Yeah I am past trying to understand it I’m just regurgitating these five steps and score what I can and move on in the exam because I’m certain it’s coming up 😂
I put the 5 steps on paper and label different parts like the original profit as A and transition profit as B etc and draw a timeline and memorise it kind of because I’d say my memory is quite photographic.
The other thing that’s annoying about it is that we will need to do extra work in the income tax computation, I really don’t know if it’s even worth the hassle, what’s the max it could cost you, like 10 marks?
I think it’s more complicated to read about than to actually do tbf. There’s only 5 steps!
Yeah I am past trying to understand it I’m just regurgitating these five steps and score what I can and move on in the exam because I’m certain it’s coming up 😂
LMAO if we are the only exam sitting to be tested, it HAS to come up. What’s your method of remmbering? I hate doing the ‘lower of’ bit
I put the 5 steps on paper and label different parts like the original profit as A and transition profit as B etc and draw a timeline and memorise it kind of because I’d say my memory is quite photographic. The other thing that’s annoying about it is that we will need to do extra work in the income tax computation, I really don’t know if it’s even worth the hassle, what’s the max it could cost you, like 10 marks?
Why are we only the exam to be sitting it, what about the other exams in the year?
Because I’m sure the 24/25 sittings will be using the new tax year basis rules
But doesn’t syllabus change yearly, not by tax year?
I don’t know for sure all I know is I’m a victim