SBRACCA Paper SBR December 2020 Exam was.. Instant Poll and comments

suf23 wrote:On an unrelated note, why does everyone have similar design profile pictures?

You can upload your own of course

I thought I was the only one feeling weird about this exam. So many new areas and complicated additions which was not covered in the text and revision kit. It seems one has to cram the whole standard for you to understand the question and the time!!! So short! I was still on question 1 when I had about 1 hour left, yet could not complete the question 1. It is well, Lets hope for the best.

Was just thinking - For one of the questions where the 2 companies had joint control etc - and one of the parts was “under frs102 how would you deal with the site that they were planning on selling” Did anyone write about HFS is not applicable under FRS102 and discounted operation from the sale needs to be reported seperately on the face of the p&l?

For the ethics questions related to accounting software and hardware is it fine to identify the self review and familarity threat without specifically using those words? And it said ethical principle so do we had to use the words like integrity and professional competencies and due care ?

chardynigelon wrote:

Encaladeus wrote:There was a question about derecognition. I think that asset shouldn’t be derecognised because risks were not transferred

I remember the question said the rights to contractual cash flows were sold. But I think "sold" is not necessarily the same with "transfer" as substantially not all risks and rewads have not neen transferred and legal form of transaction does not affect accounting treatment? As in many cases in the revision kit; I ended up continuing to recognize the fixed rate loans while credited the amount of cash received as liability…?(°A°`)?

chardynigelon wrote:

Encaladeus wrote:There was a question about derecognition. I think that asset shouldn’t be derecognised because risks were not transferred

But also says transfer of risks. In question risks are with the company. So weird question. I believe that some questions have more than 1 answer because accounting is judgmental at some point. Maybe they are trying to show this but in a very bad way.

NCC21382 wrote:

chardynigelon wrote:

Encaladeus wrote:There was a question about derecognition. I think that asset shouldn’t be derecognised because risks were not transferred

Same here

For the ethics questions related to accounting software and hardware is it fine to identify the self review and familarity threat without specifically using those words? And it said ethical principle so do we had to use the words like integrity and professional competencies and due car

The question about why it is not a business combination/ ...Investment property strangely enough seems very similar but with a different conclusion to practice question Blackcutt a). Determining whether Investment property also needs owner occupation consideration, say where ancillary services such as security and maintenance are significant as is the case with hotels. In such a case it would fall under IAS16 PPE. I think it was important to discuss the issue of Input, processes and output. Output only has to be likely and a propensity for processes to be applied to the inputs to produce outputs. Outsourced employees also provide the propensity for processes, hence not having employees is irrelevant in determining whether there is a business combination, Just as actual output is not essential but merely the potential to produce it. I am glad that there was less of consolidation as I spent most of my time with specialised accounting. All the best to those who wrote exams last week. The examiner always has tricks up their sleeve. You need to read in between the lines. Nothing is obvious.

I realised during the exam that Open Tuition lectures are very concise and relevant. A very good resource for the revision stage. Thank you Chris for making me laugh during my revision. God Bless!

As an ACCA candidate,I booked SBR exam dated on 10th of December, 2020 at 11:00. Before the exam day, I ran all the launch tests and passed to take an exam with my personal computer. On the exam day, I became ready at 10:35 logging in myaccaglobal and VUE platform. It took 15 minutes by support staff to recognise my ID and other processes such as exam environment checks. After that phase, support team or VUE staff made me wait more than 20 minutes in the platform without any response in chat box from around 10:55. Then one of your staffs appeared in the chat box to direct me verify my ID and then to release the exam. Again, this processes took so much time which made me take my exam with a delay. Then, staff could not succeed to deliver my exam and asked me for to reboot my PC. Despite my repeated questions to verify his/her recommendation, he/she made me shut down my PC. After logging out, I could not reconnect to platforms to take exam. The website did not allow me to sign in assuming the exam is expired. This happened because staff made me wait without any reponse until the exam time and made me run processes taking so much time which is later than 11:30. And finally, I was asked for rebooting my PC by staff. Due to my delayed processes, the accaglobal portal and VUE platform did not allow me to log in the system. Then, I called representatives in Turkey, to tell the story and ask for help. He said he would contact with other team members. At 12:51, I am called by a staff from VUE from Boston,USA about the exam situation. She told me she was preparing technical reports and would be in contact with somebody to let me take the exam. Then representatives in Turkey, called me to tell about the situation and it does not look that my exam will be realised today and might be booked in March. Lastly, at 14:27 he called me back to tell that my exam might be realised in March. Since there is a problem occurred by support staff which is making me wait for a long while and then making me disconnect to the platform, my exam was cancelled. I also believe that I took the right actions calling representatives. I don’t consider this situation as a technical problem. There should be a road map in those kind of failures. Remote exam is relatively a new syatem. So, there should be plan B,C,D to cover exam takers’s failures. But, this road maps should not be directing students to take exam in next term. I have been studying for this exam for a long while, my exam was cancelled because of amateur staff’s very unprofessional actions. I also don’t have any guarantee to encounter with a similar situation in March period. The organisation is one of the oldest accountancy bodies in the world, however it does not act in the favor of their ACCA candidates. Crediting money back is not a solution. Candidates spend so much time and effort to take an exam. The only thing they do is booking an exam for the next term. It is a big disappointment for me. I don’t think ACCA is professional anymore. I hope any other people did not have any such bad experience like this.

Hi all, what exaclty came up in the exam in December? And tips on how to prepare for the march sitting? after reading all your comments im now confused! :-S

thanks for response :)

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