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conso and ratio
too ez
i dont know why in ratio question provide correct calculate for old yearWasn’t able to tally my financial position. I got a difference of 12,623 which is my goodwill computation.
Any one have the same answer? Company name is Phyton.
u must add different to current liabilities
and addition entry relate finance cost
Dr retain earning
cr curremt liabilitiesSurprisingly easy, almost no tax, no eps, no ratio linked to stock price, no mid year acquisition
I had a lot on leases, a pig of a Consolidated Statement of financial Position, but a really nice final question for interpreting a Statement of Cash Flows, profit margin, and explaining to a director why the cash position was lower than last year even though profitability was up.
Overall, it was tough, but I will be disappointed if I haven’t passed it.
jeypi yes same question here and surprisingly we both have same differences mine was also 12k something what was your purchase consideration
@yaqoobacca – Sorry, not giving out my email, but happy to discuss in here.
@nighteyes where are you from
Has anyone spotted the Brooklyn 99 reference (coincidence?) in the consolidated financial statements question? Peralta and Santiago?
I’m not sure why I cannot tally that amount? How did you treat the contingent liability? I included it as an adjustment in the FV of the subsidiary, if I remember it correctly it’s 400,000.
Purchase consideration was 34,000 plus the deferred consideration of 12,272 (around 12k)
@yaqoobacca – UK. 🙂
I would say the exam was not too bad. Seeded questions were (I hope I recognized them correctly) were awful. Peraltra (or whatever it was) messed up with under value. It like jumped out of my head. Hope at least to get half for this task.
Parts a and b were in genera awful. I got too many theoretical questions which wanted exact answer and details to remember. In general I am preparing myself to resit it. But. Never knows.I would say the exam was not too bad. Seeded questions were (I hope I recognized them correctly) awful. Peraltra (or whatever it was) messed up with under value. It is like jumped out of my head. Hope at least to get half for this task.
Parts a and b were in general awful. I got too many theoretical questions which wanted exact answer and details to remember. In general I am preparing myself to resit it. But. Never knows.The contingent liability in 20 points question, was tricky, I think it should be excluded from the statement of financial position, as it can be disclosed in notes if its probable, but not in SFP. Am I right?
‘A contingent liability is a potential liability that may occur depending on the outcome of an uncertain future event. A contingent liability is recorded in the accounting records if the contingency is probable and the amount of the liability can be reasonably estimated. If both conditions are not met, the liability may be disclosed in a footnote on the financial statements or not reported at all.’
I had the same exam as you with all the lease questions I thought the multiple choice questions were pretty hard and messed up statement of financial position don’t see how I could pass ?? I seem to be good at failing first time and passing second time – never come out of an exam thinking it was ok
Did you have the Bike co and Scooter question? I got a loss on disposal?!
Did anyone have the horrendous C question with reworked TB with leased plant, leased property etc? I’d practiced these so much and there were no easy points……every addition was awkward and I run out of time 🙁I had same questions as yours. I thought the same thing a lot of leases.
A pretty hard exam
How did you do on section C question on the disposal.I had Bike & Scooter and also had a loss on disposal!
I can’t remember the name of my other C question, but there was a p&l, sfp & extract of cash flow.Yes that was the other question c. How did you find it? Too many leases and every adjustment was hard! Even the depreciation wasn’t straight forward! Did you add the property upfront cost of 16M and 20M (10 years at 2M) then depreciated for the asset figure?
I was ok working out the disposal if I was right with a loss. Think it was .6 or .8 loss. Ratios were fine and I wrote a little bit about performance but didn’t have enough time to go back and finish.I got a loss of 0.8 also, and yea I added the £16m premium to the £20m for the asset figure. I missed it altogether initially and couldn’t figure out why my sfp was so out of balance. Came to me in my last 5mins! I think the wording didn’t help either but fingers crossed!
My section b was worth 40 marks it said on the front of the exam being 30 marks in section a, 40 marks in section b and 40 marks in section c am I right in thinking section b would of had the 10% which doesn’t mean anything is just for acca guidance as normally section b is worth 30 marks also, hopefully a few of the horrible lease questions didn’t matter if that’s the case
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