Part disposal

Hello Chris,

Regarding BPP workbook, Angel co.

It mentions in the question Angel sells 1/2 of its holding in Shane Co for $120,000 on 30/6/x8 . And given in the SOFP of 31/12/x8 also shows an “investment in Shane” of same amount.

Later in Consol SOFP, that 120 consideration was added to Current Asset . (as cash consideration.)

My question is do we always assume that consideration received is always on cash basis? and so in must be always be added to CA of group consol..and cash transferred can either be many other ways like share exchange as per SBR exam context question?

We are likely to be tested heavily more on the extracts right on sbr instead of preparing whole set of group accounts? and treatments as per IAS/IFRS.

So can i confirm that topics i should be mastering is on:
– all standards, IAS/IFRS = recognition derecognition/measurement/P&D
Particular emphasis on IAS 16, IFRS 9, IAS 7, IAS 38, IFRS 15 &16, IAS 24
– Ethics = Code of ethics and 5 threats
– Current issue:
=APM
=GRI/IR
=DI (disclosure initiative) /ED

What else am i missing?

Regards,
Arina.

p/s: after going through everything i think i like IFRS 9 most xD. Not sure if i derailed my life or uni derailed me or the fact that my timeline is weird. 2019 is the opportune time for me to finish ACCA. Back when i was uni, i was like completely dazed confused and i thought ACCA dateline was practically non existent. So i lead a boundless existence until one day, god silently whispered, arina what do ye want in life exactly, eggshell cracked and pit bottom situation, cut all of my other side interests (ie culinary cooking/ interior design/ fashion design/ beading/ painting/ yoga/ horticulture/ filming & photography/ travelling/ food hunting/ rock climbing/ exercising) to lock myself up in a room and focus on core business. I am funny. I dont know how to summarise my quixotic nature in one perfectly window dressed resume. Other normal people, go to uni get 4.0 CGPA > graduate within designated timelime > get a job that they studied in uni > married high school sweetheart or whom met in uni > get kids > thrive or fail in the workplace. Its okay its not my job in the future to make people understand my faculty of mind, the onus is on me to understand myself and where i’m going now. But to feel that if others had gone the same route will make me slightly 🙂 Alright then back to SBR.