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Finally!!!! Passed P5 54% I’m over the moon! ACCA done!!

THANK YOU OPEN TUITION!!!!!

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I HIGHLY recommend The Learning Luminarium!! I just passed with a B first attempt (whilst juggling my final ACCA P5 and P7 exams at the same time)! I could not have done it without them!! Thank you 😀 😀

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I’m so frustrated 🙁 I knew the paper when I saw the questions I was so happy! But then I got so excited that I wrote too much on the first two questions and ran out of time 🙁 left nearly 20 marks out! Definite fail such a shame 🙁

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Great thanks a lot for the explanation and for sharing the link ! 😀

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Ok thank you! 🙂

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@oasis said:
I completely agree with what u people are saying. The examiner is not able to recognize the hard word we students are making to prepare this paper. I have heard that ACCA now has a policy of not disclosing the examiners. And as far as I know Sir Alex Watt has been there for long time now. Do anyone have any information regarding this?

To be honest I am not even sure if it is Alex Watt anymore…I understand he was the examiner between 2009 and 2012….they have now stopped disclosing the names of examiners for safety reasons I believe…I am not sure if the examiner has changed or if they are just not disclosing his name…

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@seanan said:
” I am giving this one last go but if I fail I have to go against my role at work (and my future) and choose another option just to pass ACCA! 🙁

I have resisted the temptation to shift to another paper just for the sake of finishing ACCA. Its because I think I have a calling in PM and would want want to major on it as a consultant but one and the only one examiner has not made it easier for me. Hope for the best not the beast this time around.

I wish I could do the same but this is holding back my life as I am leaving my country to a country which does not have an ACCA exam centre and this exam is holding me back…and I am not getting any younger!

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@ifeyan said:
Q2 did anyone notice that the natural disaster was after the year end. So I felt the carrying value didn’t need any adjustment. Therefore, the contingent asset should only be provided for only when it is certain. I was so time constrained….. Hoping for the best

Yes I did the same…I said that it is a non-adjusting event but evidence required to confirm whether or not the insurance claim was probable or not…then I went on to say that if so disclosure of the contingent asset it required…

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I completely agree! I feel that I know this subject inside out as well as the application (as my job is a consultant in the performance management sector with one of the Big Four firms and has been for the past 5 years!) however I still fail this exam! The way the questions are worded are misleading. I come out of the exam questioning if I even answered what he was asking. I achieved pass marks of 80+ first time on the exams which P5 is based on such as F5 and P3. I am giving this one last go but if I fail I have to go against my role at work (and my future) and choose another option just to pass ACCA! 🙁

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Thanks Rohan! I will be using this ‘What’, ‘How’, ‘Implication’ technique in my exam 🙂

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@abdullahzafar said:
I almost wrote all of points which you mentioned above.

There is a business risk of going concern as the company’s cash flows were in deficit and loans were increasing.

There was a business risk of brand acquisition that it would not generate sales or cash flows for the company leads to risk of more cash flow deficit.

New Control and accounting information implantation could require more funds which company would unlike to manage.

Many more points like these

I also included the dependency on the revenue from the new animal products seeing as it consists of 15% revenue. If the company fails in this new market then the total revenue has declined from the previous year and there is a risk that it will continue to decrease.

Also there was a risk with regards to having to obtain the patents which are rigorously scrutinised so there is a risk of the company not being able to obtain the patent or being involved in further legal action.

There was also a risk of the company ending up with stock which it cannot sell due to the fast developing market and continuous product development.

Can’t remember what else I included…

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@abdullahzafar said:
I wrote 7/8 business risks. Is it sufficient enough to get me full marks?

It was 11 marks and its usually 1.5/2 marks per risk identified and explained so I am sure you are fine 🙂 I went over board hehe

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@abdul.y.ali said:
MM – wot did u guys put down?

I went down the route of:

-GC
-Provision litigation
– Manipulation due Finance sought
– Intangible assets

abdullahzafar you get one mark per identification capped at about 3-4 thereafter you have to explain (7-8 is about right for full marks)

Those are the exact ones I found too 🙂

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@abdullahzafar said:
Hi, can you please tell me how many business risks we were required to identify and evaluate in question 1.

I identified quite a few business risks (probably one per mark…so 11). RoMM I identified 4 as we were asked..

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Q2 was a nightmare…also question 5 which spoke about misstatements I feel that some were trick questions…especially regarding the increase in provision which we were asked to explain without being given any details…what did you all do for it (whoever chose Q5)?

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Oh ok! Thanks for clearing that up for me 🙂

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Ok thanks for your help! 🙂

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Ok thank you 🙂

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But 2,258,000 is the total inflows up to year 5…the answer also says its 2,258,000… 🙁

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I’m struggling to understand this 🙁

For example in example 3 of Chapter 15 – Discounted Cash Flow techniques I came to the following:

PV of return phase = 2,258,000
PV of investment phase = 2,000,000

MIRR = [2,258,000/2,000,000]^1/5(1+0.10)-1 = 10.24%

However, when I looked at the answer it is 12.7%

I can’t understand what I did wrong 🙁

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Great 🙂 thanks so much!

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Ok thanks for your help just the same.

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Great thanks for clearing that up for me! 🙂

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Perfect thank you 🙂

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Ok great thank you !

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