Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › *** ACCA Paper SBR June 2019 Exam was.. Instant Poll and comments ***
- This topic has 52 replies, 34 voices, and was last updated 5 years ago by luckyono.
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- June 6, 2019 at 10:59 am #519298June 6, 2019 at 1:13 pm #519338
What was question 4 like?
June 6, 2019 at 1:36 pm #519341It was all about accounting policies, differences between policy and estimate and how adopting different IFRSs gives rise to inconsistencies and how this affects the users
June 6, 2019 at 1:37 pm #519342Definitely unusual questions but some were quite straightforward. First question asked in effect of TCI from part disposal which was quite odd I thought! But all in all, could be better could be worse!
June 6, 2019 at 1:47 pm #519345If anyone remembers Could you please write down the questions?
June 6, 2019 at 1:51 pm #519346Agree, some odd questions and some normal ones! For The odd ones the scenario kinda helped. Q1 was a full disposal, no? As lost control and went to singnificant influence (equity accounting)
June 6, 2019 at 1:59 pm #519348Thought the total comprehensive income in Q1 through me off completely.
Question 2 and 3 were OK for me.
Question 4 was hard.
Think I will be resitting and it was my last exam 🙁
June 6, 2019 at 2:13 pm #519351Very difficult exam, question 4 especially. I’d say the worst ACCA paper I’ve ever sat. See you in September SBR
June 6, 2019 at 2:22 pm #519353It was fairly difficult but I was generally happy with questions 2 and 3. Really struggled with #4. Question 1 was tricky especially part a. I think I may have scraped a pass. Fingers crossed
June 6, 2019 at 2:27 pm #519357In Q4 what was the presentation currency? Either I completely missed it or they never mentioned?
June 6, 2019 at 2:28 pm #519358Much like the consensus, difficult paper. Questions 2 and 3 were the best in the paper. But even on aspects of that I wasn’t too sure. Anyone know whether you have to disclose the sales to suppliers?
Also, I had no idea what to do on that lease question
June 6, 2019 at 2:31 pm #519359AnonymousInactive- Topics: 0
- Replies: 5
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Q1
– Dividend impact on parent and consolidated financial statements
– Disposal of investment held at cost in parents accounts
– Disposal of investment impact on consolidated financial statements with a FV adjustment required on original acquisition (5 and a half years depreciation) + an impairment
– Deferred tax on URP and tax asset recognition i.e. non-reoccurring items and previous taxable profits
– Lease whose value changes over the lease term???
Q2
– Share based payment, non- disclosure of RPT and operating segments (absolute profit to be used to determine if a reportable segment)
Q3
– Change in accounting policies and estimates + how to account for new IFFSs and how transitional rules can lead to inconsistencies
– Impairment calculation including a bit of FV highest and best use
Q4
– FX gains and losses (OCI and P+L) explanation type question and how measurement is not taken into account on subsidiary consolidation in relation to FX. FX loan transaction + FX URPThat’s what I can remember ????
June 6, 2019 at 2:37 pm #519361Thank you. What is deal with the dividend?
June 6, 2019 at 2:39 pm #519362Thank you
June 6, 2019 at 2:44 pm #519365AnonymousInactive- Topics: 0
- Replies: 5
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I think it was to recognize the dividend at 70% in the parents accounts and then only recognise an increase in the NCI in the consolidated accounts i.e. 30%… but not sure!
June 6, 2019 at 2:50 pm #519367For the dividend treatment can anyone explain the right treatment?
For what I did was under parent statement of TCI, I accounted for income from dividend received of (4m x 0.7) whereas in the consolidated tci, I stated that inter co dividend will be eliminated and only account for the expense of dividend paid to NCI (4m x 0.3)
June 6, 2019 at 3:40 pm #519376I recognised 4 M in TCI of parent considering 4 M was paid 4 M to parent…Is it right.. Second, I recognised the gain on disposal of subsidiary as profit from discontinued operations…will it be the right treatment in consolidated FS..
June 6, 2019 at 3:42 pm #519377But 4 M as an investment income in TCI of subsidiary
June 6, 2019 at 4:36 pm #519387Hey! Did u guys add cash flow after 5 years to calculate Value in use?? I think we just add till 5 years. Did i mess it up there??
And i screwed the operating segment. Company was getting listed not listed so operating segment would not apply
Last question on foreign currency was devised difficult.. Rest of the paper quite straightforward.. It was so predictable ifrs 2 and ifrs 13 and ias 36 would be examined and they did.
June 6, 2019 at 4:40 pm #519389I had no time left for the last question. I just scanned it and it looked so much fishy..so i just focused on the rest of the questions first and never had time to see what the loan in it was all about
Well examiner always adds 15 toughest marks to get and it was in that question.
June 6, 2019 at 4:47 pm #519391Just a question for all. Seeing a few people saying they went ahead and did the impairment review…but the requirement only said that the directors want to know how to determine the fair value so they can do the impairment test? I thought the numbers for VIU were a trick as we weren’t asked to find the recoverable amount only the FV right? I quoted highest and best use but said it couldnt be applied due to lack of planning permission?
June 6, 2019 at 4:49 pm #519392@nikaido said:
Hey! Did u guys add cash flow after 5 years to calculate Value in use?? I think we just add till 5 years. Did i mess it up there??And i screwed the operating segment. Company was getting listed not listed so operating segment would not apply
Last question on foreign currency was devised difficult.. Rest of the paper quite straightforward.. It was so predictable ifrs 2 and ifrs 13 and ias 36 would be examined and they did.
I added the PV of Cash flow too. I think my impairment charge was something like 1.3m.
For the operating segment, we were commenting on what to do at YE September 2016, which is the date they became listed. Thus, operating segments do apply to them.
June 6, 2019 at 4:56 pm #519393@kbourne said:
Just a question for all. Seeing a few people saying they went ahead and did the impairment review…but the requirement only said that the directors want to know how to determine the fair value so they can do the impairment test? I thought the numbers for VIU were a trick as we weren’t asked to find the recoverable amount only the FV right? I quoted highest and best use but said it couldnt be applied due to lack of planning permission?that’s what I did too.. ?
June 6, 2019 at 4:57 pm #519394discussed IFRS 13.. as that was the q.. don’t think it asked for a calc?
June 6, 2019 at 5:00 pm #519395I show dividend income of 4*0.7=2.8 in individual statment of comprehensive income of stayman and in consolodated finacials i ignore 2.8m as intra grouo transaction and only acocuntwd of only 1.2m as NCI share.. I record gain on disposal of subsidiary in individual financials and in consolidated finacials and also a share of profit frok associate for the last 6 month thatis is (18/12*6)*40%
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