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Exam was ok but came away feeling disappointed. The questions didnt give you lots of extra stuff to include from the scenario so felt like i was just repeating myself.
Also question on defined pension benefit but said ignore competence etc of the expert and all other items had been confirmed by the audit team. How was you supposed to squeeze 7 marks out of that. (Had, audit risk, trade receivables, ethics for Q1)Exam was ok but came away feeling disappointed. The questions didnt give you lots of extra stuff to include from the scenario so felt like i was just repeating myself.
Also question on defined pension benefit but said ignore competence etc of the expert and all other items had been confirmed by the audit team. How was you supposed to squeeze 7 marks out of that. (Had, audit risk, trade receivables, ethics for Q1)Had the same exam as you and answered that similarly. Said that because it was a patent that was legal protection of a very specific thing that couldn’t be sold in an active market
Pension question i wrote about how the things that happened affected the balance on the SOFP and how the pension asset will be subject to deferred tax and the acid ceiling testIn those ratios i think the parent company owned 100% of the subsidary if i remember right so there would be no NCI