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61% – which Im really pleased with as I did home study, infact mainly Oper Tution lectures – Yvonne, I owe you big time !!!!
Examiners report on ACCA website !!
I feel as if they are talking directly to me…. 🙁
Hi Ansi
The reports for all other subjects are already there, just wondered why F6 took longer…
How do you think you did in the exam ?
@fatolayinka said:
The paper was fair to me, especially if you follow the OT f6 tutor and practice the June 2011 revision by open tuition. Although there were some tricky aspect of the question but one can easily pick some marks. i’m surprise candidates are complaing about question 3 on CGT. I listen and practice the OT f6 lectures and seeing those question was as if the super woman who took those lectures was talking to me in the exam hall. OT thks for your effort as for me i’v never seen any tutor as detail and with good lecture delivery as the super woman for f6.I agree, I could hear her voice…
“Annual Exemption – easy mark
Due date – Easy Mark”Even though it didnt actually ask for the date….. 🙂
Can anyone remember what their total IHT death tax was ?
What is the answer to part 1 of the vat Question.
I dont think “Jan 11” (my answer), will be worth 4 marks ??? 🙂
@curiousmeerkat said:
Question 5First transfer was a PET, which I reduced by £2,500 marriage exemption and £6,000 for annual exemption for current year and year brought forward.
Second transfer was a CLT but had the full nil rate band of £325,000 to go against it, then I worked out the tax at 25% as he was paying it not the trustees.
Then the death tax I went back to the PET which was now chargeable as it was within 7 years of death. Used the nil rate band of £325,000 against it so there was still no charge. Then carried the balance forward against the CLT again and taxed the excess (although thinking about it I didn’t use the gross figure, damn!) at 40%. No taper relief as under 3 years, minus the tax already paid.
His death estate, added it all up, took off his funeral costs, transferred the £300,000 to his wife as exempt, then worked out the tax on the balance left with no nil rate as it has been used on the PET/CLT.
I only used the nil rate band once, against the CLT in lifetime ??
I couldnt remember how to calc the lease in proberty income, was it £68,000 minus the equation ?@superwoman said:
This is correct we divide the limits by the number of associated companies annd for short accounting periods
Review chapter 13 of OT course notes
Hope this helpsMany thanks, actually this was covered by one of your lectures I looked at, at the weekend, so it all makes sense now.
Can I just say, I am doing Home Study, and I find your lectures superb.I cannot believe the amount of people who are worrying about this exam!! ok so there were some tricky questions, but altogether the syllabus was tested but just in a different way.
The students that will struggle are the people who are learning by rote and how to slot numbers in to a proformer, without ever really understanding what they are doing!!
The PAYE question was easy marks, and an accountant who does not know how to check a PAYE code or what it stands for is sorely lacking in the requirements needed to make a professional career.
Perhaps i am being a little harsh and i dont think my answers were by any means perfect but there were an easy fifty marks here even for those who are learning by themselves. I know i missed out on bits, but the reading time is essential to pull out those trigger points and scribble a note as to what to do with these!
Q1 was a dream!!
Q2 was just corporation tax – ignore the overseas and groups and still get over 80%
Q3 ok some tricky bits but again 80% easily
Q4 this is professional accounting – do the car benefit calc, do the company calc, compare!!! discuss… the kind of thing you should expect your clients to ask you daily!!!
Q5 brilliant, whathever you do – follow through!!! again 50% attainableAbove all dont worry, you probably did better than you think 🙂
Wise words, I hadnt looked at PAYE, but I just applied what I do at work.
Q4,I was a bit confused, but just tried to use my common sense.Merry Christmas to you !!
In Q1, it says calculate Joe Jones’s Taxable Income, so where then do you account for the £3000 into his Personal Pension ?
Does this not increase the Band ?Does anyone remember their total in the vat output calculation ?
Was it about £10,000 ??
Well not long now, and we will be put out of our misery….
Good luck everyone !!@manjula93 said:
F5 Answrrs are out on ACCA websiteThanks for that, dont know if I feel better or worse ???
q5
target 1 Y N N Y
target 2 Y N N Y
target 3 Y Y N NSO 6 yES – $400 X 6 = $2400
Is that correct ?
Does anyone have the variance answers ?@tameablebunchy said:
the question clearly stated both material and tailors were in short supply therefore limited and shadow prices had to be calculated for both.Was this meant for me ? I was talking about q5 .
I am the opposite to you, I am better at calculations, not theory….@acltang72 said:
I don’t understand how people managed to get 2 shadow prices. Shadow price is the additional contribution earned from one additional unit of SCARCE resource. The scarce resource was the tailor time. For example you can’t possibly use up the maximum fabric of 240 L suits because tailor time limits production to 200 L suits. (There is a slack of fabric so therefore no shadow price as it’s not a scarce resource). Could be wrong, but that’s what I did.Also that contract offer of pay at 3 times should have been rejected. Calculate the contribution less the labour costs of the original and new contract and you should find that the new contract generates less contribution.
The question about the manager manipulating the company records was about budgetary bias and slack. Well that’s what I assumed. I gave a definition and an example.
One thing I remember being stuck on was how can there possibly be 150 staff days in a quarter when there are only 90 days in a quarter (3 months x 30)……. I ignored the staff days and just used the normal days. But I’m sure I won’t lose many marks if its wrong. I’m pretty sure I got target 2 and 3 right. For target 2 I got NIL bonus for quarter 1 only, and NIL bonus for quarter 1 and 2.
For the staff lateness’ I mentioned that it may not be controllable as the lateness was at its greatest during quarter 2 and 3. Quarter 2 and 3 was during Autumn and Winter seasons, where traffic, train delays & staff illness are at it’s worst due to poor weather, therefore uncontrollable.
Hope for 50!
I was a bit confused about the 450 staff days, but then I though there will be several members of staff – 5 ?
5*90 = 450For the first question, I think (cant quite remember exactly…)
a) using labour hoursGL 3500+4500+3000 = $10260
EX 8000+7500+5000 = $20500b) using ABC
3500+4500+2260 = $10260
8000+7500+5480 = $20980Unfortunatly I have lost 10 whole marks in the 2nd section – I had no idea…. 🙁
What did everyone else write in c and d ?
(Just to make me feel worse…)
I struggled with the theory all the way through, and my calculations were not perfect, I think Im looking at 45%
Im not too despondant though, as I did teach myself!@navrozkaredia said:
i think my question 1 ABC is wrong .
in traditional method i was calculated Overhead 400000/800 = 500 but i think correct answer was 400000/40000 = 4also my ABC part wrong i am doing
superviser/visit 90000/500 = 180
planner /hours 70000/40000 = 1.75
property related/ document 240000/250 = 960
i think my part 1 was wrong,
but i dont know about part 2 any one help ?I just did it as it said on the paper:
90,000/500
70,000/250
240,000/40,000
but have no idea if that is correct ??