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Anonymous wrote:I did SBR. It’s my last paper and im nervous. When i think about it..half of me thinks i managed a pass and the other half is negative. Attempted all questions and hoping for the best. How about you?
I passed SBR in the last exam session. I skipped a full 12-mark question and the rest was really a mess, however I still managed to pass it at 64%. Hope my experience with this paper can give you some comfort.
arm2250 wrote:Not long to go now. If I don’t pass sbl today I don’t think I’ll pass it ever which is very scary
The same with you…I really have a strong, weird feeling that I will not pass SBL, even though I attempted every single question
Boudiou wrote:Is this forum only about analysing random emails from college and ACCA? Checking the time when the email had been sent etc… It’s ridiculous
I think we should only comment about relevant emails from ACCA not generic emails. It’s as useless as checking the time when you received a promotional email from a supermarket and thinking the supermarket only sent it to you…You read my mind. Can’t agree with you more
Waiting for my AAA and SBL exam results which are my final papers…fingers crossed (really tensed
vnetochukwu wrote:I answered same but then I realized that there was a not below specifying that the audit risk should only consider KPI in exhibit 4. Am I the only one that say it? It was the timber question too
From what I gathered from others who also did this question the meaning of that note was to remind you that the audit risks in relation to the timber plantation should be considered only regarding fair value change related to exhibit 4
vnetochukwu wrote:I answered same but then I realized that there was a not below specifying that the audit risk should only consider KPI in exhibit 4. Am I the only one that say it? It was the timber question too
I did the timber question as well but I don’t think the audit risk would relate to only KPI in the exhibit 4, because a) that 3 KPI will not carry enough marks for a 20 mark questions; b) the main body of the entire question is exhibit 3, which carries some of the most commonly seen audit risks: new client, ongoing legal case, the reduction in the value of the timber plantation (which the audit risk question specifically ask you to consider this risk), revenue trends, proposed acquisition right after the year-end that should be accounted for under IAS 10…if these commonly seen audit risk are not discussed it is literally impossible to find out enough audit risks out of the KPIs in exhibit 4.
Waiting for SBR.
I remember there was 12 marks related to sustainability reporting, still, hoping for the best. Or miracle, if it isn’t too grand a word.
It’s funny because Jan 18 is my birthday, and I’m waiting for my SBR result. Not very optimistic to be honest, but still, finger-crossed.
I’m an about-to-be PwC auditor and am planning to take AAA and SBL in March if I’m so lucky to see a “pass” the day after tomorrow. I personally think AAA or SBL would be the hardest; It is a bit ironic that I was once an AA prize winner in March 2019 then failed AAA in Dec 2019.
I’ve heard one such case. But that means you have to literally score FULL marks on whatever questions you have attempted on that paper.
I just hope if there are someone who are kind enough to assess my possibility of gaining a pass in the SBR paper T_T.
I sat the SBR exam in the Dec 2020 session and it was…I don’t know, I guess it was hard for me and it was nothing like any of the past papers, for example, only 5 marks related to group accounting, no accounting standards involved in the Q2 ethics question, etc.
When I saw Q1 I thought I might pass the exam with no problem, coz I was familiar with all 4 questions in Q1: defined benefit plan, goodwill calculation/explanation, classification between asset and business, derecognition criteria of financial assets. I ended up spending 1h15mins on Q1, but although I’m familiar with the examined topics I’m not sure how good I responded; I have a weird feeling that my answer format was not clear enough and that I haven’t 100% apply my knowledge to the case; that being said, Q1, in my view, is the best answered question of all 4 questions in the SBR paper.
But things got bad in Q2. It was the first time I see an ethics question without concerning the IFRS or IAS; after I finish the first question I didn’t really have time for question 2 and 3, although I have no idea what I should write about even if I have time, coz I don’t know how to discuss the expected life of credit cards T_T. So I simply skipped question 2 and 3 which worth a total of 8 marks in Q2. But I felt like I did some solid discussion in question 1, the ethics question.
I attempted every question in Q3, but I don’t know how well I have attempted them. Again there is that weird feeling that I didn’t fully apply my knowledge to the case, and didn’t structure my answer plan properly like it should be.
Q4 was the toughest one for me, and also the reason for my anxiety. I haven’t prepared anything related to sustainability reporting…<sigh>…so for the first question I only wrote the purposes of integrated reporting and provided some gibberish related to sustainability reporting based on my instinct and common sense…for question 2 which was entirely related to sustainability reporting, I skipped thoroughly <sigh>. For question 3 and 4 which worth a respective 6 and 7 marks in Q4, I guess I attempted them badly, partly because I didn’t have enough time – my handwriting has always been much slower than typing. Provided some brief discussion and some accounting entries – no sure if they are correct – and that’s the end.
I’ve become quite anxious and nervous about the exam result release. I haven’t passed any ACCA paper ever since I failed AAA in the Dec 2019 session. Should I be lucky enough to pass SBR, I will be sitting AAA and SBL in the March session when CBE will be launched in China. But should I fail, I will have to spend another 3-months effort in retaking it. I’ll become a full-time auditor in October this year and I just hope I can pass the exam before that time to be eligible for qualification pay.
Encaladeus wrote:There was a question about derecognition. I think that asset shouldn’t be derecognised because risks were not transferred
I remember the question said the rights to contractual cash flows were sold. But I think “sold” is not necessarily the same with “transfer” as substantially not all risks and rewads have not neen transferred and legal form of transaction does not affect accounting treatment? As in many cases in the revision kit; I ended up continuing to recognize the fixed rate loans while credited the amount of cash received as liability…?(°A°`)?
I guess that most of us here would agree this December SBR exam’s difficulty level was off the chart, in terms of question style, layouts, etc., and I too felt that profoundly especially when I’m a non-native English speaker/user. But considering the fact that the pass rate for previous SBR exams has always been around 50% without significant fluctuation, it is a reasonable estimation that around half of us here will see a “pass” in their exam result emails 1 month later, albeit a surge in difficulty; this is true even if you think you did really bad at the exam.
I’m too worrying about this exam result, but just hope to cheer you guys up.
Well I think it is correct to include the $1m in the consideration? If I remember correctly there was $3m legal costs in which $1 is directly related to share exchange which should have been included in consideration as per IFRS 3, therefore only $2m needs to be expensed.
Really? I remember reading it somewhere in the BPP kit answer that asset held for undetermined use can also be classified as investment property, which is explicitly stated in IAS 40…T_T
The third question is to discuss whether the transaction is a business combination; and the last one asked for derecognition criteria under IFRS 9
Hi, I’m in China and haven’t received the result yet. I’ve received confirmation email in November 2019 after I submitted my project, and have also received the google form on 28th February. Does anyone here have the same problem with me? So far I haven’t received anything. This is killing me TT
