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Paper was fairly decent , time constraint was the issue I guess exam technique needs as much focus as the actual syllabus content .
Q 4 was tricky but q1, q2 was too easy Forgot EPS and q5 was ok but out of time only 80% of Q3 completed
Just another extremely time pressured F7 exam…
I was just sad that I couldn’t show off my skills on producing the full consolidated accounts and a cash flow!
Interpretations.. I have no idea how you’re meant to make up 15 marks! There was not enough info about the actual business to make assumptions. (to comment on the overall performance)
@Diane i feel the same 🙂 studied so hard was so ready for Q1 (SOFP),Q2,Q3 and what i saw just threw me off quite a bit!
@Ruby i was expecting you to be a PrizeWinner this sitting for F7 – sorry to hear about “disaster” – don’t worry you can still pass examOnce again good luck to all ! Don’t give up.
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Same prb with me same figures
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I got nagative goodwill -56100
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I got 73,000 for the goodwill
Q1 goodwill – 73,000
Q2 Shares Given on trail balance $56,000 already recorded right issue. Thus original shares 160,000 shares ($40,000)
Right issue 64,000 shares ($16,000)
And share Permuin (64,000 x (60 cents – 25 cents)
Original share permiun I forgot. Whatever amount on trail balance minus $22,400 above.Divided I got was $10,880.
EPS = 8 cents though I think it’s wrong 🙁
I still can’t over Q1 being P&L. I was focusing more on SOFP.
Anyway, moving on to F8 tomorrow.- Topics: 0
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It was tricky but to be sincere, a fair paper. I got confused when it done on me that there was no cash flow in the question. I started with Q4, then Q5, Q1, Q2 and Q3 half way ……..pens up!.
It was really time pressured.
Goodwill answer was Positive, Never Negative…..
A pass for me……..I think the paper was generally Ok but in question 3 i was so stuck as ratios and interpretation is a tricky area..!
I have to be honest and the exam was not nearly as hard as I thought. Sadly, I was so unprepared for some of the topics (namely tax and PUP – just can’t get it through my head) that I doubt very much I did well.
Oh well, December here I come! 🙁
I’m wondering why the F7 examiner can never leave his tricks and why can’t he be satisfied seeing us to pass. There was an impairment loss (revaluation loss) in question 4.! Ridiculous June 2014 sitting
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I took def. Consideration 1.54m/1.1 = 1400
And u guys took 1.54/1.1 x 90000sh = 126000
I thought its million i didnt read 1.54 per shyes but that impairment loss was then reversed by the gain of item b. so in excess there was a gain of 12000 i think and some was transferred in retianed earnings
Rather difficult exam, Q2 hard and time-consuming. Q3 I expected cash flow, Q4 the easiest but lack of time!
The exam was not difficult as such but the way things were twisted and thrown here and there to be worked out in Question 1 took a lot of my time and that made me run out of time and when you are under time pressure you tend to make mistakes even in the areas you are good at. In short I believe it was a lengthy exam and not enough time for the level of questions set.
could someone comment on how accurate the tips were please…
and hope you guys passPlease help, forgot what was the mark allocation in q1? Was there anything else except goodwill and p&l and other compr income?
It was ok paper Q1 simple GW and trick in pup A and revaluation land after AQ 1000 attribute NCI is 300
Q2 no trick loan easy bf sh 40000
Bf prem 2600 EPS 31
Q3 ratios not gap gearing increase
As purchase and calculate ratios before purchase deduct amounts of shaw
Q4 simple NCA transfer to RE 2400
Q5 I get just grant
Good luck for allOh I think I made huge mistake by calculating it other way around …
shares share premium
beg-g of the yr 48000right issue 2/5 8000 11200
year end 56000
56000/7=8000
8000/0.25=32000 * 0.35 = 11200
And so I calculated the dividends also wrong
I don’t remember other figures
I got it all wrong ((
will come back in Decemberthe 12000 gain on revaluation was after the offsetting of the previous loss of 20,000 right on item a?
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Can anybody tell me in ratios part 1 and two … wat was actually demanded in both???
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