Recent content by Audit Geek

For example the student loan debt is classed as an asset… But the student debt is an obligation to pay the government from outside, and not to itself. It also generates repayments which will reduce its size, especially if the threshold beyond which ex-students have to start repaying it gets frozen.

Chat GPT thinks using this kind of revaluation of a subsidiary to bolster a parent company’s profits (if the dividends paid to shareholders in excess of group consolidated profits did come out of this gain), ) is not permissible under International Financial Reporting Standards — In the UK...