[baldski]

I had the same paper too. Do you remember which option was correct in section c? I remember choosing the lease option for second question and the right issue over issue of loan notes for the first question.

[baldski]

I don’t think it is finance lease. finance lease needs the useful life to equal the lease term and should have minimal residual value. In the question it was clearly stated that the lease was recognised as an investment property which is clearly operating lease. I might be wrong but I went with operating lease.

[baldski]

Yes, i got the same paper aswell, the question about floor value absolutely threw me off. Does anyone remember the value of NPV? and for the second part of question which variables of the sensitivity analysis is the right answer?

[baldski]

Is it not material and pervasive, because the allowances will be understated and the receivables will also be affected right ?!
I wrote it is both material and pervasive, if my answer is wrong how much marks will I lose?

[baldski]

Did anyone get the question about the impact on auditors report for irrecoverable receivables and the finance director not ready to include more allowances for the same? If yes is it a material and pervasive error or just material ?

[baldski]

Did anyone get the pine and skein co question in ratios? And profit & loss single statement for the other section c question?

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