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Alfyzoz – comment earlier re “fees” related to the ticket sales (in latter part of the question). This, I believe, was additional arrangement. To be honest, we could all drive ourselves nuts going back over in our minds. What’s done is done now! I pulled up at a traffic light earlier and thought, crikey …I actually recognised a contingent liability for the roof repair!! It’s the exam stress and we are all still shell-shocked, lol 🙂 2 days time or so, please God, we can forget all about it. Hoping we all get passes at least.
Hope you pass! Know what it’s like with children. Making dinner, cooking up an SOFP, doing the hoovering, then throwing in some IAS with the washing up. Please God, we all did better than anticipated.
I capitalised the roof repairs as enhancement expenditure and made a provision for it under IAS37. The cost was so material and regular (every 5 yrs), it didn’t suggest “expense”. Re football Q, wasn’t there a similiar Q a few years back and printed in the Kaplan and BPP books. The football players are effectively “licenced” I think and covered under IAS38 as intangible. Treated the matter of “fees” as potential agency income for which under IAS18 they could only recognise “commission” element thereon. I left Q1 til end and did so unnecessarily goofy stuff there in the rush. A lot of theory on this paper, no?
Think the focus is not to immediately accept the view that directors feel that no payment will be due this year based on share price. There is plenty of evidence to prove the downturn in the company’s performance. But we cant yet presume to know whether that information has been absorbed by the market yet. We aren’t told the share price. We must attempt as part as evidence gathering exercise to quantify the likely contingency based on no. of employees who exercised this option, noting the grant date as key and cost of contingency salary payment in event of realising the terms of the scheme. No? I was rushing along; may have mis-read! IFRS X or IAS19 or SSAP17 Employment Benefits.
There are crossovers between P1 and P3 so good match. P3 ok. P2 may be the priority one here. P1/3 quite do-able! Good luck with the combo.
Would have done about an hour a day but practically every day and until all online lectures were noted. Then an hour to max 1.5 hours a day to dedicate to attempting questions. Again, was finished up with this very quickly and dedicated time to other harder subjects. Attack it early so u’ve time to juggle other subjects (as gather it’s a tactical approach you’re after). A couple of weeks before the exam, re-visit your notes (even 20/30 mins a day) to reinforce.
Regarding P3 course – start as early as you can. Passed 1st time via this method (vary to suit): Look at the total no. of Open tuition podcasts relating to course. Listen to ONE (personally, used pause and take notes as going along – type as listen mode). Time the process. Calculate how long it will then take to listen and note-take all lectures. After each topic, refer to eg Kaplan Exam kit + attempt questions (bullet point style answers/check recommended answers to see if tally). I listened to all lectures periodically yet asap over poss 3 weeks (4 max). Then start exam kit ASAP and each week do as many questions as poss. Again, depending on how quickly you can move through and how confident you are, determines the total time consumed with P3. Think I had all questions tackled by say Oct/Nov and then focussed on other subjects. Leave your handling of the longer Q1 til end of course (even one day/or w/e enough). Passed with 61% this way and first time. PS: Best of luck. Exam Q exposure is key following (electronic/typed/written note taking). The exam is challenging for time mgt but again, good practice is key and the OpenTuition lectures cover everything you need to know and to be frank, are a God send! Best of luck. 🙂