I'm back again!

[devonutopia]

Been away in Bristol for ANOTHER week of revision course, and now back at home. Prospect of two exams on Monday & Tuesday next week, so I apologise in advance if I'm not on here that much.

Anyone got any tips on Business Management and Financial Reporting? (Accountancy exams )

[Col]

Anyone got any tips on Business Management and Financial Reporting? (Accountancy exams )

Bribes and learn to play Golf.

[devonutopia]

Got the golf sorted. Handicap of 33 at the moment, working on that.

Not got enough money for bribes....

[Eshrules]

Got the golf sorted. Handicap of 33 at the moment, working on that.

Not got enough money for bribes....

there are other kinds of bribes

[stuart]

Welcome back

[Captain Answer]

Been away in Bristol for ANOTHER week of revision course, and now back at home. Prospect of two exams on Monday & Tuesday next week, so I apologise in advance if I'm not on here that much.

Anyone got any tips on Business Management and Financial Reporting? (Accountancy exams )

4+4=8?

[devonutopia]

4+4=8?

Thanks

Here's a typical scenario to test your brains (and this I find "easy" as well )

"The tables division purchased a batch of rare unseasoned timber for £50,000 on 31/03/00. The timber must season for 8 years before it can be used. On 01/04/02 it sold the entire batch to Bankit Ltd for £100,000 when the market value was £250,000. The company has the option to purchase the timber on 31/03/04 for £121,000. Market forecasts show the market value of the timber is expected to markedly increase for the foreseeable future."

- Discuss the accounting treatment for the year ended 31/03/03, including calculations where appropriate, and disclosure and presentation requirements (i.e in the accounts for the year end)