Is it PPE, IP, H4S or inventory (when you buy land and buildings) - an example discussed.

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A company has bought land and buildings for renovation and sale 10 months later.
Explain how this will be classified and accounted!
So have a think before you watch the video where I explain and justify the answer. There are 4 possible answers!
Can you explain why three are wrong and only one is right?
IAS16 PPE
IAS40 IP
IAS2 Inventory
IFRS5 Held for Sale
I hope you find the video useful. Like it & subscribe to my channel if you do.
If you want to pass ACCA SBR then get in touch via my website www.tomclendon.co.uk

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12 сен 2024

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Комментарии : 34

@fleximick 3 года назад

Tom, I wish you taught every ACCA paper!

@tomclendonaccasbronlinelec7226 3 года назад

SBR’s a big enough beast for me! 😀

@nakambachiweza 3 месяца назад

Your analysis skills are just at another great level!

@tomclendonaccasbronlinelec7226 3 месяца назад

Thank you. Kind of you to say so

@pro-educationacademyltd7713 2 года назад

Tom you still strong in your explanation well done. Ali Khelfaoui

@tomclendonaccasbronlinelec7226 Год назад

Thanks Ali

@alalekohani1186 9 месяцев назад

Great explanation. Thanks for your useful video.

@tomclendonaccasbronlinelec7226 9 месяцев назад

A pleasure

@Mlamsjans Год назад

Great explaination. Thank you Sir

@tomclendonaccasbronlinelec7226 Год назад

Thank you for your thank you

@amrmunir4483 Год назад

Thanks Tom , i really enjoy your videos its full of great help and energy 💞

@tomclendonaccasbronlinelec7226 Год назад

Thank you for your kind words

@ikramfazal5208 3 года назад

A very good example with complete explanation. This example will surely enhance our way of consideration

@tomclendonaccasbronlinelec7226 3 года назад

Thank you

@mateuszmejza1178 9 месяцев назад

Only the third video on this channel that I watch and halfway through it my mental dialogue goes "I like this guy!" hehe. These real life accounting examples told in an engaging way are rare on the internet. Many thanks!

@tomclendonaccasbronlinelec7226 9 месяцев назад

Thank you - thanks great feedback - glad you appreciate the videos and find them useful

@lessthan90degree 2 года назад

*Thank you Tom* ! You cleared up so many things especially how to tackle exam questions.

@tomclendonaccasbronlinelec7226 2 года назад

No problem. Happy to help

@kwameodoom1305 3 года назад

Great Job, Tom. I love it. You might want to take it a little further to explain what happens if the property is not sold after the 12 months period.

@tomclendonaccasbronlinelec7226 3 года назад

It can still be inventory! After all some stocks take more than one year to season (wood / whisky) as they have a longer operating cycle

@libertydhobhi2869 Год назад

Great thanks Tom

@tomclendonaccasbronlinelec7226 Год назад

No worried Liberty

@hemashreesampath5157 2 года назад

Thanks alot sir for such a clear explanation, it really helped me understand the concept

@tomclendonaccasbronlinelec7226 Год назад

glad it helped

@shabbirkurawedwala7579 2 года назад

Brilliant explanation👍

@tomclendonaccasbronlinelec7226 Год назад

Thank you

@kellygopiechansingh8168 Год назад

This was a fantastic explanation!

@tomclendonaccasbronlinelec7226 Год назад

Thank you Kelly - that is kind of you to say so

@mbfajardo 3 года назад

Great explanation Tom! 👏🏻👏🏻 I

@tomclendonaccasbronlinelec7226 3 года назад

Thank you

@ammars8455 3 года назад

Hey Tom, great video and explantion. Also I have doubt regarding if in the group accounts question, will the spreadsheet calculations be marked if we provide discussion in word and calculations in a spreadsheet?

@tomclendonaccasbronlinelec7226 2 года назад

Yes it will