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*** F7 June 2015 Exam was.. Instant Poll and comments ***

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › *** F7 June 2015 Exam was.. Instant Poll and comments ***

  • This topic has 296 replies, 105 voices, and was last updated 9 years ago by benwalker.
Viewing 22 posts - 276 through 297 (of 297 total)
← 1 2 3 … 10 11 12
  • Author
    Posts
  • June 18, 2015 at 4:10 pm #257754
    Erin
    Member
    • Topics: 19
    • Replies: 36
    • ☆☆

    I have a question..how on earth do people actually remember what they selected for the MCQ’s?? If I was to look at that now I would have no idea….just curious…

    June 18, 2015 at 6:10 pm #257799
    sis00
    Member
    • Topics: 7
    • Replies: 4
    • ☆

    Someone could help me with Q9? There is my solution:
    land – 2000
    building -10000-10000/25/2=9800
    AC – 4000-4000/10/2=3800
    Total 15600 it’s D
    But suggested answer for this Q – A
    Where am I wrong?

    June 18, 2015 at 6:21 pm #257802
    chris165
    Member
    • Topics: 0
    • Replies: 56
    • ☆☆

    @sis00 said:
    Someone could help me with Q9? There is my solution:
    land – 2000
    building -10000-10000/25/2=9800
    AC – 4000-4000/10/2=3800
    Total 15600 it’s D
    But suggested answer for this Q – A
    Where am I wrong?

    You forgot the residual value of the Air conditioning system.

    Depreciation = (4000-500)/20 = 175
    Carrying amount = 4000-175 = 3825

    June 18, 2015 at 7:38 pm #257808
    Guy
    Member
    • Topics: 0
    • Replies: 40
    • ☆

    @evanslawlor15 said:
    I have a question..how on earth do people actually remember what they selected for the MCQ’s?? If I was to look at that now I would have no idea….just curious…

    Look at the questions and work through your thought process for each…Should come back to you, especially on the calculation ones.

    June 20, 2015 at 1:58 am #258121
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    my answers q17-A, 18-A, 19-D 20-D

    June 20, 2015 at 3:20 am #258124
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    C answer is correct parent is used only with relation to subsidiary and not associate

    June 20, 2015 at 3:23 am #258125
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    @paking said:
    In regard to MCQ (2) – I choose B as future economic benefit doesn’t require revenue but also includes for internal use a reduction in costs. I was split by B and D for this reason during the exam.

    I think as well B is correct , D first part was correct but it is not true that intangible assets are impaired first before tangible the more important factor is recoverable amount

    June 20, 2015 at 7:41 am #258131
    Guy
    Member
    • Topics: 0
    • Replies: 40
    • ☆

    Marek. there are now suggested answers available on the main F7 forum:

    https://opentuition.com/topic/answers-to-f7-june-2015-exam-section-a-mcqs/

    Q2 is D.

    You are correct on the others with exception of Q20 which is C

    June 20, 2015 at 12:01 pm #258176
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    it looks like i got 14 anwers correct hopefully this might help me to pass I assume that pass mark will be lower than Dec exam which was 49

    June 20, 2015 at 12:10 pm #258178
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    @gdjay said:
    Marek. there are now suggested answers available on the main F7 forum:

    https://opentuition.com/topic/answers-to-f7-june-2015-exam-section-a-mcqs/

    Q2 is D.

    You are correct on the others with exception of Q20 which is C

    Q2 yes i noticed it but I cant find anywhere in books that intangible assets should be impaired before tangible assets

    June 20, 2015 at 12:42 pm #258183
    mansruk
    Member
    • Topics: 0
    • Replies: 9
    • ☆

    @marekchalcak said:
    Q2 yes i noticed it but I cant find anywhere in books that intangible assets should be impaired before tangible assets

    Intangibles should always be impaired first unless there is a specific tangible to be impaired

    June 20, 2015 at 1:33 pm #258185
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    Can someone explain why q20 is C and not D inventory has impact on cost of sales which will decrease gross margin and not operating margin answer D seems more correct as transfer of amortization from cost of sales to admin costs will increase operating expenses and decrease operating margin

    June 20, 2015 at 1:59 pm #258187
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    q16 should be D why ?

    Providing $1 million for deferred tax at 25% relating to a $4 million revaluation of property during March 2015
    even though Cumla has no intention of selling the property in the near future

    deferred tax is non-current liability not provision

    I have A

    Making a provision for a constructive obligation of $400,000; this being the sales value of goods expected to be
    returned by retail customers after the year end under the company’s advertised 30-day returns policy

    A constructive obligation arises if past practice creates a valid expectation on the part of a third party, for example, a retail store that has a long-standing policy of allowing customers to return merchandise within, say, a 30-day period. [IAS 37.10]

    June 20, 2015 at 2:41 pm #258192
    Guy
    Member
    • Topics: 0
    • Replies: 40
    • ☆

    Marek, these Qs should be directed at the ‘ask the tutor’ F7 forum, I have been challenging the tutor and he has been responding promptly.

    He is also the one who provided the ‘disputed’ answers.

    I agree with the provision for return of goods that does seem more sensible.

    June 20, 2015 at 2:43 pm #258193
    Marek
    Member
    • Topics: 0
    • Replies: 10
    • ☆

    @marekchalcak said:
    Can someone explain why q20 is C and not D inventory has impact on cost of sales which will decrease gross margin and not operating margin answer D seems more correct as transfer of amortization from cost of sales to admin costs will increase operating expenses and decrease operating margin

    lol..I did silly mistake too much time pressure

    June 21, 2015 at 11:17 am #258407
    umar7575
    Member
    • Topics: 0
    • Replies: 7
    • ☆

    Ias-41 applies to biological assest which should be living plant or animal not the dead one………… why you selected logs???????? ACCA tutor……

    June 21, 2015 at 11:19 am #258408
    umar7575
    Member
    • Topics: 0
    • Replies: 7
    • ☆

    And also why the answer of q1 is “D”? it is against faithfull representation…. Why Not B??????

    June 21, 2015 at 11:30 am #258409
    umar7575
    Member
    • Topics: 0
    • Replies: 7
    • ☆

    @marek
    Why Not “B” as there is also based on past experience…..

    June 26, 2015 at 11:45 am #258885
    jpf1101
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    how question 1 is D is beyond me!!

    July 14, 2015 at 4:03 pm #260770
    eoin
    Member
    • Topics: 0
    • Replies: 9
    • ☆

    Answers are on the website!!

    July 14, 2015 at 4:09 pm #260772
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 5
    • ☆

    https://www.accaglobal.com/content/dam/acca/global/PDF-students/acca/f7/exampapers/int/F7_2015_Jun_A.pdf

    July 21, 2015 at 3:09 pm #261277
    benwalker
    Member
    • Topics: 0
    • Replies: 3
    • ☆

    @lochte001 said:
    I can’t help but wonder what the scores are for the mcqs- I want to know if most students are scoring over 50% on the mcps, what is the average score? Is there anywhere I can see this for the Dec 2014 exam for example.

    Do they tell you in the examiners report?

  • Author
    Posts
Viewing 22 posts - 276 through 297 (of 297 total)
← 1 2 3 … 10 11 12
  • The topic ‘*** F7 June 2015 Exam was.. Instant Poll and comments ***’ is closed to new replies.

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