*** ACCA F7 December 2016 Exam was.. Instant Poll and comments ***

I took an hour to do 10 multiple choice questions. They were tough but i ended up in the end finishing. phew!!!!!!! i say i could pull at least 25 in q 31 n 32 but the muliple choice is what i worried about

@andyt said:
I can’t remember the final figure for goodwill,

It was something like;

Shares = 15000 x 60% x 3/5 x $7 =37800
Def Consideration =15000 x 60% x (Insert figure!?) ANYONE REMEMBER WHAT THIS WAS?
NCI FV = 15000 x 40% x $2 = 12000

Less Net assets = 43800

SC = 15000
RE = 23000 + 1600 = 24600
FV PPE = 4000
FV Inventory = 200

Yes I got this but the deferred consideration had to x 1/1.08 to find the present value

First was C, protection against litigation. The Americans do it all the time because they are on a rules based system.

With the land and buildings one you should not have depreciated the land. Cant remember the question exactly but remember that at some point only the land increased in value (i think)

@beryozka2005 said:
I thought so. Im dreading for cbe become compulsory, its so hard, when you are not able to see everything you do in front of you

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

I don’t think you’ll have a choice – aren’t they all going to be CBE eventually??

That 3 rd mcq with requirements of land and building depreciation had 4 options i do remember 3
A) 555000
B) 840,000
C) 870,000

Well i circled A not sure dahell i did.

you did same what i felt?

Hi all, I completely feel like I messed up section A but section B was okay. Does anyone remember what figure they put for NCL when it came to the convertible loan as at 1 April. I remember mine was something alone the lines of 18440? Also, i selected option 2 for the first question of events after the reporting period. When it came to IRFS 5 did anyone use the Carrying among as the answer?

I’m not sure that rule would impact the question there as we aren’t measuring inventory. The cost of the products will be 10% higher so COS will go up.

If they gave us an inventory figure to deduct from purchases that might be relevant though

same 🙂

Hi all, I found the exam mixed. Section a was really hard but like a lot of people I got lots of c’s and a few b’s, hardly any d’s. Apart from the 2 convertible loan questions in section B, the rest seemed OK. I’m really worried about section c, I don’t think I accounted for the deferred consideration correctly. I also included inventory at fair value which I don’t think is correct. For the second part of section c, the think the majority of answers to part a may be wrong, will that automatically mean the rest of my answers are rendered wrong? Also do you get carried forward marking? Thanks!

I messed up on my financial ratios question- should have planned first before writing. The questions were ok (provided I don’t make any careless mistakes). The only MCQ I was unsure of was the last question on research and development. “If successful, company will manufacture the machine” and “Manufacturing and testing prototype” = that’s still in research phase since they’re only working on a prototype, right? It’s either C or D

@s4k1b said:
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 ?

The number of shares they issued was 5400 (3 for every 5 acquired from the sub)

Don’t worry tho, I think you were right the first time (1.62 per share acquired)