• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

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

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exam Results

Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for June 2025 exams.
Get your discount code >>

P2 questions

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › P2 questions

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • November 1, 2017 at 1:12 pm #414039
    jihun lee
    Member
    • Topics: 117
    • Replies: 51
    • ☆☆

    1. (related party) What is it mean by two entities just became they have a director or other member of key management personnel in common ?

    Does it mean that 2 entities have same director or common key management personnel are related parties ???

    2. do we need to know the disclosure requirements and the number of IAS or IFRS ??? Cuz like when we answer the question, do we have to state specific number of ifrs or ias ??

    3. inquiry regarding the question, stated below

    Mug has owned 80% of the ordinary shares of Glass for many years. During the current year, Mug sold inventory to Glass for $250,000 making a gross profit margin of 40%. One quarter of this inventory remains unsold by Glass at the reporting date. The tax rate is 20%.

    my opinion : shouldnt the profit on the sale should be (71429=250,000/140×40) ??? cuz the answer sheet says that it’s (100,000=250,000×40%).

    should we multiply 40 dividing by 140 cuz 250,000 already included gross profit margin so we should base it with 140% and multiply 40 ????

    thank you !!

    November 5, 2017 at 9:04 pm #414468
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    Hi,

    1. It means that if one director is a director in two different companies then the companies under their directorship are not necessarily related and you’d need to look at the influence the director has over each of the companies to see if they are related.

    2. No, you don’t need to know the numbers and the disclosure is not examined unless it is related parties or operating segments.

    3. You should really be able to work out the difference between a mark-up and margin at this level. If it is a 40% gross profit margin then the profit is 40% of the sales made, given we’ve made $250,000 sales then the profit will be 40% of that (i.e. 40% x 250,000).

    Thanks

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

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • John Moffat on Linear Programming – Spare capacity and Shadow prices – ACCA Performance Management (PM)
  • John Moffat on The Statement of Financial Position and Income Statement (part d)
  • Salexy on Linear Programming – Spare capacity and Shadow prices – ACCA Performance Management (PM)
  • omerbasheer on The Statement of Financial Position and Income Statement (part d)
  • Kim Smith on AA Chapter 9 Questions

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in