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@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- Topics: 0
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WTF! I have failed! lost my timing, and didnt even how to tackle q4&5! Dec 2010 for me.
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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- Topics: 0
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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.
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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!
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Well having sat in December i thought paper was lengthy but easy than last time. Question was almost standard with not many tricks, so was question 2 and cash flow was tough because of limited information that we had to find from 2 years’ info but commentary was better, question 4 was rather logical, just putting interest back in three years and showing sales in the last year and in question 5 took out 1st and last months first and out of rest of 10 months took out july and august… so answer was like 500000 capitalise and 250000 finance cost… wrote that income of 40000 should go under other comprehensive income… i hope we all pass….
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And what’s with the FREEZING cold airconditionong at London excel????
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Hey Ppl,
Thanks God for Kaplan QBE and tips – almost all came out!!!
I wasn’t prepared well, I have concentrated on the other subjects, however I think the questions were more than predictable (if I could only spend more time on revision…) and there was nothing strange except of the Q5 – IAS 23 Borrowing Cost not sure if I even seen that before 🙂
Easy consolidated – except of the strange deferred consideration (but if you got it wrong it’s only 1-2 marks)
* Just wonder how to treat – I have heard two ways so far –
1. Full consideration as investment (as it zeroed parent investments), and adjust it on SFP and decrease group retained earnings
2. Take decreased consideration as investment
But again, remember – one mistake is only 1-2 marks – you still got the working marks and 1/2 for simply adding the stuff like tax etc!!!!Q2 – I felt happy when I seen trial balance – i was expecting re-dtrafting or some odd questions – I found ‘held for sale’ easy – stuck with the lease for a while, tax asset confused me, on the positive side construction contracts came out. I think I made it correct but I may be wrong – For a total cost Labour etc + cost of the machine, for cost to date labour cost to date + 6/18 of the machine cost (depreciation)
Q3-5 – lot’s of blabla (and I’m not good in blaBLA) cashflow I’ve got something wrong because i was off 2k at the end – but hey – still got your marks for adding up decreases/increases in receivables etc.Anyway wishing you all the best!!!! Hope we will all pass (but I’m not so sure about myself!!!!)
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very dificult paper i see f7 . i do very hard work before and in exam so i hope to gain passing marks.
I know I will be sitting this paper in December…Too much work to get done in three hours and I blanked on some issues…Somehow, my memory bank went dead for a costly time. Horrid exam!
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The Loan formed the part of consideration ie its not isuued at post ack but as a for of consideration (hint was that 100 loan was given for x shares) so its not an inter-company transaction but form part of investment
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it was too much to do in 3 hours, you are so worried about hurrying up that your never going to take in every single issue in each question. also question 5 was a bit mad. i don’t think we even covered it in class! such a small topic.
one thing i’m really worried about is the fact that i didn’t reference my workings. i did all my workings and then say for example the statement of financial figures but didn’t reference the figures i used to my workings. is this ok?
also i handed up 4 answer books and i’m really worried that this will piss off the marker and they will mark me hard! 🙁
any feedback greatly appreciated!this was the worst exam i have ever seen for this paper. i will definitely surpise if the acca pass rate is high for this f7 paper.
i practically feel like having a gin and tonic right now- Topics: 0
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u should do just that!
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i agree 🙂
It was really bad. I almost gave up in the middle of the exam. I lost confidence and really made me question myself . I honestly think that the paper was unfair compared to the previous ones.
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The exam was too loaded for the 3 hrs allocated. Also, it was too technical for this level with the examiner testing about seven (7) Accounting Standards at a go.
However, it’s been a great time with Opentuition: the Tutors; Administrators (wonderful innovation in human capital development), you guys are too much, God bless you all; and my fellow potential ACCA – best of luck.
@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.
please tell me how u all did this. i charged a gain on disposal in legal and did the interest on implicit rate in substance.
also, for q5, i forgot to subtract the capitalised borrowing cost from interesst calc
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