[surajnair]

No idea,the dates aren’t given. I just read those articles that are written by the examining team, hope that would suffice.

[surajnair]

contextual change was tested last time, i really feel bcg,7I’s and 7P’S could really be important this time.

[surajnair]

@pandaki said:
I forget which question is talk about “Performance assessment report”,

What is this ?

I think you’re referring to the 4th question. Assessing the performance of meta fashion board

[surajnair]

@sunnydeol89 said:
Pretty sure it was 3.38 rounded to 3.4

1800 investment was made in year 0. In year 1 and 2 discounted cash flows were 663 something and 1050 something.. that’s how i got 2.2. Wait was it cash profit or operating profit?

[surajnair]

@ecbs5 said:
Yes, the discount payback is 3.4 years, but i think the answer is B or C.

Discount payback is 2.2 .

[surajnair]

@mrampersad said:
What in the hell was “optimal investment schedule”????

Project divisibility and stuff

[surajnair]

@louiseabigail said:
Multiple choice question with 40% taking the 2% discount paying in 15 days. I went with d something like 168k

Also the mcq with the buffer stock. I had 412k

2% discount? Yea option D . Not sure about buffer stock. How about equity beta and fra? I got 1.16 for equity beta and 37500 for fra

[surajnair]

@louiseabigail said:
11.6% for wacc and 61,385,000 for the npv. I took the remaining balance as a tax shield in year 4

11.6 approx wacc and npv was lil higher than that i guess. Tax and dep allowance must be taken to year 5

[surajnair]

Yup bro. Thats how you do for inflation !

[surajnair]

@hayor said:
yes to present condition but doesn’t me the asset IS ready for intended use or sale…..According to the standard….purchase cost, duties and all other cost incurred in bringing the asset to “condition for intended use or intended sale” key word

present condition n location could be sea port and additional cost may still need to b incurred in transporting them to the warehouse….hope this helps

Hayor, wish i could share the picture here. I just referred back to bpp text.page number 235(june2017 edition). It clearly says cost of inventories consists of all costs of:
Purchase
Cost of conversion
Other cost incurred in bringing the inventories to their present ‘location and condition’.

[surajnair]

@feroz1234 said:
Which option did you guys pick for inventory valuation or something.

Was it A which ended along the lines of bringing it to its present location and condition.

or option C bring inventory to its saleable condition?

A. Bringing inventory to present location. Not saleable.

[surajnair]

@feroz1234 said:
Did anyone choose any Answer A’s for the MCQ’S on revenue recognition question 25-30?

I marked all A’s except the last question (30th)which i chose B.i got 4 A’s. :/

[surajnair]

@denny1 said:
One was to credit the bargain purchase goodwill and other I think it was definition of assets or something like that.

I cant recollect Goodwill question. Asset one if you’re referring to the section A mcq question,the right option is C(which says future benefits should be measured reliably) – not in the asset definition.

[surajnair]

@denny1 said:
For two fill in the blanks to complete the definitions, anyone remember those. Just to get some confidence so that at least some answers are correct.

Huh? Which part?

[surajnair]

@aaradhya33 said:
yes natalia.You had to capitalize the borrowing cost from feb to October.

but also since it had been invested elsewhere for 2 months (2m*4.5%*2/12)
this should be deducted.

i think the answer was 10435000

Yes 10435000. Atleast we have one common answer :p

[surajnair]

@hayor said:
Got a profit of $850k on disposal……subsidiary is 100% owned

I got the same. Thats great

[surajnair]

It would have been great if there was one EXTRA consolidation question though :p haa

[surajnair]

@aaradhya33 said:
Thankyou Suraj,its just small things of f6 that drives me crazy.
Goodluck with your f9.
Cheers.

Thanks :). Do well.

[surajnair]

@aaradhya33 said:
yes suraj, I have f6 tommorow.
what about you?

Oh ya? Ace it. I have f9 day after tmrw. 😀

[surajnair]

@aaradhya33 said:
damn there goes my 2 marks lol

Hehe. Are you attempting any other subject this time?

[surajnair]

@aaradhya33 said:
yes 31 was just hell.
About that PURP,i got answer B)3600

I dont think you have to proportionate it aaradhya. It was a sale from subsidiary to parent.you have to deduct the entire unrealised profit from retained earnings. Which would be 6k. Im prettyy sure about it

[surajnair]

@23123fd said:
It was closing inventory, I remember it well

There goes my two marks.

[surajnair]

@aaradhya33 said:
oh my god,the more we discuss the more we lose confidence?

Haha very truee.

[surajnair]

@aaradhya33 said:
But debtor went bankrupt in December 2008 and I think the gp was of December 2007.
I think that understatement of closing inventory would be correct since it will result in a higher COS and thus lower gp

Wasn’t it understatement of OPENING inventory? If not you’re right.

[surajnair]

Mcqs as far as i can remember
1-A ratio not used by non profit entities -R0CE
2-goodwill in the consolidated statement: 80000(3.8-3)
3-unrealised profit to be adjusted – 6000 (150000/5 unsold inventory,25% mark up)
4- item not included in the definition of an asset -benefits measured reliably.
5-yearly impairment review- goodwill and patent.
6-which of the following are subsidiaries- i marked option B and C,i opted out option A as at the point of time the parent company held only 40% of the other company, i highly doubt if it’s right.
7-reason for increase in gp margin : option D (debtor going bankrupt)
Section B and C were really tricky for me. Only luck can get me through now.

[Author]

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