Is it PPE, IP, H4S or inventory (when you buy land and buildings) - an example discussed.
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
Пікірлер: 34
Tom, I wish you taught every ACCA paper!
@tomclendonaccasbronlinelec7226
2 жыл бұрын
SBR’s a big enough beast for me! 😀
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
7 ай бұрын
Thank you - thanks great feedback - glad you appreciate the videos and find them useful
Your analysis skills are just at another great level!
@tomclendonaccasbronlinelec7226
Ай бұрын
Thank you. Kind of you to say so
A very good example with complete explanation. This example will surely enhance our way of consideration
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Thank you
Tom you still strong in your explanation well done. Ali Khelfaoui
@tomclendonaccasbronlinelec7226
Жыл бұрын
Thanks Ali
Great explaination. Thank you Sir
@tomclendonaccasbronlinelec7226
Жыл бұрын
Thank you for your thank you
Great explanation. Thanks for your useful video.
@tomclendonaccasbronlinelec7226
7 ай бұрын
A pleasure
*Thank you Tom* ! You cleared up so many things especially how to tackle exam questions.
@tomclendonaccasbronlinelec7226
2 жыл бұрын
No problem. Happy to help
Thanks Tom , i really enjoy your videos its full of great help and energy 💞
@tomclendonaccasbronlinelec7226
11 ай бұрын
Thank you for your kind words
Thanks alot sir for such a clear explanation, it really helped me understand the concept
@tomclendonaccasbronlinelec7226
Жыл бұрын
glad it helped
Great thanks Tom
@tomclendonaccasbronlinelec7226
Жыл бұрын
No worried Liberty
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
2 жыл бұрын
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
Brilliant explanation👍
@tomclendonaccasbronlinelec7226
Жыл бұрын
Thank you
This was a fantastic explanation!
@tomclendonaccasbronlinelec7226
Жыл бұрын
Thank you Kelly - that is kind of you to say so
Great explanation Tom! 👏🏻👏🏻 I
@tomclendonaccasbronlinelec7226
2 жыл бұрын
Thank you
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 жыл бұрын
Yes it will
What if it's an asset held for sale but but still the company continues to get rental income whilst actively marketing it .
@tomclendonaccasbronlinelec7226
Жыл бұрын
The lessor would be recognising the rental income in the PL