[msarosh]

barbadoshk wrote:I noted the finance director had no experience or that none was given, but then never used it anywhere in the answers?

Same, had no idea how to work that point in to my answers

[msarosh]

Chris777 wrote:The PESTEL analysis was already done for us and all info was there and applicable to various questions throughout the exam.

I referenced to the PESTEL analysis in pretty much every question. May have repeated myself a few times

[msarosh]

kenttan4320 wrote:Anyone has also find the financial & operations performance question weird whereas the F/S for 20X1 & 20X2 has such a small difference?

Yes there wasnt much of a difference. I mentioned the ratios were expected to change once the payroll expenses have been adjusted as they were understated. Dunno how great of a point that was but felt that it would be a matter of discussion in the board meeting.

[msarosh]

I had:
1a) evaluation of financial and operational performance
b) evaluation of the proposed strategies; market penetration, diversification
2) risks for the diversification strategy
3) response to auditors management letter that highlighted 3 issues
4) development of marketing and sales strategy
5) changes to the organisational structure

Felt the exam was too straightforward for a strategic paper as they had given the results of the PESTEL analysis, and slides with info on marketing mix which was handy. Couldn’t really write much for the risk question. Not sure if my answers were enough for a pass, i think they werent up to the level of SBL. Anyway, it could always be much worse than this i guess

[msarosh]

@ak2401 said:
I didnt see a salary either confused now maybe we missed it!

I re-read the question many times to make sure i didnt miss the salary so im sure they didnt give it. Didnt we need to know the salary for the next question for POAs?

[msarosh]

Moon got salary and his share of the profit. Luna got her share of profit and the property income. Forgot to deduct the rent a room allowance :/

[msarosh]

@faze50 said:
Oh sorry I thought you meant the last question on the paper! For the income tax liability, I just used the trading profit figure from part a and then added the salary (employment income) and also property income and deducted it from the personal allowance but this was o for me as it was above 121200. The last part I put the dates as 31 Jan and 31 July and the payment was half of the income tax liability in Jan and half in September. Don’t think it was right though.

Wasnt that the last question? I guess i got them mixed up, sorry.

What was Lunas salary? I dont think they mentioned it in the question? ‘Cause they mentioned she was employed until the day before the partnership started and tax was deducted through the PAYE system but the amount wasnt mentioned

[msarosh]

The second last was about Lunas income tax and last one was for POAs

[msarosh]

What was the answer for the last and second last question for 33 in Section C?

[msarosh]

@heychi said:
This was another one I confused myself on ha.

I ended up choosing B which i think was that the PET unused, then April and April.

I remember just getting confused in general with PET and CLT. I thought I was pretty solid on IHT so I’m not sure if it was exam pressure.I know CLT uses up the lifetime allowance straight away, but the PET only uses it up if the donor dies within 7 years right? or does it use it up straight away and then WHEN 7 years have passed the limit is increased back again? There was one question to choose between 105,000 and 55,000 of the lifetime allowance available.

I got confused with that question too ’cause those gifts were from before 7 years. I picked one of the options that had the PET unused, i think it was C, cant remember.

For the other question i picked 105000

[msarosh]

What were your answers for the second and third questions for IHT from Section B? And the question about interest payable for second payment and indexed cost from Section A?

[msarosh]

I couldnt get the taper relief either. It had been between 4-5 years (i think) since the death but no matter what percentage i used, my answer didnt match the options :/

I calculated the tax for Hamish with income tax and NICs and then just income tax for Hamish and Ivy.

The two insurance fees were for whole years, and rent for quarters, so i split them up according to the months.

IHT questions were confusing. And i kinda messed up the last Section C question but i hope i did enough to pass

[msarosh]

@frag said:
How did that happen?

Dunno, i got the email at 11:04 last time

[msarosh]

I got my result an hour earlier for September exams. I hope its early this time too

[msarosh]

@leannenhe said:
Hello, anyone remember the question about the amount of customer list that should be included in consolidated financial statements? I can only recall $0 as one of the options.

Also, for the IAS 10 question about difference in accounting policy used by parent and subsidiary, is the answer about carrying PPE at cost model and revaluation model?

Thank you so much.

I chose the same answers as you. Wasnt sure about the second one though

[msarosh]

It was a rights issue so they issued the shares at a lower price so we needed to multiply the shares with the bonus fraction. They had given the TERP already so we didnt need to calculate that. So it was 2m * 9/12 * MP/TERP + 2.5m * 3/12

I got 2.3m something which was option A i think. The only extra information they had given was the profit which isnt needed to calculate the shares

[msarosh]

@ahmadsaad143 said:
Ok so I have this question for all of you that put 0 muffins or brownies on the throughput question and I would really appreciate if someone can clear this out for me.
Didn’t the data in the question specifically ask us to honour the contract we had with the cafe and to provide them first and foremost? It had a minimum amount of cupcakes, brownies and Muffins that the cafe required, so how could your answers have 0 muffins or cupcakes?
Or am I just being delusional here and we only had to focus on the OPP? :/

Yes the question did say that the minimum demand for cupcakes, brownies and muffins must be met. They had given us the minimum and maximum demand for each of them

[msarosh]

@heychi said:
Hey, I posted my answers to these. I got:

1.Optimal plan was the option with 0 muffins that can’t be made and i think 120 brownies.
2. Marathon optimal plan I got the same as Msarosh option A with 17540 and 20000
3. I picked the option that EV is sensitive to probability assumptions (in my opinion) and it that it also doesn’t show all outcomes. It depends precisely on assumptions about probabilities, how low or high it is at each decision point to get to the EV for a decision in the first place..so assumptions about the probabilities would affect it (in my opinion).
4. ZBB – You are right, it doesn’t build up from previous inefficiencies. I can’t remember the other options now but it’s definitely doesn’t build up from inefficiencies.

What did everyone else put for the joint production profit/loss for product X? after the cut off point?

And throughput ratio – how to improve TPAR to do with products Y and Z?

Didnt the option say INsensitive to probability and not sensitive?

[msarosh]

@azaramirov said:
Anyone else remembers the questions?
1. Optimal plan for cakes while 220 gram available
2. Optimal plan for marathon for $55 and $30…
3. EV is not sensitive to probabilities.
4. ZBB – not building up previous inefficiencies, or smth like this

2) The option that had 17000 something and 20000
3) I picked that it doesnt show all the outcomes and there was one option related to profit

[msarosh]

@mariane said:
I found this exam more challenging than the September one. I got 45 last sitting. MCQ were much harder. 🙁

I failed September too but with a 35 ._. Couldnt manage my time well between F5 and 7 so ended up studying more for one and not enough for other. I really wish i had passed F5 last time, it was sooo much easier

[msarosh]

I didnt do so well in MCQs ._. Werent sure about most of the answers

[msarosh]

I picked monitoring emails too. I searched on Google what universal passwords are and it says its protected by 3 layers of encryption so i guess the answer is monitoring emails

[msarosh]

I took the costs from the actual results

[msarosh]

Did we have to take the administration costs same as fixed budget or from the actual results?

[msarosh]

I think exchange gain/loss is controllable by the divisional managers. They gave their overseas customer 60 days ( if i remember correctly ) credit period so the exchange gain/loss is ’cause of it

[Author]

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