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52% First Attempt and ACCA Affiliate. 71% and 75% in P7 and P3 respectively

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75% First Attempt

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Having practiced the past papers i believe this was a good easy paper.

First Question as always structured a planning email reply on an Audit but luckily a Consolidation where there is a lot more points to write which we learn general risks in Consolidation.

there were no complicated standards involved as easy as finding out that an acquisiting would be 11 months and Disposal 8 months.
Foreign exchange, component auditors, significant component and materiality easy calculations.

Second Question Due diligence could be a bit harsh but it has previously come in exams and was v similar to normal Audit.

Although i messed up the second part analysing only the half of question with loads pages and didnt realise to state obvious given scenario points in answer. But yet well answered.

Easy Question 3 of Section B where easy standards and risks.. Going concern, IAS37 Provisions, legal laws governement.., IAS36 impairment.

I must state there were no difficult standards like Construction Contracts, Deferred Tax, Financial Instruments at all in the paper which have all arrived very frequently in past papers.

Question 4 was ethics i had a good practice on it as we can write so much general on it whether it is right ot wrong in a logical flow manner. Howveer, going concern being my favourite part i went to do 4th question.

Going Concern Question was a typical of past papers where knowing the opinion should be the key. Circumstances were very much clearly stated and just had to take a logical flow and state opinions.

Although being my first attempt, i feel having a good practice on past papers shouldnt be a disspointment.

[Fizza]

Question 1 can be considered as the easiest among the other three. Lots of KPIs and commenting and forming evaluation staying in time and format. Just hope to get a good 30 + then can expect to Pass.
Last part i calculated as taking the profits as calculated in first part and bringing to future value of 2 years once with 4 % and 15 %. Then calculating the gap as the difference and stating tht second plan is closer and strategies can be applied to close the Gap

Second question was also okay with a easy structured model Performance Pyramid could write enough to gain good marks. and with explaining the three terms and relating to scenario which was clearly given. Although in myopio and gaming, i think i have switched the scenario stories.

Third Question was worst with i dont know what i have written in each part just trying to relate my knowledge with scenario and forming some answers.
a) Going through scenario stated problems and resolutions with some management acc terms.
b) Stated what lean accounting is and then evaluated (goods and bads) whether this RFID would result in leaner or not.
Tried putting rewards, budgeting, consultationg general points in last part of this question.

Question 4 on the first sight didnt like it (didnt do this one)

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Question 1 (a) A decent evaluation on the 3 aspects asked and link back to scenario. Good 14-15 marks can score for well prepared candidate

1(b) Approach was given, had to do it logically taking each aspect, using ratios a bit, scenario linking, adv and disadv general and the portfolio manager etc concept application. 4 marks report format and can gain good marks of 22

(c) Porters Diamond mainly theory should be 6-7 marks and linkage should get rest of the marks.

2 really bad had no idea, just skipped and went to the 4th Question first

4 (a) 4 aspects given can write a few points under each and apply to scenario

(b) seemed a bit general connecting to that person’s comment and evaluation his ideas

Came to Question 3 with half hour left

(a) Didnt understand wht exactly to write but just going through the scenario suggested some raw simple suggestions and gave reason why thought so and a little but cost and revenue ups and downs calculation in the answer

(b) started writing generally about some suggestions and realied it was specifically asking for ‘marketing strategies’ when 3-4 minutes were left.. couldnt really complete and last 10 marks were mess.

In Total it was very important to keep on track of the time. Taking 3 extra booklets i made sure i write most but in time.
Completed Question 1 in 1 hour 45 mints which means 1 hour 15 mins left for last 2 questions of which last one had only 30 mins with the reading time.

All the Best to everyone Around.

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