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BPP Havanna – Sale and Leaseback

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › BPP Havanna – Sale and Leaseback

  • This topic has 1 reply, 2 voices, and was last updated 5 months ago by Stephen Widberg.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • January 15, 2022 at 2:31 am #646077
    nurjiwa
    • Topics: 4
    • Replies: 5
    • ☆

    1. Why use carrying amount of $4.2m to derecognise the asset instead of FV of $5m ?
    2. “A gain or loss should be recognised in relation to the right transferred ”. Is it the same if I write “recognise a gain or loss in Statement of Profit or Loss (SOPL) up to the amount transfer to the third party”?
    3. Why the answer scheme wrote that we do not recognise the $0.8 million gain in SOPL calculated by CEO ?

    January 15, 2022 at 1:07 pm #646112
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2524
    • ☆☆☆☆☆

    You need to give enough detail to allow other users to understand your post in future – not all users are using your BPP kit.

    I think you need to review our notes and lecture on sale and leaseback

    Point 1 – you have to derecognise anything at its existing CA

    Point 2 – what you are saying is fine

    Point 3 -Because we are instead recognising the gain you are discussing in point 2

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