读书人财会频道财会考试专业网站 http://www.reader8.com/exam/caikuai/ Relevant to: 1.1Professional scheme As usual, the paper consisted of 25 compulsory multiple choice questions in Section A and 5 c
读书人财会频道 财会考试专业网站 http://www.reader8.com/exam/caikuai/
Relevant to: 1.1Professional scheme
As usual, the paper consisted of 25 compulsory
multiple choice questions in Section A and 5 compulsory
questions in Section B worth between 8 and 12 marks.
Performance was broadly in line with previous sittings.
There was no evidence that candidates did not have
time to complete the paper.
Several questions in Section A were poorly answered,
revealing weaknesses among candidates on goodwill,
provisions and contingencies, and consolidations. Section
A questions which only a small number of candidates
answered correctly are reviewed below Computational
questions 1 and 3 in Section B were reasonably well
answered. One encouraging feature was that far fewer
candidates lost marks by failing to provide workings.
Section A
Questions in Section A intentionally varied in their level
of difficulty and ranged as usual over the whole syllabus,
with less emphasis on topics examined in Section B.
Questions proving to be difficult for candidates included: .
Q7 This question concerned accounting for a change in
accounting policy. Many candidates got this wrong because
they thought such changes should be disclosed as extraordinary items. .
Q12 The topics here were provisions, contingencies and events
after the balance sheet date. The correct answer was that only
one of the four statements offered was true, but the majority
answer was that all four were correct, revealing worldwide
misunderstanding of these topics. .
Q20 Although computational questions on consolidations in
Section B are usually well answered, this question on
non-computational aspects was poorly answered, with
many candidates believing, for example, that goodwill
arising on consolidation would appear as an item in the
parent company’s individual balance sheet.
Q22 In questions on accounting ratios in Section B ,
candidates are usually good at calculating the ratios,
but poor at explaining their meaning. This question on
the receivables/debtors collection period caught many candidates out.
Section B
Q1 This was an incomplete records question calling for
the preparation of an income statement/profit and loss
account. It involved calculating the amount of inventory/stock
taken by the proprietor, and few candidates were able to do
this correctly. However, most obtained a reasonable mark by
dealing well with other aspects of the question. It was
surprising that so few candidates could correctly calculate
the amount to be included for expenses, for which opening
and closing accruals and prepayments were given.
Q2 This question called for a statement of changes in
equity/statement of movements in reserves. The information
provided included some easy items and some more difficult ones.
The five matters to be dealt with were:
1. An error in the inventory/stock at the beginning of the
period covered. Some candidates adjusted for this correctly,
but many added the amount to the opening balance instead of deducting it.
2. An issue of shares at a premium. This was one of the
easier matters. Some candidates failed to split the proceeds
of the issue between share capital and share premium.
3.A sale of some land that had been revalued. This was
the most difficult adjustment and very few correctly handled both aspects.
4.The overstatement of the opening inventory/stock
meant that profit for the year was understated and had to be
increased by £6m. Many candidates incorrectly
reduced the profit by £6m. instead.
5. The calculation of the dividend payable for the year.
This was thought to be one of the easiest points in the
questions, but surprisingly few got it right.
Q3 The examination often includes the preparation of a
basic consolidated balance sheet, and many candidates
got this question completely correct. Errors made included
leaving the parent’s investment in the subsidiary in the
consolidated balance sheet and failing to write off the
goodwill as instructed in the question
Q4 Questions on research and development are often
poorly answered, and this one was no exception.
Candidates failed to distinguish correctly between
the items to be written off and those to be capitalised.
Answers to part (b) often gave a narrative description
of each project, or figures for each project, rather than
the summary required by IAS38/SSAP13.
Q5 Candidates have in the past performed relatively
badly on non-computational questions, but this fairly
basic question on historical cost accounting was
somewhat better answered this time which is emcouraging来源:读书人-ACCA考试
