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@xamii said:
Exactly
I lost all marks in audit risk which is my fav area in complete paperLol….Yes question one was my favorite question dealing with business and audit risk…..all that changed yesterday!!!
I agree would have been better off leaving question 1 for last….that was my intention but then didn’t want to leave it for last and then ran out of time lol… Missed out completely on the borrowing costs…..and struggled so much for a 4th point for MM…….settled for the inventory theft….but I dont think it was Significant!!!
The exam on a whole was as expected no surprise….but time pressure…. no matter how much you practice and find techniques this don’t stand to the exams….question one was messed up….only on doing the other questions could I think of the correct answers……For the amount of things that is required to be written there are too many things to analyse…..Just thinking of how to answer the questions 1 & 2 was enough to throw off the stamina for the exam. I didn’t even make use of the figures presented……i was just concentrating on trying to do some in each question before the time ran out………to read and analyse the question one alone is already half of the time allocated for the entire questions. During the mock exams did well in question 1’s but for this exams the Accounting standards used were….not my favorite, Question 2 I can barely remember what it was……Question 5 I think you did have to mention about KAM or EOM but I just mentioned whether or not it was correct and the impact on the audit……….
Exam was not so terrible….except for question 2. However i hoped for cashflow as well coz it is the easiest of all the consolidation but…somehow lost focus with this huge paragraphs. So unfortunately with having to read and reread those long paragraphs i was unable to do much in this section…..
ACCA are understandably making the questions harder given things change but making the questions LONGER for the same period of time is just cruel. Yes you take time to disect the question and plan yoyr answers….but by the this is done the time has ran out and no time for writing……… So the average person either freeze seeing the length of the question, read slow, write slow, or just falls straight into writing trying to beat the clock all of which is detrimental to a pass or a fail.
I attempted question 3 first coz i could have done 2 out of the 3 though with the pressure of time the professionsl points is out the window plus alot of the information disappears from your mind.
Question 2 I read twice and though i got the gist of the topics covered I am yet to understand the scenario. I tried question 4 coz i remembered something about leasing and ifrs 16 but completely blanked out when i came to write about the new proposal which means there was no way i could have done part B lol or continue with Part Ai.
All in all paper was passable but the horrendous paragraphs, amount of information to gather and grasp as well as put down on paper after gathering and completing ones thought….impact grately on ones ability during exam which is in no way a true reflection on ones ability.
Alot of people are exam experts but in real life thats a different kettle of fish…
This was my first attempt and I went in their with a mind set of just gaining the exam experience. Though I was still hoping to get the boderline 50 I am also wont be surprised that there will be a September sitting for me.
ACCA seems to be just concerned with making money……..and the markers well.. .
Fingers crossed and best of luck to all.