[accastudent1986]

I agree with Olaair, the link theory does not work

[accastudent1986]

It can take a while for the source code to update so do not expect an immediate change

[accastudent1986]

Yes i can access the link but do not see that as any indicator of a pass or fail.

I think all of these theories are a bit wishy washy to be honest and recommend just waiting until the official results are communicated by ACCA

[accastudent1986]

To all who are relying on the ebusiness source code theory, you will see the word ‘affiliate’ if you have opted in to have your name published in the finalists list, this is not an indicator of whether you have passed your final exam or not.

I know this because i opted in to the list and then saw the word affiliate in the page’s source code, i then opted back out of the list and the word affiliate disappeared from the source code the following day.

[accastudent1986]

For the license I stated that the revenue should be recognised over time as the customer simultaneously received and consumed the benefits

[accastudent1986]

Target cost was $140 with desired profit margin of $35 (20%) and i think estimated cost per unit over 2 year life was $145 so I recommended collaborating with outsourcing firm to determine what the value add processes were and focus of improving those to get to target cost

I recommended ABB as a overheads were high proportion of total cost and weren’t primarily volume driven

[accastudent1986]

I calculated total good inwards budget for the year ($238,500) then divided by number of planned items for the year (1,200,000) to get budget per receipt then multiplied by 100,000 to get budget for the month

[accastudent1986]

But the taggers tag per item and the budgeted items were 100k per month and actual items also 100k per month it was only the number of receipts that was different

[accastudent1986]

What did everyone write for question 2 about the characteristics of services? Kaplan study text didn’t really cover this in much detail so struggled to write a meaningful answer

[accastudent1986]

Did i misunderstand Q3b? I thought we just had to calculate the ABB for 20X6 then determine why July 20X5 actuals had a variance to budget as actuals were $18,000 based on 650 receipts of 100k items but budget was $19,875 for 750 receipts of 100k items?

[accastudent1986]

What did everyone get for the budget variance in Q3? I had 1,875 and struggled to explain it lol basically said the number of items same as budget but 100 less receipts but struggled to articulate the effect that had!

I thought Q2 was the disaster question personally!

[accastudent1986]

Can anyone remember specifically how they answered the question on EVA?

I took operating profit then
+ non cash expenses ($200k i think)
+ 75% marketing spend ($337.5k)
+ accounting depreciation (both values)
– economic depreciation
No tax paid

For capital employed i took opening bal then
+ accounting depreciation
+ Prior year marketing ($500k)
– Economic depreciation

For WACC I got 10.2%

And calculated EVA as something like -$7.7m

[accastudent1986]

I suspect that the examiner considers the numbers of people who have already been awarded pass marks before taking this approach (e.g. if 40% of students score more than 50 marks then not too many of the remaining 60% of students would have their scores inflated to reach the pass mark as the pass rate for all ACCA exams across all sittings seems to be around the 40% mark).

[accastudent1986]

Passed with 50% it seems that a lot of people also got 50% so wonder if acca bumped a few peoples marks up to ensure pass rate is around the 40% mark

[accastudent1986]

Thanks Chris, so as soon as my supervisor signs off on all the objectives the PER will be done and requires no review/consent from the ACCA?

[accastudent1986]

Thanks all, that answers my question! I’ve claimed for the first objective but doesn’t yet seem to be approved, does anyone know of timescales for ACCA to review and approve/deny an objective?

[accastudent1986]

Thanks for your response my question was more around a single activity that i undertake in my job that i feel covers elements from multiple objectives and whether i could use this single work based activity to claim multiple obectives (or elements thereof)

[accastudent1986]

Does anyone know how long ACCA take to respond once your supervisor confirms and PER objective?

[accastudent1986]

Thanks denp 🙂

So on Q1 it says calculate NPV based on the end of year 1 being the start of the project (year 0) did anyone else interpret that to mean ignore the year of investment?

[accastudent1986]

When you say the project started in 1 year’s time is that the part where the question said to calculate NPV excluding the T0 investment? Hope that’s what it asked! I remember NPV being around 18,000m JPY excluding the initial investment 🙁

[accastudent1986]

I agree with Darren’s comments + having to use JPY currency when values are in the billions and you have to use a calculator which does not display thousand separators just makes the question unnecessarily confusing when surely ACCA’s aim should be to test the student’s knowledge and skills?

It does seem like it was a waste of time studying the BSOP, WACC, RAWACC, CAPM, M&M, DVM, DPP, MIRR, Macaulay duration, islamic finance, VAR, Unbundling, dividend decision, corporate failure & reconstruction, trade barriers, Tobins, levs, Greeks…etc

[accastudent1986]

Was the closing futures price given for 7 months time rather than 6? If so I’ve messed that up by using a 7 month buy price instead of using basis 🙁

[accastudent1986]

For question 1 I can remember putting that futures was the best approach and to sell 640 contracts and then close out the position by buying 640 contracts i think i had the gain at something like 10,051.36 million yen then after investing in treasury bills for 6 months came to 6 million yen. For the NPV part did everyone calculate working capital requirement? To get the ARD to JPY rate i took the mid point of the spread for ARD to EUR to JPY and x by (1 + hc/1 + hb) for the future years. For the additional sales at 25% contribution i just included this in the NPV after converting ARD to JPY then applied 30% tax. For the lost sales piece (110m JPY x inflation) did everyone put a tax saving on this?

[accastudent1986]

Exam was horrendous in my opinion! Completely lost track of time on question 1 and spent 2 hours on it then struggled with questions 2 & 3. ACCA really isn’t helping it’s students by forcing them to take paper based exams especially for a paper like AFM where you need to lay out lengthy calculations and have to scribble your work out all the time to correct mistakes and makes answer look poor! Plus on every paper exam my tennis elbow flares up after about 15-20 minutes of writing! Putting question 1 in Japanese Yen when dealing with huge numbers and it a time controlled exam is just completely unnecessary and it makes the question more difficult than it needs to be! I guess that my score for this exam is probably around 40, either way I’m 99% certain I’ve failed the exam which is really disappointing ?

[accastudent1986]

For weakness in Q1 i stated that allowing customers payment holidays increases risks of unrecoverable debts due to the fact that customers would most likely require the payment break when they have cash flow issues.

Answered Q3 of section B as felt confident with the benefits management process

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