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Hi This is my last exam and never waiting for a result before. I chose the text message option. Does it mean I will get my result at 00:00 ?
Nervous, anxious, excited, everything will contribute a sleepless night!
Hi everyone,
I found Q1 was really wordy, it gives me lots of clues while reading it. I thought too much about it and don’t know what the question asked about! especially part a
so I did part b & c those are straightforward.
q2. It was not easy because without numbers in them, I feel it hard to describe it. I did not perform well.
q3 I am confused about the first question. It seems Alley Ltd who sell the building to Begel Ltd in 1.5.2010? before Begel join the group with Lob Ltd and Tree ltd. and then when Begel join the group 30.09.16, Alley no long belongs to Lob group. I might misreading this. I was expecting this is a no gain no loss transfer. Any one has a comment on this? glad this is 3 marks. b& c & d seems alright. I think one of them is PE loss relief need to take account DTR.
q5 (just read about it before the exam! phew! )
Then I get back to Q1 and in the last half an hour. I figure out this is as simple as sole trade VS employment income.
One thing I learnt from this exam is I need to encourage myself all the way through even though I don’t understand the question. I performed badly at the beginning, but never lose faith that I will pass. and try to complete as much as I can.
This is my last exam, really wish I can pass it. Good luck everyone.
Hi Palmy,
Thanks for your reply. As not sure about it. I went to a different classroom based tuition in DMU.
Sorry Mike, I was a bit of rash on the wording in my question. Please answer the question again, as I don’t think you answered the question what I asked unclearly!
So the circumstance is the component was audited by a component auditor, I am doing the group audit. I found the component audit report is qualified except a provision is not provided (materialto both group and subsidiary ‘asset and profit.) And after communication with sub manager, and group manager and CWG, they won’t adjust the component’s financial statement.
So I decide to adjust the consolidated FS, the question is when I express my opinion, on the consolidated FS is free from material misstatement, and should I say it is TRue and fair view with EMphasis matter paragraph refer the adjustment?
Or should I give a qualified opinion except for “component’s material misstatement” the FStatments are show true and fair value?
it is fine, I spotted on every question, i think. Only my hands was almost cramped at the end of the exam!
ah, I use the same way, I don’t think it should be just simply using before-tax cost of debt times 70%
I use 8 as interest in t1-t6 and DF 7% to calc the MV, and then use the MV to go into the IRR calcs.
@harripool said:
Yes, you will have calculated pre tax cashflows, used the DF and arrived at PV and then got an NPV. There are usually marks for all thatI wasn’t very sure on every of my calculations.
who can tell me the question in the factors?I don’t think it difficult. as I got 20 min left after finishing all the questions. I had a check with the calculations. I was expecting some big marks on analysis on performance….. not much marks, as you can see. I am expecting the results.
