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@cward said:
Silly question but what variant are you discussing here?My workmate has just sat this paper and I don’t think it went too well. He was convinced that he had an International exam paper even though the cover stated UK as it was asking for Statement of Income instead of Profit and Loss, currency in $ not £ but the questions seem to be the same as you’re discussing.
I’m due to sit this in December so please let me know any tricky areas that need more attention
Was your colleague aware uk paper is now ias? As of june sitting it was based on international standards with comparison to uk
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Found this paper very hard – was completely blown away by Qn 1. Qn. 2 was very do-able. Qn 3 I was starting to struggle for time – just put in what I could quickly do – Qn 4 and 5 – was really running out of time.
Managed the Basic EPS and got thru half of the Diluted calculation – hopefully half marks at least.
Gonna be really tight on the results – cross the fingers!@nat031188 said:
and there was no goodwill in consolidation this timei think you need nci goodwill to calculate nci…
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It was too much to do in just three hours.I did not understand the Q4 point a,just didn’t make any sense at all.
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i did not include the sales and received delivery after year end 31 march 2011 in question 2. Is that right? Those items do not affect the position of the company at year end right?
Paper was ok, Q2 was tougher then Q3, but how in the world the examiner expects us to finish all these in 3 hours, its really tough.
Hi all well what can i say it was ok paper as many have mentioned TIMING!! OMG TOO MUCH TO DO IN 3 HOURS. Few areas would like to confirm. The depreciation of 1000 was a reduction so you deduct from cost of sales right? The URP was 18000 which i put into cost of sales positive figure. Was there any share preimum? So did anyone get those figures too?
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i did know what was the difference between the fair value method of non-controlling interest and proportion of net assets method. Any1 know the correct answer? I just wrote the valuew will b differnet according to the market value of shares.
Lectures from Open Tuition were very helpful with the matter of goodwill for non-controlling interest. Proportional = no goodwill. Fair value = goodwill.
The exam was very fair. I agree there was extreme time pressure. I hope for the pass. If not, next session I am aiming for global award 🙂
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Found this exam so hard!! No way near enough time q’s took a long time to read and get my head around, Spent way to long doing Q1 & Q2 and then only had around 45 mins for the other 3 left Q3 completely which i now regret as everyone is saying is was easy! Got really stressed with the lack of remaining time and blanked for Q 4 n 5 but gave em a shot 🙁 might carry on revising ready for Dec…
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I think one should just practise doing the questions without thinking at all …
I think the 1.8 min per mark strategy does not work here..@vipulv said:
Hi all well what can i say it was ok paper as many have mentioned TIMING!! OMG TOO MUCH TO DO IN 3 HOURS. Few areas would like to confirm. The depreciation of 1000 was a reduction so you deduct from cost of sales right? The URP was 18000 which i put into cost of sales positive figure. Was there any share preimum? So did anyone get those figures too?Well the market value of the shares of parent co. was given at $4… $3 x no. of shares would be the share premium I think..
@ahmedmirza said:
Well the market value of the shares of parent co. was given at $4… $3 x no. of shares would be the share premium I think..Yes, 80000 x $1 added to SC and $3 x 80000 added to Sprem
this was not a bad paper, but for me time ran out, so i am hoping for a pass. but thank you OT.
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the best way to pass such ACCA exam is to plan your answer properly during 15 m reading, for ex F7 we have easy mark on the exam we have to start with those like:
Q1 4 marks easy within 7.2 m
Q3 25 marks easy within 45 m
Q5 10 marks easy within 18 m
Total easy marks after 1 hour and 11 m is 39 marks , i am sure you can worth 11 marks more to pass the exam from any other area during the remaining time.. good luck- Topics: 0
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Hy!
Did enyone remeber if Q3 was asking about profitability ratios or all types of ratios ?- Topics: 0
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tough questions..which was far harder than [previous.. hoping for 50 ..lets see
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@carl29 said:
what do you mean? There was a goodwill calc in the consolidation? Always isI dont understand why you guys are worried about goodwill that much as it was not necessary at all in this ques as there was no impairment of good will and it’s clearly mentioned in the question not calculate the goodwill though.
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@gts7 said:
It was not difficult I would say. More or less it was better than some of the the past years sets, esp for Q1 & Q3. Time was the main issue here 🙁 I took longer than 45 minutes to do the first q. When u find something do-able u would wanna make sure u really do it right so that u don’t regret at the end of the day on some careless mistakes made in the question. I agree that the paper can be blindly done in 3 hours but the main point in achieving the objective of testing on the student’s knowledge seem to be ignored. I am sure this paper was not intended in testing the student’s speed. We need time to think, plan out answers (as encouraged by the examiner himself) so that proper presentation is there and of course attempting the right adjustments to be incorporated in the statements.The paper was more like training us for F1 racing game 😛
Hoping for a pass though 🙂
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the paper was fair, but my downfall was not having practised construction contracts and EPS.
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too much adjustments .the paper was unique guys ahhhhh
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