[anisa786]

68%….First attempt…Thanks to the Almighty and to OT for all the free resources….after 4 long years now an ACCA affiliate:)

[anisa786]

LOL, that’s funny…..anyways I did but I got no reply. Was wondering if any other students are having similar issues

But thanks for the sarcastic reply…much appreciated

[anisa786]

BPP but I haven’t had much time to study due to work stress….I feel like I’m already failing this paper sadly:(

[anisa786]

Thanks John for all your help..been really struggling with P4 prep

[anisa786]

Also interested pls advise

[anisa786]

Thank you.

Hope I will get through it….because going through the text book is not helping. Will start with revision kit today…is it too late though? I was thoroughly prepared for all my other papers in the previous years….

[anisa786]

Is the format different from other papers like P1 P2 and P3 where we have one case study and then answer 2 out of 3

Is the time sufficient then to answer 4 questions?

Sorry for my stupid question – I will be attempting P7 in June and have not yet started studying. What are the most important things I have to worry about here?

Thanks Mike!

[anisa786]

thanks both

[anisa786]

Under discursive for bpp it says linked accounting adjustments what are we referring to here

Like adman I also think p/l will come up although I’m crossing fingers for cas flows

[anisa786]

Sales proceeds=fv recognize profit/loss immediately

Sales proceeds < fv recognize profit/ loss immediately

Sales proceeds > fv defer and amortize over lease term

[anisa786]

Fin liab at amortized cost initially measured at fair value less transaction costs
Fin liab at fvtpl initially measured at fv and transaction costs expensed in p/l
Fin asset through Oci fv plus transaction costs
Fin asset thru p/l transaction cost expensed

[anisa786]

Thanks mike

Can anyone else help me…thanks

[anisa786]

Thanks mike…..my apologies….just that I was busy doing the questions and reviewing the solutions and things I didn’t understand I posted and would have forgotten to come back to it if I didn’t get n immediate reply

Thanks for all your assistance

[anisa786]

Its correct – basically have to look at if risks and rewards have been retained or not.

Thanks

[anisa786]

Thanks alot Mike….makes perfect sense:)

[anisa786]

Thanks bilal for ur speedy response

Makes sense

[anisa786]

Thanks mike:)

[anisa786]

Thanks mike

[anisa786]

If we get a tent structure with a foreign subsidiary what are some of the easy marks we could accumulate in the exam. It’s quite easy to get confused in a consolidation question especially since you under pressure

[anisa786]

Thanks Mike

Just one more question on this. Say for eg your total impairment calculation is 100 and of the 100, 80 is for goodwill. Therefore the entire 80 gets allocated to retained earnings.

The other 20 may relate to impairment of PPE (sometimes stated in the question). If you are calculating goodwill on the proportionate or full method, will this 20 still be split between parent and NCI? As these methods only apply to goodwill. Am I right?

[anisa786]

I just get really confused – in some questions they use the total equity figure as net assets and then adjust for FV adjustments. In other questions they use either the total assets or liabilities figure and then adjust for FV adjustments (this is for the carrying amount of assets before adding the goodwill amount).

Please advise urgently

[anisa786]

As in study group…..sure anisamahomed@ymail.com

[anisa786]

Thanks…….

In the Clare finch book students guide to IFRS it says that you need to subtract the acquisition.i guess the key is to look at when you acquired the entity

[anisa786]

Hi Mike

I see that cash flows is a hot topic for P2. Please can you advise where exactly are the easy marks in a consolidated cash flow statement.

I always start by setting out the format and by including opening and closing bank balance and then working out the difference to get the net cash flow movement. I dont even bother to add as my cash flows generally do not balance. I then start trolling through P/L and SOFP to see what needs to be added or subtracted and for every line item on the SOFP to do a T account to obtain any sort of movements and working through the additional notes in the question methodically

I do get most of the calculations incorrect (that’s if the note is a bit tricky) but generally some of the amounts included are correct

Please help

Thanks

[anisa786]

maybe we should start forming one

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