Deficit – NBC Institute

FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

Question

You are a senior accounting officer in Chidinma Ventures Plc. The chief accountant of the company has requested you to explain to some newly recruited trainee accountants, the requirements of IAS 16 as regards the revaluation of non-current assets and accounting treatment of surpluses and deficits on revaluation as well as gains and losses on disposal of assets.

Required:
Explain the transactions as required by the chief accountant.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deficit, Disposal, Gains, IAS 16, Losses, Revaluation, Surplus
Level: Level 2

Topic: Property, Plant, and Equipment (IAS 16)
Series: MAY 2019

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

Question

The excess of expenditure over income in a Not-for-Profit organization is:
A. Accumulated fund
B. Working capital
C. Deficit
D. Surplus
E. Accruals

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deficit, Expenditure, Not-for-profit
Level: Level 1

Topic: Accounts of Not-for-Profit Entities
Series: MAY 2016

FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

Question

Required:
Explain the transactions as required by the chief accountant.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deficit, Disposal, Gains, IAS 16, Losses, Revaluation, Surplus
Level: Level 2

Topic: Property, Plant, and Equipment (IAS 16)
Series: MAY 2019

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

Question

The excess of expenditure over income in a Not-for-Profit organization is:
A. Accumulated fund
B. Working capital
C. Deficit
D. Surplus
E. Accruals

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deficit, Expenditure, Not-for-profit
Level: Level 1

Topic: Accounts of Not-for-Profit Entities
Series: MAY 2016

Question Tag: Deficit

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FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

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FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

You're reporting an error for "FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)"

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

You're reporting an error for "FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities"

FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)

Explanation of revaluation of non-current assets and accounting treatment of revaluation surplus/deficit and gains/losses on disposal.

You're reporting an error for "FR – May 2019 – L2 – Q4b – Property, Plant, and Equipment (IAS 16)"

FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities

A question on identifying the excess of expenditure over income in a not-for-profit organization.

You're reporting an error for "FA – May 2016 – L1 – SA – Q13 – Accounts of Not-for-Profit Entities"

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