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Passed with 71% at the first attempt. Very pleasantly surprised as this was a tough paper with the examiner throwing in lots of subtle tricks to throw candidates off-track. I used the Kaplan revision kit combined with the excellent lectures Chris from OT provided – @P2-D2 thank you so much.
I think the key is practicing as many exam style questions to time from the outset of the study period and ensuring you know the IAS/IFRS. Read the SBR technical articles on the ACCA website, you might not think it at the time but they really enhance underlying principles and consolidate knowledge.
Well-done to all that passed and for those that didn’t, your day is only a good study period away – keep going!
Passed with 57. Thank you to @KenGarrett and Open Tuition as a whole for your excellent insight and resources.
Does anyone recall the mark allocation per question? I know Q1 was 10 and 10 and Q5 was 6 and 6. Thanks.
Failed SBL with 48. Was confident of getting the pass. A painful blow. Already deep into AFM for March but now I don’t know what to do!
Passed with 55% after thinking I had blew it on section C. Credit to Sir Mike and Open Tuition.
Passed with 63%. Thank you to the legend that is Sir John Moffat. We are blessed to have you. For those that didn’t pass this time do not be discouraged, you’re only 7 weeks away from passing.
Sir, thank you so much for your support and encouragement, I have passed with 63%. This paper has been my achilles heel!
I will set up a small monthly donation as a thank you for your excellent teachings. Bring on June!
All the best.
Yeah I multiplied original spot by 1+ counter inflation/1+ base ($) inflation^2
Yes I went with economic and transaction as the question stated that no balance would be due (i.e. payable balance) at year end so eliminated translation risk.
I adjusted for inflation on contribution and f.costs for nominal and got 6.2m. I think as there were tax saving inflows each year of 1.25m because of the 5m per year depreciation. For the real rate, I messed up and did not remove the inflation from contribution and f.costs so gutted about that.
I think my WACC was 7%
You would apply a different discount rate to the calculated net cash flows, in this case the nominal costs of capital was 10% and the real rate was 6%.
Section C was ok, can’t remeber my WACC for 31 but 32 I had NPV of 6+m for nominal capital and 10+m for real cost with the machine paid for in year one and 5m per year depreciation, tax saved of 1.25m. Section A was ok but by the time I got around to section B I had was a bit stale and I forget how tio calculate the value of the 6 & 8% loan notes. Also, the two hedging questions that needed calculating my mind was blank.
I think I used g=bre to get growth of 9% and then used the DVM, dividing 80+g by the value of the share plus g to get 28%
The MCQ about Fisher formula, I picked the answer that was something like it deals with different exchange rates and changing interest rates……
That was wise by you. I worked through it in order and barely finished it cause of the MCQs. Oh well!
