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Premier dec 2010 q1

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Premier dec 2010 q1

  • This topic has 4 replies, 3 voices, and was last updated 11 years ago by MikeLittle.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • March 5, 2014 at 10:58 pm #161588
    aishaasad
    Member
    • Topics: 159
    • Replies: 185
    • ☆☆☆

    Hello Sir,
    I don’t understand that how figure of 1300 is calculated for investment in equity instruments in Noncurrent asset and why the investment figure is in asset side?
    Moreover why do we add 300 in other components of equity in equity and liability?
    Thank you

    March 6, 2014 at 6:53 am #161595
    amy
    Participant
    • Topics: 1
    • Replies: 6
    • ☆

    Statement of financial position( extracts)

    Non current assets

    Available-for-sale investments (1,800 – 800 consideration + 300 gain) 1300

    Equity

    Other equity reserve (500 + 300) 800

    ============================================================

    The investments are always shown on the asset (i.e Non current asset) side.

    Intra-group investments [i.e One entity(parent) investing in the other entity(subsidiary) ] are not shown in the SFP.

    Available-for-sale investments= 1800 (figure from the given SFP- Premier) – 800 ( consideration for acquisition by Premier) + 300 ( increase in the value = gain)

    300 is also added to the other equity reserves in Equity and Liabilities section because 300 is increase in value i.e a gain and the question its self states that “The other equity reserve relates to these investments and is based on their value as at 30 September 2009” .
    therefore any gain/ loss relating to this investment will be added /subtracted for the other equity reserves.

    March 6, 2014 at 2:34 pm #161632
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Hmmm! Thank you Amy. I don’t remember you being appointed as a tutor to this site and yet Aishaasad’s question is clearly posted on the “ask the tutor” page

    Maybe your assistance could be restricted to the general forum pages

    March 6, 2014 at 4:19 pm #161642
    amy
    Participant
    • Topics: 1
    • Replies: 6
    • ☆

    I am extremely sorry Sir. 🙁 I didnt see its ‘ask the tutor’ page and just replied. I will never repeat my mistake ever again…….. I am very sorry again. 🙁

    March 6, 2014 at 5:51 pm #161659
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Ok, ok! It’s not a big deal, and I really do appreciate your interest.

    Let’s move on!

  • Author
    Posts
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