*** ACCA F7 June 2018 Exam was.. Instant Poll and comments ***

@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 ?

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

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

@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).

Ok, if nci is not valued at FV, then what is not effected?

Share capital
Goodwill
Retained earnings
Nci

Are you sure about tge 620000. I wrote tgat but i have a feeling tge correct ans is 550000

@mohdafzal said:
Overall … My paper based exam was kind of okay..

I was tested on final accounts with an adjustment on short term leases..
But it mentioned that it was 5 years .. so how is that supposed to be short term..
And anyways i didnt know hw it would affect the balance sheet and profit..

Interpretations was also confusing..
Since i was not getting points on how to comment on performance.. they had provided very less info

MCQ were good (as far as those options were available for which i think are correct)

Just hoping to pass..

How it was for you all guyzz??

MCQ were good (as far as those options were available for which i think are correct)
Section C is disaster for me

Just hoping to pass..

How it was for you all guyzz??

This exam paper was okay. It gave a fair chance at success to anyone who was excellently prepared as well as those not excellently, but sufficiently prepared nevertheless.