ACCA Paper FR December 2020 Exam was.. Instant Poll and comments

BPP, even i didnt come across it,, its just my guess as in accordance to ifrs 9 financial instruments. And i find so many questions in this exam which are not in BPP, i thought BPP alone is enough to crack the exam and im confident with my preparation however, the exam was a disaster.

I find so many concepts new, i struggled to answer revenue questions in section B as well and very much confused over Ratio analysis question i literally change my answer 4 times for the analysis couldnt able to come to any conclusion.

Hi Navneet,

When I just started the exam the SBR Students started typing the answers very fast and furious it was funny I couldn’t concentrate on my exam panicking.
Laughing now. I couldn’t concentrate on my exam too noisy. First I refused the earplugs then after ten minutes I realised I needed for my concentration.

Because our FR exam we have to read our question carefully without any disturbances.

They should not mix the SBR Students with FR Students. Not a good idea.

Hi Jaswanth,

None of the questions are exactly the same question from books. But the Knowledge , Skills and Techniques acquired to answer the question I think not entirely there on the books.

Always more to learn and think and Figure out.

Rowe 992,

I had the same issue on the shares thing I just used the price per shares by the number bought based on no of shares they had (75% of), which is why I think my goodwill was wrong but I’m hoping for marks for calculating the other points like consolidated reserves and adjustments.

I got the Cheese company paper.
ROCE were similar but the gross profit and net profit decrease. The coy expanded business in budget market in 20X7, hence selling price decreased but cost of sales no change. The coy has plan to expand further into the budget market, this could eventually eat up their profit from the luxury market. Cost of sale increment is more than revenue in turn of %.
Administrative cost increase mainly due to professional fee. So I think the coy have to keep their staff turnover low in order not to incur further expense.
For expansion, I suggest to use retained earning and issuance of new shares or rights as compare to bank loan. Shareholder should support the move with good plan. Bank loan not recommended as they already have increased loan as compare to 20X6.
Suggestion for the coy: improve their sale on the luxury market as that is where the profit is coming from. Get cheaper but goos quality product from other supplier in order to expand into the budget market segment.

@rowe992 The amount of investment for the share exchange was in the non current assets of the parent company individual SOFP and I think it was 34,000. Total consideration paid would have been that plus the deferred consideration.

pjashu1995 wrote:I got ratio analysis but on Bike’s co company disposing scooter co

me too
for the same question, what did u get for the gain for the disposal in group accounts?
there was no NCI if im right isnt it?

anyone got the foreign exchange questions in section B.. please did you multiply or divide the 750,000EUR by the closing rate?? and the 500,000 EUR in the second question

Lol, same thing happened to me. I got really confused as to why there was so much typing until l realised its the SBR students ?????

@Jovitha885

I reduced it from cogs and i got profit of 3.9 mn for disposal how much you got

@jovitha885 for govt grand question i think the answer is,

dr other income 56,000
Cr deferred income 56,000

as we need to show only 4000 in other income, so we need to reduce 56k from other income and increase that in deferred income.

@Pjashu1995

I had the same exam version as you and I have loss from the disposal 600(Sale proceeds-Goodwill-Net asset at date+NCI). In the next question you had to respond to the questions of CEO, why the profit for the year was so low despite the fact of the subsidiary sale. I think it is somehow connected.

Concerning the previous question(31) with the SOPL at the end of the exam I have noticed that proceeds from the rights of share issues(share premium) were allocated to the Revenue and it has to be deducted.I think that question was one of the toughest one on the F7 exam from couple of years.