Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › June 2021 ACCA SBR exam was – Instant Poll and comments
- This topic has 106 replies, 39 voices, and was last updated 3 years ago by fredrickoloo.
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- June 10, 2021 at 5:47 pm #624494
vivacca wrote:the question you have mentioned about ‘ differences in IFRS between entertainment and manufacturing’ if i remembers right , it was actually asking you to explain the integrated reporting. because it has mentioned about create value for primary users ( investor and shareholders)
Yes. I omitted that word about values. So just created general outcomes and why there is a difference. I boo booed again lol ?
June 10, 2021 at 5:48 pm #624495Yes I think it was like 8/12 x 6= 4m
June 10, 2021 at 5:49 pm #624496i-acca wrote:Yes I think it was like 8/12 x 6= 4m
Something like that. Yes.
June 10, 2021 at 5:51 pm #624497Very time pressured exam didn’t have time to even think through an answer or even try understanding the requirements
Got CSPL
Goodwill cal
Joint venture
Discontinued OpQ2 Ethics had IFR15 and IFRS 9 Hedge accounting (hard)
Q3 and 4 had a mix of accounting standards and took time to identify what each one related to
June 10, 2021 at 5:52 pm #624498I did this with the tech company because question was to compare the traditional manufacturing financial reporting and digital. So outlined the differences between the tech companies and normal companies as share holders will need more information and traditional financial reporting is not enough. Hopefully we all get some points ??
June 10, 2021 at 5:54 pm #624501Just wish everyone to pass. It was a weird exam.
June 10, 2021 at 5:57 pm #624502i-acca wrote:In Q2 a section, what is the component recognition? I messed up on that question ?
I think it had something to do with depreciating the computer parts differently from the purchase of new components. Not too sure if it’s the correct approach. Spent too much time on it that I could have spent on Q3
June 10, 2021 at 5:59 pm #624503One question I remember in section 4 that has not been mentioned, was the first one on entities that have digital assets and from an investors perspective.
I expanded on the fact that from an investors perspective the intangible assets may not be shown on the balance sheet, due to the criteria for recognising. Therefore the entity has values that the investor can not see on the balance sheet. Especially if internally generated which is becoming more common etc.
The standard setters are addressing this so a current issue question i guess.
It then went onto intangible assets so felt like that was what they were hinting at.
What did everyone else put?
June 10, 2021 at 6:02 pm #624504Yes I got the revenue question. I told to measure the initial amount received as Deffered income and release over the period of time when the performance obligations are met since it’s a service license.
Also regarding the manufacturing and digital I mentioned about how manufacturers has alot of assets but digital companies don’t have and specially since internally generated goodwill and brands can’t be recognized as part in traditional financial reporting in the individual FS it will impact the comparability because it digital companies depend on their brand and goodwill alot hope that’ll give me some marks
June 10, 2021 at 6:03 pm #624505Also did anyone get the ethics Q regarding hedge accounting also? I just had no option but to just put in some pointers saying the effective portion goes through OCI and told to measure a loss of 2.5 in the OCI due to the exchange loss
June 10, 2021 at 6:04 pm #624506ak2401 wrote:One question I remember in section 4 that has not been mentioned, was the first one on entities that have digital assets and from an investors perspective.
Yes yes yes. You like read my mind. I put exactly the same. Researched will be deducted in the PL which will show low total profit and investors may not like and etc…I think I this is like a current issue and mentioned it this is possible current issue.
June 10, 2021 at 6:06 pm #624507Do you remember what was the question 4 intangible asset question?
June 10, 2021 at 6:13 pm #624508Green & Animal one?
June 10, 2021 at 6:16 pm #624510The shared based payment bit was tricky in question 1.
The payment was due to the employees on service of another year. Therefore would of been vested over the year? Affecting profit.
Think i got like 14.4 million or something.
Wasnt too sure on that bit.
June 10, 2021 at 6:31 pm #624516I’m not too sure about this exam. I ran out of time and rushed the last 2 qs. I could’ve done with another hour haha.
The question comparing digital and manufacturing company’s statements I used as a chance to talk about integrated reporting.
I can’t even remember the qs after that because I rushed them and briefly jotted things down.
I actually didn’t mind Section A. I could make a fair attempt at these. Section B was rushed and a complete mess for me
June 10, 2021 at 6:40 pm #624519Just found this article and how it should be apportioned pre and post on acquisition so think ive done it half right. With post vested and in the p&l.
Dont think i apportioned the pre bit can’t remember 🙁
June 10, 2021 at 6:56 pm #624521How did anyone tackle this? I was so rushed time wise I feel I didn’t read the questions properly but I said the smaller ci wouldn’t have any capitalised development costs and mainly to Research expense p<ge bigger co I said R for first 2 points, capitalise the production and expense the marketing .. random questions thru the whole sec B!
June 10, 2021 at 7:02 pm #624522How did you answer the disc op?
June 10, 2021 at 7:02 pm #624523barbadoshk wrote:How did anyone tackle this? I was so rushed time wise I feel I didn’t read the questions properly but I said the smaller ci wouldn’t have any capitalised development costs and mainly to Research expense p<ge bigger co I said R for first 2 points, capitalise the production and expense the marketing .. random questions thru the whole sec B!
Also did something similar.
June 10, 2021 at 7:03 pm #624524I thought it was ok, the APM exam yesterday was much more time pressured.
I had
Acquisiton, step acquisition and disposal for Q1,
the IFRS15/Lease question which I kept re-reading as the IFRS15 only made sense if the contract was for 7 years with the first 5 domestic and the last 2 bother domestic and international ,
The film production one
and the digital services one.The first question I found tough but had enough time to go back and finish the calculations at the end. Not sure if that was enough as the text was still pretty bad.
I hope I passed them both as they are my last 2, good luck everyone
June 10, 2021 at 7:04 pm #624525Overall it was a hard exam because of the time pressure, felt like i was not reading the exhibits properly and was rushing to answer the requirements. Had only 15/20min for the last question.
June 10, 2021 at 7:05 pm #624526Can any one remember q2 part a or b
Is it something related to investment property with an operating lease
Ethics question was based on Crypto I can remember but forget about the 1st one
Thank youJune 10, 2021 at 7:07 pm #624527but they mentioned to ignore time value of money?
June 10, 2021 at 7:10 pm #624528This was more general knowledge to pick from the scenario i think. i just talked about how digital companies have more intangible assets compared to Manufacts which have tangibles such as PPE as such accounting standards may vary.
Also, revenue may be recognised differently as digital is more serviced based ‘overtime revenue recognition’ and manufacts create assets to transfer at a point in time in most cases.
I pray we all pass in Jesus name, amen
June 10, 2021 at 7:11 pm #624529How about the business or asset acquisition?
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