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Hi all,
I had too many calculations in section AHad you ?
Yes same, Section C got a single entity profit and loss and Comprehensive income. Also Goodwill calculations and Ratios analysis
got p&l and comprehensive income too! do you remember what we had to do with the revenue adjustment in this? the note mentioned that it was ‘already included’ in the trial balance amount. So were any adjustments supposed to be made in that? I calculated both products through stand alone price method. But had no idea if it had to be included since the note already mentioned that it was??
Also for the goodwill calculation of 4 marks what was the answer? I think I got $703m or something
Hey for the revenue I think you have to approtionate it and then the amount for the maintenance you have to recognise one year of revenue and the rest goes to deferred income. I think that was right anyway.
Did anyone else get around $933,000 for the Goodwill calculation? I think the cost of investment was 925,000 then added the FV adjustment for the building and then the NCI. Then had taken away the net assets at acquisition which was around 285,000 I think. I completely messed up on the loan notes questions.
I think I got around 330,000 for net assets. It was share cap + re + FV adjustment of the building for what I done. And for loan notes I think I messed up the accruals part but hopefully I get some marks for the correct working …
That was a weird exam. Section A and B for me seemed too straight forward but I wasn’t complaining. Hoping to have scored really well in those sections. Section C on the other hand! Studied for consolidation and typically it didn’t appear. Single entity adjusted profit schedule then prepare the SOFP. Should have been OK but the adjustments were detailed and it just threw me a bit
Not too difficult but ran out of time because of the remote system they used was a bit slow. the cursor just jump all over the place, which was frustrating.
Did anyone get the calculation of ROCE or Gearing ratio? No NCA or total assets were given.Assets don’t form part of the ratios for ROCE or Gearing.
ROCE = PBIT / Capital Employed (Equity, Debt)
Gearing = Debt / Equity
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