- This topic has 2 replies, 2 voices, and was last updated 4 years ago by
P2-D2.
P2-D2.Viewing 3 posts - 1 through 3 (of 3 total)
-
Posts
-
zkaay
- Topics: 212
- Replies: 98
- ☆☆☆
I didnt understand part b ..
Non recurring items
Could u make a general points or summary for answering ? Plz.
I did read the examiner answer but still not clear for me
zkaay
- Topics: 212
- Replies: 98
- ☆☆☆
In part c) for same question
How did we got the figure 53.3 million profit . That chemclean have to recognize?
P2-D2
- Topics: 4
- Replies: 6317
- ☆☆☆☆☆
Hi,
In the question they have included a ‘non-recurring’ item, so something that will not arise again but this is not allowed per IAS 1.
The 53.3 million comes from 16 / 0.3 (tax rate), the reason being that if we made a profit of 53.3 million and paid tax at 30% then the tax would be 16 million that we can then use the deferred tax asset against.
Thanks
zkaay
P2-D2Viewing 3 posts - 1 through 3 (of 3 total)
- You must be logged in to reply to this topic.