[kasia]

I also gat 49 in June 🙁
I found section B harder this time.
I answered q3 and q4 and was happy to see due deligence, but then the way it was asked I am not sure I ve answered it correctly. I felt that everything I wanted to say was already included within the question.
I spent too much time on Q1 but overall i tried to put something in every part of the question but not sure if it will be enough to get me a pass.

[kasia]

Dear John,

I am sorry but I don’t understand where the $96000 came from?

I’m getting 9.6 when performing your calculation

[kasia]

Yes it does. Thank you

[kasia]

Thank you

[kasia]

Ah ok great thank you very much.

I did watch all the lectures but it’s hard to remember everything whats in them 😉

But they are great and very helpful so thank you again 🙂

[kasia]

Oh sorry Sir I thought you do.
The Atlas question is from June 13 and Quincy from dec 12 exams.

Anyway thank you for your answer. I hope what I know and learnt is still relevant as I use books until August 15.

Could you also please tell me if the calculation/ treatment of construction contract has changed? As it says on the website that IFRS15 replaces construction contracts.

[kasia]

Thank you so much Sir.

I finally get it!

[kasia]

Ah of course! So obvious now.

Thank you 🙂

[kasia]

Thank you very much 🙂

[kasia]

Hi John

Thank you for your reply.
However I was hoping for bit more ‘wordy’ explanation.

Would you be able to explain bit more, just so I could understand the logic behind interest calculation bit better and hopefully remember for future questions?

Regards

[kasia]

I totally agree.
ACCA has never been easy but now with MCQs it’s really just a joke as we can’t even gain marks for workings!
Think it’s very unfair bearing in mind how time pressured they are :/

Really gutted as it was my second attempt and I’m sure I ve failed again 🙁

[kasia]

Denis I have 10 answers same as you so hopefully we both scored at least 20 marks from MCQs.

I think the ratio question was very tough. I ve sat December exam and this time focused mostly on cash flows not ratios :/

Getting ready for f8 now

[kasia]

Yes thank you that make sense.
I was just worried that it might be some other ‘technical’ word for ‘invoiced’.

[kasia]

Mike

What does it mean ‘work certified’?

[kasia]

Makes sense.

Thank you

[kasia]

Thank you very much Mike.

Had to read it a few times but I think now I get it 🙂

[kasia]

Dear Sir,

Yes, sorry I copied it incorrectly.

Please see again.

Spring (sub) sold Parentis goods for $15 million in the post acquisition period. $5 million of these goods are included in the inventory of Parentis at 31 March 2007 (year end). The profit made by Spring on these sales was $6 million. Spring’s trade payable account ( in the records of Parentis) of $7 million does not agree with Parentis’s trade receivable account (in the records of Spring) due to cash in transit of $4 million paid by Parentis.

[Author]

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