A BIIIIGGGG THANKS AMIGO! Nobody explains in a deep way DT concepts as you did KUDOS for you!! all the video contains important information but the min 14:55 was key for me!!! thanks
Thank you very much Tom! You're very talented at explaining difficult concepts and topics in a simplified manner. I wish I had you as a teacher when I was younger!
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
sir i tried solving the SBR paper (SBR INT Practise3) i was able to only cover 82 marks in 3hours15min there was so much in depth knowledge but due to the lack of presentation of the answer and time management it created a problem to finish the paper the question was regarding the loss of the company weather it should treat it as DTA through out the year for IAS-12 few were fun where i had a depth of knowledge but few were nasty question.
well done on doing a mock. One will never solve the paper in the sense of getting the answer right and getting 100%. What is key is that you have done it and that you learn from the experience
If a tax assessment has been raised - then yes it will be a current liability - this is not deferred tax - the entry for a tax liability assessed is Dr PL tax expense and Cr CL tax due
Sir I tried a second mock I was able to get more time at this mock as for a last one SBR INT Mar/June 23 (22/23) mock I was able to answer better but I faced one problem in sec B regarding the Contingent liab the case was about company that states that It doesn't face any liabilities and doesn't record it in the books and is not liable to the damages as the company is in a clean chit, but should it record contingent liability I know about the theory but it was asked for 6marks or something with less info I didn't know what to write for 6marks I know the theory constructive legal, Restricting costs or any provision etc how to record it but there was very less info to take decision
I am pleased that you are making progress. With a contingent liability at the individual company stage it is a disclosure in the notes (IAS 37) so no liability is recognised - but when it comes to that compnay being acquired then in the group accounts and assessing the fair value of net assets IFRS3 kicks in and the contingnet liability is recognised at its fair value.
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That was awesome, finally am able to understand the logic behind accounting for DT, had always been a nightmare!
Thank you - I do believe that accounting is understandable - and then when you get the logic then it becomes much easier
A BIIIIGGGG THANKS AMIGO! Nobody explains in a deep way DT concepts as you did KUDOS for you!! all the video contains important information but the min 14:55 was key for me!!! thanks
Brilliant - thank you for your thank you !!
Thank you very much Tom! You're very talented at explaining difficult concepts and topics in a simplified manner. I wish I had you as a teacher when I was younger!
Kind words - thank you
Hello Sir... This is a student from India... Such a valuable and yet simple video... You are a great teacher❤
Thank you kindly - I wish you all the best
Kindness totowards your students are absolutely incredible.
It is what makes the world go round
Solving these gave me the much needed confidence! Thankyou Tom.
I hope you are planning to do these for more topics!
You inspire me! I am glad that you have found the confidence within you
Thank you so much Tom for creating these great videos to refresh the concepts. Awesome!
And thank you for your thank you Farhan
This was very helpful. I was able to understand this difficult topic in just a few minutes. Thanks so much.
That’s heart warming to hear! Thank you
Thanks a lot for another helpful video
@@ghufranranjha9700 so glad you liked it!!!
This has been very helpful.Much appreciated
Thank you - good to know
Thank you
So helpful Tom, thank you!
10 out of 10 very useful
Thank You Tom :)
No worries - glad it helps
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
sir i tried solving the SBR paper (SBR INT Practise3) i was able to only cover 82 marks in 3hours15min there was so much in depth knowledge but due to the lack of presentation of the answer and time management it created a problem to finish the paper the question was regarding the loss of the company weather it should treat it as DTA through out the year for IAS-12 few were fun where i had a depth of knowledge but few were nasty question.
well done on doing a mock. One will never solve the paper in the sense of getting the answer right and getting 100%. What is key is that you have done it and that you learn from the experience
thanks Tom
This was very helpful 🙏
Good to know - and good luck
Wonderful
Thank you - glad it was useful
💯💯💯💯💯💯
@@emmanuelmwansa5967 ✔️🫵🏼🙏🫶🏽✌️🎈🦾
Thank you from 🇯🇲
Thank you for the video. For example 2, you didn't mention the higher current tax liability. How do we account for current tax liabillity?
If a tax assessment has been raised - then yes it will be a current liability - this is not deferred tax - the entry for a tax liability assessed is Dr PL tax expense and Cr CL tax due
@@tomclendonaccasbronlinelec7226 thank you!
Sir I tried a second mock I was able to get more time at this mock as for a last one SBR INT Mar/June 23 (22/23) mock I was able to answer better but I faced one problem in sec B regarding the Contingent liab the case was about company that states that It doesn't face any liabilities and doesn't record it in the books and is not liable to the damages as the company is in a clean chit, but should it record contingent liability I know about the theory but it was asked for 6marks or something with less info I didn't know what to write for 6marks I know the theory constructive legal, Restricting costs or any provision etc how to record it but there was very less info to take decision
I am pleased that you are making progress. With a contingent liability at the individual company stage it is a disclosure in the notes (IAS 37) so no liability is recognised - but when it comes to that compnay being acquired then in the group accounts and assessing the fair value of net assets IFRS3 kicks in and the contingnet liability is recognised at its fair value.
you are the best thing i found out recently sir
Thank you Ajay - The Style Council recorded a great track called "You are the best thing" - loved that band
Hi Tom, i would like to know more about your classes.
But i am not able to connect with you on WhatsApp. I don't know why.
If you in the UK - it is 07725 350793 but if you not in the UK my whats app is +44 7725 350793 -
But you can always email me clendon@hotmail.co.uk