SBR*** ACCA Paper SBR December 2018 Exam was.. Instant Poll and comments ***

@ritaalbu said: What did you say in Q3 - b, recognizing the provision? and indicator of impairment? I said do not recognize the 3m provision as there is no obligation, and decline in price is an external indicator of impairment ..

@hassanwaheed87 said: I did all the questions in BPP Revision Kit and all Mock exams. 3 of them in exam conditions. I still don't think I will pass. Question 4. I don't even know what it was about. I only wrote what I knew about Deferred Tax from my revision and that was it. I will probably have to try again in March :( This time I will use Kaplan's material.

@wangbaichuan said: Q1 the group cash flow was ok not too hard, wish I can score a pass mark However I think I'm wrong about the HFS classification, where the Watson can't be HSF as it is not available for sale at present condition because of the SBP Q2 the only challenging bit is the ifrs 16 and ias 40, in my opinion I think it's a finance lease as the majority of risk and reward has transferred to the lessee(40 years) so can't an investment property ,therefore overstate the profit and asset and therefore understate the gearing to protect the loan The revenue bit was easiest one Q3 A in analysing the NRV of different coal , I said the things related to ifrs 13 fvm ,and talked through it , don't think it would be good B easy C no control here as 52%less then 72% , and I used the control criterias to talk it through, and concluded that joint venture. Q4 management commentary , I read the articles , and I found the same qn in Kaplan kit Tax , i only talked the things that I known Such as the changes in tax rate is a change in accounting estimate Deferred tax assets criterias Deferred tax liability criterias If anyone agree with me

@gaby12 said: @kbourne said: Hi guys. think we are all in the same boat here unfortunately. Very hard paper and lots of curveballs. Q4 was a killer. can anyone please advise on how the fair value of the coal would have been accounted for? I talked about fair values level 1 2 and 3 but wasn’t sure if I am honest. Could they have met the criteria of a Derivitive? HORRID paper I said the NRV should be calculated by taking the spot rates and future rates as being level 1 and level 2 valuations and derivatives should be used in order to protect the fall in value for the future transactions. Not sure is correct but this is how I answered.

@jamioio said: IFRS 16 Leases states that a lease is probably a finance lease if one or more of the following apply: 1) The lease term (including any secondary periods) is for the major part of the asset's economic life 2) At the inception of the lease, the present value of the lease payments amounts to at least substantially all of the fair value of the leased asset Both of these were found within the scenario text. The property could therefore be de-recognised as an asset, and re-recognised as a receivable discounted to present value. The discounting will lower the value of non-current assets and push gearing over the allowed limit. Further, the receivable is broken into non-current and current, again affecting the gearing ratio. I think this question is open to interpretation, perhaps the examiner will just want to see your point, and that it is well explained. I certainly appreciate the argument with regards to level 1 and 2 inputs. Personally, I found the IFRS 13 Fair Values element to be more useful in the ethical issues part of the question.

@wangbaichuan said: Q1 the group cash flow was ok not too hard, wish I can score a pass mark However I think I'm wrong about the HFS classification, where the Watson can't be HSF as it is not available for sale at present condition because of the SBP Q2 the only challenging bit is the ifrs 16 and ias 40, in my opinion I think it's a finance lease as the majority of risk and reward has transferred to the lessee(40 years) so can't an investment property ,therefore overstate the profit and asset and therefore understate the gearing to protect the loan The revenue bit was easiest one Q3 A in analysing the NRV of different coal , I said the things related to ifrs 13 fvm ,and talked through it , don't think it would be good B easy C no control here as 52%less then 72% , and I used the control criterias to talk it through, and concluded that joint venture. Q4 management commentary , I read the articles , and I found the same qn in Kaplan kit Tax , i only talked the things that I known Such as the changes in tax rate is a change in accounting estimate Deferred tax assets criterias Deferred tax liability criterias If anyone agree with me

@sudiptosen said: Someone posted earlier that SBR Dec18 has been uploaded by ACCA..I tried to find it but cannot locate ….however, have seen the question today in some other platform…surprisingly it is quite fast in the mkt!!