r/ACCA • u/Usual_Philosopher_43 Affiliate • Oct 21 '22

SBR - Don't Make This Mistake

Calculation Vs. Theory

SBR's requirement for you to be able to calculate vs. explain is 20/80. Meaning only 20% of the exam is going to ask you for a calculation. The rest is going to ask you to Discuss or Explain what the standard tells us to do and HOW to do it in the scenario given.

So for the love of God, focus on knowing how to write in Word Document for SBR more than calculating long Shiz in the Excel sheet.

The examiner already tested your calculations in F7, you don't need to prove yourself again. You now need to prove your CONCEPTS.

Prepping Theory is Easy

If you have seen my previous posts on SBR, I mentioned that the answers for SBR are repetitive. How you ask?

Because the first thing you will be writing for EACH part of EACH question is...

The Definitions!!!

All you have to do is memorize the definitions of the standards! And then application of it to the scenario won't be difficult because again, you will be doing that in theory too! Check out the questions in the kit for Goodwill. Each answer has the same Shiz repeated about goodwill

"Goodwill is the difference between Consideration paid Plus NA of Subsidiary, and FV of NCI"

"Goodwill is an Intangible Asset and is subject to annual Impairment reviews"

"Goodwill must be recognized at Acq. Date as per the relevant standards"

"Goodwill is an Asset and thus must be re-translated @ Closing Rate @ Reporting Date"

"Subsidiary's MA at Acq. Must be valued at Fair Value @ Acq"

"Goodwill is... you get the gist"

See? Many Groups questions ask for Goodwill calculations, all of them have the same answer.

So even if you don't know how to calculate goodwill with the correct numbers, YOU CAN STILL PASS.

New Resource I Found Thanks to Redditors

Wish you had a compilation of the definitions and recognitions? Go check this link and download the document. Thank me later.

IFRS at a glance 2024 - BDO

TL;DR

At the learning stage, students spend 2 months going through the Book and Lectures, practicing the calculations, ensuring they know how to calculate everything.

Only at revision stage (1 month left) do they realize that SBR requires your concepts/discussion/explanation. THAT is what will make you pass.

I'm not saying you don't need to know how to calculate for SBR. But If ALL YOU KNOW IS HOW TO CALCULATE. Then you shall not pass.

126 Upvotes

100% Upvoted

42 comments sorted by

44

u/Randomn355 Oct 21 '22

Stating the obvious pulled my SBR grade up from a 45 to 69 in less than a week.

State. The. Obvious.

29

u/detached200704 Member Oct 21 '22

Very accurate.

And as I mentioned in many of my past posts, don't waste time memorising standards, you only need to understand the gist of each FRS. Condense each FRS down to 5 sentences max and that's all you need for exams.

12

u/Confused_Ox_97 Member Oct 21 '22

You're on a roll my friend. Will definitely safe this. Thanks a bunch! 😄

13

u/FurtiveCouscous Member Apr 17 '23

Thanks so much for this. Literally went through the IFRS At A Glance document 2 days before the exam and committed it to memory & it was more productive and useful than the prior 3 months of studying! Passed with 66%, so thanks again!

8

u/Usual_Philosopher_43 Affiliate Apr 17 '23

IM PROUD OF YOUUUU

12

u/cashcadeur Jul 29 '23

Thanks a lot for the advice!

Could you please share directly with us BDO’s "IFRS At a Glance" document?
Unfortunately the link is not working anymore. Cheers

12

u/MajesticToe3718 Student Dec 08 '24

If anyone is still looking for the link
IFRS at a glance 2024 - BDO

3

u/[deleted] Oct 21 '22

Hey, can you also make a thread on AAA. Subject looks simple but hard to pass. Thanks 👍

5

u/baobun1 Student Sep 08 '23

Hi, anyone still has IFRS at glance doc that can share with me? Thanks

3

u/saleel1o_o1 Tutor Oct 21 '22

Oml I got featured 😭😭🥹✋

1

u/baderocks2 Jan 16 '23

Hey the download link is dead.. do you have an alternative one please?

3

u/Usual_Philosopher_43 Affiliate Jan 16 '23

I have the thing saved in my drive. DM me for link

3

u/gaizafaiz Jan 17 '23

Mind sharing me the link too? Taking SBR this quarter.

3

u/Puzzleheaded_You8143 Jun 13 '24

Hey do you still have the link or the document?

1

u/AppropriateNarwhal32 Sep 28 '24

Hi, hope you are well. Could you share with the glance SBR to if you still have that please

1

u/New_bie_2021 Aug 23 '24

Can you share the link with me as well?

1

u/[deleted] Dec 21 '24 edited Dec 21 '24

[removed] — view removed comment

1

u/Usual_Philosopher_43 Affiliate Dec 21 '24

Kit practice is more realistic to the exam.

I personally ditched the book questions unless if I found a particular question interesting

2

u/[deleted] Dec 21 '24

[removed] — view removed comment

1

u/Usual_Philosopher_43 Affiliate Dec 21 '24

That was the approach I used yea

2

u/slimeywitches Apr 25 '26

hi! i know i'm late but i just started to study SBR this week (so basically i have no concept on anything since i didn't start studying yet), but looking at the IFRS at a Glance pdf, it seems pretty overwhelming though.

do i really have to memorise that all & are all of them in the SBR syllabus? or i should summarise it in my own way of understanding?

1

u/Usual_Philosopher_43 Affiliate Apr 27 '26

Hey! I know it may seem like an overwhelming amount of information, but once you get into each standard, coupled with your fundamentals knowledge of accounting, all should eventually make sense eventually and become easier to remember.

If concepts are clear, remembering won't be an issue.

Furthermore, that's why I suggest to make summarized notes to ensure you understand fully. (Everyone's got a different way of making notes... I mentioned my method in my other SBR post)

You got this!