AAA*** December 2022 ACCA AAA exam – Instant Poll and comments ***

Hi , in Q1 can any one remind if the goodwill procedures was in the overal procedures on the goodwill or the question specific to the expert who done valuation of the acquisition? I have wrote the whole procedures involved to do the goodwill . Tx

Q1 was on pet store- busn risks, Romm, matters to b considered wrt outsourced credit control, audit procedures, Q2 prospective financial info Q3 audit completion leasing&inventory

I found paper easy but never know how could be the outcome Q1 Business Risk ROMM Outsourcing affect on Audit planning Audit procedures on Holiday pay Q2 PFI a) Matter before accepting the Audit engagement b) Audit procedures on PFI Q3 Matter on working paper file IFRS 16 Leases but the scenario is on not charging depreciation according to IAS 16 Inventory where the company has recorded the inventory on cost which is less than the NRV I attempted 2ndf question first and completed within 30 minutes and than start writing the 3rd question and completed within 35 minutes so I have enough time for question 1 and completed my paper by the grace of God This was my exam I hope paper was easy and I completed my exam. Hope for the best

Hi! How did you guys tackled question 3? Lease and inventory? I could only identify the wron depreciation and that all ?

I'm not sure if i did the right thing For lease, i managed to identify that it is incorrect to depreciate over 6 years instead of 7 years . For inventory, since the inventory could be returned to the supplier, hence the entity does not retain the ownership until it is paid for. I indentified it as a consignment arrangwment where it will be inappropriate to recognise it as our own inventory(like hypermarkets) can anyone tell me if im right?

Anyone unable to sit the AAA remote exam? I was told a number of people were affected as well as me .

Anyone received this email? Damn, i have done well for this exam but why i received this email? My examinations will be cancelled and repeat or what? "We are aware of an issue that may have impacted your remotely invigilated exam today. Please accept our apologies for this and we are currently investigating next steps. We will issue further instructions via email by 1pm on Wednesday 7th December 2022. Please check your emails regularly for updates. Yours sincerely Ian Gray Head of Exam Delivery"

You are right brother..I received it too! I don't want my exams to be rescheduled or something

I got that email also. I did have an issue logging in and was extremely stressed. But I kept trying and eventually got on. I don't ant to have to take the exam over!!!! Only would if i get the same questions and what ive already submited

I had a tutor that said assume anything they tell you in the exam is wrong! So i said is was incorrect to not charge depreciation, hope i pass this is my last acca exam

Can you detail the issue.I had a similar issues. After being in a queue it showed your turn... But it took several minutes. So I logged in again.

My exam was at 11:45 but I was allowed entry only after 12:05

I had same issue, could not pass the system test, it was an issue with the ones invigilating the exam. Eventually after ringing them and ACCA my exam login window had closed, so could not sit the exam, had to withdraw and rebook for March, due to doing the UK variant. Very annoyed.

Yes, the last step of pre exam check failed due to some "websocket connection". Tried on 3 different laptops, different wifi connections and even wired connection and nothing. Gutted! Absolutely gutted i couldn't start the exam. Hopefully will be rescheduled for very soon, don't want to leave it till March

It was on whole procedures on the goodwill, but i have also included that we need to obtain evidence of the expert competence etc etc

Have they confirmed that UK version can't be done next week? I thought there is an option to do it next week. I am going to check tomorrow morning (as somebody from ACCA advised that we will be able to book it for next week after 24hours)

Thought it was a pretty tough exam for an audit paper. Distinct lack of testing over a number of expected areas Q1 on a consolidation, so goodwill ect, business risks and ROMMs Q2 on defined benefit plans Q3 on post issuance reviews Maxed out my presentation to see if I could bag the professional marks. This was a second time sitting for me. I put the work in so have fingers crossed now!

I got these questions

AAA sat in centre - International Version Q1 - Basically pets at home A) Business risk 8 marks B) RoMM 18 Marks C) Outsource Credit Control team 7 marks D) Audit Procedures on Holiday Pay 7 marks Q2 - Completion Matters A - Leases 9 marks Inventory - 7 marks B - audit opinion implication if Lease not corrected 4 marks Q3 - Non audit service and Assurance A) Engagement considerations 10 marks B) Capital Expenditure examination procedures 10 marks Tough exam, especially C if you don’t do that line of work. First question tricky as industry was quite niche but hopefully the 20 professional marks up for grabs will help !

Unfortunately, UK version is not available to rebook. I have checked with ACCA today as I was unable to take the remote exam.

I had technical issue could not pass the system test due to web socket connection issue, managed to speak to them but they said there is no uk variant available for next week and I have to do it in March and they withdrew my some and refunded. Later in the evng got an email about the technical issue from ACCA. Won’t know what will happen next since I already withdrawn will I able to rebook?

Was the goodwill paper the UK variant?

that is rather ambiguous , i received it aswell!

Bro to be very honest that was the easiest paper in P7 history and I hope who has received this variant may passed

Goodwill came in Q1 procedures . Doing International variant not UK

I had technical issues sitting remotely so was unable to sit the exam :( hoping I can book for next week!!

What all did you guys wrote in ROMMs? I didn't found much to be honest. My friends too complaint about the same issue. What was the issue with the artwork capitalisation issue??? And what all ponits did you pointed out in audit report questions?

If I am correct as I remember the issue with artwork PPE was used to the revaluation model and charged to profit/loss . This is to boost profit as it has no sales and profits .. it came to my mind how they revalue PPE if this not generating sales and revenue. I appreciate any one had the same Exam to share his thought . Tx

My paper was: 1: home appliances company Business risks ROMM Audit procedures Role of audit committee in regards to external audit 2: Pensions Ethics and professional issue 3: Faraday co Quality management Ethics and professional issues

which Revision kit do you recommend Kaplan or BPP if you use Open tuition notes? My first attempt for AAA is March 2023.