AFA REMINDER & IMPORTANT msg

Message from Mr Marlehan

Dear AFA students,
Hi, good day everyone.
Some of you have come to see me to clarify matters regarding past semester
questions and answers. I compiled and would like to highlight you
some of these changes:

September 07 examination question:
Section B
Q1Additional information:
3) "Tax expense ........" change to "Tax liability ....."
7) "Assume an ... of 27%" change to "Assume an ... of 28%"

April 2008 examination question:
Section B
Q1Additional information:
2) "This land was ... 2007 for ..." change to "This land was ... 2008 for ..."
3) "Tax expense ........" change to "Tax liability ....."

September 2008 examination question:
Section B
Q3biii) "Calculate the carrying amount ... 31 December 2007" change to
"Calculate the carrying amount ... 31 December 2008"

April 2009 examination question:
Section A
Q1"On the date of acquisition, ....... Pocus ordinary share....." change to
"On the date of acquisition, ....... Hocus ordinary share....."

September 2008 examination answer:
W8-consolidated retained earnings
The final working should be as follows.
Compare with the one given to you earlier.
The changes are at RM19,000 (previously RM21,000) and
group's share of RM15,200 (previously RM16,800)

Happie’s books 190,000
URP on transfer of PPE (20,000)
Snoopie’s post-acq RE 29,500
URP on inventories (6,000)
Excess depreciation due to trf of PPE 500
Additional depreciation due to FVA (5,000)
19,000
Group’s share 80% 15,200
Impairment Loss (19,600)
165,600

Another reminders are as follows:
a) Do not accrue debenture interest if there is no instruction to do so.
b) For those of you interested to answer Section B
Question 1 in the final exam,
I encourage you to use the balance sheet and
income statement format that I gave you for
1st seating and 2nd seating suggested mid term test answers.
For statement of changes in equity format, use the one you learned in tutorial class.
c) For Section B question 2 and 3 in the final exam,
they are 'more' of essay writing questions.
Of course, still got some computation,
don't get me wrong on that.
Please, read text book a lot.

I wish you all the best in your final examination.

Remember, don't study too little or too much.
Find a right balance.
Make sure you have enough sleep and rest before taking paper so that you have peace of mind.
I know you all can do it.
God bless.