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I did this kind of calculation. But I think it was referring to IFRS 13 highest and best use. So FV of 4.9 was to be used rather than deducting the estimated costs converting it to residential building. I think this was a trick question !
Hi all it was a tough one tbh, I was expecting nothing less.
Wasn’t as straight forward either! ED540 relates estimation esp when using fair value Measurement re: IFRS 13. It just really requires auditors to apply more than ever professional scepticism!
Meaning more work required on it , documenting reasoning of the estimates used by management , more communication with TCWG!
What does everyone think of q3 (iii) property development ? I was confused on that one!!The EOQ questions none of my answers matched the ones but the closest I got was saving of 7,500 so I choose benefit $8000
I am terrified now to be honest 🙁Suggesting the parent company to transfer the gains to Clazt and they can deduct from the capital loss they made
I think you dont need a form P11D. the company deducts tax thru PAYE.
I did not mention the word PAYE :/
can i please reply while you wait from the tutors reply:
The car parking fines by the proprietor is never an allowable expenses for the purposes of computing TATP. However, car parking fines incurred by an employee whilst being on work is an allowable deduction.
Hope this sounds ok.
passed with 60% -very pleased with myself. I can’t believe I did it. Will use OT for my next upcoming exams.
I could not get my head round the volume variance. But i just did 25% of 96000. I know that it is wrong 🙁
Hi no it was MC – variable so I did not add fixed costs. I used fixed costs(sub) to calculate the profit at the end.
How about yourself? I think my MC was around 208!