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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!!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 😀
@minythar said:
Can some one tell Q4 (C) is diversification or market developmentMarket develpoment
@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!
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!!
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 !!
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.
Omg passed p7 with 68 and p4 with 50 in my first try. Couldn’t have asked for more. Thank you god ???
General question : which is easier p1 or p3? As in which one can we study quickly ? Is p3 a little more conceptual than p1?
Felt the paper was manageable imo but damnn my preps weren’t good enough. . So messed it big time & by the time I came to the easy ques 2 I just had 15 mins to do 🙁 goner 🙁 too bad this kind of easy paper won’t come in march :((((
Too bad P2 was cancelled in my city as my state’s chief minister passed away 🙁 Anyway, I hope to get the refund soon!!
@nurse said:
I found the questions manageable but couldn’t do justice thanks to lack of time :(((Reading takes like 15min so no point in making the exam 3h15min IMO. WHY pushing students to do something in 3.15pm when this time is not sufficient? What is the point i dont get it. It took me 25 mins to read it first time and second time i had gone back and had to read again. So it is not sensible. Extend the time to 3.30 or 4.00 or don’t ask to many details question.
The first question took me like 1.5h and i had like 1.5 hours for the rest . I have messed up question 4 and 5 as I didn’t have time ? Feeling terrible because it was an easy one on a few accounting standards. :(((((
very disappointed…..
Is this a rehash of my reply in page 1? 😛
@kolkleen said:
I also thought about that, considering the fact that the last two brands did not make up to 10% of revenue. The requirements of IFRS 8 were a bit hazy but had to put something downGlad to know that I wasn’t the only one to write about segment reporting. I felt justified cos it was a Listed company & IFRS 8 is mandatory which means that there could be a risk of not reporting the segmental results correctly. Personally,I felt it to be relevant cos segment reporting is what goes into the financials & get published as well..
@riteshgrg82 said:
did no one find question number 2 difficult? i know the topic and question were simple, but i wasted 30 mins staring at question 2 trying to think what to write……that question tilted me and put me in time pressure. I found it puzzling not knowing how to start my answer.hated that question
Hi5! I was wondering how the break up of marks wud be. shd we write all the 3 aspects to each scenario? I was a bit stuck too with that n then decided to address all the 3 requirements for each case. Such a time killer!!
@dd92 said:
So glad someone else put borrowing costs in. I thought it was a stab in the dark.I also put in about brand names because it said they were operating under three brands so I said they shouldn’t have capitalised if internally generated but I was really clutching at straws with that one.
I found this exam quite difficult. All the practice questions and mocks I’ve done have been fine but today i struggled to get enough info out of the scenarios for the marks available.
Woah! I missed all that. I wrote about segment reporting cos 4 segments were involved(is it right?) , commodity derivatives, Intangibles impairment, non cash transaction, possible material inventory frauds and also abt consolidation risk & loan. I wrote extra actually :/
@gavin23 said:
Are you allowed provide a forensic investigation for an audit client if they are listed?I wrote about the threats, safeguards and how for listed cos Tax&legal services are prohibited etc.. I also said that it’d be better to avoid taking it up to avoid the threats and that in some countries like India(where im from) it is expressly prohibited which means the auditor shd check such regulations also before deciding. My final conclusion was that it’d be recommended to not accept the forensic investigation.
@Guy- Oops that didnt strike me at all. I jus wrote about assessing the competence of internal auditor & reviewing his report and then getting more management representations + board meeting minutes, Inventory control systems etc.. too bad I cant remember much !
OMG! I found the questions manageable but couldn’t do justice thanks to lack of time :(((
Reading takes like 15min so no point in makin the exam 3h15min IMO.
The first question took me like 1.5h and i had like 1.5 hours for the rest . I just messed up quesn 5 as I didn’t have time 🙁 Feeling terrible cos it was an easy one on a few accounting standards.
Quesn 1- Business risk & Risk of Matl Misstatement of an airline group company with 4segments . (10*2) , Additional info to evaluate Internal control-4marks & Ethics-7 Marks
Quesn 2- there were 3 cases and we had to evaluate the sufficiency & approp of Audit evidence, list out other procedures to collect evidence and also report on deficiencies of internal control to TCWG.
Quesn3- something on forecasts of cashflow (Left it)
Quesn 4- Had a group audit in which a subsidiary was having going concern issues + disagreement between subsidiary auditor&grp auditor/mgt on modified report (14 marks) + Professional scepticism (6marks)
quesn 5- KAM (8marks) & 3 cases involving possible accounting misstatements (one goodwill impairment, court litigation provision & cant remember the third) – 12marks
(Messed this big time cos of lack of time 🙁 )Hope to get 50 ! Lets see !
Hi oliseemeke,
Nope. No need to show workings for the MCQs in the answer sheet. Just ensure u circle the correct answers properly.
For the descriptive quesns,make sure you show all the workings correctly. It will fetch you marks even when your final answer is not right.
Pl make it a point to explain your answers to case study quesns well as they value the analysis/explanations more than the numericals. Dont forger to refer the sample papers and past exam papers as some quesns get repeated from them directly.
Make sure u do mcqs well enuf to get minimum 30-35 from them so that even if u get 20 out of the other 40 u can still pass.I understood these and applied the same. Got 75 by god’s grace ! Good luck. Any help,feel free to ask 🙂