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Define a Business(IFRS Board’s proposed amendment )

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Define a Business(IFRS Board’s proposed amendment )

  • This topic has 5 replies, 2 voices, and was last updated 4 years ago by Stephen Widberg.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • December 2, 2020 at 4:39 am #597316
    maylynn
    Participant
    • Topics: 32
    • Replies: 34
    • ☆☆

    please sir,
    sep 2018 no1 (b)
    Clearly half of the que: but conflict at next half of the que.
    Whether the IFRs board’s proposed amendment define of a business would revise your conclusion?
    This part feeling confused to me whether it is business or asset acquired.
    Please little explain for me sir
    Thanks.

    December 2, 2020 at 1:30 pm #597387
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    As there is really a single asset and no staff – more likely to be an asset purchase than a business purchase.

    December 4, 2020 at 3:05 am #597575
    maylynn
    Participant
    • Topics: 32
    • Replies: 34
    • ☆☆

    Yeah thanks sir
    First part of the que is business purchase and the second part of the que is asset purchase when ifrs amend?
    Hoping…

    December 4, 2020 at 5:44 pm #597658
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    I think they are asking you to assess whether you think the transaction is a business or an asset purchase. Obviously you get credit for your argument – these questions are not always ‘right’ or ‘wrong’.

    From your last post I am confused – it’s just one transaction. Is that not how you are reading it?

    December 7, 2020 at 10:30 am #598011
    maylynn
    Participant
    • Topics: 32
    • Replies: 34
    • ☆☆

    yeah thanks sir

    December 8, 2020 at 11:15 am #598376
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    My pleasure

  • Author
    Posts
Viewing 6 posts - 1 through 6 (of 6 total)
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