[Jayadev]

P5 paper is simpler than P4, have cleared both….

[Jayadev]

P5 paper is simpler than P4 in my opinion. My tutor used to say that students fail in p5 because they don’t think and write. In p5 more emphasis is on theory part… Right?

I wrote P5 in last December and scored 41, then in March scored 46, now passed with 51 marks in June session. Let me tell u the question they asked in December session about budgeting was expanded to a major portion of 50 marks question in June 2017 exam. It’s in our syllabus. And the evaluation of performance report was a major component of 50 marks question in December session and they repeated the same “evaluate perf report” in March session.

I could predict that for June session would contain questions from quality because they had asked Kaizen and target costing in March. Usually students have a tendency to skip a question that was asked in the last sitting….instead I focused on quality and other areas which came for the exam. Helped me to clear the exam.

I think for the next p5 u can brush up….. Business structure (especially complex), div perf measure, again evaluation of perfe report and risk (maximax etc)

I Wholeheartedly thank God Almighty for helping me clear the Paper P5. ?

I feel the peace now….. Those who are in despair please pray to God…God knows all our need…. We are his creation and he knows us Better than anyone else.

[Jayadev]

Hi,
Do u remember the marks allocation for Q2? It had 3 sub questions..

Jayadev

[Jayadev]

Do anyone remember the question number for mcq that asked share holder total return??

Ques 2?

[Jayadev]

Hi, u got positive npv???

[Jayadev]

Yea i know, if u adopt my method we get same answer….

Depreciation is just used to find taxable profits rather than adding tax savings on depreciation

[Jayadev]

They had given forcasted selling price and its making cost (variable cost) for 3 models of cars and their associated probabilities. Multiplying each car type’s contribution x their probabilities and adding the three totals give u . EV of contribution per motorcar

Multiply contribution per unit x no of motor cars sold from 1 to year 4, less fixed cost (as per the production range) to get the total cash flows for each year.

Depreciation per year is 4mn÷10, reduce 400,000 from each cash flows found above, to get taxable profits. Taxable profits x tax rate gives u tax payment in each year it occurs.

Prepare investment appraisal table, year 0 outflow of 4mn, pre tax cashflows, tax, post tax cash flows, discount factor, and PV. Fill the table from workings, I got Positive NPV

For the (b) part, they are gonna sell (450 units x contribution per motor car, say C from year 5 to year 10 (similar to selling from year 1 to 6)

C X annuity factor from 1 to 6 years, give u the discounted amount at year 0 (i.e year start of year 4) = C1

C1 X PV factor for 1 to 4 years = value of PV at year 0

Add C1 to previously found NPV, since its positive project npv accept it.

This is What I think, we should do!! Im ssorry if its wrong,

[Jayadev]

Passed the paper F8 in first attempt – 73%

[Jayadev]

Yea, the first mcq was very confusing……auditor has a right to attend gm, and a duty to form an opinion…..

Mentioned in explicit duties of an auditor

So i chose the option “attend gm only”

[Jayadev]

When a tax payer has made any gift aid donations or personal pension contribution it affects two areas..
1. Basic income limit of 31,865 gets extended by the grossed amount of Gad or Ppc
2. The income limits for personal allowances for all age groups gets extended by grossed amount of gad or ppc.

In order to calculate personal allowance, you can follow either of 2 methods

1. Adjust net income method…

ANI = total income – gross amount of gad or ppc
If ANI exceeds 100,000 ….1 pounds gets reduced from pa for every 2 exceeded…..
Rest you know…

2. Extending income limit…

Income limit for personal allowance is 100,000 suppose I paid gross gad of 10000
So income limit is 110000
As the limit exceeds 100000, for every 2 pounds exceeded 1 pound gets reduced from pa amount.
Rest you know…

In order to calculate you needn’t always extend income limit as mentioned in step 1. But for computation of income tax liability you have to extend 31,865

Anyone can make a contribution to Ppc, contribution to employers occupation pension fund can only be made by an employee working under employer. This contribution is reduced from your salary to arrive at employment income

[Jayadev]

@owusujoseph40 said:
Passed F6 with 88marks and F8 with 62marks.
Thanks to God and Open Tuition, your revision notes are incredible.

Hi Joseph….what is your F6 variant?

[Jayadev]

Hi Joseph….what is your f6 variant?

[Jayadev]

Indexation allowance can never create or increase loss

[Author]

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