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Quick question on financial assets

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Quick question on financial assets

  • 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
  • October 10, 2017 at 8:31 am #410148
    Isabelle
    Member
    • Topics: 17
    • Replies: 22
    • ☆

    Hi,

    I’m working through a part A question which asks me to correct a SOFP.

    One of the pointers mentions a 2 year loan which is one year in for £15m to key supplier which is interest free and currently held £15m in the accounts.

    I think it should be discounted to Present value, which I have calculated, but when correcting the SOFP I’m not sure what the other side should be?

    October 11, 2017 at 10:30 am #410326
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7141
    • ☆☆☆☆☆

    Hi,

    Take the other side of the entry through profit or loss.

    Thanks

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