Hiya,

As we all know that when a parent company owns subsidiaries then we are required by IFRS 3 to consolidate the accounts so that the users can assess financial performance and position of the group as a whole.

I was wondering do those companies also consolidate in real life who own soooo many subsidiries. Isnt it sooo time consuming and difficult for such parents companies.

helooooooooo yeh i think thatit is possible as you only need the financial satatements to form the consolidated statements NOT the Source Documents so it seems easier to do it n when there are standards on these topics it should be made by the parents
i want to ask u taht how do you mange yr F7 course n how much course ahave u covered?

Sab, all my lectures for F7 have been finished and now revision classes are remaining. We have done all chapters in college but for me one chapter is still there to be done that is INTERPRETATION and I am doing exam kit these days and am quite fine.

I like this paper and yes one thing about this paper I hate is CONSTRUCTION CONTRACTS. I have done this chapter but its equal to no study. I find idea of construction contract easy but when it comes to practice , I get everything wrong and when I see at back I find it so easy and ask myself is that all what I was not able to get right and I get disappointed.

What about you, how far are you in F7 and what about exam kit?

hi
A parent co. is required to draft consolidated F.S as ur rit in ur opinion its too time consuming take for example HATHWAY BERKSHIRE Ltd. it has more than 30 subsidaries and they make their consolidated F.S which is required by law and in the interest of stakeholders they are required to show the susidaries as one.
Let me summ up HATHWAY BERKSHIRE is a real life example.

helo mahjabeen
wow you are doing exlent study. si this your 1 attempt of f7?
my course still not finisfeed at College n are left with Main Standards. Dont knw wht to do? Nw am thinking to drop ths subjct. Kindly advice me what to do? I like Finance costing n m good at it bt m n really bad situation these days as are course is not finished n m toooooooooo tensed regarding it N m also having 2 other papers. the other 2 r going well bt m tensed regarding F 7? please advise me what to do? :?: :?: :?: :?: :?:

Hi Sab

Yes this is my first attempt and by the grace of Allah I never needed to resit for any exam.

Actually I am going good in F7 because I have done many topics in CAT paper 6 so its helping me now.

Can you tell me how many chapters and exam kit question have you done so far?
Which 2 other papers are you doing simultaneously? I need more information to advice you because it depends on individual`s capacity. Take my example I did 5 advance level exams and they were quite hard but still managed to gain good marks and I have seen people doing only 1 or 2 papers too.

Let me know about you.

well i have done Ias 16, 23, 2, 36,18,1,17,7,8,33,37.
Nw u c m lft with thos major Standards.
M giving F4 n F6. :? :? :( :(
But m realy willing to gt ovr these papers. I hav enterd through Direct ACCA stream.

N did Consolidated Balance sheet n incum statemnt

Hmmm, it seems you have done quite alot standards but practicing exam kit questions is more important.

If you ask me then I will say dont leave this paper out. Go ahead with all 3 if you have done quite alot stuff in F4 and 6.
You have done consoliation which is 30% of the syllabus so just work hard and carry on with all 3.

But if you think that you might fail it then better dont sit in this paper and try next time.

But dont get worried, start studying because still we have almost 50 days.
Stay positive, dont get tensed.

I will say try your best and leave rest to God.

hey thanks Alt for all your Support n Advice Mahjabeen. M encouraged n will try my best. Thanks alt. :D :)

Thats what I tried to do , just wanted to motivate u and now u r , so clapping for you :(

wrong emotion hehe :D