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*** June 2024 ACCA SBR exam – Instant Poll and comments ***

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › *** June 2024 ACCA SBR exam – Instant Poll and comments ***

  • This topic has 24 replies, 16 voices, and was last updated 11 months ago by nevarsan02.
Viewing 25 posts - 1 through 25 (of 25 total)
  • Author
    Posts
  • June 6, 2024 at 6:13 am #706696
    opentuition_team
    Keymaster
    • Topics: 1380
    • Replies: 1403
    • ☆☆☆☆☆

    How was your June 2024 ACCA SBR exam?

    Vote in the Instant Poll


    (Comments will be opened after 5PM UK)

    June 6, 2024 at 3:19 pm #706838
    adityachaudhry
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    The question that asked to apply various IFRS for treatment of costs related to films was tough. Rest of the exam was fairly simple. Group question was easier than expected.

    June 6, 2024 at 4:38 pm #706846
    Yana
    Participant
    • Topics: 5
    • Replies: 22
    • ☆

    I agree that Q1 was fairly easy, and was looking for some hidden tricks and I just cannot believe that I forgot to include the Investment in Associated in Q1.

    I got stuck on the question related to costs of the firm. Was confused on what I shall start with and applied IFRS 15 which I think was absolutely wrong.

    June 6, 2024 at 5:46 pm #706850
    estherhazy
    Participant
    • Topics: 0
    • Replies: 6
    • ☆

    Anyone do the UK variant but not get a GAAP question?! Did I miss it?!

    June 6, 2024 at 5:49 pm #706851
    addieboo123
    Participant
    • Topics: 1
    • Replies: 24
    • ☆

    I agree with you guys, I also had the same version and that first question seemed a bit easy.

    Q1 – explain why the entity was a subsidiary (5 marks)
    – then explain why the entity was an associate (6 marks)
    – then adjust the prepulated sheet (it was CSFP and you needed to derecognise the subsidiary and account for it as an associate instead (thank the heavens it wasn’t cash flows cause I would have cried) (12 marks)
    – explain how can an entity account for impairment of investment in subsidiary (7 marks) (not gonna lie I did not bother with this one, I moved on)

    Q2 – nice lovely question on ethics
    – generous 10+2 mark to start off with, about an FD that was trading with the company of his family in another country (loads of self interest threat evidence, objectivity, all that jazz)
    – then the question on how to account for the three manufacturing firms (8 marks) I actually REALLY loved. I talked about the abandonment prospect and how that would exempt them from falling under the scope of IFRS 5, I talked about the probability threshold of the temporary business disruption through the eyes of IAS37, then I also talked about the impairment of assets due to extreme weather conditions, I used the scenario for evidence.

    June 6, 2024 at 5:53 pm #706852
    addieboo123
    Participant
    • Topics: 1
    • Replies: 24
    • ☆

    Q3 – very heavy on IFRS 15 revenue from contracts with customers, I think more than half of the marks were about this which I was very very pleased indeed.
    – also on Q3 FRS 102 a few issues on deferred tax and calculating the deferred tax asset

    Q4 – Financial instruments (yeah this was nasty.) I didn’t attempt all of it so it’s played on my confidence a lot. But it was basically about methods of accounting for financial instruments and how investors might find all these different ways confusing

    Overall, I think some parts were easy and some parts were ew. I think it’s a pass but if I’m lucky. And it will be by a whisker haha. (First attempt)

    June 6, 2024 at 6:33 pm #706856
    stelios123
    Participant
    • Topics: 1
    • Replies: 4
    • ☆

    I had the same. I Didn’t find it actually hard. You just had to to state if the development costs could be capitalized or not if they meet the criteria of PIRATE. I think two of them did but the last one no because it was loss making.

    June 6, 2024 at 6:37 pm #706858
    stelios123
    Participant
    • Topics: 1
    • Replies: 4
    • ☆

    I fount the paper easy going and this is strange and at the same time very scary because i think that in this kind of papers you fail more easily because maybe there were a lot of traps

    June 6, 2024 at 9:38 pm #706872
    Superella
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    I had same questions as you – starting with Q2, Q4, Q3 and Q1 as I understood most people fail wasting time on Q1. So, my plan was to answer the interpretation questions and theory ‘easy mark’s and then have time for Q1. My time management was good but sadly Q3 and Q4 were not what I had prepared for per mocks and tuition. Praying for a 1st time pass and miving on next week in faith to sart studying AAA knowing that 15% of this syllabus is still applicable to SBR so no time really wasted if need to resit in September. But may stick to just the INT versions. Good luck everyone for the results in July.

    June 6, 2024 at 10:23 pm #706873
    AudBern
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    On Q3 what did people decide on out of sub, assoc and JV?

    June 6, 2024 at 11:08 pm #706874
    Shehzad
    Participant
    • Topics: 1
    • Replies: 54
    • ☆☆

    I think it was a joint venture due to separate legal entity

    June 6, 2024 at 11:31 pm #706875
    nalanono
    Participant
    • Topics: 2
    • Replies: 7
    • ☆

    joint venure must have equal rights to make decision and it was not the case in this scenario.

    They also had 2 of 5 directors and 49% of shares and no ability to make most of decisions on their own, therefore I have choosen an associate

    June 7, 2024 at 6:19 am #706882
    hotteto
    Participant
    • Topics: 8
    • Replies: 10
    • ☆

    I got a question about how CLIMATE CHANGE affects IMPARIMENTS and PROVISIONS.
    Personally I don’t like this kind of very general questions that tend to rewards people are good at making up things rather than those who studied well…

    June 7, 2024 at 6:51 am #706886
    mishmish80
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    I chose to be subsidiary because he can control the distribution and all of the contracts through his company so he controls the variable returns from operation

    June 7, 2024 at 7:16 am #706890
    AudBern
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    I put JV as conditions were agreed in advance and couldn’t be changed hence decision would have been unanimous and contractual as can’t be changed, also the separate legal entity and the fact both were making decisions on different areas suggesting joint control over significant influence. Also the fact it represented an interest of net assets over the entity. I think it could have been argued any one of the three ways as the line was very blurred (we’ve all given a different answer!) and hopefully the mark scheme allows for this.

    June 7, 2024 at 7:45 am #706903
    Shehzad
    Participant
    • Topics: 1
    • Replies: 54
    • ☆☆

    all the decisions in regards to conses was made before the incorporation of the entity

    June 7, 2024 at 9:16 am #706907
    irisirisiris
    Participant
    • Topics: 1
    • Replies: 2
    • ☆

    I got exactly the same questions. Does anyone know how to answer Q3. why do investers find equity instruments and debt instruments confusing?

    Many thanks

    June 7, 2024 at 10:05 am #706910
    nevarsan02
    Participant
    • Topics: 0
    • Replies: 3
    • ☆

    Does anyone know the answer to the last question on SAR? I only worked it out the for cash settlement basis

    June 7, 2024 at 6:22 pm #706941
    JG30
    Participant
    • Topics: 0
    • Replies: 6
    • ☆

    I had only about investments in shares and I wrote that investment in shares are valued at OCI or fair value through profit and loss and that usually not many people understand the reason for inclusion some of the entries in OCI
    Also that the inventor will look at profit and loss to access the financial performance which will also give them insight of earnings per share
    Confusing because different measurement methods of the same investment cannot be compared like for like
    If other company which have the same investment measures this investment through other comprehensive income and other through profit and loss then there is no comparison between these two

    June 7, 2024 at 6:25 pm #706942
    JG30
    Participant
    • Topics: 0
    • Replies: 6
    • ☆

    I had about CEO who had choice to take it as cash or equity
    And in the end he chose cash
    But we needed to provide with the results for 1 Jan 20×6 so at the beginning these share options were given and that time company did not know which option CEO will chose
    In the end I did this wrong
    But I think it was counterparty where this should be split between liability and equity

    June 8, 2024 at 12:06 pm #706984
    quytuan
    Participant
    • Topics: 116
    • Replies: 46
    • ☆☆

    I have 3 question like @addieboo123 but question 4 is the climate change and impairment and provision but I can not remember clearly. Anyone can help me state the content of this question @hotteto?

    June 9, 2024 at 8:37 am #707030
    musumba
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    It was a fair and tricky paper but time was a limiting factor

    June 9, 2024 at 8:38 am #707031
    musumba
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    Do you remember the marks allocation for Q3?

    June 10, 2024 at 9:20 am #707074
    quytuan
    Participant
    • Topics: 116
    • Replies: 46
    • ☆☆

    can you state more information about question 4. I have the same set of questions as you from question number 1 to 3 but fore question 4, i am unsure and I cannot remember.?

    June 18, 2024 at 11:03 am #707388
    nevarsan02
    Participant
    • Topics: 0
    • Replies: 3
    • ☆

    I had UK GAAP for part b of this question which was 15 marks . For part a it related to IFSR15 Revenue – something like 7 marks, 5 marks, and then a 3 marker.

  • Author
    Posts
Viewing 25 posts - 1 through 25 (of 25 total)
  • The topic ‘*** June 2024 ACCA SBR exam – Instant Poll and comments ***’ is closed to new replies.

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