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I can’t believe it, I completely lost my mind!
I kept doing (Do x 1+g)/Po MINUS GROWTH! and kept getting 2%, I don’t know why I kept minusing the growth! even though I knew the formula, and I kept looking at it thinking what am I doing wrong! and could no see it! until when I came out, it bothered me so much, that I googled it as soon as I came out, and when I read it it was + I realised I had been putting Minus! OH god!
oh well, hopefully I get full marks for the remaining..
It was a tough paper! I really hope I scrape through this one! I can’t be asked to study the whole thing again 🙁
I thought the paper seemed very tough. In preparing for the exams I had gonee through all the past papers available on the acca website and felt the standard of these was much harder. Hopefully I will pass bit I’m disappointed because I felt I had prepared myself well and I lot I was hoping for didn’t come up. I had thought islamic finance would come up so I prepared that but then it was only worth 3 or 4 marks! ?
The exam was very challenging. It is by far the hardest acca exam I have taken thus far.
@sophierayner said:
I agree, really hard (much worse than Sept 15)I totally agree.
I agree with acca145.
They give you a fairly easy NPV to start off with so you fret over the little details and then hammer you at the end with that interest rate calculation based off a tricky working capital computation.
MCQ’s definitely harder than most past papers and BPP ones I’ve done.
NPV i got 2176 maybe slightly off as i did straight line/4 x tax but didnt deduct scrap.
Wacc i got 9.9%
Any comments on this?
MCQ
Also what did people get on MCQ.
Similation anaysis is? I chose last two options
One of the mcq – 6000 benefit
ARR Interest i chose neither.
€50,000 / 1.45
80,000I got 7000 somehing profit.
Any more people found? Please remind discuss
@tayeb11 said:
MCQ’s 1 – 10
b c d d d b a a c dI had more A s than D. First was C then last i got A.
This exam was completely non-typical and yet very interesting. NPV and WACC was easy.
Hedging interest expenses was about forward exchange contract and money market hedge. Convertible bonds: 4% growth is below $1000, so no convertion, 6% is above $1000, so convertion is likely. Working capital: I calculated working capital in $ and then calculated %% (1M overdraft, the rest is LT debt).
@helplogon said:
This exam was completely non-typical and yet very interesting. NPV and WACC was easy.Hedging interest expenses was about forward exchange contract and money market hedge. Convertible bonds: 4% growth is below $1000, so no convertion, 6% is above $1000, so convertion is likely. Working capital: I calculated working capital in $ and then calculated %% (1M overdraft, the rest is LT debt).
Agreed. How did you inflate your sales? Price x inflation to power 2 , 3 , 4 ? I got 2176 NPV
@acca145 said:
what was mv of zero coupon bonds in mcqs?I think you just x by Present value rate and you get answer.
@helplogon said:
This exam was completely non-typical and yet very interesting. NPV and WACC was easy.Hedging interest expenses was about forward exchange contract and money market hedge. Convertible bonds: 4% growth is below $1000, so no convertion, 6% is above $1000, so convertion is likely. Working capital: I calculated working capital in $ and then calculated %% (1M overdraft, the rest is LT debt).
with conversion, of the 4% growth and 6% growth, I remember the question asking what the market value is on each now?, it didn’t ask what they should take? the market value would then be the npv of each? which are both under 1000?
I messed up though, because the question say the loan notes are for 8 years, or redeemable to shares in 7, so when I did my cash flows to find mv, I did interest 1-7 years annuity, and wrote that I am assuming interest payments would stop after the loan note is redeemed as shares after 7 years..
Maybe I got this one completely wrong lol..
NPV i got 2176 maybe slightly off as i did straight line/4 x tax but didnt deduct scrap.
Wacc i got 9.9%
MCQ
Similation anaysis is? I chose last two options
One of the mcq – 6000 benefit
ARR Interest i chose neither.
€50,000 / 1.45
80,000I got 7000 somehing profit.
Any more people remember? Please remind. Anyone remember exactly Q1 to 5?
I got WACC 6.91%. and im seeing most people got around 9%. now im getting a lil worried
@acca145 said:
what are option to select for government actions which are useful for business in mcqs?I said improving the transport links and routes and reducing the cost/tax to manufacturing industries (can’t remember what it was exactly) but I’m not sure that’s right. Raising the minimum wage for employees might help consumer spending but I thought it would be a higher cost to the business and I can’t remember what the last option was!
@aislingof said:
I said improving the transport links and routes and reducing the cost/tax to manufacturing industries (can’t remember what it was exactly) but I’m not sure that’s right. Raising the minimum wage for employees might help consumer spending but I thought it would be a higher cost to the business and I can’t remember what the last option was!Transport link is one defo the other i chose something else…
HI Guys,
In terms of Q3 I believe the issue was to calculcate NPV of cash flows and then divide it through annuity factor, as we cannot compare cash flows from different period. don’t you think so ?
BTW It was pretty tough comparing to quite repetitive and similar to each other previous exams.
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