December 3, 2012 at 10:22 am
Post your comments about December 2012 P7 exam.
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Please note: The ACCA has requested that no postings must be made in this forum before 15:00 GMT on the day of the exam – any postings before this time will be deleted.
Remember that you are studying for a professional qualification – do not make postings that are abusive or threatening. Anyone breaking this rule may be reported to the ACCA disciplinary committee.December 3, 2012 at 11:40 am
Thanks admin on the reminder to maintain ‘professional behaviour’.December 3, 2012 at 12:56 pm
thank you very much for your all the notes on p7. very useful. many thanks to all who emailed the notes to me. god bless.December 3, 2012 at 1:56 pm
How much is the chance of passing if one attempts 93% of the total paper (p7)?December 3, 2012 at 1:57 pm
q2 is tough, others ok!December 3, 2012 at 2:08 pm
couldnt get what was required in q2 ??? time pressureeee i just wrote either it is material or not and their increase and decrease hope i get some markss :pDecember 3, 2012 at 2:16 pm
this sitting the questions were pretty easy and straight forward. if you can manage the time well, a pass wouldnt be a problem.December 3, 2012 at 2:33 pm
I must say that Lisa was fair this time around! This was a fair paper regardless of whether I pass or fail!December 3, 2012 at 2:41 pm
The overall exam paper was fair. Question 2 was a little bit complicated, the other questions were OK. Good luck to everybody.December 3, 2012 at 2:49 pm
Q2 is hard….December 3, 2012 at 2:52 pm
well question no 1 was fine and no 2 is too but could not get enough time to write others just a try.Hoping for the majic 50.December 3, 2012 at 2:53 pm
When I saw question 1 I thought great what a peach of a question, luckily it has majority of marks, I read option questions in the 15 minute reading time, decided to do 3 and 4, although left a 6 mark question on Q4 as I wanted to start question 2.
Then reading the question 2, i thought ahh I knew there was gonna be a tricky question and this was it. I did part a and c about the joint auditors but really quickly mentioned and waffled a bit on the treatments and evidence.
I managed my time really well but how do they expect us to produce that kind of answers to that much information?
Overall I passed all my exams first time except F9 but was really scared of P7 as I heard many horror stories but it was better than what I expected, especially question 1.
Just got P6 left on friday, need to settle and put all my focus on that now. Good luck to everyone.December 3, 2012 at 3:10 pm
I have to say that the questions was fair apart from Q2, a little bit tricky….but others are ok…hoping to pass but now its the discretionary of the marker……good luck to everyone….December 3, 2012 at 3:12 pm
me too, exam was easy but time management is a big problem for me, but still i have a hope.December 3, 2012 at 3:18 pm
Time difficult for me too. Had to move on without completion of all four questionsDecember 3, 2012 at 3:24 pm
Question 1 was ok but Question 2 was challenging….. the other optional questions were more or less ok as well…. If i fail that paper i know because of question 2 again on Group which require a good knowledge of various Accounting Standards… time management is indeed a big factor in that paper along with a good planning but still very hard to get all the four questions done completely…December 3, 2012 at 3:40 pm
Q2 was the tricky one…the rest were pretty much okay….though i never was sure whether i had written was just enough for the marks allocated..did q1,2,3 & 4. Hopefully…we all will pass…Off to P5 now on Thursday! Good luck to all….December 3, 2012 at 3:49 pm
can anyone remember the break down of question 1?December 3, 2012 at 3:57 pm
Hey guys thought it was lonmg and just couldnt finish it. Quick question did we have to do any ration analysis in Question 2, or just talk abt the materiality, measirement and disclosure of the issues? Also how do you evalute audit evidence without referring to other procedure? GL!December 3, 2012 at 4:03 pm
Q2 – I think the trick was to determine if the audit report would need modifying from the info provided in the question.
i.e. if there was still a material risk of mis-statement after the audit findings referred to by the audit senior in the note
The audit evidence referred to should have either been enough to reduce audit risk to acceptable level, or not – then there there is a risk of material mis-statement if its a materials amount,
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