[xerath1]

Practice the Exam Kit, see if you can understand the questions

Practice from the ACCA study Hub.

[xerath1]

Hi,
The first Required tells us to find the carrying amount of ppe at 30 September 20X5.

In the Workbook answer Section they have included the Trade discount in the cost and and deducted accumulated depreciation from the cost.
Cost ( 8559-855 + 105 +356) = $8,156
Accumulated Depreciation= ($513)
Carrying Amount of PPE = $7,643

As per IAS , IAS 16 lists the components that make up the cost of an item of property, Plant and eqipment as follows.

i) Purchase price, including any import duties paid, but excluding any trade discount and sales tax paid.

My question is, Why is Trade discount included in the cost calculation in this question?

[xerath1]

Check emailguys

[xerath1]

Yeah

[xerath1]

Go for FR and AA, follow opentution lecture notes and Thier videos, practice the exam kits and you are good to go.

[xerath1]

Yes, they are the same

[xerath1]

I share a WhatsApp group link but it gets removed , if anyone wants to join, share your number

[xerath1]

Thank you so much Mr.John Moffat, I could not understand the answer provided by the BBP Text Book, you explained it so much better, thank you.

[xerath1]

Examiners comment on questions which most students got wrong and explain it how should have been done and etc, no not all questions are like that. Practice the specimen paper, you will get a better idea what type of questions might come in the exam

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