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

It had asked about the why investors find it difficult to analyse intangible assets under 3 parameters 1)Acquired intangibles 2) don't remember (anyone remembers?) 3) Capitalized development costs Was there an explicit reference in question about "different acceptable valuation models, the capitalisation and one other thing which I can’t remember"? and how Integrated report will help them with their Analysis - I believe this was second part

Lol that was hard

Section A- Q1) I got this as the rectification entry Dr G/W 2 Dr Land 5 Cr Liab 4 Cr NCI 3 Q2&3) Was Ok - About significant influence and Associate disposal Got a Gain of Something Q4) It is a business as it had an Input and Process Q5) I wrote the bond should not be derecognized as they still have risk and reward and they should record the amount received as Financial Liability. Please don't say everything is wrong!!!!!! I will end up with 0 then

For the selling of development project question (only 4 marks I think), I wrote that revenue shouldn’t have been recognised as the sale wasn’t part of the entities usual business activity and this is the definition of revenue. Anyone else put this?

Has any one got ideas on the bond question? I was convinced I’d seen a similar question but can’t see where? I waffles about recognising loss through OCI not through profit or loss as saying this will be reversed when if we purchase the bonds back, but it’s not a disposal as we still have some of the risks and rewRds involved. However we can’t provision for the risks as the market could go up or down ( like treatment of a derivative )

Have anyone mentioned hedging in the paper today?

I am pretty sure I got this for q1 Section A- Q1) I got this as the rectification entry Dr G/W 2 Dr Land 5 Cr Liab 4 Cr NCI 3 Q2&3) Was Ok - About significant influence and Associate disposal Got a Gain of Something Q4) It is a business as it had an Input and Process Q5) I wrote the bond should not be derecognized as they still have risk and reward and they should record the amount received as Financial Liability. Please don't say everything is wrong!!!!!! I will end up with 0 then

@ds3ce said: 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.

I failed P2 in June exam. Today’s exam was weird. Question 4 talked about something I had never heard of ‘operating free cash flow’ or something and there was a LOT of focus on current issues such as integrated reporting, APM’s and proposed revision of conceptual framework. A very different format to P2 and my hand was hurting by the end as it involved a lot of writing and minimal calculations

Hello, I dont know if its just me but it seems like many people on here did OK in most of the questions in general. Can anyone please tell me if they used the Kaplan material or the BBP material and found it 'easier' I found exam very hard and i used the Kaplan material. Many thanks

Q1 goodwill consi 68 Cont consi 16 Nci (20×20%×4.25) 17 Net asset (70+5 ) (75) _____ 26 Contingent cons at fair value accounting at the acquisition date .. subsequent changes do not impact goodwill but are accounted for separately If the amount of contingent consideration changes as a result of a post-acquisition event (such as meeting an earnings target), accounting for the change in consideration depends on whether the additional consideration is classified as an equity instrument or an asset or liability: [IFRS 3.58] If the contingent consideration is classified as an equity instrument, the original amount is not remeasured If the additional consideration is classified as an asset or liability that is a financial instrument, the contingent consideration is measured at fair value and gains and losses are recognised in either profit or loss or other comprehensive income in accordance with IFRS 9 Financial Instruments

I got the same answer Goodwill=14

I've got the same answer i believe.

@marjangogoski said: 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

I've got the same answer for goodwill.

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

The co used 10m of its own shares @6.8 as consideration to pur 80% of sub. That almost got me. However: The real focus is scoring marks and not necessarily getting the right answer. The marker will award you marks.

current issue was a big problem for me

@marjangogoski said: 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

Same answer also! Uk variant if that makes a difference perhaps the question was different to others

NCI IN FAIR VALUE METHORD IS ALWAYS MORE THAN PROPORTIONATE METHORD.ACCORDING TO ME NCI WILL BE 17

Wait the 10 million shares was the number of shares the company had in total?

Goodwill Consideration 68 Contingent consideration (16x25%) 4 Nci (20×20%×4.25) 17 Net asset (70+5 ) (75) _____ 14 Dr GW 2 Dr Land 5 CR NCI 3 CR OCE 4

Thats what I got

Guys please stop discuss the answers, some of us will commit suicide, this paper was difficult.

Stop reading the forum then.

Anyone who wants sbr ppr of this attempt? I have one of my friemd shared dont know from where

@anthonyrobson said: But as regards to the whole exam... where was the big consolidated statement!?!? I felt like I was writing a series of essays not doing an accounting exam, my hand was cramping beyond belief. hopefully on the resit there is a big consolidated statement question because I actually find them quite fun to work through...

The big 35 mark consolidated financial statement questions have been removed from the exam. https://www.accaglobal.com/uk/en/student/changes-to-exams/professional-level.html

Was the CF on Daveed car retailer?? Got a copy of the paper want to check if the one i have is a specimen or the paper u sat...thkss

That was the paper!’ Do you have a copy of the answers aswell?

@rachelmin said: That was the paper!’ Do you have a copy of the answers aswell?

I downloaded yesterday's question paper from ACCA's website today. The answers haven't been released yet.

@zhangcc said: 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...

https://www.investopedia.com/ask/answers/033015/what-formula-calculating-free-cash-flow.asp

@rachelmin said: That was the paper!’ Do you have a copy of the answers aswell?

Only the Qp.

i forgot to make entry for FVA ..but i included that in calculation ..how many marks to explain 1 point? i wrote some lines wrong in pressure at many places in exam, i found Q1 (II) difficult question 2 was ok question 3 was ok but didnt knew about integrated report much but somehow i managed to do that question 4 was difficult specially cashflow only thing i left with is to pray now :/