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If part A of a question is related to procedures on intangible assets and part B of a question is related to PPE, and I used a very similar point within both parts relating to obtaining sufficient and appropriate evidence for their useful lives and related depreciation/amortization, would I still be able to get a point for both answers or would I be penalized for repeating a similar point?
Like parts A and B in this question, for example:
https://stories.accaglobal.com/audit-and-assurance-aa/question-2/index.html
That’s an excellent Q!
Short answer is you won’t be “penalised” – there is no negative marking, so marks won’t be deducted – you just won’t get any credit for the repetition.
Exams are carefully constructed to examine the syllabus – which is extensive. So if you think you are repeating the same point, you should be re-reading the requirement/scenario carefully, to see if you are missing something.
The example you have given – Gooseberry – is an excellent Q to illustrate the point.
Details in the scenario were clearly headed ‘Research and development’, ‘Depreciation’ and ‘Bonus’. Part (a) prompts this with ‘in relation to GOOSEBERRY Co’s research and development expenditure’ … i.e. not “any old R&D” and (b) with “in relation to the MATTERS IDENTIFIED regarding
depreciation …’So for 5 marks for each part the examiner/marker is looking for very specific and relevant points.
I recommend that when you have finished your attempt of Gooseberry you go through the debrief of answers to this Q in the “Read the mind of an AA marker” article, which you will find here https://www.accaglobal.com/uk/en/student/exam-support-resources/fundamentals-exams-study-resources/f8/exam-technique.html
Hi Kim, thank you for taking the time to answer my question!
Of course, your answers have to be specifically related to the scenario. In the case of Gooseberry’s R&D expenditure you can definitely make a relevant point about recalculating the amortization charge to substantiate the valuation of the intangible assets, and in fact this is one of the model answers in the “suggested solution”.
In the case of substantive procedures relating to Gooseberry’s depreciation, one of the suggested model answers describes recalculating the depreciation charge, so again, that is definitely a relevant point that can be made.
I was just wondering whether the examiner would see both those answers, give a full mark for the point about amortization, but then not give a full mark for the point about depreciation because it’s too similar.
Honestly though, now that I’ve typed this out and thought about it, I’m thinking they would probably give a full mark for both points, because despite their superficial similarity they are both relevant points specific to the scenario. I hope I’m right!
Then again, perhaps to be safe it’s better to just make a different point if I can come up with five!
Thanks again for your time tutor Kim.
“Recalculate …” but both are very specific, so definitely 1 mark each:
Recalculate the amortisation charge for a sample of intangible assets …. and confirm it is in line with the amortisation policy … and that amortisation only commenced from the point of production.
Select a sample of PPE and recalculate the depreciation charge to ensure that the non-current assets register is correct and ensure that new depreciation rates have been appropriately applied.
Yes, so the key is to just customize it specifically for the question.
Thanks for clearing this up. OT are the best!
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