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I didn’t use the cocoa per ton in the expected value calc.
I would of used it as part of the answer to ‘problems’ with the method but didn’t have time as rushed to next question
I thought the question asked what is balanced about the balance scorecard.
I.e. it forces a company to widen their viewpoint and consider more than just financial motivators, taking into consideration other factors that influence a companies ability to generate profit, such as using external information and non qualitative information in 4 key areas, which should all be interlinked.
Maybe something like that
Diabolical exam for me. Felt confused on what I was being asked and had major time constraints.
Defo failed, going to do P6 next time even though I have to pay for the material myself.
@tayyabom said:
Any tips for P3? 🙂I’m attempting P3 and P5 for Dec sitting. So far haven’t started studying yet.
Everyone is different but for me I just concentrated on models to make sure I knew as many as possible, just rote memorisation. I would then read example questions with a quick overview in my mind of my response. I never practised actually writing under exam conditions, don’t think its good use of time.
In the exam, I calculated the time I needed to finish each section of each question and always made sure I kept aware of the time.
I also got 56% congratulations.
So glad the statement of cash flows didn’t ruin it for me
I got 78% what the hell haha, heres hoping my last exam P5 will be a success as it builds on this
I also was unsure of the dividend.
I had a guess by assuming it was the difference in the T account.
Q1 (C) was to identify and asses the barriers to converting to an e-commerce model from the point of the view of the customer.
Q4 (a) I thought was to explain what the type of strategy was and how relevant or non-relevant these were based on the factors identified in the SWOT analysis, whilst justifying why the strategy of Existing product, New market was identified by the consultancy company as the best option
I believe it was 4 marks for professional standard. Even without the report format I would imagine that you would gain most marks if your work was structured well and flowed well.
How an earth they think that we have the time to do this though. I wonder if most people just do the To/From bit with some headings and then lose all thought process about structure as they try to gain as many marks as possible from the content required.
For Q1 I feel unsure about.
For contextual features I always feel a bit unsure, for example, the time element I found hard to relate as I couldn’t seem to see any info regarding time constraints!
Preservation was also hard as the suggested change was such a major overhaul I couldn’t think of what to preserve although just now it occured to me I should have mentioned the quality assurance team perhaps.
I also found it difficult to relate financial ratios so tried to throw numbers in with an apendix showing their current performance.
Part C of Q1 threw me a bit. I wasn’t sure if it wanted me to advise actions to take as well as identify. I started off trying to suggest solutions but in the end gave up and just stated the apparent barriers and how important they were.
My biggest fear of Q1 is that I didn’t relate it enough to the scenario.
Q4 I think was the easiest of all of them. It essentially gave you all the answers without having to think about it.
I did the decision tree Q3. I actually drew the whole thing very quickly on the blank page of the question paper, very messy and then re-did this on my paper. I did not subtract the $1.5m costs as we were provided with the contribution figure so all three results resulted in a positive with option 3 being the best. (I also did check if I subtracted this and both option 1 & 2 provided losses which to me didn’t make sense).
In limitations I questions how predictable and reliable these probabilities and figures were. I also obviously mentioned that they has used an inappropriate model for static growth as this represented the industry as a whole and not themselves. I also mentioned that option 3 had the most amount of estimation and runs the risk of being less profitable if the forementioned occupancy and contribution amounts were less than predicted, although I did not calculate any figures for this.
For sources of finance, I was unsure. I literally just mentioned all three, internal funds, debt capital and equity capital and that realistically only equity capital seemed their best option, with risks mentioned about some shareholders gaining too much power.
I feel that if I fail this exam, this is due to Q1. I had done practice on both SFP’s and cashflows but in my opinion, there are not enough practice questions dealing with cashflows (my study book had just 3 examples).
Not to mention, in my BPP study book, of the 3 questions all of them had a statement of changes in equity, when the actual exam did not.
There are so many questions on SFP’s that you can have lots of practice and feel comfortable. It doesn’t seem many students feel comfortable with cash flows, which I believe is an issue with lack of questions to practice.
Frustrating to know if I failed, it was bad luck.