[kitse]

passed with 71%. was expecting this to be my highest mark yet with something in the range of 85-95%.

thank you John. Thanks open Tuition

[kitse]

thanks

i am reading through the Kaplan Text (sept 2016-june 2017).
Chapter 4: page 138-139

if i understand your reasoning then the keywords are
“assuming that the constraint cannot be relaxed, should the new product be manufactured?”
because otherwise,there would be no need
“to incorporate the contribution lost elsewhere by REALLOCATING scarce resources, the product is not viable”
since more labour can be hired and materials bought in

[kitse]

first ACCA paper, first attempt, scored 82% but i could have done better had it not been for the last question. the nerves and the clock got the better of me…

this will be my lowest mark…

[kitse]

i thought the exam was very easy. finished Questions 1-31 and still had 1h30 mins left. Question 32 was tricky in that i took a long time torn between a shallow interpretation or a thoughtful one- ended up going with a more detailed recalculation of the Financial Statement figures for Revenue and especially COS.

With regards question 31, i ddnt include inventory increase in the calculation for Goodwill. i ignored that note because IAS 2 Inventories would mean that we use the lower of COST and NRV in which case $800 was the lower. also even though the calculation of Goodwill requires the use of FVs of the Subsidiary at the DOA, inventory is not to be valued at FVs because that would be akin to recognising profits prematurely or so i reasoned…

PS: very proud of myself for the work and learning i put in in the last 2 weeks.

[kitse]

is that not option 2 then, ie split the subsequent gain between SPL(up to the limit of the previous impairment) and SOCI

im not sure i follow the last point you made. please provided an example

thank you

[kitse]

let me chew on it for a bit longer. i am sure something will click.

Again, many thanks

[kitse]

in the consolidated SPL and consolidated SFP,

-if when selling/transferring goods within the group, we have to account for PUPs and overvalued inventory, and

-if when selling/transferring PPE within the group, we have to account for PUPs and FV depreciation, then why not

-if when we are selling/transferring cash within the group

i do agree that for the individual FS of the P and S, the finance cost and the finance income are genuine expenses/income but in the Consolidated FS, they would have to go

again, i apologise for still not getting it.

[kitse]

what i would have thought to be the effect of the loan interest is, in the CSPL the loan interest is to be deducted from the group investment income and the group finance costs. the part of the profits attributable to the NCI would need to be adjusted.

and in the CSFP, the consolidated retained earnings and nci would need to be adjusted as well:
1. if P is the lender, and thus received interest
DR retained earnings of P
CR retained earnings of S and share them betwen P(cons RE) and NCI

2 if P is the borrower, and thus paid interest
CR retained earnings of P
DR retained earnings of S and share them betwen P(cons RE) and NCI

what am i missing?

[Author]

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