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Well that was interesting! I found I had sooo much to type it become actually painful to my wrists.
First question was about mostly goodwill, proportionate FV method and IFRS 5 non-current asset held for sale.
Admittedly, I feel like I lost marks on the pension calc and the guarantee.
Second question was about ethics (obvi) but it focused more on ethics than the accounting issues as the accountant was earning commission from issuing short term loans to a users of a gaming website.
Third question was about a company that owned cruise ships and the management did not want to conduct an impairment test (I went wild on this, IAS 38 is my jam)
Last question was about a company wishing to disclose its EBITDA to investors and the manipulation that comes with it…
Like I mentioned earlier, I felt that I could type more on each question but ran out of time and I feel like my answers weren’t good enough to warrant a pass.. fingers crossed
Horrendous. Don’t even know what to say.
Question 3 IFRS9 question regarding the government grants and payment holiday and the application of ECL I was especially lost
Brain is a bit fried to go over it all and dissect at the moment. Maybe in a few days.
Tough paper in my opinion. Not a lot of marks from calculations which is something I tend to rely on.
Well, very strange feeling about an exam, from one side it was ok, but from the other I got lost on almost all questions , this time pressure really does it’s job …
Q1 disposal of sub
Q2 ethical question
Q3 expected loss, not typical
Q4 Ebitda concerns25 marks on EBITDA…
Hardest exam I have ever sat I think. And I only have a couple more from starting from scratch.
Definitely Failed.
Really unfair exam, not comparable to the past papers at all! The last Q Ebitda sucked and the whole paper was nasty! Booo to the team who wrote the paper!
And the exam results are out Easter Monday…bad timing!Worst exam ever. As people mentioned, nothing like past papers. The questions were all coded and difficult to follow, my opinion at least. Lots of marks on EBIdTa. Absolutely horrendous paper, I think I failed it with flying colours :((((
I don’t think that’s very fair that you’re asking what was on the exam when the rest of us who sat it today did it blindly
The exam was so awful. I understand ACCA want to examine us to see if we understand the standards and concepts and can apply them but it is extremely unfair how they gave huge chunks of information, it made it impossible for us to read the information and comprehend the scenario within the time limit.
saarah99 wrote:I don’t think that’s very fair that you’re asking what was on the exam when the rest of us who sat it today did it blindly
Agree with that. I think they should take another look at the ACCA code of ethics… 🙂
saarah99 wrote:The exam was so awful. I understand ACCA want to examine us to see if we understand the standards and concepts and can apply them but it is extremely unfair how they gave huge chunks of information, it made it impossible for us to read the information and comprehend the scenario within the time limit.
Agree with this hugely. I had to read the questions 3 or 4 times to get a grasp of what they were asking. I’m gutted as I genuinely put so much time into this and covered the syllabus well on the whole but 25 marks on EBITDA is obscene for the amount it is actually covered in the books.
Terrible exam. Unfair and pointless. What a waste of three months of hard study.
The examining team should be ashamed.
Exams should be based on testing you on your knowledge and application and not tricks and riddles!So I’m relieved to read that everyone else had the same issue as me (although it’s a shame we all feel this way). I felt like I was constantly reading and re reading the questions not really understanding the situations. Thought I was just in a blind panic.
25 marks for EBITDA is insane, very open ended questions I thought, meaning I spent 20 mins on the first 4 marker. Not really knowing how much detail to go into.
Let’s just hope the marker is generous with their marks and gives more marks for knowledge displayed as that shows the hard work we all do revising the syllabus!
Thank goodness everyone is saying this! I thought I was the only one! Nothing like past papers. Couldn’t read the questions in the time allocated at all. So many pop ups to read through and to understand what the question is asking it needs reading in detail multiple times at least which took up too much time. Half of the questions you didn’t even know what they were asking! I could have given up half way ?
This exam was horrible!!
I got mentally exhausted there was so much to read it was really insane …
The typing alone was so much that I felt like giving up towards the end.
If I knew this exam would be this intense I would really recommend building up the mental stamina it was just way too much !
I felt like the information given was almost contradicting itself …. After reading the first paragraph you get a sense of what’s going on and the next paragraph makes you question everything…
The time was so limited and even figuring out what the heck the scenario was trying to conclude was just impossible to follow for such little time …
I am really not impressed with this exam at all the layout of questions and information was just too much for the time given
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