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I thought only $18,000 balance is to be eliminated as this was given in question, whereas they have already stated that $22,000 current account balance was outstanding between parent and subsidiary.
Didn’t read the question properly, sorry!
Thanks for the reply.Hey there, I’m sitting for FR this Dec’22.
Please contact through whatsapp ( +919790902614 )Isn’t the recoverable amount expenditure relating to the know-how of the production process? (as stated in question)
And is it not recorded in the financial statements since it is recoverable expenditure?The above calculation is correct except for the carrying amount as at 30.06.20X8 is 5,880,000 and not 8,880,000.
Thank you for noticing this mistake in the lecture.
The small gift exemption of £250 per donee per tax year applies to the gifts made to two different nieces (i.e neice 1 & 2)
The 3rd niece is gifted £400 where the Small gifts exemption does not apply and Annual exemption therefore applies.
Since the gift to 3rd niece was made before the gift of shares, annual exemption of £3000 (current tax year’s) is applied and remaining £2600 is left for further use.
When she gifts the shares to her daughter,
Total available annual exemption is therefore, £5600 (£2600+£3000)Note: The £3000 annual exemption is of previous tax year’s.
To use the previous tax year’s annual exemption, current year’s annual exemption is to be fully utilised first..
I hope you understood.
Today, I would like to thank opentuition and especially Sir John Moffat for the amazing lectures on FM paper.
I would like to inform you that I have passed my FM paper today.I cleared 5 papers solely with the help of opentuition.
Thanks to the OT team for providing generous support to the ACCA students who are in need of lectures,notes and other revisions to pass their exams.I’ll never forget your support and kindness.
Hoping to continue with opentuition as my journey towards ACCA continues.Yes, I’ve just now started studying Tax, will focus on them as you’ve told.
Thank you
Hey I got the same Sec C @Shivvy…
Really got confused with that sec B MV of loan notes 7%, paid halfyearly.My typing was reallly slow and this was my first applied skills paper. I got positive NPV in Sec C couldnt remember the amount though.
As I was calculating NPV in ($000’s), I forgot to type the answer in full amount, i.e. to include the last three zeroes in my final answer, will that be a problem?I pray to god, that everyone who did alot of hardwork on this FM paper and also other ACCA papers will pass the exam!
Let’s hope for the best…
As you told above, with deep discounted bonds, investors required rate of return will generally be lower or expect no interest with zero coupon bonds.
Then, why is that statement false in the kaplan kit with regards to deep discounted bonds?
The explanation says, the price investors buy the bonds at, reflects the risk and,hence, the required return. Thus, coupon rates are not important.Isn’t that statement true concerning deep discounted bonds?