Forum

Name : Frankie Time : 11 August 2025 15:43

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

    I am pleased to inform you that I passed the examination, and thanks to your guidance.

Name : Terry Time : 16 August 2024 03:14

  • Courses : HKICPA QP Module 11
  • Content :

    Thanks for your teaching and I passed the paper 11.

Name : Darwin Time : 8 March 2020 13:35

  • Courses : HKICPA QP Module 11
  • 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 11
  • 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 11
  • 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.
1
2
3
4
Dissusion Login