2022年12月考试Paper1.1考官谈备考

2022年12月考试Paper1.1考官谈备考

Asusual,thepaperconsistedof25compulsory

multiplechoicequestionsinSectionAand5compulsory

questionsinSectionBworthbetween8and12marks.

Performancewasbroadlyinlinewithprevioussittings.

Therewasnoevidencethatcandidatesdidnothave

timetocompletethepaper.

SeveralquestionsinSectionAwerepoorlyanswered,

revealingweaknessesamongcandidatesongoodwill,

provisionsandcontingencies,andconsolidations.Section

Aquestionswhichonlyasmallnumberofcandidates

answeredcorrectlyarereviewedbelowComputational

questions1and3inSectionBwerereasonablywell

answered.Oneencouragingfeaturewasthatfarfewer

candidateslostmarksbyfailingtoprovideworkings.

SectionA

QuestionsinSectionAintentionallyvariedintheirlevel

ofdifficultyandrangedasusualoverthewholesyllabus,

withlessemphasisontopicsexaminedinSectionB.

Questionsprovingtobedifficultforcandidatesincluded:.

Q7Thisquestionconcernedaccountingforachangein

accountingpolicy.Manycandidatesgotthiswrongbecause

theythoughtsuchchangesshouldbedisclosedasextraordinaryitems..

Q12Thetopicsherewereprovisions,contingenciesandevents

afterthebalancesheetdate.Thecorrectanswerwasthatonly

oneofthefourstatementsofferedwastrue,butthemajority

answerwasthatallfourwerecorrect,revealingworldwide

misunderstandingofthesetopics..

Q20Althoughcomputationalquestionsonconsolidationsin

SectionBareusuallywellanswered,thisquestionon

non-computationalaspectswaspoorlyanswered,with

manycandidatesbelieving,forexample,thatgoodwill

arisingonconsolidationwouldappearasaniteminthe

parentcompany’sindividualbalancesheet.

Q22InquestionsonaccountingratiosinSectionB,

candidatesareusuallygoodatcalculatingtheratios,

butpooratexplainingtheirmeaning.Thisquestionon

thereceivables/debtorscollectionperiodcaughtmanycandidatesout.

SectionB

Q1Thiswasanincompleterecordsquestioncallingfor

thepreparationofanincomestatement/profitandloss

account.Itinvolvedcalculatingtheamountofinventory/stock

takenbytheproprietor,andfewcandidateswereabletodo

thiscorrectly.However,mostobtainedareasonablemarkby

dealingwellwithotheraspectsofthequestion.Itwas

surprisingthatsofewcandidatescouldcorrectlycalculate

theamounttobeincludedforexpenses,forwhichopening

andclosingaccrualsandprepaymentsweregiven.

Q2Thisquestioncalledforastatementofchangesin

equity/statementofmovementsinreserves.Theinformation

providedincludedsomeeasyitemsandsomemoredifficultones.

Thefivematterstobedealtwithwere:

1.Anerrorintheinventory/stockatthebeginningofthe

periodcovered.Somecandidatesadjustedforthiscorrectly,

butmanyaddedtheamounttotheopeningbalanceinsteadofdeductingit.

2.Anissueofsharesatapremium.Thiswasoneofthe

easiermatters.Somecandidatesfailedtosplittheproceeds

oftheissuebetweensharecapitalandsharepremium.

3.Asaleofsomelandthathadbeenrevalued.Thiswas

themostdifficultadjustmentandveryfewcorrectlyhandledbothaspects.

4.Theoverstatementoftheopeninginventory/stock

meantthatprofitfortheyearwasunderstatedandhadtobe

increasedby6m.Manycandidatesincorrectly

reducedtheprofitby6m.instead.

5.Thecalculationofthedividendpayablefortheyear.

Thiswasthoughttobeoneoftheeasiestpointsinthe

questions,butsurprisinglyfewgotitright.

Q3Theexaminationoftenincludesthepreparationofa

basicconsolidatedbalancesheet,andmanycandidates

gotthisquestioncompletelycorrect.Errorsmadeincluded

leavingtheparent’sinvestmentinthesubsidiaryinthe

consolidatedbalancesheetandfailingtowriteoffthe

goodwillasinstructedinthequestion

Q4Questionsonresearchanddevelopmentareoften

poorlyanswered,andthisonewasnoexception.

Candidatesfailedtodistinguishcorrectlybetween

theitemstobewrittenoffandthosetobecapitalised.

Answerstopart(b)oftengaveanarrativedescription

ofeachproject,orfiguresforeachproject,ratherthan

thesummaryrequiredby