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BPP revision Q84c Bold Factor

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › BPP revision Q84c Bold Factor

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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  • December 2, 2017 at 11:44 am #419645
    richardscully
    Member
    • Topics: 197
    • Replies: 145
    • ☆☆☆

    Dear Sir

    Oh dear

    i do a different calculation to the answer but come up with figures different by $3.
    I calculate their current cost and if there is an admin saving `i add it to current cost, i then do two calculations and to get the difference deduct. If the factor is offering 80% advance of new receivable at 2% more than bank, am i to assume the other 20% is still being financed by overdraft
    ACCA trying to trip us up i think

    December 2, 2017 at 3:38 pm #419698
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    If there is an admin saving, then I do not know why you want to add it to the current cost – it will reduce the current cost.

    If the factor is giving 80% in advance, then yes – always the other 20% will be still financed by overdraft.

    Have you watched my free lectures on the management of receivables?

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