[Michael]

Was hard, yes I had the 18k loss question. I only thought of two options, CY then carry back or carry back only

[Michael]

Results for A & B would be amazing, maybe given in 7 days?

That would give you a good idea of your likelihood of passing or not, or you may have passed it from marks in A & B if you aced it.

[Michael]

I had the part C 15 month missing question to. I completely messed it up as was in a rush. I think we should have had two chargeable accounting periods. One for the first 12 months and one for the 3 months I think. the rent deposit was that payable or receivable? I think I did it wrong and calculated it as a payment. Also I didn’t time apportion properly. I’m hoping a strong part A & B makes up for my failing in part C

Did anyone have the part C question on the husband and wife considering going into a partnership? The first question was only 5 marks but was very time consuming, anyone find that? I found that the partnership saved tax as it made use of the wife’s full personal allowance.

[Michael]

@unfazed said:
I finished section a and b in less than an hour and was still struggling for time for the two CRs, does anyone know how the paper is marked? i heard from someone that every section needs to be passed, and they take weighted average of the three sections, is there any truth in this? i didnt fare that well in the second CR and im just hoping that its not the reason for a fail score

I don’t think that’s true

[Michael]

The exam was actually better than past exam questions. Section A & B not too bad. I has to rush the last Q and probably only got 6 or 7 marks there.

What did people calc as the tax charge to SPL in the first question in part C? I took the tax estimate, then deducted the CT overprovision, then deducted the difference between the DT balance on the TB, with the required DT (as this was lower).

Also did people get the loss on disposal of the plant as 472k? Did they add this to COS?

[Michael]

Hi that’s perfect, I’ve just send you a private message

[Michael]

Yes looking to do question practice on weekends from now on, and the two days before the exam, as I have them off as study leave

[Michael]

Don’t give up if you failed, I past on my third attempt with 54%. This was my first time using Open Tuition, thanks to Mr Moffat for his great lectures.

[Author]

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