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Yes sir, requirement no.4.
Oh dear, I think I’ve missed out something, the initial measurement of all financial assets should be at FV, so the model answer was correct.
Sorry sir, my mistake.
Dear sir, I’d like to ask about requirement no.4, the giving of loan to charity organisation as financial assets.
As far as I see it’s not mentioned in the question that they are using the FVTPL / FVTOCI to record the loan, and Trailer will likely be holding it til the end plus there will only be principal & interest cashflow.
Shouldn’t it be accounted for using the amortised cost instead of the FV method used in the model answer?Thank you sir.
Firstly I’d like to agree to anna1023 that the $18m should be used as value in use.
However the question seems to be incomplete. As mentioned in your question, there’s an active market for selling the business, thus the question should have provided the selling price and the selling costs, because to determine impairment, you need to compare THE HIGHER OF net selling price or value in use (that is the $18m) against the NBV.
Yes it’s possible, I passed F9 using Open Tuition lectures only, in 1 attempt.
I do have a F9 textbook though, but don’t really remember reading through it :p
I studied maximun 2-3 hours a day for the last 2 months before exam, but I won’t say it can serve as your reference, because I believe it won’t work even if you study for 10 hours a day but not in a state of concentrating.
Just forget everything else when you study, then I believe you’re not far from passing.
