Paper F7 Dec 2010 exam was

Q1 and Q2 is easy however my SOFP for both do not balanced. Total Assets exceeds Total Equity & Liabilities by 150k and 200k respectively. IMHO, the theories were really time constraints. the remaining 50 marks required alot of critical thinking and reasonable elaboration to get the marks. I’m in rush for last 2 questions and I think for Q4 II) I 4got to quantify the amount as I’m in rush to finish it on time

@ uid0191..me!!..I think so 😛

fair paper, time mgt was the main thing but couldnt ask for a nicer paper really, thank SS

@kmchugh said:
fair paper, time mgt was the main thing but couldnt ask for a nicer paper really, thank SS

very similar to dec 08 paper i think,
those who have practiced that paper should do well

uid0191,what’s the result did you got for the Q1.Is it 63500.? i can not remeber clearly now

HHmm for me
Qs1 : Profit for the yr: 15000 something
SOFP 64000
Qs 2: SOFP 150 000+

first 2 qs were fair but Ratios i dint comment much plus i think interest cover ratio n debt ratio for 2010 could not b calculated as PBIT was negative loss Right?? n last qs could not complete 🙁 i hope for 50 +

I write FIFO as accounting policy and Life of asset Accounting estimate

in Q 5 i write about dis continued operation

Question 3 was ok, but lenghty

Question 1 and 2 was good attempt, but not balanced 🙁 there was difference of few numbers

time management! missed the last question worth ten marks! but overall it was a fair paper. it was a gamble for me tho.
cheers

@derrickagyiri said:
i made a huge mistake … i apportioned the month for the consolidation wrongly

Pre inquisition is said 4 month and post acquisition i said 8 month

how bad have i fuck up mates .. someone tell me 🙁

Doesn’t matter. Thats just 1 mistake. May b 1-2 marks down. The examiner would check ur paper as per ur month apportionment. I just hope u didn’t mingle up these months in different papers of the question differently. If that was a constant treatment it wouldn’t cost u more than 2. So cheer up 🙂

@tzxsean said:
Q4 I agree with dep as it increase profit ..disagree with inventory as decrease profit

Q5 is about adjusting event and non adjusting event

I did the same for Q4. I just hope its right. InshaAllah

I write about discontinued operation, and made a statement 🙁

am i wrong?

i did the same for Q4 😀 in last 7 min lolz

@tzxsean said:
Q4 I agree with dep as it increase profit ..disagree with inventory as decrease profit

Q5 is about adjusting event and non adjusting event