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@helplogon said:
This exam was completely non-typical and yet very interesting. NPV and WACC was easy.Hedging interest expenses was about forward exchange contract and money market hedge. Convertible bonds: 4% growth is below $1000, so no convertion, 6% is above $1000, so convertion is likely. Working capital: I calculated working capital in $ and then calculated %% (1M overdraft, the rest is LT debt).
with conversion, of the 4% growth and 6% growth, I remember the question asking what the market value is on each now?, it didn’t ask what they should take? the market value would then be the npv of each? which are both under 1000?
I messed up though, because the question say the loan notes are for 8 years, or redeemable to shares in 7, so when I did my cash flows to find mv, I did interest 1-7 years annuity, and wrote that I am assuming interest payments would stop after the loan note is redeemed as shares after 7 years..
Maybe I got this one completely wrong lol..
I can’t believe it, I completely lost my mind!
I kept doing (Do x 1+g)/Po MINUS GROWTH! and kept getting 2%, I don’t know why I kept minusing the growth! even though I knew the formula, and I kept looking at it thinking what am I doing wrong! and could no see it! until when I came out, it bothered me so much, that I googled it as soon as I came out, and when I read it it was + I realised I had been putting Minus! OH god!
oh well, hopefully I get full marks for the remaining..
It was a tough paper! I really hope I scrape through this one! I can’t be asked to study the whole thing again 🙁
@6shahir said:
I just have a doubt, I have entered and paid for 3 subjects this dec, Can I amend the entry and do 2 this dec and 1 in march?Don’t think that is a question for John to answer – and specifically not on this part of the forum..
However yes, you can amend until the last entry date of ‘low fee’ which I believe is the 26th.
go onto your MyACCA and look for the Exam Entry, you should be able to amend – if not check with ACCA.
Also as you’re studying F9, you should know that you should not pay your ‘supplier’ until the last day they allow you to (26th Oct) :p Manage your Payables better next time :p
