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intra group trading

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › intra group trading

  • This topic has 2 replies, 2 voices, and was last updated 12 years ago by shahbaz Gohar.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • May 1, 2013 at 8:11 am #124111
    shahbaz Gohar
    Member
    • Topics: 6
    • Replies: 7
    • ☆

    hello,
    plz tell me why we deduct purp from cost of sales …….as we alredy deduct selling price fron cost of sales and revenue ????? plz tell me with exampleeee

    May 1, 2013 at 2:18 pm #124153
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    WE DON’T!!!!!

    We add it to cost of sales

    The deduction from revenue and from cost of sales of the selling price of the intra-group traded goods is to adjust for the fact that “you cannot sell goods to yourself”

    The addition of the pup to cost of sales is because the closing inventory of the company holding the goods is over-valued so far as the group is concerned. When we reduce that inventory by the amount it is over-valued ie the pup, the effect is to increase cost of sales.

    May 2, 2013 at 2:24 pm #124338
    shahbaz Gohar
    Member
    • Topics: 6
    • Replies: 7
    • ☆

    thnxxxxxxxx MIKE SIR …. 🙂

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