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The scenario mentions about “the decline in sales of 1 of Parker’s most successful brand.” However, why in examer answer, there is no mention about IAS36: impairment, over brand name?
In case I suggest different Additional information from examiner, for example regarding Revaluation Reserve, examiner suggest for information over expert’s qualification and independence. However, if I suggest for breakdown of Operating Expense in case Revaluation Reserve is offset in Operating Expense, is it possible?
I find my exam is shorter than examiner’s, what should I do to feel confident that my answer and could also get marks even they are not that good? I feel so down when I look at examiner’s answer after I have written mine. Can you give any tips?
If you look in the SoFP the only intangible asset is development costs – so there is no carrying amount in respect of the “successful brand”. (That Parker is developing a new brand also suggests that the old brand was internally-developed rather than purchased, so may never have been capitalised.)
I really don’t know what you mean about revaluation being offset in operating expenses.Please see the answer to my post about “additional information” requirements https://opentuition.com/topic/march-june-2017-q1-holly-co/
I hope your answers are shorter than the published answers 🙂 My number one piece of advice is “think more – write less” – every well thought out point will earn a mark (even 1.5 if it displays a “higher skill”) so if a part of a question is 8 marks and you have 6 good points that’s a good pass on that part. Markers don’t weigh scripts – you will make the marker happy if you go for quality rather than quantity. (A prize winning script does not fill a booklet.)
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