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I can’t help but wonder what the scores are for the mcqs- I want to know if most students are scoring over 50% on the mcps, what is the average score? Is there anywhere I can see this for the Dec 2014 exam for example.
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I’m not sure. they were pretty tricky tbf. I google it and can’t seem to find any the answer to your question.
a change of subject by any chance did anyone get a really high figure for goodwill? Or have I calculated something wrong?
stato82
I got somewhere around 13,000,000. Can’t remember exactly, was too busy panicking about the rest of the exam.
Question2 could anyone prepare the ROCE ratio for 2014. There was no figure for the current liabilities of the division they disposed of. Thought you would be able to arrive at it by subtracting from 2015 figures but that would not have been accurate anyway so left it and said it could not be calculated.
Think I may have scraped a pass but will be lucky if I do!
How did everyone else do?
I think I had around 12k for the goodwill calculation.
I thought question 2 was horrible, nearly all of the education providers advised cash flow was likely to come up I dedicated much more time to this area as opposed to ratios/interpretations, and as a result I was definitely caught out in that respect.
Back on the topic of MCQs….
I’m not sure if it was just me but I found the MCQs SO much tougher than those from the specimen/December paper/revision materials. I was usually aiming for about 30+ marks from them in the past papers but I doubt I got anywhere near that today.
I think I’ll be resitting tbh, I think overall it was a really hard paper, glad to know that’s the general consesus though!
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Chris,
I think there was a figure for CL. they were all bunched together at the bottom along with the Long term Liabilities at the bottom for the SFP. Can’t remember the figure.
I think I got something around that mark as well for the Goodwill . its all a blur now. It had to be time apportioned as well?
For sure I’ll be re-sitting.
I thought it was a really hard and fairly unfair paper.
They made consolidation a 15 mark question and then put a TB for the 30 mark question.
Why? I mean, I understand they have to make the paper challenging, but that’s just screwing over people who studied hard and honestly.
The ratio question I had absolutely no clue what to do.
Best of luck to all of you all!
@andrewmc said:
For sure I’ll be re-sitting.I thought it was a really hard and fairly unfair paper.
They made consolidation a 15 mark question and then put a TB for the 30 mark question.
Why? I mean, I understand they have to make the paper challenging, but that’s just screwing over people who studied hard and honestly.
The ratio question I had absolutely no clue what to do.
Best of luck to all of you all!
Q3 is really ridiculous,1st time in my life i have saw something called ‘lease premium’.
total disaster for me. complete utter disaster. again ratios? come on man its 3rd time in a row. over all very tough paper.
That was miles harder than any of the mocks or past papers.
Multiple choice questions were particularly harder than usual..
Question three was just a joke!
Queston 1 was easy but I’m used to doing the whole thing so messed my head up a bit.
Questions 2 was relatively easy but an absolute outright piss take on the mark allocation. 5 marks for calculating 8 ratios (4 restated and 4 current) which also required restatement of the P&L! What an absolute joke! That took longer than the 10 marks avalable for the written analysis.
All in all a bit of a pisstake, bet the pass rate is ultra low for this sitting.
I agree, I felt I had good coverage of the syllabus yet half of the adjustments in the trial balance I had never come across in past papers.
My advice to anyone sitting F7 again would be to focus the majority of your study time on consolidations and attempting socie/sporl/sofp 30 markers. I personally feel as though half of my revision was a complete waste of time, only 4 marks on cash flow, no construction contracts, very little on financial instruments, I can’t recall there being any questions on the conceptual framework stuff either! Pretty demotivating and frustrating!
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Yeah it was pretty tough. Likely be resitting as well. The ratio question was tricky but relatively straight forward as the last 10 marks were just about analysis of the accounts. i.e liquidity, gearing profitability etc. wasn’t really anything to do with the changes i.e the first part of the question
Ran out if time though…. will be cutiing it fine to pass.
I thought we had to discuss the ratios we calculated in the bit above?! That’s what I did anyway but I guess that would only get me 8 marks out of 10 maximum. Should of added in another ratio in with hindsite and discussed that. Obviously to compare most of the ratio’s needed restating anyway given the discontinued operations, so made sense to discuss all 4 caluclated above first.
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I’m not sure tbf. i may be completely wrong. I just discussed the performance of the Financial Statements without the restatements. as it didn’t mention (I don’t think) reference to the ratio’s we have calculated
Oh right- I thought to use the adjusted ratio’s as if you look at the chapter on disadvantages of ratio analysis one of the drawbacks is comparability. You can’t compare stuff like ROCE for prior years without restating for discontinued operations first otherwise it is misleading, so I thought that was why it made us restate all the ratios above which took ages.
Anyway.. hopefully we both done enough to pass 🙂 Good luck for any other exams you got, I must start F8 revision now 🙁
@stato82 said:
I’m not sure tbf. i may be completely wrong. I just discussed the performance of the Financial Statements without the restatements. as it didn’t mention (I don’t think) reference to the ratio’s we have calculatedI found the MCQs the easiest part to be honest. Most I knew the answer to, some I could make an inspired guess by eliminating wrong answers, some I just guessed the answer.
Think I messed up in the written questions though. I’ll be lucky to scrape 50%
Quel desastre! I think I would have scored higher marks in Q2 if I had sketched my calculator in the answer book (just kidding!). Ah well! F8 beckons. All the best to all.
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On the same boat myself Mark. the f8 question book is in front of me. Good luck tomorrow!!
Yo, guys how was your paper?
It was lengthy no doubt…Starting with boss of all question 3rd..
I got profit of something 551000…
Balance sheet didnt balance of course.. 400k was the difference.- Topics: 0
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Very difficult. Never managed to complete question 3 as not enough time. Wish I had started on number 3 now.
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Revoelad,
Good luck! hope all goes well.
Quick question to anyone till here. The ratio analysis question. Did 2014 include the Operation and then it was sold in 2015 an included the profit from the sale?
I took it we had to do the analysis on how the sale has affected the performance of the company in 2015
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it was legthy
Was very challenging. Didn’t manage to answer the last cash flow question. Here are my part A answers:
1 C
2 B
3 C
4 D
5 C
6 D
7 D
8 C
9 B
10 B
11 D
12 C
13 D (not sure)
14 A
15 B
16 D
17 A
18 A
19 D
20 C
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