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Great, thanks a lot thats really reassuring!
Thats a really helpful point about the world class aspect thank you, so I could probably put down as the KPI ‘client satisfaction score’ and then explain as youve mentioned above how the client responds/rates to each or some of those areas, providing external validation of the companys success.
Perhaps even a trustpilot score could work too? although im not sure if trustpilot necessarily equates to world class, but its still a form of external validation. What do you think?
thats fair enough, thank you for your response really appreciate it as always!
Sorry another question, could i confirm that if the deposit reinvestment rate is not mentioned in the question you can assume its the same rate as the cost of capital? (I asked AI)
Thank you, my cash flows align with the markscheme after some time I realised it was in the wrong column, thanks for confirming.
I learnt from a youtube video (steve willis) that rather than typing out each discount factor you could do this formula:
=NPV(cost of capital, cell range of free cash flows*)
*I think this excludes year 0 with the initial investment
By following this I get =32.60
Deduct the initial investment of 25 I land on 7.60
Are you able to help me figure out what ive done wrong please?
I am at the point where I should probably stop sweating these 2 marks as Im got most of the question right but if you could potentially help me out i’d really appreciate it! Spent so long looking at it and feeling defeated!
Sorry just to add I keep getting 7.60 for my final answer rather than 6.95
I imagine this throws off my MIRR answer of 20%…
genuinely dont understand what im doing wrong 🙁
thats a good point, for some reason I assumed the question would explicity say give a conclusion. Thanks very much, I will keep an eye out for if the questions is specifcally asking for advice
Hi Ken, my tutor strongly advised that if conclusions are not asked for then not to bother because of time constraints.
Will we lose marks if we dont include conclusions? Appreciate its a professional paper and a report without a conclusion even if not asked does not seem like a real life situation.
thank you so much Kim I really appreciate the detail you provide this is really helpful and reassuring, thanks again!
For example, if the procedure is to review the draft financial statement and confirm the provision has been recorded in line with IFRS.
Does that need to be developed further to confirm the assertion? This answer is what was also taught in the revision lectures by opentuition.
thank you, so the assertion tested must always be explicity stated for each procedure? There have been a few past papers where the answers dont do so so just want to check if its always required?
thank you for the response and additional insight it is really useful.
Perhaps I am taking this too far and overcomplicating things but if I am doing a substantive procedure for trade receivables…
Reviewing Board minutes to assess if there are any discussions regarding a significant customer in dispute….
Would this therefore not be a substantive procedure as the answer to that is simply a yes or no? so its just a TOC