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Business transfer

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Business transfer

  • This topic has 1 reply, 2 voices, and was last updated 2 months ago by Stephen Widberg.
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    Posts
  • May 21, 2022 at 9:54 am #656121
    nbhutia
    • Topics: 28
    • Replies: 20
    • ☆

    Hi Sir,

    I was wondering if a business was transferred to new owners under a TUPE would this need to be disclosed anywhere in the financial statements? Or would it be classified as discontinued operation?

    Sorry it’s a bit of silly question for a private limited company can the buyer and the seller be the same person of both companies?

    Thank you

    May 22, 2022 at 1:57 pm #656184
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2548
    • ☆☆☆☆☆

    1. International standards – I would disclose, and discontinuance if discontinued in the year. Bear in mind that, unless the company is listed, they would probably be using UK standards which are different – don’t worry the examiner won’t go to that depth.

    2. Buyer / seller question. Yes, but reorganisations of that nature are not in the syllabus.

    If these questions relate to a real-life situation you need to take professional advice.

    🙂

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