ACCT3103 Advanced Financial Accounting
Semester 2, 2020
Take Home Final Exam Answer Sheet
Student First name:
Student Last name:
Student number:
Important instructions to student
About the exam
Your take-home final exam (hereafter, final exam) will be available at 4 pm AEST on Thursday 19 November 2020 and will due at 4 pm AEST on Saturday 21 November 2020.
Even though you have the entire 48 hours to complete and submit this final exam, the expectation is that it will take most students between 2-3 hours.
The questions of this final exam can be accessed through Blackboard: Assessment /Assessment 3–Final exam /Take-home final exam.pdf. This link will become available at 4 pm AEST on Thursday 19 November 2020.
Please begin your exam as soon as possible within the available window. However, if you become unwell or experience exceptional circumstances while completing this exam then submit an extension request before the due
Using this answer sheet
Your final exam contains five practical questions. The topics tested and the marks available for each question are outlined in the following table:
Question Topic Marks
Question 1 Consolidation – Fair value adjustment 10 marks
Question 2 Consolidation – Intra-group transaction 10 marks
Question 3 Consolidation – DNCI 10 marks
Question 4 Consolidation – INCI 10 marks
Question 5 External administration & liquidation 10 marks
Total 50 marks
This answer sheet contains five sections. In answering the five exam questions, you should type your final answer in each of the following corresponding sections.
This answer sheet only provides a general template. To avoid releasing too much sensitive information, all sections of this answer sheet have intentionally provided insufficient space for you to type in all of the answers. Therefore, you should add as many lines or columns as you feel necessary when working with this answer sheet.
A designated space at the end of each section is provided for you to show your workings. We encourage you to show all of your workings as this will allow us to apply consequential marking to give you part marks if your final answer is wrong due to a prior mistake.
Submitting your work
The final exam submission link will open at the start of the exam (same time with the opening of the final exam question). You should submit your work via this link before 4 pm AEST on Saturday 21 November 2020 to avoid late submission penalties.
Late submission penalties will be applied as per Section 5.3 of the course ECP.
You should change your document title to firstname_lastname_studentnumber_finalexam (e.g., “John_Smith_4432158_finalexam”) before submission. Both pdf and word document are acceptable.
You have a maximum number of TWO submission attempts in case you need to re-submit your work a second time by the due date. The system will only keep the last submitted paper. So please make sure that your last submission is the correct version.
After submission, you should receive a notification email from your student email account confirming the successful submission of your work. Keep the email secure as your proof of submission.
Should you have any issues about the assessment task, you should email the course coordinator
Section 1: Answer sheet for Question 1 (10 marks)
Part (a)
Include all narrations.
Show all workings. Where workings are not shown, part marks will not be awarded.
Section 3: Answer sheet for Question 3 (10 marks)
Part (a)
Acquisition Analysis
Include all narrations.
Show all workings. Where workings are not shown, part marks will not be awarded.
Section 4: Answer sheet for Question 4 (10 marks)
Part (a)
Total non-controlling interest
Working
Working for Problem 4
Ref. Explanation
Show all workings. Where workings are not shown, part marks will not be awarded.
Section 5: Answer sheet for Problem 5 (10 marks)
Part (a)
Ranking Detail $
Liquidation Account
Detail Debit Credit Balance
Receipts and Payment Account
Detail Debit Credit Balance
Members Distribution Account
Detail Debit Credit Balance
Part (b)
Member’s distribution schedule
Share class Issued values Paid-up Capital Allocation Deficiency Refun
Working
Working for Problem 5
Ref. Explanation
Correct payment order in the liquidation account will be awarded marks.
Round all numbers to whole numbers.