20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March and June 2025 exams.
Get your discount code >>

Weston

This topic has 5 replies, 2 voices, and was last updated 7 years ago by P2-D2.

Viewing 6 posts - 1 through 6 (of 6 total)

Author
Posts
August 20, 2017 at 2:08 pm #402632
Chandan
Member
- Topics: 24
- Replies: 36
Hi sir
Hope you’re doing well
I’ve a query with regards to the past paper question ‘Weston’ that you’ve made a video on.
Why hasn’t the interest income of 8% on $20m been deducted from cashflow statement in cashflow from operating activities?
August 20, 2017 at 5:46 pm #402689
P2-D2
Keymaster
- Topics: 4
- Replies: 7142
Hi,
All good thanks.
Where do those numbers come from? I will only have adjusted for the numbers in the statement of profit or loss.
Thanks
August 20, 2017 at 5:48 pm #402690
Chandan
Member
- Topics: 24
- Replies: 36
Yeah but won’t we take the 8% to interest income in the p&l?
Dr financial asset
Cr interest income
August 20, 2017 at 5:52 pm #402695
P2-D2
Keymaster
- Topics: 4
- Replies: 7142
Yes, but has it already been included in the accounts?
August 20, 2017 at 5:56 pm #402697
Chandan
Member
- Topics: 24
- Replies: 36
There’s no specific heading ‘interest income’ in the statement of p&l but I feel it’s under other income?
August 21, 2017 at 5:33 pm #402807
P2-D2
Keymaster
- Topics: 4
- Replies: 7142
It specifically says the interest has been correctly recorded in the consolidated financial statements, so there is no reason to adjust it or guess where it may be.
Author
Posts

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic.