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Me too for the Inv MCQ question!
For Part B Question 3 Was the apportionment fraction 9/12 months for the subsidiary P&L figures – (9 Months)
@gazeboz said:
Me too for the Inv MCQ question!For Part B Question 3 Was the apportionment fraction 9/12 months for the subsidiary P&L figures – (9 Months)
Yes that sounds familiar to me, I know I did 9 months on one of the questions but can’t remember exactly which one.
I have found mcq more easier than i though. I dont know !! Its may b because of i read alot for mcq. But to b very honest written bit section wasnt good enough at all. Very time consuming, though q4 was mostly similar with past questions. Can anybody tell me what was the mcq answer for 19th q on finance lease ?
I really struggled with the MCQ on Cashflows. None of the answers I kept coming up with were an option. In the end I gave up and guessed, spending far too long on 2 marks!
I could not have said it any better! This is my third sitting and I really just need that 50 marks. Failed by 2 & 3 marks previously, so close yet so far away. Really can’t do this a 4th time.
ACCA should match their question lenght with the time given…. The exam was ok but for it to be OK i think time should have been extended…. To mich tricks for a 3 hour exam tricks in any single sentence…..
Classic example where I could have scored 70% or 40%.. absolutely no clue! Mostly due to the MCQs… I hate them so much! No marks for workings 🙁
I was shocked at a couple MCQs regarding how many workings you need to do to get the measly 2 marks… A couple required 4 to 5 steps just to get the answer! Really tough!
Share exchange was 7200 (number of subsid shares) x 80% (percentage of control we are buying) then divide by 3 multiply by 2 (we give them 2 of our shares for every 3 we buy) then multiply by our Share price quoted in question think it was around $3 per share.
There was also a deferred consideration too, that I attempted to unroll the discount at the period end.@arslan14 said:
Huh, Not enough time!
Wasn’t the easiest paper by any means, MCQ’s so tricky.ARSLAN can you please send me an email at glamour199@yahoo.com
Irfan, do you have time to come online into the chat section please. email me at glamour199@yahoo.com when you get free. thanks
I can’t believe rjb4’s comment about the share for share exchange! Every F7 exam for the last 6 years has had a share for share exchange as the basis for the consideration paid on the acquisition of a subsidiary.
There are 14 (?) examples of it in the free course notes on this site together with a worked example at the end of chapter 8 in the course notes
What have you been doing for preparation for the exam? The mini exercises at the end of the F7 course notes are ideal practice for mcqs as well as for the 15 markers
I was ready for that, Mike! I felt the section B questions OT notes along with BPP revision kit had me well prepared. The MCQs though are so difficult to decipher whilst under time pressure. Very very tricky. Lots of distractors. Cant wait to see the paper when it is released. As far as workings I did not have time to add up the balance sheet or P&L but all my elements were there all referenced etc My question is if I make a mistake but carry it through to the end that would only be a mark or 2 I would lose correct?
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Why isnt the instant poll coming up about how was the exam ???
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How do I get to see the poll ?
@arman90fy i think on mcq 19 fin lease qn answer was dep’n 68k (340/5) 25k lease cost (340-90)*10% and 1yr lease 18*9/12 total 106,5k
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Why everyone is saying 154 545…..Can somebody recall what was the 4th component in CGU…goodwill, ppe, patent and?
@aichi said:
Why everyone is saying 154 545…..Can somebody recall what was the 4th component in CGU…goodwill, ppe, patent and?NRV of current assets!
What about transaction cost in the loan calculation in Q2. there was 30m 9% loan. Previously, they added transaction cost of 1k to P/L expense. Should we have added this 1k back to RE and restate loan as 29k, further calculating interest based on this amount?
@skandinav said:
What about transaction cost in the loan calculation in Q2. there was 30m 9% loan. Previously, they added transaction cost of 1k to P/L expense. Should we have added this 1k back to RE and restate loan as 29k, further calculating interest based on this amount?assuming Coupon Interest was 6% and Market Interest 9%
O/B = 29000
CI = 30000×6% = 1800
MI = 29000×9% = 2610 (Finance cost
C/B 29810 (Non-Current Liability)Finance cost of 1800 was already deducted, you had to deduct 810 (2610-1800) from draft retained earnings.
At least that’s what I did
“they added transaction cost of 1k to P/L expense”
Don’t remember this@riskyguy said:
NRV of current assets!\
Got the same 154,545. Question was
PPE 200
Patent 20
Goodwill 50
NRV current assets 30
the impairment was 100, thus 50 from goodwill, and the other 50 spitted between patent and PPE as 50*200/(200+20) and 50*20/(200+20)
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