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Aron

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Aron

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by Stephen Widberg.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • November 13, 2019 at 4:31 am #552364
    christinathaiba
    Member
    • Topics: 12
    • Replies: 13
    • ☆

    Aron held 3% holding of shares in Smart. The investment was designated upon recognition as FvTOCI and as at 31 may 2017 was FV at $5m. The cumulative gain recognized in equity relating to this investment was $400000. On the same day the whole of the share capital of Smart was acquired by Given and as a result, Aron received shares in Given with FV of $5.5m in exchange for its holding in Smart.
    Accounting treatment???
    $400000 should be reclassified to PL or not????

    November 13, 2019 at 4:44 pm #552487
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3431
    • ☆☆☆☆☆

    No reclassification as it is an equity instrument
    When the examiner wrote Aron, the rule was different.

    November 14, 2019 at 2:45 am #552517
    christinathaiba
    Member
    • Topics: 12
    • Replies: 13
    • ☆

    Thank you

    November 14, 2019 at 7:56 am #552525
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3431
    • ☆☆☆☆☆

    My pleasure.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘Aron’ is closed to new replies.

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