AS_Anonymous
Badges: 3
Rep:
?
#1
Report Thread starter 3 weeks ago
#1
How did everyone find this? Found this stupidly difficult, particularly with Q3
2
reply
bbowyer
Badges: 4
Rep:
?
#2
Report 3 weeks ago
#2
(Original post by AS_Anonymous)
How did everyone find this? Found this stupidly difficult, particularly with Q3
Yes! It was vvvvvvv difficult! Not like anything else I’ve ever seen!
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#3
Report Thread starter 3 weeks ago
#3
There was absolutely nothing in the QB we could refer to!
0
reply
Anon_P123
Badges: 1
Rep:
?
#4
Report 3 weeks ago
#4
Good news is I didn't struggle for time. Bad news is that it was because I didn't have anything to write about for Q3..

How do you decide if divisions are material? Didn't know anything about disclosures either.

I hope I scrape by but i think I'll have to retake lol
0
reply
elgato
Badges: 3
Rep:
?
#5
Report 3 weeks ago
#5
Yeah it completely threw me, Q3 especially. I've never seen anything really like it before. And I would have called myself pretty prepared, not anymore
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#6
Report Thread starter 3 weeks ago
#6
Think you had to look at the criteria about 10% revenue, operating profit and assets and 75% external revenue. Disclosures was nonsense honestly. I can’t believe they put that in
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#7
Report Thread starter 3 weeks ago
#7
@hipster913 I think that’s right. Essentially was UK and India. I wasn’t a big fan of the exam
1
reply
Anon_P123
Badges: 1
Rep:
?
#8
Report 3 weeks ago
#8
What did you get for Q1? There were quite a lot of issues but I think predominantly was based around treatment of FVOCI?

Weird investment line as well ? Which was then a JV?
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#9
Report Thread starter 3 weeks ago
#9
@hipster193 I think I included the other small division. Such a stupid q. Never mind mate! Focus on the remaining ones, assuming you have SBM tomorrow?
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#10
Report Thread starter 3 weeks ago
#10
@Anon_P123 Inconsistent with accounting policy so you had to essentially reclassify everything to make sure it was in line with the policy. Yeah the investment was a JV and inter company loan
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#11
Report Thread starter 3 weeks ago
#11
(Original post by hipster913)
Ha I do indeed! I generally went in well prepared tbh so was abit shocked as the exam progressed, spent far too long on Q1 then screwed my timing and didn't finish question 2! How was your second question answers, share options seemed okay and lease on second proprosal but didn't even get round to tax bit.
Unlucky mate!!!! I went in quite prepared and got thrown off by a stupid amount of financial instruments questions. Couldn’t complete the loss allowance on the corporate loans. Share option was okay but like you, I couldn’t finish the deferred tax stuff which were a big chunk of the marks. Definitely going to be a resit for me!!!!
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#12
Report Thread starter 3 weeks ago
#12
(Original post by hipster913)
Spoke to quite a few people after the exam who shares similar feelings that they don't think the exam went very well. Haha, agree with you on los allowance, so shouldve been over total expected defaults and they had done it over lifetime, but then i couldnt re calculate it based on the info that was given so gave up ha!

Btw, did you do share option over two or three years?
Did it over 3 years. Not sure if that was right but the average over the two years was 15%. 3rd year was 18% so went with 3 instead of 2.
0
reply
AS_Anonymous
Badges: 3
Rep:
?
#13
Report Thread starter 3 weeks ago
#13
(Original post by hipster913)
Ah bugger, I went with 2 on the basis that the average needed to be greater than 14% ... ah well. Hopefully the others are nicer, not good though after months of prep.
Unlucky man! Doesn’t matter. You should get follow through marks. Have you got SBM and case?
0
reply
avf
Badges: 1
Rep:
?
#14
Report 3 weeks ago
#14
What did you get for Q1 the first requirement for the sub, cost less impairment - I was overthinking it and wasn't sure what I should be doing haha
Last edited by avf; 3 weeks ago
0
reply
avf
Badges: 1
Rep:
?
#15
Report 3 weeks ago
#15
(Original post by hipster913)
For the JV? I used cost plus the share of loss. not sure if that was right though...
Mmm no not for that one (but that was what I did so don't worry haha). It was the investments of HC which were £5,000,000 and the accounting policy was measure cost less impairment but there was no group structure change or something along those lines
0
reply
avf
Badges: 1
Rep:
?
#16
Report 3 weeks ago
#16
What did you get for Q1 the first requirement for the sub the cost less impairment - I was overthinking it and wasn't sure what I should be doing haha
0
reply
xxmeelonxx
Badges: 2
Rep:
?
#17
Report 3 weeks ago
#17
For the right of use asset tax allowance - what did you guys put?
0
reply
Anon_D1010
Badges: 1
Rep:
?
#18
Report 3 weeks ago
#18
Think it said 30% first year and 18% afterwards.So I just did 30% tax depreciation on the ROU asset and 18% WDA on the other PPE TWDV figure.Added back the accounting depreciation charged on the other PPE
0
reply
xxmeelonxx
Badges: 2
Rep:
?
#19
Report 3 weeks ago
#19
(Original post by Anon_D1010)
Think it said 30% first year and 18% afterwards.So I just did 30% tax depreciation on the ROU asset and 18% WDA on the other PPE TWDV figure.Added back the accounting depreciation charged on the other PPE
I also did this but the number was just so big at approx 8m. Thought that I did it wrong because my expense was negative for tax but I could be going completely wrong
0
reply
K1NE
Badges: 9
Rep:
?
#20
Report 3 weeks ago
#20
Apologies to ruin the flow of the convo guys. Just curious to know about thoughts on SBM ? Do most people pass SBM ?
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How are you feeling ahead of starting University?

I am excited and looking forward to starting (58)
13.81%
I am excited but have some apprehension around Covid-19 measures (55)
13.1%
I am concerned I will miss out on aspects of the uni experience due to new measures (159)
37.86%
I am concerned the Covid-19 measures at uni are not strong enough (45)
10.71%
I am nervous and feel I don't have enough information (81)
19.29%
Something else (let us know in the thread!) (22)
5.24%

Watched Threads

View All
Latest
My Feed