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Exam was a lot easier this time but weird at the same time. Since I did PM 2 days ago it wasn’t so bad for me but Section C tested an analysis of 2 projects with different life cycles, then part b was questioning on the Efficiency (One of the 3 Es), the 2nd section C was cash flows
I think it was ok, but that scare me as I have never had an ACCA exam easy. Lets see what happen!!
for one of the qs cost of equity i got like 11.3% other option was 11.2% anyone else?.and for the section c npv calculation part a i got initial investment 1m-pv of like 1.4m to get npv 413,000 or something,working capital days 50 too?anyone remember more answers
Surprising how easy it was. Section À and B were quite a breeze. Got stuck at a current ratio calculation in section B. (yes… a current ratio) I couldn’t figure out the revised payables so I had to take a guess there.
Section C was ridiculous. It was 10 marks for a MV WACC calculation and then WACC theories for another 10 marks.
The other question was a divisible or non divisible question. 4 and 3 marks respectively. The other marks were NPV calculation for 7 marks and another 6 for risk and uncertainty and connection sensitivity analysis to the question.
Nothing felt out of the ordinary it was all from directly from the study text and kits.
I had the same questions. Did you take into account project Z when evaluating the maximum NPV? As it was said that project Z has to be taken no matter what due to the government request, I wasn’t sure what is the correct approach.
Yes, I took project Z into consideration. If memory serves me right it was 12.6 for divisible and 11.6 for non divisible.
And the NPV calculation for Project Z in the next requirement showed NPV was positive by just a small number. 0.34 something.
exactly! this ton of work about cash flow in section C took almost 50 minutes :/ and for only 8 marks.
I didn’t take that project Z ,but other calculations are okay will they consider whole answer wrong?
About project Z calculation.i took cost of electricity 30m from year 0 and for further 5 years.Also initial investment 25m i took as year 0.Theni got CF and discounted.After this i applied tax to CF then calculated NPV .without taking tax benefit of initial investment as in requirement it says not tax allowable.And there was also information that 27% decrease in emmision.But I didn’t know in which I should use it.Is there anyone calculated like I did?
@ulviyyatg if you shown rankings etc, you will get some marks
Section A and B were an absolute nightmare for me. Disappointing as I felt pretty good about section C questions
I don’t know what to think! So much of the syllabus just wasn’t tested.
I had cash flow and replacement cycles for section C. Was expecting WACC.
Feel like the cash flow question took up so much time that I’ve wiped all section A and B from memory. We will see what happens!
I dont remember doing a type of question like the one that came up in Section C, regarding Porject Z NPV. It was all cash outflows. There was a savings involved but I got a negative NPV. Dont know if it is right or wrong but i wasted a lot of time on it.
Mzabbas wrote:Section A and B were an absolute nightmare for me. Disappointing as I felt pretty good about section C questions
I feel the same! Section C seemed not so hard compared to A/B and I was expecting the opposite.
Sec A & B were sort of hard disguised in easy… I got to calculate mv of loan notes of 7% 6mths pre tax cost of debt redemption and 3.5% loan notes pre-tax 8% yet there was corporation tax=20%.. Don’t know if i mess up
Sec C.. Any1 got?
1. Bulk purchase or early payment, WC- conflicts btw liquidity & profitability
2.NPV- calculation, Fisher effect theoryBlank in mcqs ques.. Dnt remember.. ?
Hey I got the same Sec C @Shivvy…
Really got confused with that sec B MV of loan notes 7%, paid halfyearly.My typing was reallly slow and this was my first applied skills paper. I got positive NPV in Sec C couldnt remember the amount though.
As I was calculating NPV in ($000’s), I forgot to type the answer in full amount, i.e. to include the last three zeroes in my final answer, will that be a problem?I pray to god, that everyone who did alot of hardwork on this FM paper and also other ACCA papers will pass the exam!
Let’s hope for the best…
I took the exam remotely and was disconnected for about 30 seconds. The OnVue app just quit and asked me to relaunch. Will this have any consequences?
This was the most unstable my exam has been. I’ve taken 5 exams remotely over the year in the same conditions but this was the only session where I’ve faced problems.
I tried reaching out to the proctors in the middle of the exam explaining how the screen kept loading forever between the questions but they would just close the chat box on me.
I had no issues with time whatsoever, but I don’t know what to expect for being disconnected.
This is the happiest I’ve been with my performance and I don’t want my connectivity issues to have an effect on my final score?
I got in section C Capital rationing question divisible and indivisible for which maximum Npv is required I got answers 12.6 for divisible and 12.1 for indivisible and there was I project Z i was unsure that I got correct Npv or not and also in sec C I got Wacc question I got answer 11.63% and capital structure theories and Section A was quite easy but Section B was very difficult.
mariya2311 wrote:I had the same questions. Did you take into account project Z when evaluating the maximum NPV? As it was said that project Z has to be taken no matter what due to the government request, I wasn’t sure what is the correct approach.
Didn’t the question say to assume that NPV of project Z is zero?? :O
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