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Consolidation structure was fine, but notes in that question were tricky.
1- which costs have u incl in restructuring provision?
2- how u deal with joint arrangement?I messed up my calculations and working, finally had aroun 100m difference in balance sheet
@berolina said:
It doesn’t look like a standart, but here it is 🙂Dear Sirs,
I would like to pay your attention that ACCA management should review examiner approach to P5 Advanced Performance Management paper.
I March 2016 I had my 5th attempt, although I resit exams only twice (P1 and P4 – that is much more complicated). The syllabus is quite straightforward and understandable. The main issue is case complexity, very tough time pressure and examiner intention to mislead students.
Examiner advices to treat business case as real life issue, but managers always tries to make business tasks clear not tricky.
For most of the students P5 is the last exam session, students have real businesses, families and gray hair. The average age is about 30-40. We are solving sophisticated and multifunctional tasks every day and preparing to exam at night. If we could pass 13 exams before we should be smart enough to get ACCA qualification and move on.
The lowest pass rates on P5 confirm that the requirements are too hard and approach to exam should be weakened.
More comments you may find here https://opentuition.com/topic/p5-march-2016-exam-instant-poll-comments/Thank you for your attention,
Thank You Olga!
Here is my complaint:“Dear Sirs,
I would like to pay your attention that ACCA management should review examiner approach to P5 Advanced Performance Management paper.
In March 2016 I had my 2nd attempt, although I have never resit exams. Following discussion with other students, that seems demotivating that majority of students have attempted this paper for several times and the paper has the lowest pass rates among all P-level papers. The syllabus is quite straightforward and understandable. The main issue is case complexity (too many requirements, majority are hard to understand), very tough time pressure and examiner intention to mislead students.
Examiner advises to treat business case as real life issue, but managers always tries to make business tasks clear not tricky.
For most of the students P5 is the last exam session, students have real businesses, families and gray hair. The average age is about 30-40. We are solving sophisticated and multi-functional tasks every day and preparing to exam at night. If we could pass 13 exams before we should be smart enough to get ACCA qualification and move on.
The lowest pass rates on P5 confirm that the requirements are too hard and approach to exam should be weakened.
Moreover, that makes students to feel dissatisfied with ACCA approach, doubt transparency and fairness in exam treatment.
More comments you may find here https://opentuition.com/topic/p5-march-2016-exam-instant-poll-comments/Thank you for your attention,”
@berolina said:
YOU ARE RIGHT!!!I’ve completed survey and sent a letter to ACCA mail. Please join up!
Olga, Please share the text of complain here, so we can send the standard email to ACCA.
maybe someone writes good-structured complaint and send to ACCA with cc participants?or each of us send the same msg with cc other members?
@helloraj said:
I think personally that not the paper has some problem,the examiner has some issues.P5 passmark is everytime low.If you are given a syllabus and you know it well then you got to pass it.I have heard that syllabus covers only 30% of the knowledge..so the 70% knowledge is in the nature.Where?Any exact location.Do we have a complete syllabus??? We need to bring this to the attention of ACCA.I highly believe we must do a petition to make the current examiner out.As said above by a fren we cannot be so stupid and dull…passing so much papers and stuck wiz P5The examiner must be questioned..may be he is the problem and not the P5 exam paper.Friends think about it.I totally agree with You! sitting paper 2nd time! and every time when I open the question paper during the exam i have to spend time to understand what is going on and what he wants me to write. Still so much to write in limited time.
Everyone complains here, and no one organizes petition! Come on…people, if we have native speaker here, lets try to make ACCA to consider the reason of so low pass rates for P5. It is unreasonable, since the paper is not so complicated. ACCA just considers us “cash cows”
@wankhaidir said:
i’m also not sure…too much time pressure to think where this amount was derived. i just assume it was wrongly recorded and move on…lol…it is not like the examiner will penalise you for any miscalculated figure.At least, I hoped that I will get 1/2 mark for it))))
@flexi said:
If the company has 100% gearing,it means it has no capital and so the WACC was going to be the cost of debt adjusted for tax only?surely this is wrong.I used the 50:50 that they used in the calculation and stated my assumption.
Am I missing something..and practically speaking,is there a company that is 100% debt financed without its own capital?
I think 100% is not the portion of Debt in total capital. I find it like. e.g: if i have Debt -40, and Equity 40, then 40/40=1, and in percentage it will be 100%.Debt is equal to Equity. therefore, E/(D+E)= 40/(40+40)= 1/2
@wankhaidir said:
operating lease is recorded the same for each year…then, the total operating lease would be 40×4 years = 160m. in capital employed, we only add back the remaining balance of future lease payment. As 40m has already being paid, the balance would be 120m in capital employed. this is what i did. don’t know whether it is correct or not.Still not clear where amount of 115 in Capital Employed comes from?
@seagoat said:
Wasnt this 100% Ratio D/E? so like 1/1 ? so its fifty fifty – this is how I understood this.WACC is based on E/(D+E) and D/(D+E), therefore, 1/2 is right.
nice to see that I am not alone in this cruel world of ACCA))))
Concentrated on Q3 and Q1, keeping in mind that the Q4 is ok…”oh, it is Porter, 30mins will be enough”. Ended up with no comments made on the first requirement, some vague points on the second part.
My EVA was around 253, however, coming home I found mistake in calculation. I have deducted marketing expense from Capital OB.
In addition, Operating lease seems weird for me: P/L it is 40, in Capital 115? Who can explain why? What i did is assume 115 was capitalized by junior, so I added 40 to 115 and divided by 4 to come up to depreciation. I feel it is not ok.
What is required on p-level is time management. Too many requirements within limited time. In addition, the requirements are so confusing, trying to mislead you- so ACCA has chance to comment again “read requirements, answer to the question”))
Anyway, I am waiting for my first fail)Thank You! In my case it is Operating Expense, which is a part of CoS. I was confused because the company increases provision liability each year, e.g:
provision
OB: 300k
Reversal PY: -50k
CY provision 150k
CB : 400KThus, I was wondering in CY should I expense 100k or 150k and increase PY RE.
Thank You for information! I was not sure, because at this point P1-3 exams are already open to be opted on myACCA page. And whenever I tick the box for registration no requirement regarding F6 comes out.
@basta said:
Hello, MCQ where really hard some of the theory ones never heard them before.Anyone remembers the answer for the MCQ the probabilty of income and the expected balance? It was like 0.7, 0.3,0.1, the last probaility the was negative.
Do you mean the question about 12k outflow and 2yrs probable inflows? I got 11,100
What was your cash flow CB? I got 992k. What about current ratio?
Question 3 part A was misleading, what were we supposed to compare? Spot and forward? or Forward and Hedging?