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PEOPLE DO NOT SELECT AAA!!! HAVE STRUGGLED WITH IT 3 times and finally passed with 50%. It may seem easy, BUT, it is not so. I felt I had it but they look more on structure and format of response in exam. You will for sure fail from the 1st attempt.
Please trust me as I was 3 times country winner for other ACCA exam and had to do 3 times AAA and passed only with 50%
Hey man I feel like you have cited all my answers, around 95% of exact match!!! I noticed a lot of people here didn’t pay attention to the fact that not only BS/P&L performance was asked in the Q1, but also operational performance. Answered the same about divisional structure & centralized procurement. As well, motioned about the fact that their operational efficiency, high skilled staff are key success factors.
In the last question I gave a birth to the idea that they have to establish their own franchise and develop further their brand internationally by expanding with the franchise worldwide. Didn’t try to tie my responses to Baldridge, but showed more connection to the scenario, possible developments in future.
In Q2 when explaining OD and FD proposals I mention those in the light of Porters market penetration, new market exploration. The only thing I’m hesitating now is whether I had to discuss more about positive sides of OD/FD proposals. Around 90% was concentrated on hesitation/negative possible scenarios/obstacles. Not sure here. Finally also selected option 4 with the same arguments provided.
In regards to Q3, do you remember what was the exact requirement for part (b), cause I responded in the general awareness, not applying it to food case exactly or to Food risk Manager actions. Not sure if I was expected to. Don’t know what they expected. Btw, also used defense levels without mentioning them but in a little bit another way:
– risk KPI to be introduced for management
– risk KPI to be introduced for employees
– clients have to be informed about potential risks via leaflets etc.
– audit committee/ Board topics frequent reviewHow your timing looked like? I had 10 minutes left and managed to review some points. Last 2 minutes was coloring cells In P&L/BS 😉
Last time when passing AAA I missed 2 last questions totaling around 20 point and failed with 46, I guess you should prepare for a new try. Exam was not difficult, and it seems they do calibration if there are a lot of passers…
Passed with 61. In exam I was out of time when started doing Question 1, so have lost around 20-25 marks there automatically. So real score is 61/75.
ACCA is unrealistic with the time allocation. If I started with Q1 instead of Q4 I bet I wouldn’t pass.Hi. She studied Kaplan book, prepared good notes and reviewed her notes very often during the last month before exam date. Guess, each day. Also she drew her attention to the past test and hard tests with exam team comments and she revisited them once again one day before the exam – those sometimes repeat.
As well, she has sitted all the previous exams starting from the old ones to the newest ones.
She has read tech articles as well. By the way, she tells she was lucky cause cases were not difficult and were relayed to individual taxation topics.
Heh, I really like those Examples and Questions about Sousages, Strawberry during the Exam or preparation. I always start thinking about the food and the blood starts flowing into the stomach 😉
Got the answer. My mistake is I treated signing of a contract as the ‘past accounting event’, which is not so.
Let’s assume yesterday, 24/08/20 was the sousage dispatch date.
1) Should I book:
Cr Cash
Dr Receivablesif I paid you for the sousages on 24/08/20, but those still hasn’t been delivered on 25/08/20?
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Let’s assume yesterday, 24/08/20 was the sousage dispatch date.2) Should I book:
Dr Sousages
Cr Payablesif I did receive the tasty sousages from you on 24/08/20, but still haven’t paid for them?
———-
Let’s assume yesterday, 24/08/20 was the sousage dispatch date.2) Should I book:
Dr Receivables
Cr Payablesif no sousages arrived and no payment has been done yet?
Dear Stephen, isn’t it a contractual obligation (we are obliged to buy a car in line with the contract) wich has arisen in past (yeap, already signed it) and which will cause outflow of economic resources (money) and there is no reasonable way to avoid this.
I’m really lost here why IAS 37 is not applied to the “obligation” part.
Hi. And how then to account the executory contract? E.g. there is obligation to buy a car for CU2m in 6 months. Shoul we recognise both liability and Receivables in the BS for CU2m?
What if our functional currency is USD? Will there FX difference occure at the reporting date? Reffering this question to Kaplan Test your understanding 18 – Firm commitments in the Derivatives topic.
Regards
Mykola
