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2nd attempt and passed with 55. It was my last exam!
It was really difficult to motivate myself for preparation. I planned to give up in case of failure but something helped me.I do not think that my preparation this time was more serious then last time. I think that this time I was more lucky as exam contained more topics I understood better and I made smarter choice of questions.
The idea of looking at the questions from position of owner/consultant really helped me.Thanks for all help!
I wish all the best for all P5 takers!John,
my question was about M&M formula usage in this question.
Your lecture notes (page 57) define Kd as pre-tax cost of debt.I was wondering whether it was correct to assume that pre-tax cost of debt for Haizum (Kd) equals 4.5% (which is five-year government debt yield in scenario). It is in published answer.
Isnt it strange that pre-tax cost of debt of Haizum equals government yield?Thanks.
Section A is really a challenge for me. Q1 may be easy question (PESTEL or Porter, SWOT) but it takes a lot to write a good looking answer- especially when question is compounded by financial analysis( in that case time is spent for writing calculations)Usually I answer Q1 in 110 minutes including reading time
But may be its a good strategy to leave challenging parts of section A for the last 15-20 minutes of exam.Regarding question verbs – I dont see any significant difference between
ACCESS
DISCUSS
EVALUATE
CONSTRUCT THE CASEIn all these you have to present arguments for and against. Do you?
Thanks, very useful.
Not sure although how much time will be left after reading and understanding all 3 questions, I suspect minimum reading and planning for Q1 (30mins), Q2 and Q3 (30mins) = total 1 hour.
Therefore we come to only 135 minutes of actually writing the answers!! That’s a biggest issue in that exam I think.What is your usual approach – to do Q1 first or to solve it after doing smaller questions?
Hello Mike.
I hope you will find time to confirm/correct statements I have made above.Mike, good day!
I also have question in regard to technical articles.
Do you think it is neccessary to study them if I plan not to do question 4?
Thanks, Mike.
It has become clearer for me now (although it still look strange – requirement to remeasure to fair value despite the fact that is held at cost).Mike,
I dont understand then where in your sequence of steps I can find requirement to measure AHFS at lower carrying amount and fv less cost to sell (in my message it was step 4).Also, is (2) also related to the assets held at historical value?
Mike,
thanks I understand my main question- that scenario says dividends have been paid already and NCI have been adjusted and therefore I dont need to post these adjustments again.0.4 mils is NCI share of 2mils total dividend (20% of non-controlling interest).
My understanding is that in case of dividends paid we need to account them only in NCI’s share, thats why we need to decrease NCI and increase dividend payable in that amount.
Other portion of dividend ($1.6 mils) is intercompany and therefore need not to be shown in cons SoFP.
Mike,
so your answer is that in these both cases we should implement these changes to initial goodwill calculation?Its the first time I sat Acca exam and I got 84…. I guess I spend more time than neccessary for that fairly easy paper.