• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

June 2025 ACCA Exams

How was your exam? Comments & Instant poll >>

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

*** March 2024 ACCA FR exam – Instant Poll and comments ***

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › *** March 2024 ACCA FR exam – Instant Poll and comments ***

  • This topic has 24 replies, 11 voices, and was last updated 1 year ago by Dhuweshkhar.
Viewing 25 posts - 1 through 25 (of 25 total)
  • Author
    Posts
  • March 4, 2024 at 9:46 am #701912
    opentuition_team
    Keymaster
    • Topics: 1391
    • Replies: 1405
    • ☆☆☆☆☆

    How was your March 2024 ACCA FR exam?

    Vote in the Instant Poll


    (Comments will be opened after 5PM UK)

    March 4, 2024 at 7:06 pm #701959
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 1
    • ☆

    It was normal

    March 4, 2024 at 7:08 pm #701960
    kam1284
    Participant
    • Topics: 0
    • Replies: 2
    • ☆

    So who had single entity financial statements with requirements to make balance sheet, pl and cash flow from finance operations? What did you do with contract asset?

    March 4, 2024 at 7:28 pm #701963
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    I had a trial balance . Had to do a P&L, SOCIE and cashflow. I didn’t like it. I spent more time practicing consolidation

    March 4, 2024 at 7:40 pm #701968
    jonnhy138
    Participant
    • Topics: 0
    • Replies: 95
    • ☆☆

    What did u guys get for goodwill in the consolidation question( ratios )part?

    Where they said that the parent would further pay $1 for each share acquired and there was a cost of capital of 10%??

    March 4, 2024 at 7:43 pm #701969
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    I can’t remember what I got. My mind had gone blank

    March 4, 2024 at 7:56 pm #701971
    addieboo123
    Participant
    • Topics: 1
    • Replies: 24
    • ☆

    I also had the P&L & Other Comprehensive Income (12 marks), SOCIE (5 marks) and cash flows from investing activities and financing activities (3 marks) question.

    The second question was: Calculate Goodwill upon acquisition, (7 marks), calculate 4 ratios for 2014 and 2015 (4 marks) and lastly.. typical question on comparative performance of the group after acquisition (9 marks). This last one was fun (even though I may have scrambled goodwill a little bit but I’m sure it’s still fine)

    I’m not gonna lie, don’t know how this is possible but I found the actual exam itself a bit easier than the two practice versions and easier than the specimen?
    Anyone else think this?
    I think sections A and B being less dreadful than what I’d seen and practiced in the exam kit lead me into a false sense of security? This is ACCA we’re talking about so I’m a bit suspicious. ?

    March 4, 2024 at 8:14 pm #701974
    Khalid32
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    I had these as well. I could not adjust the first note regarding revenue adjustments but rest were somewhat okay. Loved the interpretation question. What’s the goodwill? I can’t recall but it was around 42k or 45k. Also, did you calculate NCI as nci shares*share price at acq?

    March 4, 2024 at 8:45 pm #701978
    nyamabika
    Participant
    • Topics: 0
    • Replies: 3
    • ☆

    Yah i got 42 something for goodwill …i think that question was easier than the accounts prep

    March 4, 2024 at 8:56 pm #701979
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    This is what I had. You done well to remember,I’ve gone blank. I spent so much time practicing consolidation,I felt rusty on this. Also when I was cutting and pasting to make room ,my formulae was going to zero. Then I was getting really anxious.

    March 4, 2024 at 9:02 pm #701980
    nyamabika
    Participant
    • Topics: 0
    • Replies: 3
    • ☆

    I got the same question but I barely answered it as I ran out of time and I panicked…. hopefully I scored enough in other sections to get a pass mark

    March 4, 2024 at 9:10 pm #701983
    nyamabika
    Participant
    • Topics: 0
    • Replies: 3
    • ☆

    I discounted the $16m (80% of 20m shares) using the 10% discount rate which gave me around 14.5m deferred consideration…

    March 4, 2024 at 9:14 pm #701985
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    I think I did this too ?

    March 4, 2024 at 9:14 pm #701986
    T0402
    Participant
    • Topics: 0
    • Replies: 10
    • ☆

    For my first part of section C I had calculate goodwill for 5 marks, Compare Ratios 20X4 to 20X5 GP margin, OP Margin, Current Ratio & Receivable days for 4 marks & then interpretation for 11 marks. It was based on an acquisition of a property agent (I think)
    Apart from probably not getting goodwill entirely correct, I enjoyed this question. I think the consideration paid was £64m & there was a deferred cash consideration also – not sure if anyone else had this question?
    My other question C was P&L, changes in equity & Cash flow which I ran out of time so hardly done anything on.
    Unfortunately I think another resit for me :\

    March 4, 2024 at 9:21 pm #701987
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    I had this. I did the ratio question second, so was short on time for that. Was trying to link to the scenario reading it with one eye typing watching the red timer ticking down . stressful . I wish I had done it first it was a nice question. I found the P&L tough

    March 4, 2024 at 9:23 pm #701988
    jonnhy138
    Participant
    • Topics: 0
    • Replies: 95
    • ☆☆

    Seems like everyone is getting a completely different goodwill

    I got 27.72m

    Some got 54m others 703k..

    Im sure its the net assets calculation that we probably messed up since the Consideration, deferred consideration and the NCI seems to be the same for all of us

    March 4, 2024 at 10:17 pm #701991
    Spottydog
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    The only question I vaguely remember was a cash generating unit, but there was no value to work it out from. Was it just me??

    March 4, 2024 at 10:24 pm #701992
    JT01
    Participant
    • Topics: 4
    • Replies: 22
    • ☆

    I remember this, I flagged it to go back but had no time. I was impairing by 2.5 but couldn’t get a matching answer.

    I think it was based on the RA that were given above, I think. But one of the items had depreciation so I was going wrong with that I think

    March 5, 2024 at 9:10 am #702029
    ccpp
    Participant
    • Topics: 0
    • Replies: 9
    • ☆

    I am a bit stressing now. I got GW on acquisition, and then interpretation for first question. Second one I got a single entity P&(9marks) AND Financial position (8marks) and then a segment from the cash flow think it was financial part (didn’t answer as 3 marks and ran out of time). But everyone is saying the second part was SOCIE? Did anyone else get the (b) part to be SOFP?????

    Exam was annoying tbh. A lot of trick questions and section B on investment properties I knew gain was to go to P&L but stupidly talked myself into thinking revaluations go to OCI for NCA. So annoying…annoying how they basically ask the same questions again so if you get it wrong you miss 4 marks instead of 2!

    March 5, 2024 at 12:58 pm #702050
    Khalid32
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    What about section B first impairment question? Recoverable amount is higher of fair value less disposal cost and value in use. I choose it as false considering “Recoverable amount is higher of fair value less cost of sales and value in use”. I am still confused whether it’s correct or not.

    March 5, 2024 at 1:01 pm #702052
    Khalid32
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    @spottydog Exactly, flipping I spent nearly 15 minutes on that question by coming back and forth but could not get my head around. Besides, the question was under two different Co name. CGU impairment for one company and top part was for another company. Besides, they did not specify which is the new CGU group value. Can’t remember what I choose but I think it might have been 5.5m.

    March 5, 2024 at 5:19 pm #702072
    mohsaminusam
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    You are not alone… But it was normal… I was confused about some of the standards. I think it was easier than I expected.

    March 5, 2024 at 5:23 pm #702073
    mohsaminusam
    Participant
    • Topics: 0
    • Replies: 4
    • ☆

    I really think the exam is suspiciously easier than I expected too… it is scary… addieboo123
    it’s like we studied together. I had exactly the same experience.

    March 5, 2024 at 11:12 pm #702112
    jonnhy138
    Participant
    • Topics: 0
    • Replies: 95
    • ☆☆

    The recoverable amount is computed as the higher of value in use and fair value less costs of disposal. 

    March 6, 2024 at 6:37 am #702130
    Dhuweshkhar
    Participant
    • Topics: 0
    • Replies: 1
    • ☆

    Same, I’ve practiced a lot on consolidation parts and the only question regarding consolidation in the paper was a Goodwill at acquisition for 5 marks :/

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

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • John Moffat on The financial management environment – ACCA Financial Management (FM)
  • Lekhanaa on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • wZaidhan on Sources of Finance – Islamic Finance – ACCA Financial Management (FM)
  • manahylilyas on The financial management environment – ACCA Financial Management (FM)
  • poojam on Objective of financial reporting – ACCA Financial Reporting (FR)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in