[Mariam]

The moment we were told to start, I first checked the section B qns to choose the ones I could deal wit and selected Qn 3 & 4 coz I felt I could do them as per the requirements.

However the different rates of inflation and working capital tricks made Qn 3 rather daunting but I did what I could and moved on.
I wonder why the examiner had to give us initial working capital of Rs800 and then telling us that it will increase by &90 for the next 3years.
I got confused but made my assumptions on how I did it..
Though I didn’t complete because if time pressure

Qn 4 was the only one I answered wit confidence at least though I hope I didn’t mess up wit basis…
I discovered the “options on futures” gave the Lowest cost compared to collar and futures.

As for the monster Q1..
Thank God part a) was there for easy marks & I believe I’ll get at least 8 out of 11

Then moved on to compute MV of target using FCF then I deducted off debt to get the equity value.
It’s the equity value that I divided by the number of shares to get the initial share price. I got smthing like 1.47 per share
For additional value created, I think I messed up but just moved on.

As for percentage gain…
For cash I just got cash price of 1.84 and compared with the initial share price of target ie (1.84/1.47)-1
For share for share….
I don’t know Wat I did coz the whole thing
of $0.33 and &0.67 confused me….
I ended up interpreting it in my own way and moved on ….

I tried computing the Value of Acquirer using FCFE to determine the whole thing of divided & it’s impact but I ended up not doing the final answer due to time as I had to ensure at least I do something on all parts of the qn. It’s upon examiner to award me for the steps I had managed to take……

But over all Q1 was a real monster

Keeping fingers crossed for a pass.

[Mariam]

OMG….

I thought March sitting would be fair compared to the Dec 16 exam but its the reverse instead

Hope the examiner has got all this feedback & makes the June exam fair for us..

[Mariam]

Congz to those who passed

Got 49%.

Anyway I know I must have messed up in Section A coz I found section-B rather fine

If only the examiner gave me that 1mark, I would be an affiliate now.
But I thank GOD I passed P1 with 63% coz it was some other monster..

June sitting here I come to clear P4..

[Mariam]

It looked to be a fair paper but too time pressured to the extent that I did not take advantage of some easy marks in Section B questions

For section A, I was confused with the whole scenario.
But just wrote as per my instincts.

I think I did lots of silly mistakes

Keeping fingers crossed for a pass.

[Mariam]

From my experience when I tried out different past papers, I discovered that the percentage bench mark that determines whether high or low is10%.
However this 10% bench mark applies between the years of analysis especially for Growth element of BCG matrix

Let me give an example,
If in 2000 you registered 9% growth and in 2005 you registered 20% growth, using BCG growth is considered to be high because from 9% to 20%, there is a difference of 11 between the years.
This fulfills the 10% and above bench mark coz 11% difference is greator than 10% benchmark

But if you registered 9% growth in 2000 and in 2005 growth is 15%, using BCG it would be regarded as low because from 9% to 15%, there is a difference of 6% between the years ie (15 – 9). So the 6% difference between the years is less than the 10% benchmark.

But for Market share element of BCG, the 10% benchmark between the years of analysis does not really matter.
If say in 2000 market share is 5% and in 2005 its 7%, you can consider it to be high depending on your judgement.

Hope this helps

[Mariam]

Got 63%
Thanks be to GOD
Coz I attempted 80% of the exam due to time pressure.
I got shocked wit the mark,

Now preparing for P1 & P4 for Dec
Then declared Affiliate

[Mariam]

Got 55%
Glory & honour to the Almighty

[Mariam]

Cant stop thinking of the results.
Praying for success in P3 & P7.

Though ACCA results are funny,
The papers you feel assured to re-sit end up showing “Pass” & those you’re assured of passing end up showing the annoying marginal marks of 47 – 49.

May GOD see us through by showing “PASS” against each paper(s) done.

AMEN..

[Mariam]

The questions varry,
However you need to have good understanding of theory because objective questions are the most tricky questions.

The revision kit just guides you on how the examiner examines but its not a guarantee that they will be the same questions in the real exam.

Just make sure that you practice all the mocks…

Good LUCK

[Mariam]

Overall the question requirements were the same as those in past-exam questions
But it was time-pressured especially section A, spotting the audit risks proved to be a challenge yet I was confident with Risk questions.

Time reached when I was nolonger thinking but writing following my instincts.

As for Qn 2(b), I didnot know what Accounting standard was relevant to adequately answer “matters to consider” requirement
I just answered the “Evidence I would expect to find” bit of it instead.

Just hoping my answers were up to the standard expected of the examiner’s question requirements.

18th July will reveal the truth.

[Mariam]

Thank you for the clarity

Cheeeers….

[Mariam]

That means SFA would not be appropriate for this particular question ….??

[Mariam]

In the December 2011 Q2 (b), a company called iCompute was reconsidering 3 high level processes
and the examiner wanted us to evaluate the Suitability of iCompute’s current approach to each of these high level processes…

Since the question required using an appropriate framework or model, would it be okay to apply SFA model and argue using the “SUITABILITY” bit of it only….??
OR
In order to use SFA, the idea chosen has to fulfil all the 3 (ie suitability, feasibility, acceptance)….??

[Mariam]

Got 60%
Thanking the good LORD for everything

[Mariam]

Mark up is a % of cost.
Therefore cost = 100%
Where as Margin is a % of sales
Therefore sales=100%

Remember
Cost + Profit = Selling price

If a question indicates Cost plus ….. Just know its Mark-up

Forexample If question says,
Cost plus 25%, this is mark-up,

Draw your imaginary table ie

Cost 100
Profit 25
Sale price 125

NOTE:
Cost + Profit = Selling price

Where as if a question says margin of 25% or profit as a percentage of sales, it refers to MARGIN

The table would be as follows

Cost 75
Profit 25
Sales price 100

However with Margin, since the selling price is already 100%, to determine the cost %, you work backwards so that Cost + Profit =100%

If you have these tables in mind, it becomes easy to use the information given in the question, slot it to the corresponding area of the table and you find the unknown.

GOOD LUCK

[Mariam]

Thank you very much for the clarity
I am confident that I’ll pass F8 no matter what.

Keeping fingers crossed for P2, it was too time-pressured

[Mariam]

Happy new year

I have just done F8 and P2 in the December 2015 sitting.
Since these papers are directly connected to P7, is it possible to sit for P7 in the June2016 sitting before finishing the Professional essentials P1 & P3 or I need to first do Professional essetials before crossing to Optionals….??

Thank you

[Mariam]

The paper was fair over all.
Its just that it was time pressured

Q1 I think I messed up with inter-company loan and may be other adjustments, but just decided to move on.
Any way provided one demonstrates the principle, accuracy is not an issue.

Q4, was fair & I pray I dealt with the numerical parts plus their accounting treatments well as per IFRS 15.

Q2, I just attempted atleast every part of the question though not adequately like I wanted to coz I was caught up by time.

Keeping my fingers crossed for the best.

[Mariam]

The exam was okay altogether ,
Though I pray that my I used the right technique required by the examining team.

With F8 you can think you answered adequately only to discover that the answering technique never matched with wat the examiner expects.

But the overall, it was not bad

[Mariam]

Passed with 61%,
Thanks open tuition for having variety of examples for practice to suppliment those in study texts.

Almighty bless Opentuition for the great work.

[Mariam]

Thank you
Feedback trully appreciated

[Mariam]

Section A seemed fair

The only straight forward questions were Qn 1 and Qn 3
Though its like I made some stupid errors with question 1.

The rest of the questions were really hard especially Qn 4 & Qn 2

Qn 5 I got 29 as the expected value for selling price which I inflated to the sales units to getting the selling price.
Hope it was the right approach.

All in all, the paper was HARD

[Mariam]

60% first attempt & I thank GOD for it.
Cheers to open tuition notes that supplimented my practice questions.

[Mariam]

54% pass on first attempt.
Thank you LORD especially after getting out of the examination room with the strange feeling that I failed the whole of Q1 of Sec.B due to failure to interprete it.

[Mariam]

MCQs were so tricky
As for Section B
Question 1 on interpretation was the hardest of all that I even failed to finish it coz I was not sure of what I was writing.

Q2 and Q3 seemed fair though the financial statements failed to balance.
But I hope the workings will play the magic

The pressure was on time coz Section B numbers seemed lengthy.

Keeping fingers crossed that Q2 & Q3 of Section B as well as MCQs will help me score 50%.

[Author]

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