[korala]

Hi. You should not miss any queation and should manage the time. All the required questions should be answered. It is a must to get a pass unless you are 100% sure that what you answere will give more than 50. ( Which is very rare)

[korala]

@aown123 said:
We acquired the company on 1st April 2017 and the liability was paid off on 31 May 2018. It is more than 12 months so we are not gonna make any adjustment. Since they have recognised the contingent liability before acquisation at 10 m and at acquisation it was 5 m so we will take 5m gain while calculating net assets at acquisation and at year end . For IAS 37 question i wrote that since the lawyers believe that the claim will not be successful and the amount was not reliably measureable we will just give thr disclosure in financial statements. Forgot to adjust the part sold at year end. Hope to get pass because paper was straight forward. In sha Allah

This is correct. It is a disclosure only any no current obligation

[korala]

I went through Dino’s presentation twice with the Study Tex for details if required. Read some past papers and answers (5 to 6 papers). During the exam ensure that you you attempt the allocated questions. If you do so you can get upto 25 marks easily. Apply the content in the case when you answer to justify. I did not mention theory in my answers. Time management is critical. Specially 50 marks question. This is self study.

[korala]

got through with 63. Two weeks study. Ensure that those who fail, attempt all the required questions and manage the time.

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