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I passed with 51%. Thanks to John for a job well done. God bless you Sir. I am grateful.
Overall the paper was not bad as questions were drawn from different area of the syllabus.
Section A was a bit straightforward except for few objectives that were tricky like the question on the quick/acid test ratio and RI.
Section B again was appreciable looking at LCC, advanced variances and linear programming. I think the challenging aspect was with the variance calculation. But again it was not that difficult. The linear programing question was a give away provided you understand the principles behind it. The LCC question was a good one with some tricks more so in calculating the LCC per unit. Most students must have left out the time period for the two stations.
Section C examined budgeting and divisional transfer pricing. The RI and ROI was really simply and straightforward. The challenging part for some students would have been the discussion element. Accountants must provide meaning to their calculations. The budgeting question again was not really bad as students were asked to revised the budget for the six months period taking into account the changes that took place within the budget period. Beyond budget was a shock for some student but with only two marks which was just a token.
As I conclude, we must study very hard, covering the entire syllabus and practice a lot of exam style questions and don’t forget to expect the unexpected as the examiner is not restricted to draw questions.
