Sept 2016

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April 24, 2019 at 1:28 pm #513995
toushiga
Participant
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Hello Sir ,for PYQ Sep 2016 Section B Q25 answer:
“Profit on sale = 120,000 (370 – 250) spread over 5 yrs = $24,000”

why the profit on sale is spread over the 5 years?
April 25, 2019 at 8:19 pm #514144
P2-D2
Keymaster
- Topics: 4
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Hi,

This is old IAS 17 treatment and therefore is no longer relevant under IFRS 16.

Thanks
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