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Passed, 61! All the money spent, the tears shed and the frustrating days have FINALLY been paid off. I am an ACCA affiliate too now 🙂 It takes strength to keep going when one fails an exam, session after session, but quitting is not an option. ACCA does open doors to good jobs and almost a guaranteed career. Certainly it is up to each individual how to use what achieved but to those who are still climbing the ladder to complete the ACCA qualification, do go ahead. It is certainly going to be worth it!!
Opentuition team, thank you for the support you gave me during these tough five years. When I found this website which offered so many tips for FREE I thought it was too good to be true. Instead it was a fantastic revelation. Wish you all the very bestGuys, how do you manage to get such a high score?? I failed P4 for the third time and failed P6 too but I passed P3 with only 53% even though I expected to achieve 75%. I attended colleges, revision courses and studied so hard but still it was not enough. Why?? I am v sad today and I feel for all those students that they think they put 100% and still not get there. It must be only a matter of time. We cannot give up.
Strategic planning process is simply the three stages planning model suggested by JSW: strategic analysis/position, strategic choice and strategy into action.
Hello
After failing P3 in December, let me tell you how I think this session was. I read many past P3 papers and can admit that this one was a very fair paper.
Q1 asked for what it needed the failing strategic planning project described in the scenario to succeed, with some reference to the software implementation that the CEO wanted in place- 18 marks that could be achieved. I personally developed my answer around SMART. The following question offered another 18 marks for analysis of the current culture and organisation structure and how, if it was assessed before laying down the strategic plan described in the scenario, it woul have helped the CEO to achieve the strategy. 4 marks for presentations and 10 mars for strategies lenses.
Q2 – Porter’s 5 forces -15 marks. Very sweet the examiner. The other part asked for …. Ops, I don’t remember anymore.
Q3 – harmon’s matrix – again, the examiner was very nice this time. 15 marks for three business processes to assess plus suggestion on action. Last bit, 10 marks, CMR. How its implementation could help the company in terms of acquisition and retention of customers.I felt totally lost last time. I argued that it was complex and very lengthy. I don’t think there was any trick this time but in December, the paper was much harder, I just hated it.
I hope this helps!
Good luck you all!
BBMy tutor said to us:”99.99% you will have the assessment of a project based in a different country (i.e calculate exchange rates from inflation percentages) + option and futures on Interest rates + Free cash flows question. If the 50marks scenario will not be what expected, please come and see me!” – Shall I go and see him now or I shall wait for the results? Well, I give him a chance… and I hope all my angels do help me to pass this exam with the mainly narrative side fully completed. Q1 was tough, no doubt about that.
Good luck you all!
P2 June 2012
I think it was a fair exam…. I have dealt with much worse exercises during my handmade revision stage.
Q1 a nice balance sheet with two subs, the second one becoming sub half way. There was a PPI revalued first and impaired the year later, some trade receivables being franchised to a bank and some adjustment to a joint venture participation. What else? the sale of a FA bought back immediately after year end (i.e not a real sale then). No goodwill impairment, no PUP, just some FVA. All pretty easy. Part B focused on the de recognition of a financial asset (i.e trade receivables) and discussion of the sale of the land to cover up some liquidity troubles.
Part B Q4 was about provision and contingencies – recognition and measurement and and the other was… God, my brain is going blank!! I am too exhausted, sigh!
Q2Treatments for Employ benefits, share payments…
Again no much about deferred tax apart from Q3 which indeed I found quite challenging and skipped almost immediately. No cash flow as hoped either but no foreign currency sub either as afraid.
I expect to see a higher pass rate in this session. In my hall there were a lot of students who looked around and who I think gave up before starting. I have sat a couple of exams two or three times (such as F7 and F8) not really because I did not the answers but because I was too scared to READ it!! my best advice: do your best, write as much as you know and do the calculations that you know as far as you can because even a simple sum across a group can earn marks!!
Good luck you all!!
Barbarabbegio@gmail.com 🙂 Thanks!!