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ACCA F7 June 2013 Question 3 Monty

VIVA

ACCA F7 past exams lectures Download ACCA F7 Q&A


Reader Interactions

Comments

  1. sueellen says

    April 6, 2014 at 5:02 pm

    I found it.

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  2. sueellen says

    April 6, 2014 at 5:00 pm

    Hi Mike

    Where did you get the $200 impairment for the DEVELOPMENT EXPENDITURE?

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  3. tinana says

    April 5, 2014 at 10:28 pm

    Hi Mike, please help with the classification of dividends paid, under which circumstances does it fall it under investing activities?

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  4. tauraiversatile says

    October 29, 2013 at 11:17 pm

    Thanks MikeLittle, I will take a straight edge to the exam room..

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    • MikeLittle says

      October 30, 2013 at 7:46 am

      and don’t forget it! Put it by your door on the evening before the exam!

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  5. lwhite27 says

    October 2, 2013 at 8:25 pm

    Good day Mike,

    I regards to ques 3, the ROCE working is different from the answer sheet provided. Please let me know what the correct calculation should be.
    The answer sheet used (12550+1400+1950) and you used (12550+1400+1200).

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  6. MikeLittle says

    June 28, 2013 at 9:14 pm

    Hi Koolman

    The last time I calculated it, each mark in an ACCA exam from F4 onwards is worth 1.8 minutes …. but just let me check…… 180 minutes divided by 100 marks equals ….. (just looking for my calculator) ah yes, 1.8 minutes.

    Where on Earth have you found 1.5 minutes?

    The ACCA examiner doesn’t put “tricks” into the exam designed to make you struggle! The “twists” to which you refer are all repeats from earlier exams. The “well prepared” student would have recognized these.

    However, even with these tricks, there are ample easy marks for you to achieve the necessary 50%. I accept that, if you are aiming for 100% then, yes, it would be a really tricky exam. But there again, no-one has EVER, EVER, EVER scored 100% in an F7 exam. And quite right too. I was recently scored straight 4s on a feedback form by a student. She approached me after the course and explained why they weren’t 5s. Her professor at University had told her group the no-one was perfect and there is ALWAYS room for improvement. So she gave me 4s and said that that was the best she could give (the rest of the group ALLgave me straight 5s)

    So, accept it. The exams are hard, they are testing and they will never be perfectly attempted

    …and good luck in August when you get your results

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    • gregory says

      June 29, 2013 at 12:24 pm

      So does that mean that the ACCA would never give full marks even if the answers were 100% correct – because no-one is perfect and there is always room for improvement? Does that apply to F1, F2, and F3 as well, where a computer marks it?

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      • MikeLittle says

        June 29, 2013 at 4:04 pm

        100% HAS been scored in F2 and F3 on a few occasions, but never in any paper beyond F3. Of course, if you submit the perfect script, there’s no reason why you shouldn’t score 100%. It’s just that no one has.

        As for my comment about the professor and his blinkered comment of “nobody’s perfect” – that’s a line attributed to an individual academic and is not a thought with which I can easily concur. It really depends on context. When a darts player completes a game of 501 in just 9 darts, why is that not perfect?

        Or a snooker player clears the table with a break of 147? Or a baseball pitcher throws a perfect game?

        A simple comment about “nobody’s perfect” is just that – a simple comment (from a simple person)

  7. koolman says

    June 27, 2013 at 8:27 pm

    Dear Mike
    We all have no doubts about your experience and competence and very much appreciate your efforts and opentuition’s as a whole.
    A few points:
    1. The allocated time for each mark should calculated as 1.5 minutes not 1.8; we, as students would need extra time to go through questions to find relevant information.
    2. ACCA should be testing our knowledge across the subject as students who have to work as trainees and get experience even after we qualify.
    3. I don’t take it is fair at all that ACCA examiners put some tricks or twists to let the students struggle as you can see it has taken more than allocated time (actual allocated time = 15 x 1.5= 22.5 minutes ) for an experienced teacher to put his totals right.
    It is very obvious that under exam conditions we will panic and loose time to get our totals right.
    What if some students have good knowledge, but suffering from some kind of mental illness?
    I do not have to comment on ACCA’s motive of this kind of exam approach…………………………..
    But, once again many thanks to you and opentuition.

    Best regards

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