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@garriec said:
Yea that budgeting one to do with waste collection seemed like a really random question. I too went with the landfill %age one.The weighted average no. of shares, A was the 2125000, but from what you put Andy, it doesn’t seem it was that 😀
2million x (prorate) 9/12? x bonus fraction which i think was old price, over new avg price
terp would have been 4 x 3.40 (ish?) = 13.60
1 x 2.30 2.30
TOTAL 15.90 / 5 = 3.18so 3.40/3.18 = 1.07
2million x (prorate) 9/12? [0.75] x 3.4/3.18 [1.07] = 1,605,000
250k x 3/12 [0.25] = 62,500
The numbers above are roughly what i remember, but obviously will be wrong.
The only number in the answers that was Sub 2million for weighted average was 1.9 something million ?
disclosure note : My memory is appalling. my recollection of the question and answers could be completely incorrect.
good question. but i thought it was shares acquired.
if it was shares issued, surely it would just be 3000 shares x $ price x Discount , still not 3/5 ?
Q31 is a blur to me, i was under so much time pressure,
3 invigilators ere stood around a computer next to me because it was playing up and they were all having a natter! How bloody rude – i could not concentrate so much time was wasted !
Can anyone remind me? was it a Consol of SPLOCi ? or CSOFP?
p.s. i will not be doing a CBE ever again, and i do not recommend it to anyone.
My first time and my last time. Dont Do it !MCQ’s arent even MCQs, you just have a text box to enter a correct number !! Very unfair against the paper version
@andyt said:
For the deferred con its how many shares you acquired so you don’t multiply by 3/5i dont understand why its 3/5 either.
shares acquired were 9000 and the payment per share was 1.60.
i forgot to discount it tho if you were supposed to, as it was deferred consideration.
@msarosh said:
If only they had given this paper for September attempt >.>at least someone feels confident.
Those that did a paper exam – were you required to calculate and write down any exact numbers as your answer in Section A and B.
Or were they all simply multiple choice ?
So the answer was NCI and Retained earnings only ? i chose this answer.
Can anyone confirm?My reasoning…..
W2
inv val
nci val
xFV os SNA @ DOA
sh
ret ears
x = g/wGW in then impaired (parents share) in W3
&
nci’s share is impared in W4@farhantahir786 said:
Standard workings – Impairment goes into NCIs P&L, retained earnings of parent, NCI in the SFP, etc. It’s listed like that in Kaplans working pro-formas.So the answer was NCI and Retained earnings only ? i chose this answer.
Can anyone confirm?My reasoning…..
W2
@johanndamato said:
GeorgeWhat do u mean after 9/12? intragroup before acq was 500 per month so these need to be deducted as they dont accrue evenly throghout d year they relate solely to revenue generated pre acq. then u apportion d rest Is my reasoning wrong?
One of the questions, Q1 or Q3, wasn’t there a time apportionment of 8/12 on the consol due to acquiring subsidiary part way through the year ?
@theimaginarynumber said:
@accastudent1986 Except they’ve stopped publishing past papers now and pretty soon what remains will be out-of-date!Can we all put a request in – updated revision lecture for more recent ‘past papers’ ?
Not forgetting the fact that this is all free, but for some people this is all we really use and it would be fantastic to have some updated.
Im sure most of us using this website would pay for the privilege if it was necessary.
@pator said:
After 9/12, because all amount was in full during this period.I thought it was – Acquision at 1st march and accounts were to 31st October.
All of MAMJJASO – 8 months ? 8/12 ?
aacastudent1986 – i completely mirror your comments.
Especially after focusing on Consolidated SOFP, Construction Contracts, and CashFlow, to find that NONE of these came up in the exam – i was shocked and spend the 15 mins reading time and following 15 mins pinching myself, am i dreaming ??
And to find that CSOCIE came up twice, Q1 and Q3….. this took me by surprise also.
Complete disaster here also. Expecting 30 if im lucky. Im pretty sure i will be resitting in March – If anyone wants to Study Buddy – Drop me a message
🙁
# self review – checking own work
# self interest – fees
# potential intimidation – if work not complete within 2 weeks and client may pile on pressure
# allowing juniors to carry out the work is not ethical, if you know they will not posses relevant skills/experience to carry out the audit correctly
# providing other serviceswould the ‘allowing juniors’ – answer be correct ?
and i am very very very annoyed about last part of Q5. it was sooooooooo easy – at least 6 to 8 marks of 12 mark question i missed out on, because of POOR TIME MANAGEMENT ! 🙁
I am praying for a pass, god willing.
and isnt the higher fees thing related to Self Interest threat? (in your interest to complete the audit with unqualfication due to higher fees and repeat custom ) ?
Advocacy is promoting the company ie.shares or representing in court.
@elikem – if opening balances were grossly misstated, IE more than 0.5%-1% of Revenue, 1%-2% Assets, 5%-10% profits – then wont the whole FS be materially misstated as this level of mistatement would follow through to the end of the yr ?
<cite> @s4k1b said:</cite>
failed with 48 🙁this was my first attempt. i was confident of a pass and now im very disheartened by this. argh
