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*** F7 December 2014 Exam was.. Instant Poll and comments ***

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › *** F7 December 2014 Exam was.. Instant Poll and comments ***

  • This topic has 194 replies, 72 voices, and was last updated 10 years ago by Elitsa.
Viewing 25 posts - 76 through 100 (of 195 total)
← 1 2 3 4 5 6 7 8 →
  • Author
    Posts
  • December 3, 2014 at 11:26 pm #217122
    Rusgazeboz
    Member
    • Topics: 3
    • Replies: 94
    • ☆☆

    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)

    December 3, 2014 at 11:32 pm #217124
    Sarah
    Member
    • Topics: 4
    • Replies: 23
    • ☆

    @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.

    December 3, 2014 at 11:36 pm #217126
    arman90fy
    Member
    • Topics: 8
    • Replies: 23
    • ☆

    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 ?

    December 3, 2014 at 11:37 pm #217129
    Sarah
    Member
    • Topics: 4
    • Replies: 23
    • ☆

    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!

    December 4, 2014 at 12:03 am #217134
    nisha
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    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.

    December 4, 2014 at 12:13 am #217137
    Zongo Arnold
    Member
    • Topics: 2
    • Replies: 17
    • ☆

    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…..

    December 4, 2014 at 12:35 am #217143
    Rusgazeboz
    Member
    • Topics: 3
    • Replies: 94
    • ☆☆

    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 🙁

    December 4, 2014 at 12:37 am #217144
    Rusgazeboz
    Member
    • Topics: 3
    • Replies: 94
    • ☆☆

    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!

    December 4, 2014 at 12:41 am #217145
    Rusgazeboz
    Member
    • Topics: 3
    • Replies: 94
    • ☆☆

    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.

    December 4, 2014 at 12:58 am #217149
    ssKhan
    Member
    • Topics: 2
    • Replies: 6
    • ☆

    @arslan14 said:
    Huh, Not enough time!
    Wasn’t the easiest paper by any means, MCQ’s so tricky.

    December 4, 2014 at 12:59 am #217150
    ssKhan
    Member
    • Topics: 2
    • Replies: 6
    • ☆

    ARSLAN can you please send me an email at glamour199@yahoo.com

    December 4, 2014 at 1:00 am #217151
    arman90fy
    Member
    • Topics: 8
    • Replies: 23
    • ☆

    Wish u all the best sister . May God bless you…

    December 4, 2014 at 1:00 am #217152
    ssKhan
    Member
    • Topics: 2
    • Replies: 6
    • ☆

    Irfan, do you have time to come online into the chat section please. email me at glamour199@yahoo.com when you get free. thanks

    December 4, 2014 at 1:21 am #217157
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23309
    • ☆☆☆☆☆

    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

    December 4, 2014 at 1:40 am #217162
    Rusgazeboz
    Member
    • Topics: 3
    • Replies: 94
    • ☆☆

    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?

    December 4, 2014 at 3:20 am #217173
    ovi
    Member
    • Topics: 0
    • Replies: 4
    • ☆

    MCQ about impairment the answer was 154545 probably ….

    December 4, 2014 at 3:27 am #217175
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 4
    • ☆

    Why isnt the instant poll coming up about how was the exam ???

    December 4, 2014 at 3:29 am #217176
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 4
    • ☆

    How do I get to see the poll ?

    December 4, 2014 at 5:48 am #217182
    Natalie
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    @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

    December 4, 2014 at 5:50 am #217183
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 23
    • ☆

    Why everyone is saying 154 545…..Can somebody recall what was the 4th component in CGU…goodwill, ppe, patent and?

    December 4, 2014 at 5:56 am #217185
    Natalie
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    @aichi Not sure but it must have been a current asset (also got154545)..

    December 4, 2014 at 6:40 am #217187
    riskyguy
    Member
    • Topics: 6
    • Replies: 97
    • ☆☆

    @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!

    December 4, 2014 at 7:45 am #217193
    Skandie
    Member
    • Topics: 0
    • Replies: 8
    • ☆

    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?

    December 4, 2014 at 7:58 am #217197
    riskyguy
    Member
    • Topics: 6
    • Replies: 97
    • ☆☆

    @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

    December 4, 2014 at 8:00 am #217199
    Skandie
    Member
    • Topics: 0
    • Replies: 8
    • ☆

    @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)

  • Author
    Posts
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  • The topic ‘*** F7 December 2014 Exam was.. Instant Poll and comments ***’ is closed to new replies.

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