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<cite> @salahuddin88 said:</cite>
hi guys can some body give me fair suggestion,,that i did Q1 AND Q2 full with some minor errors,but i did the adjstments quit nice for both,,i did cashflow but very good,,i did calculate only ratios for the third question part two, i didnt interpret the ratios,,in q.4 i did wrote the theory of discontinued operations and the scenaioe,,but i left the question in part b…i also left q5,,part b,only theory in part a of investment properties,,,could i pass the paper?Dont worry you have attempted enough now it depends on q.1 and 2 if you can get good marks in those then you have a fair chance of passing. Although you should have interpreted the ratios because its of immense importance
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<cite>@danf1981 said:</cite>
I think the only thing incorrect here is the cash sum20000 x 75% x MV of shares at date of acq which I can’t remember
<cite> @kudachikanza said:</cite>
show and enlightern us how u got that number for gwill.I just thought if when FV of the plant etc. is in excess of its carrying amount you would add it to the sum of the net asset you would do the opposite when it is BELOW
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<cite> @captmario said:</cite>
Provision is liability<cite> @jassi said:</cite>
hi ….. that was a very time constrained paper…..Q1 – CSFP – P&S – reclassify assest held for sale (discont ops) – with a gain of 200 in p/l?
other comp inc. gain on land (2000+7000 builidings)??Q2 – p/l, socie, & sfp – with bonus issue,
revenue 540m? 550m – 10m maturing goods sale
COS – 416900 – adjust for 7m cos for maturing goods, + depn 2500 building and 9900 plant?
asset held for sale – 4200Q3 casflow – net decrease od 1250?
Q4 – IFRS 5 – whats a discont op?
how would it be applied to scenario – redunacies, treatment of assets held for sale and leaseQ5 – IAS 40 – inv prop – what is it – how does it differ from normal
Q5b – how would you apply it to sceanrio
what did you guys get
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Hi, I am writing this paper in December. May someone please send me a study text for either Kaplan or BPP
my email is vaalnavia@yahoo.com- Topics: 0
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in the Last question i applied first one was discontinued operation and the second one wasn’t as it was going to be refurbished plus pre AR was negative in first one. I reversed debtor factoring is it correct ?
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<cite> @donizback said:</cite>
I don’t get u, there was a loss on pre Acq. Retained earnings and then there was a profit figure for 8000 so 6 months pre makes it 0 lol what do you think?Yeah, I think the same. I also considered the distribution of ret.earning over 6/12 m, but the questions indicated the pre-acq. ret. earning as (2000). So I deducted it from net asset acq. As of that, post-acq. should be 10000.
<cite> @gt0707 said:</cite>
the depn is less from retained earnings, yeah its post acqI got the same.
<cite> @heartbreakkid said:</cite>
I got this ….I also got this. I just hope I did it correct, as in the end, my FS wasn’t balance. I didn’t recalled anything from disc. op and just answer Q.5 out of instinct. CF wasn’t too good also. For Q2, I think I messed up with EPS as one should calculate a weighted average EPS based on shares no. before and after share issue, which out of hurry I just devide ret. earning over total shares at period end.
Always do bad at fin. mgmt.- Topics: 0
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Time allowed per question is note enough!!! So many adjustment around six for Q1, 2, and also 3.. You wonder what ACCA is testing, Speed or knowledge
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couln’t finish with the questions.was not able to tackle the Q5 at all.The time was limited
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Q1 CSFP was manageable, though a bit too technical as compared to the usual scenarios; generally I think the paper should have been a 4 hours and not a 3 hours paper
<cite> @batman1993026 said:</cite>
Also Q5 was poorly done, I put the gains on investment into OCI – FML!!!Your answer is right. I’ve redone the calculation again and it is the same as i got in the exam. the other folks don’t just understand. I got 500 for G/W. Don’t be discouraged and don’t listen to the others.
<cite> @batman1993026 said:</cite>
Messed up the G’will calculation by the sounds of what everyone got!Consideration: 12,000
Loan Notes: 1500
NCI : 6000
_____
19500
Less:
Share Cap (20,000)
Pre Acq ear’ (2000)
FV Adj 3000
_____G’will 500
Hopefully should receive some marks from that!
Your answer is right. I’ve redone the calculation again and it is the same as i got in the exam. the other folks don’t just understand. I got 500 for G/W. Don’t be discouraged and don’t listen to the others.
<cite> @sherri said:</cite>
Your answer is right. I’ve redone the calculation again and it is the same as i got in the exam. the other folks don’t just understand. I got 500 for G/W. Don’t be discouraged and don’t listen to the others.Let me put it this way;
Consideration: 12,000
Loan Notes: 1,500
NCI : 6,000
_____
19,500
NA of sub at acqn:
Equity shares 20,000
Retained earnings 2,000
(ie. (2,000)+4,000 post-aqcn)
FV adj (3,000)
_____
19,000
_____
G/W in CSFP 500So, same thing as @batman1993026
<cite>@gospelqueen said:</cite>
Consideration 12000
Loan note 1500
NCI 6000TOTAL 19500
FV of N/A @ DOA
SC 20000
RE (2000)
FV adj: ( 3000)
Total (15000)Goodwill 4500
This was what i get. Did any one get this
You forgot the post-aqcn retained earnings of 4,000 (8,000/2), therefore 4,000 + (2,000) = 2,000 (positive value). If this is not the way u look at it, remember that the exam paper says that the directors accepted the (2,000) loss as the basis for the pre- and post-aqcn retained earnings value. This means IGNORE the (4,000) at 1 April 2012. Also, all fair value adjustments except for plant of (3,000) were not at acqn date but existed at consolidation date.
<cite>@danf1981 said:</cite>
No the amount was given in the question as they agreed on the date they purchased the sub that the loss was 2000. Thats the acquistion figure then the figure on the balance sheet showed the retained earnings for the year end. They like to trick you
in these exams esp in question 1 as its the firstU r very right. I agree with you and i applied it in the exam.
if you all got about (11,000) as the net asset, deducting it from the cost of investment and fair value of subsidiary should push the good will higher than even the cost of investment. i.e. shouldn’t the negative net asset of subsidiary have been added to the cost of investment??? Not quite sure though,but the goodwill value was quite higher than the figure you guys are quoting.
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F7 was very tough.
<cite> @abolaji said:</cite>
if you all got about (11,000) as the net asset, deducting it from the cost of investment and fair value of subsidiary should push the good will higher than even the cost of investment. i.e. shouldn’t the negative net asset of subsidiary have been added to the cost of investment??? Not quite sure though,but the goodwill value was quite higher than the figure you guys are quoting.Nope. You are wrong
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where can i get the solution of F7 exam? or how long it takes ACCA to upload the solutions?
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