来源:ACCA/CAT 发布时间:2012-02-04 ACCA/CAT视频 评论
Problem 2:Density
The above answer is incredibly dense. It leaps about within one densely packed paragraph and would be very hard to mark as a consequence. The question is valued at eight marks. So all that is required is that you make eight good points. They do not need to be the same eight points as the examiner. But there should be eight points. However,because of the paragraph density it is very hard for a marker to identify the points that this student is making. I highly recommend that you simply make one point in each paragraph and for each paragraph I suggest you use a heading. You will see that this is the style that has been utilised by the good student below and you will note that this use of headings above each short paragraph makes the answer easier to read.
Problem 3:Technicality
The answer also seems to be trying to substitute technicality for analysis. The reference to the IAS number is technical but wrong. The reference to the impairment is also technical but irrelevant. It appears this student is desperately trying to avoid thinking and therefore substituting random technical information in its place. I find myself wanting to tell the student to breathe and look at the scenario again. I find myself wanting to ask the student to think.
You cannot avoid analysis. You do not need an enormous amount of knowledge to pass P2;of course it helps, but is not necessary. What is necessary is analysis. You cannot avoid analysis. When you do look again at the scenario and think a little,just allowing yourself to breathe,you will be amazed how the picture forms. It is not really all that hard. The scenario tells us we used to have 70% of an entity and now we have 35% of the same entity and that the directors are not sure if the remaining 35% is held for sale. That is it really. The 70% should make you think of control and subsidiaries and the 35% should make you think of influence and associates. Then you can knock out the held for sale criteria and take it from there. Amazing what a little thought can do. The following good student took that line and I think you will find the answer far more persuasive without being tremendously technical.
Good student answer
Control
IFRS make it very clear that a sub is defined by control. Sub acquisition occurs when we get control and sub disposal occurs when we lose control (IAS 27)。
Disposal
So when Cate tells Date to issue shares to a new investor and the Cate ownership and voting falls from 70% to 35% then Cate loses control and the result is a sub disposal.
Discontinued
The scenario tells us that Date is in a separate line of business. Obviously we stopped doing that separate line of business towards the end of the year. So the operation is discontinued (IFRS 5)。
Income statement
Cate time apportions Date results and then puts the PAT into Discontinued at the bottom of the income statement and only discloses the details in the notes.
Profit on disposal
IFRS also make it clear that when we lose control we are deemed to have sold the whole sub and bought back another investment (IFRS 3)。
The result is the following:
Actual sale proceeds x Deemed sale proceeds x
NCI x
NA (x)
GW (x)
___
Profit x
___
Remaining investment
The scenario tells us that Cate have lost their place on the board. So it is possible Cate retain no influence after the disposal even with the remaining 35%. If this is true then the remaining asset is a simple investment at fair value with gains to income statement.
Associate
On the other hand it seems to me that Cate still retains the power to influence Date,just chooses not to get involved. If this is true then Date is an associate after the share issue.
Held for sale
The associate will be considered held for sale if it fulfils these criteria:
S Sell = there must be an intent to sell
A Available = the associate must be available for immediate
sale
L Locate = directors must be marketing to locate a buyer
E Expected = the sale must be expected within 12 months
Considering
But Cate is only considering the sale of the remaining investment. There is no definitive intent to sell at the year end. So I suggest the associate stays in non-current assets.
Good student answer commentary
You have to admit that this answer is not complex,but it is crystal clear and straight to the point. So,to conclude… allow yourself to breathe;
allow yourself to think in the exam.
ACCA2010年12月考试时间:12月6日-15日
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