*** F7 June 2014 Exam was.. Instant Poll and comments ***

What did people calculate as the goodwill in q1?? Thanks..

I thought that was hard, really ran out of time and couldn’t answer q5 part 2 or 3???

If they had given us the complete requirement including the SOFP for the consolidation it would have been so much easier ……. instead they throw in these sneaky little things that confused me and left me wishing for consolidation of a P/S and A it would have been so much more straight forward …. and where was my cash flow that I worked so hard on omg it wasn’t even mentioned and supposedly it is a big part of F7 WHATTTTT………… I think they just twisted it round a bit to mess with everyone’s heads ….stupid ratios bah haa….. its cruel ……. me personally I think it should have been a 5 hour exam so I didn’t have to rush so much giving us the time we deserve for these types of calculations ………. just because The examiner can do it in 20 minutes really doesn’t give us a hope in hell of completing any question completely ………. time pressure is the fail for 90% of us and its time the examiner stood up and listened to us ……….. he has been doing this for ever we are newbies and in the real world 3 hours wouldn’t be enough to complete those 5 questions ….. hell the company i work for charges over 2grand for consolidation but I get 6mth to prepare it ………. Please respect the newbies give us a chance ………. its all pressure pressure pressure so they get the low pass rates and we have to pay again and keep this going for years and years ……….. nothing fair about ACCA exams …………. I studied my ass off 12 – 16 hours a day for the past 2 weeks plus 4 hours a night over the past 4 months while working full time and still not enough time to think straight or work things out without the pressure of TIME against me ………… I think I should write to ACCA telling them to give us a chance and either reduce the questions or increase the time ……….. ease the pressure a bit and their pass rate would soar ……….. very sad old lady (52 years old with a slower brain than you young ones trying my hardest and feeling like i been beaten with a big stick for the past 3 hours) 🙁

OMG depressed just going to the pub I think ………… i would like to meet the examiner and tell him a thing or two about his exams ……… he may be a great man and ever so intelligent but he has no consideration for us struggling students …………… MORE TIME OR LESS QUESTIONS …………………. ITS ALL PRESSURE 🙁

I skim read the bit about rounding in Q2. I just presumed they wanted the numbers presented as they were in the trial balance.

Don’t tell me I’ve made a howler!

Dec 2013 was much easier…
This one was quite hard for me…very time consuming.
I have only 25 minutes left for Q4 & Q5.

Goodwill in q1anyone please????

Oh No.. My goodwill was negative!

I got the same figures. Do you know what the mistake was?

Yeah the no if shares were 160000 and 64000 were rights issue shares

The thing with the parent subsidiary relationship, was that amount supposed to be added to FV of net assets?

Expecting for Resit as well 🙁 Was expecting CSoFP, and Cash Flows 🙁

I think this F7 exam was ANTI – QUESTION SPOTTERS. I can imagine many people (including me) were expecting CSOFP – with standard balance sheet with ASOC in Q1 – how surprised i was seeing 19 marks P&L.

Q2 wasnt that straight forward – quite tricky tbh. Normally you have plenty of marks for NC assets calculation – which was moved to Q4 (as i remember). Loan included some complication – rest was rather ok.

Q3 – as usually many expected (I assume) cash flows, or at least mix cash flow and discussion, but not whole interpretation question. Tricky complication was adjusted ratios – discussion wasnt so obvious and straightforward.

Q4/Q5 if you were cool headed and knew smth about standards there were marks available.

Overall quite time pressured.

For me its a resit I presume.

Good Luck to All ! 🙂

Who else got the negative goodwil in Q1?