June 2021 ACCA SBR exam was – Instant Poll and comments

avbosip wrote:

ak2401 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.

This 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

It was according to ED
They use only single assets so its not a business combination will be asset acquisition
I think so
thank you

if i remembers right that digital vs manufacturing question was specifically said, your answer should not use reference of any of the exhibits. I think you have mentioned about the difference of the revenue and assets etc were necessary as it explain the difference between the industries. to me, the value creation is the key word of the integrated reporting, there is a very similar question on revision kit. therefore, i have explained the IR then capitals, then difference between the sectors, assets, operation expenses, customer relationships.. these all fall into different type of the capitals mentioned under the IR. then Manufacturing sector performance measure normally use financial ratio analysis, non-financial measurement is useful to digital sectors such as customer satisfactory rate ect…

lol it’s finished now, so hopefully we will all pass. fingers crossed.

Jennie_fierz wrote:what did people say for question3 carbon emissions and the levy fines? I used Government grant and IAS 37

Yes I used the government grant standards too

Thank you
I This
But I thought I did not answer this question
Now I confirm that I answer all the questions little or more
wish you the best for passing the SBR

i-acca wrote:I 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 ??

yeah i focused on IFRS 15 and ethics as it contained more easy marks to scrape through as i was already under time pressure

Question 4. I had revenue with the international and domestic elements and the operating lease over the three years. However I had no spreadsheet in the workspace for this question only wordprocesser so had to type out calculations on word and using the calculator. I invariably made an error but could not easily correct it as I would on a spreadsheet and didnt have time to do it again manually. Did others have the spreadsheet for this question?

Went ok…. it seems like the software is way better than the last CBE exam I took last September. It wasn’t as slow.

Yes the government grant and also it had IAS 37 contingent asset as well. Can’t be recognized in the FS until virtually certain and it said that the government had not confirmed about the increase for them therefore it shouldn’t be recognized.

Also felt that the purchased rights belonged to intangible assets as it had met the recognition criteria for an intangible

The one about the emission rights, and levy. I think the 3rd Q depending on what paper you got

I had this q3 in INT paper, think I also mentioned it was an adj event as the bad weather happened in the year, and if considered material it should be disclosed in the notes.

Cont asset, as gov hadn’t decided if there would be a charge or not.

I said the grant income should be set ag the costs in the PL that would be attributable / offset the emissions benefits

Q1 share based payment I don’t think it was the 10m from old scheme I gnored old scheme and calculated the cost of new scheme they promised but as it vested over one year wasn’t sure if full cost is just due on acquisition. Although discounted for 1 year.

For the deferred tax liability I added on to net assets as they overvalued the liability but the brought forward losses aren’t an asset as company was loss making even though acquirer could utilise.

No idea if either is right.