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- January 13, 2020 at 10:09 am #558269
Got success in 3rd attempt. I got 65 marks on attempt of 80.
December 10, 2019 at 6:14 pm #555618Ok. I got it. Thank You.
December 10, 2019 at 10:15 am #555589Sorry but a question came in my mind. You said this regarding textbook “I would suggest that you lock the study text in a dark room and give the key to a stranger that you will never see again”. So either syllabus has changed or to read lengthy text for this subject is waste of time?
December 6, 2019 at 9:45 am #555250F4 CBE is 100% objective or there are subjective/constructive questions also?
December 5, 2019 at 8:07 am #555018Thank You.
November 1, 2019 at 8:09 am #551336Thank You
October 30, 2019 at 11:32 am #551232So, the statement “Existence is an assertion about account balances at the period end” is true?
October 22, 2019 at 10:24 am #550428Thank You.
October 22, 2019 at 9:36 am #550423So, If management asks auditor not to perform circularization, what should he do then?
Means confirmation procedure is an irrelevant audit procedure to be applied on any item of Income statement?
December 5, 2018 at 10:41 am #487454I think the error is material but it’s not pervasive. PBT is 2.3m and error is 0.5 so now PBT will be 1.8m. Still company is earning profits and profits are not converted to loss so the matter is not pervasive. The audit opinion would therefore be Qualified opinion.
July 7, 2018 at 9:27 pm #461268Thanks for your suggestions.
January 15, 2018 at 7:16 pm #43023565%
November 16, 2017 at 6:28 am #416050Thanks
November 13, 2017 at 10:51 am #415532Will you please summarize steps for calculation of group R.E and NCI that what should be included and what shouldn’t? When practicing, I always get wrong answer for these because of adjustments like mentioned in above questions.
November 13, 2017 at 10:25 am #415516*SORRY FOR WRITING AS SOON AS POSSIBLE”
In Consolidated statement of Profit or loss, total revaluation gain is 2100 (1500 of parent as given in question and 600 for subsidiary revaluation surplus at year end.
Following is part of question
“At the date of acquisition, the fair values of Subtrak’s assets and liabilities were equal to their carrying amounts with the exception of Subtrak’s property which had a fair value of $4 million above its carrying amount. For consolidation purposes, this led to an increase in depreciation charges (in cost of sales) of $100,000 in the post-acquisition period to 30 September 20X4. Subtrak has not incorporated the fair value property increase into its entity financial statements.The policy of the Plastik group is to revalue all properties to fair value at each year end. On 30 September 20X4, the increase in Plastik’s property has already been recorded, however, a further increase of $600,000 in the value of Subtrak’s property since its value at acquisition and 30 September 20X4 has not been recorded.”
But as per workings of solution for finding group retained earning and NCI, this 600000 is not added in calculation of subsidiary retained earnings. If this 600000 is added to subsidiary R.E, so this would change group retained earnings?
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