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My hero, thank you! I am so under prepared for this exam due to work commitments it’s unreal!
Doing my hardest though!
Thank you Sir!
Yes agreed. It was difficult with the finance lease but did say nothing recorded so you had to add the new lease to the existing obligations.
My SFP didn’t agree by 500k but hey ho. Managed to write them all out and even do lease obligations <1 year and >1 year so happy days. Second sitting with failing the first one by 1% with 49% in June!
Fingers crossed this time for both my F7 & F8 ??
Agreed. It was £3,000 CREDIT to P&L.
I checked 3/4 times but was worth it for easy marks!
Sir I am also struggling to understand example three… I understand the workings but I do not understand the theory behind it.
Why are we only allowing for 600,000 of the shares? The 600,000 being £12M divided by the mid-market price and then that is the difference of the original share capital?
I have read over the question and looked at the answer but can’t seem to understand or get the logic… What am I missing?
You beauty! I do remember this from your lectures but thank you for the reminder!
Have yourself a super jolly weekend Mike!
@Chloe you too. Are you UK based? What exams do you have left? 🙂
Thank you for your responses. I shall download this today and get practicing for the December 2015 exam.
I look forward to picking your brains extremely soon 🙂
I am really struggling to understand why everyone is so caught up on the multiple choice questions…. What is done is done and cannot be changed. Enjoy your time off from studying until the results are published… surely?
I am confused… how is there a September sitting? I thought the three monthly exam sitting wasn’t taking effect until 2016?
I agree…. there was no way you could work this out. I spent a good 10/15 minutes trying to work this out.
The figure of £85,000 which included the new assets purchased within the year. You just couldn’t work it out. Was weird.
As mentioned above and also by so many others, this paper was a complete pain in the butt and not very nicely worded!
I am with you on this one… I got through the paper ok actually (multiple choice was hard) I got to question three and I poo’ed myself! I couldn’t work out the depreciation to start off with. The wording of the question was very strange, I tried to do the Profit or loss and then I attempted the changes in equity to try to gain some valuable marks but like the majority of the people on this forum, I think it shall be a re-take unfortunately.
You my friend are a legend. I didn’t look at the revaluation from your first post as it was 2200hrs here in the UK.
But thank you for your guidance. I shall be sure to keep a beedy eye out 🙂
Revaluation 🙁
Thank you Mike.
I shall look to smash this one over the weekend.
Thank you and enjoy your weekend!
Many thanks, Chris.
I shall have “another” look tomorrow.
Thank you Mike you beauty!
Good night and god bless!
Hi Mike,
me again…. I omitted the Principle of EPS in my readings (I told you It has been a long day) so I now understand why we used the 760 as this was the result from the earliest possible date?
But…. I have just tried to re-do Q3 again and I am still coming stuck…. It’s probably something small that will make it work but I just don’t seem to be getting it.
Would you be able to kindly explain it in possible another way so I can get it into me fick bwain!
Thank you again Mike and I appreciate your time.
P.S – Where are you located, I notice from one of your earlier lectures you mentioned you were no longer in the UK.
Thank you and have a great day.
B.W Chris.
Kevin Pietersen… I have to say you are the first Mike.. I have been mistaken for someone from Il Divo… But that’s really it.
I shall take it at as a compliment nonetheless 🙂
And also, why do we use the worse case scenario in question 4 but we select the 760 shares rather than the 740 shares…..
I am sorry Mike…. 🙁
Answer are not normally posted for the exams until the day of the results… or the day just after!
Will just have to wait until results day… No point in stressing about it now kids!
Agree with your thoughts on the first question. Think i got trading profit of like £8040 or something like that but i used your method of using the first four months and then the remaining eight months of the full next year.
Q5… The CLT was exempt from using the £325K exemption as it was before 7 years so irrelevant. The cash gift however reduced the band to about £125K (rough figure) the remainder of the estate was taxed at 40%.
Felt it was an ok paper. A bit better than Performance management but you never really know!
