[rachelmin]

Nor did I! Sorry completely obessing as it’s my last exam

[rachelmin]

…. were the accounts for Fiona ( foreign) suppose to be done on a split year basis?

[rachelmin]

I read it as the amortisation was not taxed deducted in the accounts – ie ) it would have been added back i the accounts for tax purposes. It’s very annoying because the questions really aren’t structured in an easy to read way that you can actually understand what’s going on. And it’s so time pressed it’s hard to write down all these assumptions

But it’s just four marks!! I’m painfully optimistic all those this is decreasing by the minute

[rachelmin]

Yes you could be completely right I didn’t clock the new warehouse was only used 30% business related. I wish we could take a look at the questions … but then I would just be ob be obsessing even more…

[rachelmin]

Not sure if this is right but I apportioned the gain for the time is was used in business and said this can be transferred as rollover relief. It should be offset against the warehouse as the FACTORY B would be treated as a sale of no gain no loss and lowering the base cost even more could lead to a high regrouping hchsrge if they separate so better held against the warehouse purchase

joannao wrote:Anyone know to solve the question with Factory A, B, warehouse and this rollover relief?

[rachelmin]

For those that has the paper with Q1 being liquidation
How did you calculate the gain and loss of the intangible assets?
I just did sale- cost and ignored amortisation.

Also with the gift to Hugo. I gave the uk house and said the loss from the forge in house would be a useful loss to offset against her death estate or other income.

Also working out the gift to Nori of the laptop was he just a share holder or an employee?

Really keen to know what others put.

[rachelmin]

Can anyone remember What the last question was on.
Share schemes/ letting relief and ppt but can Remember section 3

[rachelmin]

How did everyone find it?

I am still really confused on the gift to Hugo,.. can you transfer a Foreign property loss to the U.K.?

[rachelmin]

I did the UK paper which was

NFP KPI
league tables

ABM

Benchmarking

I found the sums for the activity based costing question really simple, just apportion the costs based on the ratios provided. I’m not used to APM being straightforward…have I missed something…

For the benchmarking question it asked about occupancy and supplied it as a % but the question stayed it was calculated by KPM * MILES TRAVELED. which didn’t make sense how they got a %

I just stayed different strategies
They were looking to remove seats ( therefore reduce occupancy)
They did shorter flights so would need to fill the plane twice
waffled abit as tan low on time on this question.

[rachelmin]

That was the paper!’ Do you have a copy of the answers aswell?

[rachelmin]

Thats what I got

[rachelmin]

I am pretty sure I got this for q1

Section A-

Q1) I got this as the rectification entry
Dr G/W 2
Dr Land 5
Cr Liab 4
Cr NCI 3

Q2&3) Was Ok – About significant influence and Associate disposal Got a Gain of Something

Q4) It is a business as it had an Input and Process

Q5) I wrote the bond should not be derecognized as they still have risk and reward and they should record the amount received as Financial Liability.

Please don’t say everything is wrong!!!!!! I will end up with 0 then

[rachelmin]

Has any one got ideas on the bond question? I was convinced I’d seen a similar question but can’t see where? I waffles about recognising loss through OCI not through profit or loss as saying this will be reversed when if we purchase the bonds back, but it’s not a disposal as we still have some of the risks and rewRds involved. However we can’t provision for the risks as the market could go up or down ( like treatment of a derivative )

[rachelmin]

How did you do Q2 I had no idea

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