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So challenging! SO MUCH about intangibles, it didn’t seem balanced at all.
No group consolidation, NCI, cashflows – a lot of theory not many calculations at all just a goodwill working for 5 marks.
The first question was to recognise if the following in the acquisition:
customer relationships & contracts – I didn’t include but now thinking it should have been as it stated it was measured reliably.For the manufacturing unit that was sold two months after, I put that it was a discontinued op – does that get included in the net assets on acq?
Then a retail function that was not ready to sell for 11 months so didn’t recognise as a disc. op. and included in net assets at FV.
The question then went on to say what do you do in x6 and x7. I simply just didn’t have a lot to say and then wasted so much time!
Any thoughts on the share-based payment where the employee paid for them by a loan plus interest?
UK FRS – were you supposed to impair the loan even though it was in the following year and only the interest?
Completed ran out of time for the CGU question at the end.
ARGHH not varied at all. The other version sounds a lot nicer
Yeah I think so.. I applied the learning rate and then revised the budget for planning as it was out of the production managers control
But did so badly on the pets 4 all question – just want blank.
Did you include the fixed costs for the contribution on the yoghurt one?
Quite challenging and ran out of time.
My section c questions were efficiency and rate variance. Apply the learning curve and then efficiency for planning and operational.
The second question was a full 20 marks ‘assess the performance’
I completely ran out of time and then panicked!
There was a question for limiting factor with the three products (yoghurt? Natural luxury and fruity) Did you have to include the fixed costs as it said the costs relate directly to the three products?!
Do we not all sit the same TX Exam?
I had a section C question on partnerships. The partnership purchased equipment and the partners bought cars personally which had 20/30% business use. Should these be included in the capital allowance comp for the partnership or personal?
I ran out of time for the final 15 marker on adjusting the company’s trading profit!
