[drice99]

Hi where could I find the solution to example 2, is it in the notes?

[drice99]

Just realised I forgot to squeeze this into any of the answers

“present value of future receipts discounted at the investors required rate of return”

🙁 🙁 🙁

Can’t be a good sign!

[drice99]

Thank you John

[drice99]

@nishapereira said:
I worked out my mcqs in the 15 minute reading time. It takes 2 min to fill it out after the reading time is done.
Then go for the easiest 20 mark, easiest 10 mark, and then finish as much of the questions I know of to gain marks whever possible

Interesting you would do the easiest 10 mark in priority to the other 20 mark, makes sense I suppose start with the two questions you can get the most marks from to ensure you do well in them. I am still sick the question I would have done best on q6 I left tll last

[drice99]

How do ye remember the a b c d for the Mcqs do ye swipe the exam paper out of the exam Hall? Mine always gets taken off me?

[drice99]

The time pressure in this is ridiculous. 6 questions, q4 the question about the audit risks and responses took me AGES. It nearly killed me!! If I only I bothered doing a mock I would have copped to do questions 5 and 6 first 🙁

Basically if you don’t do 5 and 6 first you are dead!!

Well not entirely but I reckon doing them in the wrong order cost me 15 marks minimum

[drice99]

@ehsanshah said:
isn’t management suppose to do that??? except for obtaining instructions

Yes the auditor observes and checks, enquires and does test counts,the client does the actual counting, organising and labelling

[drice99]

What did ye do to the opinion in question 6 at the end? I modified it qualified.. Except for.. I didnt think it was pervasive?

[drice99]

Sounds like you nailed the rest of the options 😉

[drice99]

There was understanding entity, the technology company, it was a new client so permanent audit file not an option… I said I would contact the old auditor.

Going concern was asses reasonableness of cash flow estimates, examine board minutes etc etc

[drice99]

Stupidly spent more time on the 10 mark questions than the 20 ones. Had 13 minutes to do question 6.Ridiuclous. Still probably passed but I didn’t make it easy for myself .
Mcqs maybe 14 marks on lowside
10 mark Qs maybe 25 marks on low side
20 mark Qs maybe 16 marks on low side
Overall maybe 55 at least

[drice99]

As it happens if I wanted to answer parts (iii) and (iv) I would need your table 😉

[drice99]

Ah great 🙂

[drice99]

Phew thanks!

[drice99]

Thanks got it! 🙂

Po = 20*(1.0675^2)*(1.0675)/(0.14375-0.0675)=319.75

[drice99]

Ok thanks, I will keep an eye out for it 😉

[drice99]

Phew cheers 🙂

[drice99]

I did and rewatched it, you did explain it, I just am having trouble with it. Will do a good bit of practice and am sure it will click, cheers.

[drice99]

I don’t really get it (yet) but I think if I go by the rule last day of a tax year (specifically should be a lease or buy) = next year, ie time 1 and 1st day of a tax year = time 2 I should be ok when in both cases there is aa one year delay in tax ? Plan is I will do enough sample questions to see this rule stands strong

Cheers

Hugh

[drice99]

Thanks John

[drice99]

@chris1975z said:
I suspect the marking scheme was very specific and 40% is either right or wrong with no question. I think it will be interesting when global marks are published by ACCA to see % pass rate! It seems the whole world passed the F6 paper so I hope they don’t up the difficulty for the dec 15 sitting!!

Do you mean f7?

[drice99]

This paper appears to have been marked fairly hard, most people getting slightly lower mark than expected

[drice99]

Does anyone else suspect they marked this kind of soft? It was such a hard paper compared to previous sittings, they felt bad and wanted to make up for it 😉

[drice99]

67% thought I did better but will take it 🙂

[drice99]

69%.made up thought I was early 50s mark.

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