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Sep 16 examiner report

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Sep 16 examiner report

  • This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 8, 2019 at 3:31 am #515274
    toushiga
    Participant
    • Topics: 424
    • Replies: 172
    • ☆☆☆☆

    Hello Sir,
    “The second question that caused difficulty was the treatment of profit on a sale and leaseback arrangement. The profit is the difference between the sale proceeds and the carrying amount (at the time of the sale and leaseback) and this is spread over the remainder of the asset’s useful life
    or, if shorter, the remaining lease term.”

    what means the profit is spread over the remainder of the assets useful life? can you give an example?

    Thank you.

    May 11, 2019 at 7:26 am #515570
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Hi,

    You don’t need to worry about this as it is the treatment under the old IAS 17 rules and has been replaced by IFRS 16.

    Thanks

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