[daianara]

Passed with 51%. This was my last exam, applied for membership. 😀

[daianara]

Passed using only Open Tuition to study. Although the main question was something I did not practice, I managed to get enough points in the other questions to secure a pass. Only one option paper left!

[daianara]

Do they have a year end at 30 November? This is not mentioned in the question. If their year end is 30 November and the fall in value happened afterwards it is not an adjusting event. However I think it’s more relevant for this question that they do not use the revaluation model. Same effect, different reason.

[daianara]

Oh, I think I got it. It’s because they are using the revaluation model, not the cost model.

[daianara]

I would say it’s because you do not use the revaluation model but, as the example states, the cost model is used. So you are not impacted by the decrease in market value.

[daianara]

Third attempt, passed with 62 marks. Hooray! And just in time to not lose my P1 pass due to the exams merging next year.

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