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Passed with 63%! I did not answer 21 marks worth of Q1 due to poor time management so I am genuinely amazed. AFM in Dec then I’m done.
Thanks John. Your explanation makes perfect sense after a nice sleep. I will just use the normal ‘deduct and then add back’ method should it arise as that is what I am comfortable with.
Hi John,
Just doing some reading of old exam questions as final prep for Friday. I am just curious (and bear in mind it is 10pm and I am a tiny bit brain fried so may be missing something obvious), but why is the TAD not added back after the tax liability is calculated?
Many thanks,
RossI thought the questions were fairly easy considering I had the syllabus down after so much revision. But then managing the time available and getting all the information into succinct yet appropriate answers is always quite tricky on these types of exams. I spent 2 hours on Q1 (as I did for P1 after promising myself I wouldn’t!) and whilst I managed to finish Q2 & Q3, I didn’t do much of the 10 mark part on Q1.
Fingers crossed though, I do think I managed to get a lot of the syllabus in and related it to the questions. After P1 and P3 in succession, I need a calculation based exam!
I got 52% which I’m really shocked at as I didn’t answer a 10 mark question at all, and only had 4 weeks to study the whole subject due to a bout of pneumonia. I’m very happy indeed, so thanks OpenTuition!!
It was going well until I got to Q3, which I had left to last. Then I had a major mind-blank out of nowhere and completely forgot how to do a money-market hedge and about the types of exchange rate risks. So now my best hope is to get 50 marks out of 90. I don’t get it, I revised it so much, but then just completely flaked out on the question!
I come out of my Contingent Liabilities lecture video on Open Tuition, then I click on Google and enter “list of important accounting standards for F7 paper”, and Google’s top response leads me back here. Open Tuition is the bomb and is saving me packets of cash. I love this place and all who maintain, donate, comment and use it.
