Forum

Name : Darwin Time : 8 March 2020 13:35

  • Courses : HKICPA QP Module A
  • Content :

    Happily share the result of December diet: it's a Pass!. Thank you a lot for your tutoring!

Reply: Time : 08 March 2020 13:46

Congratulations !!!!

Name : Ceci Time : 25 August 2019 12:52

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    Sir, regarding IFRS9 notes P.97, I do not quite understand why debt instrument measured at FVTPL does not have to calculate the interest income using effective interest method but simply credit it in P/L by using ($100,000 x 5%)? On the contrary, financial liability (P.110) measured at FVTPL would need to add finance cost and reduce interest paid?

Reply: Time : 28 August 2019 00:24

You are correct. the effective interest rate should be 8.79% instead of the 8%. Therefore, in the year ended 31/12/17, interest income of $8,350.5 ($95,000 × 8.79%) would be recognised in profit or loss. The asset would be revalued to $110,000 with a gain of $11,649.5 ($110,000 – $98,350.5) recognised in profit or loss.

Name : Ceci Time : 24 July 2019 17:00

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    Dear Dr. Leung, Regarding IFRS9 financial instrument, notes P.201-203 Illustration 30, would you mind to explain why 30 days and 90days expected loss provision are not taken into account?

Reply: Time : 25 July 2019 11:39

As the company granted 90 days credit period to customers and the debts are still not overdue at the moment on page 202.

Name : Cherry Time : 14 March 2019 12:09

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    Hi Sir, IFRS 9 reclassification of Financial Asset. Changing from FVTOCI to AC, I don't quite understand how to treat the cumulative OCI against the Fair Value on reclassification date. Is that adding-up the cumulative OCI on top of the Fair value?

Reply: Time : 17 March 2019 11:42

It means that we have to remove the OCI reserve and adjust it to the carrying amount of AC until it equals to the amortized cost.

Name : Ham Time : 10 February 2019 14:49

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    I've reviewing the Disposal without loss control recently. On Powerpoint P.36, illustration 7 Current NAV of subsidiary is $300,000, Goodwill is $220,000. The question is Parent Transfer 20% share to Sub. and how to deal with it. I see the calculation of Transfer NCI is 20% x ($300,000 + $200,000) My confusion is that NAV of subsidiary is the interest of parent + NCI. By multiplier the whole NAV plus Goodwill to 20%, will the NCI being overlapped or double counted?

Reply: Time : 17 February 2019 10:04

The calculation is as follows The NAV + Goodwill at the disposal date X the no of shares transferred to NCI. This is the total value of net worth of the company as a whole at the time of transfer to NCI, and it do not relate to overlapping or double count issue of NCI. it means that your question will not be related/considered when calculating the net worth of the 20% of the total value of the company at the time of transfer. For example: you bought 10% of XX Ltd share at $100 previously ( means that the net worth of the company was $10,000 X 10% at that time) Now, you are considering to buy 20% more of XX Ltd, the value of 20% should be based on total net worth at now X 20%

Name : Tino Lo Time : 6 December 2018 23:20

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    Hi Mr. Leung, attached is the illustration 13 of Chapter Share based payment. would you please tell me how to figure out the actual average increase in this illustration, 11.5% for 30 June 2014 and 10.67% for 30 June 2015? Thank you

  • Document : IMG20181206211609.jpg

Reply: Time : 30 December 2018 22:12

11.5% = (13% + 10% )/2 10.67% = (13% + 10% + 9%) /3

Name : Sham Heung Sang Time : 15 October 2018 16:21

  • Courses : HKICPA QP Module A
  • Content :

    Leung Sir, I got it. Many thanks for your help. Regards, Ambrose

Reply: Time : 15 October 2018 23:16

Great, Ambrose, see you tomorrow evening.

Name : Sham Heung Sang Time : 10 October 2018 18:21

  • Courses : HKICPA QP Module A
  • Content :

    Mr. Leung, I am Sham, Heung Sang, your student (just started from 9 Oct 2018), I have not registered a QP student, and so today I tried online registration but failed. Can you let me have a past paper in a short time? My email is ambrose@corporation.com.hk Regards and thanks, Ambrose

Reply: Time : 10 October 2018 19:44

Hi Ambrose, please login the course on my website and you may download it. Please let me know if I am of the further assistance in this matter.

Name : Ricky Time : 21 January 2018 10:55

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    I have passed the P2 exam, many thanks for your teaching and exam skills.

Reply: Time : 21 January 2018 10:55

How Wonderful ? please keep on it, Ricky.

Name : Edward Time : 22 November 2017 00:19

  • Courses : ACCA Professional Examination Preparatory Programme - Strategic Business Reporting
  • Content :

    I am confused with 2011 D Q1 (Note 2) about the consideration comprising transfer of land with FV $64m (carrying amount $56m). The answer shows $64m instead of $56m is used for calculating goodwill. According to your L1 slide P55, carrying value should be used if it is transferred to acquiree. However, the question doesn't state that it is transferred to former owners or acquiree. How can I distinguish if the question doesn't mention this? Thanks!

Reply: Time : 24 November 2017 10:06

The past exam paper did not specifically mention it as it is generally understand that the transfer of land is outside the combined group. If it is not the case, the question will provide you more specific information about such transfer.