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Gwen, yes i stated that Broadway should have been held for sale as per IFRS 5 during the year. I went on more about the lack of disclosure though which in hindsight was not really the issue in the current year accounts.
What was question 3 and question 5?
I can’t remember them but I did do them both. I remember the end of 5 but nothing else!I would go with the shortest text possible and start practicing questions. P7 is all about answering the question actually set. You will build up your knowledge further as you answer.
Ahtasham, I agree. I knew lots on risk management, apv, Eva, bsop and none of it came up. Even the fx question was really strange, so I’m gutted really
Yes I felt the same. The quality control point threw me. I just hope I wrote enough on the IMF bit for q5
Did anyone else calculate the forward rate on Q2 using parity theory. Also I found the option part hard because there was no contract size given if i remember right. What did people use for this to calculate premium?
Did anyone else notice that the financial controller and senior exec team had left the firm in Q1 to pursue a recyclable business opportunity? I went on about the remaining board not developing strategies to keep them competitive and this could give rise to going concern risk, given the other issues in the scenario
Time difficult for me too. Had to move on without completion of all four questions
He means the single currency. I.e there will be no union to support the euro and everyone will revert back to their original denominated currency
What caused it, what made it worse, where are we now, how have we responded to the crisis to date and what potential solutions are there to solve it. I feel if you know the answer to all the above you can answer a question on it
Hi,
Basis is the difference between libor and futures price (so yes)
Basis risk is that basis does not fall to that which is forecast for contracts ended before the expiry date. Further, basis always falls to zero if futures run their full term, however this may not happen linearaly and contracts ended early, run the risk of the unused basis not equalling that which was predicted (I.e linear)So yes I think your assumptions are correct. Hopefully John can confirm
Hi muhaimin,
Thanks for your response but if I look up 0.45 I get 0.1736?
I’m confused. Am I not using the table correctly?
Thank you John. I have not watched that particular lecture. Will do so, but thanks for your explanation anyway, very much appreciated.
I’d say minimum of £35k in the Northwest of England, not sure what your cost of living is like in the South East. But as you say it is a small firm so their budget is likely small.
Hope this helps
Go through the lectures on here taking notes, then start analysing past exam papers (Questions & answers) then make a first attempt on each question already reviewed. If happy with attempt, move on to next exam question. If not happy attempt the question for a second time and repeat this process until you are happy with attempt.
Hope this helps
p3 learn your models, practice exam questions. It’s all about application. No real need to study text books as such, once you know your models
p2 Practice the consolidation process to high heaven with all it’s variables, then learn as much of you accounting standards as possible. If your great at the consolidation you can pick up low marks elsewhere (so long as you have good syllabus coverage) and still pass
Hope this helps