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110% it was ROMM and not Audit Risk. I messed up materiality calc for rev as I did 0.05 instead of 0.005. But apparently that’s only 1 mark lost! Good luck to us all.
Not to worry about! You get more marks for the writing than the numbers on SBR anyway.
I said to treat it as a prepayment over the 2 years as well! After the exam I was thinking I messed that question up!
Considering how big the topics are at SBR and that tutors keep telling us to learn a bit of everything, not a lot actually came up for me apart from a tiny bit of consolidation (mainly NCI calcs), revenue, APM, ethics, intangibles. That’s it I think…
Goodluck to everyone! 🙂
The good will calculation. The P’s investment (80%) was $2.10 x 8m= $16.8 then the NCI was $2.10 x 2m= $4.2 (FV) then taking off the NA at $20 gave a goodwill of $1m…No?
Did anyone get the question asking what the treatment was of the 2 year software Contract? The question said it wasn’t a lease or Intangiable, so what was it?
I got this too. Just tried to write whatever I could remember about the positives and negatives of NPV and IRR
Hi Jean,
You did so well on your ACCA F5 result! Congratulations 🙂
I’m attempting the F5 exam in Dec, is there any tips you can provide me with? This will be my 2nd attempt having rec’d 40 on the paper version. I will be doing the CBE this time around.
Many thanks,
JTips for those that unfortunately failed.
*If you scored a mark between 42%-49% it could be related to your exam technique rather than exam knowledge.
I passed second time thankfully. First time around I got 46% and realised afterwards that I spent too much time on certain questions and I didn’t spend enough time on the MCQ’s. This time around, I changed my approach and started off with the MCQ’s making sure I didn’t go over the allocated time of 72 minutes (I actually finished these within 45 mins). Then I tackled the big 30 mark question and so on. Make sure you attempt every question and remember all you need is to get half of the marks.
So, just keep practicing questions on consolidation, single entity SOFP/SOPL/SOCIE and the various standards and DO NOT IGNORE RATIO’S!
And most of all be positive and don’t give up! 🙂Passed! Alhumdulliah! So happy to pass this on my second attempt! 51! 🙂 Thanks OT
Hi,
The £2,600 is the Revenue.
The Profit from this revenue = 30/130 x £2,600 = £600 (@ mark up of 30%)
Now deduct this £600 from the revenue figure to get to the Cost figure of £2000.Hope this helps.
JCPassed 53%!! Such a relief! Thanks Open Tuition for all your help! Alhumdullilah
@jayedchoudhury@hotmail.com said:
I thought it was B too. Because amendments and checks are allowed within 12 months of the submission of the self-assessment tax return.Actually on second thoughts, I think this is wrong. Guess we’ll find out when OT submits its suggested answers.
@gawcram said:
Q 9 I think its BI thought it was B too. Because amendments and checks are allowed within 12 months of the submission of the self-assessment tax return.
Kolkleen..you’re right. The question (corporation 5 or 6 can’t remember) didnt ask us to go as far as to calculate the tax payable, only the tax adjusted trading loss.
Did the F6 UK exam today. Multiple choice questions were okay, finished them quite quickly.
Question 5 and 6 were pretty straightforward surprisingly but noticed when I got home that lease costs I used 20% instead of 15% darn it!! But that’s only 1/2 marks lost, never mind!
Question 1 IHT was okay, so was the trading loss question. But the capital gains tax question, don’t think I did well at all, mind went blank in regards to the share disposals. If something came up on part disposals of land or chattels, I would have aced this part!
Think the VAT question went okay and like others I found that the flat rate gave a higher vat payable figure than the normal way.Hopefully, we all did enough to pass IA. Bring on 01/08/2015!!
Good luck fellow ACCA students! 🙂
