*** F7 June 2016 Exam was.. Instant Poll and comments ***

@emo777 said:
I remember it to be 2.43 at cost for subsidiary. It cant be 2.43 at cost to parent, i have made many examples on thus, and acca never gave something like 35/100

Lets wait until we get the paper
I can be wrong

I had everything you had

plus the deferred tax asset

Christa and geshi. The questions are out. So ther was not anything like cost to parent? Was it?

@emo777 said:
Christa and geshi. The questions are out. So ther was not anything like cost to parent? Was it?

Where can I find?

@emo777 said:
https://www.accaglobal.com/content/dam/ACCA_Global/Students/fun/f7/j16_hybrid_F7_q.pdf

Yes, you are right
It was cost to sub

@gawcram said:
Gvtftf,
If you remember any mcq, please share here

Geshi, please, try to find some of my previous posts 🙂 but ok, lets try

@gawcram said:
Gvtftf,
If you remember any mcq, please share here

1) Control question: choose three option, 45% with others 1% is also control
2) Consolidated revenue question: include parent and post acquisition subsidiary, ignore associate revenue
3) Going concern as adjusting event
4) Grant bakance of 1325
5) Shareholder wealth maximization and roce for profit organizations, non financial goals for non profit organizations
6) Inventory question: lower of cost and nrv, cost was 51600 or smth and it was lower
7) Lease question: overstated by 2000
8) Only acquired intangible asset recognized as intangible asset
9) Only warranty claims recognized an asset
10) the last question 20 answer was D
11) Impairment was straighforward
12 Comparability: disclosure of accounting policies and restatement of past figures
13) Ration question: only second option
14) Capital gesring measures debt structure and risk
15) Deferred tax should not be discounted
16) there was another question on consolidation, dont remember
17) Lower acid test ration in comparison with industry: it was D, buy materials using cash

@emo777 said:
18) asset held for sale question: highly probable and available for sale, two options have to be chosen

Yes, I put the same 🙂

16) I think how much profit attributable to equity holders
Is it?

@gawcram said:
16) I think how much profit attributable to equity holders
Is it?

Yeah, it was

The last was profit for NCI and I got D

@emo777 said:
1) Control question: choose three option, 45% with others 1% is also control
2) Consolidated revenue question: include parent and post acquisition subsidiary, ignore associate revenue
3) Going concern as adjusting event
4) Grant bakance of 1325
5) Shareholder wealth maximization and roce for profit organizations, non financial goals for non profit organizations
6) Inventory question: lower of cost and nrv, cost was 51600 or smth and it was lower
7) Lease question: overstated by 2000
8) Only acquired intangible asset recognized as intangible asset
9) Only warranty claims recognized an asset
10) the last question 20 answer was D
11) Impairment was straighforward
12 Comparability: disclosure of accounting policies and restatement of past figures
13) Ration question: only second option
14) Capital gesring measures debt structure and risk
15) Deferred tax should not be discounted
16) there was another question on consolidation, dont remember
17) Lower acid test ration in comparison with industry: it was D, buy materials using cash

I agree with u on 2,3,5,6,7,10,11,12
Others I don’t remember

@ Christa
the cost was to the subsidiary not parent so u had to get unrealised profit as:
35/135*2.43m=630000