[conlonl]

@ritaalbu said:
What did you say in Q3 – b, recognizing the provision? and indicator of impairment?
I said do not recognize the 3m provision as there is no obligation, and decline in price is an external indicator of impairment ..

Ok I’m very concerned now, my question 3 was completely different to this one, same company Fill but my question 2 included a question about how NCI should be measured, is this because I sat a uk variant or? Personally I prefer the question 3 on the website. Or did I just get a duff paper

[conlonl]

@moo123 said:
If anyone interested, SBR december exam is now added to past exams papers on ACCA website.

Question 3 is worded marginally different to the exam I sat

[conlonl]

@jamioio said:
IFRS 16 Leases states that a lease is probably a finance lease if one or more of the following apply:
1) The lease term (including any secondary periods) is for the major part of the asset’s economic life
2) At the inception of the lease, the present value of the lease payments amounts to at least substantially all of the fair value of the leased asset

Both of these were found within the scenario text.

The property could therefore be de-recognised as an asset, and re-recognised as a receivable discounted to present value.

The discounting will lower the value of non-current assets and push gearing over the allowed limit. Further, the receivable is broken into non-current and current, again affecting the gearing ratio.

I think this question is open to interpretation, perhaps the examiner will just want to see your point, and that it is well explained. I certainly appreciate the argument with regards to level 1 and 2 inputs.

Personally, I found the IFRS 13 Fair Values element to be more useful in the ethical issues part of the question.

A receivable has no impact on the gearing ratio

[conlonl]

Yes it was a daft exam in my opinion, way too much on IFRS etc, and realistically, who can remember all of them and the details in them? Moreover it’s not applicable to real life work, ive worked with some very small professionals who still need to look up a standard in order to treat a transaction in such a way, no one is expected to memorise them all ?
I read the comments from the September exam and they had a goodwill consol and cash flow question, this is what I’d expect. Today’s exam was all kings if wrong imo

[conlonl]

Thought the exam was a bit naughty tbh, bit of a disaster … no consol questions and seemed to be mainly focussed on written answers / reporting standards, not even the type of questions you could have a reasonable stab at with a moderate understanding.
Was expecting it to be tricky and hard, but genuinely scanned the exam before I started and just knew instantly that I was in trouble

[conlonl]

Can anyone remember the what the scenario mcqs were about?

[conlonl]

This is why I don’t like multiple choice, I understand that working, but technically they may not be converted and so is debt not equity, the question made no reference to ‘assume the bond holders take up their options to convert’ so for me it shouldn’t be included in a market value of equity calculation,

Anyway how about the other one I mentioned, with the inflation of 3% per year…

Also can anyone remember the topics question of mcq section b

[conlonl]

2mcq questions I remember

1 – calculating market value of equity and there some sort of shares and also convertible bonds that could be converted for 4 shares or something, I excluded the convertible shares in my calculation as until they are converted they are debt…anyone else do this?

2-share price growing at 3% for foreseeable future what is the share price or market value in 6 years, I multiplied the share price by 1.03^6 and multipliednthat by the number of shares anyone remember these 2 and do similar things?

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