tested is highest and best use. As long as you conclude residential, that’s all that matters.
Best I can do.
🙂
July 28, 2024 at 5:22 pm #708929When we do an impairment review we need to compare like with like.
Net assets and recoverable amount are both of 100% of the business, but (proportionate) goodwill is only measured on the percentage of the business that the parent bought.
So, to match like with like, we gross the goodwill up.
If I was King I would never have invented the rule. I, like some others, believe that goodwill is just a balancing figure that needs to go somewhere.
🙂 But I’m not King….so I make the adjustment.
July 20, 2024 at 11:04 am #708697Stick to what I’ve done and you’ll be fine.
BUT
Remember that you have to write points which are relevant to the question.
🙂
July 17, 2024 at 2:39 pm #708626May I suggest that you contact the ACCA.
This forum is for SBR technical queries.
July 15, 2024 at 3:33 pm #708503Assuming IFRS(IAS 34) and assuming this answer is for exam purposes only :
Dr Dividend line in SOCIE
Cr Current liabilityI’d be very surprised to see it tested 🙂
July 15, 2024 at 3:27 pm #708502DR CASH
CR ACCRUAL & DEFERRED INCOMEJuly 12, 2024 at 12:27 pm #708266NIC should be calculated on opening balances
The question writer is saying that, as pensions were paid on the first day of the year, we should reduce the opening asset and liability before calculating the interest. Also we should increase opening assets by contribution.
Never seen this in an exam question. I think these are unrealistic assumptions – it’s not how pensions are paid or contributions are made.So I wouldn’t worry about it. Move on 🙂
July 8, 2024 at 1:14 pm #708039You would need to learn UK rules AND Int rules – try and change!
If you can’t change, then learn the extra chapter in our course notes.
🙂
July 8, 2024 at 1:11 pm #708038Directors propose before year end
No double entry
Shareholders approve after year end at AGM
Dr SOCIE CR Cash
(Assuming this is an equity dividend).
Note – this is FA not SBR
July 8, 2024 at 1:04 pm #708037🙂
July 7, 2024 at 8:36 am #707893If you have broken the law – you must recognise a provision
If you have not broken the law – you must not recognise a provision
It depends whether they have breached the targets in the past – it should be a YES or a NO – there’s no probability about it.
Either I DID punch someone on the nose or I DID NOT (hypothetically)
🙂
(In writing your posts there is no need to state question name as I have no access to Kaplan materials)
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