DFS Today
Comments
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Possible explanation: did you consolidate the share capital and share premium accounts?
I added them together, yeah.
Share capital 55,000 (I think? 45 + 10?)
Share premium I had 17,000 (12 + 5)
Retained reserves I had:
figure per b/s of the holding company
+ 60% of pre-acquisition profits of the subsidiary (difference between figure on b/s for subsidiary and the amount given in the question at 1/4/07)
- impairment amount on goodwill
And my minority interest figure was 40% of the retained earnings figure on the b/s given for the subsidiary.0 -
Hi Cortez
I think you should only put the Parents share capital and Share premium on the balance sheet, that could be where you went wrong??0 -
cortez,
it seems you forgot to add the 40% share of the revaluation reserve ?!?0 -
The development question was just after the one about intangble assets??
I only rememebered that as i looked at it this morning, i wouldnt normally remember somethign like that!!0 -
confused!! wrote: »Hi Cortez
I think you should only put the Parents share capital and Share premium on the balance sheet, that could be where you went wrong??
Maybe. The subsidiary amounts for premium and capital were 15,000 together. So maybe it should have been 60% of that (9,000) and I was 1,000 out somewhere else ...0 -
sebastianforbes wrote: »cortez,
it seems you forgot to add the 40% share of the revaluation reserve ?!?
aha! That would be where my other 1,000 was out then. Revaluation reserve was 2,500 and 40% would be 1,000!
Hopefully I'll be ok with that if I got everything else in that question right.0 -
Did anyone get about £11,552 for their PPE additions in cashflows??0
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I added them together, yeah.
Share capital 55,000 (I think? 45 + 10?)
Share premium I had 17,000 (12 + 5)
Retained reserves I had:
figure per b/s of the holding company
+ 60% of pre-acquisition profits of the subsidiary (difference between figure on b/s for subsidiary and the amount given in the question at 1/4/07)
- impairment amount on goodwill
And my minority interest figure was 40% of the retained earnings figure on the b/s given for the subsidiary.
You shouldn't have consolidated the share capital and share premium. It should be only the parent's a/c's.
Consolidated reserves is fine
Minority Interests should be 40% of fair value of subsidiary's net assets at reporting date(Share Capital + Share Premium + Ret. Earnings + Reval. Surplus on PPE).0 -
confused!! wrote: »Did anyone get about £11,552 for their PPE additions in cashflows??
Pretty sure I had that and mine balanced :001_smile:0 -
On which section Confused, A,B or C I think I remember answering a intangible but I had a question in my FRA resit so honestly can't remeber oh poo!!!0
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Yes I got exactly that hehehe One down 50 million to go!!0
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You shouldn't have consolidated the share capital and share premium. It should be only the parent's a/c's.
Consolidated reserves is fine
Minority Interests should be 40% of fair value of subsidiary's net assets at reporting date(Share Capital + Share Premium + Ret. Earnings + Reval. Surplus on PPE).
Ah that makes sense. My minority interest figure was well wrong then!0 -
confused!! wrote: »Did anyone get about £11,552 for their PPE additions in cashflows??
I got exactly the same figure
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hmm was it section 1, 1.3 b?? im not too sure, just remember it was straight after the "what is an intangible asset" part..... when it said what criteria has to be met to justify development being an intangible??0
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I did this too as it asked for elements. Iwasn't sure at first if it wanted this or documents, but then when part 3 wanted you to describe the 'elements' of the accounting equation - i guessed that's what they wanted!!0
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Oh god i'm unsure if i answered it now cos it had the same question in FRA??0
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I cant believe it like 9 weeks until results, its like torture....although I know il forget about it all in a day or 2!!
I cant quite rememeber if i got my cash flow right, but know i got the increases and decreases ok and the additions....just notquite sure if it balanced, apart from that i think the only other things that i got wrong is my consolidated being about £40 out - although not too concerened about that
And the fact i seemed to have messed up section 2 by saying i would invest
Im just going to try and put it out of my mind now as I have still have PCR tomorrow and should be concentrating on that rather than worrying about something that I can not change!! :thumbdown:0 -
Good stuff :thumbup1:
Seems I've done alright on this paper, at least the calculation bits. Also seems like my figure of 94,058 is what most people got for the consolidated b/s but no idea why I had 102,058 for the bottom half!
Hi Cortez
i got into the same problem as you - what i did wrong was put retained profit in "at date of acquisition" column instead of "since date of acquisition" column so got answer of about 102,000 as total equity - i was out about 9210 from balance of 940580 -
I felt today's exam went ok....had a problem balancing the consolidated balance sheet but then figured i'd done somthing stupid (blonde moment)!! :laugh:
The only thing i didn't like was the question on IAS 38...but i didn't revise that and as soon as i got home, i saw i had got the general jist so hopefully that'll be ok!!
Not looking forward to PTC on Friday though :001_unsure:
Em0 -
I thought the IAS question was ok as its something you can generally talk about. I cant believe you people are sitting PCR,PEV & DFS this week, I did PTC & PCR in December thankfully, dont think I could cope with any more exams!0
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confused!! wrote: »Did anyone get about £11,552 for their PPE additions in cashflows??
That sounds very familiar!
Ally:001_smile:0 -
confused!! wrote: »I thought it was a decrease in receivables and payables??
For the development intangibles part i said -
Probale use or sale
Intention to use or sell
Resources adequate for use or sell
Ability to use or sell
Technial feasibility for use or sell
Expenses measured reliably
Or something like that - I remembered the PIRATE thing!!!
I did 5 of them and i couldn't remember for the life of me what the other one was
Wish i was told about the pirate thing but i dont think i should worry too much about that small snag... 0 -
Ratios
Hi people,
What sort of figures did people get for their ratios?
I couldn't remember some of the ratios so decided to guess....wondering if I guessed correctly :001_tongue:?0 -
Hi I vaguely rememeber something like 45% and 42% for the Gross Profit?0
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i'm really searching my memory but i think these are the general ratios ?!?
2008 2007
gpm 45 46
npm 5 7.5
roe 5 (?) 10
ic 2.5 7.5
feel free to adjust :001_tt2:0 -
that looks about right to mesebastianforbes wrote: »i'm really searching my memory but i think these are the general ratios ?!?
2008 2007
gpm 45 46
npm 5 7.5
roe 5 (?) 10
ic 2.5 7.5
feel free to adjust :001_tt2: 0 -
On the consolidated balance sheet did anyone take out the consideration amount?? I replaced it with intangible goodwill less the impairment loss??0
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Oh good, just can't seem how I got 80838 or something??? never mind!!!0
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