FRJune 2021 ACCA FR exam was - Instant Poll and comments

I had a panic attack during my exam. Worst exam I have written in my life.

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????

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

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

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

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

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?

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

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 :/

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

for the 7million receivable did we have to deduct it in part b for the consolidated assets question

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?

Lguicci, As I understand, we have same exam. If you are interested, we can review exam)))

Did any of you have to calculate EPS in the 32nd question? I couldn’t figure out how to get number of shares?!

Agreed.

Did anyone have the Pontoon ratio analysis question?

Haha you had life easier with that question. Trust me lol

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?????

It was such a disaster, I even thought I was writing a wrong exam or I studied with the wrong FR material.

Did anyone have the Pontoon analysis question? Did ye say the disposal of Stand was a good or bad idea?

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.

To work out the EPS we had to calculate the right issues which was 1 for 4 and calculate the right issue fraction.

Thank you! I’ve complitely forgot about that calculation. Great ?????

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.

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.

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?

Debt/Debt+Equity is also a common ratio. It just depends how each company prefers to calculate it.

I had the same impression about that Operating margin of ABC.

Director’s remuneration as 10% of PBT ?

After making adjustments I calculated 10% of PBT and added that to SFP in Liabilities part. Don’t know if it’s right... Section A question: if liability is overstated at acquisition, Goodwill is also overstated?