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Chapter 5 Example 1

CChloe10y ago
Hi I do not understand how you arrived at the figures for TNCA. Please can you explain the Financial Position and the P&L? I'm afraid that this is not obvious for me. Thanks
MikeLittleMikeLittleTutor10y ago#1
"During 2009 it was discovered that certain non-current assets had been included in the records at 31 December 2008 at $500,000 in excess of their recoverable amount and that this situation was unlikely to change" So we need to reduce last year's TNCA by $500,000 and we need to reduce this year's TNCA by $500,000 What is there not to understand?
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