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Passed and now an affiliate!!
Advice, to all those repeaters (of which I was certainly one!!):
Print off all the exam papers and solutions since Dec 2010, do one question or part of a question a day and compare your effort with suggested solution, if you don’t have time at least read a question and answer a day. Delete news and Facebook apps for a couple of months and load up PDFs of past papers onto your smart fone, read read read practice practice practice.This is how to pass! It’s not easy but it’s one sure way to get the results. Good luck and don’t worry, you’ll get there eventually
I just stopped by to read the comments, passed this paper long ago but praying for you guys
Challenging paper as usual with very little calcs. Interpretation of the question requirements will make or break most of us (nothing new there!) Praying for a pass to finally put these exams to bed.
Tough paper, primarily due to the usual time pressure. Q1 was fair but forgot to add the two additional P.I.s that were requested.
Q2 was also fair, unusually “real world” type question which I think allows an examiner to judge if a student is capable.
Then you look at the clock and realise that this is P5. The examiner is not a real world kinda guy and gives you question 3 and 4 to send you packing for Christmas in a really bad mood. Could not understand how one could justifiably contrast one “highly dubious” corporate failure model (Z Score)with one that has been made up for the exam (Q model)!!! The more I think of it the more I’m expecting the examiner to publish a solution that illustrates the examples with fictitious numbers that “good students should have come up with” to put a bit of context on the question. Scrambled for a few marks on part c to avoid corporate failure but nothing substantial. I pray that I got most, if not all of the heavy lifting in 1 and 2 otherwise it’s back to books!!! #newexaminerpls
Tricky paper massively time constrained as usual but plenty of opportunities to score points to be fair.
Q1 not bad but a lot on intangible assets which wouldn’t be strongest area.
Most of the key business risks mentioned above plus the fact they are a listed company. Always an easy point to pick up.
Was there a section on evidence expect to find in respect of New brand? There I have the usual board minutes and mgt rep on basis for useful life duration. Oh also wanted to see the sales projections for products sold under the brand.
Moved on to time and left behind 5 marks on the last part (got down the managememt threat)
Q2
Bit of a blur but felt I scored ok, the bit on contingent asset was disturbing, I discussed the likelihood that the claim would not be fully settled as the assessors have nothing to go by. Just a bit of common sense here I guess, if my car gets crashed into and I decide to burn it out I think my insurance company might challenge the extent of my claim.
Q3 – what was this again? I think it was on social and environmental kpis. Did ok on this one but just like soc & env kpis it’s a subjective area…
Was use of audit expert in here? Ah SODIT (see what I did there? 😉
Skipped Q4
Q5 was ok but the implications to the AR were tricky. In all instances T&F, one except for, one completely Unmodified and one with a other matters paragraph (closure of plant)
I need a vacation… Good luck folks