Published Accounts ( IAS 1 Presentation of Financial Statements ) - Reporting

This video explains Published Accounts/ IAS 1 Presentation of Financial Statements for Financial Reporting/ Corporate Reporting Students. The video examines Statement of profit or loss and other comprehensive income, statement of changes in equity, statement of financial position and schedule of property plant and equipment.
The question solved examines IAS 1 Presentation of Financial Statements, IAS 32 Financial instrument presentation, IAS 12 income tax, IAS 16 property plant and equipment and some other standards.
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[@ahmednjidda6182]

God bless you sir.

[@Ezikan]

Amen, thank you

[@sampsonsalis7130]

Thank you sir

[@Umarcommercial]

Thank you Sir and please solve the one that is in November 2023 diet

[@Ezikan]

Noted

[@ogungbemibabajidecharles]

Weldon sir, please what of SFM video for may 2024

[@Ezikan]

Noted

[@prosperbello4310]

Sir..is it right to include the impairment of financial asset with administration expenses or cost of sale.Becos in ur posting ,you separated it..?

[@Ezikan]

It is right to include impairment loss in administrative expenses

[@unyimeinyang3301]

Pls sir why did you include additional information (iv) to distribution cost

[@Ezikan]

I charged depreciation on motor vehicle to distribution cost because it has been stated in that note (iv) to charge depreciation on motor vehicles to distribution cost

[@prosperbello4310]

Am getting confuse..Also,where the procced of 69,250,000 of disposal of equipment deducted from the revenue include?
You also include investment income to other income in ur calculation.i tot other income and investment income are different?

[@Ezikan]

Inclusion of the proceeds from disposal of an asset in revenue is not ideal. That is a wrong class of accounts. Error of principles. Since question stated that the proceed is already included in revenue, you would need to subtract it from it.

[@prosperbello4310]

@@Ezikan ok sir...but sir,where should the proceed go to in publish account,?
Also,u added investment income to other income.is it done that way.?...thank u sir,..am writing this may ICAN diet and I need more understanding..

[@Ezikan]

You only use the proceeds to calculate the profit or loss on disposal.

[@Ezikan]

You can include Investment income in other income