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Struggled on every section. Pretty demoralising.
First time sitting SBR, felt prepared and understood all the standards.
No questions on revenue, SBP, tax, leases, pensions, barely touched on PPE.
1st question 10 describing marks about why they were business acquirer, ugly step acquisition with goodwill and a confusing change in financial instrument etc
25 marks on segment reporting and a difficult cash flow question.
Not a chance of a pass – hoping June sitting is a broader exam.I found section A generally okay, with the odd difficult question.
Section B was a disaster for me with a tough FRA/Exchange rates question, a confusing Business Valuation scenario and a difficult working capital/payables days question – all 3 were confusing and had different scenarios to the ‘normal’ for those areas and with so many ‘choose 2 answers’ questions I really struggled.
Section C was average – I thought the EAC question was fine however the 2 wordy questions after were strange about DCF methods and why EAC should be used. I found the WACC question pretty tough as the amount of information provided I thought was minimal and the 9 mark question afterwards was super difficult – I discussed the movement in total Equity and Debt shifting the gearing etc, traditional and M&M theories but struggled with numerical examples.
All in all – hope to scrape through, but will be close