FRJune 10 Exams Paper F7 was.... Post your comments here

the same treatment was done in d alst attempt's ppr too
in dat case loan was given to subsidiary and we adjusted the retained earnings of subsidiary in the same manner s i told above and applied our share den

I am not sure... was in such a rush i have missed that.... oh well thats another percent closer to failing.... :)

Demonic paper! It was blazing hot. Created by the devil himself. Straight from hell!

it was horrid! lots of stuff to deal with and yet very little time. i struggled with the consideration for the acquisitons in Q1 and run out of time to make a meaningful attempt at q4. overall, very tricky questions to deal with. praying for a pass this time!
i must say steve scott is one hell of an examiner, he always succeed in confusing students every sitting.

it was the 3d time I tried to pass - the exam was VERY EASY comparing with other 2 - June 2009 and December 2008. I'm not sure for reasult, but hope for 60-70 marks.

@salman said:
Q3 was a nightmare, and i had no calculator in the exam, rest you can imagine.

dont tell me!! no Calculater??!! omg!!

Paper was fine with me i knew there would be time management probs was mentally prepared for that challenge a lot of practice needs to be done for F7 to achieve that speed needed in F7 Exam.

Those Who tackled with the Time must have done all the questions.

I hope we All Pass

Time management was my main prob for all four of my exams(F5,F7,F8 and F9) Maybe its because I'm an ACCA newbie and am not used to accounting exams that involve so much theory.

Like : Life is too short to live
Similarly: Time was too short to attempt !!
It was horrible and its nt that havnt worked hard , had put all the efforts bt dont knw what went wrong ... Cash flow ws terrible ..
Leasehold asset treatment was : Asset Held for sale .. nw plz dont tell me that i did ths wrong too ... :(

How did u guys do for Q4? In the income statements for the three years, I only put the interest expenses (which were given)....

For Q1, anyone remembers whether the parent sold the goods to subsidiary or the subsidiary to parent?

Thanks.

never seen Q4 and Q5 in exam kit!!!
what a waste of time!!

.

@lawrence1979 said:
How did u guys do for Q4? In the income statements for the three years, I only put the interest expenses (which were given)....

For Q1, anyone remembers whether the parent sold the goods to subsidiary or the subsidiary to parent?

Thanks.

It was parent selling goods to subsidiary...

i have done the whole paper, calculation with my own hands, but the invigilator dint let me go out and take my calculator from my car, i was gone for prayer so i forgot it in my car, and they dint let me take it, i have emaild ACCA for it.

it was the worst exam I have ever sat

I failed in time management(found the questions very lengthy) ,but conceptually the exam was not very difficult...I really hope for a pass...

PS:parent sold, as far as i remember.

i want to ask about Question 1,

What is the total amount goodwill ? ! is positive or negative ?
I think We use $4.2 million on the contingent consideration when calcuate good, because we need calcuate the good at the day of acquisition.
Finally, i adjust the contingent consideration to 4.2 million -2.7million , in the retained
earning,

i think Question 3 - Cash flow is difficult,

most difficult f7 paper if u compare it with the past papers :(

Q1: use 2.7 million for calculation as the consideration and goodwill must be revised within 12 months from the date of acquisition.

i think q1,2,3 we easy cmpared 2 past papers!!!
q4,5 wer bit tough!!
bt overall easily passable paper i think!!

Was not prepare for IAS 23 Borrowing Cost .
let's see........
Q3 Cash flow was too tough for 12 marks!

@salman said:
i have done the whole paper, calculation with my own hands, but the invigilator dint let me go out and take my calculator from my car, i was gone for prayer so i forgot it in my car, and they dint let me take it, i have emaild ACCA for it.

Shocked to see ACCA invigilators having that attitude..
My Calculator stopped working in june 2009 exams and they provided me with one. Its good that you didnt back up and fought till the end bro!!! My Prayers for you!!
Regards

@salman said:
Q3 was a nightmare, and i had no calculator in the exam, rest you can imagine.

once i did in F1 my calculator went blank just before exam... and now i take two calculator....

WTF! I have failed! lost my timing, and didnt even how to tackle q4&5! Dec 2010 for me.

Well still hats of to open tuition. Cause all my papers 4-7 were self study and it helped a lot.

I've learnt that all subjects need to be treated equally. I put far to much into Law last week and so was not prepared for a tough paper and by christ wasn't it tough. Every thing seemed to have a little bit extra far more in depth that previous past papers.
From the reaction outside Leicester sitting ACCA will have kept this paper at the lowest pass mark again.
Good luck everyone

it wasnt as bad as decemeber, granted there was LOADS in it and I just didnt have time to think about anything as time pressure was so bad, like the contracts bit published accounts questions and the calculations in q4 and 5 had to leave out as no time to think for a second. I did the theory bits as didnt have to think about them. Hope to god for 50 as i dont think we'll get a paper like that again for a while!
went blank on cashflow, altough i had practiced these ;( gave it a go and commented on what i could.

Praying for a miracle, tiiiiiimeeeeee. I was so confident and comfortable with F7 but only to face that.

second attempt. I hope to pass, although time was a problem. But I think it was okay than June, 2009

I took me 2 hours for first 2Q, was that proprty for sale tricky. Q3 was plus minus ok and last 2Q absolute disaster . Even If i would know all answers I would not be able to finish all in allocated time.

Time was a real issue, this was a tough exam. You had to really know your stuff to be able to complete the required questions in the alloted time. Hope for 50%...

@salman : NO CALCULATOR ? You gotta be kidding me!