Less than 20% of accountants know the correct entry for the disposal of an asset, especially when the asset is not fully depreciated or a partial disposal.
@_BamBam001 Transfer profit
Dr Disposal A/c 100
Cr profit or loss A/c 100
Well i don't knw if this is accurate too
But this is how i think it should be treated & i am not even joking 🥲
@_BamBam001 Well Maybe
But i guess it sounds complicated coz it involves not only 2 accounts
Cr Asset 1500
Dr Disposal A/c 1500
Dr Accumulated Dep A/c 1100
Cr Disposal A/c 1100 (Automatically showing the carrying amount at this stage )
Dr Bank/Cash/Receivables 500
Cr Disposal A/c 500
The ICAN exam is not designed to prove that you didn’t read it’s designed to test whether you can think under pressure, apply knowledge, and stay composed when questions are unfamiliar.
Most people walk out of the exam hall feeling like they suddenly forgot everything, even after months of preparation. That feeling is common because professional exams are structured to push your understanding beyond memorization.
The months of reading are not useless. They are what allow you to:
recognize concepts even when questions are twisted,
attempt unfamiliar scenarios logically,
manage time better,
and pick up marks even when you’re unsure.
If preparation truly meant nothing, everyone would pass or fail randomly. But consistent preparation still gives candidates a huge advantage.
Sometimes the real battle in ICAN is not just knowledge it’s confidence under pressure.
And I fear that Allah may punish me for a sin
by depriving me of the Fajr prayer.
So do not think that you wake up for it by your own will rather, it is Allah choosing you because He loves you.
Glad tidings to you, O people of Fajr.
May Allah keep us and you steadfast upon it.