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Chemclean dec/15 q

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Chemclean dec/15 q

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by P2-D2.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • February 27, 2018 at 8:39 pm #439275
    zkaay
    Participant
    • 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

    February 27, 2018 at 9:22 pm #439278
    zkaay
    Participant
    • 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?

    March 4, 2018 at 8:18 pm #440191
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    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

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