Is it a related party transaction, should a provision be made? Tom Clendon explains a SBR scenario
The company has given a guarantee on behalf of the director’s sister who has borrowed $1m but there is only a 1% chance she will default. Discuss!
Well before you play the video - please first think of your answer!
Is it for example a related party transaction?
Should a provision be made?
And what’s the 3rd standard that I am going to mention in my answer?
I hope you enjoy the answer - shot at the showies to the Nairn Highland games in Scotland.
If you want to know more about my ACCA SBR online courses please get in touch by what’s app 07725 350793 (+44 7725 350793) and visit my website www.tomclendon.co.uk
Пікірлер: 16
Lovely...Tom.u are the GOAT in the game
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Thank you Ivan.
Love your vids Sir. Keep em coming before my paper next week! :)
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Glad you like them!
Perfect timing, Tom, just writing up my notes on Related Parties and your video popped up ;)
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Great! Glad it helps. Have you listened to my podcasts yet?
@fleximick
2 жыл бұрын
@@tomclendonaccasbronlinelec7226 Every single day! My wife's head is done in: "put your bloody earphones on!!" Looking forward to the revision session on Wednesday
@kombastephen8723
2 жыл бұрын
@@tomclendonaccasbronlinelec7226 thanks for the short video , my problem is the definition of related party. It says close family members that includes wife/husband, children and dependants. Why the sister is considered as a close family member?
Great Lecturer!
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Glad you think so!
Well explained Tom!
@tomclendonaccasbronlinelec7226
11 ай бұрын
Thank you !!
Bloody brilliant. Any chance of a video on revaluation surplus or disposals of assets.
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Thank you Red Bear - that has inspired me - watch this space.
situation: a company guaranteeing a 1m loan of a director's sister ( might be 6marks) 1. related party 2. provision or liability 3. financial instrument 4. ethical aspect- not the best interest of company
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Love it