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BPP-Q311 Moby Co (Dec13 amended)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › BPP-Q311 Moby Co (Dec13 amended)

  • This topic has 1 reply, 2 voices, and was last updated 6 months ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • December 3, 2021 at 6:55 pm #642427
    brillianti1013
    • Topics: 11
    • Replies: 3
    • ☆

    HI Sir,
    BPP- Q13 Moby Co (Dec13 amended):
    In the working for Tax charge,
    Why does it need to deduct “Defered Tax on Revaluation Debibted to Revaluation Surplus (1100)?
    I think we only need to count the movement of Deferred Tax for the Tax charge?
    (the 1100 Deffered Tax have been included in the Movement of Deffered Tax calculation, 24000*25%+4400*25%- 8000= -900) ?

    Thanks.

    December 11, 2021 at 11:31 am #643886
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6115
    • ☆☆☆☆☆

    Hi,

    If there is a revaluation in the year then there will be a deferred tax impact as we will be paying a higher tax in the future when the asset is sold. As the gain is taken through OCI then the associated tax on the gain is also taken through OCI and not through profit or loss.

    Thanks

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