ACCA F7-FR - Financial Reporting - Chapter 8 - Other Standards (Part 2)

[@muhammadjunaid520]

Sir, you teaching method is so good mashallah love from Pakistan 🇵🇰 ❤❤❤

[@740abhilashakhatri3]

perfect explanation

[@jaiminjaviya1461]

These videos are really life saver. Explanation is also good. But the video links that you are recommending in between the videos are not showing up.

[@husainmahdi5726]

Superb video sir ❤

[@HarshaDuggaraju]

thank you sir:)

[@gitanjalib8157]

Hello sir !!! Could you please upload financial assets and financial liabilities chapter by this week coz it would be indeed helpful for March exam 2021 . PS:- your videos are to the extreme helpful and easily could get the clutch of the concepts thanks a lot!!!

[@CAAnshulMittal]

I'll try for sure

[@gitanjalib8157]

@@CAAnshulMittal thank you sir 👍

[@ridhigandhi5379]

Sir pls help...inventory at cost or nrv will go in sofp and in cost of goods sold or not

[@mandarpatil4574]

thank you sir ❤

[@MirzaAffaf]

☺

[@Capital...1800]

Hello Sir, Very much confused about cost to completion, can you please explain it with an example. In video you added 80% + 20% less cost cost to sale, but as per the NRV formula cost to completion should be deducted. Cost to sale understood, but stucked at the point Cost to Completion, What is it actually and why it should be deducted from NRV?? If it contributing for completion of the product... Please explain

[@CAAnshulMittal]

Good question. NRV is net realisable value. which means the asset in current situation can be realised at this value. If we spend some more amount on the product it means we have done extra expenditure and we will not be able to realise this so we deduct it from NRV. eg. NRV is 100000, forther cost is 5000. NRV remains same. This means now the net cash received by you will be 100000-5000 that is 95000

[@kainattariq4431]

part 3 inventories ki video h ya nh???

[@mustafabatatawala5542]

CAN ANY ONE EXPLAIN TYU 3 [6] PLZ

[@skak7812]

pls put subtitles sir

[@nikhilmahajan833]

Solve 5

[@KeerthanaSunilkumar]

Production Cost per unit = Cost of raw materials + Direct Labour + Production Overhead per unit = 1 + 0.50 + (60,000/10,000) = 1+ 0.50 + 6 = $ 7.50 per unit is the production cost. Therefore, value of the Closing Inventory = No. of Closing Inventory * Unit Cost = 700 *7.50 = $5,250.00

[@__Sandycheeks__]

@@KeerthanaSunilkumar why do we divide prod OH with 10,000 when we only produce 8,000 units in the year?

[@KeerthanaSunilkumar]

​@@__Sandycheeks__ Because 10,000 units is the normal level of goods produced and production overhead must be based on the normal level of activities (18:23). That OH of $60,000.00 incurred was for the production of the entire 10,000 units, not just 8,000 units. That is, for each unit of good produced, $6 was incurred as the overhead (even for the 2000 units of goods wasted, which will be expensed out in the SOPL)...... Hope you get it.

[@darshigogri6882]

Test your understanding 2. If we have to assume that no cows are purchased or sold. You mentioned that the were born to existing cows. Still it doesn't explain why commission is charged? If not purchased and sold. Why use 4%??

[@immortalvasco9665]

Initial recognition is based on fv less cost to sale