• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

BPP Revision Kit – Q -65 B

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › BPP Revision Kit – Q -65 B

  • This topic has 3 replies, 2 voices, and was last updated 8 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • May 31, 2017 at 6:43 pm #389313
    satheesh90
    Member
    • Topics: 36
    • Replies: 25
    • ☆☆

    Question :-

    One of the hotels owned by Norman is a hotel complex which includes a theme park, a casino and a golf course, as well as a hotel. The theme park, casino, and hotel were sold in the year ended 31 May 20X8 to Conquest, a public limited company, for $200 million but the sale agreement stated that Norman would continue to operate and manage the three businesses for their remaining useful life of fifteen years. The residual interest in the business reverts back to Norman after the fifteen year period. Norman would receive 75% of the net profit of the businesses as operator fees and Conquest would receive the remaining 25%. Norman has guaranteed to Conquest that the net minimum profit paid to Conquest would not be less than $15 million.

    This is a questtion appears in the BPP ,

    The main focus is IFRS -15 In the solution given , but Can we approach this question from the point of View of IAS 17 – Sale and lease back .?

    Kindly coment

    June 1, 2017 at 9:19 am #389411
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Hi,

    I think that given there is no specific mention of a lease within the agreement then we are looking at IFRS15 and not IAS17.

    Thanks

    June 1, 2017 at 2:45 pm #389471
    satheesh90
    Member
    • Topics: 36
    • Replies: 25
    • ☆☆

    thanks a lot sir

    June 4, 2017 at 8:06 pm #390327
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    You’re welcome.

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • poojam on Objective of financial reporting – ACCA Financial Reporting (FR)
  • mm3677 on IAS 16 Accounting for a revaluation – CIMA F1 Financial Reporting
  • Anastesia123 on MA Chapter 1 Questions Accounting for Management
  • John Moffat on MA Chapter 26 Questions Variance Analysis
  • acowtant on Changes in group structure – examples – ACCA SBR lectures

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in