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How did you guys calculate the fairvalue of initial 150,000 shares on date when control was acquired?
joshwest12 wrote:Anyone know if it is worth raising the issue with ACCA? If enough of us do it?
Based on the general performance of everyone who took the exam they’ll amend the pass rate or bring more into the mark scheme to be more lenient. It’s based on averages
The first paragraph stated that 70% was obtained throughout the 3 years so it was quite tricky to follow the timeline and figure out what the NCI percentage was for the goodwill calculation.
Lots of tricky parts in this exam it was perhaps challenging us to work very systematic but I personally wasn’t prepared for this … I’m sure this will be a rewrite for me .. preparing for it now already next time we’ll be ready
100% agree, it seems like they are inconsistent with difficulty in the paper. The 2018 paper was much easier and do-able compared to this paper, it’s not fair.
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Not 100% sure this was the correct order of the questions, but as far as I remember:
Q1 a) was a step acquisition 15 % first, then a further 50% and GW + treatment of HFS PPE sold 1 month after aquisition (I’ve never came across a similar question in any of the past exams; it was weirdly formualted and not a straight forward adj to FV of net assets- resulting in an adjustment of GW) and finally a further 5% equity aquisition.
b) was aquisition of another sub which had a defined benefit pension plan; management wanted to make adjustments and contribute more, but the actual plan adjustment was made after aquisition
c) a court case implying a contingent liability which the sub was guaranteeing the parent a maximum amount payabe – again very twisted scenarioQ2 a) Ethics- some unreliable AI platform approving customer loans without proper credit checks and accountant who knew about it, but no measures taken; he was also paid commission on the loan amounts granted
b) Internally generated IA (database) -recognition criteria + recognition in a business combination
c) IA – research and development costs previously capitalized; management wanted to exense all the costs as they were unsure the criteria was met at the time of recognition
Q3 a) Imapirment under FRS 102
b) defered tax asset
c) revenue recognition and lessor accountingQ4 a) EBITDA – calculated in a non-IFRS method- reasons why this can create problems for users of FS
b) presenting EBITDA next to EPS
c) leassee accounting- and effects on EBITDA (it was treated as operating lease in the lessee’ s accounts)
d) presnetation of extraordinary events (some restructuring losses which were also incurred in previous periods)Agree with the majority. It was a very difficult paper and none of the scenarios were even vaguely similar to past papers! It’s really demotivating when you sit a paper like that.
Not everyone has sat their exam, you’re aiding them in cheating by posting this. That could impact the average marking.
Disaster paper. A lots of trap and information , not enough time to analysis and the scenarios were super hard. I know the Pre opening cost and restructuring costs are exceptional item but the question stated the Company often do these. So it is consider recurring item?
Did anyone notice in the last question of question 4 to recalculate the EBITDA from the info in the extracts but there was no spreadsheet function for this question to do the calculations on?!
Not sure if we were just meant to do it in the word doc or whatever? I only had 3 minutes left at this point point so was in a blind panic, definitely a resit paper
my q4 is not about EBITDA.. its about the pandemic and and government and bank relief..
(i)ability of remaining as going concern
(ii) accounting for onerous contract
(iii) f/v of investment property(b) what is the nature of information that investors expect to be disclosed.
I just feel this exam abit hard to understand the scenario at first for Q3 & Q4, have to keep reading at least 3 to 4 times, with time pressure this really difficult to concentrate to digest the information faster. Overall all the questions are quite tough, and not much calculations are given for marks this time, mostly application to the accounting standards. I also got the EBITDA for Q4 for 25%, this was really make me panic and keep writing without knowing whether it is what the examiner wants based on question requirements.
No time to check the answer although I have answered all questions until the end of exam.
It was a time pressure paper ever and harder than all past year exams that I have read. Really hope this paper can give me at least 50% passing rate..
I got an email from ACCA for the exam feedback just now and needless to say the feedback I gave was not positive! Urge everyone to fill this out.
Lguicci wrote:I got an email from ACCA for the exam feedback just now and needless to say the feedback I gave was not positive! Urge everyone to fill this out.
I just did the same thing, made it clear that that exam was not testing knowledge and application it was testing people on how calm they can stay in extreme and unnecessary pressure. How is this preparing anyone for the world of working in Accountancy. Very disappointed in ACCA this week.
joshwest12 wrote:How was your March 2022 ACCA SBR exam?
Has anyone paper was like mine like I haven’t tested EBITDA mine question 4 was about post penedemic effects and APM was not tested
Mine was same and as other people are saying that EBITDA was hard our was easy I believe like APM was not tested at all but yeah question 3 was hard
Also completed this!
I’m hoping enough people will do the same if they also feel they were set up to fail.
Hopefully this way ACCA hear us, I’m not prepared to spend more money more time and effort for another joke of an exam if i need to resit in JuneDisaster! Never failed a single exam in my life. This is ridiculous from the examiner side. What are they trying to achieve, probably generating revenue from exam fees. Very much time pressured too let alone scenarios complexity.
Guys please complete the feedback but also send an email complaining the whole structure of the exam etc.. I gave up on my family time, sacrificed 3 months and depreived my kids of any quality time . What a waste..
protant wrote:Mine was same and as other people are saying that EBITDA was hard our was easy I believe like APM was not tested at all but yeah question 3 was hard
Which standard in ques 3
I totally understand your pain. I have 2 young children and I have spent lost of weekends and evenings studying hard for the exam and making sure I am ready for it. I came out of the exam very demotivated, lost and thinking of giving up ACCA as I thought I am not good enough to qualify.
I was relieved to find out that everyone else had the same opinion on the exam and is nothing wrong to me.Just wondering what else we could fill out, apart from the questionnaire, to ensure the ACCA will hear us.
Disaster. Three months of studying just to get tested on niche topics like ebitda, indemnification of assets, and professional challenge from using malfunctioning AI program to issue loans. Waste of time and money.
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