[David]

I shouldn’t say this, but I had practically no time to prepare!
I spent time on YouTube, and a little time readying poorly written books, and of course past papers!
No clue how I got the 66%. Done with the F’s, on to the P’s

[David]

I was thinking about this exam again…there was one MCQ in which I’m sure there was a mistake… It included a current ratio and a quick ratio for two years, but the quick ratio was larger than the current ratio.

(Unless the exam had me hallucinating!)

Is that even possible?

CR = CA:CL
QR = CA-stock:CL

So surely CR > QR by definition???

[David]

Hi John,

After looking at your recommended answers, I’m feeling better… I think I may have done quite well in this exam!

Thanks again!

[David]

So here’s am getting worried at all of these comments!

Then I realised…everyone takes a different exam…

We have property tax, profits tax and salaries tax in Hong Kong…no vat, no inheritance tax…easy peezy!!

Hopefully I did well in the actual exam…

Anyone else wrote F6 (HKG)?

[David]

Hi Shameem,

Just my 2c worth (and I know this is the wrong forum, Mike…)

MyACCA generally takes a few days to update the CBE exam results. For my F1, F2 and F3, this generally took 2 days or so, but with you writing so close to result release, this may be delayed.

As long as you have the printout of your results which you should have got from the CBE Centre, you should be fine. give it a few more days, and it should process. If not, then contact the ACCA for clarification on how to push it through.

David

[David]

Hey Marian,

OpenTuition is an excellent resource. There are many students who get by with only the resources here (which are free, to answer the other questions).

I am personally studying with a study-buddy, and I am using OpenTuition as well as a published book.

David

[David]

Strictly speaking, we should probably accrue interest expense too, but without any information on the interest rates, we cannot do that.

Current Liability (Short term portion of Long Term Loan): $10000
Long Term Liability (Long Term Loan): $20000

If we know that the loan has a 10% pa interest rate, we could do the following:

Current Liability (Short term portion of Long Term Loan): $10000
Accrued Expenses (include Interest expense): $750
Long Term Liability (Long Term Loan): $20000

And the statement of financial performance should include $750 interest expense.

[David]

I’d call this a bad question, as the term “accrual” implies something that is still owing. Accrues expenses would actually mean that we have an expense which is unpaid, therefore increasing the expense, and rising a liability. On the other hand, accrued income would increase the income account (let’s say something like a non-operating income), as well as an asset (essentially a debtor), therefore increasing profit.

Therefore B is always FALSE, as it increases income. B might be true (if “accrual is read as accrued income) or false (if an expense)

(I find some question banks are far too ambiguous)

A & B are read as opposites, although they can be read as identical.

[David]

Supplies is not the same as inventory for resale.

Supplies may be inventory for other purposes, for example, we may have maintenance spares as supplies, consumable supplies (oil, etc for machinery), strictly speaking, stationary could also be supplies.

If we are carrying a significant amount of consumable supplies as stock, they should be recorded as an asset. So in this case, supplies have not been sold, they have been used up.

Hope this helps.

[David]

Hi Roni,

I also plan to write F4 in December (although I am going to write CBE). I think in the first instance, you should be spending as much time with the notes and the lectures as you can. Make sure you understand the concepts of law.

Which variant are you taking? If you are taking UK (or any country’s specific law), you will need to know cases that are relevant to your option.

David

[David]

Hey Nikki,

Just found this too…

https://www.iassessserver.com/accaq.html

F4 has been added to the sample CBE tests

[David]

🙂 glad it helped you!

[David]

Hi Nikki,

Thanks for the luck! 85% for F1! Hahaha

There is a specimen CBE available from the ACCA website. The MtQ are just like the others…

Which edition of the BPP materials are you looking at? I have the latest BPP I teractive text, and I do not see any long questions there…

David

[David]

Hi Nikki,

From my reading of the acca website, F4, both written and CbE, are changing significantly, and section B now consists of 6 MTQ’s, just line f1-3.

I plan on sitting F4 CBE in December. In fact, I have completed my F2, I’m writing F1 in 30 mins, and F3 in a month. So these are my 4 exams this session.

I’m also seeing rumours that ACCA is considering 4 exam session per year, which may accelerate the journey.

David

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