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Q1. Performance Report of materials supplier company, currently suffering from financial gearing, major supplier (50%) based 8,000 km away: Requirements: Assess current PR is Linked to mission/objectives? Advise new performance measures, Benefits of using EBITDA, disadvantages of ROI, factors to be accounted for JIT.
Q2. Banking service- ABC (6marks)- ABM (14marks).
Q3. Insurance company (partly online and over phone) Benefits of competitor benchmarking as per scenario focus: strategic not operational- based on Morden IT tech. Chatbot-AI-Internet ; Achieve Staff well-being
1. BSC-Report, KPIs
2. Environmental Quality cost, EMA
3. Performance pyramid, KPI, Reward systemAnother question was on remittance basis – explanation on disadvantages and why not available once the recipient becomes UK deemed domicile through 15 yrs of UK resi in last 20 yrs..
Q1. Incorporation relief or BADR can be elected. Incorporation relief claim will help to defer gain to satisfy cash flow merit. BADR will also available in future, if those shares are disposed by Lucia.
There was no other consideration except share, thus gain amount needs to be deduct from share amount to determine base cost.
B) loss of ceased sole trading business will be carried forward and will be adjusted with Lucia’s own future income instead of (new company’s) LRA’s profit. There were no need to adjust the loss with previous years profit (I did that, and will not get any mark!)Lucia’s Personal income after tax: salary 70k+ X as dividend(LRA’s T profit- 70K (salary)-class 1 NIC LESS CT @19%=X) less b/f loss of previous business less 12500 = YYY (IT lib @20%)
Post tax income: 70k + dividend less income tax @20%= Zzz [post tax income.]
Additionally, LRA can not avail £4000 Class 1 NIC relief as previous employees have exceed the 100,000 limit in last year.
C) CGT on Furnished Holiday let was eligible for BADR 10%. Proceeds less original cost not probet value(due to gift heldover relief) condition met 2 years combined holding period in last 6 years held by Lucia and her mother.
Other questions were on
Conflict of interest – husband and ex wife- ethics
Integrity and professional competence and due care issue – falsify of information by previous advisor-ethicsIHT- mix of death estate – I did consider UK farm, cash, other assets as donee’s aunt was not UK resident and not UK domiciled, further donee was UK resident but not UK domiciled. Thus, UK iht only applied as location basis. Further, APR on UK farm was not considered as the land was let out only for 2 yrs instead of 7 yrs.
VAT: capital goods scheme, vat on new building impact, vat impact of import item from overseas.
Explanation on R&D allowance for small business 130% (65% of sub-contract) on revenue exp and 100% on capital expenditures.
PRR etc can’t remember more….
I did mess altogether, no hope this time…making mind for sept sitting.
Questions were very very tricky and time pressured. No group at all!!!
All the best to all
Pls. do the survey if you think that the questions set was not upto the standard pattern. At least we can register our words what we have felt yesterday.
Dear StudentWe’d really like to hear your feedback on the exams you took at the December 2018 session. It’s part of our quality assurance process before we start marking and helps us make sure that our exams are fair and a reasonable test of your knowledge.
The survey takes around 20 minutes. Your feedback is for our information only and we promise that your responses will be treated anonymously.
Hope you all got the email, please do the survey when you get time.
Thanks
The SBR exam paper was not for students. It was bit of research works on Conceptual Framework, IASB’s EDs and Financial Reporting Standard. I felt it was for experienced financial reporting experts not for me :-(.
Anyhow, it was an opening of new question pattern for professional exam. I never met any of this kind of question set before in BPP, past exam papers etc.
No way to pass this time, what I wrote therein.
1. Cash flow: Did adjustment in operating expenses, calculated WC movement and drawn final balance.
2. Explained few silly points on each of the workings.
3. Ethics: Mentioned IAS40 can be used as lease to ensure rental earnings. But measurement of FV was not currect as non financial asset can be measured as their ‘highest and best use. Mentioned ethical issues but not at my satisfaction level-what I could write.
4. On DT only mentioned several definitions like tax computation, TAX base, DTaxLib, Temp Tax lib. Tried to say something on scenario.In exam condition to attend such horrific set of questions was put myself down and frustrated. Now become confused about my ongoing preparation for this and other professional exams!
I’m not sure why I failed 2nd time. My exam was ok and expecting 54-57. Surprisingly I got 43! Now it’s become really daunting to prepare for SBL!!! Sad to loose P1.
A big slap on my face…….Congratulation to all successful students.
Hi Meena, hope u will get marks. Marker may deduct 1/2 marks for the mistake. But u will not be penalised much. After all it’s the last sitting……….we hv tried our level best. Hopefully marker will not be so tough in marking our paper!
We can only hope! Good luck!
Strength: 1. World wide customer base.
2. Good CRM n funders/banks
3. Proper utilisation of fund resources n strong lease disbursement policy. In $800m disburse $800m.
4. Increased in lease funding in private n non-profit sector.Weakness: 1. Flexible payment of lease policy.
2. Customer credit check n lack of intermidiary (assumpted)Opportunity: 1. Government funding the university sector (public sector).
2. Infrastructure development lease funding.
3. Non profit sector lease finding.Threats: 1. Car manufacturing-self financing.
2. Government imposing tax n declaring premium rate activities.3. Government intends to put restrictions over lending.
Just to ensure I used correct model: pls. confirm:
Q.1 a. SWOT
b. TOWS
c. SFAQ.4.a. FIVE forces
b. Acquisition Advantages n Disadvantages.Q. 2. a. Software package implementation: ITT, First phase, second phase, requirements etc.
b. In house VS bespoke advantage n Disadvantages.
1. Weakness I mentioned the flexible lease payment policy is high risk in this ever changing world economic condition. Further mentioned customer credit check needs to be focused (not sure about what to mention, just wrote out of scenario!!!).
The paper was highly tricky! There were so many chances to put candidates in confusion. Some of the questions were drafted in very tricky structure. This was my 3rd attempt. Done as much as I could to get 50.
Let see……how it will be marked. Wish u all the best.
1. SOPL-OCI with foreign subs, deferred tax, Asso-Subs, pension, revaluation of ppe.
B. IFRS 8-operating segment
C. Ethics-Intragroup transaction and sale of holding equity interest.2. Segregation n recognition of Joint venture n arrangement.
B. IFRS 9-financial asset, expected credit loss allowanceothers: IAS 16, Cash generating unit, etc.
Secured 63% in 2nd attempt, just got double of 1st sitting. Feeling relaxed as finished all F papers. Many thanks to OT. Congrats n best wishes.
Remember, exam entry for the September 2015 session opens to all students on 6 July 2015 and is open until 10 August. The Syllabus and Study Guides for exams from September 2015 are already available on the website, but here is a summary of how the exams that will be offered in the September 2015 session are affected by the syllabus updates:
F5, Performance Management
No changes
F6 (UK), TaxationNo changes
F7 Financial ReportingTwo areas of the syllabus will be examined under new accounting standards:
IFRS 9, Financial Instruments, and
IFRS 15, Revenue from Contracts
with CustomersF8, Audit and Assurance
No changesPls go through the following link:
https://www.accaglobal.com/gb/en/student/sa/news/sept15-exams.html
Passed F7 in 1st attempt with 56% n F9 with 60%. Feeling blessed n happy.
Congrats n best wishes to other student members.
Finally heartiest thanks to opentuition for their support n guidance.Passed F7 in 1st attempt with 56% n F9 with 60%. Feeling blessed n happy.
Congrats n best wishes to other student members.
Finally heartiest thanks to opentuition for their support n guidance.I got 11 right!!! Rest 28 depends on Part B…….. Hopefully will get 50-55!!! Still scaring last time expected 55 but got 45!!! :-(……………………Lets hope for the best 🙂
I sat for f7 n f9. In both exams I faced same kind of MCQs!
Earlier exam style was good. To me pass mark will highly depend on no. of correct MCQs. Don’t know what will happen!!!!!!!!Not happy with F7 sitting! Questions were very tricky and made me confuse after doing MCQs first.
Don’t know how it will be judged! Really in this paper pass mark is totally depend on MCQs.Passed with 50% on first attempt!!! Feeling Happy :)……………..Thanks OT for their unconditional support!!!
I got 48 in F6……………………….only for 2 marks again I have to prepare myself with new tax rates……no bother……..but got pass marks in F5 🙂 thanks OT for their unconditional helps.
Congrats all who got pass result n best wishes for rest in coming exam. Thanks a lot to OT for their enormous support!!! Keep it up.
I got my SMS result as “Session December 2013. F5 Pass 50%,F6 Fail 48%.”
50:50!!! This was my first attempt n initial sitting for ACCA exam with 2 months preparation. I m not down!!! I will sit for F6, F8 n F9 in coming June n give my best to secure pass marks in all three. Wish me for June exam. Thanks again to OT……
