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IFRS 5

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 5

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  • January 25, 2019 at 10:00 am #503247
    Avatarbadare
    Participant
    • Topics: 4
    • Replies: 52
    • ☆☆

    Hello Sir

    I have a question regarding NCA -HFS in the notes; page 49.
    In the example , the reserve calculated is 1400 rather than 1200 (15100-13900)
    As the calculation is done for the period ending 31 Dec 2015 , gain on sale of NCA -HFS can not be factored in as the sale occured on 31 Jan 2016.

    Please comment

    January 27, 2019 at 8:25 am #503382
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7232
    • ☆☆☆☆☆

    Hi,

    I think it is a small error in the answer and the revaluation reserves should be 1,200. Yes, the gain on sale cannot be recognised until the sale takes place.

    Thanks

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