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Hi guys,
Well done those who have passed and further congratulations to those who have completed the journey to affiliate/ member.
I seen in another thread posters were able to state how many affiliates etc were passed on in Sept 2021
How are we able to get this information?I am in Ireland would be interested to know how many affiliates were passed out from the December sitting.
Anyone know?Thanks!
In that footballer question, there was a line at the end which said something like:
“Interest costs are currently 5%. This may help with your solution”The presence of interest rates, indicated to me that PV discounting was necessary which of course would be a PV liability for a lease I thought.
I’m doubting an aspect of the crypto question now.
Can anyone remember the specifics of the part about $1m from early investors and then 9m more from ICO.
There was some percentage share going on somewhere? Anyone recall the specifics?
ThanksParticipants will have the opportunity to give feedback now as the emails requesting feedback from ACCA will be out soon.
I do think they heed the feedback, at least I hope they.
Leaving aside the unusual and confusing nature of the questions, a big issue for me was the time available to attempt 100 marks while also trying to untangle a riddle which is not at all realistic in any employment situation.I’m delighted it’s not just me that felt the exam seemed more a test of your.mental stamina and time management than a test on your understanding of financial reporting principles.
I said it earlier and I’ll say it again. The fact that they needed a diagram in two of the questions to help you interpret what was going on in such bizarre and complicated scenarios says a lot. They really should not have signed off so many twisty scenarios making it into one exam paper.Actually that question about paying the directors of the crypto company in 5000 crypto tokens if they stayed for 2 years with the company. At the end of the 2 years, the tokens could be swapped for a car capped at 50k dollars.
The question said explain why this is not a share based payment but instead is an employee benefit. I would have initially thought it was SBP so I was glad they pointed out it wasn’t but then I was looking at it wondering, why exactly is it employee benefits lol.
I know ACCA use past papers to educate future students so that question is going to be released soon in a practice kit and an explanation will accompany it but for now, do any experts know why the tokens (to be swapped for a car) I’d benefits and not sbp?
I elaborated that the tokens only have a value because the car is attached to them whereas shares have an equity stake and external value attached (of which crypto tokens are not)
Anyone?
I never comment after exams to criticise the efforts of the team setting them but I thought it was extremely disappointing to see that question on the forestry company and whether the bank relationship with the supplier was a debt or payable I think it was. They even had to provide a diagram for it such was the absolutely unnecessary complexity of the situation. That was just downright disappointing. Everything else was fair and square difficult and I concede that but they really should take note of such ridiculous scenarios and not put them into the exam.
Anyone else get that part of the question and can comment on the specifics?
I wasted 15 mins reading it and writing it out to interpret it before I realised it was likely a time trap hurdle. Then became angry and distracted which is not what ACCA should be setting out to do to participants.Again the majority of it was fair and square difficult but that left a bad taste.
I was very close to attempting the M&M Kie forumla on the S company as I was aware of the asset beta problem of Liyu. However, when I couldn’t see their Kd, I scrapped it and decided I was wasting too much time on it and instead just plugged the Liyu asset beta in to the capm formula to get an ungeared Ke and went with that.
Hope they give on or two marks out of the 6 for using capm and going with KeA few wobblers thrown in to Asrania question to slow things down.
The initial investment in l&b and p&m was split over two periods. 60pc time 0 and balance prior to yr2.
It mentioned that some materials were provided through USD by our parent company and that there was a contribution of 30$ on “some” of these. Didn’t quite understand that myself.Tax was delayed a year ( I think) and there was a tax treaty between the two countries. 20pc in Asrania and 35pc in US.
Anyway the while thing started to get out of control toward the latter parts of the appraisal and as I said, unrealistic with no time to consider the work that you were putting together.
Sat the AFM today. Had the paper with APV in Q1, acquisition in q2 and currency hedging in Q3.
Couldn’t get to all parts. There wasn’t enough time.
Q1 was mired with time traps.
They really have to sort out the time issues associated with the papers.
I left about 10 to 15 marks unattempted due to time constraints. That’s not ideal when a student knows the content but hasn’t the time to express that suitably. I know ACCA intend to replicate real world environment with CBE spreadsheets and wordpad etc but the time pressure is unrealistic and leads to poor presentation and rushed information and that isn’t a fair reflection for a lot of the effort students put in.
