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Passed with 83% and now affiliate

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Passed with 85%. Did not expect that high

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Passed AAA with 83% first attempt

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Passed INT paper with 83%. Very happy, was expecting to fail. Congratulations all

[jgacca]

Sat the exam today. It was a hard exam, but with enough study (including current issues and thorough knowledge of conceptual framework) it was answerable to some extent.

Current issues featured heavily and without prior reading on these it would have been hard to score well.

I studied with Kaplan and felt quite prepared beforehand, but still found the exam tough.

Questions:

Q1 – indirect method of cash flows and discussion. Discussion on change in group structure. Discussion of held for sale criteria and discontinued operations.
In my opinion, this was an ok question but didn’t really follow the format of specimen exams and past paper that had much more workings required.

Q2 – accounting and ethical issues.
I found this question the easiest of the paper. The director should have measured as a finance lease not investment property – the revaluation gains recognised would have improved gearing and misled investors.

Q3/4 – i can’t remember what questions were what but her is what I remember that came up:

Deferred tax 12+2 prof marks (investor perspective)
Discussion on inventory net realisable value
Management commentary discussion (current issue)
Discussion on how to account for a joint arrangement and subsequently a business combination.

There was far too much discussion in the paper. Kaplan exam kits balanced questions with mixture of numbers/extracts and discussion but this had barely any figures.

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