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Specimen Sep 2022 – AAA (Int’l) – Section B -Q.2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AAA Exams › Specimen Sep 2022 – AAA (Int’l) – Section B -Q.2

  • This topic has 3 replies, 2 voices, and was last updated 3 weeks ago by Kim Smith.
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  • July 12, 2022 at 6:38 am #660321
    nataliemcc
    • Topics: 6
    • Replies: 1
    • ☆

    For the answer of part a, how the materiality of assets of the division of 27.3% of the company’s total assets to be calculated?

    Thank for answer

    July 12, 2022 at 9:01 am #660326
    Kim Smith
    Keymaster
    • Topics: 91
    • Replies: 6205
    • ☆☆☆☆☆

    I presume you mean Q3 Myron.

    The only possible figure in the scenario on which to consider assets is the value in use $45m – which is the carrying amount of the division included in the company’s $150m total assets – so 27.3%.

    July 12, 2022 at 9:40 am #660329
    nataliemcc
    • Topics: 6
    • Replies: 1
    • ☆

    How come to get $150m?
    If it is true, it is 30% ($45m/$150m) should be used.

    July 12, 2022 at 10:26 am #660333
    Kim Smith
    Keymaster
    • Topics: 91
    • Replies: 6205
    • ☆☆☆☆☆

    The 1st para starts “It is 1 July 20X5….”
    In the 2nd para starting “The draft financial statement …” it says “and total assets of $150 million”.

    Then my typo – sorry – the carrying amount is now $41 million (Exhibit 1) – $45 was the previous carrying amount.

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