SBR*** September 2022 ACCA SBR exam – Instant Poll and comments ***

My exam had so much Revenue related content:-(

Anyone done the question which was split down to three, climate change impact on ppe, impairment and something else

I said that climate change is material cause it has an impact on the decision of users of financial statements and should be disclosed in financial statements

I had that. Had no idea how to relate Intangibles to the question.

What about the dodgy director

1. Step acquisition, how to account for it in financial statements, the last part of 1 I was sure was a joint venture as it was organised through a business with a contractual agreement so needed to be accounted for using the equity method ??? 2. Revenue - service contract over time as she consumes it via the reports and presentations over time and the licence is part of the same performance obligation Ethics straight forward. 3. Messed up first part of 3 I wrote about deferred tax but then put in about a provision for the tax claim as it wasn’t 100% certain to make a deferred tax claim Interest gains you don’t use a single rate as it’s same as IAS21 the gains aren’t held in equity I think. OCI if gains are there profit and loss will only show trading gains. The revenue last bit was best part of three as it was about garden centres and when control passes to the customer. Just needed to adapt the magazine question from the book. 4 Climate change was easiest question reconditioning machinery and repairs, development assets as tries to make its machinery less co2 producer Impairment just said process and said why things will be impaired with the coal sales dropping and the Damage to machines Provisions - reconditioning provision In summary messed up first bit of three, rest I felt were straightforward.

JMcDaid96 wrote:I had that. Had no idea how to relate Intangibles to the question.

I used R&D costs

Jessica1997w wrote:I said that climate change is material cause it has an impact on the decision of users of financial statements and should be disclosed in financial statements

Mentioned materiality IFRS note where they state about how to set out management xommentary. Also mentioned un charter 17 points esg reporting and inter grated reporting. Basically put there are other ways to express materiality of climate change if they can’t express it through IFRS standards.

Mine was 1. Investment in associate - additional acquisition of share 2. Revenue - license and service 4. climate change affecting Financial statements and apply through standards - ppe, intangible assets, impairment, ias 37 not able to remember q3 :0 I hope for pass,

There were contingent liabilities on the climate change question Insurance and potential fines I believe

Does anyone remember the marks allocation let each question

4 was climate change 5 6 6 6 2

What did anyone write about the ethics of the director, and there was another question related to it

On question one did everyone remember to use the fair value acquisition gain in the profit second part

usmn567 wrote:What did anyone write about the ethics of the director, and there was another question related to it

Threats to objectivity, familiarity. Poor treatment of leases could be seen as a way to get the business to have more tangible assets to boost the share price. He needed to learn the software before using it as data protection breeches, needed to tell directors about his friend. Needed to be warned about insider trading. Was lots to mention

Jessica1997w wrote:Does anyone remember the marks allocation let each question

De-recognition of PPE, capitalisation of additional spend on PPE, development cost for intangibles. Impairment of assets, provisions for re-org, fines. At the end I did say things about going concern. etc

Was the first question in section B I forgot

Must’ve missed the deferred tax aspect.. where was that?

Guys what was the question above the questions about ethics?

NBhinder wrote:

Jessica1997w wrote:Does anyone remember the marks allocation let each question

And provision for decontamination of land.

Annoyed didn’t get reorganising provision but got decommissioning - can’t get them all

Jessica1997w wrote:Guys what was the question above the questions about ethics?

It was revenue from service and license. Are heae two separate obligations and second part I have forgotten

ryanwilkes1985 wrote:Annoyed didn’t get reorganising provision but got decommissioning – can’t get them all

I went with joint operation on the joint arrangements question. I am still not sure.

Joint venture, was a separate entity

NBhinder wrote:

ryanwilkes1985 wrote:Annoyed didn’t get reorganising provision but got decommissioning – can’t get them all

Was through a company with a contractual agreement - joint venture to me

Where was deferred tax?

ryanwilkes1985 wrote:1. Step acquisition, how to account for it in financial statements, the last part of 1 I was sure was a joint venture as it was organised through a business with a contractual agreement so needed to be accounted for using the equity method ???

ryanwilkes1985 wrote:Was through a company with a contractual agreement – joint venture to me

Oh.....I missed the word Company.....not goodd

Question 3 part 1 The guy owed a lot of tax I put about a provision, he needed to make an estimate, it wasn’t certain though so wasn’t sure if it was deferred tax or not ? The interest question was easier same as IAS21 except no equity reserve and profits don’t get reclassified to profit from oci. Second part was saying how it could show pure trading with less variability if they have lots of foreign exchange. One exchange rate is advantageous as it could artificially boost assets and gains making the business look stronger and more profitable.

ryanwilkes1985 wrote:Was through a company with a contractual agreement – joint venture to me

How dumb I could be.....it was always a separate company ..... Time pressure is it.

Did you do the morning or afternoon uk paper.. I don’t remember seeing anything on interest unless I skipped it by error ?