[amandamcfadden]

Thank you Open Tuition! I passed my first P level paper through self study with you guys…67%! I can’t believe it!

Thank you so much!

[amandamcfadden]

My first professional level paper..and what a disaster it was!
Q1a – I did classify the 100% sub however I showed it as part of CA and not on its own. I did calculate a gain on the sub that they held but did not recognize as I thought goodwill can not be subsequently measured, only impaired so made a guess on that! The share options – I couldn’t figure out where the year 1 figure came from in the Q. I thought it would be 10k x 200 x the fv at the grant date??
1B – I came to the conclusion that it was ok to classify as held for sale
1C – I messed up and babbled on about applying accounting policies to the one class and ethics

Q2&3 – So difficult! Glad it was not just me! I really messed up! The lease calculations were ok and I got the 30 and 33 gearing as well. Foreign currency rate I had no idea and since read that there are special rules for hyperinflation currencies but that was not on our syllabus right??? Revenue – I recognized the cash and deferred income based on the most probable outcome – no discounting?? Messed up the others as well!! Maybe better luck in June for me!

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