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Dear Sonia, I study all paper myself using BPP Study Text and Workbook. I also use Opentuition video lectures for AFM, SBR, APM, SBL. I work as an auditor, thus I can only take exam at Jun, Sep and Dec.
Before every exam, I usually leave work for at least 1 week, it gave me times to write and read the solutions (I complete study text while working by reading at night and weekend, complete chapter by chapter).
I do 1 paper at a time only with 6 weeks preparation, so I think it is possible to pass a paper every 3 months. Actually, I pass AFM at Sep 2018, SBR at Dec 2018, APM at Jun 2019 and SBL at Sep 2019.
Wish this help!!!
I mean the ORIGINAL answer from the Workbook (I use BPP). It is my method for every paper, and I passed all 7 papers in two years, first attempt. Believe me, it helps. When you write down the answer, you will have the chance to carefully examine the provided solutions. Do not rush just to write them down, but write them down only when you understand them.
I watch all the lectures from Opentuition and study the Study Text. It is advised to do it in parallel so you can have deep understanding. While study the Study Text, I wrote down all knowledge that I find useful – for example models, definition, explanation… although I rarely look back at them.
After finishing the Study Text, I usually have 3-4 weeks to do the Workbook. What I do is read the questions, and write down the suggested answer whenever possible. By doing this, I can understand the subject deeper. I set the target to write at least 2-3 questions per day so in total I can do at least 50 questions for SBL.
Hope it help!
Passed first attempt with 82%. Thank you Opentuition for your precious works. You raise me up through P4, SBR, P5 and SBL.
Moreover, if i consolidate the parent’s financial statements with the consolidated financial statements of the subsidiary (including the sub-subsidiary), I found the goodwill is different from if I consolidate each separate financial statement of the subsidiary and of the sub-subsidiary.
Could you please advice what am I missing?
Really appreciate for your help.
@wangbaichuan said:
Q1 the group cash flow was ok not too hard, wish I can score a pass mark
However I think I’m wrong about the HFS classification, where the Watson can’t be HSF as it is not available for sale at present condition because of the SBP
Q2 the only challenging bit is the ifrs 16 and ias 40, in my opinion I think it’s a finance lease as the majority of risk and reward has transferred to the lessee(40 years) so can’t an investment property ,therefore overstate the profit and asset and therefore understate the gearing to protect the loan
The revenue bit was easiest one
Q3 A in analysing the NRV of different coal , I said the things related to ifrs 13 fvm ,and talked through it , don’t think it would be good
B easy
C no control here as 52%less then 72% , and I used the control criterias to talk it through, and concluded that joint venture.
Q4 management commentary , I read the articles , and I found the same qn in Kaplan kit
Tax , i only talked the things that I known
Such as the changes in tax rate is a change in accounting estimate
Deferred tax assets criterias
Deferred tax liability criterias
If anyone agree with meMost of your opinion should say for mine except Watson and 3B
For Watson, I think the fact that share options have been issued point out Watson is immediately ready for sale. Moreover, if the options holder choose to exercise then it is expected to complete in the next 12 months. But not for sure though.
– About 3B, do you think the “forward contract” play any role in this scenario? At first I think it should be treated as a financial liability but cannot remember how the impairment indication for such things and choose to treat it like a regular contract as it trading commodity.
For me 3A is really confusing, I have nothing to say about Conceptual Framework. And what should we use to calculate recoverable amount? I solely mention fair value on spot market at each year end, not sure whether forward market should be any part of it.
