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

I choised A)1.9m
I’ve done past exame papers before,now on my opinion todays exame was easier than before,hope will pass normally ?
good luck evrybody

Anyone remember Mcq about historic n cost accounting

My answer was 360000 historic
Current cost 420000

For q 32
How did you deal with revaluation of property of both parent n sub in post acq year
Did u add that to revaluation surplus in Sfp
For def con what amt needed to include in non current liabilities
28000*.857. = 23996
Cost of capital 8% *23996 = 1919.68 ?
In ncl in csfp 23996+1920= 25916 ?

In current liability 1920??

Dt expense 200
Dt liability 1500
Cr 1700

2 last questions not so hard but the MCQ…. I found them very tricky and a lot to calculate. Anybody remember the question about shirts and skirts? My answer was not there 😉 so has to guess at the end..

@simspetya said:
Dt expense 200
Dt liability 1500
Cr 1700

I chose the same answer I hope we r right finger crossed

Pls which was the right and for the question “which financial assets are recognized- contract favorable, unfavorable or cash…”
And
The question about “financial instruments are presented depending on their legal form or consistency…”

Especially the mcqs. Maybe would work out some answers better but the time pressure was too big…

Did anyone do the CBE version. The Business Consolidation question at the end 32 i think was in a word doc format. I have never seen this and only have practiced on the excel type sheets. Completely threw me and i lost a lot of time trying to format and add on the calculator…. what is the point of computer exam if we are doing a spreadhsheet question in a word doc? Its slower than paper… did anyone else have this issue?

@lukman94 said:
Yes something along the lines of that. For the revaluation I took the full amount
Of the parent and added it to the balance brough forward and took 80 percent of the subsidiaries rev surplus and added to parents.

I think I included the full amt of rev surplus of parent n sub and extra 4m & 1m

@simspetya said:
Pls which was the right and for the question “which financial assets are recognized- contract favorable, unfavorable or cash…”
And
The question about “financial instruments are presented depending on their legal form or consistency…”

I dn not exactly remember the answer I think I chose something to do with legal

@simspetya said:
In q31 the reason for increasing of no current assets was revaluation as there was a big amount in the revaluation surplus.
Right?
So the Roce and asset turnover goes down…

I mentioned that as well
They must have revalued non current asset
And second what I notice was loan repayment and cash was greatly reduced

I did the same