*** F7 June 2011 Exam was … Post your comments here and vote in Instant Poll ***

First of all thank u very much to examinator of June F7 paper. U are the most lovely person to me now;)
IT WAS EASY!!! VERY EASY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

aftr attmptng Q2,i was completely lost.couldnt do Q1part 2 very well.hopfully,,,,,i’ll get at leasr 50.crossed fingures.Q4 ws bit hard for me.

well i think the paper was moderate in the level of difficulty overall.
well have sum queries if some1 kind enuf to answer.

Q2.-did we had to adjust COS for the inventory adjustment or only inv balance?
-was tht simply a dividend paid adjustment and no more?adj 1
Q3
-was there a tax paid in operating activities?
-i caculated debtor,payables and inventory days and current ratio are these relevant to SCF?
Q4
were discontd ops had to be adjusted for profit after tax calculation ?

Thankyou

@hassanatcams said:
well i think the paper was moderate in the level of difficulty overall.
well have sum queries if some1 kind enuf to answer.

Q2.-did we had to adjust COS for the inventory adjustment or only inv balance?
-was tht simply a dividend paid adjustment and no more?adj 1
Q3
-was there a tax paid in operating activities?
-i caculated debtor,payables and inventory days and current ratio are these relevant to SCF?
Q4
were discontd ops had to be adjusted for profit after tax calculation ?

Thankyou

Only inventory balance, cost of sales and revenue were not affected by after reporting date events.

Dividend paid should have been added to retained earnings to give the total retained earnings figure b/f to show in SOCIE

Tax paid was in operating activities, the balance i.e. cash paid would be b/f tax add tax charge in income statement less c/f figure

These are liquidity ratios and would be relevant, also ROCE Gross Profit% and Opertaitn Profit should be calculated.

Disconitnued operations should be deducted to show total profit going forward.

F7 was time pressured but Q1 was fairer than the previous sittings. No Associate and no CSFP to worry about.

Others questions were mixed some requiring more detaled thinking about but Q2 had the most adjustments to deal with.

omg….question 2 workings were hardest ever. ran out of time on every question. Then lost it on the last 2…complete disaster 🙁

Hello Peeps. I suggest that as many of us who are aggrieved with the outcome of F7 should log on to ACCA website to register our discontent with the allocated time (3hrs) and plead for mercy during marking of the scripts, who knows, ACCA might just be considerate if they receive droves of complain. I just completed the survey. Please click on the link to complete yours. Please provide a feedback as soon as this is done, good luck to all of us: https://www.accaglobal.com/en/student/exam-feedback.html

@carl29 said:
what do you mean? There was a goodwill calc in the consolidation? Always is

ho carl they had said it categorically that goodwill is not required so where you did the goodwill

@mariumkhalid said:
i spent too much time on consolidation. the examiner did not ask for goodwill yet we had to calculate goodwill for nci.

no my friend goodwill calculation wasnt requied and not needed for NCI as NCI at aquistion was given and all we had to calculate was the NCI share in the post aquistion profits of the subsidiary..

Papers out

was totally lost in the exam

alliejayjr said 23 hours, 12 minutes ago:

Once again, I felt victim to the killer time. Studied like ah dog, perhaps know how to do 95% of the paper but my hands let me down. In my professional career, I have never had to make a decision with that speed and pressure. ACCA is playing the arse!

My point exactly!!!

i salute opentuition for wonderful and great support. The F7 paper wasn’t easy for me. Im praying and hoping God will intervene. It was a disaster.