• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

New! Lectures for ACCA AAA September 2022 Exams are now available >>

New! BPP Books for ACCA September 2022 Exams are now available, get your discount code >>

Complimentary items.

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Complimentary items.

  • This topic has 1 reply, 2 voices, and was last updated 11 months ago by mrjonbain.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 27, 2021 at 12:41 pm #629566
    triciajames
    • Topics: 1
    • Replies: 0
    • ☆

    Hi,

    I am having some issues as to how to account for fixed assets (cellphones) received from a supplier as complimentary. I am not quite sure how to account for this in my depreciation schedule as no cash was paid for these items.

    Can anyone assist me in the correct treatment of these items?

    Thanks.

    July 27, 2021 at 5:54 pm #629600
    mrjonbain
    Moderator
    • Topics: 1
    • Replies: 1220
    • ☆☆☆☆☆

    Not hundred per cent sure about this one. Maybe recognise assets at price that would have been paid on arm’s length basis. Possibly market price less any likely discount.Debit asset this amount. Credit profit and loss if no conditions attached. Depreciate as you would similar class of bought assets. Would appreciate other people’s input. Hope this helps.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate

If you have benefited from OpenTuition please donate.

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • nojwwnolife on The nature and structure of organisations – ACCA Paper BT
  • John Moffat on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • ben920331 on Discounted Cash Flow Further Aspects, Lease versus Buy – ACCA Financial Management (FM)
  • John Moffat on The Statement of Financial Position and Income Statement (part d)
  • Viktoriia.Yanchuk on The Statement of Financial Position and Income Statement (part d)

Copyright © 2022 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy