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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Chapter 5 Example 1
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
“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?