- This topic has 0 replies, 1 voice, and was last updated 1 year ago by .
Viewing 1 post (of 1 total)
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.
Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>
Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Cash flow – tax paid calculation when a tax refund is due
Hi John,
I hope you are well.
Could you help with my thinking with this one…
In MTQ 9 in Kaplan you have to calculate tax paid for the cash flow. The question states that there is a tax refund due as a result of making a loss. The details are:
Income tax liability b/f in sofp is 5000
Income tax recoverable in P&L is 500
Income tax recoverable (asset) in sofp is 500
Tax paid is 5000
I can see what they have done in the answer but can’t quite explain it in words if I was asked to describe what’s happening to someone else.
Could you help?
Thanks