Free ACCA & CIMA online courses from OpenTuition

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

BPP Black Friday sale!

40% discount on all BPP books specially for OpenTuition students!
Get it here >>

June 2014 Minco (c)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › June 2014 Minco (c)

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 8, 2018 at 12:50 pm #450580
    sss111
    Member
    • Topics: 37
    • Replies: 5
    • ☆

    Why can’t we treat the possible payments as financial liabilities ?

    Minco do have contractual obligation to deliver cash right ?

    May 10, 2018 at 8:51 pm #451133
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7065
    • ☆☆☆☆☆

    Hi,

    We are accounting for uncertainty with regards to estimating the amount that the repairs would cost, so we would account for the item under IAS 37.

    Thanks

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