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Yes F7 was very easy this time. Good luck to all.
It could have been way worse. I struggled a bit with the theory parts (Part a of Q4 and Q5) but the other questions were reasonable I thought. Nothing too tricky in the Q2 notes.
Mind you, i expected a cash-flow in Q3 so was surprised when it didn’t show.
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Very hard exam and not enough time 🙁
For me it seemed to be very easy… never saw an exam easier than that. I managed to prepare all of the questions 😯 … that’s what make me doubt if I oversaw anything…
OMG ….. I was so ready for this exam I had all my marks scored in questions 1, 2, 3, ……… all my practice cashflows I was getting 100% consolodation SOFP 80% ….. and then faced with a mish mash of mixed up questions that just threw me …………. i studied so hard and I answered all the questions (rushing through 4 and 5) ………. but disasterous got all confused on q1 and 2 ….. done all the workings then nothing balanced what a mess I made ………. how come they change the format when I sit it ……….. was looking forward to my q.1.2 and 3 25 marks ….. consolodated SOFP ……….. single entity SOPL&OCI ………….. and cashflow 🙁 ………… expecting a resit here 🙁
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Question 4 & 5 were fair, 3 was rather ok as well but I was expecting cash flow statement as its usually quite straight forward. The hardest I’ve found question 1, it was very tricky and I didn’t manage to finish it. Question 2 had some hard bits as well.
I thought it could of been a lot worse, it was better than I expected, I just hope I’ve done enough.
Q1 – P&L with just a goodwill calc? Studied so hard on groups and felt I wasn’t given the opportunity to really show what I could do.
Q2 – Forgot EPS requirement as was working through points, tricky question and have thrown 3 easy marks away.
Q3 – Ratios and Interps, a very straight forward interps but gimme a cashflow anyday.
Q4 – I found this tricky and stressed, couldnt think straight and probably blew some very easy marks.
Q5 – Quite liked this question, shame it was only worth 10 marks.Yeah I dunno, have gone through it at least a dozen times and reckon its on a knife edge. I got 74% on the question day but todays was so much more tricky.
Oh and who has time to see if Q2 balances lol! Lucky to address most of the points.
I managed to get Mikes sentence into the PPE standards question ………. reduce the penumbral areas of divergent possibilities so hopefully thats 1 mark lol ……….. I just got muddled up done all the workings for every question but didnt feel like I achieved anything as nothing balanced or worked out right I think i just panicked was expecting the normal 2 x 25 mark questions I was ready for them sooooooo ready and the format of the questions just threw me ……………… i couldnt pick out 50 marks looking over it …………. finished all the questions but nothing balanced as it should have ………….. omg just stressed and messed up 🙁 ………… expecting a resit in december worst luck 🙁 …………. very sad old lady (too old for this)
either 4 or 5 was the calculation of the converible loan ……….. i calculated the cash flow at the 0.97 etc etc then the end result was the start of the calculation for the 8% interest and the deduction of the cash paid ……… closing balance at the end of the 3 years equals the original convertible loan (i was out by 20k but probably because I was seriously rushing so messed that up) then the difference between the 8% calculated and cash paid is the addition to the SOFP Liability of the loan ……….. I think but that could have been q3 as my mind is a blank :/
Q2 i was exactly 10,000 out on the balance sheet, 292 and 302, can’t remember which was on top or bottom. went back and looked for it, couldn’t find it, presume i ballsed up and addition somewhere.
Q1 was ok but i made a bags of the associate part.
Q3 was expecting cash-flow but reckon the ratios required were straight forward enough…. didn’t do too well on the interpretation bit cos i have a flu and couldn’t think straight.
Q4 and Q5 i’ll be lucky if i got 7 or 8 marks between them.
overall a pass i think…. think.
Well I was shocked not to see a cash flow question instead there was this ratio analyst question which was really easy but part b was explaining and it was worth 15 mark!! I wonder what we’d have to say to get 15 mark when the ratio result where not really that different without Shaw.
I arrived at tge eam hall half an hour late but it really wasn’t that badGot problem in time management. Again!!! would have preferred the complete requirement for consolidation. and cash flow quest. Am really afraid of the result 🙁
(1) Prepared so hard for consolidated financial position. Disappointed to see P & L.
(2) Didn’t balance but felt did most of the workings correct.
(3) OMG, no cash flow!!! Didn’t have time to write the comment that worth 15 marks.
(4) PPE, did my best but not 100% confident.
(5) In a rush already and finished (i) and (ii), not (iii) government grant.Overall, I feel it’s not that difficult but my time management sucks big time. It was rush towards the last hour. Really hope I pass. Dec 2014 will be new format. Good luck all.
Format threw me a bit at the beginning, was expecting to get stuck into the Cash Flow straight away. Only got to answer questions 2,3,4 and 5. Was expecting to get through them quicker and then focus on 1, but got bogged down. Relatively easy paper content-wise, but, for me anyway, very time pressured. I’m guessing it’s a fail, I was so suprised by the later questions that I am sure I lost out on some easy marks, then rushed through Question 2. Bah. F7 is my nemesis.
“I wonder what we’d have to say to get 15 mark when the ratio result where not really that different without Shaw.”
This. The only thing worth discussing was gearing, but 15 marks? Meh, I had to repeat myself on the others that there was no major differences except if I remember correctly Gross Profit Margin for Shaw was relatively high, but made no major impact on group GPM.
was there any revaluation to do in question 2? as far as i remember the depreciation in that question was pretty straightforward just 12.5% of plant and 10 years straight line for leased property.
yes i also got 292 in assets i think but 308 or something in the latter part
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