[husnain]

hey, i dont think its difficult to self study for p7. just go through the text while understanding concepts and then move on to the revision kit and the past papers.. there are good articles in the Student accountant for guidance regarding attempting exam questions.. u can also make use of the examiner reports for guidance.. wish u all the best 🙂

[husnain]

As wande pointed out, maybe u should try and score more marks out of the available professional marks.. there are always professional marks available in writing a report/letter for the layout, its content style, etc… so u can work on that..

@mikky_uk said:
How much do you score for only writting part of the name of a standard, i.e. writting IAS 36 – Impairement instead of IAS 36 Impairement of assets?

I have failed the P7 twice in my last two december sittings getting 48 and 47% and trying to figure out where i could get (or might have lost) the few percentages?

[husnain]

and u will always consider first whether u have to sell the currency or buy it.. then accordingly also taking into account the currency of contract in the question..u will then decide whether to buy futures first or sell them.. if u buy them first then obviously u will sell them later on, whereas if u sell them first then obviously u will have to buy them later on
hope that helps 😉

[husnain]

@pattrick said:
Thanks for your reply. I have a further query. Do we actually buy and sell at the spot as well as the future? When we have to sell the future we buy the currency at spot… I understand this BUT when we buy the future do we actually have to sell the currency at spot? If this sounds a bit of a stupid question apologies but getting a bit mixed with all these terms re Foreign Exchange and Interest Rates! Thanks.

hey, sorry for the late reply .. well u sure are confused :p
whenever u will buy/sell the currency.. u will do so at the spot market.. it dosent has anything to with whether u buy the futures or sell the futures.. remember that u enter into the futures market SEPERATELY (i.e buy/sell futures).. its just like shares trading.. where suppose u first buy shares then sell them at a later date so u can make profit.. like in forward contracts.. suppose when u buy a forward contract then the rate is fixed according to the terms of the forward contract.. u have to execute ur contract.. but in futures., u dont enter into the futures contract to execute it,, u always close ur position.. e.g sell futures at a later date if u have bought them before.. this ensures that u dont have to execute ur original contract.. so since u dont have any obligation left now to execute the future contract.. so u buy/sell the currency at the spot market

[husnain]

@pattrick hey sorry i dont have the question.. but i can try and help u out 😉
look, u enter into a futures transaction.. e.g in case of currency, lets suppose u have a payment in 3 months time so u will now buy futures now so that u can sell futures after 3 months close ur position.. now when u will have to make the payment after 3 months u will buy the currency from the spot market.. so if the exchange rates would have moved adversely during this 3 month period, u will be making a loss on the spot market.. and to offset this loss, u entered into a futures transaction, so u will be making some profit from the futures market… now the extent to which the profit from the futures market can offset the loss from the spot market is the hedge efficiency i.e how efficient u were in hedging ur loss 🙂

[husnain]

@kpersaud said:
Is there a copy of all f4 cases that i can print out

well i dnt think there is any such copy, until and unless someone has made a list on his/her own and is willing to share 😉
by the way u dont really need to memorise all of the cases.. just abt 20-25 will do the trick.. and while reading from the book/ solving the revision kit, u can note down the cases and also note down the topic they relate to so that u know where to fit them in ur answer.. this way u wlll have ur own list and it will also help u to memorise the cases faster 🙂

[husnain]

well i havent tried it, nor do i know anyone who has…. but i just checked the link that u have posted, and i really dont think its worth it.. i mean it just has tips on how u should approach the paper and thats no rocket science ;).. i think that after passing all other papers of ACCA now u are at a point where u understand which approach works the best for u.
so my advice will be to keep it simple, just the text, kit, past papers and examiner reports for those past papers and u should be fine.. or u might also want to check out the SA articles, especially those on exam techniques 🙂
there are enough tips on how to answer the questions in the revision kit and the examiner reports and the exam techniques articles 🙂
so remember… keep it simple… dont study hard.. study smartly 😉

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