I just discovered your channel and I love it. It’s amazing tool for someone who’s studying to become CPA. This help my comprehension of the ASPE/IFRS standards and give me confidence. I learn so much with your channel. Accounting standards are not easy but you make it simple and accurate to understand. Thank you. From Montreal, Canada.
Thank you so much for the support and kind words! Hope to keep on making great videos for everyone! Let me know if there's any specific topic you want me to cover! Good luck in your CPA process! If you feel that my videos can help someone else in their studies, please feel free to forward it to them!
In the last example, the buyer should record the transaction at Exchange amount - like you said. The Building should have been debited $500,000(not $200,00) Cash should have been credited $200,000 and the difference of $300,000 should go to P/L as Gain?
thanks so much you are wonderful, and I like the way you are able to trnasfer knowledge in a simplify way. I will share you channel with my classmate. if you have time, please consider one review similar to this for EPS AO (basic and dilutive) . especially the calc portion of it I feel not strong some how :(. I plan to write CFE in May. thank you
I believe that for case 1, "ownership" does not mean interest in companies, but ownership of the item in question. It only matters if there are more than two owners of the two related parties. For example, W was 40% owned by A and 60% by B, but E is 60% owned by A and 40% owned by B, and they traded the truck - The % of ownership of the truck will change from being 40% owned by A to being 60% owned by A. This is also the case for B going from 60% to 40% ownership. Do CMIIW.
Your explanation is super clear, thank you!
I just discovered your channel and I love it. It’s amazing tool for someone who’s studying to become CPA. This help my comprehension of the ASPE/IFRS standards and give me confidence. I learn so much with your channel. Accounting standards are not easy but you make it simple and accurate to understand. Thank you. From Montreal, Canada.
Thank you so much for the support and kind words! Hope to keep on making great videos for everyone! Let me know if there's any specific topic you want me to cover! Good luck in your CPA process! If you feel that my videos can help someone else in their studies, please feel free to forward it to them!
In the last example, the buyer should record the transaction at Exchange amount - like you said. The Building should have been debited $500,000(not $200,00) Cash should have been credited $200,000 and the difference of $300,000 should go to P/L as Gain?
thanks so much you are wonderful, and I like the way you are able to trnasfer knowledge in a simplify way. I will share you channel with my classmate. if you have time, please consider one review similar to this for EPS AO (basic and dilutive) . especially the calc portion of it I feel not strong some how :(. I plan to write CFE in May. thank you
I believe that for case 1, "ownership" does not mean interest in companies, but ownership of the item in question. It only matters if there are more than two owners of the two related parties. For example, W was 40% owned by A and 60% by B, but E is 60% owned by A and 40% owned by B, and they traded the truck - The % of ownership of the truck will change from being 40% owned by A to being 60% owned by A. This is also the case for B going from 60% to 40% ownership. Do CMIIW.
Thank you so much... this is super helpful.
No problem, really glad you found this helpful!! Let me know what other topics you want!
@@ShumzCPA would appreciate if you can make video on income tax of IFR... I feel like I need some examples 😭.
What about leases between related parties?
first
Yup, was waiting for you to comment :)
10th like
Thanks for the support!