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Pass 77%, first attempt. 1 left to go!
Congrats to all who passed and for those who didn’t, keep going!!!
BPP Text and Revision Kit, Open Tuition Lectures, Self-Study 2-3hrs per evening. Get used to theories and then questions, questions, questions…..
….and remember, if you are asked to evaluate the performance management system, evaluate the system not the performance.
Good luck.
Passed 58%. The end is in sight. SBR and SBL left.
Congrats to all that passed and keep going those who were unlucky.
@Sheelagh
Don’t give up. This is a very challenging paper. I have just passed on my 4th attempt, at 45% it is purely exam technique. The only advice I can offer is exam practice, exam practice, exam practice and answer everything. The time pressure is your biggest enemy in this paper, the more experience you have of answering questions within time the better.
Good luck.
Hi John,
I was just searching for the answer to the OP’s first question. It is Q1 from the June 2009 exam.
Thanks and sorry for reviving an old post.
Chrisbilalahmadahmad
I receive my results by email and text, the text usually comes about 5 mins before the email and I normally have them by 12.40 am. I think it depends on your surname, I think they may do it alphabetically.
Good luck 🙂
+1
Hi again Izzy,
Just had a look at my study text cos something didn’t seem quite right with what I told you. It seems the adjusted net income would include the occupational contribution and the personal contribution needs to grossed up to 6,250 (5,000 x 1.25) meaning the adjusted net income would be 28,750. The basic rate band would be extended by the gross payment of 6,250, but not by the 5,000 occupational contribution as this has already reduced the net taxable income and so received tax relief.
Sorry if I’ve confused you further
Chris
Hi Izzy,
It’s been a while since I sat tax but if I remember correctly it all depends whether the contributions are made gross or net of tax. The personal contribution will definitely have been made net of tax and so will be used to compute adjusted net income. It is the occupational contribution that would depend on how the employer operated their payroll. If the contribution was made before PAYE was operated (net pay arrangement) then tax relief has already been claimed and the amount would already not be included as taxable income, so no adjustment is needed.
Hope this helps.
Chris
Hi Trebleo,
OK thanks I’ll give that a try. I might speak to the company I volunteer for to see if there is anything else I can get involved with, like VAT returns and maybe setting a budget try and broaden my experience that way, to be honest it was hard enough to find someone to volunteer for.
OK so if my understanding is correct:
Y=ax^b
Avg time for 100 units = 10 x 100^-0.321928095 = 2.2706
Total time for 100 units = 100 x 2.2706 = 227.06Avg time for 101 units = 10 x 101^-0.321928095 = 2.2634
Total time for 101 units = 101 x 2.2634 = 226.34: Time for 101st and all subsequent units = 227.06 – 226.34 = 0.72 minutes or 43.2 seconds
Hope that’s right.
Hi Aleem,
I was just worried about having too much academic qualification without any practical experience. I was told this might be the case ie I would be overlooked for entry level positions but not have enough experience to justify a higher pay grade. Is that the case? I was going the leave applying for jobs until I had completed the fundamental stage until I was told it might work against me.
Remember this is double entry, the balancing figure is $175,535 CR which results in a balance b/d on the opposite side ie a DR entry.
Hope this helps
Multiple Choice:
1. C
2. C
3. C
4. A
5. A
6. B
7. D
8. A
9. A
10.C
11.A
12.AQuestion 6, I thought was material, not pervasive as isolated.
Thought the paper was fair, couple of tricky issues and not much on audit opinion. Hopefully I did enough for a pass.
Best of luck to you all.
Hi all,
I had a lot more D answers to mcq than most of you which I did think was strange.
Overall the exam was fair although I agree it may as well been a substantive procedure exam, which is a key syllabus element, but I would have expected to see more on audit opinion, final report and reports to management.
I had Receivables as material not pervasive – qualified with an emphasis of matter paragraph. Inventory as material and pervasive – disclaimer
Messed up on Q2 part a and Q5 part b, but hopefully did enough to pass.
Good luck everyone for August 1st
@gianina said:
I have added some additional figures per above.
I did not impair the GW since the question asked for the GW at aquisition…i hope.. *with the rush of finishing everything i probably forgot what my name was if you would have asked me during the exam :|*Yeah it was def goodwill at acquisition. I can’t remember much else but I remember the goodwill – it was the last point in the exam I felt confident!!
stato82
I got somewhere around 13,000,000. Can’t remember exactly, was too busy panicking about the rest of the exam.
Question2 could anyone prepare the ROCE ratio for 2014. There was no figure for the current liabilities of the division they disposed of. Thought you would be able to arrive at it by subtracting from 2015 figures but that would not have been accurate anyway so left it and said it could not be calculated.
Think I may have scraped a pass but will be lucky if I do!
How did everyone else do?
Hi Eszter,
Mock Exam 2 Question 3, they have taken Question 2 December 2013 and added a share issue of 4,000,000 and a dividend payment of 2,000,000 which leaves your equity and liabilities 2,000,000 in excess of the assets. Their arithmetic doesn’t add up but they haven’t bothered to correct (retained earnings 19,800 + 11,970 = 29,670 supposedly).
Absolutely ridiculous. Wastes our time and affects confidence.
Hope you get on okay. Good luck for the exam.
Chris
Yes, Southstar had 14,300,000 retained earnings at acquisition and had a 4,600,000 x 6/12 loss for the first six months of the year which would need to be removed from retained earnings to establish goodwill on acquisition..
Are you finding that this revision kit is very poorly constructed?
Answers are up on ACCA website
shirley87,
I couldn’t recognise the term either, but I think the fourth option was Damages and in the section for Breach of contract and remedies in my BPP text there is the “market price rule” meaning that the measure of damages for breaches of contract is usually made in relation to the market price of the goods.