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This will be too late as submission period has ended however, you should have contacted OBU about this. I did the same too by showing excerpts from my excel sheet and when contacted, they said this was sufficient to serve as IT evidence but you have to remember that there is a limit to the number of appendices – check the project guide.
@ lollyb did you know your comment will help others. Before becoming an affiliate, I took all relevant tips I could from successful candidates. Everyone has different formulae- let yours be part of them. At the risk of sounding immodest, I would have written that he was overconfident but what he has exhibited is a normal occurence when one is highly disappointed that their expectations were not met.
Sorry. I feel your pain – I would have attributed my failure to that particular question too especially as I was not sure if the little I wrote would make sense to the examiner. I agree it’s quite unfair and it has been suggested that when next there’s a change in examiner, series of questions must be provided. However the advantage you have now is that it’s likely the exam would continue with this style going by what the board considers ‘professional level’. It assumes candidates as management consultants. I used some P3 concepts like change management in Q2b ABC so I would not erase know how of P3 in the next diet. I really wish you good luck so those guys can let you have your life back – lol!
@nas1983 if the material is still fresh up there, read the past papers and look at how marks are allocated in the marking scheme. Also read Lisa’s articles- she mentions alot of errors one should not fall into and how students not only think like audit juniors at this level but how we learn by rote and apply such to the scenarios and get rotten marks. What alot of us don’t realise is that the exam is really not 100% – there could be up to 120 marks available in a sitting and that’s why in the marking scheme you see different points and the examiner writes ‘max 5’ or ‘maximum of 7’ for some questions. Good luck.
Q1 is 31 marks, how did you do on the others? Most people except the Exam Review Board agreed that the question was surprising. Don’t be mad – just take it easy and convince or better still, assume you failed and then try to see where you think you might have scored low. If you keep on with this, you may not see what you ought to. Also check the marking scheme. I’ve felt like this before but the moment you begin to align with the insinuations of ‘less intelligent markers’ or ACCA sourcing revenue via exams, you would keep on falling where you ought to stand upright!
The first thing that came to mind when I opened my question booklet was “OMG – I’ve failed!” I tried to gain maximum marks in the last question which was my simplest and moved back to Q3, Q2 and whatever I could write in Q1. When I saw the answers, I was so scared because even though I wrote sensible things, the manner the examiner gave his answers were quite different and I do know ACCA gives credit for candidates’ ideas. Take it easy, let the rage subside.@last post that’s funny! Protest? Ha ha ha. When people don’t pass, all sorts of speculations are rife. Perhaps, the authorities will protest as to why students don’t write to pass. For F8 and P7, students see the exams as easy but evidences show they still make silly mistakes. Anyway, glad to have gone through P5 n P7 during these ‘horrible’ pass rates.
F4 especially the global version. The answer kit is sufficient and you do not need to quote cases to gain maximum marks.
4/4 – hurray!
This is to tell those who think they are capable of managing their lives within 6 months to go on if you can – don’t be deterred. Don’t let anyone tell you what they don’t really know about your potentials! I’ve seen so many comments warning a full-time worker or student not to take so much amount of papers especially in the P level. If you know you can, do it at your own risk smartly! lol! Funny enough, I only made up my mind to write 2 more papers on October 15.P3 and P7 were lecture (for P3 only) OT and past papers only. At the end, I didn’t practise all the past questions in P3 I aimed to do under exam conditions but just read them and this is where I think ‘common sense’ model is needed for P3 exam. I also need to add that students should ‘master’ the other aspects of the syllabus instead of concentrating heavily on section A. My tutor (he knows himself when he reads this) encouraged us to start from section B and move on to section A to garner confidence along the way. Section B would most likely feature one aspect o the syllabus and some questions there just require general business awareness. With the new syllabus, expect more ‘financial analysis’.
For P7, the past papers and Lisa Weaver’s comments should be your buddy.
For P2, knowledge of IASes is fundamental to success.
For P5, well I dunno especially with the new style of the examiner but just make sure you understand the concepts.
Thanks to OT for giving us the necessary notes and tips. Goodluck
Passed first attempt with 75%. Completed 4 out of 4 papers. So happy. P2 is so voluminous that I don’t wanna read it again. I’m so proud to have gotten 4/4 in two consecutive diets. Finally completed 20 CAT & ACCA exams to my suprise under 3 years! Moving on. . .
Am so delighted to pass this paper. I’d thought it would spoil my result but I passed it despite the change of exam format. I couldn’t imagine doing this paper again – what will I read?
I expected 60 and got 60. I thank my tutor who told us how to get easy marks because I remember I didn’t do Q3- I just wrote for ‘matters to consider’ the relevant IASs and materiality. Thanks to OT. I never used the study texts. OT + past questions. Thank you Lisa Weaver. This was one interesting paper.
@jodukwe I don’t think there’s anyone disputing that CSF isn’t in P5; it’s not a major part of the syllabus. It’s a ‘brought forward’ knowldege from F5 and the last time I saw KPI in the current P5 exam, it was a sub question and has never accounted for 31%!
P5 = F5 + P3 + (a lil bit of inv apraisal of) F9
As long as you didn’t hate the theoretical aspects of F5, you ‘ll find it repeated here. P5 moves drastically away from variances et al to evalating advantages and disadvantages of systems and there’s also emphasis on human behaviour in organisations; it’s a relatively interesting course. You certainly won’t pass this paper if you like not theory. An exam question in the past has asked how to evaluate . .. Using porter’s 5 forces. Just use calculations to support your application of the model.
At this stage, I would recommend downloading the real past questions and not those adapted by the kitsb those kits tend to spoil you and at times, consist of too much detail that you probably may not be able to write in the exam.
Practise the live questions, read the examiner’s comment and marking scheme, that way you understand his style of setting questions. Don’t ignore the 3.5 papers too as some of these form the basis of future questions. Remember, the pilot paper was adapted from paper 3.5 2004. Luckily, Steve Skidmore hs been setting the exam for years!
Considering the depth of the syllabus, I would advise you not to combibe these with P2. Go for P1 due to its similarities in some syllabus areas with F8.
I do not agree with the Unmodified ‘thingy’ as that means you are failing to inform the members of a material issue.
I think Kaplan’s approach to solving Q1 is better. Try some questions with it and Q1 looks like chicken!
If you’ve covered Q2, then you are as good as covering 4 n Q5 except that you have to know the IAS in detail as opposed to applying parts of them in Q2.
I don’t know abut that.
See this too: https://opentuition.com/groups/p7-advanced-audit-and-assurance/forum/topic/unmodified-and-qualified-reports/groups/forums/
@boscobosco said:
Its an irrelevant point. Nobody will lose marks for putting them in, or not putting them in either way. The important part was the risk itself and explanation.Read between the lines. I never mentioned that you’ll be penalized. My view is that classification narrows your scope. What if you make an incorrect classification?
An Unqualified opinion is E.O.M
A qualified is LOS or DWM
Qualified + Unqualified are both forms of Modification.
Unmodified is ONLY when you have a TAFV FS – no hitches.
@milachika it doesn’t matter if the examiner asked for audit risk definition in Q1a. Read the comments in the marking scheme for that question.
To buttress this, Q4 in Dec 08 asked for risks definition and still asked students to SPECIFICALLY identify INHERENT risks in the part b. So do you see the relevance?
Thank Goodness I never ignored Elements of Assurance Engagement:
* Tripartite Relationship between Professional Accountant, Responsible party and Intended users.
* A subject matter
* The subject matter information
* Suitable Criteria
* A written report
* SAAEThe risk question was adopted from a past question and in the answer, the examiner didn’t classify into DR CR etc but just identified the risks the coy could face.
This is not to say that the classification is wrong – at least there were control risks in the scenario but why bother wasting tour time trying to classify when you weren’t asked for it. Save exam time please! Examiners have complained of students wasting time trying to classify what they weren’t asked – this is a major comment of the P1 examiner. So just write to pass and not to overkill the exam.Check the June 2005 Q1 to verify.
There’s nothing better than going through the past questions before writing these papers – the exam looks like a ‘recycle bin’. Thanks Pami Bahl; the questions were interesting with a variety of different sections of the syllabus unlike previous sessions where not less than 30% of the questions came from procedures, risk etc