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revision questition Toumaret

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › revision questition Toumaret

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.
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  • April 6, 2014 at 4:01 pm #164551
    francis05
    Member
    • Topics: 2
    • Replies: 6
    • ☆

    What was the treatment for the extra 10m on sold and leased back plant
    I followed your lectures up to when you they will treat it as deferred cash and amortise it but in the workings it was not shown.
    Can you please clarify the treatment of the that
    Franc

    April 6, 2014 at 8:43 pm #164561
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    I don’t have the question to hand so this is from deducing the information from your post.

    When the asset was sold and leased back, it’s not “true and fair” to take credit for the profit arising on the sale. Instead we shall spread the profit from the sale over the period of the lease.

    Does that answer it?

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