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<cite> @donizback said:</cite>
@kriseldathe cost of investment was 13500 and the NCI was 6000. I m totally sure with these two figures
cost of investment was 20000×75%x2/5 times the price i remember the total being 12000 plus 20000×75%x2/5x 100/1000 being 600 plus nci being 6000 totalling 18600
The information on the questions was just plenty: I think, cause the time was really not on my side. well am hopeful didnt complete though
No reading time given, I lost 15 minutes, couldn’t even attempt number 5
It was a complicated paper<cite> @kriselda said:</cite>
cost of investment was 20000×75%x2/5 times the price i remember the total being 12000 plus 20000×75%x2/5x 100/1000 being 600 plus nci being 6000 totalling 18600hehe, you can read my post 😀
<cite> @umerazizch123 said:</cite>
Yeah I hope that is right…I also got 11000 NET assets at Acq….Thank GOD:)FV of sub net asset were 20000
shares 20000
preacq ret ear. 3000
3000 being PPE below its market value<cite> @captmario said:</cite>
what was the goodwill? i could’nt figure out pre and post acq R.E, 2000 loss was pre-acq? and since 8000 was R.E for the year, that would be 10000 for post acqGot the same…
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Got mine to balance 143800 i think
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Very kind paper overall, nothing too difficult at all – nearly got all the first 3 questions to balance but forgot to take the property held for sale out of cost of sales – so time pressured!!!
not enough time!!time constraint!!!and true to that q1 has the weirdest adjustment!!they say carrying amount has a devaluation of 3000 for consolidation.anyone minus the 3000 from subsi’s retained earnings b/f?and take out the additional depreciation charge 500 from the cost of sales?
i have a feeling that i’m going to fail this paper..if only im given one more hour extra i can slowly think about what to do with those adjustments i spent too much time figuring what to do with those adjustments!!never came across them in past year..i had only 45 mins left for q34and was really tired at that time..hands were shaking as i was hungry at that point of time too…acca should increase the time!!!damn!!!Did u ppl take the provision for directors bonus as an expense?and did u ppl take it as a liability or ignored it?
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<cite>@yaohelen said:</cite>
It’s overall hard sitting. Not enough time. I didn’t even read the 5th question!too hard…i havent been able to answer z last question
<cite> @adman50 said:</cite>
Not very happy to be honest but I think I should have done just enough.1) Was weird as it had negative RE at acquisition and the CV was above FV.
2) Some of the adjustments were weird- hoping the financial instrument and provision for bonus were well rewarded. The depreciation calc was a weird one
3) Cashflow managed to reconcile this back- sneaky divident of 550 hidden away! Ratio- hope this was ok.
4) Discontinued Ops- Never seen this before
5) Investment property just BS’d it
I think cashflow may have saved my ass on this exam as that was 15 solid marks- but we shall see.
Defo the hardest paper in a while.
Its true there were many tricky points that very rare have been shown in exams i manage to do q1 fully and it balanced, q2 fully and again it balanced cash flow and again did balance q4 just wrote some rubbish q5 tried to attempt b i hope that the the first 3 give me the marks as i know examiner hates when students dont do Q4 and 5
<cite>@danf1981 said:</cite>
Got mine to balance 143800 i thinkI got 140200
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Goodwill was 11000
15000 shares divided by 3 x 2 x market fair value ( i can’t remember what) plus the Loan notes which were taken away from the 8000 (1500) as they were intercompany were the total investment at cost less the writing down of plant 3000 and post acq depreciation of 1500- Topics: 0
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Discontinued ops was easy – you just had to say it gave a better view of what happens in the business and shows potential investors how the directors run the company blah blah easy 5 marks – its also shown seperately on the P and L
The last question was a gift – investment properties are either held at revalued cost which means they are revalued every year or historical cost less depreciation (IAS 40)
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The only tricky bit was in question three the company repaid its loan notes so it was treated the opposite way in the SCF and steve scott was so sneaky again by hiding a dividend in the retained earnings!! Very Sneaky Steve
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I wouldn’t too hung up about balancing either – you can easily pass without balancing any as long as they can trace your workings back
<cite> @hasanali95 said:</cite>
Did u ppl take the provision for directors bonus as an expense?and did u ppl take it as a liability or ignored it?no i didnt counted as liability as i already deducted in income statement as an expense
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My cash flow statement was balance, i cant really tell how i manage to.
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no no no!! you ignore! there is no such thing as a provision for directors bonus! I think it is illegal to make one
On the question where you had to work out the earnings per share….if your profit figure from the previous question was wrong do you still get the marks as long as you have calculated the earnings per share correctly?
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It was very hard to manage time efficiently for this paper..
I guess many of us couldn’t attempt the whole paper.. 🙁
<cite> @adamrobs said:</cite>
On the question where you had to work out the earnings per share….if your profit figure from the previous question was wrong do you still get the marks as long as you have calculated the earnings per share correctly?As far as I am aware you only get penalised once so, if you have to use your answer in another part, as long as your calculation uses your answer correctly you won’t be penalised again.
I think I had something like 32.2c per share.
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One of the fundamental skills of ACCA is to attempt every question – I think the examiner knows this so this is why question 5 is normally just a gift of marks
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