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Dear sir/madam,
Could you please explain me Mach case: I slightly confused; why do we credit PPE $5 mln.
Does it relate to the fact that “the land has only recently been transferred to the seller of the shares in Mach”.
so we would like to assume that land has not been transferred at the acquisition date ?
thank you,
regards,
AlexHi,
Yes in the question it states that the land is still carried in the group financial statements. If it has been transferred as part of the acquisition then it needs to be removed from the financial statements.
To do this we firstly need to revalue it to the $5 million and then remove it.
Thanks
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