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Minco june 14

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Minco june 14

Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • March 12, 2018 at 5:42 pm #442377
    zkaay
    Participant
    • Topics: 212
    • Replies: 98
    • ☆☆☆

    Hi tutor,

    For part d in question minco

    I didnt understand why the gain restriced to 380,000

    Whats the rule here?

    March 18, 2018 at 3:42 pm #442954
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7217
    • ☆☆☆☆☆

    Hi,

    We can only reverse out any previous impairment losses and cannot revalue it above the value it would have been held at.

    Thanks

    April 23, 2018 at 4:29 pm #448566
    zkaay
    Participant
    • Topics: 212
    • Replies: 98
    • ☆☆☆

    Am sorry i didnt understand your answer if u can explain it in other words i will be grateful.

    Thanks

    April 28, 2018 at 8:48 pm #449226
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7217
    • ☆☆☆☆☆

    Hi,

    If we have impaired the asset previously by 50,000 then we can only revalue it back up by the same amount, we cannot go any higher than this.

    Thanks

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