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ACCA F7 Exam Question 1 Picant and Sanders (June 2010)
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assalam o alaikom guys.
siriahve a problem in software why they are deducting from net asset as wellitis intangible assesowhythey are deducting.
May I know why the answer opentuition given is different ACCA provided? ACCA answer shows assets-liabilities = 77,820, while capital & reserves = 77,820. Yet, the opentuition provided that assets-liabilities = 114,100 , while capital & reserves = 114,100. Can anyone explain this difference for me?
Good afternoon
Can you please explain me why the share exchange 3/2*8,000*75% = 9000
3/2*8,000*75% = 19,800 (share premium) was not accounted in the consolidated financial position?
This is because the introductory part of the question (line 8) stated that “Picant has RECORDED the share exchange…”.So there is no need to re-account for the share exchange
How did you arrive at the 3.8m goodwill impairment?
Could you tell me why software wasn’t deducted from working3 before deducting the pre acq retd ears? It was deducted eventually by pre acq though…..
Without looking again at my answer, the software should have been a fair value downwards adjustment of $500,000 as at date of acquisition in working W2 Goodwill
and in working W3 it should be shown as an adjusting deduction from the retained earnings as at date of acquisition
Is that not what I have done?
It is difficult to follow, could you please sort out the sound? Thank you
The written workings is behind the lecturer’s talking by aboutt 20 secs how can I allign the two together so I can follow up.
why software 500 should be deducted as F.V.adjusting?
I am looking at Jun’10 Q1 and can’t calculate Sander’s NA@reporting date to arrive to £2,400 loss as per answer. pls help
Not able to view the video, and i did not see how you accounted for the additional contingent consideration that dropped from $4.2 to $2.7. But thanks for the presentation.
@chemao, The initial consideration of 4.2m was recorded in the good will calculation as part of the cost of investment.
The 2.7m as at year end was recorded as a current liability in the CSoFP
The difference of 1.5 (4.2-2.7) was used in the consolidated retained earning calculation, it was added.
Hope that helps and that you are not confused.
fantastic! i really like it with your attractive voice.
i cant view the video
Davis
Try another browser and install flash player
I cannot view the presentation on how to plan your answers in 15 minutes based on the June 2010 F7 questions.
What do I have to do in order to watch the presentations?
Davis61
GREAT
wow.very good
I love it
Nice! as usual…….!
Great