Forum

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.

Name : Felix Time : 17 November 2017 17:40

  • Courses : HKICPA QP Module 11
  • Content :

    What is the day of acquisition for R Ltd for the assignment? Thank you.

Reply: Time : 21 November 2017 09:30

Not specific in the assignment. However, you are given the information on the DOA.

Name : Felix Time : 17 November 2017 21:04

  • Courses : HKICPA QP Module 11
  • Content :

    Does part 2 of question 1 require a consolidated profit and loss or just the statement of financial position?

Reply: Time : 21 November 2017 09:31

Yes, you are required to prepare both statements

Name : LEE Wai Keung (Victor) Time : 3 October 2017 14:08

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

    Dear Sirs, I studied in Dr. Gary Leung ACCA P2 course on Aug to Sept this year! I have following questions: 1. When an e-payment (Debit card) company received deposit from customers, some of them will be used but balance payment keep in e-payment (Debit card) company (example, Autoplus or 共享單車 or 微信支付－－） 2. Where is balance payment in the statement of Financial Position? I think that it can't put as revenue because the customer still not consume the balance payment. 3. Where is the balance payment in the statement of cash flow? In the Operating activities? Victor,

Reply: Time : 10 October 2017 10:06

Thanks for your message. 1) it deals with as deposit received in advance, 2) Yes, and 3) it should be accounts for as changes in working capital under operating activities.

Name : Victor Time : 26 August 2017 19:10

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

    If typhoon number 8 tomorrow, our class will be cancelled. The last P2 class and additional exam review will be re-schedule to next week. Right? Thanks

Reply: Time : 28 August 2017 20:36

Yes, likely on the coming Sunday. HKUSPACE will inform later by email.

Name : Amy Time : 23 August 2017 23:30

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

    I'm confuse in: In lease IFRS 16 - lease for a low value asset - slide 87 Lessee can elect to use simplified accounting consistently for particular class of underlying asset. Illustration 15 slide 89 Lessee can elect to apply simplified accounting to the leases. ⋯⋯, as the election is available on a lease-by-lease basis.

Reply: Time : 25 August 2017 17:51

Short-term leases – made by class of underlying asset Low value assets – lease by lease basis

Name : Elise Time : 11 August 2017 12:23

  • Courses : Financial Reporting Compliance - Post Dip in Corporate Compliance and Bank & Insurance Compliance
  • Content :

    In Earnings per share (IAS 33) PPT, bonus fraction for adjustment of previous year is (no. of shs before bonus shs) / no. of shs after bonus shs. but does it take into the consideration of time the bonus shs issued? in illustration 3, for weighted average no of shares in 2016 should be 175,000shs if 25,000shs for 1-3/2016 and 150,000 shs for 4-12/2016 so the adjustment for previous year is 100,000/175,000? or we don't need to take consideration if the bonus issue is not a whole year event so that for 1 for 1 bonus shs, the previous year adjustment is 1/2? Thanks

Reply: Time : 11 August 2017 15:40

Key point: Bonus issues …..as if the bonus issues had occurred at the beginning of the earliest period presented. For last year: It is already taken into consideration of time issue as if it were issued on 1 Jan 2015. For current year: It is also taken into consideration of time issue as if it were issued on 1 Jan 2015. Therefore, the total number of shares are 200,000. I always use the table format to present the computation of WANOS in order to reduce the mistake on calculation. This is only a matter of presentation of the 200,000 shs in the current year.

Name : Vikki Time : 12 July 2017 17:15

  • Courses : Financial Reporting Compliance - Post Dip in Corporate Compliance and Bank & Insurance Compliance
  • Content :

    In the June 2017 term assignment, to calculate Net profit ratio & Debt-to-equity ratio, it must be included NCI?

Reply: Time : 19 July 2017 11:47

Normally NCI will not be included. I will discuss the assignment on 27 July after finishing the relevant topics.

Name : Vikki Time : 30 June 2017 11:15

  • Courses : Financial Reporting Compliance - Post Dip in Corporate Compliance and Bank & Insurance Compliance
  • Content :

    Fair value Measurement 29 June 2017 One error in the slide 43 IFRS 16 – Insurance contract (replaces IFRS 4 in 2021) --> IFRS 16 - Leases

Reply: Time : 03 July 2017 00:04

Thanks for pointing out the typo. It should be IFRS 17, not IFRS 16.
1
2
3
4
Dissusion Login