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Guys how did you address below :
Question 1. Part A : step acquisition: fair value of asset and liabilities were given not FV of net assets, how did you calculate FV of net assets?
Question 1 Part 2: Along with capital contribution (cash payment), loan notes were also issued to the new entity by the investor, did you consider loan notes also in calculating investment in JV?
khandelwalmak@gmail.com wrote:Guys how did you address below :
Part 1: The FV of the assets and liabilities is the FV of the net assets, but you do have to figure out the FV of the asset not captured in the net assets. I used to value of the share capital and retained earnings as such:
Share Capital = $10m
Retained Earnings = $42.3m
FV of Land (or PPE), bal. fig = $3mSum: FV of Net Assets = $55.3m
Part 2: Yes, you consider the loan notes when calculating the Investment in the joint venture. Since the FV of the loan notes was given, I didn’t do any additional calculations and just used that.
Just completed a rescheduled exam for SBR, I felt that the first one I sat ( reschedules for tech issues) was way too easier than this one. I had cash flow, defined pension calculations, just a bit of revenue, lease, a grant for allowance emission which was for free.
Question 2 for ethics was just for 9 marks including professionals skis marksIt makes me think about threat of self-interest of ACCA wanting students to sit exams at centres to be honest. Who is reviewing this? Just a thought
Hi,
I sat today as well due to the technical issue on last Thursday.It was very very hard exam.
1. It was about DB which was part through of the year, different service cost very hard to absorb the info.Good will for 5 marks
Rest of the the first question didn’t understand as it was all about Financial assets flying everywhere, very scary stuff.2. Cash flow was everywhere in ethics and
3. About revenue
Business combination with Investment and PPE on the lease somehow included as sold and the party has not agreed on the lease4. Sustainability and environmental
Sales tax, Deferred tax, Fx on purchase and salesVery difficult exam as compared to what I have seen on SBR another Sep settings.
Feels like I will end up Rebooking this exam.
Please don’t book exam at home as this idiots Person Vue don’t what they are doing.
Took them 2 hours to find my details on exam day so could not give my exam on 8th Sep.
Really upset with Person vue and didn’t get enough support from Acca too when called.
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