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Oh dear mkshah! The balance sheet amounts are NEVER time apportioned. The balance sheet is “as at a moment in time”
<cite> @captmario said:</cite>
those adjustments in Q1 and Q2 were weirdest adjustments i ever came across, let alone the unexpected Q4 and Q5same here bro… the adjustments were harder than the mind f****ng riddles!
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That was such a hard exam too many questions too little time ridiculous!!!!!
in first question isn’t loan should be added to consideration ?? as it was to shareholders not the sub ???
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it was not enough time to finish; I knew EPS and interpretation of ratio but not enough time to do this; all Q1-Q3 finishhed (without last points 5 marks each ) but no balances (I did not have time to search the errors; I made a lot of workings , hope it will be good and enough to pass…
investment property -i did not remenber -cost model and no sure identified the differences<cite> @rhythm said:</cite>
in first question isn’t loan should be added to consideration ?? as it was to shareholders not the sub ???i don’t know..but i did not include it in my purchase consideration.:D
<cite> @rhythm said:</cite>
in first question isn’t loan should be added to consideration ?? as it was to shareholders not the sub ???I did not include the loan as it’s I didn’t think it was purchase consideration- it’s just an investment as you get the money back.
<cite> @kriselda said:</cite>
10000 is correct but you had to time apportion for half year so 10000×6/12 5000 all preacq was 5000-2000= 3000No, because they stated that pre-acq had 2000 losses, so entire 10 mil was post-acq
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About loan issued to acquire sub’s equity, I’m sure that it should be taken into consideration. Some said that it’s just an investment as you get the money back. This is wrong, coz you issued loan note, meaning that you must pay interest exp, not received interest income.
The thing make me most confused in this paper is that the provision for directors’ bonus should be treated as exp., or extract from Retained earning. Some said firmly that this should be treated as an expense, but if you do some search, you can see that in many circumstances (in real, not exam), these bonus is taken from RE. But in the question, the bonus is calculated based on sales, so i still wondered.- Topics: 0
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Those were the hardest questions I’ve done. Many weird notes as per the others had said..
Frankly, I’d never done any “post, pre-acquisition value”, “sales you can buy back in 3 years” and my workings is a mess..
Ratios cal for just 4 points?? Just scribbled some lines for Q4 & 5 like in the last 5 minutes?
I think I did really badly.. (???)- Topics: 0
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I’m just hoping I have done enough to pass, the questions really threw me. There were very tricky things in there and stuff that I wasn’t sure about. My answers are totally different to a lot of comments made here.
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The unrealized profit is 4,600/115%*15% = 600. That’s all. No need to eliminate intra group transaction, coz we are do CSOFP, not CSOCI.
I also wonder about the normial markup of 40%, but perhap it is not related, just a trap, hope so.
<cite> @kriselda said:</cite>
it says that for every share 1000 shares it acquired issued 100 loan note he has acq. 20000×75% x 2/5 as it stated in the beginning that for every 2 shares it acq from subs he issued 5. anyway wish you good luckwe have a 76% subsidery bro, so 20000 shares* 75% comes to 15000, the 2/3 part is only for the share exchange not for the loan notes u check the bpp kit it has 2 question of same kind 🙂
<cite> @adman50 said:</cite>
I did not include the loan as it’s I didn’t think it was purchase consideration- it’s just an investment as you get the money back.bro u needed to include it in the purchase consideration check the past papers there is a similar kind of question already been asked
<cite>@resh10 said:</cite>
I’m just hoping I have done enough to pass, the questions really threw me. There were very tricky things in there and stuff that I wasn’t sure about. My answers are totally different to a lot of comments made here.bro everyone is telling what they did no one is sure about his/her answer so keep praying and be confident best of luck I hope u will pass InshAllah
Question 1 and Question 2 got 5 marks for writing questions! suck…….can’t earn calculation marks more!
How to deal with negative goodwill ? omg
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When goodwill is negative figure, it should be treated as an item which reduce operating expense.
I remember there is a question on this matter in BPP revision kit.
But in Q1, goodwill is positive, so why you care about this?
<cite>@phuongntn89 said:</cite>
When goodwill is negative figure, it should be treated as an item which reduce operating expense.I remember there is a question on this matter in BPP revision kit.
But in Q1, goodwill is positive, so why you care about this?
My teacher said that if goodwill is negative it will be the other income, because you can buy the subsidiary more cheaper and it will be your income :v
Howerver, in Q1 GW is positive, and we should’n care about this 😀
<cite> @kynhonglongbong said:</cite>
My teacher said that if goodwill is negative it will be the other income, because you can buy the subsidiary more cheaper and it will be your income :vHowerver, in Q1 GW is positive, and we should’n care about this 😀
Are you in Malaysia? If yes then teachers will just say things they assumed. I didn’t like the way they teach our teachers didnt even teach us full syllabus, Malaysian education sucks
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