June 2021 ACCA FR exam was - Instant Poll and comments

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June 10, 2021 at 10:30 am #624394
opentuition_team
Keymaster
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How was your June 2021 ACCA FR exam?

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June 10, 2021 at 5:18 pm #624472
Keisuke
- Topics: 0
- Replies: 1
It was tough I think.
Especially section C. I had conso for 2 entities.
I could’t find how to to get goodwill.
June 10, 2021 at 6:18 pm #624511
pranee03
- Topics: 5
- Replies: 5
I had a panic attack during my exam. Worst exam I have written in my life.
June 10, 2021 at 6:20 pm #624512
emilyw1
- Topics: 0
- Replies: 1
I found the section c hard statement of profit or loss I got completely muddled and made a huge mistake. Taking 80% of the figures I was thinking back to the statement of financial position. Completely muddled the big 20 mark not sure I could pass with missing such a lot in this large question. Annoyed

The exams are never like the practice questions you get to look over. Stupid. Stressful enough

Anyone do something so stupid before????
June 10, 2021 at 6:22 pm #624513
Lguicci
- Topics: 0
- Replies: 3
Thought it was quite tough. Lots of stuff on PPE and consolidation. Found the interpretation question really hard. Couldn’t think of much to say to make up the 11 marks
June 10, 2021 at 6:26 pm #624514
Lguicci
- Topics: 0
- Replies: 3
I also made the a really stupid mistake on the goodwill part by accidentally deducting the 20m increase in FV amount of asset from net assets rather than adding it! Literally can’t believe it
June 10, 2021 at 8:01 pm #624547
chris86maloney
- Topics: 1
- Replies: 2
Thought it was tough especially section C with the ratios and analysis of performance. Not enough time to write 11 marks worth of info. Made a small mistake in the balance sheet where I didn’t deduct dividends paid from retained earnings and put it in current assets…. Frustrating!!
June 10, 2021 at 8:34 pm #624550
littlemiss94
- Topics: 5
- Replies: 8
Did anyone have the statement of p and l for section c. We didn’t have to time apportion it did we as it was over a year since they acquired?

I found the p&l question hard but the ratio one wasn’t bad
June 10, 2021 at 8:52 pm #624554
jwillis93
- Topics: 1
- Replies: 2
Did we all have a different exam? I thought it was mad that there was no consolidated P/L or SFP in section C. Just P/L for a single entity
June 10, 2021 at 8:54 pm #624556
kevin8888
- Topics: 0
- Replies: 3
Had the same questions, same as you I found the ratios fine but the P&L was a bit of a disaster, we didn’t have to time apportion

Was the intra-group sales 9m? It said the subsidiary had only paid 2m, but I imagine that would only have affected the balance sheet?
June 10, 2021 at 9:03 pm #624557
jamescoffey565
- Topics: 0
- Replies: 3
I thought I was a tough one. Had the consolidated P&L in section C and the second one was calculate goodwill ratios and analysis. Don’t know if I done enough in analysis but tried to explain best I could.
Hopefully I picked up a lot of marks in section A and B
June 10, 2021 at 9:40 pm #624561
littlemiss94
- Topics: 5
- Replies: 8
yeah the intra group sales were 9m, i deducted that from both revenue and COS and then added the URP to COS. dunno if that was right :/
June 10, 2021 at 10:06 pm #624564
kevin8888
- Topics: 0
- Replies: 3
Yeah I’m pretty sure that was right, I did the same, deducted 9m from COS, added the mark up of 25% and multiplied by the fifth left in inventory if memory serves me right
June 10, 2021 at 10:13 pm #624565
littlemiss94
- Topics: 5
- Replies: 8
for the 7million receivable did we have to deduct it in part b for the consolidated assets question
June 10, 2021 at 10:31 pm #624568
kevin8888
- Topics: 0
- Replies: 3
I didn’t get that question finished but that seems right, was the investment for the assets the amount already paid deducted from the original cost?
June 10, 2021 at 10:41 pm #624571
anits
- Topics: 1
- Replies: 2
Lguicci, As I understand, we have same exam. If you are interested, we can review exam)))
June 10, 2021 at 11:16 pm #624572
anelehhelena
- Topics: 0
- Replies: 4
Did any of you have to calculate EPS in the 32nd question? I couldn’t figure out how to get number of shares?!
June 11, 2021 at 12:27 am #624577
Saedeo
- Topics: 1
- Replies: 2
Agreed.
June 11, 2021 at 12:46 am #624578
Saedeo
- Topics: 1
- Replies: 2
Did anyone have the Pontoon ratio analysis question?
June 11, 2021 at 2:16 am #624581
savburke876
- Topics: 0
- Replies: 1
Haha you had life easier with that question. Trust me lol
June 11, 2021 at 4:27 am #624585
Naseam
- Topics: 2
- Replies: 2
I experienced technical difficulties with the exam and im not sure if its me but I was unable to view the questions on the screen. The format of the exam seems to not be compatible with the monitors used at our exam centre.

My other issue today was also the time lag and slight freezing of my screen every time i went from one question to the other

Anyone else ever experienced this?????
June 11, 2021 at 7:46 am #624608
charmy
- Topics: 0
- Replies: 1
It was such a disaster, I even thought I was writing a wrong exam or I studied with the wrong FR material.
June 11, 2021 at 10:42 am #624647
jwillis93
- Topics: 1
- Replies: 2
Did anyone have the Pontoon analysis question? Did ye say the disposal of Stand was a good or bad idea?
June 11, 2021 at 11:11 am #624654
anelehhelena
- Topics: 0
- Replies: 4
I’ve got that one and I’ve Said that it was bad idea based on the drop in profit and revenue which Made me think that Scan was profitable.
How did you Calculate EPS in 32nd? I didn’t managed to figure out their number of shares. I went theough the Text several times and just didn’t see anything that would help me.
June 11, 2021 at 11:43 am #624659
pranee03
- Topics: 5
- Replies: 5
To work out the EPS we had to calculate the right issues which was 1 for 4 and calculate the right issue fraction.
June 11, 2021 at 2:31 pm #624681
anelehhelena
- Topics: 0
- Replies: 4
Thank you! I’ve complitely forgot about that calculation. Great ?????
June 11, 2021 at 4:34 pm #624721
jayhelena
- Topics: 0
- Replies: 14
I was the same for the 5 marker goodwill calculation in c, I started with the 3m consideration but then there were all sorts going on, cash and some sort of share transactions, didn’t have a scooby how to go about it and didn’t have the time to break it down. The other section c was working out the consolidated revenue and operating profit and the two liquidity ratios was alright but I ran out of time to fully complete the commentary. Found some of the OTQ’s pretty tricky.
June 11, 2021 at 5:44 pm #624753
WCotton
- Topics: 0
- Replies: 2
Hello,

I am just wondering if anyone else had the ABC/DEF ratio question – if memory serves me correctly, I think the pre-calculated operating margin for ABC was incorrect? Did anyone else notice this.
June 11, 2021 at 6:43 pm #624786
sinmilenin
- Topics: 0
- Replies: 1
Hi.

I did and you are right. It actually took me a few minutes to figure out how the operating margin for ABC is calculated and tried to find any possible adjustments that could affect calculation. At the end just concluded it might be incorrectly pre calculated.

Also, formula for D/E was a bit strange as it was calculated as: equity+debt/equity, am I right?
June 11, 2021 at 7:27 pm #624795
WCotton
- Topics: 0
- Replies: 2
Debt/Debt+Equity is also a common ratio. It just depends how each company prefers to calculate it.
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