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@sarahb1985 said:
Most time pressured exam I have taken! 6 pages Written for question one.. took up half the exam time! Qu one and two ok.. the options questions I feel my answers were weaker..! Chose 4 and 5.Agreed. I do not remember how many pages i wrote for question 1 but i do remember that i filled 20 pages for the whole p7 paper. I chose question 3 and 5. I also found qn 2 abit tricky.
@davebell50 said:
to be honest the exam wasn’t that bad, there was no cashflow statement, no financial instruments which are always difficult.It’s not always about the numbers but the application on generally sticking them in the right place.
I failed December because i didnt do enough revision which was my fault and if i fail this one then i’d have no one to blame but myself.
Now on to P3 to try and pass that before the exams change in September and my P1 one gets cancelled and i have to do the Strategic Business Leader exam instead.
Good luck everyone</blockquote
P3 is a good paper but you just gotta take interest in the paperand you’re good to go.
If you could attempt p2, p3 is a piece of cake.
Best of luck for your p3 exam@nazir91 said:
Ok So it was my first sitting in the professional exams for me i though the paper was fair except the sneaky bits in q1 which were the held for sale subsidairy where you had to apply ifrs 5 q1 i had an impairmentassets are not depreciated for q3
3. Was it incorrect to take an average of the expected operating profit for the revenue question rather than the most porbable outcome?
cant remember that q maybe was q2 i didnt do it4. What did you say about the exchange rate question? Should he use the bank or the goverbment rate? And is he allowed to use the average exchange rate for p/l.
based on ifrs 21 that would have been the govenrment rate
5. Dis ur geaeing also only go up by 0.08% due to change of new lease policy??
didnt do q2I had never focused on theory bit of IAS 21 but i tried using logic from the knowledge i had discussed a few things. Not sure if i’m right but hoping to score a few marks here and there. Something is better than nothing right?
@mapae said:
I feel terrible! Can any one advise I could survive?
For no. 1, I didn’t balance and other went well except for held for sale, forgot to add the closing pension in liabilities, unwinding of discount in joint operations.
For no. 2a, I don’t know of foreign currency exchange.
For no.2b, I wrongly wrote of IAS 8 for change of depreciation policy as restrospective error. Others are okay i think.
For no.2c, I wote of financial asset and held for sale with business model changes.
For no.3a, I don’t know how to treat revenue so I just write 5step models
For no.3b, I wrote fair value and apply case
For no.3c, I just calculate PV of lease payment and added to the value of liability and calculate gearing ratio and did not give any comment.Any ideas?
Do not worry about the csofp not balancing, there are no marks there. Marks are awarded on the workings. Even if you made a mistake in a working, you cant be penalised for the same mistake twice are they carry forward the error. so as long as you showed workings, you’ll get marks for it.
In regards to the ias 21 question it was a very different question, one that has not been tested before so as long as you wrote your points, you’ll get a few marks.(i feel examiners might be lenient with their marking on this question)
I see you feel you’ve made alot of mistakes but do not worry, we all have! You’ll always get a mark here and there and hopefully we might all pass.
So relax and wait for the results in april.
Good luck!gearing did increase because the debt increased. You might only lose a few marks for not calculating so do not worry.
Best of luck@soni23 said:
Correct answer?Yup, neither are correct.
@vivianchow said:
Anyone know how to explain the relationship of Wacc and capital structure? I’m stuck for that question and try to relate the beta measurement which needed in wacc… I dunno exactly what am I writing LOLHey, we had to write about the traditional theory, mm(with and without tax), market imperfection. To be on the safe side i also wrote about the pecking order theory, bankruptcy costs and agency costs.