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Mini Exercises – Intra Group

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Mini Exercises – Intra Group

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • February 6, 2016 at 1:27 pm #299486
    Marianne
    Member
    • Topics: 14
    • Replies: 17
    • ☆

    Hi Mike,
    With regard to Intra-Group pup mini questions. Can you confirm the answer for no. 3
    H sold $80000 to A at a gross profit of 30%
    A had sold none of these goods by the end of the year.
    The answer says it shows in A books, I thought it would be H because H recognised the profit?

    February 6, 2016 at 2:06 pm #299492
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    Have you read the course notes? Have you watched the videos?

    Look at page 64 in the course notes, third bullet point from the end.

    Then come back to me if you need to 🙂

    February 6, 2016 at 2:18 pm #299495
    Marianne
    Member
    • Topics: 14
    • Replies: 17
    • ☆

    Hi Mike, I have read and watched everything up to chapter 9 and was practicing the mini questions then.
    Sorry I hadn’t got to those notes.

    Thanks again for your time.

    February 6, 2016 at 2:45 pm #299497
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22699
    • ☆☆☆☆☆

    You’re welcome – the resultant figures come about because in the notes it says “the easiest way …”

    An exam answer will sometimes take the group’s percentage from the consolidated retained earnings as a separate exercise.

    “My way” automatically accounts for the elimination of the group’s share of that pup but results in figures slightly different than some printed answers

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