*** December 2022 ACCA FR exam – Instant Poll and comments ***

most the questions about consolidated financial statement , Events after the reporting date and earning per share , one of B questions was Events after the reporting date and almost 5 question in A also adjusting and non adjusting event , even the interpretation question i had to adjust pervious year before calculating ratios .
I’ve got almost 6 questions regarding how to calculate the investment when we calculate the goodwill or just investment even in question C .

a lot of important area was not covered in the Exam , like tangible non current asset , revenue , lease , financial instrument
this is 3 rd time i take this Exam it was strange collection of questions

Had that one, did not like much of that exam..

There were quite a lot of consolidated group related questions

@mwills7 I got that one as well.

I credited the assets back to their original cost
Debited depreciation into operating expenses – difference between what acc. dep. would’ve been if there was no revaluation to the acc. dep. at the SFP date after revaluation. Only on the building though as land doesn’t depreciate.
Debited the revaluation surplus the difference to clear it off, ultimately affecting equity.

Adjusted equity, OPEX & the assets accordingly.

Not sure if I did the right thing or not to be honest as it threw me off a little bit but hopefully someone can cross-reference my logic

I did the same as you on this question @udoihonor. Depreciated the building as if it was at cost over the period & added the difference between the depreciation at cost and at revaluation to opex. I deducted the property reval from equity and also the diff in deprecation as it said they had opted to adjust for that in RE. No idea if I got the double entry right. ?

I also got consolidated p&l with 3 subs and a disposal part way through the period on the other q – which was tricky!

Haha I too picked Lime

Did anyone get the pine and skein co question in ratios? And profit & loss single statement for the other section c question?

@sooha thank God I’m not alone. We’re fine then haha.

Well I have realised how much Ive forgotten about the way I answered after reading all of this. It was the section C of a CSPL for a parent with two subsidiaries, one of which disposed of half way through the year, that really annoys me. There are no examples I can find of this online. I treated the CSPL for just the subsidiary Sourdough and used the discontinued operations line for Dijon.
I removed the full year intergroup trading from Revenue and Cost of Sales, then added back the PUP for the amount remaining in inventory in Cost of Sales.

I think I lucked out in some ways because I really covered consolidated accounts near the exam but Im still worried Ive come out feeling okay and I could have gotten too many wrong.

+1
I got the same paper, and i felt very weird because of the combination of questions
Do your remember the consolidated sec a questions ? Most of it was goodwill calculation right…i don’t remember if we had to take NCI anywhere was there any questions like that or was it just the consideration calculation with cash, shares and deferred consideration…

I too took the difference but i am unable to recollect if i added or subtracted it:/
What about the questions in sec a about goodwill investment, there was this one which had 70000, shares at acquisition it was $2 but at 2018 it was 3 something do you remember which option you clicked? Like whether 1,2,3,4?

@sreevarshini , for Good will investment i used at the acquisition share ,because goodwill i
believe we should calculated what ever we get at acquisition the the difference with reporting date go to the calculation of profit of something , what about you ?