[triniaccountant]

Well well…either this paper was too easy to be true or I missed out a lot of things I should have done cause I finished with 15mins to spare which I took back to question 2 cause I had run out of time for that q. I forgot the associate share of profit and couldn’t balance so “ratched” a fig. for retained earnings so that it balanced…softly chuckled to myself in the exam room cause of this. :p
“Done bun can’t be undone” so…
I am simply hoping for a pass!! 🙁

[triniaccountant]

The indirect method is more commonly examined, however, for the sake of being well prepared you should ensure you know the format of the direct method should Mr. Scott decide to humour us with the easy way out.

[triniaccountant]

@nibhiadha said:
Hi! The 230 comes from (Boo Retained Earnings) 500 less (Boo Profit for Year) 270. They have a 80% stake in Goose so 80% is taken of Goose’s Retained Earnings less Profit for the Year which is ((240 – 55) * 80%) = 148

Then the 230 is added to the 148 to get the opening retained earnings of 378.

Hope this helps! I’m not great at explaining things! Good luck tomorrow! 🙂

Thanks this realllllly helps alot! Am I to gather that in any given scenario, where the question gives no additional information, I calculate opening retained earnings in this way?

[triniaccountant]

@shirley87 said:
Do you live in UK or some where else? Can you post them to me? I’ll pay for the postage.

Thanks and hope you pass your June sittings.

Don’t live in the UK chic sorry:( but you can pay for the postage and get them…plz let me know if you’re still interested.

[triniaccountant]

Thanks again OT!!!!!!!!!!!

[triniaccountant]

I passed…with a lower % than F5 but oh so grateful! No genius here but a hard worker whose gonna nail ’em on the first go!

[triniaccountant]

OMG!!! i passed F5!!!!!! on the first go!!!!!! (Now it ain’t a stellar pass but it’s a pass higher than F6 which I was more confident about!) TY OT!!!!!!!!!!!

[triniaccountant]

Once I don’t need them for Dec you can but how will you get them?

[triniaccountant]

No there was the property’s annual value (which I now remember I didn’t include 🙁 ) then you add the MV (after 6yrs owned) -£75k) x4% (which I messed up n used 20%) <---That's additional benefit; then you add the 10% Furniture Benefit (cause that's the rate the employer gets it at)? Correct me if I'm wrong 🙁 TriniA

[triniaccountant]

This was much better than F5…though the lingering effects of frustration went into the exam with me…silly mistakes and all aside…it’s a pass for me 🙂 cause most marks are for formatting/workings not answer per se.

One thing…how do examiners expect us to be able to write so much for 3hrs back-to-back??? Writing hand started to get really tired in the exam and had to mentally PUSH myself to bear the pain and write…hope all was legible enuff! 🙂

Time for results now!
Thanks OT for all the help with F5&6 🙂

[triniaccountant]

Ok So that’s it F5 done…have F6 in the morn…truthfully the exam was quite like some parts of Mock Exam2 BPP text:/ I thought the first question part a was about relevant costing…anyone else? Couldn’t recall how to start the outsourcing question so I skipped hoping for time to get back to it never did :(. This was so stressful for me I’m not sure I want to continue till I get results…Forecasting had me going nuts…jumped to part b 🙁 the list goes on….answered parts of all the quests….hope it’s enough for a pass. :x(

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