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Not overly difficult, bit suprised at the lack of models required from own initiative. Found Q1 a bit long though, didn’t get to delve too deeply into any points because there were so many things to mention. Q2 and Q3 were OK…… hopefully., it felt that way anyway then again it was a lot of common sense kind of analysis.
@sarahacca (i) you had to work out the six ratios that were given in the question for the next year end (based on figures given in Q) and Part (ii) you had to ‘unconsolidate’ sort of Shaw from Woodbank? or whatever it was called and recalculate the first four of the ratios, then compare and comment on the financial position. Most were similar, but gearing had increased dramatically and gone from 5.Something% to 35 or 36% ecause of the acquisition of Shaw. For a 15 mark discussion question there really wasn’t all that much you could say about it, given that we had no real info on either entity. Really odd 15 marker.
“I wonder what we’d have to say to get 15 mark when the ratio result where not really that different without Shaw.”
This. The only thing worth discussing was gearing, but 15 marks? Meh, I had to repeat myself on the others that there was no major differences except if I remember correctly Gross Profit Margin for Shaw was relatively high, but made no major impact on group GPM.
Format threw me a bit at the beginning, was expecting to get stuck into the Cash Flow straight away. Only got to answer questions 2,3,4 and 5. Was expecting to get through them quicker and then focus on 1, but got bogged down. Relatively easy paper content-wise, but, for me anyway, very time pressured. I’m guessing it’s a fail, I was so suprised by the later questions that I am sure I lost out on some easy marks, then rushed through Question 2. Bah. F7 is my nemesis.
I don’t know of any job sites for Germany specifically recruiting ACCA members. Germany has an enormous body of company law and GAAP so the vast majority of those in the accounting professions (Steuerberater, Wirtschaftsprüfer usw.) have come up through the German system and exam structure. ACCA is unfortunately largely unheard of outside of the Big4 and even then I was told at an interview I could get a job, but would be expected to start as a Day 1 trainee and requalify in a German specialisation (which requires near fluent German), or do the conversion exams when fully ACCA qualified (same German language requirement). You do see some job advertisements accepting applications from CPA though, but few and far between. Why woud they take an ACCA when they have a large pool of people who have trained for the best part of 10 years to qualify as a Wirtschaftsprüfer?
I have heard of some German qualified accountants doing ACCA though, just as a top-up qualification for the CV and as a sort of English language certification.
Only got Q1, Q4 and Q5 attempted completely, plus Q3 part 1. Never even got near Q2, Q1 SOFP didn’t balance, Q5 was ok but a lot of waffle, Q4 part (a) didnt refer specifically to CGU’s in discussing impairment.but again a lot of waffle there. Q3 (a) Cash Flow didn’t work out I was pretty sure on the cash flow of Q1 SOFP it was only something minor I was overlooking that I should spot and before I knew it time was running short. Overall difficult enough, although nothing really shocking. Time was the major problem for me. First time doing an ACCA paper and that’s the major lesson for me. I need to speed up. Expect to fail but hopefully not disgracefully.
