- This topic has 206 replies, 79 voices, and was last updated 8 years ago by
.
- Posts
It was very hard compared to previous papers especially adjustments in ques 3 relating to finance leasing which were not treated seperately as usually was the case in previous papers and repayment of loan notes which have never featured in previous exams
- Topics: 0
- Replies: 2
- ☆
Paper was funny!
Anybody know 1st two questions of Mcqs answers???
Is it first one 1 and 4
Second one 2 and3??
Is this correct…I have to say that the Examiner came at students from a totally different angle than he/she usually used to, but all in all, it wasnt totally bad. i think the bulkiness of the notes might have been a huge distraction to the students, but keeping one’s calm and analysing the notes helped a lot , especially for the 30 marks question…
was suprised & disappointed q3 is not consol….but when i saw published accounts,im not suprised that it will be hard…MCQ was harder than june paper
Here are my answers for the MCQ
Did anybody have the same answers like me ??
1. C
2. B
3. A
4. D
5. D
6. D
7. C
8. D
9. B
10. C
11. D
12. A
13. D
14. D
15. B
16. C
17. D
18. A
19. B
20. CCan anybody discuss with the below Mcqs answers and I am just picking from my mind????
Hope impairment Mcqs effects Nci,retained earnings and goodwill???
Govt grant to non depreciable land
Unit price*items..Selling price so and so…30%commission …In this Q what is the answer is it 1440 or 1339???
Revenue from contracts….
Is it first two answers???Q no.3 Mcq one and three???-Not recognised as revenue…
I thought this exam was a complete disaster, by far the most difficult exam i’ve ever sat! Got really distracted by the volume of notes and got in a twist on numerous occassions, so much so that I didn’t answer any of Q2 (section B) and only did the P+L and SOCIE on question 3. For the MCQ’s from memory my answers for first 12 were;
1. C
2. D
3. A
4. A
5. A
6. B
7. C
8. D
9. D
10. C
11. B
12. AIn comparison with F8 that i sat yesterday this was just a ridiculously difficult exam and am expecting a score of about 30% 🙁
Finance lease was completely confusing and destroyed everything in this exam, after spending about 30 minutes (started with question 3) about thinking what could have been meant the rest was desaster, I couldn’t concentrate and follow my structure the way I wanted to do it and ran out of time, couldn’t finish the analysis properly 🙁
Hi guys for the goodwill calculation on part B. We should use initial contigent 4000 or 4500? In case od mistake how many marks we lose?
Anyone get similar results to these MCQ?
1 A
2 A
3 A
4 A
5 D
6 A
7 C
8 D
9 B
10 C
11 B
12 A
13 D
14 C
15 D
16 C
17 D
18 A
19 B
20 AOverall, I thought that the Questions 1 & 2 were relatively easy, (simple adjustments and basic explanations of the ratios). Questions 3 on the other-hand was a different ball game and had adjustments which only nightmares are made of.
Selling price with commission I got 1326.
185*2000
322*3000….. I think.@pinkyjovin123 said:
Can anybody discuss with the below Mcqs answers and I am just picking from my mind????Hope impairment Mcqs effects Nci,retained earnings and goodwill???
Govt grant to non depreciable land
Unit price*items..Selling price so and so…30%commission …In this Q what is the answer is it 1440 or 1339???
Revenue from contracts….
Is it first two answers???Q no.3 Mcq one and three???-Not recognised as revenue…
You use the contingent at Acquisition which was the 4000 off the top of my head, as the questions asked to calculate the Goodwill at ACQUISITION.
@michaelmonti said:
Selling price with commission I got 1326.
185*2000
322*3000….. I think.Lower of cost and nrv one we had to take cost the other nrv selling price less commision but dont remember d ans
@mjgn20 said:
You use the contingent at Acquisition which was the 4000 off the top of my head, as the questions asked to calculate the Goodwill at ACQUISITION.Basically^^
You would then record a transaction in the P&L to account for the increase in deferred income of $500,000 (as an expense).
Hmm … It was interesting (not easy), but extremely time-consuming. No time to sketch my calculator this time round 🙂 We’ll see what happens.
I thought the MCQs were moderately awful, Q1 and Q2 were OK, but Q3 was absolutely ridiculous. I got AAAA for the first 4 MCQs which I thought was a bit weird and so probably wrong! I think the pass rate will be below 30%.
Question 1 and 2 and the multiple choices were fairly straightforward. Question 3 had a couple of awkward adjustments (specially the convertible loan…)
aacastudent1986 – i completely mirror your comments.
Especially after focusing on Consolidated SOFP, Construction Contracts, and CashFlow, to find that NONE of these came up in the exam – i was shocked and spend the 15 mins reading time and following 15 mins pinching myself, am i dreaming ??
And to find that CSOCIE came up twice, Q1 and Q3….. this took me by surprise also.
Complete disaster here also. Expecting 30 if im lucky. Im pretty sure i will be resitting in March – If anyone wants to Study Buddy – Drop me a message
🙁
- The topic ‘*** F7 December 2015 Exam was.. Instant Poll and comments ***’ is closed to new replies.