*** F7 June 2013 Exam was… Post your comments ***

<cite> @silvikss said:</cite>
It was very similar to the December 2010 one and I think if you guys have a look at the answers you ll know if you passed or not. I know I didn’t. :((

If comparing my results to Dec. 2010 I think I am pass 😀 u made me happy lol i hope u and i pass

<cite> @donizback said:</cite>
If comparing my results to Dec. 2010 I think I am pass 😀 u made me happy lol i hope u and i pass

Yes but there was that extra complication with ret earn in q1, and probably others too.
I hope u pass i kno i wont cause i time appotioned everything :((

<cite> @anuj428 said:</cite>
1 simple consolidation – no associates
2 single entity income statement, changes in equity and statement of fin position
3 statement of cash flows and interpretation
4 discontinuing operations
5 investment properties

heyy whr r u from???

<cite>@danf1981 said:</cite>
The only hard one was adjustment nr 1 for the consignment inventory

DR Revenue 10000
CR NC liabitilies 10000
DR Finance Costs 10% of 10000 = 1000
CR NC Liabilities 1000

Consignment inventory is tricky as I oroginally took it out of inventory but as the inventory stays in the warehouse there is no need

Don’t you remember that the sale taken place by 1 October 2012, that means the finance costs should be 10%*10,000*6/12?
About inventory adjustment, the question is silient about inventory, therefore, an adjustment is required.

<cite> @donizback said:</cite>
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

No, I’m from Vietnam 😀

<cite>@tilmati said:</cite>
Does anyone know how much marks i will lose for time apportioning(6/12) on balance sheet on Qns 1.

WTH i dont know why i time apportioned it…when i was revising i know we shouldnt but WHYYY DID I DO SO IN THE EXAM HALL?? HELP how much marks will i lose?

I think you would get a ZERO, i m not sure but this is a huge mistake

<cite>@dregazul said:</cite>
int variant

my question 1 balanced on first attempt didnt have to tweak anything to get it balanced
bal figure is 138100 hope its correct its the only thing i got balanced

Hi there, i got that figure for the assets side, however my equity and liabilities didn’t balance off so I’m hoping to score quite a few marks there

Speaking of answers being posted on the ACCA webpage, when does this normally happen? Is it after the results?

This was by the far the most beautiful paper ever written. I have either good very high marks or very low marks which is worrying but atleast 2 of the questions were copied from 2010 or 2011 papers so i just memorised the answers. Definitely the discontinued question and investment property questions were exactly same scenario in past exam paper so if you havent seen it before, it means you havent bothered going through most past exam questions.

what happens if we only managed to do only 3 first questions only??? 🙁

Q4 & Q5 unexpected… Very time constrained.. Made few silly mistakes… Not sure if I will pass or not 50:50

Consideration 12000
Loan note 1500
NCI 6000

TOTAL 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

<cite>@gospelqueen said:</cite>
Consideration 12000
Loan note 1500
NCI 6000
TOTAL 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

I did the same but I was guessing RE figure, can u tell m w any amount of logic why u used that figure and I got 45000$ for gwill. did u CSOFP balance coz me I didn’t addup . and if we are wr
ong on the gwill figure how many marks do u reckon we have compromised. ie lost.