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Wishing all the best for all of us

[3mr]

I got the question of RoMM only for 22 marks

Why did they show internal and external sales? Should we have calculated materiality on external revenue because it was group? Or on whole revenue normally

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I posted this incorrectly here, I intended to post it in AAA forum
Link: https://opentuition.com/topic/help-me-understand-what-to-not-write-in-an-answer/#new-post

Please delete if possible because I cannot delete it.

[3mr]

Failed in my first attempt at 45.
I thought I would succeed since I feel it went good.

I want to study with someone to motivate and ask questions

Please hit me up if you plan to go for December session and wants a study buddy for it

[3mr]

@ddmoo said:

38 marks for Pestel, Porters 5 forces and SA (suitability and Acceptability) of SAF in Q1. And then in Q2 you’ve got 18 marks for Balogun and Hope Hailey! That’s 56 EASY marks!
.

How did you use porter and pestel?

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When the model answer will be uploaded?

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I approved the project as it had an NPV oof positive at end of year four

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I said that Diagrama and what is this are starts as they have both “high maket share” and “high growth over years” and said that PP is a question mark as it has low on both. But suggested to keep in the portfolio because it serves both MKI and Diagrama

In analysing the three benefits of the appraisal, specifically in the increased sales, i stated the porters strategy clock to assess whether the increase will have the value NEEDED by customer and whether the right price is charged or not.

I stated that MKI is a ‘synergy manager’ as a portfolio strategic manager.

In Q2 i suggested that the time series analysis is good as a forecasting technique, but care should be taken to use the regression analysis, the time is not correlated and forecasting cannot be made using data of 2016 only. And the number of stores is not correlated either with increased sales.

[3mr]

What is the role of a finance team member in change management?

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I should have done Q4 instead of Q3. I would lost the marks of Deontological explanation, but would gain the other marks.

Anyone noticed that requirements 2 and 3 of Q3 were too similar?

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You are welcome. If you found something to add in this engagement tell me. I want to apply what I learn 😀

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Thank you for your answer.

Yes, I have came across this issue twice.

The first one was exactly as the example. And the tax officer required company A to recognise income for the not-invested loan. But as for audit, it passed as both parties accept this transaction.

The second one was a related party (Company A) paying the expenses of it’s sister company (Company B) and incurring overdraft interest expense for those expenses. The company B only pay the expenses without incurring any interest expenses. It passed Both the auditors and the tax officers didn’t comment on this transaction.

[3mr]

Many thanks mr John

[3mr]

Yes, thank you. I was wrong.

What if we used the same date in analysing the variance between the previous year’s sales and current year’s sales to know the effect of price change and effect of sales volume?

I replace the budgeted cost with previous year’s sales price.
and I replace budgeted quantity with previous year’s quantity sold.

I use this formula in my audit of sales as an analytical procedure.

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@f4sj said:
no if it was conventional she would had followed norms principles and values of her ‘work place’ i.e she wouldnt had told the newspaper or whatever it was BUT since she did NOT keep mum about what was happening, post conventional cmd was being demonstrated as she viewed the dilemma from universally accepted ethical and personally developed ethical guidelines , but that is just my answer

Okay, one question down. I hope I answered the rest correctly 😀

[3mr]

Thanks mr. John. Next time I will post in ask the tutor forum 😀

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The land’s value was $266m and the contingent liability not recognised in Margy’s books was $6m. Those didn’t affect R/E, Only fair value if net assets of acquiree.
But I hope everything else is fine. I made terrible mistakes also

[3mr]

The fair value adjustments aren’t reflected in the subsidiary’s books. Thus, only the effect of the impairment will affect the GW:
Dr. Goodwill $40m
Cr. FV of building $40m

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First, Mercury, the $40m impairment of building in the fair value shall not be recognised in OCI or R/E. It is deducted from the fair value of net assets of the acquiree, thus increasing the goodwill.

I feel that I will fail; I didn’t include profit on disposal of associate and revalued the asset held for sale

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Regarding Question 1. (a)
It is right to value the property held for sale at lower of carrying value and fair value less cost to sell.
But is it correct to value the asset at the fair value less cost to sell because the entity uses the revaluation model? I got that idea since it is said in the question that the property had a (revalued amount) of $14 m.

Regarding goodwill of Margy, I don’t remember the figure, but the fair value of net assets of Margy should be decreased by revaluation decrease by the valuer in April, 2014 by $40m.

[3mr]

Regarding Question 1. (a)
It is right to value the property held for sale at lower of carrying value and fair value less cost to sell.
But is it correct to value the asset at the fair value less cost to sell because the entity uses the revaluation model? I got that idea since it is said in the question that the property had a (revalued amount) of $14 m.

[3mr]

Yes, Thank you.

[3mr]

Passed with 79%

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I used and extra paper to solve the exam.. is long answers acceptable? I mean does the examiner care if I’m shortcutting the answer to the point or just writing as much as I can?

I solved all the exam.

[3mr]

Yes I understood. Thank you!

[Author]

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