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PURP

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › PURP

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by P2-D2.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 16, 2019 at 3:39 pm #505363
    iyamu
    Participant
    • Topics: 286
    • Replies: 171
    • ☆☆☆

    Please , Chris I won’t bug you with much of the qurstion from Kaplan kit . But here is purp calculation that I don’t known how kaplan got the answer to be $2m .

    From the note in the questions :

    Offspring ( subsidiary ) sold goods for $15m in the post acq period. $5m of these goods are included in the inventory of the Parentis(parent) at 31 March 2007( end period). The profit made by Offspring on these sales was $6.

    Please , how do they arrive at $2 as purp because it is said that the profit made by the subsidiary (Offspring) was $6m.

    Thanks in advance .

    February 18, 2019 at 4:27 pm #505642
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Hi,

    The PURP is calculated based upon the goods held in inventory at the reporting date. If $5m out of $15m are still held then 5/15 of the $6m profit is the PURP, i.e. $2m.

    Thanks

    February 18, 2019 at 6:48 pm #505656
    iyamu
    Participant
    • Topics: 286
    • Replies: 171
    • ☆☆☆

    I am delighted thank you very much and let me use this chance to say congratulations for winning the award as the best ACCA & CIMA lecturer.

    February 20, 2019 at 9:18 pm #505936
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7171
    • ☆☆☆☆☆

    Thanks, but I’ve not won any award yet. I’ve only been shortlisted. It’d be fantastic to win and we’ll find out next Tuesday 26th February………

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