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F7 and F8 together isn’t a bad option, and it isn’t hard either. If you still feel you can’t do them together, go for F8 and F9 just to balance the theory and calculation part of your studies. F8 is 100% theory, F7 and F9 are a mixture. So go for F8 and F9 now, and probably F7 and P1 the next time, remember P1 is also a approx. 100% theory paper.
A failure in any paper doesn’t affect your BSc. degree. Your average will be calculated on the papers when you pass them, so don’t worry.
Click on the name of the member you want to add as a friend, when his/her profile opens you will have two ‘red’ tabs ADD AS FRIEND and MENTION USER. Just click on ADD AS FRIEND and you are done. Ofcourse the person you add as your friend will have to confirm you as a friend.
Here are the two links, you can find past papers here from 2002:
https://www2.accaglobal.com/students/acca/exams/f4/past_papers
There have been a lot of complaints against the courses of the particular institution you are mentioning. Before investing in such courses just google them to find out their quality.
Yes, you have to do the calculations, they all carry marks. Inflating each year can carry separate marks say 0.5mark for each. Check out the marking schemes of past papers.
Oh no! not really. To answer some of those you need to research and read about the topic more than what is required by you at this level. If you can solve the past papers then its good enough.
Here’s the link
https://opentuition.com/acca/p3/acca-p3-exam-analysis/I’ll tell you the method I used. First read the first and the last paragraph of the scenario, so you develop an understanding what the scenario is all about. Then go on to read the question requirements. In the question look for key words like internal, external, business process etc. These key words will give you an idea of what model you may be needed to apply. Then read the whole scenario and answer the questions.
Apart from this I can’t think of any hint to solve the scenarios except for practice!
4 Million is in inventory, which means that is the price the buyer paid for, the selling price, and the question clearly says 5% of the selling price 🙂
If the question said something like “Systan has a 5% markup on the goods it sells” then your calculation would have been correctHey,
First you calculate the goodwill in the direct subsidiary using the full goodwill method, which is $8000 and therefore its impairment will be 10% i.e. $800.
Then you calculate the goodwill in the indirect subsidiary.
I use a slight different way than that used in the solution
Cost of investment= 80,000*80%(Parent’s share in ‘Dimitrys’)= $64000
Share of net asset= ($70,000 + $48,000)*48% (effective share in Viltalis)= $56,640
Goodwill= $64,000-$56,640= $7,360
Therefore its 10% will be $736
So the total goodwill will be $800+$736= $1536The post acquisition profit will be for only the two months, rest will be pre acquisition. You will need to pro rate the figures of the profit of the year i.e 2/12
Hey,
Repairs, renovation, decoration, redecoration are all revenue expenses and are allowed to be deducted.
Lets add some figures to your question to make it more understandable. Suppose the subsidiary sold goods costing $100,000 for $120,000 to the parent and 50% of those goods are still in the books of the parent (are unsold by the parent). The parent holds 60% shares of the subsidiary.
So in the SOCI the figures of revenue and cost of sales will be reduced by 120,000. Then the cost of sales will be added back by the URP which in this case will be 10,000, so overall the cost of sales will reduce by 110,000.
Now in the SOFP, the CRE and NCI will be debited by the URP according to thier share and the Inventory will be credited:
Dr. CRE 6,000
Dr. NCI 4,000
Cr. Inventory 10,000Hi,
This is because the additional depreciation is for 6 years, from Jan 20X0 when it was acquired to the reporting date which is Dec 20X5When the dividend is received the parent records it by:
Dr. Bank
Cr. Investment in AssociateThe logic behind crediting the investment in associate is that the net assets of the associate decrease when it pays out dividends(dividends are paid out from profits).
So the parent debits investment in associate with its share of profit because its a increase in the net assets, and credits dividend because its a decrease in net assets.Yes, it is a asset because the value of the Plan Asset value is higher than the obligation.
Just use the per-forma for calculations and you will be just fine 🙂
Hey,
No, you are not right with your entries. The question says unrecognized losses, and unrecognized gains or losses do not appear in the financial statements (only in disclosures), therefore they cant be recognized in the SCI.
Now for your question of why has the 4m been added to the asset value. This is because the asset value which is 25m has some unrecognized losses incorporated in it (FV of Plan Asset – PV of Obligation. When these are calculated the balancing figures is the gain/loss). So you add back the unrecognized loss figure.
Remember this per-forma for calculation purposes:PV of Obligation XXX
(-)FV of Plan Asset (XXX)=(Asset)/Liablity (XXX) / XXX
+/- Unrecog. gains/(losses) XXX / (XXX)=Disclosed in SFP (Asset)/Liablity (XXX) / XXX
I am using FTC for F9, and finding it pretty good.
The choice of FTC or BPP depends on you, which style of writing do you prefer.
FTC has 19 chapters and the 20th is Q&AYou do nothing if the fair value of inventories is greater than its book value. If this inventory had been written down previously then you will credit the figure by which they were written down.
But again you say they have been sold at the year end and you mention “CSOFP”Can you rephrase your question, do u mean the inventories have been sold inter-group?
If yes, the inventories will be still valued at their book values.I used BPP study text for all 3 of them. But i used both the kits ftc and bpp 🙂
Tips on how to study. Well, read through the chapters and solve the kits. Pretty simple 🙂
