Friday, November 20, 2009

P8

P8 has a lot in it.
10% corridor - use the opening balances for obligation and asset to calculate the corridor and not the closing balances. Net off the assets and liablities and any unrecognised gains or losses to get the balance sheet figure.

Know IAS1 layout for the consolidate income statement and know where to put the figures for profit from associate and the MI figure.

Phew. And all this before cash flow. what an effort

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