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

@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.

@marjangogoski said:
Consideration 68
Contingent consideration 16×25% =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

I agree. I also got 14

Goodwill
Consideration 68
Contingent consideration (16×25%) 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

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

Stop reading the forum then.

My first exam sitting for 3 years,

I did University, got my exemptions from the F papers and literally didn’t do anything for 3 years except for work but decided I should really complete my studies now… only got 4 exams left… oh you know what? i’ll try and do that SBR first (no idea why i didn’t do SBL first)

So yeah i kind of see that exam as a trial run as I am certain I will be back in 3 months time doing the resit

I sat the UK Variant (mainly because I want to open my own practise later on in life and apparently you need to pass the UK variants of these exams for the certificate? correct me if i am wrong) and I would say there was probably around about 10 achievable marks for UK specific answers. It gave a scenario about Intangible assets and development costs and you would have to identify why the situation would be different under FRS 102.

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…

Anyways, see y’all for the resit in Newcastle 🙂

@jeromeb said:
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

Yeah maybe if i read that i would have knew, thank you
I wish i got myself into gear and sat the exam before this change because i would much rather do a big calculation than whatever it was i sat yesterday i’m just hoping the examiners don’t go harsh lol

@anthonyrobson said:
My first exam sitting for 3 years,

I did University, got my exemptions from the F papers and literally didn’t do anything for 3 years except for work but decided I should really complete my studies now… only got 4 exams left… oh you know what? i’ll try and do that SBR first (no idea why i didn’t do SBL first)

So yeah i kind of see that exam as a trial run as I am certain I will be back in 3 months time doing the resit

I sat the UK Variant (mainly because I want to open my own practise later on in life and apparently you need to pass the UK variants of these exams for the certificate? correct me if i am wrong) and I would say there was probably around about 10 achievable marks for UK specific answers. It gave a scenario about Intangible assets and development costs and you would have to identify why the situation would be different under FRS 102.

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…

Anyways, see y’all for the resit in Newcastle 🙂

In Ireland I think you only need to do the Irish version if you want to work as an auditor, but not sure if its the same in the UK.

Agree with the cramping hands, mine is still sore today! I’ve sat 15 ACCA exams now and this was by far the worst my hands felt after!

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

@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

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 :/