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Hi everyone,
I was surprised that I did not see any lease or financial instrument in my exam. Very weird. Mainly contracts revenue, PPE, intangibles and Gain in Exchange rate. This in section A and B
In section C one of the questions was to do a CSPL. I got that NCI was a profit but there was a loss attributable to the Parent company?
Thank you
I found it really difficult
-Part A was a disaster: A lot of questions on really abstract parts of the syllabus which included exceptions to the standards… It felt like, if you didn’t know every exception it was 0 marks.I guess I’ll be retaking in March! 🙁
I couldn’t figure out how to calculate the NCI for the CSPL – there was no information there about the acquisition itself…?
part A was complete disaster ..
full of contracts and consolidation disposals and grantsWeird that most imp chaps was excluded from this exam … full of weird revene , grants , foreign exchange , group disposals ques only
You dont need that for CSPL. For profit and loss it is only the share of the profit of the subsidiary -share of PUP
I think I got the same section C question as you. I also got a profit for the NCI and a loss for the Parent company.
I really struggled with the exam. I’ve done a lot of revision on consolidated sofp and financial instruments but neither came up. I’m just thankful statement of cash flows didn’t come up either!
True! I was expecting more important ifrs to be tested..and didnt pay much attention to he details of other chapters, and what a disaster, all came in section A and B
@sflynn120 Thanks for replying. What a relief. Please keep positive. Fingers crossed we will pass.
zulma85 wrote:You dont need that for CSPL. For profit and loss it is only the share of the profit of the subsidiary -share of PUP
Thanks zulma85, that’s what I did. Perhaps it wasn’t a total disaster (fingers crossed)
I thought I was the only one that got a loss of about 14300 for CSPL, However, my NCI was a profit.
I really struggled with Ratio analysis of Section C. Bearly had enough time to attempt the 14marks Question.
Section A & B were fair, not great.
Hi, Section C : I got SPLOCI and SOCE ….. Lots of workings required confusing where to adjust what. I might have made over adjustments which were not required, so not expecting much.
2 question was for disposal of subsidiary and working out gain or loss ….. might have got tripped…my workings led to loss on sale.
I spent 2 hours on these questions….it is so hard to read such long questions. I should have done section B first followed by C and then A or maybe A and then C.
My section A was full of P/l determination involving sale of subsidiary.
Section B w
isowamhen wrote:I thought I was the only one that got a loss of about 14300 for CSPL, However, my NCI was a profit.
There were some adjustment to make on NCI share of profit, such as Dep of PPE & Amortization of Brand
For working out SOCE …..did not have B/f figures in the questions….found tricky
The exam is really tough only focused on consolidation and disposal and few other chapters….surprised it left out so much of syllabus and focused on few.
Anyone got ratio analysis question and is it profit or loss for the group’s account?
It sounded like there were two lots of section c questions
I had the consolidated sporl and the ratio question on the cheese business
I only adjusted the NCI share of profit for amortisation of brand, from memory their profit was about (3050-220)x20%. I thought the Property belonged to the Parent so wouldn’t affect the NCI?
I also got ratio analysis for cheese business but my mind went blank for net asset turnover so didn’t put anything and also didn’t show gearing as a %. I left the 14 mark explanation question until last and only ended up writing a couple of lines!!!
NCI too a lose figure right? PUP should be reduced as subsidiary was the seller…
Sec B I had Leases, Revenue and Assets. Sec C I got Box Co with Ratio analysis And Python & Snake consolidated SOFP.
Both section C’s were not too bad. Did anyone have these and how did you find them?
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