[nidsy]

OMG I passed p2 first sitting. With this pass my 1.5 years of ACCA journey comes to an end.. Big thanks to the almighty , my kith and kin and the online study resources for helping me sail through the 8 papers with ease.
OT has always been wonderful. I’ll always be indebted to this website for the course materials!!

[nidsy]

Felt the Part A of the paper to be less complex (SFP only) when compared to some previous papers but I was totally Under prepared due to the horrible bigv4 work culture.

Part B had lots of questions based on technical articles ( IAS 21, Leases, Revenue and even Fair Value). Materiality question was a surprise but it was manageable .

Anyway, I know my result and i’ve started studying sincerely for June already 😀

[nidsy]

Passed with 66 % first sitting.. P2 only left now..Yaayyy!!

[nidsy]

@minythar said:
Can some one tell Q4 (C) is diversification or market development

Market develpoment

[nidsy]

@jihwalai said:
Anyone opt Strategic Alliance for Q4 c?
Sharing of knowledge, knowhow in overseas market to overcome the lack of experience in overseas. As they hold patents of recipe, it is likely overseas alliance will work with Tramor, especially UTF as the main target market as of now.
Cost and benefit are shared.
Risk can be reduced and transfered or shared.

Anyone reckons this? Thnks

I wrote the same and I guess this is a totally acceptable answer. Fingers crossed!

[nidsy]

Quesn 1 involved contextual features (5 features) for 20 marks and then POPIT for 14 marks and barriers to ecommerce for 12 marks.

Quesn 2 on mendelow matrix and project mgmt ..
Mapping 3 stakeholders – 15 marks and then describing the roles and responsibilities of sponsor and manager for 10 marks.

Quesn 3 on decision tree analysis and alternative sources of finance

Q4 on ansoff strategy based on the given swot analysis and why market dvpmt was favourable 15 marks and then diff between organic growth, m&a and alliances and to suggest the best one for client 10 marks

Overall I was mighty disappointed with myself for the awful time management. The first question took a solid 2 hours . It looked easy at the outset but getting down to the nitty gritty made it hard especially since I Hadn’t practised much. I was left with very little time for the other 2 easy questions which ultimately led me to mess up the easiest 4th question big time. God knows what I’ve managed to write in like 20 mins time. I just hope to scrape through. I really wish the ACCA board increases the exam duration of reduces the question size. I even wrote that in the feedback form which they gave after the exam. It really sucks to come out of the hall knowing it was an easy paper but you screwed it purely cos if time management .. I really am pissed with myself :(( Praying for a pass!!

[nidsy]

@jaaaasmin said:
wow ! congraatss..Would you mind sharing tips onn how you studied ?? 😀

Hello Jasmin!! Thank you 🙂

To be very honest, I shunned the textbooks as I didn’t have enough time to study (Hardly studied for a week) and switched to some online class materials . I understood that P1 did not require much of book work as it is a very ‘general’ paper which can be aced with good application technique.

The KEY is to apply the concepts to the SCENARIO and link them well. Plus, keep in mind the VERBS. You should structure the answers based on the verbs. I guess it pays to quote relevant real life corporate governance/ethical issues as well as I clearly remember citing some cases here and there. Most importantly, PRACTISE as many past questions as you can. That’s more than enough to crack P1.
Cheers 🙂

[nidsy]

Hello All!! Can someone tell me if 79 is good enough to get into the ACCA p1 toppers list ?
Thanks 🙂

[nidsy]

79% first sitting. Shocked 😀

[nidsy]

I landed with 79!! Unexpected bonanza 😛

[nidsy]

@louiseabigail said:
I went with social contract although i think social ecologist would have been more correct. Reason I chose this was because they kept mention the honeybuzz brand and strategic CSR. They were clearly in business to make a profit however they felt they should give back to society.

Hopefully both are right as there is arguments for both stances.

Isn’t social contract like a license to operate ?? As in if the company breaks it it gets wiped out if biz like Arthur Anderson. So I didn’t even reckon this. Anyway, lets keep our fingers crossed for the pass mark. Good luck to you :))

[nidsy]

@aminb001 said:
I chose social ecologist because it spoke so much about social and environmental footprint resolution and that is what social ecologist underpins. Expedients do minimum CSR so having environmental and social audit in that position seems extreme.

I decided to let the examiner decide by saying the company cud be an expedient or a social ecologist depending on the real intentions which weren’t fully given in the question haha 😛 ‘when in doubt confuse the examiner’ was what I did.. 😀

[nidsy]

@essem said:
not enough time, spent maybe 15 minutes extra on question 1 thought I would be ok but had a knock one effect on all the others.

question 2a) 12 marks wtf?

can anyone remember the diversification question wording?

also did question 4. part a) wrote half a page of crap, thought it was worded strangely and in my answer I was regurgitating the case with no theory and then it hit me, Tuckers 5 stage model. Managed to write something down in relation to this but at the point in the exam I had the writing of a 5 year old with a broken arm

I feel ya man!! Your 5 year old anlogy legit made me laugh cos its so relatable ..cos even I did the same in the end haha!! Extremely time pressured.

[nidsy]

@tayyabom said:
there were three stake holders:

1) RICE – High Power – Low Interest
2) Oldshires – Low Power – High Interest
3) Doctors – Low Power – High Interest

That’s what I wrote. RICE low interest because there is no hint that they opposed this reduction. If they were pro-health care then why they didn’t take any action? that was my opinion anyway.

Rice has high interest as they are directly involved in the issue right ? It is through them that the funds get disbursed and they are definitely interested as they will be impacted which is why they even want the reporting done. I maybe wrong..dunno. But I feel there’s no specific right or wrong answer for this part of the question as there aren’t enough facts.

[nidsy]

@tayyabom said:
what were the disadvantages of principles-based approach?

Can be diluted easily and made to look like simple box ticking and unless ethical culture exists it can be circumvented easily as the emphasis is more on complying voluntarily unlike rules based which is penalty driven.

[nidsy]

@tayyabom said:
So whatever these marks were gone for me 🙁 what about my approach on disclosures, seems right?

Even I wrote something dramatically different like how flexible they are and how it can save time and efforts and encourage more disclosures which is why selecting investments is better etc etc.. Rofl.. 25 marks gone 😀

[nidsy]

@kireeti said:
Mendelow matrix for all three.Anyone?

Also, what happen if you put wrong roll no on additional Paper?

Doctor – high interest low power

The funding agency – high interest and high power

The health authority – high interest low power ( I wrote this cos question first said doctors were concerned abt it but couldn’t do much abt it and ‘similarly the authority was also forced to reduce budget’ or something like that..) I mentioned that explicitly which is y i took them with low power. I also said if they could demonstrate higher power they will be key players like the funding agency.

[nidsy]

For the benefit of others writing in future :

Q1 – a public service organization which provided health care services to people for free out of government funding. The taxpayers wanted the govt to tighten the budgets on freebies and the govt had reduced the funding. So the healthcare authority has started charging people for secondary healthcare services (hearing aid) while primary care was still free.
An old lady who was hearing impaired and not provided with the hearing aid suffered injuries in a fire accident as she couldn’t hear the fire alarm. So get daughter took up the matter and wanted the org to provide freebies cos it was the elderly people’s absolute right to get them . But the authority refused to do it cos of the budget constraints. Second part was about reporting by the authority to the govt abt performance etc..
The org was very particular about regular reporting cos non compliance wud entail penalties.

A- stakeholder’s conflicting needs (tax payers vs patients )
B- plotting 3 other stakeholders in mendelow matrix
C- criticise absolutism theory of the daughter

D- a letter by mgmt of healthcare org to stakeholders on
Characteristics of info in the reporting , justification for reducing the freebies and sticking to the budget and how performance can be enhanced using 3E model. (D part had 22 marks )

Ques 3 – csr strategy vs strategic csr
Identifying the position in gray Owen Adams matrix .

Features of social and environmental audit and why it wud improve the assurance given by integrated reporting.
There was also another part here..I can’t remember that properly.

[nidsy]

@tayyabom said:
I also chose question 2, do you remember exactly what was it asking?

Principles-Based approach and disadvantages if want to try internally, right?

Principles-based approach, disclosures and diversification was another one.

ICGN’s guidance for institutional investors was the last one i think?

Yeah. It was basically the advantages of principles based gov for the fund manager and how voluntary disclosures will help her. Part b was how diversification will help reduce financial risk.
Part c was about the reasons to adopt a principles based framework or the features (dont remember well) and d was limitations of that.

I remember writing the generic points only and at hindsight I think I’m entirely wrong . :(((((

[nidsy]

@anhbao0123 said:
I choose question 2, and now i regret for choosing this question 🙁 so sad, but i think question 4 is also difficult.

Nooo!! Question4 was actually straight forward imo. I remember it vaguely ..it was about risk management internal control deficiencies and risk assessment. Easy questions but time consuming as it required elaboration which is y i chose 2 as I had less than half hour to go. Ques 2 turned out to be very twisted and difficult 🙁

[nidsy]

So damn true about choosing question 2 without reading fully as I was running short of time and thought principles based governance question should be straight forward. With 20 mins left I started this question and found myself feeling miserable in the end when I realised that I had interpreted the question wrongly and wrote a stupid answer for the heck if it. I could have easily chosen q4 . Such a bad decision today. 25 marks at stake. :(((

[nidsy]

Thanks a bunch. I’m starting my prep only tomo. Writing the pending p1 2 and 3 this june 😀 hope to qualify in July. Good luck to you too !!

[nidsy]

passed p7 with 68 and p4 with 50 in my first try. Couldn’t have asked for more. Really didn’t expect to pass p4 as I knew I hadn’t done it as well as my p7 . so yes special thanks to god.

[nidsy]

Omg passed p7 with 68 and p4 with 50 in my first try. Couldn’t have asked for more. Thank you god ???

[nidsy]

OMG I passed !!! P4 Pass 50%,P7 Pass 68%. Biggest thanks to the almighty.

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