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

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

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

tosino wrote:My paper was:

I had the same variant as you

Was quite surprised that Q2 and Q3 had ethics and professional issues inside, the accounting on the other hand was quite difficult with Q1 being groups consol and Q2 pensions.

Also wasn’t sure if the audit committee question was general theory

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

Hello, i also had this question. Do you remember what the artwork was? Was it a building or land or brand?? There was no determined use for same??

I personally think i messed up on this part. Not capitalising it as you stated was the correct answer imo.

Shivanisingh0172 wrote:There was procedures for goodwill calculation on acquisition
Expansion was through two subs. One was planned to happen one month before reporting date.<br>There was a portion on advertisement and refurbishment cost<br>Fees paid for consultancy services offered by the previous cfo<br>New NED<br>Marketing brand and refurbishment of stores<br>Loan for refurbishment<br>Also the revenue and profit projections were 50%+ higher than previous year<br>Also data analytics- There were claims that couldn’t cross 1500, the ones that did had to be authorised. There was one outlier Someone was making travel claims for 1488 or something<br>Also materiality was on revenue but because of unusual increase in profit and revenue we should take it as PBT right?<br>advertising was put as intangible assets<br>You can make a point on overstated profits and revenue Using analytical procedures

I have done same version how do you the exam in general . Is it difficult? I see it too difficult despite I did many mocks

I said that artwork shouldn’t be capitalised as PPE since it’s not part of the running of the business (car sales business) , it’s probably just a fixture and no deprecation is needed. Should be reclassified out of PPE, also said audit partner should know this and allowing this misclassification is wrong and should be rotated off audit as he’s been the partner for over 7 years and should be go for training