ACCA Exam Tips Paper F7 Dec 2013 examinations
1. Consolidated Statement of Financial Position AND Statement of Income, mid-year acquisition, share for share exchange, nci value based on share price, fair value upward adjustments, intra-group sales and pups, goodwill impairment
2. Statements of Financial Position, Income AND Changes in Equity, list of balances, problems with revenue recognition (consignment goods), inventory adjustment, TNCA revaluation, depreciation straight line and reducing balance, loan interest accrual, tax provision and deferred tax movement
3. 20 mark cash flow (last time there was a question WITHOUT interpretation was December 2011) with a part b 5 mark chat
4. 15 mark question covering 2 or 3 IAS with short, relatively straight- forward calculations. Possibles? Could be anything, but here are 3 wild guesses:- subsequent events, leasing and borrowing costs
5. 10 mark question – could be something like development expenditure, complex depreciation question or (relatively easy) earnings per share
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