Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › ACCA Paper SBR December 2020 Exam was.. Instant Poll and comments
- This topic has 129 replies, 50 voices, and was last updated 3 years ago by habetlerdavid.
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- December 10, 2020 at 6:01 pm #599177
I have a feeling some people did different papers – even if it was an INT paper, because of Covid, there were two sittings in the UK hence I think it’s different papers!
My paper had:
PPE
Forex
Cash flow investing activities
Step AcqEthics – was a strange one not like any format of ethics tested before
NCI & IA FV methodQ3 asked you what IFRS things fall under…
I think it was mainly Intangible assets tested and can’t remember the restSustainable reporting
ForexSorry bits and bobs i can’t remember but can only say it was all a bit of a shambles! Not like the past papers they tested!
December 10, 2020 at 6:02 pm #599179AnonymousInactive- Topics: 29
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what was the correct thing to do with the legal costs in Q 1 part B?
December 10, 2020 at 6:05 pm #599182The revision kit questions were easy compared to this one. The cashflow and forex ppe in q1 stressed me out and I gave up at that point. I did not write about the step acquisition as was overwhelmed by cashflow.
Ethics was weird, no conceptual framework.
I know all the current issues about taxes, pensions, policies but got sustainability reporting and integrated report – differences between them. I dont remember seeing this in the textbook.
The exam felt they wanted us to fail, as mostly the same stuff was tested in all questions. Horrible and unfair.December 10, 2020 at 6:11 pm #599184Reading all your comments makes me feel better that I’m not the only one. The exam was awful. I was confident that I’d learned what I needed but clearly not and just left feeling disappointed in myself! the ECL was difficult mainly because I didnt really understand it. I at least wrote something for each question but i’ll be honest, half of the time I was guessing/rambling or short sentences… everything you shouldn’t do. I think if we had more time to think we would be able to apply logic when we are unsure and at least give a half decent attempt but unfortunately its a case of know it immediately or you dont and move on.
What do people think of the FRS Qs?December 10, 2020 at 6:12 pm #599185Expense them.
In relation to Suf23’s question, couldn’t quote :/December 10, 2020 at 6:13 pm #599183suf23 wrote:what was the correct thing to do with the legal costs in Q 1 part B?
You should have expensed them.
December 10, 2020 at 6:13 pm #599158chi.dao wrote: @cl10 i got PPE, cashflows, exchange rates, step acquisition for question 1
How?
Which version did you write?December 10, 2020 at 6:13 pm #599180.
December 10, 2020 at 6:14 pm #599190AnonymousInactive- Topics: 29
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suf23 wrote:what was the correct thing to do with the legal costs in Q 1 part B?
whoops. i included $1 m in the consideration ,
December 10, 2020 at 6:18 pm #599191I agree, I memorised all the current issues ready for any easy 4 marks… ish and I never got one question on it. Unless at some point I was supposed to tie a current issue in with another question and I’ve missed it.
December 10, 2020 at 6:18 pm #599192Just 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 ?
December 10, 2020 at 6:30 pm #599197I stated that both NCI and Intangible assets can be measured at FV and that entity has a choice to measure NCI either at FV or proportionate. Question said that the other subsidiaries NCI’s were measured at proportionate method, so for the new sub the entity should follow the same. Not sure if this is correct.
December 10, 2020 at 6:33 pm #599201I was caught completely off guard by the sustainable and integrated reporting questions. I had little retained knowledge from previous exams and seemed to somehow completely avoid these when revising.
The exam threw up some strange questions and some which I felt totally unprepared for.
On the balance of things I can only hope that I interpreted the questions correctly and gave enough to pass.These are the Q’s I had.
Q1 a Defined benefit plan
b Goodwill
c de recognition of Financial assets
Q2 a Ethics
b credit losses
c credit loss calculation
Q3 a Oil field case study
i why it is not a bus combination
ii decommission
iii emission Allowance
iv inventory
v effect of closure of oil field
Q4 a Sustainable reporting and integrated reporting
b risk of raw material to be added in sustainablity report
c government grants / intangible assets
d effects of forex and and adjusting eventsDecember 10, 2020 at 6:39 pm #599204What if written does that make sense ?
December 10, 2020 at 6:41 pm #599209Business combination was at fist question in my paper.(asset acquisition inv property actually). 3rd question was joint operation. Maybe whole paper was different:)
December 10, 2020 at 6:47 pm #599211I was doing international as well, it did not have defined benefit. 1 question was on PPE, Cash flow, Goodwill calculation
December 10, 2020 at 6:51 pm #599216Is the inventory treatment the same in Oil firms with a manufacturing firm? They included oil prices declining, does it somehow effect the cost of inventory in balance?
December 10, 2020 at 6:52 pm #599217I added the $1m from the legal cost relating to the share for share purchase consideration… And advised that the $2m be expenses as it would have been incurred whether the acquisition finally went through or not… Someone tell me I was right? Please! ?
I also deducted the net pension liability that had not been taken into consideration… Was that the right treatment?
Took think that I spent the whole 2020 preparing for this Sbr sha
December 10, 2020 at 6:52 pm #599218Hi yes…I think it was question 3…weird exam thou….was completely abashed…the very first question killed me apart the goodwill calculation….pension benefit scheme….where two 6 months csc was given…I was like wait…what’s that nightmare…?….Ecl….hybrid contract with derivative…..contract to sell but didnt even received….wondering if it was mere hedging….could only attempt question 2 on ethics in digital age….guess revision continue for me….lets see what they”ll set for march sitting.
December 10, 2020 at 6:55 pm #599219I don’t know what’s going on with the exams but nothing like mocks or practice questions. Have they suddenly changed? Sat this in September as well and same level of difficulty. Had no material that would prepare for the level of difficulty in this paper.
Haven’t experienced a difficult ethics question, this was almost impossible.December 10, 2020 at 6:56 pm #599222@javid..I think there was an impairment. Because inventory is valued lower of cost or nrv. (couldn’t quote)
December 10, 2020 at 7:10 pm #599224Just 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. Can someone tell me does this make sense and is this correct ?
December 10, 2020 at 7:13 pm #599225For me INT version.
1- PPE, step acquisition, goodwill, cashflow,
2- Ethics, accounting system implementation, treatment of hardware and software
3- Joint arrangement, decommissioning cost, inventory valuation
4- Sustainability, IRsection A took lot of time, so could not even attempt Q4.
December 10, 2020 at 7:14 pm #599226And for government grant I wrote accounting to ias 20 government grant is to transfer the resources to the firm in order to meet future compliance. The emission would be accounted with p and l and would need to consider the cost of the service as well. According to is 38 intangible assets and non monetary physical substance. Emission would be measured at revolution model which is cost less accumuled depreciation and impairment losses instead of cost model since emission is a non physical substance that does not contain cost. Is this correct as well ?
December 10, 2020 at 7:15 pm #599227Both intangible asset and goodwill can be measured at FV. For goodwill there is a choice.
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