It’s all about ACCA SBR! Tom Clendon is an SBR online lecturer and podcaster who helps students pass their ACCA SBR exams. For more information please visit his website tomclendon.co.uk or message him on what’s app 07725 350793
I just got my SBR result today and pass with 71!! I’ve got to give a huge thanks to sir Tom Clendon for explaining concepts clearly and giving useful exam techniques. I also follow your ways of formulating answers. Thank you for these wonderful free resources and keep up the good work sir!!!
@@quynhanh8870 thank you. I am so pleased that you have passed the exam. Actually smashed it. 71 is a really good mark. I hope you can take the exam technique you have learnt into other ACCA exams. Just move on.
Dear Tom, is it possible that when an item classified as Fair Value Through Other Comprehensive Income (FVTOCI) is sold, the accumulated gains or losses that were previously recognized in Other Comprehensive Income (OCI) are transferred to the Statement of Profit or Loss (SPoL)?
@@Ahmed-w1r7d The accounting treatment is set out in IFRS9 … and it depends. If the financial asset classified as FVTOCI is an equity instrument then IFRS9 states no recycling BUT if the financial asset classification as FVTOCI is a loan / debt instrument- then IFRS 9 requires recycling We live in a rules based world. 🌏
Sir, isn't it Value in use is another thing that should be consider as basic when asset's Value in use is difficult to get in isolation as being unable to generate cash flows on their own but be able if it is consider as CGU. Thanks.
@@mitul206350 That applies to goodwill! Because, as you are probably aware, goodwill cannot be separately sold (has no FV) and doesn’t on its own generate any sales (has no value in use) but must be subject to an annual impairment review - so goodwill is tested at the level of the cash generating unit - eg in conjunction with the net assets of the subsidiary to which it relates. Such impairment losses are then allocated first against the goodwill. It’s tricky when doing a very short video- with the brief “back to basics” to know where you draw the line. When I teach impairment it takes a long time and I have a dozen examples so students understand grossing up of goodwill & reversal of impairment losses etc! Anyway … onwards & upwards !
Sir, many thanks for helping me to remember the allocation method of assets to CGU as part of a debriefing of IAS 36 (IoA). However, as a basic learner, I would like to strengthen my basic more for the following: - A football team - A group of similar machines (or identical/similar circumstances) Isn't it difficult to determine VIU of an individual player in isolation? Under IAS 36 CGU's importance under above circumstances (if any)? What would be CGU's value then? Note, I've been following you since long to improve my learning. Thanks.
@@mitul206350 if you are considering the application of cash, generating units etc to football teams. You are not a basic learner my friend. Sounds like you are an active student wanting to pass strategic business reporting and therefore should be signing up for one of my courses! Please feel free to WhatsApp me on (07725) 350793 and I will send you further details. That is a UK number. +44 if you are overseas
@@tomclendonaccasbronlinelec7226 Sir, Being a fundamentalist under common framework (outside of accounting framework), I wish I could PENALIZE (MORE JUSTICE, even the grant can't be a justice as it depicts double taxes of those naive people, until unless it comes from a MORE natural event, the grant consideration) those who causes for deliberate impairment losses of any asset to make a reversal adjustment. (Hahaha). Sir, Currently I'm facing some technical difficulties to using WhatsApp and will contact you surely very soon. Thanks.
Helpfull. I appreciate your effort. I have a question on this. Q: Stylo hasn't sought the advice commercially by paying any fees and no other vested interest exists. All he wanted to take any advice personally as he is a friend of him. How could this would be an act under course of professional due care? Thanks.
@@mitul206350 it’s important to behave ethically at all times. Accountants have been disciplined for acts totally unconnected with their employment in the past where they have bought the profession into disrepute
thank you sir for your informative video. also the change method of depreciation from reducing to straight line is measurement change right? so why is is said change in accounting estimate
@@rosea6767 switching from a different method of appreciation is not a change in accounting policy, and therefore will not lead to a pride period adjustment. It is not a change in measurement. It is only a change in an accounting estimate.
@@stuartmacaulay5761 - yes another another name for trade receivables is trade debtors. These are current assets arising from sales on credit. Trade payables are indeed current liabilities and arise from purchases on credit terms.
@@tomclendonaccasbronlinelec7226 That is what I wondered 🙂 Because in the video (Around 2 minutes 15 seconds) you state another name for receivables is trade payables.
Thank you very much, Tom, for sharing this debriefing with us. I just want to say, if a professional like Tom, with years of experience teaching this subject, is struggling to fully showcase his perfect answer within the time given... how can we? The ACCA should consider allowing more time for this exam!
Very Useful, Thanks. I would be grateful if comment with regard to example 3. IFRS-3 allows one year to adjust numbers of consolidation entries i.e one year after date of acquisition is allowed to change initial consolidation entry numbers. With the example 3- Would it be correct to interpret that any subsequent increase (after one year) in PPE as well , Goodwill would be first adjusted/w-off for PPE increase and only thereafter if there is any increase then it would go to Revaluation Reserve. In other words, I am trying to ask is this treatment of example 3 limited to one year period? I am beginner level to learn IFRS, appreciate your help
