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68. I don’t believe it.
This means so much! FULL CREDIT TO OPENTUITION.
I love you guys! Thank you so much! Became part qualified today, and it means so much!
ampash wrote:On the loan I used the Interest*(1-tax rate) to get post tax rate and then used that as cost of debt %.
yeah this is what i did as well. Used 100m as Market value but deducted tax from the 8% (I think) Fixed Loan interest
Looking good guys. Also wrote WACC would increase because of the more expensive equity bla bla.
Hoping for some good marks on that question, what WACC did you guys arrive at?
In the WACC question, there was a 9 marker which asked whether WACC would increase or decrease after the investors converted the loan notes into shares.
Anyone else got that? And what did you write?
Great, I also wrote year 4 is better. 🙂
The initial investment said it was paid after the first year right, so I wrote the purchase in year 1 as well.
But I started calculating the resale value from year 0, if that makes sense. Honestly I’m not sure how right or wrong that will be but fingers crossed haha
For people who did the Section C EAC question; which replacement interval was better?
3 or 4 years?
And the other WACC question, what was the WACC you got?
I think I got like 6.8% or sth but not sure how right that is lol.
First attempt, self study and only the Practice Kit and Opentuition lectures.
Thank you so much. Passed at 66!
I believe there are some variations based on region and exam method, so that might be it.
SECTION B
30)
– 5 components of internal controls
– 4 key controls and test of controls
– 4 deficiencies and recommendations
–20)
– Audit planning benefits
– Audit risks and response20)
– substantive procedures on income
– Substantive procedures on restructuring provision
– Substantive procedure on bank loans
– Audit opinion if 270,000 material but still included
– Corporate Governance deficienciesTrying to recall all the section B questions so we can discuss answers.
Anyone can remember the ones I missed?
Passed on my first attempt. 52%. Hardest exam I have ever done so far. Thank you so much opentuition. You never let me down.
Alhamdhulillah!@shaonan
you gotta be kiddin me… That was what you got for section C? WOW I WISH I got that, sounds so easy 🙁 Really wanted consolidations because its like a free 20 marks for me.
Anyways I thought section C was same for paper and Cbe? Kinda unfair if they aren’t to be honest.
@mohdafzal said:
I sat the exact same paper.. the point with me was that i was unable to get the points on how to comment on it.. i just wrote that wyatt is not doing well now because of its founders.. since they opneed up new company similar to wyatt… and moreover the founders obviously would be having good relations with suppliers and customers of wyatt before acquisition as they were performing good before… and i couldn’t frame the answer well.. since i was under time pressure and english is not my first language… hope that i did well..Those are all relevant points mate, I’m sure we should get the marks for them, if I recall one mark per valid point. Well, here’s hoping haha! I think it was a good thing that we didn’t have too much information though? Because of that it was left to our imagination and we could really explore many different routes on why it has happened the way it has. In my opinion anyways, for me, the little info was better.
Just hope to God we pass, I’ve passed ACCA F1 to F5 and this has been the HARDEST exam ever. I don’t get how people have told me F7 is ONE OF THE MOST EASIEST exams in skill level. Maybe it was easier back then, when there were’nt all that many MCQ’s and OTQ’.s If we got a full consolidation question for Section C I would be pretty hopeful too of a pass.
Good luck everyone! All we can do now is hope.
@vesela538 said:
I sat the paper based and I had the same in section C – simple consolidated PnL adjustments + ratios and comments and single entity SOFP with profit adjustments.That’s good to hear. What were your conclusions from the interpretations question? I said that the Knope Group did a good purchase at the time but has suffered a lot since the main creativity of Wyatt seems to have been the founders, as they had said most of the games were made by them, and also the key suppliers and customers seem to know this.
They did well to get an increase in consolidated GP% despite the poor performance of Wyatt, but that Knope has to come to a decision fast as to what to do with Wyatt, continue gambling for them to land a hit game development despite Knope not having any valuable expertise in the area or get rid.
That’s a rough draft of what I wrote, what about you?
@mohdafzal said:
So basically your section c was good ?? For me sectuon c was baadd..did you get question on short term leases in section c ??Hi mate, I really have no idea to be honest, as I’ve seen people say they did terribly come out with high pass while people who said they did great have failed. I much preferred Section C over the MCQ’s though. I think I did well on the ratios and the Single entity question.
And yeah, think I got the lease one as well. I had 2 leases in that question. As the other answer has said I accounted the 2nd one as a operating lease and sent it through the profit and loss (I had to to a statement of changes to profit or something) and then a statement of Financial position.
Honestly, I’m going to be practicing the syllabus again because it’s probable (lol) that I won’t pass, I hope I do though.
Also, is everyone’s Section C the same or is that even different?
Section A was a disaster for me, only got like 2 answers shaded in 15 mins and I started panicking, winging the answers. Calmed down around Section B and finished strongly in Section C.
That being said, even with my generous marking, I was only getting an estimate of 46/100. It’s in God’s hands now. Hope I can make it.
#Believe
Passed today with 53%. Not bad at all considering I self studied for like barely 10 days, but that is the closest I’ve come to failing and passing. ? Good day!
60%/ Against all the odds, I passed. Oh, the Euphoria!
When I decided to drop out of college after only 1 month, everyone laughed at me. They called me many things, and in their minds, doomed me to fail. I dropped out of college because I felt like I was only wasting my time there, without really learning anything. I felt like I learnt a lot more at home, and saved valuable commute time.
THANK YOU SO MUCH, OPEN TUITION AND MR. MOFFAT. You lot are amazing. Thank you! 🙂
