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*** ACCA F7 June 2017 Exam was.. Instant Poll and comments ***

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › *** ACCA F7 June 2017 Exam was.. Instant Poll and comments ***

  • This topic has 197 replies, 52 voices, and was last updated 5 years ago by kalyanramesh01.
Viewing 30 posts - 1 through 30 (of 198 total)
1 2 3 … 5 6 7 →
  • Author
    Posts
  • June 6, 2017 at 11:33 am #390806
    opentuition_team
    Keymaster
    • Topics: 1152
    • Replies: 1366
    • ☆☆☆☆☆

    Please vote in our Instant Polls about the ACCA F7 June 2017 Exam


    Post your comments about the ACCA F7 exam below

    June 6, 2017 at 3:51 pm #390914
    sarmadtahirabbasi
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    For Me,
    Exam was Okay
    Section A was piece of cake
    Section B was a bit tricky
    And Section C
    Oh boy! Never seen anything like it before

    June 6, 2017 at 3:57 pm #390915
    Kerri
    Member
    • Topics: 2
    • Replies: 15
    • ☆

    I found Section C Q32 with the P&L, SOCIE & Cash Flows a little too simple – like I’ve missed loads of things out? All the practice questions/examples I have seen have been a lot more complex with more/trickier adjustments. Seems too good to be true!

    June 6, 2017 at 4:00 pm #390919
    kathyatk2
    Member
    • Topics: 1
    • Replies: 7
    • ☆

    I agree Kerri, I hate it when things are too simple. It usually means I’ve misread the question!!

    June 6, 2017 at 4:04 pm #390922
    surajnair
    Member
    • Topics: 0
    • Replies: 42
    • ☆

    @kerrimcm1 said:
    I found Section C Q32 with the P&L, SOCIE & Cash Flows a little too simple – like I’ve missed loads of things out? All the practice questions/examples I have seen have been a lot more complex with more/trickier adjustments. Seems too good to be true!

    Did you get a negative profit? excluding other income?

    June 6, 2017 at 4:10 pm #390924
    shahin87
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    I think exam was probably hard for everyone. Section B and C Ratios were ok. Anyone got loss in Section C question 32(single entity)?

    June 6, 2017 at 4:11 pm #390925
    sarmadtahirabbasi
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    I got 200 profit on disposal for subsidiary.
    I highly doubt I got the right answer

    June 6, 2017 at 4:13 pm #390929
    Kerri
    Member
    • Topics: 2
    • Replies: 15
    • ☆

    I had a profit of 300 for Q32 and then OCI of circa 3200
    But feel like I have missed things as it seemed too simple !!

    June 6, 2017 at 4:16 pm #390931
    tmavfc93
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    I’m really not sure how I felt about this.

    Section A was alright, so was B but I am not sure about C at all. First part of Q31 (4 marks) was not nice for me personally but really hoping I managed to claw some marks back through the second and third part.

    I found Q32 ok but there was a few things I may have classified incorrectly. Hoping for at least half!

    June 6, 2017 at 4:40 pm #390942
    Kerri
    Member
    • Topics: 2
    • Replies: 15
    • ☆

    @tmavfc93 said:
    I’m really not sure how I felt about this.

    Section A was alright, so was B but I am not sure about C at all. First part of Q31 (4 marks) was not nice for me personally but really hoping I managed to claw some marks back through the second and third part.

    I found Q32 ok but there was a few things I may have classified incorrectly. Hoping for at least half!

    For Q32, what items did you include on the cash flow extracts?

    June 6, 2017 at 4:49 pm #390945
    tmavfc93
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    I didn’t do that part as it was only 3 marks and there were a few MCQs I wasn’t 100% sure about first time so I went back to those instead. My timing still needs to be better!

    June 6, 2017 at 4:50 pm #390946
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    The paper was fair but the revenue question 1 200/0.20 = 6000 – 4000 = 2000 profit x % completion was wack!

    June 6, 2017 at 4:53 pm #390949
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    added to ytd expenses less $1m invoicing to get Asset..

    June 6, 2017 at 4:57 pm #390951
    ilona
    Member
    • Topics: 0
    • Replies: 25
    • ☆

    Diluted earnings per share was 0.46

    June 6, 2017 at 4:58 pm #390952
    kathyatk2
    Member
    • Topics: 1
    • Replies: 7
    • ☆

    I did operating activities – add back depreciation and remove gain
    Financing activities – added loan notes and removed removed issue costs and something else – can’t remember as all a bit of a blur now lol

    June 6, 2017 at 5:03 pm #390953
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    So glad it was the only EPS question LOL!

    June 6, 2017 at 5:05 pm #390954
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    No long question on Consolidations.. spent so much time on it and Associates

    June 6, 2017 at 5:11 pm #390958
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    F7 concepts are not difficult.. the challenges are: the syllabus is very wide + limited time in exam …

    June 6, 2017 at 5:12 pm #390959
    sharansondh
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    Anyone remember what they put down for their mcq’s answers ?

    June 6, 2017 at 5:12 pm #390960
    chally
    Member
    • Topics: 9
    • Replies: 69
    • ☆☆

    Main issue was with Section C Q31Ratio.
    You had to remove 3month of subsidiaries result from the consolidated profit and loss for the year 20X4 right?

    June 6, 2017 at 5:18 pm #390962
    ilona
    Member
    • Topics: 0
    • Replies: 25
    • ☆

    Enhancing characteristic: comparability ?

    June 6, 2017 at 5:32 pm #390977
    thandolwenkosimoyo
    Member
    • Topics: 5
    • Replies: 42
    • ☆

    1. The change is required by IFRS OR

    2. The change will result in a more appropriate presentation of events or transactions in the financial statements of an entity, providing more reliable and RELEVANT information

    Relevance = materiality

    June 6, 2017 at 5:46 pm #390982
    feroz
    Member
    • Topics: 2
    • Replies: 15
    • ☆

    Section c – main complications

    Interest in tb on the loan notes was at the lower amount so we had to deduct it and add in the correct rate interest by multiplying by the net proceeds of the issue. Investments in tb included 200 gain which you has to split out and report under other comp income as it stated in the question but 100 related to other increments which was to be reported after operating profit. The issue costs of the loan notes were charged to admin exps which had to be recharged to finance costs I believe. The 3.5m gain on properly gave rise to excess dep’n which was to be charged to cost of sales. The net figure was to be reported in other comp income as the gain. In statement of equity excess dep’n transfer was required.

    June 6, 2017 at 5:46 pm #390983
    Charan
    Member
    • Topics: 1
    • Replies: 26
    • ☆

    What did you guys do with the new inventory figures in Q32?

    June 6, 2017 at 5:48 pm #390984
    jmrm
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    I faced timing issue, I spend lot of time in understanding questions. Sec A & B were easy. Q31 I spend some times to understand a) question.

    June 6, 2017 at 5:52 pm #390986
    Charan
    Member
    • Topics: 1
    • Replies: 26
    • ☆

    And in Q31 how do you separate profit of the disposed subsidiary from the rest

    June 6, 2017 at 5:59 pm #390994
    alvy
    Member
    • Topics: 0
    • Replies: 4
    • ☆

    …

    June 6, 2017 at 6:11 pm #391002
    svetlana1
    Member
    • Topics: 0
    • Replies: 2
    • ☆

    The exam was hard, a few fairly straight questions but the majority of MCQs were quite tricky, no as straight forward as they seemed. C section was not easy, I really hoped that consolidation would come up!
    In Q31 I do not think you had to dedcuct the subs results.

    June 6, 2017 at 6:28 pm #391011
    paulwilliams100
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    I didn’t split out the results of the subsidiary because it didn’t say anything about the loss occurring evenly/not, nor when the goodwill was written down.

    I did talk about it quite a lot though and how it may have effected things, also brought in how the gearing had been lowered.

    For the profit/loss on disposal I worked out a profit of c800k (I think). I worked out the goodwill at acquisition, then did the value of the subsiduary at acquisition as what it cost, took off half the goodwill for the impairment, added the revaluation and took off the post acquisition loss. That came up with a figure about 800k below the £9m they got for it I think.

    Not entirely confident that was right but we will see.

    June 6, 2017 at 6:34 pm #391015
    paulwilliams100
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    I found the revenue part of section B the trickiest I think.

    I thought it went quite well at the time but as I read though these posts I start to get worried!

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