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i was able to manage my time very well and completed all the questions
thanks Mike, thanks OTWhat is the answer for mcq for 1st question is it d.
In 20th q is it d???
Indicators of impairment…Is it adverse change in economic environment…
There was a q about Isab is it the Isab appoints advisory committee…
In mcq there was about finance lease and it had only two options what is the answer please…???
Answer for second q is is it 1496
Anyone have a clue how to deal with that Goodwill Q? The deferred cash payment stumped me. Hadn’t seen one like that before
Fingers crossed get the marks required to progress. No surprises in section B except the Q3c and couple adjustments in Q1. Good luck every one.
yes pinkyovin. the right answer is adverse change in economic environment.
and IASB may appoint advisory committee is right bcos other options it is 90 days not 180.discussion paper is issued first, then exposure draft
In 20th mcq which was irrelevant???
Dividends paid last year
Employees or directors
Share in equipment
Cash budget for the next 5 yearsAnyone remember??
@slibrahim50 said:
yes pinkyovin. the right answer is adverse change in economic environment.
and IASB may appoint advisory committee is right bcos other options it is 90 days not 180.discussion paper is issued first, then exposure draft
Thankyou ibrahim..What about finance lease question there was only two options I chose the first one
Oh dear, that sounds more like it. I tried to time apportionment and got into a muddle. Brain meltdown halfway through exam. Did okay with most other things I think.
MCQ 20. I take it dividends paid won’t tell you about a company as a company that has made losses can still pay them?
I drew up the W2 table for that. I remember reading that in a consolidated statement of profit & loss, if they ask you for goodwill you should do a table anyway!
@yentam said:
It took me a good half hour for 4 bloody marks!!!I’m worried that I did more than was required!
From memory: revaluation gain on lease was 8m less 1m for deferred tax, some of the dev expenditure was expensed about 6m I think, the rest capitalised with depreciation for 3 months of the year?, then depreciation for the plant and depreciation for lease at revalued cost, as well as closing inventory value decrease due to change in NRV. Surely this couldn’t have been for just 4 marks!!
It doesn’t make sense. The Goodwill Q was 8 marks and (even though I messed up the contingent payment) I was done in 10 mins. Strange marking in this exam.
Does anyone agree?Can anyone please tell about the Mcq if operating lease was treated as a finance lease .
It had only two options .
Is it the first one???
@yentam said:
Share exchange value
+ Contingent cash consideration at acquisiton
+ NCI at share price
= TOTAL CONSIDERATIONLESS Equity shares
LESS retained earnings at start of year
LESS share of pre acq profit
LESS fair value increase
LESS land ?
ADD provision ?This gave me goodwill.
Am I correct in not including the impariment of goodwill as that was after acquisition?Sounds right to me!
@yentam said:
I think this is the question where carrying value of obligation doesn’t include the interest payment?So you chose second one
@tafireyi said:
Conceptual framework about materiality Neutural, Nature, Magnitude and…..So the answer is magnitude.Can I believe that
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