[rutvik]

@ Tez – why 15% recognition for Construction Contract? The Contract was over 14 months and at the year end date 7 months had elapsed – so under the percentage completion method if we take one month as a mile stone exactly half of the contract is elapsed – thus half of the work is done and if the margin was $ 5 million we should recognize half (i.e. $2.5 Million) whether billed or unbilled remains to be seen but the assumption that everything accrues evenly through out the year/contract.

Q5 was all to do with Audit Reports – there are only 6 variations on the syllabus out of which one is an Unmodified Report which will hardly be tested in an exam thus making it an option between five. . .

But everyone here is spot on with the time allocation – there is not enough time and a lot to explain and on top it all the examiner needs full sentences which is not always possible under these timed conditions – makes me believe that we as students are in a lose – lose situation.

[rutvik]

in order to pass P4 you need to have attempted 100 marks worth of question . .. which was impossible to do in this exam. deffo the toughest paper in all of ACCA . . . . so tough that there was a chick throwing up in the bathroom . . .

[Author]

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