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

No you do need to multiply ‘share price/ TERP’ to the number of shares for ALL relevant periods before the rights issue. I forgot what the purpose was for. To restate prior period EPS it’ll be TERP/share price

Terp is weighted average share was easy

It was a rights issue so they issued the shares at a lower price so we needed to multiply the shares with the bonus fraction. They had given the TERP already so we didnt need to calculate that. So it was 2m * 9/12 * MP/TERP + 2.5m * 3/12

I got 2.3m something which was option A i think. The only extra information they had given was the profit which isnt needed to calculate the shares

i thought the exam was very easy. finished Questions 1-31 and still had 1h30 mins left. Question 32 was tricky in that i took a long time torn between a shallow interpretation or a thoughtful one- ended up going with a more detailed recalculation of the Financial Statement figures for Revenue and especially COS.

With regards question 31, i ddnt include inventory increase in the calculation for Goodwill. i ignored that note because IAS 2 Inventories would mean that we use the lower of COST and NRV in which case $800 was the lower. also even though the calculation of Goodwill requires the use of FVs of the Subsidiary at the DOA, inventory is not to be valued at FVs because that would be akin to recognising profits prematurely or so i reasoned…

PS: very proud of myself for the work and learning i put in in the last 2 weeks.

It was a tough paper. I know all the questions but applying the answers required some serious thought process. And you don’t have the time to think out anything in 3 hrs to complete.
They need to stop making the answers so close to each other also.
Acca must make things so difficult

It was fair

got it

@leannenhe said:
Hello, anyone remember the question about the amount of customer list that should be included in consolidated financial statements? I can only recall $0 as one of the options.

Also, for the IAS 10 question about difference in accounting policy used by parent and subsidiary, is the answer about carrying PPE at cost model and revaluation model?

Thank you so much.

I chose the same answers as you. Wasnt sure about the second one though

It was a very fare and average paper , a well prepared student could have a pass mark but i left out 8 marks un-attempted hey.

Hi, im sorry for the way you feel regarding your CBE F5 paper. highlight how other sections on the CBE exam was. From what i can understand the section A answer section was a box where you fill up actual answer without any multiple choice option. How about the objective test questions and others…
Kindly detail as much as you can as im evaluating whether or not to take CBE for paper F7.

Thanks