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It’s just Hard exam, all Option P papers are at masters level, and have 40% or lower pass rates! I’m glad they’re hard, makes the qualification worth it. Btw I passed with 57% last sitting.
@doreentinun said:
I passed P7 … so is tax easier ?Well i only just sat it along with P5… it seemed much more straight forward, i didnt come out the exam dreading the result… but i did do a 10 day residential course and spent 3 weekends straight revising it……
I would also like to note my job is a commercial accountant and i find P5 really tricky…. and it’s basically my blooming job! So i will be moving to audit if i fail it.
Why not switch to audit or tax? Both are not as ambiguous as P5, and are easier to pass….. I I fail on my second attempt I am switching to audit.
@TERRENCE said:
This is my 9th time writning this exam I hope it will be my last. If i do not pass i will switch to P4 which will be my lastYou’ve spent 5 years doing this one paper??!! That’s crazy!
@hershey said:
The question paper has been released….I cant see them on the acca website?
@emilygarrettiom said:
AE already used up & in 28% band, so 30,000 will represent proceeds after 28% CGT deducted45x-((45-5)x*28%) = 30,000
45 – (40*28%) = 30,000/x
x = 30,000/45 – (40*28%)
x = 888 sharesCHECK:
888*£45 = £39,960 Proceeds
£888 * (£45-£5) = £35,520 Gain
£35,520 * 28% = £9,946 CGT
£39,960 – £9,946 = £30,014 Net Proceeds after CGTI can’t remember the exact amounts in the exam so I’ve used £45 as the sales proceeds and £5 as the cost just to provisionally show the formula I used.
That makes sense unfortunately… lost a mark there! I assumed it was SP less cost to give net figure, but the SP is actually funds received… I guess AE will be one mark, using SP – Cost to give CGT Calc will be one mark.. and getting the right figure will be the third mark… 🙁 better not get 49!!
I’ll give you a tip, ignore all these pointless tips and learn the whole syllabus! Why they put this rubbish in here is beyond me.
Think one relevant paragraph = 1 mark
So in theory all you need to do is write 50 paragraphs to pass 🙂
It stated how he would have £30k to invest in his daughters trust, after all taxes not 800 odd shares.
That looks wrong…. Take the proceeds less cost as you would any cgt, less 28% ignoring annual relief and you don’t get that answer.
Great paper to be honest, loads of residency questions, remittance basis, CGT on foreign assets and UK assets, IHT and some income tax… part 2 was tricky but apart from that a good paper, I’m rubbish at companies so it was good for me, even though there was a RPI adjustment etc which is straight forward. I even finished 15 minutes early which for me was a bit of a shock, i filled up the anser book though just to the last page. Here’s hoping!
@LATTY said:
I really am disappointed. I don’t know if 15 minutes is enough to read, disect, understand question 1 let alone read the other questions. No matter how hard I try I end up with unfinished answers because of time constraints. Trying to ensure I understand the requirements takes up so much of my mind’s power to effectively respond. I know the material, yet ACCA doesn’t know that I know because exam definitely won’t prove it.I was taught to read more and plan before writing, I spent nearly 30mins reading and sorting out q1 before I started writing.
I just hope that approach worked! Learning these courses at home is not easy, not being in industry won’t help either. That’s why they are at the post graduate professional level, they’re the equivalent to a masters level degree.
@Minaa said:
I got p3 on Monday and I’m already disheartened!P3 is a good paper, very straight forward, got 40% on this last sitting and 67% on P3, it will be a breeze compared to this!
@lzyjzy said:
Lol I think I got 12000 but I had a feeling I calculated it wrong so hopefully that was only one mark.I recall it was:
4.2mil of additional materials
800k of marketing
400k of auditing ( or something)made 5.4mil of additional to catch up, with sale of $75 and new cost of $21* an additional 10%, meant an additional 110k units were needed to be sold to keep teh same level of profit.
Well that’s how i dealt with it.
Q1 i) The metric had to follow with the swot, in other words the metrics had to measure what the swot wanted, if they weren’t there there needed to be some kind of measurement, lots of NFPI in my eyes. It’s a dam tricky paper!
Seemed a lot easier than the last one which i failed…. even needed a second booklet because i wrote so much
Q1 – seemed very straight forward, hoping for 30-35 marks
Q3 – This seemed far to easy… hoping for 15-18 marks
Q2 – Why did i choose this one?? prob 10 marks max!
Should have chosen Q4.. talking about the divisions and RI / EVa etc, i studied that one to but was bored of doing calculations
So hope i passed 🙂
It’s like me saying the 2:30 at Ascot is going to be won by no.7 I’m a winner…
p.s. ignore what i said above as i just guessed.
it’s just pointless.
I know it says that, but at a time when people are studying and stressed do you think they take that on board? Why put it on here if it’s a load of tosh? I ignore it all, but i bet a lot of people don’t. It’s unprofessional.
To be honest the more worrying thing is the exams tips they put on here of what they think will be in the paper… it’s a load of rubbish! It’s very misleading and shouldn’t be on here.
https://www.accaglobal.com/content/dam/acca/global/pdf/sa_july11_perfmeasurement.pdf
This is a great article on EVA… although it came up 12 months ago I’m not sure how good the tips really are…. watch it now appear in the exam 🙂
The same, a bit nervous…. my last 2 exams this and Tax, failed this last sitting but I didn’t really do much work for it and got 40%… really don’t want to resit in September!
Learnt all the models and theories, just need to apply them to the questions! Last thing I need to brush up on is EVA!
Good luck on Thursday! 🙂