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P2 question four. isnt it meant to be on a current issue. in the examniable documents by Acca for p2 there is no mention of IAS 8 as a current issue.
it was a very bad exam, i hope i got some elements of the cash flows right
Q1b & c were done goodQ2 had little issues, but i think i could had written more
Q3 a part was very confusing
b & c part were averagely done
I attempted 100%
but i am not very confident to pass 🙁Disappointed with questions 3 & 4 not what I expected at all, especially when question 4 as I hadnt even seen that as a current issue out of all the technical articles and the like.
Disappointed and frustrated.
I thought q1 was ok fairly complex cash flow but doable for the most part.
Q2 not too bad, q3 part a was so confusing to read in the end I just moved on, part b had a good guess part c took me ages to read it so I just wrote down anything I thought was relevant about control / influence but didn’t conclude whether they had treated it correctly.
Hoping I get through on first 2 questions but who knows, sounds like everyone found it pretty nasty though!
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That was tough. Q1b was strange as it asked you how to deal with the 2 different loans? Anyone get that? Q3 Lental and Bental drove me mental and I did Q4 and Q2 which were ok but I’m with you guys – is that a current issue? I was expecting IFRS9, IAS39 or the leases project for Q4. Cash flow was long!
Q1 was ok so as Q2 but Q3 I though is it really part of syllabus as haven’t got a clue how to approach the answer.
I also thought that Q4 seems to be current issues question and on ACCA examinable documents IAS 8 is not mentioned at all. All those current articles I did just wasted and ended up doing Q3 which was horrible.
I’m definitely doing this paper in June.
Q1 although I had not prepared for cash flows but still new the basics adjust non cash and put it cash flows so got throw well and on time and then took a break for prayer and had to go to toilet so after 10 minutes break my nightmare begins
Cash flow was nice except adj 1. refurbishment cost and govt grant. .. and the building revalued without any info of dep for the yaer. it was really confusing. i did get tax right.
For q 2 and 3, it seemed to me like examiner wanted to ask all the rarely asked topics all in this attempt. I had done a very thorough stud this tym and so managed to write. many of the students leaving for my hall complained they didn get which IAS applies
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Question 1 ok but was out 12m on my cash flow so at the very least 1 mistake made in calculations, part b & c not too bad.
Q3 looked horrible so settled for 2 & 4, hoping I picked up enough points there for a pass!?? Wasn’t expecting IAS8 as current issue but looked more doable than q3.The paper was tough Q1 had too many adjustments made to confuse us which I was unfortunately. Q2 was ok Q4 was very different from the current issues if it is. already reading for the next sitting.
Who can provide answers for Cash flow?
Any one had agreed the movement and the cash balance?
I was unable to finish the paper – 15pts loss.
I think the revaluation in the cash flow, the subs acquisition & PPE was hard?
Any one got them right????Q1 cashflow 110 cash movement? Working cap 41 inv 58 rec (210) payables. Contributions 9. Tax 129.5. Finance 10 sales proceeds for fa 40 profit 14? Goodwill imp 25 and 90 intangibles. Pension benefit remove 8 depreciation 29. Reval gain of 7. Govt grant 2 cash share issue 225 div paid 16. Div rec 3.
Q2a rev rec? 2b ifrs 5 held for sale? 2c sale and lease back.
Q3 confusing as hell…. got nci treated correctly? 3b fvtpl n cf hedge treated correct? 3c ifrs 3 bental acquirer
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How was the deferred tax calculated? I deducted the tax base from the carrying values of the assets too and added to my tax working
Q1 cashflow was relatively good, and Q3 part b and c, Q2 and Q4 was very horrible, IAS 8 was brought in full detailed question, I expected current issues to be in Q4 to those updated in articles, overall, i assume this is the toughest paper at all times comparing to previous sitting for p2
I also thought there are so many areas in syllabus but why only test on groups too much. Q3 A and C was also to do with business combinations NCI stuff etc.
Thats the problem with P2 if you don’t get to do Q4, your margin of error is so small as the case in this exam Q3 was horrible so if you think of scoring average on all questions, you get a hard time.
I found it difficult to work out exactly what the question was asking for in q’s 2 and 3. You spend so much time learning everything would it be so hard for the examiner to give a little direction at times rather then expect you to guess at what is being asked?
Q1
A) Cash flow – answer okish although messed up some of the calcsB) No idea what they where banging on about here? Wasn’t sure the treatment of either i or ii the $3m cash bal and the $7m cash bal with different interest? Any ideas? And what did you write about the rest of part b?
C) Liked the ethics bit think this went ok
Q2) not great – what did you put for these?
Q3) not great – what did you put for these?Q4) didn’t attempt again thought this was going to be Financial Instruments current issues.
Very stupid and unfair exam. Had conversation with some other students. No one get all to understand what was really asked. I just wonder what the examiner really wants to test??? Knowledge? Skills? I’m sure nobody from qualified accountant can do this in 3 hours time without reading appropriate Standard. I also assume that not everyone trying to pass exam in the world is native English speaker and some expressions are really difficult to understand for English speakers. Who have done UK version?! What is the difference between UK GAAP and IFRS for deferred taxation? Many years I am doing year end accounts. 4 years in the UK. Never heard about any difference! Have gone through 3 audits from Big 4. I can assume that there are some, but not for 9 marks to discuss!!! I’ve tried to write all, but I think I didn’t pass. Many areas tested in practice are not popular issues. Very disappointing not practical and unfair
Tax on sub was calc at fv minus tb as when u acquire an asset its at fv. So diff was 5 tax at 30%. =1.5?
Q2 NCI anyone treat this as a Financial Liability rather then NCI? Don’t worry if not its extreamly likley I did this like most of the paper wrong!!
For q1 b I talked about the 3 different types of cash flows (operating, Investing and financing) explained what each is and why they are separated (ie to help users, not same as profit etc), then talked about the 2 investments I said that the second one was cash equivalent as entitled to interest even if withdraw in the first 12 months. No idea if right tho!!
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