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

And what a cashflow... let’s cross fingers for October!!

Is that asset acquisition? Intangible asset can be recognized? Is that revenue?

Based on the poll it looks like this paper was a disaster. Not very reassuring for those of us yet to sit this exam. I failed P2 in June but won't sit SBR until March as I am struggling with APM at the moment.

Same here~~how can you expect a cash flow in Q4 asking you adjusting the operating cash flow only but giving ton of cash flow item from investing activities....... I don’t even know what is net cash flow free from xxxx(forgot) Want to cry...

My time managing was poor. Wasted too much time on Q1 and Q2...realized that time's running out and did half of Q3 and wrote something on Q4. Sigh

this paper was just a dead trap and i fell into it

Can anyone explain how the disposal of associate was accounted for? It went from a 40% holding, so significant control to 10% so should be accounted for under IFRS 9. Is the template correct to use Disposal proceeds. X Fair value of retained interest X ----- X Less Net assets of sub at disposal date. X Goodwill at disposal date. X Carrying amount of NCI. (X) Profit / loss. ----- X ------ Thanks

Tough!! I’m hoping the markers may be more leanient with it being the first one in new format and many finding it hard.. positive thinking?!

Well my take on paper Question 1 and 2 were fairly easy and pretty much doable. What was tested on question three and four, I haven’t come across any of these requirements before. No past papers contained them. Especially cashlow and disclosures regarding intangible assets. I sense everyone who appeared for exam today felt the same way.

i got goodwill 10 who got this no

@zzzkkk said: i got goodwill 10 who got this no

I got; Consideration 68 Contingent consideration (16x25%) 4 NcI (can't remember but it was equity x 20% x the MV was $4.??) Fnva (75) Goodwill maybe 18

My time management went straight out of the window. I couldn't answer b and c of section 1. A part of 3 and the cashflow totally

why you adding cconsideration

@jeromeb said: I got; Consideration 68 Contingent consideration (16x25%) 4 NcI (can't remember but it was equity x 20% x the MV was $4.??) Fnva (75) Goodwill maybe 18

adding onsideration?

nci was 17 (20% of 20) * fair value 4.25

@ndasi said: nci was 17 (20% of 20) * fair value 4.25

I did 16 x 4.25 x 20%

@zzzkkk said: why you adding cconsideration

because the question included consideration and contingent consideration

@zaidahmad444444 said: Well my take on paper Question 1 and 2 were fairly easy and pretty much doable. What was tested on question three and four, I haven’t come across any of these requirements before. No past papers contained them. Especially cashlow and disclosures regarding intangible assets. I sense everyone who appeared for exam today felt the same way.

I felt the same I've done cashflow before from p2 but this was something else. And the question about why disclosures could be an issue for users left for me braindead as well

Can you guys give those of us who are yet to attempt the new SBR exam any advice now that you sat the exam for the first time? Anything to be aware of? Any study/preparation tips? What to do, what not to do?

hello which topic was examined as im preparing for december sitting and i cant wait till ACCA releases its specimen paper

Hello, anyone who sat UK paper for SBR, please can you tell me what were the UK Parts (topic areas) in question 3 and for how many marks, many thanks in advance for any replies.

Revised Goodwill will be 14

Consideration 68 Contingent consideration 16x25% =4 Nci 2.5 mil (the group bought 10 mil shares (80%)) shares x 4.25 Net assets (70) Fv adj of na (5) —————————— Goodwill 7.625

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My understanding of the question was that the group bought 10 mil shares. The total shares were 12.5 mil.

What did everyone write about the potential issues investors would have re intangible assets? The question asked about the different acceptable valuation models, the capitalisation and one other thing which I can’t remember? For capitalisation of intangibles I wrote that assets would increase which could decrease ROCE. Not sure if I was on the right tracks with this one??

Paper was very similar to one of the specimen exams, of course being lazy I did a half effort at the specimen exam and suffered during the exam because I could have aced it.... Anyway did not struggle MUCH did leave 11arks out thou and for discussion question I blab so much for 6 marks.... Ey I really hope I blabbed enough to get a pass just 50%, please god

This paper was not made for me!!! Qstn 1 (a) (i)calculation of goodwill after amendments made to figures of purchase consideration, nci and fv of identifiable net assets (ii) disposal of subsidiary to simple investment (40% to 10%) (iii) *dnt remember* (b) definition of financial asset (c) sale of bond Qstn 2 IAS 37 provisions, asset held for sale and ethical issues Qstn 3 IAS 38 Intangible Assets-compare definitions, disclosures- effects on investors, accounting policies, conceptual framework Qstn 4 APM and cashflow This is as much as i remember..definitely my worst paper ever!!!! Was a wrong decision to resit P2 as SBR! Saw some new terms for the first time...operating free cashflows!! Cashflow qstn was soooo confusing!

In the specimen exam the contingent consideration was included at 100% its fair value are you certain the the fair value had to be at 25% of the pv of the present value?

Too much leanthy, lot of complexity, didn't expect for a new paper, very unfair ...