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@joelkirkland said:
I am very confused, in my Kaplan study text on page 544 it quotes “In the F7 exam, a 20 mark group accounts preparation question will not include disposals of subsidiaries” However a 20 mark question included a disposal of a subsidiary within group accounts. Anyone else got this question? Thinking of complaining to Kaplan.i got this question too, and i read the same thing in my kaplan textbook, i was under the impression that there would be disposals only in section A or B..
@erika21 said:
I remember a question for a parent considering to acquire a subsidiary and we had to choose which information would not be relevant for them. I chose: key employees and directors.For the impairment, I do not remember what I picked up, but for sure was not the one saying impairment review every year.
ACCA website says different :
‘A company must assess at each balance sheet date whether an asset is impaired. Even if there is no indication of any impairment, certain assets should be tested for impairment, for example, an intangible asset that has an indefinite useful life.’Didnt the question specifically ask you to not consider the loss/gain on exchange rate
One of the questions had something like this….
If I own 45% of the shares in the company and all other shareholders own 1% each, am I the parent?
its bugging me???
i didnt get that question in my exman but the answer to that question is no because its still below 50% if it stated that parent owned 45% and the rest owned 5% then it would be parent otherwise its associate 🙂
Surely the answer depends on the ability to control, i.e. dominant influence and is not based on a numerical proportion. So it is possible to be the parent with less than 50%.
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Me neither !
I didn’t know you could still do paper based
Problems of ratio – was manipulation one or was it historic ?
What else do I remember.
Question 2 I guessed on completelyQuestion 1 – I think it was about having a rigid structure or something like that
No proper consolidated question. A big surprise
For interest cover I used profit after taxes which I think might be wrong now
As far as analysis for ratio, 9 marks a lot and there wasn’t much to say , in my opinion. I think gross profit margin was similar with or without Swanson. Operating expenses went down without it.
Ratio question – was one of the problems manipulation or was it historic ?
One in five issue. Does that mean 4000 extra shares. I didn’t use the premium account
What was the answer to question ‘what are potential problems with ratio analysis’
And is there any way of knowing which Mcq were the ‘red herrings’? Is it the easy onesHi i had exchange rate question. People wake up there are always different tests
Hello all,
Am new to the qualification. Can you suggest whether i should take CBE or paper based for F7? Which will save time and be easier@deepashruthir said:
Hello all,
Am new to the qualification. Can you suggest whether i should take CBE or paper based for F7? Which will save time and be easierIn Ireland, there is no choice… CBE only
this was my first computer exam and i was apprehensive.. but i like it more.. why waste your time writing and in my case the examiner might struggle to read my handwriting@deepashruthir said:
Hello all,
Am new to the qualification. Can you suggest whether i should take CBE or paper based for F7? Which will save time and be easierI vote for CBE, you can save lots of time this way, and lesser chance to make silly mistakes with the calculations if you use the spread sheet functionality, and easier to make corrections…that all is about the two long questions
for the MCQ part doesn’t really matter if its a paper or CBE….can anyone tell me what is the question on 31 and 32
.I mean which chapter.. bcz I am going to seat this paper on june…..in my version we had
Q31 Subsidiary disposal a) to remove the effect of the disposal from consolidated STPL (it was mid year disposal) – for smth like 8 points or so…
b) to calculate three ratios (i think it was GPM, net profit margin and interest cover) based on the new STPL (of the parent as a single entity) – for 3 points
c) to compare these 3 ratios to the same ones based on the parent’s single STPL for the previous year..- for 9 points, i think…@dipta3308 said:
can anyone tell me what is the question on 31 and 32
.I mean which chapter.. bcz I am going to seat this paper on june…..and Q32 was about single entity- from trial balance we had to prepare a) STPL, b) statement for changes in equity and c) STFP
I did a cbe exam.
I remember a few questions from it.
One was about performance obligations, whether or not it was satisfied over time or at a point in time. Also asked you to calculate what was to go in p&l.
I had a question involving a government grant and an asset. How much deferred income should there be.
Had one about which were associates and subdiaries. If one controls 45% and the rest 1%.
My last two questions were a consolidation SOFP and ratio question with dinar exchange. But i thought the gain was 2m so think i got that wrong now 🙁 was rushing at end.
Had gross profit, net profit, gearing and one more cant remember to calc then recalc if ignored gain.
Had to advise on purchase of which sub to choose and if you’d then control it.
My case questions were contracts and leasing.
Anyone else have same questions and remember more or what they put?
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