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@hyechi
i calculated share exchange consideration as 75% of 15000/2 since 1 for 2 share exchange + share premium 24000 from parent reporting equity section
And did u get diferred consideration in fraction number as 75% of 15000*1.2/1.1= 12272.27
@tonyja said: @hyechi i calculated share exchange consideration as 75% of 15000/2 since 1 for 2 share exchange + share premium 24000 from parent reporting equity section And did u get diferred consideration in fraction number as 75% of 15000*1.2/1.1= 12272.27I couldn’t get the share for share exchange as I didn’t know how to do it without the question telling me. I’ll have to learn that for P2! Overall I was like 30000 out on my balance sheet without goodwill. Did you adjust for intra sales on Trade receivables & payables? Or did you leave it? I only adjusted for URP
I had a lot of C's in mcqs.did someone find the same?
I took CBE exam section a was disaster section b and C was OK but in section C consolidation sum I got difference of 20440 and I got goodwill negative. If anyone wrote CBE and had got consolidation sum can u just let me know that did they give share exchange value under cost consideration of goodwill out of cash , share and deferred consideration I felt only deferred was given wat about u guys ???
For the CBE, an extra 5 min is not enough to answer 5 extra section A questions.
Its takes 5 min to fill out the answer booklet at the end for the paper exam, whereas an extra 5 section A questions takes substantially longer. If the seeded questions are at the start and you get them wrong your mind-set can be ruined from the start also!
I found the content of section A very hard, section b fine and section C fine as well... however I ran out of time in section C and left 20 marks behind :(
September beckons.
@jjacca said: For the CBE, an extra 5 min is not enough to answer 5 extra section A questions. Its takes 5 min to fill out the answer booklet at the end for the paper exam, whereas an extra 5 section A questions takes substantially longer. If the seeded questions are at the start and you get them wrong your mind-set can be ruined from the start also! I found the content of section A very hard, section b fine and section C fine as well... however I ran out of time in section C and left 20 marks behind :( September beckons.Yup.. you are absolutely right bro.. Even here in bahrain there's gonna be only CBE from sept onwards.. moreover I'm not used to computer and my typing speed is way slow. And doing these 5 seeded questions in CBE is just waste of time :(
@shaonan said: I didn’t do anything with Intra TR and TP either . ?OK - it was confusing whether to do something or not with those but glad it wasn't just me who didn't do anything :) Fingers crossed! I think my passing now will depend on sections A and B!
8y ago#38Did anyone get any of the following in Q's in the MCQ & OT CBE section A & B:
1) Capitalisation a purchase Domain Name
2) Capitalisation of a prototype
3) Revaluation of Land by 50k with deferred tax of 78k
4) Interest Free Credit being a substantial credit agreement
In addition, do you consolidate the revaluation surplus of both parent and sub and if so, does any go to NCI
@westham1 said: Did anyone get any of the following in Q's in the MCQ & OT CBE section A & B: 1) Capitalisation a purchase Domain Name 2) Capitalisation of a prototype 3) Revaluation of Land by 50k with deferred tax of 78k 4) Interest Free Credit being a substantial credit agreement In addition, do you consolidate the revaluation surplus of both parent and sub and if so, does any go to NCIHi, I got the prototype and the substantial interest agreement questions. I picked to capitalise the manufacturing costs of the prototype as a development cost. The substantial interest I was terribly unsure..I think I picked the first option but can't remember what it said. Did anyone by any chance get these questions: - NCI and also the Revaluation surplus amount - Carrying amount of the CGU - Whether to disclose the lawsuit, pick the highest outcome or expected value?
The funny/not so funny part of comparing section A & B answers is that 5 questions will not count as they would be the seeded questions. Could be good if one gets them wrong as they won't count but then again would be a waste of time (in my opinion) if one gets them right..
8y ago#41Yes, but still good for understanding and for future reference\use
8y ago#42Yes I got the NCI & revaluation amount MCQ - Consolidated the full Reval Surplus to Group and applied only NCI @ FV and share of RE (i.e. no reval surplus to NCI) - not sure if correct though, more than likely not
I have the worst experience with ACCA this session...
AVOID - kensington and chelsea college in London for your exam!
Exam was almost an hour late. They didn't allow us to wait near reception and moved us outside. It was really chilly, and I came to the exam with really bad cold...
When finally we were sat in the room, they let us know that this room gets really hot, therefore they opened windows, though it might be A BIT noisy...
When we started the exam, I realised which NOISE they were talking about - there is a construction just next to the college and railways in front of the windows... Plus lots of students outside having fun, laughing and signing.
Everyone in the class was so angry, so they handed out earplugs... It was still so hot in the room and earplugs caused even more headache and tbh did not help much.
Very distressing experience! I think it's very disrespectful considering how much money we pay to sit an exam...
I really couldn't concentrate in this environment. Very disappointed.
8y ago#44Another MCQ springs to mind on the matter of Subsidiary\associate where you had to select which is which out of
55% of ordinary shares (Choose Sub)
45% of ordinary shares (choose Assoc)
45% and all other holders hold less than 1% (choose Assoc)
and another option (Choose Assoc)
rral He
8y ago#46?
8y ago#47amusikhi: Do email the ACCA and inform them of the problems. They might take it into account in the marking, but even if they don't it may help make sure that others do not suffer the same problems in the future.
took the exam in Leicester UK CBE got the question on cheese. overall section A and B were very hard and section C was relatively good. Managed to get consolidation to balance. Took share exchange as investment in sub from parent account as said it had been correctly accounted for. Also made adj for profit on inventory as it said current balances were cleared so recievables and payables were correct but profit still needed to be removed from inventory?
'In addition, do you consolidate the revaluation surplus of both parent and sub and if so, does any go to NCI'
there was no revaluation surplus. changes in fair value get accounted for in RE and the counter effect is the change in value on the asset/liability. Mayybe the equity investment has a revaluation reserve but thats it
@shaonan said: Hey I got section C consolidated statement balanced too. Took the number from investment in S as share consideration too Was your goodwill number the same as cash consideration ? Also what is your total asset number ?
@shaonan
is the value of investment given in the parent sofp. i didnt find. If that was so my total aaset was wrong. but equity+ liabity was as something like 18o____. is it so
hi i also did the cbe with luxury cheese in dublin, just wondering how they allocate the marks in that question, they give out 14 marks for the analysis part, would it be 2 marks for valid point or 1 mark for valid point?
im worried i didnt write enough, wrote about 3 longish sized paragraphs.
also i think the only part i got wrong in the goodwill and ret earnings calculation was the deferred consideration, i got confused by the multiple decimal consideration being part of it so i stupidly panicked and just took 10% from the consideration (i think 10% of 13500). would i still get marks for other workings in ret earnings and goodwill?
also how did other others manage the contingent liabilty? that had me confused too
8y ago#53Does anyone remember any of the mcq’s from the cbe?
Yeh I remember equity+liability being something like 18o____. Contingent liability I accounted for but I think you have to pay attention to when it was, either at acquisition or after?? For ratio questions you get a mark for each pair of ratios correct, so one mark for X6 and X5. + marks are available generously for commenting on each additional point in the question so the additional contracts won etc etc aslong as it makes sense you get a mark
there was a contingent liability in point 2, that the company provided 800,000 in first year but now it may be 1.2m or something like that.i just left it out as i thought it wasnt a valid provision. never seen a point like that in a practice consolidation!
do you think there is 14 marks for 14 valid points made, seems like a lot of points to make?
my conclusion was that the company could grow if they made a share issue instead of more loan issues
section a and b were pretty hard too i agree, so many questions had me in two minds with the wording of the questions, annoying part is i cant remember many of them specifically to check them!
@snell123 said: Does anyone remember any of the mcq’s from the cbe?I was hoping to be able to discuss alot of the multiple choice answers with others but alot the questions are randomly allocated aren't they? But hopefully there will be some shared ones amongst us. My mind has gone a bit blank but did anyone have some of these: - Borrowing costs - was asked when should borrowing costs be capitalised - from when various costs to prepare the land/warehouse for building were incurred (9 months) or from when the warehouse was physically built (9 months)? Loan was in place before both events. - True/false question about intangible assets being permitted for revaluation or being banned - Physical capital maintenance question which provided selling price, opening cost and closing cost - A section A question with 3 project scenarios for development costs asking for total expenses charge to SPL from all 3 projects. I calculated two of the projects fine but one of them I kept getting a strange number based on the time apportioning (5/12) for that project. Did anyone get the correct answer for this. I had no questions at all in any section on EPS, financial instruments, cash flows, foreign currency - some of my strongest areas! :(. Its meant to be randomised but my MCQ experience was heavily focused on consolidation extracts (which I'm good with too) and alot of the smaller standards (which I'm okay with memory wise).
I had the same question in my cbe but the question was not "if is nci IS valued at fv" rather it was "If nci IS NOT valued at fv which of the following will not be affected...."
@mohdafzal said: Yes. You are right mostly. but this question was surely not in my exam. Did you give CBE or PAPER based? Mine was paper based.
8y ago#58Ok, if nci is not valued at FV, then what is not effected?
Share capital
Goodwill
Retained earnings
Nci
8y ago#59Yes I had theses questions:
Physical maintenance mcq was : cost 8 at start of year, valued at 12 at end of year when units sold for 15. Inflation at 10%. What was the profit
I put the 620,000
For the borrowing costs, wasn’t it how much went to p&l? Included depreciation and got 5,500,500
Are you sure about tge 620000. I wrote tgat but i have a feeling tge correct ans is 550000
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