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I need more information! I don’t have Emerald to hand and it seems that the ACCA has taken the December 2007 exam off their website
Sir its in bpp revision kit Q19
https://www.eaib.cn/uploads/soft/100624/f7int_2007_dec_q.pdf
https://www.eaib.cn/uploads/soft/100624/f7int_2007_dec_a.pdf
Hi
The answer on page 19 explains it! It’s what the carrying amount for (2004) $300 plus the carrying amount for (2005) $165 should have been if Emerald had been applying the capitalisation of qualifying development expenditure
It had previously been expensed. Now, with the change in policy, there is required a prior year adjustment
OK?
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