*** ACCA Paper SBR March 2020 Exam was.. Instant Poll and comments ***

@nieffee said:
Does anyone remember any of the mark allocation …. trying to just go over how I did. I know I shouldn’t torture myself. I can’t change it now. But it does help me lol

Question 1
Functional currency (6)
Goodwill , impairment, exch loss etc (5?)
Accounting for Crotchets customer contracts (4?)
How to account for Quaver (4?)
Bonds! (11)

Total 30

Question 2
Provision for restructure (6)
Related party. Wife’s shares (3?)
Stewardship? (3?)
Ethics points (6?)
Professional marks (2)

Total 20

Question 3
Accounting for stadium barriers (?)
Sale and leaseback (?)
Intangible contracts, bonus, CGU (?)

Total 25

Question 4
Sustainability (8)
£16m (£2 mil saving, £10m loss in sales ) and accounting for old lease (6)
Pension calculation defined Benefit
And Effect of PBT of above 2 (9)
Professional (2)

Total 25

Also feel free to correct anything that’s wrong !

Remind me again, what was Quaver in Q1?

I thought Ethics was 5 marks this time but can’t remember how the 20 marks added up. Maybe the related party was 4 instead of 3?

Did anyone put the wife was a related party? I thought not as the accountant wasn’t key management personnel.

Can you please tell me in question 3 ..head accountantant wife is considered as related party.

Who are the 6 people who said the exam was easy as per the poll??

My first attempt at SBR and I have taken the exemption route. Time management was the biggest challenge. Given 5 hours I’m sure everyone would have been able to manage writing a good paper. Hope to clear.

@rossacca Quaver was the 100% sub acquired with the intention of selling. Think you could be right about the ethics being only 5 marks

Related party. I actually didn’t stop and think about it too much. I said that although he wasn’t a director, he was a member of key management personnel and as such his wife was a related party. I personally would be very surprised if a head accountant of a company with that responsibility was not considered key management personnel

This exam to my knowledge is a lot about justifying yourself also. If you make key valid points and can back these up in relation to the scenario specifically you will still score marks.
for example if you state that the wife of key management is a related party, you would get a mark for this, even if you got the fact about them being key management wrong

time was a major constraint, even if you knew what to write, time was not just enough…..

May I ask what the sustainability question was? Can’t remember at this point ?

People who are saying the paper was awful/difficult haven’t sat for any previous sittings I guess. This paper couldn’t be any easier as I have given December sitting and I was legit getting panic attacks while writing it due to extreme shortage of time and my inability to identify a SINGLE IFRS standard and the questions were very vague, you could not tell what are they exactly asking. I was blank to the extent that I could not understand English itself at all!
I got a 40 I was pretty satisfied for my terrible performance.

The March paper was very easy if you had studied the standards well. ACCA papers are made like that, you have to rush to keep up or else writing few more points for one question will make you miss other answers. You might not be satisfied with your answers as you’ll miss some points but that is how it is.

Yes if you can justify it .To be on the safe side, I think you will need to explain what having a significant interest is and relate it to the scenario..

If it was a finance director ,then the case will be straight forward .The head accountant will advice and provide options in my view .

Strategic operating / finance decisions are taken at the board level .and the head accountant does not have his name attached to any representation in the company’s annual account neithe will his name appear in it.
.
Members of management team are always in the Annual Account .But I think if you justify your claims and state why you think he is a member of the management team .It will be given .

I sat the Dec exam also. I put all my effort into the ATX exam which I was also sitting and thankfully passed, but I was trying my luck a bit sitting this one also. I managed to get 40%
I say managed. Because now having a far more detailed knowledge of the standards, I honestly don’t know how I managed to get 40!
I don’t think I scored more than 10 marks across questions 3&4 and I think the ethics question carried me a long way to that mark
So after sitting the March exam and feeling that for the majority Of questions I understood and answered well. I’m just really hoping I have done enough and passed ( I feel like if I’ve failed it it. I will be a bit shocked and actually a little unsure as to how I went so wrong) , but being my final exam I am also a little afraid of getting my hopes up too high
It’s going to be a long 5 weeks till the results!