Forum Replies Created
- Posts
Gosh that was hard work. I didn’t feel totally prepared going in but wasn’t expecting this level of time pressure. I really can’t see how Q1 could be done in the time.
Fortunately did Q4 and Q5 first, so hope to pick up a few marks on those.
Ran out of time on 2c which was a shame as probably easier marks than some of Q1.
My valuation for the acquisition was less than the $20 million that they had in reserves! Not good, had to make an estimate of $30 million in order to progress with the debt part. Ah well I had a stab. Hopefully will get some marks for working out the cost of equity, WACC etc.
@nightgaunt said:
can someone tell me what the model to be used for question 1(b)(ii)?
i totally dont get what the model should be (hence leaving it blank)Look at part 4b on the June 08 paper to see the model that I think we should have used:
https://www.accaglobal.com/pubs/students/acca/exams/p3/past_papers/p3_2008_jun_a.pdfI didn’t BTW but hopefully should get some marks for having a go at least.
Found that hard to get going but alright in the end I hope.
What model did people use for 1b, when it asked you to use a model to analyse the context? I used the Ms model after much consideration / panic. Not sure if it was correct but had to use something and couldn’t afford to waste any more time pondering.
I liked Q3, got quite into that one, cultural web in the first part and then Mintzberg in the second part.
I don’t think any of the tipped areas came up! Goes to show you have to learn the whole syllabus.
I thought it was OK.
Q1, pretty standard. Example of company crashing through poor corporate governance e.g. Enron type scenario. Had to write a speech to legislators, quite enjoyed that.
I chose to do Q2, which was about sustainability and environmental audit but regretted it a bit when I got to the last part, ten marks on environmental risk being operational or strategic, contradicted myself somewhat never mind.
Q3 was fine, NEDs, threats to impartiality etc pretty standard.
Just got to move onto P2 now.
I would start my drawing Mendelow’s Power / Interest matrix and a brief explanation.
Then for each stakeholder, describe where they are in the matrix and their specific interest from the scenario.
So a couple of sentences on each stakeholder roughly.
From what I have read and heard from a lecturer, they are tipping cash flow to come up as part of the 50 mark question. I spent a day on it last week, quite hard work so hope it does!
It’s difficult though as there aren’t many practise question for cash flow so have done them all now.
If you look at the pilot paper, you can see that the big question is on cash flow and there isn’t mention made of the other consolidated statements in the optional questions.
https://www.accaglobal.com/pubs/students/acca/exams/p2/past_papers/uk/p2uk_2006_dec_ppq.pdfDeontology – decisions are made based on the motive
Teleology – decisions are made based on the outcome70 on this one, better than F9 which I thought was better but got 69 on that one
I found that one hard work. Not sure I put all the right bits in the cash flow as didn’t seem to be many working out IYSWIM. Oh well just about managed to get through all the questions so fingers crossed for a pass.
For question 5, I capitalised the months were construction was taking place as well as the 2 in the middle were they paused construction. Was that right? Initially I charged those months to P&L but changed my mind at the last minute. So only charged the first month (when they hadn’t started) and last month (when they had already finished) to P&L along with the interest received, didn’t net them though.
Expected value / probability question
Write out the possibilities for period 1 three times each, then follow with the possibilities for period 2 once for each.
e.g. possibility 1 = period 1 $9000, then period 2 $3000 (can’t remember figures)
possibility 2 = period 1 $9000, then period 2 $1000, etc so you get 9 possibilities overall.
Work out the probability of each of the nine options by multiplying period 1 probability by period 2 probility (e.g. 30% * 10% = 3% overall).
Work out the outcome of each option, e.g. overall profit or loss.
Add up the probabilities for each of the 3 options that caused the account to be overdrawn.
Add up the 2 probabilities that make the overdraft more than limit.
Hope that makes sense.I thought it was OK on the whole. I was a bit surprised to see the probability question 1, but was personally very pleased as I’m a maths graduate so found these easy marks.
Some of the written parts I wasn’t that sure what they were getting at, or how the marks would be divided so erred on the side of writing too much rather than too little so may have waffled on too long on these. I felt more time pressure than expected.
Did people work out the market value of the bonds on question 3 (I think)? My gearing remained the same as I left the bonds at par value but felt that I should have tried to evaluate them in order for the gearing to change.
I had the same problem with this question, I did it last night and found the answer a bit confusing. Just hoping that it won’t come up again this time.
The answers to all past F9 papers can be found here:
https://www.accaglobal.com/students/acca/exams/f9/past_papersI just did the June 2009 paper today. I struggled with the analysis on Q4 so am going to try some more of these type of questions tomorrow.