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I was thrown off balance!
Was expecting a section of cashflow or c-sofp and the likes… But defined benefit scheme?! Expected credit loss?!Question one was tough, I was specifically hoping defined benefit didn’t come up for many marks and there it was straight away for 9!
I don’t know what they were trying to do? None of Ethics questions were like questions in previous exams? Complicated ecl? Emission allowance with government grant and with revaluation? inventory question with fx and impairment? Who can finish these exam properly?
I agree the exam was ridiculous ? nothing was straightforward, they picked the most complicated things hahah
It was a nightmare. Directly starting with pension increased stress and anxiety. ECL was so hard didn’t make sense 🙁 and..at the end foreign currency commitment to sell was not easy either
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Floored twice after the opening bell with a particularly complicated defined benefit question and other complicated section A questions. Section B wasn’t much better, although at least there wasn’t a complicated and time consuming interpretation question. Managed to stay on my legs till the end having answered all questions but totally battered. Much much harder than I’d expected.
Got the impression I wasn’t alone as a lot of people looked shell shocked at the end of the exam. A long 6 weeks ahead.
I was taking the international version, didnt have Pensions at all. The exam was too long tho.
Many topics that I revised didn’t come up, I believe. No pensions, no financial instruments, no deferred tax, no shared based payments, no Conceptual framework, no Revenue or Lease. But too many weird questions on intangibles & capitalisation & exchange rates, it’s like putting all the eggs in one basket – if you don’t remember these topics so well, then…….
@cl10 i got PPE, cashflows, exchange rates, step acquisition for question 1
My second attempt and I’m shocked … u couldn’t have prepared for this paper. It is nothing like other previous exams – sept exam was at least similar to previous papers but I didn’t get through by couple marks and that was my fault for not preparing it well. I’ve managed to complete all 4 questions so I hope I will get 50 pass!!
Can anyone remember first group question?
Pension 9 marks
Goodwill 5 marks
What were the remaining questions?Just tell me one thing according to ifrs can the fv measurable both intangible asset and nci ? That would be proportionate and full goodwill ? Cause intangible asset contains fv of identifiable asset hence proportionate method of goodwill would be used. Where’s nci is measured at full goodwill fv at consideration less fv of nci. According to ifrs 10 consolidated financial statement. is this correct ?
Can you remember what your question one was? Mine had pensions and share based payments, surprised to hear that some of them differ so much…
chi.dao wrote:I was taking the international version, didnt have Pensions at all. The exam was too long tho.
Very strange questions! Not at all like the past exams I had practiced!
Defined benefit pension, lots of forex, government grant and intangible asset, what was that all about!
Not too feeling too confident but we’ll see come January!I got the pension Q too. Tough. First P paper and first time I left not feeling sure I’d passed. The time restriction is tough.
Looks to me like a new format test. Will be difficult to revise and resit it. Small bits and pieces of quite unusual stuff everywhere. After you memorised so many proforma’s……. Revision kit and past papers will not be of much help. Maybe textbook then?
The INT paper was complete AIDS. Groups question set the tone for the entire paper. Why does this examiner love foreign currency so much? Feels like I got ripped off. All that work in the weeks leading up to this to get a POS paper like that. I don’t think I’ll ever pass SBR at this rate.
This what i remember came up.
Q1
Explain defined benefit pension for 9 marks.
Goodwill for 5
Legal Costs
Financial Asset derecognitionQ2
Ethics only for 10
Modern age, so explain ethics relating to credit cards being given out without being checked
Hired a hacker to try and break their system, which was then sold.
Legislation which stopped customers from being contacted, still was contacted by the company.Q3
Joint operation
Decommissioning Costs
Foreign bank loan
R&D where the question told you development had started however the regulatory approval had not been granted.
Inventory
Discontinued operations and held for saleQ4
Integrated reporting how this is different that sustainable reporting ??? I just explain integrated reporting lots, was worth 8 marks.
Government Grants
foreign exchange question, bought inventory but paid in next year, remeasure the payable at y/e. work out fx gain on settlement.
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