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Ryder 9/19

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Ryder 9/19

  • This topic has 5 replies, 2 voices, and was last updated 2 years ago by Kim Smith.
Viewing 6 posts - 1 through 6 (of 6 total)
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  • August 2, 2020 at 6:00 am #578940
    iza1
    Participant
    • Topics: 114
    • Replies: 112
    • ☆☆☆

    Hello Kim

    I looked at a previous threat related to this and i understand Ryder is not an investment entity ..

    But when they say group operates in hospitality and then say ryder does not trade .. what does that mean ?
    What does Ryder do then ?

    August 2, 2020 at 8:42 am #578943
    iza1
    Participant
    • Topics: 114
    • Replies: 112
    • ☆☆☆

    Hello Sir ,

    As i went through the question i had a couple more doubts. Can you kindly clarify them ?

    1. Ryder is not an investment entity.
    But when they say group operates in hospitality and then say ryder does not trade .what does that mean ?
    What does Ryder do then ?

    2. With respect to primal burgers disposal since its after year end it would come under the scope of IAS 10. But shouldn’t it be a adjusting event as the board approved this in March which provides evidence of conditions at the year end

    3. If the investment in peppers is considered as a JOINT VENTURE , is there any significance to the date August as its just one month before year end in our calculations ?

    August 2, 2020 at 10:06 am #578952
    Kim Smith
    Keymaster
    • Topics: 102
    • Replies: 6956
    • ☆☆☆☆☆

    1. The separate entity Ryder Co “does not trade” means that it is just a holding company (i.e. it holds investments in subsidiaries that trade). (Parent used to always be called “holding” companies but that was confusing because it suggested that parent’s did not trade – when, of course, many do.) In the UK, many non-trading parents have “(Holdings)” in the company name.

    2. Absolutely not – it is a matter of fact that at the reporting date, Ryder controls the subsidiary; it must therefore be consolidated. The only exclusion to non-consolidation of a subsidiary is where it has been acquired for resale and meets the IFRS 5 criteria.

    3. It makes the focus of the risk on classification of the investment in SoFP (as prompted by (c)(i) – so you don’t have to worry about effect on SoPL (for example) because post-acq share of profit would most likely be immaterial (it would not be unreasonable to assume this).

    August 2, 2020 at 10:22 am #578953
    Kim Smith
    Keymaster
    • Topics: 102
    • Replies: 6956
    • ☆☆☆☆☆

    I meant to add Izabel, that I hope you will participate in the “Marking exercise” which is sticky posted at the top of this forum.

    August 2, 2020 at 11:07 am #578955
    iza1
    Participant
    • Topics: 114
    • Replies: 112
    • ☆☆☆

    Thank you very much for your brilliant clarifications 🙂
    God bless you

    August 2, 2020 at 12:31 pm #578958
    Kim Smith
    Keymaster
    • Topics: 102
    • Replies: 6956
    • ☆☆☆☆☆

    You are most welcome Izabel – it is a pleasure to help you!

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