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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…It’s a nicer paper than P2 was but I still failed and my hand felt like it was going to fall off by then end.
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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
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
LessNet 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.@zzzkkk said:
i got goodwill 10 who got this noI got;
Consideration 68
Contingent consideration (16×25%) 4
NcI (can’t remember but it was equity x 20% x the MV was $4.??)
Fnva (75)
Goodwill maybe 18My 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
@jeromeb said:
I got;Consideration 68
Contingent consideration (16×25%) 4
NcI (can’t remember but it was equity x 20% x the MV was $4.??)
Fnva (75)
Goodwill maybe 18adding onsideration?
@ndasi said:
nci was 17 (20% of 20) * fair value 4.25I did 16 x 4.25 x 20%
@zzzkkk said:
why you adding cconsiderationbecause 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
It felt like the worst paper so far. I was expecting slightly easier questions for the new exam. Real accounting life is not that hard 🙂
I got the same Goodwill @jeromeb.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
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