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.
- AuthorPosts
- December 4, 2014 at 8:04 am #217200
@riskyguy said:
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 thisMade the same calculations with loan, but added 1k back to RE
December 4, 2014 at 8:22 am #217207What did you get the balance on Q3 aproximately? OR goodwill, or any workings number if anyone remebers. Thanks.
December 4, 2014 at 8:24 am #217208no. it was 154545 number. Option A.
December 4, 2014 at 8:35 am #217211need to add to share capital and share prenium of Parent. The amounts were 4800 in share capital and 9600 in premium.
December 4, 2014 at 9:53 am #217225I agreee. Made the same calculations. Did anyone accrued the interest on cash consideration on 9 Months?
December 4, 2014 at 10:19 am #217235AnonymousInactive- Topics: 0
- Replies: 9
- ☆
Tatia, right, unwinding discount was based on 9 months
December 4, 2014 at 11:01 am #217275Hii
Im planning for p2 exam y june 2015.
Are there any whatsapp group?
If there is any whatsapp group please add my number 00971561215455
Regards,
Moataz Aly
December 4, 2014 at 1:24 pm #217323Just after one day, the questions are on the ACCA website.
December 4, 2014 at 1:36 pm #217327December 4, 2014 at 2:49 pm #217367I was confused if 100 depreciation of FV movement in Q3 needed to be included in CoS or it was already deducted after acquisition?
In addition, how did you deal with revaluation of 600 after acquisition?December 4, 2014 at 3:02 pm #217375@Beyagala said:
Just after one day, the questions are on the ACCA website.Cant find it
December 4, 2014 at 4:36 pm #217463The exam paper you must click on INT under on the right hand side of the ACCA page
December 4, 2014 at 4:36 pm #217465Would love to know Sir Mike’s opinion on whether MCQ were harder / trickier than the specimen exam.
December 4, 2014 at 4:51 pm #217483@gazeboz said:
The exam paper you must click on INT under on the right hand side of the ACCA pageThanks, got it!
December 4, 2014 at 5:25 pm #2175442 A
3 A
5 C
6 B
8 D
9 A
11 A
12 A
14 C
15 A
16 B
20 DMcq’s, the ones i THINK i got right.
And if they are wrong, then I can imagine what happened with those that i THINK i didn’t get right!December 4, 2014 at 5:36 pm #217561@amaldeh said:
I was confused if 100 depreciation of FV movement in Q3 needed to be included in CoS or it was already deducted after acquisition?
In addition, how did you deal with revaluation of 600 after acquisition?I included the depreciation in COS then subtracted from NCI. One mistake I did was deducting URP from NCI calculation, it was a sale from P to S so did not have to deduct, I hope the markers give me some marks for NCI and dont just cross it all.
December 4, 2014 at 8:32 pm #217693could u pls share link? i can not find it
December 4, 2014 at 8:44 pm #217703@skandinav said:
could u pls share link? i can not find itDecember 4, 2014 at 9:18 pm #217711Hey there! Did you use your 15 minute reading time to do MCQ then transfer answers over when allowed? It worked well and will do this tomorrow for F9 🙂 I really want Mike to check the MCQs for F7 so I can see how we did – but he is very busy
December 4, 2014 at 9:52 pm #217720riskyguy,
Here are my answers to the MCQs (quite a lot of matches :))
1-a
2-c – options 1 and 4 will be included in the calculation of basic EPS anyways
3-a
4-c
5-c
6-b
7-d – a secured loan?
8-d
9-a
10-d
11-a
12-a
13-b (not sure though)
14-c
15-a
16-a (bargain purchase)
17-b
18-d
19-b
20-dgood luck all 🙂
December 4, 2014 at 10:31 pm #217734AnonymousInactive- Topics: 0
- Replies: 9
- ☆
My answers:
1 – a
2 – c
3 – a
4 – c
5 – b
6 – b8 – d
10 – d
11 – d13 – b
15 – a
16 – a
17 – b19 – b
20 – dDecember 4, 2014 at 10:37 pm #217738Here were what I put, think I got 14 out of 20
1b
2c (prob D)
3a
4c
5c
6b
7d
8d
9a
10d
11d (prob A)
12c (prob A)
13b
14c
15a
16a (prob C)
17c (prob A)
18c
19d
20dDecember 4, 2014 at 10:44 pm #217740AnonymousInactive- Topics: 0
- Replies: 9
- ☆
I think the 5 MCQ answer is B because DT on revaluation is accounted within Equity reserve (together with revaluation of NCA)
December 4, 2014 at 10:49 pm #217741AnonymousInactive- Topics: 0
- Replies: 9
- ☆
In question 11 we had to multiply by nominal rate, not effective. Thus, correct answer is D.
December 5, 2014 at 5:26 am #217778AnonymousInactive- Topics: 0
- Replies: 10
- ☆
Answer to MCQ 11 should be A. The liability component is calculated as the PV of future cash flows discounted at the market rate for a similar bond without the conversion rights, i.e. 8%.
- AuthorPosts
- The topic ‘*** F7 December 2014 Exam was.. Instant Poll and comments ***’ is closed to new replies.